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Home My WebLink About04.b. Review March 2020 Financial Statements and Investment Reports Page 1 of 32 Item 4.b. Av CENTRAL SAN April 21, 2020 TO: FINANCE COMMITTEE FROM: CHRIS THOMAS, FINANCE ADMINISTRATOR KEVIN MIZUNO, FINANCE MANAGER REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION ANN SASAKI, DEPUTY GENERAL MANAGER ROGER S. BAILEY, GENERAL MANAGER SUBJECT: REVIEW MARCH 2020 FINANCIAL STATEMENTS AND INVESTMENT REPORTS Financial Highlights Attached for review are the Fiscal Year (FY) 2019-20 1 nterim Budget-to-Actual Financial Reports (Un- Audited)through March 2020. With three quarters of FY 2019-20 now complete, budgetary results for the Running Expense (O&M Fund), Sewer Construction, Self-Insurance, and Debt Service funds continue to reflect that activities-to-date are on target and under budget in the aggregate. The O&M Fund expenditure results are favorable at approximately 68.4% of the total FY 2019-20 budget, or 6.5% under the year-to-date budget target of 74.9%. O&M Fund revenues are also slightly above the year-to-date target by$1,012,654 (2.4%), primarily attributable to favorable results for sewer service charges. The slightly favorable results for sewer service charges results mainly from higher flows from non-residential customers as well as development activity being slightly higher than projected in the FY 2019-20 budget. The Sewer Construction Fund has spent$36.8 million or 89.4% of the total year-to-date budget for capital project expenditures. While under the 90% target, this is still relatively favorable news considering the pace of capital projects has slowed following the "shelter in place" order originally issued by Contra Costa County Health Services on March 16, 2020 currently in effect until May 3, 2020. To further put the year-to- date capital expenditure rate into perspective, the current year capital project expenditures pace through March (3/4 of the fiscal year) is 55.6% of the adopted budget, exceeding the rate for this same nine-month timeframe in the prior fiscal year at 49.8%. While staff still expects the pace of several capital projects to accelerate in the remaining three months (April through June) of the fiscal year following the District's expected "s-curve" trend for capital projects, the "shelter in place" order will inevitably cause some disruption, the extent of which is not yet fully known. Most notably, construction for the following large capital projects is expected to ramp up in the final three months of the fiscal year: Solids Handling Facility Improvements (District Project (DP) 7348), Mechanical and Concrete Renovations (DP 7351), Moraga/Crossroads Pump Station (DP 8436), and Enterprise Resource Planning Replacement (DP 8250) capital projects. On the revenue side, the Sewer Construction Fund is reporting a positive year-to- date variance of $1,968,078 (6.4%). This relatively large positive year-to-date revenue variance is April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 47 of 118 Page 2 of 32 predominantly attributable to facilities capacity fees generated from the large, 200-apartment Avalon Bay development project in Pleasant Hill and other smaller developments coming in higher than projected in the FY 2019-20 budget. Investment Portfolio Highlights In accordance with Section 53646 of the California Government Code, staff shall submit an investment report to the General Manager and Board of Directors. While state law mandates this reporting shall be done at least quarterly, Central San's I nvestment Policy further stipulates this reporting shall be conducted on a monthly basis. Accordingly, the attached quarterly financial report includes investment portfolios for the month of March 2020, which will be reviewed with the Finance Committee on April 21, 2020. The investments held by Central San on March 31, 2020 are shown by fund in the attached Investment Portfolio Report. Pursuant to the Investment Policy and state law, the Investment Portfolio Report reports the following: type of investment, issuer, date of maturity, par(or face) and dollar amount invested on all securities, as well as the current market value as of the date of the report. The following table provides a summary of the highlights included in the attached Investment Portfolio Report: Fund Total Total Market Wgtd. Wgtd. FY 2019-20 FY 2019-20 Face Value Avg. Avg. Actual Int. Budgeted Int. Value Yield Maturity Rev. (YTD) Rev. (YTD) O&M $30.1 M $30,340,182 1.74% 0.15 years $513,401 $712,494 Sewer $32.OM $32,255,342 1.78% 0.11 years $851,735 $505,494 Construction Self-Insurance $6.9M $6,955,058 1.82% N/A $114,784 $134,919 O&M Fund investment earnings are significantly under the year-to-date budget due to the significant decline in market yields for fixed income held-to-maturity investments following the Board's approval of the FY 2019-20 budget. During the preparation of the FY 2019-20 budget in March/April 2019, the Running Expense Fund was yielding approximately 2.48%, whereas the Fund's yield in March 2020 was only 1.74%, reflecting an enormous 74 basis point drop (30% retraction). As a ramification of this market situation, staff projects FY 2019-20 investment income of the O&M Fund to be approximately$790,000, falling short of the total budget for this line item by$160,000, or 16.8%. Fortunately, positive variances in other operational revenues of the Running Expense fund are expected to offset this revenue reduction. The portfolio is in compliance with the Board's adopted policy regarding Central San's investments and as of March 31, 2020. The attached Investment Portfolio report also indicates Central San will meet expenditure requirements for the next six months from a combination of maturing investments and revenues from budgeted operations. Strategic Plan Tie-In GOAL THREE: Be a Fiscally Sound and Effective Water Sector Utility Strategy 2- Manage costs ATTACHMENTS: 1. March 2020 Financial Statements and Investment Reports April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 48 of 118 Page 1 of 30 CENTRAL CONTRA COSTA SANITARY DISTRICT April 13,2020 TO: THE BOARD OF DIRIIZMS VIA: KEVIN MIZUNO 61- FROM: CHRIS THOMAS SUBJECT: O&M Variance Analysis The following are brief year-to-date variance explanations through March 31,2020 YTD Total FY YTD YTD Favl(Unfav) O&M Revenues: Budget Budgeted Actual Variance Explanation Direct SSC higher than budgeted due to increased development and metered Total $89,560,370 $42,067,455 $ 43,080,109 $ 1,012,654 consumption. SSC County,Interest Income-pension Higher than budgeted. O&M Expenses: Total Labor Charges $ 52,789,084 $ 39,084,039 $ 36,847,766 $ 2,236,273 Some positions budgeted for in July are filled later in the fiscal year resulting in savings, and charges of labor to capital projects higher than planned for in O&M budget. Unfunded Liabilities 12,436,841 9,223,253 9,239,038 (15,785) No significant variances. Chemicals 1,620,000 1,214,973 1,017,704 197,269 Invoice processing and payment delayed to due implementing electronic approvals as a result of shelter in place. Variance expected to reduce by close of next fiscal period. Utilities 4,209,350 3,156,957 3,011,340 145,617 Invoice processing and payment delayed to due implementing electronic approvals as a result of shelter in place. Variance expected to reduce by close of next fiscal period. Repairs&Maintenance 5,242,867 3,951,947 3,132,608 819,339 Mainly due to Outside Repairs being lower than budgeted thus far in the fiscal year. Budget is spread evenly throughout the year,however actual activity occurs sporadically every month. Variance should be minimal by year end. Hauling&Disposal 1,186,175 889,578 700,604 188,974 Mainly due to hazardous waste disposal being lower than budgeted thus far in the fiscal year. Budget is spread out evenly throughout the year,however actual activity occurs sporadically every month. Professional&Legal Services 874,300 655,650 231,294 424,356 Lower mostly due to lower Legal expenses thus far in the fiscal year. Outside Services 3,639,547 2,825,670 1,680,657 1,145,013 Mainly due to technical services expenses being lower than budgeted thus far in the fiscal year. Materials&Supplies 2,152,127 1,613,866 1,495,147 118,719 Invoice processing and payment delayed to due implementing electronic approvals as a result of shelter in place. Variance expected to reduce by close of next fiscal period. Other Expenses 2,464,834 2,004,689 1,603,943 400,746 Mainly due to Public Information,BACWA expenses,being lower than budgeted thus far in the fiscal year. Budget is spread evenly throughout the year,however actual activity occurs sporadically every month. All Other 969,650 933,477 940,467 (6,990) Minor variances for multiple account categories. Grand Total O&M Expenses $87,584,775 $65,554,099 $ 59,900,568 $ 5,653,531 April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 49 of 118 Page 2 of 30 ZyLs entral Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 001 - RUNNING EXPENSE (O&M) March 2020 Fiscal Period 9/2020 Report Generated on Apr 13, 2020 7:54:47 AM Category MTD Estimate MTD Actual MTD%.Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Concord $0 $0 0.0% $0 ($45,667) 0.0% $14,570,000 $14,615,667 -0.3% HHW $8,000 $5,288 -33.9% $72,000 $60,218 -16.4% $968,000 $907,782 6.2% Other $379,329 $101,748 -73.2% $3,681,961 $3,533,427 -4.0% $4,931,500 $1,398,073 71.7% Sewer Service Charges $9,166 $5,175 -43.5% $38,313,494 $39,532,131 3.2% $69,090,870 $29,558,739 57.2% Total Revenue $396,495 $112,210 -71.7% $42,067,455 $43,080,109 2.4% $89,560,370 $46,480,261 48.1% Page 3 of 30 Atyts entral Contra Costa Sanitary District Protecting public health and the environment Expense Report - District Summary MTD Fund: 001 -RUNNING EXPENSE(O&M) March 2020 Fiscal Period 09/2020 Report Generated on Apr 13, 2020 7:53:28 AM $70,000,000.00 —Budget Actual ,554,099 $60,000,000.00- 311,88 59,900,568 $50,000,000.00 213 754,861 , $47,474,517 $44',326,512 $40,000,000.00 � $39,949,042 $37,251,685 $30,000,000.00 $33,362,529 $29,611,473 $26,493,756 $20,000,000.00 $22,076,711 $15,010,366 $19,309,309 $10,000,000-00- $7,943,704 $13,029,620 $6,553,088 $0.00 Jul(1)2019 Aug(2)2019 Sep(3)2019 Oct(4)2019 Nov(5)2019 Dec(6)2019 Jan(7)2020 Feb(8)2020 Mar(9)2020 Fiscal Periods Page 4 of 30 A001' Central Contra Costa Sanitary District Protecting public health and the environment Expense Report - District Summary MTD Fund: 001 -RUNNING EXPENSE(O&M) March 2020 Fiscal Period 09/2020 Report Generated on Apr 13, 2020 7:53:28 AM Category Period Budget Period Actual Period Variance % YTD Budget YTD Actual YTD Variance % Annual % Budget SALARIES&WAGES $3,152,929 $2,985,599 $167,330 5.3% $28,376,361 $27,196,048 $1,180,313 4.2% $38,060,443 71.5% EMPLOYEE BENEFITS $1,560,433 $1,558,485 $1,948 0.1% $14,043,897 $13,117,038 $926,859 6.6% $19,177,010 68.4% CAPITALIZED ADM OVERHEAD ($370,691) ($379,562) $8,871 2.4% ($3,336,219) ($3,465,320) $129,101 3.9% ($4,448,369) 77.9% DIRECTOR FEES&EXPENSES $12,053 $14,918 ($2,865) -23.8% $108,477 $115,465 ($6,988) -6.4% $144,650 79.8% CHEMICALS $134,997 $21,814 $113,183 83.8% $1,214,973 $1,017,704 $197,269 16.2% $1,620,000 62.8% UTILITIES $350,773 $144,468 $206,305 58.8% $3,156,957 $3,011,340 $145,617 4.6% $4,209,350 71.5% REPAIRS&MAINTENANCE $416,883 $156,879 $260,004 62.4% $3,951,947 $3,132,608 $819,339 20.7% $5,242,867 59.7% HAULING&DISPOSAL $98,842 $81,805 $17,037 17.2% $889,578 $700,604 $188,974 21.2% $1,186,175 59.1% PROFESSIONAL&LEGAL SERV $72,850 $1,942 $70,908 97.3% $655,650 $231,294 $424,356 64.7% $874,300 26.5% OUTSIDE SERVICES $426,217 $233,239 $192,978 45.3% $2,825,670 $1,680,657 $1,145,013 40.5% $3,639,547 46.2% SELF-INSURANCE EXPENSE $0 $0 $0 0.0% $825,000 $825,000 $0 0.0% $825,000 100.0% MATERIALS&SUPPLIES $179,299 $159,019 $20,280 11.3% $1,613,866 $1,495,147 $118,719 7.4% $2,152,127 69.5% OTHER EXPENSES $136,509 $97,466 $39,043 28.6% $2,004,689 $1,603,943 $400,746 20.0% $2,464,834 65.1% UNFUNDED LIABILITIES $1,071,117 $1,069,637 $1,480 0.1% $9,223,253 $9,239,038 ($15,785) -0.2% $12,436,841 74.3% Total Expenses $7,242,211 $6,145,707 $1,096,504 15.1% $65,554,099 $59,900,568 $5,653,531 8.6% $87,584,775 68.4% Color Key: 0 to 10%over budget > 10%over budget M Page 5 of 30 ACV Ls entral Contra Costa Sanitary District Protecting public health and the environment Expense Report - By Department MTD Fund: 001 - RUNNING EXPENSE (O&M) March 2020 Fiscal Period 09/2020 Report Generated on Apr 13, 2020 7:50:18 AM $2,500,000 ❑Period Budget $25,000,000-" ❑YTD Budget ❑Period Actual ❑ YTD Actual $2,000,000 $20,000,000 $1,500,000 $15,000,000 ' $1,000,000 $10,000,000- $500,000- $5,000,000 $o $o M � ��GG°� °�\ Q��c°e� S�P �� `s��°�c � °�\oQ��oQ�c S�P��GyG��p� Period Budget Period Actual Period Variance YTD Budget YTD Actual YTD Variance ADMINISTRATION $1,992,983 $1,696,199 $296,784 $17,392,464 $14,852,894 $2,539,570 ENGINEERING $1,354,963 $1,219,417 $135,546 $12,709,609 $11,835,758 $873,851 COLLECTION SYSTEM OPS. $1,225,321 $1,115,190 $110,131 $11,035,214 $10,288,678 $746,536 PLANT OPERATIONS $2,295,519 $1,845,687 $449,832 $21,034,387 $19,880,853 $1,153,534 PUMP STATIONS $241,210 $195,959 $45,251 $2,170,890 $2,164,212 $6,678 RECYCLED WATER $132,215 $73,255 $58,960 $1,211,535 $878,173 $333,362 Totals $7,242,211 $6,145,707 $1,096,504 $65,554,099 $59,900,568 $5,653,531 Page 6 of 30 CENTRAL CONTRA COSTA SANITARY DISTRICT RUNNING EXPENSE FUND TEMPORARY INVESTMENTS Page 8 of 32 MARCH, 2020 INVESTMENTS INTEREST INCOME (cents omitted) (cents omitted) DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M % of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAW 10/99 - ------- 1 (1) $30,100,000 $17,100,000 $13,000,000 $30,100,000 $30,340,182 100.00% $43,286 $222,015 $265,301 RE13 FHLB FED AGENCY 9/18/2019 3/20/2020 0 1.899% 3,962,178 4,000,000 ($4,000,000) 0 0 0.00% 3,906 33,917 37,822 RE14 FHLB FED AGENCY 9/18/2019 3/18/2020 0 1.909% 3,962,387 4,000,000 ($4,000,000) 0 0 0.00% 3,513 34,040 37,553 RE15 FHLB FED AGENCY 12/20/2019 3/6/2020 0 1.612% 13,952,688 14,000,000 ($14,000,000) 0 0 0.00% 3,113 44,200 47,312 (3) $51,977,252 $39,100,000 ($9,000,000) $30,100,000 $30,340,182 100.00% 53,818 334,172 387,989 (2) 40,342 40,342 $53,818 $374,514 $428,331 NOTE:(1) Annual yield of Local Agency Investment Fund (LAIF)varies with the composition of the Fund. The estimated yield as of March, 2020 was 1.82°/x. (2) The face value indicates the value of the investment if held until maturity, which is the usual District Practice. (3) The weighted average yield of the total Running Expense portfolio is 1.7442%. The weighted average maturity is .15 years. (4) The market value of the portfolio on March 31, 2020 was $30,340,182. (5) All investments held by the Running Expense Fund comply with Central San's investment policy approved by the Board of Directors [California Government Code §53646(b)(2)] (6) Sufficient liquidity and anticipated revenues are available for Central San to meet budgeted expenditures of the Running Expense fund for the next six (6) months [California Government Code §53646(b)(3)] (7) Of the total investments held in the Running Expense Fund, $1,610,000 is restricted for the Rate Stabilization Fund. April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 54 of 118 Page 7 of 30 CENTRAL CONTRA COSTA SANITARY DISTRICT April 13, 2020 TO: THE BOARD OF DIRECTORS Kms? VIA: KEVIN MIZUNO �L FROM: CHRIS THOMAS SUBJECT: Sewer Construction Variance Analysis The following are brief year-to-date variance explanations through March 31, 2020: YTD Total FY YTD YTD Fav/(Unfav) S/C Revenues: Budget Budgeted Actual Variance Explanation Facilities Capacity Fees higher than budgeted due to payments received from Avalon Bay new building-200 apartments and $ 65,598,130 $ 30,611,717 $ 32,579,795 $ 1,968,078 commercial development. SSC Higher than budgeted. Total $ 65,598,130 $ 30,611,717 $ 32,579,795 $ 1,968,078 Total FY YTD YTD YTD S/C Expenses: Budget* Budgeted Actual Remaining %Spent of Projected YTD Budget Total $ 74,669,521 $ 41,107,974 $ 36,767,057 $ 4,340,917 89.44% Includes 18/19 carry-over($8,493,521) April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 55 of 118 Page 8 of 30 A001' Central Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 002-SEWER CONSTRUCTION (Capital) March 2020 Fiscal Period 9/2020 Report Generated on Apr 13, 2020 7:54:47 AM Category MTD Estimate MTD Actual MTD%Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Concord $0 $0 0.0% $0 $0 0.0% $11,630,000 $11,630,000 0.0% Other $592,997 $322,389 -45.6% $12,821,717 $14,146,925 10.3% $21,749,000 $7,602,075 65.0% Sewer Service Charges $0 $2,413 0.0% $17,790,000 $18,432,870 3.6% $32,219,130 $13,786,260 57.2% Total Revenue $592,997 $324,802 -45.2% $30,611,717 $32,579,795 6.4% $65,598,130 $33,018,335 49.7% Page 9 of 30 Sewer Fund (Capital) Spending FY 19-20 $45,000,000 $41,107,974 $40,000,000 36,997,176 $35,000,000 $36,767,057 $30,000,000 $25,000,000 / $20,000,000 $15,000,000 $10,000,000 $5,000,000 August September October November December January FebrL -Projected(100%spend) Actual 90%Target Columnl July August September October November December January February March Projected (100%spend) $ 2,066,477 $ 4,934,581 $ 11,789,041 $ 16,598,794 $ 23,961,059 $ 29,957,523 $ 33,451,390 $ 37,485,350 $ 41,107,974 Actual 1,627,894 4,282,657 9,740,422 14,081,728 22,921,092 27,320,984 30,609,927 34,554,831 36,767,057 90%Target 1 1,859,829 1 4,441,123 1 10,610,136 1 14,938,915 1 21,564,953 1 26,961,770 1 30,106,251 33,736,815 1 36,997,176 *Projected - Current year budget allocated by month based on historical spending in previous 2 years April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 57 of 118 Page 10 of 30 PROGRAM/GM185L4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 3/31/2020 PERIOD 9/2020 B C(A-B) D E F(D+E) G(C+D+E) L I(F-G) PROJECT TOTAL Pa e 12 ofOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENT IN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FY E 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE CS Collection System $ 16,633,417 17,490,252 (856,835) 27,129,000 200,000 27,329,000 26,472,165 11,688,226 14,783,948 TYPE TP Treatment Plant 44,592,999 39,917,024 4,675,975 28,631,000 665,000 29,296,000 33,971,975 18,584,449 15,387,514 TYPE GI General Improvements 8,695,483 5,883,070 2,812,413 5,369,000 30,000 5,399,000 8,211,413 4,333,402 3,878,011 TYPE RW Recycled Water 5,239,894 3,377,926 1,861,968 4,152,000 - 4,152,000 6,013,968 2,160,980 3,852,992 CIB Contingency - - - 895,000 (895,000) - - - - TOTAL DISTRIC $ 75,161,793 $ 66,668,272 $ 8,493,521 $ 66,176,000 $ $ 66,176,000 $ 74,669,521 $ 36,767,057 $ 37,902,465 N:\Accounting\GMTEMPI\Financials and Closing\2020 Financials\Capital Project report- FY 19 20 Mar '20 April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 58 of 118 Page 11 of 30 PROGRAM/GM185L4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 3/31/2020 PERIOD 9/2020 B C(A-B) D E F(D+E) G(C+D+E) I(F-G) PROJECT TOTAL Pa e 13 OTOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENT IN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE CS Collection System 5991 PH Sewer Renovation Phase 2 460,000 277,771 182,229 - - 182,229 5,000 177,229 6534 Harper Lane Area CAD 800,000 412,260 387,740 - - 387,740 208,038 179,702 *6602 South Jackson CAD 411,290 391,290 20,000 - - 20,000 15,191 4,809 *6603 North Jackson CAD 276,557 53,313 223,244 - - 223,244 184,309 38,935 6679 Coredell Drive CAD 123,443 54,906 68,537 - - 68,537 19,500 49,037 *7367 Concord Main Metering Station 250,000 245,826 4,174 - - 4,174 (10,973) 15,147 8419 Collection System Planning LT 985,000 984,958 42 200,000 200,000 200,042 110,239 89,803 8436 Moraga/Crossroads PS Project 3,747,000 3,218,526 528,474 4,600,000 4,600,000 5,128,474 1,031,817 4,096,657 8441 CIPP Contract 17-20 400,000 275,923 124,077 200,000 200,000 324,077 5,285 318,792 8442 PS Equipment Piping Replacement PH2 61,000 - 61,000 103,000 103,000 164,000 5,150 158,850 8443 LG Diameter Pipe line Inspection 250,000 18,484 231,516 515,000 515,000 746,516 1,042 745,474 8444 Force Main Inspection Program 125,000 - 125,000 - - 125,000 - 125,000 *8446 Lafayette Sewer Renovation Phase 12 4,033,600 3,715,186 318,414 - - 318,414 307,845 10,569 8447 Pump Station Security Improvement 156,000 - 156,000 51,000 51,000 207,000 - 207,000 8448 Manhole Modifications 712,000 860,375 (148,375) 309,000 309,000 160,625 108,000 52,625 8449 Collection System Modeling Support 200,000 130,135 69,865 103,000 103,000 172,865 10,224 162,641 8450 Development Sewerage Support 1,130,000 1,309,893 (179,893) 900,000 900,000 720,107 690,932 29,175 8451 C.S.Sewer Renovation 62,527 - 62,527 4,473,000 (2,000,000) 2,473,000 2,535,527 - 2,535,527 8452 Lafayette Sewer Ren. Ph. 13 500,000 1,561,461 (1,061,461) 3,817,000 3,817,000 2,755,539 2,544,368 211,171 8454 So.Orinda Sewer Ren. Ph.7 500,000 860,185 (360,185) 3,637,000 3,637,000 3,276,815 3,141,320 135,495 8455 W.C.Sewer Renov. Ph. 13 500,000 2,604,854 (2,104,854) 3,621,000 3,621,000 1,516,146 1,316,241 199,905 8456 Danville Sewer Ren. Ph.3 500,000 381,637 118,363 4,100,000 4,100,000 4,218,363 199,223 4,019,140 8457 Pump Station Upgrades-Ph.2 50,000 - 50,000 500,000 500,000 550,000 131,608 418,392 *8458 Martinez Sewer Renov. Ph. 6 100,000 11,405 88,595 - 500,000 500,000 588,595 416,553 172,042 *8459 Lafayette Sewer Renov. Ph. 14 100,000 24,336 75,664 - 500,000 500,000 575,664 337,276 238,388 *8460 WC Sewer Renov. Ph. 14 100,000 53,907 46,093 - 500,000 500,000 546,093 474,279 71,814 *8461 So. Orinda Sewer Ren. Ph. 8 100,000 43,621 56,379 - 500,000 500,000 556,379 409,160 147,219 **8462 S.R. Pump Station Flow Diversion - - - - 200,000 200,000 200,000 26,599 173,401 Rounding I I 9 Total FY 2019-20 CS Amount 16,633,417 17,490,252 (856,835) 27,129,000 200,000 27,329,000 26,472,165 11,688,226 14,783,948 *Italic Projects open but not in CIB for 19/20 ** Not in 19/20 Budget. New projects opened in Aug.2019. Funds transferred from Contingency 9990 N:\Accounting\GMTEMPI\Financials and Closing\2020 Financials\Capital Project report- FY 19 20 Mar '20 April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 59 of 118 Page 12 of 30 PROGRAM/GM185L4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 3/31/2020 PERIOD 9/2020 B C(A-B) D E F(D+E) G(C+D+E) 1(F-G) PROJECT TOTAL Pa(e 14 OTOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENT IN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE TP Treatment Plant *6172 Sludge Blending Tank Repair 776,000 - 776,000 - - 776,000 569,649 206,351 7292 Switchgear Refurbishment-Ph.2 684,548 473,274 211,274 200,000 200,000 411,274 222,633 188,641 7304 Instr&Controls PLC Upgrade 500,000 470,528 29,472 - - 29,472 2,252 27,220 7315 Applied Research and Innovations 557,274 290,336 266,938 300,000 300,000 566,938 17,192 549,746 7317 Plant Control System Network Upgrades 765,000 281,461 483,539 120,000 120,000 603,539 595,660 7,879 *7320 Plant Energy Optimization 1,094,000 1,004,604 89,396 - - 89,396 313 89,083 7322 Fire Protection System Ph.2 1,406,000 1,340,832 65,168 - - 65,168 44,147 21,021 *7326 Equipment Replacement FY 15-FY 24 1,629,000 1,628,975 25 - - 25 13,130 (13,105) 7327 Headwork's Screening Upgrade 8,305,000 8,304,264 736 - - 736 81,140 (80,404) 7328 Influent Pump Electrical improvements 610,000 431,527 178,473 800,000 800,000 978,473 521,096 457,377 7330 Piping Renovation Phase 9 3,180,000 3,127,343 52,657 - - 52,657 25,401 27,256 7339 T. Plant Control System 1/0 Replacement 1,370,000 1,286,269 83,731 1,100,000 1,100,000 1,183,731 171,029 1,012,702 7341 WC/Grayson Creek Levee Rehab 100,000 76,528 23,472 200,000 200,000 223,472 61,162 162,310 7348 Solids Handling Facility Improvements 9,914,000 9,243,507 670,493 6,550,000 6,550,000 7,220,493 4,091,703 3,128,790 7349 Aeration&Energy Upgrade 1,500,000 749,790 750,210 3,500,000 3,500,000 4,250,210 1,217,470 3,032,740 7351 Mechanical&Concrete Renovation 5,044,000 5,534,806 (490,806) 6,400,000 6,400,000 5,909,194 5,786,001 123,193 7352 UV Disinfection Upgrades 500,000 294,751 205,249 600,000 600,000 805,249 169,634 635,615 7353 Outfall Improvements Ph.7 100,000 54,551 45,449 500,000 500,000 545,449 292,175 253,274 7354 TP Security Improvements 137,000 41,951 95,049 718,000 718,000 813,049 55,517 757,532 7355 Odor Control Upgrade Ph. 1 - - - - - - - - 7357 Plant Wide Instrumentation Upgrade 290,000 77,858 212,142 450,000 450,000 662,142 31,433 630,709 *7358 Innovation Bioenergy Demo 300,000 270,796 29,204 - - 29,204 424 28,780 7359 Solids Conditioning Bldg. roof replacement 1,300,000 1,195,265 104,735 - - 104,735 440 104,295 7360 Existing Plant Facility Drawing 200,000 158,215 41,785 100,000 100,000 141,785 21,644 120,141 7362 POB Seismic Upgrades 3,331,177 2,850,440 480,737 2,793,000 465,000 3,258,000 3,738,737 3,710,494 28,243 7363 Treatment Plant Planning 900,000 719,153 180,847 500,000 500,000 680,847 276,425 404,422 7364 TP Safety Enhancement Ph.5 100,000 10,000 90,000 600,000 600,000 690,000 30,353 659,647 7369 Piping Renovation-Phase 10 - - - 750,000 750,000 750,000 4,475 745,525 7370 Annual Infrastructure Replacement - - - 2,200,000 2,200,000 2,200,000 546,770 1,653,230 7371 Condition Assessment of Buried Pipelines - - - 250,000 250,000 250,000 - 250,000 **7373 Fire Protection System Ph.3 - - - - 200,000 200,000 200,000 24,687 175,313 Rounding I I I 1 1 (12) Total FY 2019-20 TP Amount 44,592,999 39,917,024 4,675,975 28,631,000 665,000 29,296,000 33,971,975 18,584,449 15,387,51 *Italic Projects open but not in CIB for 19/20 ** Not in 19/20 Budget. New projects opened in Sept.2019. Funds transferred from Contingency 9990 N:\Accounting\GMTEMPI\Financials and Closing\2020 Financials\Capital Project report- FY 19 20 Mar '20 April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 60 of 118 Page 13 of 30 PROGRAM/GM185L4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 3/31/2020 PERIOD 9/2020 B C(A-B) D E F(D+E) G(C+D+E) 1(F-G) PROJECT TOTAL Pa(e 15 OTOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENT IN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE GI General Improvement 8207 General Security and Access $ 134,977 134,975 2 150,000 150,000 150,002 56,868 93,134 8230 Capital Legal Services 178,665 142,411 36,254 20,000 20,000 56,254 16,775 39,479 8236 District Easements 258,047 224,799 33,248 75,000 75,000 108,248 15,015 93,233 8240 IT Development 2,738,794 2,456,461 282,333 500,000 500,000 782,333 209,497 572,836 8243 Server Room Relocation 2,000,000 1,351,513 648,487 - - 648,487 1,044,951 (396,464) 8249 CSO Dump Pad Modifications 60,000 12,409 47,591 - - 47,591 46,941 650 8250 ERP Replacement 600,000 - 600,000 3,105,000 3,105,000 3,705,000 1,648,759 2,056,241 8251 Capital improvement program&Budget Improvement - - - 350,000 350,000 350,000 97,048 252,952 **8252 POB E.V.Charging Station - - - - 30,000 30,000 30,000 20,544 9,456 8516 District Equipment Acquisition 876,000 798,811 77,189 100,000 100,000 177,189 74,288 102,901 8517 Vehicle Replacement Program 1,849,000 821,691 1,027,309 1,069,000 1,069,000 2,096,309 1,102,266 994,043 9999 Capital Project Clearing(Accounting Use Only)** - (60,000) 60,000 - - 60,000 450 59,550 Rounding - Total FY 2019-20 GI Amount 8,695,483 5,883,070 2,812,413 5,369,000 5,399,000 8,211,413 4,333,402 3,878,01 ** Not in 19/20 Budget. New projects opened in July 2019. Funds transferred from Contingency 9990 N:\Accounting\GMTEMPI\Financials and Closing\2020 Financials\Capital Project report- FY 19 20 Mar '20 April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 61 of 118 Page 14 of 30 PROGRAM/GM185L4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 3/31/2020 PERIOD 9/2020 B C(A-B) D E F(D+E) G(C+D+E) 1(F-G) PROJECT TOTAL Pa(e 16 OTOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENT IN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE RW Recycled Water 7306 Zone 1 Recycled Water 532,894 508,654 24,240 100,000 - 100,000 124,240 44,376 79,864 7346 ReW Distribution Sys Surge Analysis 205,000 152,921 52,079 - - - 52,079 6,605 45,474 7361 Filter Plant Improvments 2,537,000 1,343,105 1,193,895 3,452,000 - 3,452,000 4,645,895 1,637,176 3,008,719 7365 Recycle Water Clearwell Repairs 1,700,000 1,364,144 335,856 - - - 335,856 396,727 (60,871) 7366 ReW Distribution System Renov. Program 15,000 - 15,000 500,000 - 500,000 515,000 15,996 499,004 7368 Water Exchange Project 250,000 9,102 240,898 100,000 - 100,000 340,898 60,100 280,798 Rounding 4 Total FY 2019-20 RW Amount $ 5,239,894 3,377,926 1,861,968 4,152,000 - 4,152,000 6,013,968 2,160,980 9990 CONTINGENCY-ALL PROGRAMS - - - 895,000 (895,000) - - - GRAND TOTAL $ 75,161,793 66,668,272 8,493,521 66,176,000 - 66,176,000 74,669,521 36,767,057 37,902,465 N:\Accounting\GMTEMPI\Financials and Closing\2020 Financials\Capital Project report- FY 19 20 Mar '20 April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 62 of 118 Page 15 of 30 A I B C D E F G N O 1 FY 19-20 CAPITAL BUDGET TRANSFERS 2 PERIOD ENDING:3/31/20 position paper GM Memo GM Memo GM Memo Position Paper 06/20/19&GM 08/22/19 09/24/19 09/27/19 11/21/19 memo Item 11 19/20 Contingency 3 PROD.# PROJECTS TOTAL Balance 4 5 **8252 POB E.V.Charging Station 30,000 30,000 6 **8462 SR Pump station Flow Diversion 200,000 200,000 7 **7373 Fire Protection System Ph.3 200,000 200,000 8 *8451 C.S.Sewer Renovation (2,000,000) (2,000,000) 9 *8458 Martinez Sewer Ren. Ph. 6 500,000 500,000 10 *8459 Lafayette Sewer Ren. Ph. 14 500,000 500,000 11 *8460 W.C.Sewer Renov. Ph. 14 500,000 500,000 12 *8461 So. Orinda Sewer Ren. Ph.8 500,000 500,000 38 7362 POB Seismic Upgrades 465,000 465,000 39 40 41 42 9990 Capital Projects-Contingency (30,000) (200,000) (200,000) - (465,000) (895,000) - 43 46 47 §§§ff Total - - 65 ** New project-not in 19/20 Budget 66 * Not actual transfers. All part of one project split into individual projects for construction April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 63 of 118 Page 16 of 30 O&M PROJECTS- EXPENDITURE LIST ACCOUNTING PERIOD ENDING: 03/31/20 9/2020 OM043 - Naval Weapons Station Prior years Project expended Expenditure type through 18-19 Jul. '19 Aug. '19 Sept. '19 Oct. 119 Nov. '19 Dec. '19 Jan. '20 Feb. '20 Mar. '20 Apr. '20 May'20 Jun. '20 2019-20 YTD to date Salary& Benefits $ 17,429 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 17,429 Technical Services $ 75,169 1,938 - 6,255 3,259 - - - - - - - - 11,452 $ 86,620 Total $ 92,598 $ 1,938 $ - $ 6,255 $ 3,259 $ - $ - $ - $ - $ - $ - $ - $ - $ 11,452 $ 104,049 Page 18 of 32 OM080 - CoCo Farm (Kiewit Future Farm Proposal) Prior years Project expended Expenditure type through 18-19 Jul. '19 Aug. '19 Sept. '19 Oct. 119 Nov. '19 Dec. '19 Jan. '20 Feb. '20 Mar. '20 Apr. '20 May'20 Jun. '20 2019-20 YTD to date Salary& Benefits $ 210,665 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 210,665 Other Charges $ 74,996 - - - - - - - - - - - - - $ 74,996 Total $ 285,661 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 285,661 OM083 - Refinery Recycled Water Exchange Prior years Project expended Expenditure type through 18-19 Jul. '19 Aug. '19 Sept. '19 Oct. '19 Nov. '19 Dec. '19 Jan. '20 Feb. '20 Mar. '20 Apr. '20 May'20 Jun. '20 2019-20 YTD to date Salary& Benefits $ 84,070 $ 8,921 $ 7,080 $ 5,452 $ 2,319 $ 2,865 $ 2,592 $ 1,274 $ 1,982 $ 1,699 $ - $ - $ - $ 34,186 $ 118,255 other Charges $ - - - - - - - - - - - $ - Total $ 84,070 1 $ 8,921 $ 7,080 $ 5,452 $ 2,319 $ 2,865 $ 2,592 $ 1,274 $ 1,982 $ 1,699 $ - $ - $ - $ 34,186 $ 118,255 N:\Accounting\GMTEMPI\Financials and Closing\2020 Financials\O&M Projects Activity YTD 19 20 April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 64 of 118 Page 17 of 30 Page 19 of 32 CENTRAL CONTRA COSTA SANITARY DISTRICT SEWER CONSTRUCTION FUND TEMPORARY INVESTMENTS MARCH, 2020 INVESTMENTS INTEREST INCOME (cents omitted) (cents omitted) DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M. %of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAIF 8/86-2/90 ---- 1 (1) $32,000,000 $34,000,000 ($2,000,000) $32,000,000 $32,255,342 100.00% $49,963 $377,099 $427,062 949 FHLB Fed Agency 9/18/19 03/20/20 0 1.90 4,952,722 5,000,000 (5,000,000) 0 0.00% 4,882 42,396 47,278 950 FHLB Fed Agency 9/18/19 03/18/20 0 1.91 4,952,983 5,000,000 (5,000,000) 0 0.00% 4,392 42,625 47,017 951 FHLB Fed Agency 12/23/19 3/20/20 0 1.62 14,941,883 15,000,000 (15,000,000) 0 0.00% 12,548 45,569 58,117 (4) $56,847,589 $59,000,000 ($12,000,000) $32,000,000 $32,255,342 100.00% 71,784 507,689 579,473 (3) (5) 235,804 235,804 71,784 $743,492 $815,277 NOTE: (1) Annual Yield of Local Agency Investment Fund (LAIF)varies with the composition of the Fund. The estimated yield as of March, 2020 was 1.820%. (2) The face value indicates the value of the investment if held until maturity, which is the usual District practice. (3) The weighted average yield of the total Sewer Construction portfolio is 1.7823%. The weighted average maturity is .11 years. (4) The market value of the portfolio on March 31,2020 was $32,255,342. GASB 31 requires adjusting investments to market value. The District will adjust annually, but report market values monthly. (5) All investments held by the Sewer Construction Fund comply with Central San's investment policy approved by the Board of Directors[California Government Code §53646(b)(2)] (6) Sufficient liquidity and anticipated revenues are available for Central San to meet budgeted expenditures of the Sewer Construction fund for the next six(6) months [California Government Code§53646(b)(3)] (7) Of the total investments held in the Sewer Construction Fund, $1,000,000 is restricted for the Rate Stabilization Fund. April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 65 of 118 Page 18 of 30 A001' Central Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 003-SELF-INSURANCE March 2020 Fiscal Period 9/2020 Report Generated on Apr 13, 2020 7:54:47 AM Category MTD Estimate MTD Actual MTD%Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Other $16,741 $10,666 -36.3% $975,669 $960,819 -1.5°% $1,025,900 $65,081 93.7% Total Revenue $975,669 $960,819 $65,081 93.7% Page 19 of 30 ACV Ls entral Contra Costa Sanitary District Protecting public health and the environment Expense Report - By Department MTD Fund: 003-SELF-INSURANCE March 2020 Fiscal Period 09/2020 Report Generated on Apr 13, 2020 7:50:18 AM $80,000 ❑Period Budget $1,000,000 ❑YTD Budget ❑Period Actual ❑ YTD Actual $800,000- $60,000- $600,000- $40,000-// 800,000$60,000 $600,000$40,000 ' $400,000- $20,000-,/ $200,000- $0- $0 Period Budget Period Actual Period Variance YTD Budget YTD Actual YTD Variance $76,972 $44,838 $32,134 $842,748 $725,736 $117,012 Totals $76,972 $44,838 $32,134 $842,748 $725,736 $117,012 Page 20 of 30 CENTRAL CONTRA COSTA SANITARY DISTRICT SELF-INSURANCE FUND TEMPORARY INVESTMENTS Page 22 of 32 MARCH, 2020 INVESTMENTS INTEREST INCOME (cents omitted) (cents omitted) DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M % of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAW 10/99 - ------- 1 (1) $6,900,000 $6,900,000 $6,900,000 $6,955,058 100.00% $10,666 $99,182 $109,848 (3) $6,900,000 $6,900,000 $0 $6,900,000 $6,955,058 100.00% 10,666 99,182 109,848 (2) (4) 2,921 2,351 5,272 $13,587 $101,533 $115,120 NOTE: (1) Annual yield of Local Agency Investment Fund (LAIF) varies with the composition of the Fund. The estimated yield as of March, 2020 was 1.820%. (2) The face value indicates the value of the investment if held until maturity, which is the usual District Practice. (3) The weighted average yield of the total Self-Insurance portfolio is 1.820%. (4) The market value of the portfolio on March 31, 2020 was $6,955,058. (5) All investments held by the Self Insurance Fund comply with Central San's investment policy approved by the Board of Directors [California Government Code §53646(b)(2)] (6) Sufficient liquidity and anticipated revenues are available for Central San to meet budgeted expenditures of the Self Insurance fund for the next six (6) months [California Government Code §53646(b)(3)] April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 68 of 118 Page 21 of 30 A001' Central Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 004-DEBT SERVICE March 2020 Fiscal Period 9/2020 Report Generated on Apr 13, 2020 7:54:47 AM Category MTD Estimate MTD Actual MTD%Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Other $0 $0 0.0°% $2,982,415 $2,982,415 0.0% $2,982,415 $0 100.0% Total Revenue 0.0% $2,982,415 $2,982,415 0.0% $2,982,415 Page 22 of 30 ACV ts entral Contra Costa Sanitary District Protecting public health and the environment Expense Report - By Department MTD Fund: 004- DEBT SERVICE March 2020 Fiscal Period 09/2020 Report Generated on Apr 13, 2020 7:50:18 AM $80,000 ❑Period Budget $800,000 ❑ YTD Budget ❑Period Actual ❑ YTD Actual $60,000 $600,000- $40,000-'-- 600,000 $40,000 $400,000- $20,000- $200,000- $0- $0 Period Budget Period Actual Period Variance YTD Budget YTD Actual YTD Variance $69,784 $0 $69,784 $628,056 $552,010 $76,046 Totals $69,784 $0 $69,784 $628,056 $552,010 $76,046 Page 23 of 30 DASHBOARD DATA (SELECTED DATA ON MATTERS OF CONTINUING BOARD INTEREST) April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 71 of 118 Page 24 of 30 PENSION AND OPER LIABILITY AND FUNDING STATUS Million Pension Million OPEB $160 100% $90 100% $140 90% $80 90% $120 80% $70 00e 80% 70% $60 70% $100 60% $50 60% $80 50% 50% $40 $60 40% 40% $30 30% 30% $40 $20 20% 20 $20 10% $10 ' 10% $o 2019 219 o% $0 2012 2013 2014 2015 2016 2017 2018 2019 0/ 2012 2013 2014 2015 2016 2017 2018 (Jan) (Jun) UAAL 142 121 101 88.2 81.5 74.1 73.9 UAAL 78 75.8 70.2 68 55.8 54 48.8 20.1 13.7 Funded% 56% 63% 70% 75% 78% 81% 82% Funded% 22% 27% 32% 37% 44% 48% 55% 75% 83% I�UAAL Funded% UAAL ! Funded% Notes: * Pension:2018 figure is based on CCCERA valuation presented 10/9/2019 to CCCERA Board. ** OPEB-Valuations projected liabilities less assets as of June 30 of that year *** Pension funded percentage excludes Section 115 Trust Assets(established in FY 2017-18). ****June 2019 OPEB figure is market value of OPEB assets/Jan 2019 actuarial accrued liability April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 72 of 118 Page 25 of 30 COMPONENTS OF THE PENSION URAL $74 MILLION AS OF 2018 CCCERA VALUATION ($74 MILLION IS UNCHANGED FROM 2017) tzo Assumption Change U J 73 Q a a, � i Q1 — Actuarial Gains(2014 forwar O � U r6 LL Additional UAAL Prepayment to CCCERA J Subsequent Actuarial Losses a a aj Restart of Amortization CLIO N vDiscount Rate from 7.75%to 7.25% L U N L O Depooling Implementation U M LL Actuarial Losses from 2008-2012 $(30,000,000) $(20,000,000) $(10,000,000) $ $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 Notes: • Pension Pre-Funding Trust assets of$8.4 million (with another$1.25 million pending) are available to further reduce UAAL indicated above. April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 73 of 118 Page 26 of 30 PENSION UAAL PROJECTION Anticipated UAAL with Scheduled Amortization (Blue) and with Additional UAAL Payments to Pension Prefunding Trust to Date and at $1.25 million millions prospectively (Red) $40 Net Asset $20 Sn X111 ■ Net Liability ($40) ($60) ($80) 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 ■UAAL(2018 Valuation) ($74) ($66) ($59) ($50) ($40) ($34) ($27) ($19) ($10) ($0) 0 Net UAAL(2018 Valuation) with Pension prefunding Trust offset (68.62) (58) (49) (38) (26) (18) (9) 1 11 22 Notes: • Based on 2018 CCCERA Valuation. • Chart shows scheduled amortization of UAAL(over 18 years for each annual layer of historic UAAL),assuming no additional UAAL is generated. • Second bar shows UAAL offset by Pension Prefunding Trust balance,with continuing$1.25 million discretionary contributions through 2025 (at which point additional contributions are ceased as the UAAL is forecast to be retired by 2025). April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 74 of 118 Page 27 of 30 CIB TRANSFERS=CURRENT YEAR Cause for Transfers Total Original Project Budgets Compared to Transfers #of transfers 5 $7,000,000 4 3 $6,000,000 2 $5,000,000 1 ■ 0 $4,000,000 $3,000,000 ■ own ■ a ■ o ■ o_ ■ v o ° CO 3 v v 3 v v v a, v ° o o Q 0 T $2,000,000 3 > c O N v LL s t Z v o u; V `° $1,000,000 F.Cost exceeded initial budget E. New project scope D.New Project C.Developer/CAD or other cost neutral �ddW B.Cashflow accelerations $- A.Bundling/Unbundling a ty 2�� Notes: 40 fit` Al There t There were no transfers in March 2020. m� April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 75 of 118 Page 28 of 30 CIB TRANSFERS SINCE FY 2016=17 Cause for Transfers Total Original Project Budgets Compared to #of Tra n sfe rs transfers $60,000,000 ` $50,000,000 I $40,000,000 6 4 $30,000,000 2 0 $20,000,000 ■ W ■ o ■ o ■ � ■ Q ■ v $10,000,000 a 0 8 v F.Cost exceeded initial budget a i d X E.New project scope m v a c m ai s D.New Project Q m o z ° " — C.Developer/CAD or other cost neutral 3 ° d 3 v :° B.Cashflow accelerations 0 o L z LL .__ $ A.Bundling/Unbundling L U O ui U m a� April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 76 of 118 Page 29 of 30 FY 2019-20 Running Expense Fund Total Cash & Investment Balances (Actuals through March 2020) $60.0 $59.3 $53.7 $51.2 $50.0 $47.2 $48.6 $49.8 $43.4 $46.0 $40.9 $41.0 $40.0 $37.3 $38.2 $33.8 $32.9 $34.6 $38.4 $30.0 $29.0 $28.2 $24.6 $24.2 $24.0 $23.7 $20.0 517.6 $18.9 $18.2 $10.0 $0.0 ee e� > �eQ D �o M Projected Balance* MActual Balance Reserve Target at Year End** NOTES: * Projected balances were generated in June 2019 based on budgeted revenues and expenses for FY 2019-20 and applied to the actual balance at Jun 30,2019 **The Reserve Target at Year End is the minimum balance required at June 30, 2020 to comply with the District Policy April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 77 of 118 Page 30 of 30 FY 2019-20 Sewer Construction Fund Total Cash & Investment Balances (Actuals through March 2020) $70.0 $67.5 $63.4 $62.5 �` $61.6 $59.1 +'60'0 $56.3 $58.3 $57.0 $52.4 $56.1 $52.3 $51.9 $52.6 $54.0 $52.1 $49.8 $50.7 $48.1 $50.0 $47.0 $47.6 $43.2 $42.6 $40.0 $39.2 $30.0 $32.0 $30.4 $20.0 $10.0 $0.0 MProjected Balance* MActual Balance -Reserve Target at Year End** April 21, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 78 of 118