CITY OF COCOA, FLORIDA

Transcription

1 CITY OF COCOA, FLORIDA The following table describes the historical net revenues, debt service coverage, and cash flows of the Water and Waste Water System ( the System ) for Fiscal Years 2013 through CITY OF COCOA WATER AND WASTE WATER SYSTEM NET REVENUES, DEBT SERVICE COVERAGE, AND CASH FLOWS Fiscal Year Ended September Item Audited Audited Audited Audited Audited Total Water and Waste Water Revenues (1) $52,354,882 $53,786,075 $53,129,323 $55,394,026 $58,263,157 Cost of Operation and Maintenance (2) 27,602,721 27,792,525 29,455,290 30,195,204 31,556,645 Net Revenues 24,752,161 25,993,550 23,674,033 25,198,822 26,706,512 Pledged Water & Waste Water Impact Fees (3) 1,333,924 2,060,080 1,944,458 1,486,185 1,706,308 Debt Service Requirements: Annual Principal & Interest Prior Bonds 5,528,877 5,541,578 5,547,781 5,543,765 5,385,179 Debt Service Coverage Prior Bonds Net Revenues Only Net Revenues Plus Pledged Impact Fees Debt Service Requirements: Annual Principal & Interest Subordinate Debt 2,934,125 2,916,762 2,806,561 2,685,476 2,705,091 Debt Service Coverage Subordinate Debt Net Revenues + Pledged Water & Sewer Impact Fees available to pay Subordinate Debt Payment in lieu of Franchise Fee (4) 1,490,128 2,171,570 1,842,017 1,388, ,919 Surplus Revenues (5) 16,132,955 17,423,720 15,422,132 17,067,724 19,328,631 Transfer to General Account of Surplus Fund (6) $7,955,386 $9,533,553 $9,260,391 $5,432,540 $5,596,253 Transfer to Restricted Account of Surplus Fund (7) $8,177,569 $7,890,167 $6,161,741 $11,635,184 $13,732,378 Source: The City's Comprehensive Annual Financial Report. (1) Includes investment earnings and gain/(loss) on sale of assets and is net of Water and Waste Water impact fees and intergovernmental revenue. (2) Net of depreciation expense. (3) Equals 100% of total Water and Waste Water impact fees. (4) Represents amounts paid by the System to the City's General Fund as a payment in lieu of franchise fee. (5) Equals Net Revenues plus Pledged Water and Waste Water Impact Fees minus annual principal and interest and payment in lieu of franchise fee. (6) Amounts available to be transferred to City's General Fund or for any lawful purpose of the System. (7) Amounts available for capital improvements to the Water and Waste Water System. Page 1 of 8

2 City of Cocoa Water System Number of Customers as of September 30, 2017 and Average Monthly Consumption Total Meters Average Monthly Consumption Jurisdiction Quantity Percent Total (1,000 Gal) Per Meter (1,000 Gal) Percent of Total Cons City of Cocoa 6, % 45, % Other Incorporated Areas: Cape Canaveral 2, % 30, % Cocoa Beach 3, % 47, % Rockledge 10, % 60, % Titusville (Cypress Woods) % 1, % Total Other Incorporated 17, % 139, % Unincorporated Areas: Beaches % 29, % Merritt Island 18, % 123, % Mainland & Rockledge 10, % 63, % Suntree 17, % 98, % Port St. John 8, % 41, % Total Unincorporated 55, % 356, % U.S. Government Installations % 56,589 14, % Titusville 10" Meter % 9,402 9, % % 65,991 13, % Total 80, % 608, % Source: City of Cocoa, Water/Sewer Distribution Report, unaudited City of Cocoa Waste Water System Number of Customers as of September 30, 2017 Total Meters Average Monthly Consumption Total (1,000 Gal) Per Meter (1,000 Gal) Percent of Total Cons Number Percent Inside (incorporated) 5, % 35, % Outside (unincorporated) 1, % 6, % Total 6, % 41, % Source: City of Cocoa, Water/Sewer Distribution Report, unaudited Page 2 of 8

3 City of Cocoa Water System 10 Largest Water Service Customers Fiscal Year Ended September 30, 2017 Average Monthly Water Usage (1,000 Gallons) Average Monthly Water Billing Percent of Total Water Revenue Customer Name Patrick Air Force Base NASA #13 18,796 $ 65, % Patrick Air Force Base #10 N 16,751 58, % Patrick Air Force Base CC AFS #12 14,953 51, % Canaveral Port Authority #8 Ship 9,767 58, % City of Titusville Grissom Pkwy #10 8,674 35, % Canaveral Port Authority Wharf 5,413 25, % Canaveral Port Authority Cruise Term #5 5,041 23, % Florida Power & Light 6" 4,808 21, % Brevard County Jail Building 4,751 18, % Canaveral Port Authority 9239 CM Rowland 3,470 15, % Source: City of Cocoa, Finance Department. City of Cocoa Waste Water System 10 Largest Waste Water Service Customers Fiscal Year Ended September 30, 2017 Average Monthly Waste Water Usage (1,000 Gallons) Average Monthly Waste Water Billing Percent of Total Waste Water Revenue Customer Name Brevard County Jail Building 4,751 $ 6, % Riverstone Communities 1,565 10, % Shreeji Hotel Group LLC 428 3, % Gasperilla Lodging LLC 405 2, % Byrd Plaza Mobile Home Park LLC 358 2, % 800 N Fiske Condo Assoc , % Sonin Inc 319 2, % Eastern Florida State College 271 2, % Green Cocoa/Hot Cocoa LP 246 1, % Central Harbour LLC 203 1, % Source: City of Cocoa, Finance Department. Page 3 of 8

4 Calendar Year City of Cocoa, Florida Historical Water Production Average Day Production (MGD) Maximum Day Production (MGD) Maximum Day % Capacity Utilization (1) Source: City of Cocoa, Utilities Department. (1) Based on a maximum day permitted supply system capacity of 44 MGD through 1998, 48 MGD through 2014, and 60 MGD thereafter. City of Cocoa, Florida Historical Waste Water Flows Average Day Calendar Year Annual Average Day Flow (MGD) % Capacity Utilization (1) Source: City of Cocoa Utilities Department. (1) Capacity utilization is based on the permitted treatment capacity of the plant of 4.5 MGD. Page 4 of 8

5 Environmental and Permit Matters Operations of the System are subject to regulation by certain federal, state and local authorities. Federal and state standards and procedures that regulate and control operations of the System may change from time to time as a result of continuing legislative, regulatory, and judicial action. Compliance with changing regulations requires ongoing diligent attention by the City. The City is subject to regulation as to solid waste, water, and air quality by the United States Environmental Protection Agency (the EPA ) and the Florida Department of Environmental Protection ( FDEP ). The System currently is in compliance with all regulatory requirements of the EPA and FDEP. The City has permit #FL to operate a domestic waste water facility issued by the FDEP on September 25, 2013, through September 24, This permit allows treated effluent to be discharged to a public access reclaimed water reuse distribution system and disinfected/dechlorinated effluent to be discharged as a limited wet weather discharge to surface water via an outfall pipe to the Indian River Lagoon. The City has a FDEP-approved agricultural use plan and sludge hauling agreement to haul and land-apply sludge on pasture land. The St. Johns River Water Management District (District) issued Consumptive Use Permit (CUP) No to the City of Cocoa on November 11, 2003, for a 20-year period. The District s ten-year review of this permit was completed on November 10, This permit allows maximum average surface water withdrawals from Taylor Creek Reservoir of 8.83 million gallons per day and maximum average ground water withdrawals from Floridan and Intermediate Aquifers of million gallons per day in 2003 increasing to gallons per day in Litigation There are no material litigation matters related to the System as of September 30, Page 5 of 8

6 Rates, Fees and Charges Water Service and Consumption Charges The following is a description of the rates, fees, and charges effective October 1, (1) Fixed Monthly Charge: Meter Size Facilities Charge per Meter per Month Inside Cocoa Facilities Charge per Meter per Month Outside Cocoa 3/4 $ $ ½ , , , , , , (2) Usage rate per thousand gallons: 1st Tier 2nd Tier 3rd Tier 4th Tier Inside Cocoa $ 2.98 $ 5.71 $ 7.44 $ Outside Cocoa $ 3.28 $ 6.28 $ 8.18 $ inch meter over inch meter over inch meter over inch meter over inch meter ,680 over 1, inch meter ,380 1,381-2,760 over 2, inch meter 0-3,300 3,301-6,600 6,601-13,200 over 13, inch meter 0-12,000 12,001-24,000 24,001-48,000 over 48, inch meter 0-21,000 21,001-42,000 42,001-84,000 over 84,000 Page 6 of 8

7 (3) Water Impact Fee: Water service customers who require new connections or increased meter size will pay a nonrefundable, non-transferable impact fee based on the following schedules: Minimum service impact fee: Meter Size If Reclaimed Water is Not Available If Reclaimed Water is Available ¾ $ 1,750 Single Family Residence $ 1,300 If not Single Family Residence 1, ,375 4,375 1½ 10,500 10, ,750 22,750 For meters larger than 2, the impact fee will be calculated case by case. Residential impact fee: If Reclaimed If Reclaimed Water is Not Water is Unit Description ERC/Unit Available Available Single Family Residence 1.00 ERC $ 1,750 $ 1,300 1 Bath Apartment or Condo 0.80 ERC 1,400 1,400 2 Bath Apartment or Condo 1.00 ERC 1,750 1,750 Hotel/Motel or Timeshare Unit 0.60 ERC 1,050 1,050 Waste Water Service and Consumption Charges The following is a description of the rates, fees, and charges effective October 1, (1) Fixed Monthly Charge: (2) Usage rate per thousand gallons: Water Service Size Inside Cocoa Outside Cocoa ¾ $ $ ½ , , , , , , Inside Cocoa $6.57 Outside Cocoa $8.22 Page 7 of 8

8 (3) Waste Water Impact Fee & Other Charges: The City has imposed and collected waste water impact fees since The waste water impact fee was increased in 1985, 1987 and Effective January 13, 1998, the waste water system impact fee was reduced from $1,250 to $100 per ERC. Effective October 1, 2001, the waste water system impact fee was increased from $100 to $1,250 per ERC. All wastewater charges and fees shall be paid at or before the time of application for water service. No building permit shall be issued prior to the receipt of all waste water fees and charges. Page 8 of 8