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HomeMy WebLinkAboutPresentation_Workshop_11/4/2024 (2)Update Refuse & Recycling FundNovember 4, 2024 Refuse & Recycling Fund Update 2.26-2025FYduringblacktheinfundthekeeptoablebeingnotanticipateWe.FundRecycling&RefusetheoperatetoexpendituresFundGeneralthetorelatedcostsfor/year)000,9$at(calculated25 -2024FYor24-2023FYeitherforcollectedbeingareCostsIndirectNo.operations25-2024FYtheinreservesremainingtheofamountsubstantialausingbewillandyearsfivepasttheforbudgetthebalancetoreservesusingbeenhasFun dRecycling&RefuseTheCurrent Situation: Refuse & Recycling Fund Update 3 monthlybillingthanexpensivelessisitHowever,.paymentearlybyreduction%4ataketoresidenttheallowdoesoptionThis.monthlybillingofinsteadBillTaxPBCtheonitemValoremAd-Nonaasc ollectfeesrecycling&refuseutilizesVillageThe.25-2024FYforincrease%56.1atoequatesThis.annually/500,9$thanlessorFeeAdministrativeVillage/month25.0$awasincreasethisinIncluded./month46.3$orratesinincrea se%22approximateaninresultedagreementThis.pickuptrashautomatedforWMwithagreementanintoenteredVillagethe24-2023FYDuringCurrent Situation (continued): Refuse & Recycling Fund Update 4.26-2025FYincasethebewillThis.utilizedarereservestheuntilincreasescontractualthematchesVillagethesufficiently,increasereservestheOnce.operationssupporttoneededamounto verincreasereservesfund’stheuntilincreaserequiredcontractualthethanmorechargingofhistoryahasVillageTheCurrent Situation (continued): Refuse & Recycling Fund Operations 5 ActualActualActualActualActualActualActualBudget Unaudited FY16-17FY17-18FY18-19FY19-20FY20-21FY21-22FY22-23FY23-24FY24-25 Revenues$493,938$490,594$488,807$488,558$487,006$507,466$575,594$602,278$726,073 Expenses479,279479,478480,267496,619511,299529,107600,664617,327742,993 Net Income$14,659$11,116$8,540($8,061)($24,293)($21,641)($25,070)($15,049)($16,920) Reserves$ 106,982$ 118,098$ 126,638$ 118,577$ 94,284$ 72,643$ 47,573$ 32,524$ 15,604 Refuse & Recycling Fund Operations Projected WM Contracted Increase 5% Floor/6% Ceiling Depending on CPI 6 No Action other than the Contractual Increase BudgetProjectedProjectedProjectedProjectedProjected FY24-25FY25-26FY26-27FY27-28FY28-29FY29-30 Revenues$726,073$760,502$797,227$835,838$877,430$921,102 Expenses742,993789,885828,959869,976913,036958,241 Net Income($16,920)($29,383)($31,732)($34,138)($35,606)($37,139) Reserves$15,604($13,779)($45,511)($79,649)($115,255)($152,394) Refuse & Recycling Fund Projections WM Contracted Increase 5% Floor/6% Ceiling Depending on CPI 7 Scenario 1 = Increase 4%, 1%, years 1 & 2 above contracted 5% BudgetProjectionProjectionProjectionProjectionProjection FY24-25FY25-26FY26-27FY27-28FY28-29FY29-30 Revenues$726,073$789,245$835,240$875,752$919,340$965,107 Expenses742,993789,885828,959869,976913,036958,241 Net Income($16,920)($640)$6,281$5,776$6,304$6,866 Reserves$ 15,604 $ 14,964$ 21,245$ 27,021 $ 33,325 $ 40,191 Annual Rate$233.40$254.41$269.67$283.15$297.31$312.18 Change/Annually21.0115.2613.4814.1614.87 Change/Monthly1.751.271.121.181.24 Refuse & Recycling Fund Projections WM Contracted Increase 5% Floor/6% Ceiling Depending on CPI 8 Scenario 2 = Increase 2%, 2%, & 1% years 1, 2, & 3 above contracted 5% BudgetProjectionProjectionProjectionProjectionProjection FY24-25FY25-26FY26-27FY27-28FY28-29FY29-30 Revenues$726,073$774,873$827,694$876,056$919,659$965,442 Expenses742,993789,885828,959869,976913,036958,241 Net Income($16,920)($15,012)($1,265)$6,080$6,623$7,201 Reserves$ 15,604 $ 592($673)$ 5,407$ 12,030 $ 19,231 Annual Rate$233.40$249.74$267.22$283.25$297.41$312.28 Change/Annually16.3417.4816.0314.1614.87 Change/Monthly1.361.461.341.181.24 Refuse & Recycling Fund Projections WM Contracted Increase 5% Floor/6% Ceiling Depending on CPI 9 Scenario 3 = Increase 3%, & 2%, years 1, & 2, above contracted 5% BudgetProjectionProjectionProjectionProjectionProjection FY24-25FY25-26FY26-27FY27-28FY28-29FY29-30 Revenues$726,073$782,059$835,383$875,902$919,497$965,272 Expenses742,993789,885828,959869,976913,036958,241 Net Income($16,920)($7,826)$6,424$5,926$6,461$7,031 Reserves$ 15,604 $ 7,778$14,202$ 20,128 $ 26,589 $ 33,620 Annual Rate$233.40$252.07$269.71$283.20$297.36$312.23 Change/Annually18.6717.6413.4914.1614.87 Change/Monthly1.561.471.121.181.24 Refuse & Recycling Fund 10 No decision needs to be made on these scenarios or any other scenario until June 2025.These options will be discussed further during the first budget workshop.We are not in dire straights and no immediate action is necessary.Concluding Remarks: Questions 11