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2013-01-22 Board of Selectmen Packet
Public Works — Enterprise Funds FY14 Budget Overview The Board of Selectmen will vote on new water, sewer and storm waters rates at an upcoming hearing prior to Town Meeting. The new rates will be effective with the September 2013 billing. Water Fund FY13 FY14 Change Wages $656,788 $673,759 +2.6% Ex (non -MWRA) $628,290 $616,982 -1.8% MWRA Expense* $1,813,825 $1,894,528 +3.1% Capital $643,000 $50,000 -92.2% Debt $1,326,051 $2,109,286 +52.3% Other $384,916 $394,543 +2.5% TOTAL $5,452,710 $5,649,098 +3.6% * +4.6% versus final FY13 assessment Water Enterprise Fund Water Supply is responsible for the administrative management, operation, technical support, maintenance and security of the drinking water supply in accordance with all Federal, State and local regulations. Water Distribution is responsible for maintaining and operating the municipal water distribution system in accordance with industry standards and all applicable regulations. In addition, this division oversees water meter installation, repair and meter reading as well as the maintenance of all fire hydrants. In total, the gross FY14 Water fund budget increases by 3.6% compared to one year ago. The use of Reserves is suggested to decline by $50,000 such that the net budget increase is 4.6 %. There are no changes in FTEs and wages are increased to reflect steps plus 1% COLA for non -union employees or at a level consistent with union contracts. Non -MWRA expenses are funded lower to adjust to recent trends. The funding of Other Post - Employment Benefits is continued with this budget. The $25 million water main projects are proposed to be funded over a period of many years. The first $6 million phase is proposed to begin in FY14. Below is a summary of the Current water main costs; the estimated Project cost (including 3% annual cost inflation plus roadway paving as needed); when the Work will begin and when the debt will be fully Repaid: Current Project Work Repaid Al $5.1mil $6.Omil FY14 FY14 -23 MWRA $2.3 $0 tba $0 A2 $1.0 $1.4 FY18 FY18 -21 A2 $1.9 $2.8 FY22 FY22 -28 A2 $0.8 $1.3 FY23 FY23 -24 B $4.0 $7.2 FY25 FY25 -34 C $10 $20 FY29 tba Total $25.Omi1 $38.7mil t qi 0 f�d 01/16/2013 12:19 OF READING 5 blelacheur (TOWN NEXT YEAR BUDGET HISTORICAL COMPARISON IPG bgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: WATER PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 0450 WATER - OPERATIONS 05 EXPENSES 61005519 519000 MEDICARE 7,000.00 5,793.85 5,774.84 .00 7,750.00 8,100.00 4.5% 61005519 519700 RETIREMENT 17,075.00 26,724.00 27,927.00 73,126.00 73,126.00 76,417.00 4.5% 61005519 519750 OPEB CONTR .00 .00 .00 .00 47,664.00 45,215.00 -5.1% 61005529 529433 HAZ WST DI 7,771.40 6,025.59 7,449.06 5,495.34 10,000.00 10,000.00 .0% 61005530 530110 LEGAL COUN 121.50 .00 .00 .00 5,000.00 .00 - 100.0% 61005530 530480 PRIMACEY A 5,530.87 5,551.27 5,267.71 5,454.45 5,500.00 5,500.00 .0% 61005530 530491 SVC WKFLD 7,601.06 7,857.29 7,870.50 4,150.45 8,000.00 8,000.00 .0% 61005531 531000 PRDEV TRN 1,666.00 2,569.52 5,838.00 614.00 5,000.00 5,000.00 .0% 61005574 574000 HEALTH INS 102,645.48 139,748.59 142,941.46 77,769.40 155,000.00 155,000.00 .0% 61005574 574010 PROP /CASUA 20,460.00 23,017.00 24,001.00 26,877.00 30,000.00 31,500.00 5.0% 61005574 574550 WC INSURNC 15,905.00 15,411.00 16,234.00 16,177.00 20,000.00 21,000.00 5.0% TOTAL EXPENSES 185,776.31 232,698.11 243,303.57 209,663.64 367,040.00 365,732.00 -.4% 07 DEBT SERVICE 61007591 591000 PRIN 1,375,000.00 1,375,000.00 1,370,000.00 675,000.00 958,500.00 1,558,500.00 62.6% 61007591 592000 INT 514,352.50 463,325.00 414,710.00 187,601.25 367,551.00 460,786.00 25.4% TOTAL DEBT SERVICE 1,889,352.50 1,838,325.00 1,784,710.00 862,601.25 1,326,051.00 2,019,286.00 52.3% 09 OTHER FINANCING USES 61009596 596111 WAGE -TNMGR 14,896.00 14,896.00 14,895.96 7,597.02 15,194.00 15,574.00 2.5% 61009596 596121 WAGE -ACCT 10,078.00 10,078.00 10,077.96 5,140.02 10,280.00 10,537.00 2.5% 61009596 596122 EXP -ACCT 180.00 180.00 180.00 91.98 184.00 189.00 2.7% 61009596 596131 WAGE -FIN 32,032.00 32,032.00 32,031.96 16,336.50 32,673.00 33,493.00 2.5% 01/16/2013 12:19 OF READING 6 blelacheur (TOWN NEXT YEAR BUDGET HISTORICAL COMPARISON IPG bgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: WATER PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 61009596 596132 EXP -FIN 21,653.00 21,653.00 21,653.04 11,043.00 22,086.00 22,638.00 2.5% 61009596 596141 WAGE -HR 4,900.00 4,900.00 4,899.96 2,499.00 4,998.00 5,123.00 2.5% 61009596 596142 EXP -HR 2,264.00 2,264.00 2,264.04 1,154.52 2,309.00 2,367.00 2.5% 61009596 596151 WAGE -TECH 31,777.00 31,777.00 31,776.96 16,206.48 32,413.00 33,223.00 2.5% 61009596 596152 EXP -TECH 30,418.00 30,418.00 30,417.96 15,513.00 31,026.00 31,802.00 2.5% 61009596 596161 WAGE -PWADM 104,690.00 104,690.00 104,690.04 53,392.02 106,784.00 109,454.00 2.5% 61009596 596171 WAGE -PWENG 98,407.00 98,407.00 98,406.96 50,187.48 100,375.00 102,884.00 2.5% 61009596 596181 WAGE -PWHWY 6,730.00 6,730.00 6,729.96 3,432.48 6,865.00 7,037.00 2.5% 61009596 596182 EXP -PWHWY 19,342.00 19,342.00 1.9,341.96 9,864.48 19,729.00 20,222.00 2.5% 61009596 596500 XFERTO ENT .00 .00 414,500.00 .00 .00 .00 .0% TOTAL OTHER FINANCING USES 377,367.00 377,367.00 791,866.76 192,457.98 384,916.00 394,543.00 2.5% TOTAL WATER - OPERATIONS 2,452,495.81 2,448,390.11 2,819,880.33 1,264,722.87 2,078,007.00 2,779,561.00 33.8% 0451 WATER - DISTRIBUTION 03 SALARIES 61013511 511010 ADMIN ASST .00 .00 .00 .00 .00 20,286.00 .0% 61013511 511401 SUPERVISOR 38,826.34 38,826.33 39,606.34 21,666.40 40,393.00 41,605.00 3.0% 61013511 511403 FOREMAN 58,677.28 58,182.46 60,668.32 34,386.23 61,896.00 63,140.00 2.0% 61013511 511405 WRKNG FRMN 89,073.54 125,585.72 99,351.19 52,175.83 114,576.00 116,874.00 2.0% 61013511 511409 EQUIP OPER 117,118.54 122,832.48 140,226.77 79,795.84 143,571.00 146,909.00 2.3% 61013511 511413 SKLLD LABR 78,502.24 57,211.78 41,711.24 23,689.65 42,220.00 43,506.00 3.0% 61013511 511417 LABORER 34,104.96 33,032.16 64,916.55 37,154.64 67,076.00 69,746.00 4.0% 61013511 511471 CLERK(S) 17,308.15 17,268.40 17,476.79 9,822.69 18,640.00 .00 - 100.0% 61013511 511481 SNOW REMOV .00 .00 .00 .00 - 6,500.00 - 6,500.00 .0% 61013511 515000 OVERTIME 62,495.18 52,509.30 78,570.57 20,559.76 55,000.00 56,000.00 1.8% 61013511 516050 OUT OF GRA 01/16/2013 12:19 blelacheur PROJECTION: 20142 ACCOUNTS FOR: WATER (TOWN OF READING NEXT YEAR BUDGET HISTORICAL COMPARISON FY14 Enterprise Funds IPG 7 bgnyrpts FOR PERIOD 99 PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 1,894.10 5,517.60 5,164.80 3,375.80 4,500.00 5,000.00 11.1% 61013511 516060 ONCALL PRM 9,760.00 10,492.00 10,270.00 5,888.00 10,000.00 11,000.00 10.0% 61013511 516080 LONGEVITY 6,625.00 6,825.00 5,550.00 5,550.00 7,500.00 7,500.00 .0% 61013512 512000 WAGES TEMP 6,552.33 5,303.74 6,172.72 2,846.58 8,000.00 8,000.00 .0% 61013517 517017 SCK LV BBK .00 .00 2,968.64 .00 .00 .00 .0% TOTAL SALARIES 520,937.66 533,586.97 572,653.93 296,911.42 566,872.00 583,066.00 2.9% 05 EXPENSES 61015521 521301 ELECTRICIT 9,678.95 10,497.81 8,361.89 5,202.63 11,000.00 11,000.00 .0% 61015521 521303 NATRL GAS 353.50 301.91 264.62 134.22 500.00 500.00 .0% 61015521 521392 WRLS PHONE 2,902.39 2,864.58 2,851.63 1,488.43 1,500.00 1,500.00 .0% 61015530 530420 PLCE DTAIL 9,583.69 10,413.62 12,280.86 7,900.00 16,000.00 16,000.00 .0% 61015530 530470 WTR SYSTEM 5,516.96 1,730.69 7,976.26 5,933.81 10,000.00 10,000.00 .0% 61015530 530472 MAIN PIPE/ 9,706.52 760.00 9,790.00 840.00 10,000.00 10,000.00 .0% 61015530 530474 SVC PIPE /M 59,507.28 59,001.75 72,145.27 43,674.16 50,000.00 50,000.00 .0% 61015530 530478 CROSS CONN 4,900.00 5,160.00 5,380.00 1,900.00 8,000.00 8,000.00 .0% 61015531 531000 PRDEV TRN .00 .00 1,400.00 .00 .00 .00 .0% 61015536 536000 LIC SFTWR 4,084.15 7,000.00 .00 2,000.00 10,000.00 10,000.00 .0% 61015540 540470 WD GEN SUP 24,736.81 24,160.62 15,692.79 8,359.96 25,000.00 25,000.00 .0% 61015540 540472 MAIN PIPE 24,406.91 23,288.30 20,772.04 12,150.15 30,000.00 30,000.00 .0% 61015540 540474 SVC METERS 151.00 380.00 .00 420.00 7,000.00 7,000.00 .0% 61015554 554000 UNFM /CLTH 3,949.21 4,227.97 4,860.53 2,400.00 5,500.00 5,500.00 .0% 61015578 578100 LICENSES 864.00 347.00 990.00 325.00 750.00 750.00 .0% TOTAL EXPENSES 160,341.37 150,134.25 162,765.89 92,728.36 185,250.00 185,250.00 .0% O8 CAPITAL EXPENDITURES w 01/16/2013 12:19 TOWN OF READING PG 8 blelacheur NEXT YEAR BUDGET HISTORICAL COMPARISON bgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: WATER PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 61018584 584410 BOBCATLOAD .00 44,044.20 .00 .00 .00 .00 .0% 61018584 584411 VAN #2 00 37,933.61 .00 .00 .00 .00 .0% 61018584 584418 TRUCK #12 .00 .00 39,954.45 .00 .00 .00 .0% 61018585 585000 ADDTNL EQU 6,769.88 .00 .00 .00 .00 .00 .0% 61018585 585451 METRINSTAL 180,000.00 177,916.09 .00 .00 .00 .00 .0% 61018585 585461 TANK INSP .00 .00 .00 .00 550,000.00 .00 - 100.0% 61018588 588450 SYSTEMS 57,595.86 - 92,245.27 - 89,245.27 .00 .00 50,000.00 .0% TOTAL CAPITAL EXPENDITURES 244,365.74 167,648.63 - 49,290.82 .00 550,000.00 50,000.00 -90.9% TOTAL WATER - DISTRIBUTION 925,644.77 851,369.85 686,129.00 389,639.78 1,302,122.00 818,316.00 -37.2% 0452 WATER - SUPPLY / TREATMENT 03 SALARIES 61023511 511461 SUPERVISOR 84,062.88 84,062.88 84,062.88 45,998.40 85,416.00 86,193.00 .9% 61023511 511481 SNOW RMVL .00 .00 .00 .00 - 500.00 - 500.00 .0% 61023511 515000 OVERTIME 5,586.11 5,958.50 11,393.59 4,425.31 5,000.00 5,000.00 O% TOTAL SALARIES 89,648.99 90,021.38 95,456.47 50,423.71 89,916.00 90,693.00 .9% 05 EXPENSES 61025521 521301 ELECTRICIT 24,721.78 24,596.31 19,710.36 8,767.07 24,000.00 24,000.00 .0% 61025521 521308 FUEL OIL .00 2,077.62 1,518.11 .00 3,000.00 3,000.00 .0% 61025521 521309 SWR /STM WA 127.90 214.72 214.72 107.36 500.00 500.00 .0% 61025521 521390 TELEPHONE 2,291.25 1,616.96 1,135.89 437.39 2,500.00 2,500.00 .0% 61025524 524471 MWRA VALVE .00 .00 .00 .00 10,000.00 .00 - 100.0% 61025530 530000 OUT PRFSVC 11,355.56 5,781.00 4,184.34 10,569.23 10,000.00 10,000.00 .0% 61025530 530457 WELL MISC .00 2,073.86 .00 .00 .00 .00 .0% 61025540 540000 SUPPLIES 01/16/2013 12:19 TOWN OF READING PG 9 blelacheur NEXT YEAR BUDGET HISTORICAL COMPARISON Ibgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: WATER PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 4,213.34 1,439.80 1,794.13 974.13 6,000.00 6,000.00 .0% 61025540 540455 WELL SUPPL 3,670.93 10,990.54 9,223.98 6,804.60 20,000.00 20,000.00 .0% 61025540 540499 WTR EMERGN 25,200.50 .00 1,180.44 .00 .00 .00 .0% 61025563 563400 MWRA 1,737,501.00 1,726,878.00 1,772,389.00 905,606.00 1,813,825.00 1,894,528.00 4.4% TOTAL EXPENSES 1,809,082.26 1,775,668.81 1,811,350.97 933,265.78 1,889,825.00 1,960,528.00 3.7% 08 CAPITAL EXPENDITURES 61028583 583000 PLANT .00 .00 67,396.35 .00 56,000.00 .00 - 100.0% 61028584 584407 PICKUP TRK .00 .00 .00 35,219.16 37,000.00 .00 - 100.0% TOTAL CAPITAL EXPENDITURES .00 .00 67,396.35 35,219.16 93,000.00 .00 - 100.0% TOTAL WATER - SUPPLY / TREAT 1,898,731.25 1,865,690.19 1,974,203.79 1,018,908.65 2,072,741.00 2,051,221.00 -1.0% 0990 OTHER FINANCING SOURCES /USES 09 OTHER FINANCING USES 61009590 599910 DEBT COSTS .00 .00 2,500.00 .00 .00 .00 .0% TOTAL OTHER FINANCING USES .00 .00 2,500.00 .00 .00 .00 .0% TOTAL OTHER FINANCING SOURCE .00 .00 2,500.00 .00 .00 .00 .0% TOTAL WATER 5,276,871.83 5,165,450.15 5,482,713.12 2,673,271.30 5,452,870.00 5,649,098.00 3.6% READING CAPITAL IMPROVEMENTS PROGRAM WATER MAIN PHASE A -1 IMPROVEMENTS Phase Street Name From and To Street Limits Diam (in) Material Install Year Length (feet) Recommendation Unit Price Year 2012 Project Cost Road Paving Cost Total Project Cost A -1 MAIN ST Woburn St to Mill St 12 Cl 1890 12,313 Clean & Line $140 $1,723,809 $1,723,809 A -1 MILL ST Main St to Town Line 12 Cl 1890 1,724 Clean & Line $140 $241,360 $241,360 A -1 LOCUST ST Main St to Auburn St Tank 12 Cl 1890 1,016 Clean & Line $140 $142,250 $142,250 A -1 MAIN ST South St to Hopkins St 6 Cl 1892 658 Abandon $50 $32,879 $32,879 A -1 MAIN ST Ash St to Hopkins St 6 Cl 1892 4,633 Repl w/ 8" DI $165 $764,390 $283,107 $1,047,497 Phase R1 -A Subtotal $2,904,687 $3,187,795 A -1A Chute St. Woburn St to Haven St 6 Cl 1890 450 Repl w/ 8" DI $165 $74,324 $32,500 $106,824 A -1A Haven St Main St to High St 8 Cl 1890 1,228 Repl w/ 8" DI $165 $202,539 $56,734 $259,273 A -1A Sanborn St Haven St to Woburn St 6 Cl 1890 576 Repl w/ 8" DI $165 $95,012 $48,000 $143,012 A -1A Linden St Haven St to Woburn St 6 Cl 1891 600 Repl w/ 8" DI $165 $99,000 $19,067 $118,067 A -1A High St Haven St to Washington St 6 Cl 1890 1,226 Repl w/ 8" DI $165 $202,282 $129,411 $331,693 A -1A Washington St Minot St to Ash St 6 Cl 1930 518 Repl w/ 8" DI $165 $85,436 $15,195 $100,631 Phase R2 -A Subtotal $758,593 $1,059,499 A -1B Bear Hill Rd. Summer Ave to Hopkins St 12 Cl 1929 1,186 Clean & Line $140 $166,048 $166,048 A -1 B Linden St Woburn St to Lowell St 6 CI 1891 968 Repl w/ 8" DI $165 $159,746 $64,533 $224,279 A -1 B Minot St Main St to Washington St 6 Cl 1892 1,559 Repl w/ 8" DI $165 $257,159 $103,933 $361,092 A-113 Summer Ave Hopkins St to Bear Hill Rd 6 Cl 1909 1,486 New 12" DI $185 $274,845 $47,222 $322,067 A -1 B Libby Ave Salem St to end 6 Cl 1925 2,282 Repl w/ 8" DI $165 $376,550 $126,778 $503,328 A -1 B X Country Belmont St to Libby Ave 1,105 New 8" DI $200 $220,901 $220,901 Phase R2 -13 Subtotal $1,455,249 $1,797,715 'Material: Cast Iron (CI), Ductile Iron DI TOTAL COST PHASE A -1 (2012 Dollars) $5,118,529 $6,045,009 READING CAPITAL IMPROVEMENTS PROGRAM WATER MAIN IMPROVEMENTS ASSOCIATED WITH MWRA 2ND CONNECTION TBA SOUTH ST & Under 1 -93 Under 1 -93 to Walnut St 6 & 12 various 1,993 Abandon $50 $99,661 TBA WALNUT ST South St to Hopkins St 6 CI 1899 2,736 New 12" DI $185 $506,101 TBA SOUTH ST West St to 1 -93 X -ing 8 CI 1957 &61 2,358 New 12" DI $185 $436,285 TBA WEST ST Border Rd to South St 12 CI 1958 1,418 Repl w /20" DI $250 $354,536 TBA LEACH PARK METER VAULT $750,000 TBA BEAR HILL TANK Abandon $150,000 TOTAL COST SUBTOTAL $2,296,583 'Material: Cast Iron (CI), Ductile Iron (DI) TOTAL COST MWRA 2ND CONNECTION (2012 Dollars) $2,296,583 $2,298,583 READING CAPITAL IMPROVEMENTS PROGRAM WATER MAIN PHASE A -2 IMPROVEMENTS A -2 X Country West St to Causeway Rd 1,406 New 8" DI $200 $281,267 $281,267 A -2 SALEM ST Main St to Bay State Rd 8 CI 1890 4,567 Repl w/ 8" DI $165 $753,621 $167,471 FY 2016 SUBTOTAL $1,034,888 $1,202,360 A -2 GROVE ST Lowell St to Franklin Ave 8 CI 1930 4,425 Abandon $50 $221,243 $221,243 A -2 LOWELL ST High St to Grove St 8 CI 1 1932 670 Abandon $50 $33,507 $33,507 A -2 MAIN ST Haven St to Bolton St 8 CI 1932 4,692 Abandon $50 $234,611 $234,611 A -2 FRANKLIN ST Grove St to Main St 8 cl various 7,666 Repl w/ 8" DI $165 $1,264,843 $234,230 $1,499,073 A -2 GROVE ST Franklin St to Spruce Rd 8 CI 1930 746 Repl w/12" DI $185 $138,074 $45,610 FY 2017 SUBTOTAL $1,892,278 $2,172,119 A -2 ASH ST Main St to Brook St 6 CI 1902 2,861 Abandon $50 $143,066 $143,066 A -2 LOWELL ST Bradford Rd to Grove St 6 CI 1898 2,759 Repl w/ 8" DI $165 $455,234 $214,588 $669,822 A -2 BEAR HILL TANK Abandon $150,000 FY 2018 SUBTOTAL $748,300 $ 'Material: Cast Iron (CI), Ductile Iron DI TOTAL COST PHASE A -2 (2012 Dollars) $3,675,467 $4,337,367 TOTAL COST PHASE A -1, A -2 & MWRA (2012 Dollars) $11,090,579 $12,678,959 READING CAPITAL IMPROVEMENTS PROGRAM WATER MAIN PHASE B IMPROVEMENTS Improveme nt Year Street From & To Street Limits Dia. in Material . Installation Year Length (ft) Recommendation 2012 Unit Price Year 2012 Project Cost B WOBURN ST Summer Ave to Main St 10 Cl 1891 4,118 Clean & Line $140 $576,518 B FOREST GLEN RD Main St to Pearl St 6 Cl 1925 812 Repl w/ 8" DI $165 $133,910 B FOREST ST Grove St to Main St 6 Cl 1925 5,073 Repl w/ 8" DI $165 $837,075 B OAK ST West St to Summer Ave 6 Cl 1897 2,724 Repl w/ 8" DI $165 $449,476 B SUMMER AVENUE Willow St to Woburn St 6 CI 1891 3,958 Repl w/ 8" DI $165 $653,070 B WOBURN ST Summer Ave to West St 6 Cl 1891 1,319 Repl w/ 8" DI $165 $217,635 B VAN NORDEN RD Franklin St to Forest St 6 Cl 1927 4,324 Repl w/ 8" DI $165 $713,434 B WAKEFIELD ST Pearl St to Charles St 6 Cl 1925 2,493 Repl w/ 8" DI $165 $411,384 TOTAL $3,992,501 Material: Cast Iron (CI), Ductile Iron DI TOTAL COST PHASE B (2012 Dollars) READING CAPITAL IMPROVEMENTS PROGRAM WATER MAIN PHASE C IMPROVEMENTS $3,992,501 � i Improveme nt Year Street From &o Street Limits 'P Dia. in Material* Installation Year Length (fl) Recommendation 2012 Unit Price Year 2012 Project Cost C VARIOUS STREETS Balance of Unlined Pipe Cl Var. 56,500 Clean & Line and Replacement $140 $10,000,000 TOTAL $10,000,000 'Material: Cast Iron (CI), Ductile Iron DI TOTAL COST PHASE C (2012 Dollars) $10,000,000 \ TOTAL COST PHASE A -C & MWRA (2012 Dollars) $25,083,080 Approved Water Ent. Fund Capital & Debt FY -2012 Phase Current* 5.1% Approved Requested Projected =_> FY -2013 FY -2014 FY -2015 FY -2016 FY -2017 FY -2018 FY -2019 I FY -2020 o Legend: a (issued) an no ye approve FY -2021 FY -2022 FY -2023 FY -2024 Estimated Project Cost 3.0% inflation rate per Weston Samson 1M2 Reading Phase #1$6.0miV10yr Al 6,045,009 6,000,0001 6,050,000 Reading Phase #2 $3.Omil TBA 2,985,558 None - MWRA 1,400,000 1,250,000 2,800,000 J 2,200,000 pay as part of negotiations 1,287,500 1,326,125 1,365,909 2,266,000 2,333,980 2,403,999 1,030,000 1,080,900 1,092,727 5,356,000 5,516,680 5,682,180 13,390,000 1 13,791,700 14,205,451 Reading Phase #3$1.4miV4yr A2 1,202,360 1,406,886 Reading Phase #4 $2.8miV7yr A2 2,172,119 2,476,119 2,550,403 2,626,915 2,705,723 2,786,894 Reading Phase #5 $1.3miU2yr A2 962,889 1,300,000 1,000,000 1,125,509 1,159,274 1,194,052 1,229,874 1,266,770 1,304,773 Reading Phase #6 $7.2miV10yr B 5,190,251 7,200,000 5,200,000 5,852,646 6,028,225 6,209,072 6,395,344 6,587,204 6,784,821 6,988,365 Reading Phase #7 $20MIL TBA C 13,000,000 20,000,000 13,000,000 14,631,615 672,000 - 15,070,563 660,000 - 15,522,680 648,000 - 15,988,360 636,000 - 16,468,011 624,000 - 16,962,051 612,000 - 17,470,913 - _ 'includes pavement allowance phases Al &A2 acduals, TBA, B & C estimated at +30%) Estimated Debt service -total 11 1 6.0% estimated long -term borrowing cost Reading Phase #1$6.0miV10yr Al $4mil MWRA 0% int 720,000 708,000 696,000 684,000 Reading Phase #2 $3.Omil TBA - - - - Reading Phase #3 $1.4miV4yr A2 - - - 434,000 413,000 392,000 371,000 - - - Reading Phase #4 $2.8mill7yr A2 - - - - - - - - 568,000 544,000 520,000 Reading Phase #5 $1.3mil /2yr A2 - - - - - - - - 578,000 848,000 Reading Phase #6 $7.2miUlOyr B - - - - - - - - - - Reading Phase #7 $20MIL TBA C - I - - - - - - - - - TOTAL 720,000 708,000 696,000 684,000 1,106,000 1,073,000 1,040,000 1,007,000 1,192,000 1,734,000 1,368,000 PREV. 680,000 650,000 620,000 590,000 1,080,000 1,030,500 1,281,000 1,231,500 1,162,000 1,852,500 1,776,000 Estimated Debt service • Principal Reading Phase #1$6.OmiVlOyr 10 600, 000 600, 000 600, 000 600, 000 600, 000 600, 000 600,000 600,000 600,000 600,000 Reading Phase #2 $3.Omil Reading Phase #3 $1.4miMyr 4 350,000 350,000 350,000 350,000 Reading Phase #4 $2.8miV7yr 7 1 400,000 400,000 400,000 Reading Phase #5 $1.3miV2yr 2 500,000 800,000 Reading Phase #6 $7.2miV10yr 10 Reading Phase #7 $20MIL TBA TOTAL 600, 000 600, 000 600, 000 600, 000 950,000 950,000 950,000 950,000 1,000,000 1,500,000 1,200,000 Estimated Debt service - Interest Reading Phase #1 $6.0miV10yr $4mil MWRA 0% int 120,000 108,000 96,000 84,000 72,000 60,000 48,000 36,000 24,000 12,000 Reading Phase #2 $3.Omil Reading Phase #3 $1.4miV4yr 84,000 63,000 42,000 21,000 Reading Phase #4 $2.8miV7yr 168,000 144,000 120,000 Reading Phase #5 $1.3miV2yr 78,000 48,000 Reading Phase #6 $7.2miV10yr Reading Phase #7 $20MIL TBA TOTALI I 1 1 120,0001 108,0001 96,000 $4,000 156,0001 123,000 90,0001 57,000 192,000 1 234,000 168,000 ange tow ital+debt 13.4% -4.1% -3.9% -10.8% -25.7% -3.0% FY13 -34 Water Ent. Fund Capital 8 Debt FY -2025 FY -2026 FY -2027 FY -2028 FY -2029 FY -2030 FY -2031 FY -2032 FY -2033 FY -2034 TOTAL Phase Reading Phase #1 $6.0mi1 /1Oyr Al Reading Phase #2 $3.0mil TBA Reading Phase #3 $1.4mil /4yr A2 Reading Phase #4 $2.8miV7yr A2 Reading Phase #5 $1.3miV2yr A2 Reading Phase #6 $7.2m!VlOyr B 7,198,016 Reading Phase #7 $20MIL TBA C 17,995,040 18,534,892 19,090,938 19,663,666 20,253,576 'includes pavement a, Estimated Debt service - total Reading Phase #1 $6.0miV10yr Al Reading Phase #2 $3.Omil TBA - - - - - - - - Reading Phase #3 $1.4miV4yr A2 - - - - - - - - - - Reading Phase #4 $2.8miV7yr A2 496,000 472,000 448,000 424,000 - - - - - - Reading Phase #5 $1.3miV2yr A2 - - - - - 936,000 892,800 - - Reading Phase #6 $7.2miU10yr B 1,152,000 1,108,800 1,065,600 1,022,400 979,200 849,600 - 806,400 - 763,200 - Reading Phase #7 $20MIL TM C - - - - - - - 936,000 892,800 531,000 504,000 TOTAL 1,648,000 1,580,800 1,513,600 1,448,400 979,200 849,600 808,400 763,200 22,744,000 1,699,500 1,623,000 1,546,500 1,145,000 1,088,000 477,000 Estimated Debt service - Principal Reading Phase #1$6.0irnWI0yr 10 Reading Phase #2 $3.Omil Reading Phase #3 $1.4miV4yr 4 Reading Phase #4 $2.8miV7yr 7 400,000 400,000 400,000 400,000 Reading Phase #5 $1.3miV2yr 2 Reading Phase #6 $7.2miV10yr 10 720,000 720,000 720,000 720,000 720,000 720,000 720,000 720,000 720,000 720,000 Reading Phase #7 $20MIL TBA TOTAL 1,120,000 1,120,000 1,120,000 1,120,000 720,000 720,000 720,000 720,000 720,000 720,000 18,700,000 Estimated Debt service - Interest Reading Phase #1 $6.0miV10yr Reading Phase #2 $3.Omil Reading Phase #3 $1.4miV4yr Reading Phase #4 $2.8miV7yr 96,000 72,000 48,000 24,000 Reading Phase #5 $1.3miU2yr Reading Phase #6 $7.2miV10yr 432,000 388,800 345,600 302,400 259,200 216,000 172,800 129,600 86,400 43,200 Reading Phase #7 $20MIL TBA TOTALI I 528, 000 1 460,8001 393,800 326,4001 259,2001 216,0001 172,800 129,6001 88,400 43,200 1 044,000 Annual change to water capital+debt 5.1% 4.4% -0.1% Approved Approved Requested Projected = => Water Ent. Fund Capital & Debt FY -2012 FY -2013 FY -2014 FY -2015 FY -2016 FY -2017 5.0% -2.3% 5.7% -0.3% 2.1% -15.5% egen : Debt (Issued) and Debtx not yet approve FY -2018 FY -2019 FY -2020 FY -2021 FY -2022 FY -2023 FY -2024 Water Capital Water Debt 783,500 1,785,591 643,000 1,326,051 50,000 2,019,286 180,000 1,979,721 320,000 400,000 75,000 325,000 1,836,975 1,797,229 2,193,589 2,057,369 325,000 512,000 341,000 2,002,369 1,947,369 2,110,369 100,000 100,000 2,401,869 2,013,869 Total Capital & Debt 2,569,091 1,969,051 2,069,286 2,159,721 2,156,975 2,197,229 2,268,589 2,382,369 2,327,369 2,459,369 2,451,369 2,501,869 2,113,869 Water CAPITAL 783,500 643,000 50,000 180,000 320,000 400,000 75,000 325,000 325,000 512,000 341,000 100,000 100,000 Water Supply Treatment Plant Design 1 Debt Debt Debt Debt MWRA ($3.18mil partial join) 2 Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt MWRA ($7.8mil full join) 3 Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt Debt WTP demo & chlorine ($800k) 4 5 Debt Debt Debt Debt Debt Debt Debt WTP demo & chlorine ($450k) Debt 56,000 Wells Upgrade 94,000 Well Abandonment 225,000 Hydraulic Study - 2nd Connect Replace Pickup Truck #3 (2003) 37,000 Water Distribution Various Water Mains ($2.471mil) 6 Debt WM:Haverhill&Howard ($2.285m) 7 414,500 Debt mwra Debt Debt Debt Debt Debt Debt Debt Debt Debt WM: Howard - County - Summer WM RepUAbnd R#1$6.OmiU10yr WM RepUAbnd R#2 $3. Om MWRA WM RepUAbnd R#3 $1.4miNyr WM RepUAbnd R#4 $Zft117yr 8 pays 9 1 10 Debtx Debtx Debtx Debtx Debtx Debtx Debtx Debtx Debt( Debtx Debbf Debtx Debtx Debtx Debtx Debtx Debtx WM RepUAbnd R#5 $1.3miU2yr 11j Debtx WM RepUAbnd R#6 $7.26Y10yr 12 WM RepUAbnd R#7 2Omi1 TBA 13 WM: Larch Lane 120,000 WM Lining Program 50,000 50,000 50,000 75,000 75,000 75,000 75,000 100,000 100,000 100,000 100,000 Meter Replacement assume +3%tyr inflation 250,000 250,000 250,000 Water System Hydraulic Model . Tank Inspect & Design: Aubum(FY12) 70,000 12,000 12,000 Tank Maintenance: Auburn I 550,000 Bear Hill Storage Tank ($1.4mil) - remove pending MWRA 2nd connection Booster Station SCADA X009 130,000 SCADA Upgrade (every 5 yrs) 25,000 Replace Bob Cat loader Replace Pickup Truck #12 (1997) 40,000 42,000 Replace Van #2 30,000 Replace Truddl6 120,000 Replace Trudk#14 120,000 Replace Badkhoe #420E 100,000 Replace Utility Truck #5 150,000 Replace Crane Truck #12 Replace Pickup #15 42,0001 1 Annual change to water capital+debt 13.4% -4.1% -3.9% -10.8% -25.7% -3.0% FY13.34 Water Ent. Fund Capital & Debt FY 2025 FY -2026 FY -2027 FY -2028 FY -2029 FY -2030 FY -2031 FY -2032 FY -2033 FY -2034 TOTAL Water Capital 125,000 1 125,000 125,000 125,000 483,333 483,333 483,333 150,000 175,000 175,000 5,820,999 Water Debt 2,271,575 2,172,175 2,083,188 1,844,200 979,200 936,000 892,800 - 806,400 763,200 36,434,801 Total Capital & Debt 2,396,575 2,297,175 2,208,188 1,969,200 1,462,533 1,419,333 1,376,133 150,000 981,400 938,200 42,255,800 Water CAPITAL 125,000 125,000 125,000 125,000 483,333 483,333 483,333 150,000 175,000 175,000 5,820,999 Water Supplv Treatment Plant Design 1 MWRA ($3.18mil partial join) 2 Debt Debt Debt MWRA ($7.8mil full join) 3 Debt Debt Debt Debt - - - WTP demo & chlorine ($800k) 4 - WTP demo & chlorine ($450k) 5 - Wells Upgrade - Well Abandonment 225,000 Hydraulic Study .2nd Connect 56,000 Replace Pickup Truck 93 (2003) 37,000 Water Distribution - Various Water Mains ($2.471mil) 6 - WM:Haverhill &Howard ($2.285m) 7 - WM: Howard-County- Summer - WM RepUAbnd R#1$6.OmiUlOyr 8 - WM RepUAbnd R#2 $3.Om MWR4 pays - WM RepUAbnd Rik? $1.46114yr 9 - WM RepUAbnd R#4 $2804117yr 10 Debtx Debtx Debtx Debtx WM RepUAbnd R#5 $1.3miY2yr 11 WM RepUAbnd R#6 $7.2rWY10yr 12 Debtx Debtx Debtx Debtx Debby Debby Debby Debby Debtx Debby WM RepUAbnd R#7 20mi1 TBA WK-larch Lane 13 125,000_ 120,000 WM Lining Program Meter Replacement assur Water System Hydraulic Model 125,000 125,000 125,000 150,000 150,000 150,000 150,000 175,000 175,000 2,300,000 333,333 333,333 333,333 1,749,999 - Tank Inspect & Design: Auburn(FY12) 24,000 Tank Maintenance: Auburn 1 1 550,000 Bear Hill Storage Tank ($1.4mil) - remov - Booster Station SCADA 130,000 SCADA Upgrade (every 5 yrs) 25,000 Replace Bob Cat loader Replace Pickup Trudy #12 (1997) 42,000 Replace Van #2 30,000 Replace Truck#6 120,000 Replace Truck #14 120,000 Replace Backhoe #420E 100,000 Replace Utility Truck #5 150,000 Replace Crane Truck #12 - Replace Pickup #15 42,000 Annual change to water capital+debt 5.1% 4.4% -0.1% 1.9% 3.2% 5.0% -2.3% -0.3% 2.1% -15.5% Approved Approved Requested Projected =_> I Legend: Debt ssue and Debtx not yet approve Water Ent. Fund Capital & Debt FY -2012 FY -2013 FY -2014 FY -2015 FY -2016 FY -2017 FY -2018 FY -2019 FY -2020 FY -2021 FY -2022 FY -2023 FY -2024 Wdw DEBT T75,591 1,979,721 1,836,975 2,193,589 2,057,369 2,002,369 1,9V-Kg--TM, 69 2,401,869 Water Treatment Plant Design 1 Jan MWRA(partial $3.18m) 2 X64,656 25 , , ,656 --2F7T19 -229J-W--2R,069 5 5 56 57 , 217,669 211,269 5 ,800 536,200 522,600 ,220 !VW, 4M-,4W 192,069 185,669 475,800 ,656 Jan MWRA(full $7.8m) 3 7, 4 Demo WTP /chlorinate($0.8m) 88,540 66,100 228,500 228,50 Demo WTP /chlorinate ($450k) 5 Water Mains($2.471m) 6 WM:Haverhill &Howard ($2.285m) 7 228,500 226,500 ,5 WM RWAbndR#1$6.OrWY10yr1 8 720,000 708,000 696, 00 - WM RepUAbnd Rf 2 -$3. Om MWRA pays WM RepUAbnd Rff3 $1.4miU4yr 9 WM RepUAbnd R#4 $2.8mi1/7yr 10 WM RepUAbnd R #5 $1.3miU2yr 11 WM RepUAbnd R#6 $7.2miY1Oyr 12 WM RepUAbnd R#7 20mil TBA 13 - - - - - - - - - - - - - - - - - - ,000 - - - - - - Repayment of Principal: 1,370,000 ,5 9 1 , 1,458,500 1,80F6W 1,728,500 1,778,5 2,050,000 ,750, 00 Water Treatment Plant Design 1 60,0000 160,000 ,000 X600 390,000 _ X000 160,00-6---160,-OW- 390,0 1 160,000 390,000 Jan MWRA(partial $3.18m) 2 60,000 60,000 90,000 80,00 28,500 0,000 ,000 ,000 160,000 160,0-W 160, Jan MWRA(full $7.8m) 3 3 0,000 80,000- 0, 39,W Demo WTP /chlorinate($0.8m) 4 Demo WTP /chlorinate ($450k) 5 Water Mains($2.471m) 6 WM:Haverhill &Howard ($2.285m) WM RepUAbnd R#1 MOM* WM Rep11Abed R#2 $3.Om M WPJ 7 ,5 8 - - - - - - - - - - 0 WMRepUAbndRff3$1.*04yr 9 - - - - - - WM RepUAbnd R#4 $2 8miY7yr 10 - - - - - - WM RepUAbnd R#5 $1.3r*2yr 11 - - - - - - WM RepUAbnd R#6 $7 2miY10yr WM RepUAbnd R#7 20mil TBA 12 - - - - - - - 13 Interest on Long Term Debt: , , W --CW --TW --MFW 385,089 273,869 , , , Water Treatment Plant Design 1 2 7 5-7-,W- 51,269 2,600 ' 5, Jan MWRA(partial $3.18m) Jan MWRA(full $7.8m) 3 ,775 7, 7 , Demo WTP /chlorinate($0.8m) 4 5, Demo WTP /chlorinate ($4,o0k) 5 Water Mains($2.471m) 6 WM:Haverhill &Howard ($2.285m) 7 - - - - - - - - WM RepUAbnd R#1$6. OmiYlOyr 8 - WM RepUAbnd R#2 $3 Om MWPJ 0 - - - - - - - - - - - WM RepUAbnd R#3 $1.4nMyr 9 - - - - 84,000 U, W W - - - WM RepUAbnd R#4 $2.8miY7yr 10 - - - - - WM RepUAbnd R#5 $1.3nuM2yr 11 - - - - - WM RepUAbnd R#6 $72mWl yr 12 - - - - - - - - - WM RepUAbnd R#7 20m1I TBA 13 Annual change to water capital debt 13.4% -4.1% -3.9% -10.8% -25.7% 0 FY13.34 Water Ent. Fund 6@61 & Debt FY -2025 FY -2026 I FY -2027 FY -2028 FY -2029 FY -2030 FY -2031 FY -2032 FY -2033 FY -2034 TOTAL Water DEBT 2,271,575 2,172,175 979,200 763,200 Water Treatment Plant Design 1 1 ----T7-8,-97-5 326,200 3,157,025 Jan MWRA(partial $3.18m) 2 16 J75 56,188 , 00 413,400 Jan MWRA(full $7.8m) 3 X00 8, , Demo WTP /chlorinate($0.8m) 4 Demo WTP /chlorinate ($450k) 5 . Water Mains($2.471 m) 6 WM:Haverhill &Howard ($2.285m) 7 2,285,000 WM RepUAbnd R#1$6.OmfU10yr 8 - 6,660,000 WM RepUAbnd R#2 $3 .Om MWRA pays - - WM RepUAbnd Rn $1.4mi44yr 9 WM RepUAbnd R#4 $28adY7yr 10 496,000 - 1,152, 000 4 - - 1 1,108, 800 1,065,600 - - ' 1, 022,4— - - - WM RepUAbnd R#5 $1.3miWyr 11 12 WM RepUAbnd R#6 $72miY10yr WM RepUAbnd R#7 20mil TBA 13 — - _71NOW - - - Repayment of Principal: 116NIO00 6,065, Water Treatment Plant Design 1 --T5 300,000 Jan MWRA(partial $3.18rr 2 50,000 4,-W 2,380,000 Jan MWRA(full $7.8m) 3 6,240,000 Demo WTP /chlorinate($0.8m) 4 480,000 Demo WTP /chlorinate ($450k) 5 Water Mains($2.471m) 6 WM:Haverhill &Howard ($2.285m) WM RepUAbnd R# 1 $6. OrWY10yr WM RepUAbnd R#2 $3 .Om MWPj 7 720, 000 2,285,000 8 - - - 1000,000 0 - - - WM RepUAbnd R#3 $1.4mNyr 9 - 720, 000 - 1,400,000 WM RepUAbnd R#4 $2.8mi1/7yr WM RepUAbnd R#5 $1.3mi1/2yr WM RepUAbnd R#6 $7.2mi1/lOyr WM RepUAbnd R#7 20mi1 TBA 10 - - 2,800,000 11 12 13 - 72-0,W - - 720.000 - - 1 300 000 7, ,000 Interest on Long Term Debt: , 259,200 172,800 , Water Treatment Plant Design 1 2 75 75 25,200 Jan MWRA(partial $3.18m) 777,025 Jan MWRA(full $7.8m) 3 7, W 2,008,256 Demo WTP /chlodnate($0.8m) 4 43,920 Demo WTP /chlorinate ($450k) 5 Water Mains($2.471 m) 6 WM:Haverhill&Howard ($2.285m) 7 - - - - - WM RepUAbnd R#1$6.0miU10yr 8 00,00 WM RepUAbnd R#2 $3.Om MWPj 0 WM RepUAbnd R#3 $1.4miU4yr 9 - - - - - - , WM RepUAbnd R#4 $2 8miU7yr 10 - WM RepUAbnd R#5 $1.3mir4r 11 - - I - - WM RepUAbnd R#6 $7.2nM0yr 12 01 345,600 WM RepUAbnd R#7 20mi1 TBA 13 Sewer Enterprise Fund The Sewer Division is responsible for operating the municipal sewer collection systems in accordance with all applicable state, federal and MWRA regulations for the collection and discharge of wastewater. This ranges from maintaining and repairing 100 miles of sewer mains and 12 pumping stations to responding to customer service needs for individual sewer and drainage problems. In total, the gross FY14 Sewer fund budget increases by 6.2% compared to one year ago. The use of Reserves is suggested to stay at $150,000 such that the net budget increase is 6.3 %. The chart below summarizes the proposed FY14 budget: Sewer Fund FY13 FY14 Change Wages $275,144 $283,935 +3.2% Ex (non -MWRA) $403,926 $402,361 -0.4% MWRA Expense* $4,383,478 $4,525,186 +3.2% Capital $330,000 $510,000 +54.6% Debt $115,800 $136,934 +18.20/( Other $264,198 $270,805 TOTAL $5,772,546 $6,129,221 * +4.6% versus final FY13 assessment There are no changes in FTEs and wages are increased to reflect steps plus 1% COLA non -union increase or at a level consistent with union contracts. Non -MWRA expenses are funded lower to adjust to recent trends. The funding of Other Post - Employment Benefits is continued with this budget. In FY14 a $460,000 sewer main project for three streets (Lewis, Howard and Charles) is scheduled. Sewer station repairs are scheduled to begin with West Street (FY15) and Batchelder Road (FY16) and be completed by FY26. This schedule proposes to work on the projects in current DPW priority order, but the schedule may change if conditions change. Debt financing for all twelve of these projects was considered but discarded for several reasons. First, for the $4.2 million in anticipated capital repairs the additional interest costs added $1 million to these projects. Second, as a practical matter repairs on all twelve stations would need to be spread out over a few years. Third, doing these projects on a pay -as- you -go basis allows for flexibility both in terms of capital work and financing, in case other priorities arise. 01/16/2013 12:19 TOWN OF READING PG 1 blelacheur NEXT YEAR BUDGET HISTORICAL COMPARISON bgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: SEWER PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 0440 SEWER - OPERATIONS 03 SALARIES 62003511 511010 ADMIN ASST .00 .00 .00 .00 .00 20,286.00 .0% 62003511 511401 SUPERVISOR 38,826.38 38,826.40 39,606.37 21,666.40 40,393.00 41,605.00 3.0% 62003511 511405 WRKNG FRMN 55,887.19 49,893.39 49,721.29 28,235.37 50,825.00 51,857.00 2.0% 62003511 511409 EQUIP OP 51,907.68 51,907.68 53,507.15 30,299.20 54,539.00 55,624.00 2.0% 62003511 511413 SKLLD LABR 37,375.53 3,500.21 .00 .00 .00 .00 .0% 62003511 511417 LABORER 57,800.14 54,557.71 67,132.86 38,438.61 69,747.00 72,563.00 4.0% 62003511 511471 CLERK(S) 17,308.47 17,268.81 17,476.96 9,822.91 18,640.00 .00 - 100.0% 62003511 511481 SNOW RMVL .00 .00 .00 .00 - 2,500.00 - 2,500.00 .0% 62003511 515000 OVERTIME 20,856.34 21,296.14 24,031.08 24,225.92 35,000.00 36,000.00 2.9% 62003511 516050 OUT OF GRA 23.76 3,838.40 6,673.20 3,447.55 3,500.00 3,500.00 .0% 62003511 516060 ONCALL PRM 2,644.00 2,196.00 2,747.00 1,280.00 2,950.00 2,950.00 .0% 62003511 516080 LONGEVITY 3,125.00 1,950.00 1,075.00 1,075.00 2,050.00 2,050.00 .0% 62003517 517017 SCK IV BBK .00 .00 2,968.63 .00 .00 .00 .0% TOTAL SALARIES 285,754.49 245,234.74 264,939.54 158,490.96 275,144.00 283,935.00 3.2% 05 EXPENSES 62005519 519000 MEDICARE 1,000.00 1,595.53 1,906.44 .00 1,125.00 1,400.00 24.4% 62005519 519700 RETIREMENT 14,876.00 22,273.00 23,275.00 27,234.00 27,234.00 28,460.00 4.5% 62005519 519750 OPEB CONTR .00 .00 .00 .00 9,667.00 7,901.00 -18.3% 62005521 521301 ELECTRICIT 28,536.59 26,781.71 26,963.78 13,581.61 33,000.00 33,000.00 .0% 62005524 524469 STATIONREP .00 .00 .00 7,000.00 30,000.00 30,000.00 .0% 62005524 524474 MANHOLE .00 .00 8,478.75 .00 10,000.00 10,000.00 .0% 62005524 524475 I &I REIMB 500.00 800.00 .00 .00 .00 .00 .0% 01/16/2013 12:19 TOWN OF READING 2 blelacheur NEXT YEAR BUDGET HISTORICAL COMPARISON IPG bgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: SEWER PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 62005524 524476 I &IPREVENT .00 .00 60,697.86 6,093.60 100,000.00 100,000.00 .0% 62005529 529433 HAZ WST DI 8,429.33 9,970.00 7,571.50 .00 10,000.00 10,000.00 .0% 62005530 530000 PURCH SVC 19,793.05 20,495.33 21,608.22 11,051.00 20,000.00 20,000.00 .0% 62005530 530110 LGL COUNSL .00 .00 .00 .00 2,500.00 2,500.00 .0% 62005530 530420 PLCE DTAIL 1,844.98 5,387.10 10,778.11 .00 6,000.00 6,000.00 .0% 62005530 530490 CNTSVCPUMP 14,745.01 8,943.43 19,432.90 5,888.51 15,000.00 15,000.00 .0% 62005530 530492 SYS INSPEC 14,750.00 1,761.58 10,662.32 .00 15,000.00 15,000.00 .0% 62005531 531000 PRDEV TRN .00 .00 .00 .00 1,000.00 1,000.00 .0% 62005536 536000 LIC SFTWR 1,000.00 1,000.00 .00 1,000.00 10,000.00 7,000.00 -30.0% 62005540 540490 PMPSTASUPP 3,182.04 3,776.68 893.91 2,000.00 7,000.00 7,000.00 .0% 62005540 540493 DIST SYS 3,930.78 3,786.54 1,654.16 511.05 8,000.00 8,000.00 .0% 62005540 540495 CHEMICALS 3,355.96 3,339.48 3,576.12 1,733.75 12,000.00 7,000.00 -41.7% 62005554 554000 UNFM /CLOTH 2,844.91 2,079.96 1,724.95 1,479.99 2,200.00 2,200.00 .0% 62005563 563400 MWRA 3,844,457.00 3,922,082.00 4,128,058.00 2,163,091.00 4,383,478.00 4,525,186.00 3.2% 62005574 574000 HEALTHINS 58,067.08 63,975.69 64,291.39 38,132.57 70,000.00 75,000.00 7.1% 62005574 574010 P &C INSUR 627.00 726.00 1,127.00 850.00 1,200.00 1,250.00 4.2% 62005574 574500 DEDUCT /CLM 8,415.00 1,090.00 2,500.00 .00 .00 .00 .0% 62005574 574550 WC INSURNC 10,181.00 10,368.00 11,624.00 9,821.00 13,000.00 13,650.00 5.0% 62005578 578100 LICENSES 60.00 135.00 180.00 .00 .00 1,000.00 .0% TOTAL EXPENSES 4,040,595.73 4,110,367.03 4,407,004.41 2,289,468.08 4,787,404.00 4,927,547.00 2.9% 07 DEBT SERVICE 62007591 591000 PRIN 167,543.00 116,800.00 116,800.00 86,240.00 115,800.00 136,934.00 18.3% 62007591 592000 INT 7,406.25 4,312.50 1,406.25 .00 .00 .00 .0% TOTAL DEBT SERVICE 174,949.25 121,112.50 118,206.25 86,240.00 115,800.00 136,934.00 18.3% 01/16/2013 12:19 blelacheur PROJECTION: 20142 ACCOUNTS FOR: SEWER (TOWN OF READING NEXT YEAR BUDGET HISTORICAL COMPARISON FY14 Enterprise Funds IPG 3 bgnyrpts FOR PERIOD 99 PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE O8 CAPITAL EXPENDITURES 62008584 584416 TRUCK #6 .00 .00 42,759.46 .00 .00 .00 .0% 62008584 584417 TRUCK #10 .00 .00 38,864.46 .00 .00 .00 .0% 62008584 584422 BACKHOE .00 .00 .00 78,000.00 130,000.00 .00 - 100.0% 62008585 585000 ADDTNL EQU 122,156.00 .00 .00 .00 .00 .00 .0% 62008585 585451 METRINSTAL 53,618.48 25,651.00 .00 .00 .00 .00 .0% 62008588 588411 CALIF RD S .00 52,204.66 - 545.27 .00 .00 .00 .0% 62008588 588450 SYSTEMS .00 .00 .00 190,549.63 200,000.00 .00 - 100.0% 62008588 588502 SEWER MAIN .00 .00 .00 .00 .00 460,000.00 .0% 62008588 588503 WEST SEWER .00 .00 .00 .00 .00 50,000.00 .0% 62008588 588505 INFLOW /INF 99,135.98 62,742.51 .00 .00 .00 .00 .0% TOTAL CAPITAL EXPENDITURES 274,910.46 140,598.17 81,078.65 268,549.63 330,000.00 510,000.00 54.5% 09 OTHER FINANCING USES 62009596 596111 WAGE -TNMGR 14,062.00 14,062.00 14,061.96 7,172.52 14,345.00 14,704.00 2.5% 62009596 596121 WAGE -ACCTG 9,517.00 9,517.00 9,516.96 4,855.02 9,710.00 9•,953.00 2.5% 62009596 596122 EXP -ACCTG 170.00 170.00 170.04 87.48 175.00 179.00 2.3% 62009596 596131 WAGE -FIN 30,249.00 30,249.00 30,249.00 15,430.02 30,860.00 31,632.00 2.5% 62009596 596132 EXP -FIN 20,440.00 20,440.00 20,439.96 10,425.00 20,850.00 21,371.00 2.5% 62009596 596141 WAGE -HR 4,628.00 4,628.00 4,628.04 2,360.52 4,721.00 4,839.00 2.5% 62009596 596142 EXP -HR 2,137.00 2,137.00 2,136.96 1,090.02 2,180.00 2,235.00 2.5% 62009596 596151 WAGE -TECH 29,998.00 29,998.00 29,997.96 15,298.98 30,598.00 31,363.00 2.5% 62009596 596152 EXP -TECH 28,715.00 28,715.00 28,715.04 14,644.50 29,289.00 30,021.00 2.5% 62009596 596161 WAGE -PWADM 47,475.00 47,475.00 47,475.00 24,212.52 48,425.00 49,636.00 2.5% 62009596 596171 WAGE -PWENG 60,065.00 60,065.00 60,065.04 30,633.00 61,266.00 62,798.00 2.5% 09 OTHER FINANCING USES 62009590 599910 DEBT COSTS 3,000.00 TOTAL OTHER FINANCING USES 3,000.00 TOTAL OTHER FINANCING SOURCE 3,000.00 TOTAL SEWER 5,061,213.93 IPG 4 bgnyrpts FOR PERIOD 99 CY REV PROJECTION PCT BUDGET LEVEL 2 CHANGE 2,467.00 2,529.00 2.5%; 9,312.00 01/16/2013 12:19 2.5% TOWN OF READING .00 .0% blelacheur 270,805.00 (NEXT YEAR BUDGET HISTORICAL COMPARISON 6,129,221.00 PROJECTION: 20142 FY14 Enterprise Funds 6.2%- ACCOUNTS FOR: SEWER PRIOR FY3 PRIOR FY2 LAST FY1 CY ACTUALS ACTUALS ACTUALS ACTUALS 62009596 596181 WAGE -PWHWY 2,419.00 2,419.00 2,418.96 1,233.48 62009596 596182 EXP -PWHWY 9,129.00 9,129.00 9,129.00 4,656.00 62009596 596500 XFERTO ENT 23,000.00 .00 .00 .00 TOTAL OTHER FINANCING USES 282,004.00 259,004.00 259,003.92 132,099.06 TOTAL SEWER - OPERATIONS 5,058,213.93 4,876,316.44 5,130,232.77 2,934,847.73 0990 OTHER FINANCING SOURCES /USES 09 OTHER FINANCING USES 62009590 599910 DEBT COSTS 3,000.00 TOTAL OTHER FINANCING USES 3,000.00 TOTAL OTHER FINANCING SOURCE 3,000.00 TOTAL SEWER 5,061,213.93 IPG 4 bgnyrpts FOR PERIOD 99 CY REV PROJECTION PCT BUDGET LEVEL 2 CHANGE 2,467.00 2,529.00 2.5%; 9,312.00 9,545.00 2.5% .00 .00 .0% 264,198.00 270,805.00 2.5% 5,772,546.00 6,129,221.00 6.2% .00 2,500.00 .00 .00 .00 .0%- .00 2,500.00 .00 .00 .00 .0% .00 2,500.00 .00 .00 .00 .0% 4,876,316.44 5,132,732.77 2,934,847.73 5,772,546.00 6,129,221.00 6.2%- Sewer Enterprise Fund Capital + Debt OWNWlo water capital -debt Approved Sewer Ent. Fund Capital & Debt_ FY -2012 Requested Requested Projected =_> L end: Debt Issued and Debtx not et approved) FY -2013 FY -2014 FY -2015 FY -2016 FY -2017 FY -2018 ' FY -2019 FY -2020 FY -2021 330,000 510,000 470,000 570,000 485,000 75,000 147,000 75,000 350,000 115,800 136,934 166,934 164,000 150,000 536,400 485,700 562,000 508,000 FY13 -26 IFY -2022 FY -2023 FY -2024 FY -2025 FY -2026 TOTAL 392,000 j 640,000 550,000 545,000 5,884,000 454,000 - - - 3,279,768 Sewer Capital I 157,000 Sewer Debt 85,800 Total Capital & Debt 242,800 445,800 646,934 636,934 734,000 635,000 611,400 632,700 637,000 858,000 846,000 745,000 640,000 550,000 545,000 9,163,768 Sewer CAPITAL 157,000 330,000 510,000 470,000 570,000 485,000 75,000 147,000 75,000 350,000 392,000 745,000 640,000 550,000 545,000 5 000 Main: auview unnyside Main: Lewis Street Main: Poet's Corner ($350 Debt 200,000 50,000 75,000 75,000 300,000 520.000 270,000 dil _ - -- 75;000 75,000 75,000 100,000 200,000 460,000 1,100,000 300,000 f 520,000 270,000 100,000 Sewer Main Lewis; Charles_; Howard Sewer Main projects 460,000 50,000 100,000 100,000 100,000 125,000 125'000 Station: West SL Station: Batchelder Rd. Station Joseph's Way Station Sturges $690k debt Station Small Lane Station Charles St. $1.2mi debt 2 debbr 100,000 3 debbr debbr debbr Station: Grove St. 280,000 280,000 Portable Generator - Grove 15,000 15,000 Station: Strout Ave. 290,000 290,000 Station: Brewer Lane_ 250,000 250,000 Station: Collins Ave. 410,000 410,000 Portable Generator - Collins 15,000 15,000 Station: Longwood Rd. 270,000 270,000 Station: Pitman Drive 150,000 150,000 Meter Replacements 250,000 250,000 250,000 750,000 4 Backhoe 430D 130,000 100,000 230,000 Replace Vehicles Picku #8 2004 40,000 40,000 Truck #17 2001) 1,8 120,000 120,000 Car #1 2006 #6 2011 Picku #11 2011 30,000 30,Picku 42,000 42,000 42,000 42,000 Sewer DEBT , 115,800 136,934 166,934 164,000 150,000 536,400 485,700 5112M 508,000 454,000 3 ,768 MWRA Inflow & Infiltration 1 85,800 Station:Sturges ($690k) 2 Station: Charles St ($1.2mil) J. Sunn side /Fairview Sewer 4 76,406 115,800 136,934 166,934 164,000 150,000 150 000 120,000 90,000 60,000 30,000 1,183,668 386.406 365.700 752,100 472,0.00 448,000 424,000 _ _ 1,344,000 Repayment of Principal: 160AN 115,00 136 AU 111111 164,000 150,000 495,000 465,000 490,000 460,000 430,000 3073,668 MWRA Inflow & Infiltration MWRA Inflow & Infiltration MWRA Inflow & Infiltration 1a 32,934 32,934 32,934 32,934 98,802 8,866 176,000 1b 8,866 6,666 1c 44 ,000 44,000 44,000 44,000 44,000 MWRA Inflow 81n8Rration 1d 30 ,000 30,000 30,000 30,000 30,000 150,000 MWRA Int1wl Wi ration 1z 30,000 60,000 90,000 120,000 150,000 120,000 90,000 60,000 30,000 750,000 Station :Sturges ($690k) 2 345,000 345,000 690,000 Stallion: Charles St. ($1.2mil) 3 400,000 40Q000 400,000 1,200,000 Sunnyside /Fairview Sewer 4 75,000 Interest on Long Term Debt: 1AN 41AN 20,700 72 4a 206,100 MWRA Inflow & Infiltration no interest Station:StJoe&Sturges (!LmiL 2 41,400 20,700 62,100 Station: Charles St ($1.b 31 72,000 48,000 24,000 1 144,000 Sunn side /Fairview Sewer 41 1406 Storm Water Enterprise Fund The Storm Water Division consists of some activities conducted under the general fund budget, and some in the enterprise fund budget. As a whole, the Division is responsible for the construction, maintenance and repair of all catch basins and storm drainage systems. As established by Town Meeting several years ago, this Enterprise Fund conducts storm water activities that were not being done by the general fund. Federal regulations continue to bring new costs to the Town. The $40 annual charge for a single family home, and the analogous per square foot charge based on impervious surface for commercial customers, produces almost $400,000 in annual revenues. After allowing for the fact that some customers will not pay on time and others that will receive abatements, the Storm Water Reserve fund will contribute $30,000 to allow the $40 charge to remain unchanged. Storm Water Enter rise Fund Two large scale ($4.0 million Saugus River & $2.2 million Aberjona River) capital projects that have been in the Storm Water capital improvements plan since inception have been pushed out to FY20. The design and permitting capital costs for these projects are in FY17 and FY18. This delay allows ample opportunity for a community dialogue about these projects, and how to fund them. This budget does not yet forecast that new federal requirements will add any additional large scale projects. The funding of Other Post - Employment Benefits is continued with this budget. FY13 FY14 Change Wages $134,232 $138,903 +3.5% Expenses $ 64,080 $ 64,693 +1.0% Debt & Capital $190,000 $190,000 0.0% TOTAL $388,312 $393,596 +1.4% Two large scale ($4.0 million Saugus River & $2.2 million Aberjona River) capital projects that have been in the Storm Water capital improvements plan since inception have been pushed out to FY20. The design and permitting capital costs for these projects are in FY17 and FY18. This delay allows ample opportunity for a community dialogue about these projects, and how to fund them. This budget does not yet forecast that new federal requirements will add any additional large scale projects. The funding of Other Post - Employment Benefits is continued with this budget. 4. 01/16/2013 12:19 OF READING 10 blelacheur (TOWN NEXT YEAR BUDGET HISTORICAL COMPARISON IPG bgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: STORM WATER MANAGEMENT PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 0428 STORM WATER MANAGEMENT 03 SALARIES 65003511 511413 SKILLED LA .00 .00 .00 20,356.71 .00 39,797.00 .0% 65003511 511417 LABORER 68,695.19 66,881.47 70,163.84 20,063.36 74,050.00 36,463.00 -50.8% 65003511 511453 AST CV ENG .00 .00 51,947.61 29,525.20 53,182.00 54,643.00 2.7% 65003511 515000 OVERTIME 2,491.57 1,686.46 4,153.12 2,680.43 4,000.00 4,500.00 12.5% 65003511 516050 OUT OF GRA 699.52 2,066.96 2,818.78 2,187.47 3,000.00 3,500.00 16.7% TOTAL SALARIES 71,886.28 70,634.89 129,083.35 74,813.17 134,232.00 138,903.00 3.5% 05 EXPENSES 65005519 519000 MEDICARE .00 1,140.42 1,854.12 .00 1,200.00 1,500.00 25.0% 65005519 519700 RETIREMENT 2,412.00 847.00 885.00 2,210.00 2,210.00 2,310.00 4.5% 65005519 519750 OPEB CONTR .00 .00 .00 .00 5,570.00 5,783.00 3.8% 65005524 524428 DRAINMAINT .00 .00 7,133.82 950.45 25,000.00 25,000.00 .0% 65005527 527301 EQUIP RENT .00 .00 .00 .00 7,000.00 6,000.00 -14.3% 65005530 530000 OUT PRFSVC .00 1,863.00 3,461.96 200.00 10,000.00 10,000.00 .0% 65005554 554000 CLOTHING 800.00 800.00 500.00 700.00 1,100.00 1,100.00 .0% 65005574 574000 HEALTH INS .00 .00 10,275.24 5,993.89 12,000.00 13,000.00 8.3% TOTAL EXPENSES 3,212.00 4,650.42 24,110.14 10,054.34 64,080.00 64,693.00 1.0% 08 CAPITAL EXPENDITURES 65008584 584413 EXCAVATOR .00 .00 .00 54,479.23 65,000.00 .00 - 100.0% 65008584 584420 ST SWEEPER .00 139,184.00 .00 .00 .00 .00 .0% 65008585 585000 ADDTNL EQU 126,488.36 151,023.00 .00 .00 .00 .00 .0% 65008588 588412 DRNGE IMPR .00 .00 69,422.45 130.00 75,000.00 165,000.00 120.0% ** END OF REPORT - Generated by Bob LeLacheur ** t 2i. 01/16/2013 12:19 TOWN OF READING PG 11 blelacheur NEXT YEAR BUDGET HISTORICAL COMPARISON bgnyrpts PROJECTION: 20142 FY14 Enterprise Funds FOR PERIOD 99 ACCOUNTS FOR: STORM WATER MANAGEMENT PRIOR FY3 PRIOR FY2 LAST FY1 CY CY REV PROJECTION PCT ACTUALS ACTUALS ACTUALS ACTUALS BUDGET LEVEL 2 CHANGE 65008588 588421 MAPPING DE .00 .00 .00 217.28 50,000.00 25,000.00 -50.0% 65008588 588425 DRAINAGE 15,351.73 4,763.16 255.36 137.50 .00 .00 .0% TOTAL CAPITAL EXPENDITURES 141,840.09 294,970.16 69,677.81 54,964.01 190,000.00 190,000.00 .0% TOTAL STORM WATER MANAGEMENT 216,938.37 370,255.47 222,871.30 139,831.52 388,312.00 393,596.00 1.4%- TOTAL STORM WATER MANAGEMENT 216,938.37 370,255.47 222,871.30 139,831.52 388,312.00 393,596.00 1.4$ GRAND TOTAL 10,555,024.13 10,412,022.06 10,838,317.19 5,747,950.55 11,613,728.00 12,171,915.00 4.8% ** END OF REPORT - Generated by Bob LeLacheur ** Storm Water Enterprise Fund Capital + Debt Approved Requoked Projected =_> FY -2020 FY -2021 FY -2022 Storm Water Ent. Fund Capital &Debt FY -2012 FY -2013 FY -2014 FY -2015 FY -2016 FY -2017 FY -2018 FY -2019 Storm Water Capital 190,000 Storm Water Debt 190,000 190,00.0 190,000 200,000 200,000 - 200,000 200,000 175,000 175,000 150,000 - 1,023,000 982700 942,400 Total Capital & Debt 190,000 190,000 190,000 190,000 200,000 200,000 0,000 200,000 1,198,000 1,157,700 1,092,400 1 Storm Water CAPITAL 190,000 190,000 190,000 190,000 200,000 200,000 200,000 200,000 175,000 175,000 150,000 General Drainage moved to Operating Budget in FY12 Drainage Improvements (projects) 150,000 75,000 165,000 165,000 50,000 25,000 50,000 200,000 175,000 150,00.0 MS4 Permit: Consult & Lab test 40,000 50,000 25,000 25,000 25,000 25,000 - Saugus River Design & Permitting 150,000 Saugus River Improvement (1) $2mil 1 Debtx Debtx Debtx Debtx Debtx Debtx Saugus River Improvement (II) $2mil 2 Abedona River Design & Permitting 150,000 Abedona River Improvement $2.2mil 3 Debtx Debtx Debtx Sweeper: Elgin Pelican 175,000 125,000 Truck: Int #15 Excavator (1985) Dump Truck new 65,000 Storm Water DEBT - - 1,023,000 982,700 942,400 Saugus Riverlmrpovement(I) 1 330,000 1 317,000 304,000 Saugus River lmrpovement(ll) 2 330,000 317,000 304,000 Abedona Riverlmprovement 3 363,000 348,700 334,400 Repayment of Principal: 620,000 620,000 620,000 Saugus Riverlmrpovement(1) 1 200,000 200,000 200,000 Saugus River Imrpovement(II) 21 200,000 200,000 200,000 Abedona River Improvement 31 220,000 220,000 220,000 Interest on Long Term Debt: 403,000 362,700 322,400 Saugus Riverlmrpovement(l) 1 130,000 117,000 104,000 Saugus River Imrpovement(11) 2 130,000 117,000 104,000 Abedona River Improvement 3 143,000 128,700 114,400 Storm Water Enterprise Fund Capital + Debt FY13.27 Storm Water Ent. Fund Capital & Debt FY -2023 FY -2024 FY -2025 FY -2026 FY -2027 FY -2028 FY -2029 TOTAL Storm Water Capital Storm Water Debt 150,000 150,000 1 150,900L 150,000 150,000 150,000 902,100 861,800 821,500 781,200 740,900 - 150,000 2,920,000 - 7,055,600 Total Capital & Debt ' 1,052,100 1,011,800 971,500 931,200 890,900 150,00 150,000 9,975,600 Storm Water CAPITAL 150,000 150,000 150,000 150,000 150,000 150,000 150,000 2,920,000 General Drainage Drainage Improvements (projects) 150,000 150,000 150,000 150,000 150,000 MS4 Permit: Consult & Lab test 150,000 150,000 2,105,000 150,000 Saugus River Design & Permitting 150,000 Saugus River Improvement I $2mil 1 Debtx Mix Debtx Debtx Debtx DO& Debtx Saugus River Improvement (II) $2mil 2 DO& DO& Debtx Debtx Debtx Debtx Debtx - Abedona Rver Design & Permitting 150,000 Abegona River Improvement $2.2mil 3 Debtx Debtx Debtx Debtx Debtx DO& Debtx - Sweeper: Elgin Pelican 175,000 Truck: Int #15 I - Excavator (1985) 65,000 Dump Truck (new) 125,000 Storm Water DEBT 902,100 861,800 821,500 781,200 740,900 7,055,600 226,000 213,000 2,715,000 213,000 2,715,000 234,300 2,986,500 Saugus Riverlmrpovement(l) 1 291,000 278,000 265,000 265,000 252,000 239,000 252,000 239,000 Saugus River lmrpovement(11) 2 291,000 278,000 226,000 Abedona River Improvement 31- 320,100 305,800 291,500 277,200 262,900 248,600 Repayment of Principal: Saugus Riverlm►povement(1) 1 2 620,000 620,000 200,000 200,000 200,000 200,000 620,000 620,000 620,000 200,000 200,000 200,000 200,000 620,000 620,000 6,200,000 200,000 200,0001 200,000 2,000,000 Saugus Riverlmrpovement(IQ 200,000 200,000 200,000 2,000,000 Aberjona River Improvement 3 220,000 220,000 220,000 220,000 220,000 220,000 80,600 26,000 220,000 40,300 13,000 2,200,000 2,216,500 715,000 Interest on Long Term Debt: 282,100 241,800 201,500 161,200 120,900 Saugus River Imrpovement(1) 1 91,000 78,000 65,000 52,000 39,000 Saugus River lmrpovement(11) 2 1 31 91,000 100,100 78,000 1 85,800 65,000 1 71,500 1 52,000 39,000 57,200 42,900 26,000 13,000 715,000 Aberjona River Improvement 1 28,600 1 14,300 786,500 Enterprise Fund Reserves & Rates In case of financial emergencies, we set aside at least 10% of annual expenditures (Water & Sewer) or $150,000 (Storm Water) to be held in Reserve Funds. Current reserves are well in excess of these levels. Old capital projects that had remaining balances have been closed out to reserves, and in one case a $75,000 FY13 sewer project for Lewis Street was not done, so the project was pushed into FY14 and the unused funds were added to Sewer reserves. Here is a summary of current reserve balances: Reserves Jan. 2013 Target Level % over Target St. Water $560k $150k +273% Water $1,178k $545k +116% Sewer $1,333k $577k +131% Combined $3.07 mil $1.27 mil +142% Recent Reserves History Excess reserves offer the flexibility to take advantage of mid- year opportunities, such as the decision by November 2011 Town Meeting to use $250,000 to advance the Howard Street water main project forward in order to qualify for an interest - free loan. This saved over $100,000 in future interest costs. As the next chart shows, water reserves hit a recent low in 2008 -2009 coincident with some one -time costs associated with closing the water treatment plant and shifting the water supply to the MWRA. In 2010 some legal environmental settlements were deposited in the water reserve fund and in 2011 -12 some surpluses from past capital projects were closed out and added to the sewer reserve fund, resulting in fund balances that are now well over the 10% target levels. Therefore excess reserves are available to offset some rate increases in the future. Water and Sewer Reserves 2,250.0 2,000.0 1,750.0 1,500.0 1,250.0 1,000.0 ~ 750.0 2003 2004 2005 2008 2007 2008 2009 2010 2011 2012 2013 twm- Resmes f SO~ Rsa—. Reserves Policy According to the MWRA, their FYI budget will be the last of a three -year commitment to keep their rate increases low during difficult economic times. They cut spending, restructured debt, and temporarily suspended commitments to growing liabilities over this period. The MWRA's most recent forecasts project system wide costs to increase by 4.6% in FY14; 8.3% in FY15; 6.1% in FY 16 and 8.8% in FY 17. The MWRA is still efficiently cost - cutting and currently reviewing these forecasts. The use of excess reserves combined with capital planning can partner to dampen the volatility that these MWRA charges may bring to the Reading customer. Regeneration of Water and Sewer reserves has slowed in recent years, except for one -time events such as legal awards. If reserves are used to smooth out expected combined water and sewer rates at +5.5% annually for the next four years, remaining excess reserves assuming no regeneration will be minimal: Rates The Storm Water Fund rate for all residential parcels is set at a flat $40 annual fee. Commercial rates are then determined by their amount of impervious surface when compared to the average residential property. Water and sewer rates are set by a combination of budgets, use of reserves and the volume of usage of water /sewer. Note that 34% of the water budget and 76% of the sewer budget are MWRA charges. This means that 66% of water and 24% of sewer are fixed charges (such as debt service). Conservation efforts in water usage reduce the charges paid to the MWRA for water and sewer, but rates may actually need to increase to pay those fixed costs. After an adjustment in rates to allow for strong water conservation, FY13 billing thru December indicates no adjustments will be needed in FY14 for changes in usage. As the following chart shows, annual increases in combined rates have been below 5% annually from 2010 -2012 but spiked last year. As a reminder, 8.5% of the combined 2013 increase was caused by adjustments to the amount of water used by Reading customers. For FY14, the forecast is that rates should change in step with their respective budgets. Change in Annual Combined Water & Sewer Rates 18.0% Water Reserves Used Water Net Budget Sewer Reserves Used Sewer Net Budget Combined Net Budgets FY12 $550k none 4.096 FY13 $150k $150k 2003 2004 2005 2008 2007 2008 2009 2010 2011 2012 2013 FY14 $100k +4.6% $150k +6.3% +5.5% FY15 $150k +4.3% $150k +6.5% +5.5% FY16 $75k +4.2% $150k +6.6% +5.4% FY17 $75k +4.6% $100k +6.4% +5.5% Excess $167k $89k Rates The Storm Water Fund rate for all residential parcels is set at a flat $40 annual fee. Commercial rates are then determined by their amount of impervious surface when compared to the average residential property. Water and sewer rates are set by a combination of budgets, use of reserves and the volume of usage of water /sewer. Note that 34% of the water budget and 76% of the sewer budget are MWRA charges. This means that 66% of water and 24% of sewer are fixed charges (such as debt service). Conservation efforts in water usage reduce the charges paid to the MWRA for water and sewer, but rates may actually need to increase to pay those fixed costs. After an adjustment in rates to allow for strong water conservation, FY13 billing thru December indicates no adjustments will be needed in FY14 for changes in usage. As the following chart shows, annual increases in combined rates have been below 5% annually from 2010 -2012 but spiked last year. As a reminder, 8.5% of the combined 2013 increase was caused by adjustments to the amount of water used by Reading customers. For FY14, the forecast is that rates should change in step with their respective budgets. Change in Annual Combined Water & Sewer Rates 18.0% 14.0% - - 12.0% 10.0% 8.0% 8.096 4.096 2.0% 0.0% 2003 2004 2005 2008 2007 2008 2009 2010 2011 2012 2013 11,321,675 5.03% 11,946,445 1.30% 8.50% 11.40% 9.35% 12,598,601 918% 13,283,11/ 9.2b% 14,U19,264 9.3b%o 5.46% / t- 5.44% 127,765 58,885 190,000 Enterprise Fund Budgets 134,232 64,080 190,000 5.06% 8.82% 0.00% Assumptions for FY14 -FY17 Wages MWRA actual 600 2.50% 2.50% 0.00% 2.50 ° / - 3Q NET COMBINED RATES 2 1% <6.10"10' - 0.31% 2.5 °° 8.80°/ storm water 393,596 1.36% Y1 Salaries and Wages 70,076 0.00% Y2 Expenses actual - 7.34% 2.50% Capital Outlay 2.50% 44.00% 2.50% Debt Service January 16, 2013 Approved Percent Approved Percent Approved Percent Requested Percent Estimated Percent Estimated Percent Estimated Percent No. FY - 2011 Change FY - 2012 Change FY - 2013 Change FY - 2014 Change FY - 2015 Change FY - 2016 Change FY - 2017 Change water W1 Salaries and Wages 632,349 0.00% 639,490 1.13% 656,788 2.70% 673,759 2.58% 690,603 2.50% 707,868 2.50% 725,565 2.50% W2a Expenses 2,698,736 - 1.31% 955,044 1,013,206 6.09% 1,011,525 - 0.17% 1,036,813 2.50% 1,062,733 2.50% 1,089,302 2.50% W21b MWRA Assessment 1,759,085 1,813,825 3.11% 1,894,528 4.45% 2,051,774 8.30% 2,176,932 6.10% 2,368,502 8.80% W3 Capital Outlay 263,000 - 22.65% 783,500 197.91% 643,000 - 17.93% 50,000 - 92.22% 180,000 260.00% 320,000 77.78% 400,000 25.00% W4 Debt Service 1,839,206 - 2.70% 1,785,591 - 2.92% 1,326,051 - 25.74% 2,019,286 52.28% 1,979,721 - 1.96% 1,836,975 - 7.21% 1,797,229 - 2.16% W5 Water Fund 5,433,291 - 2.93% 5,922,710 9.01% 5,452,870 - 7.93% 5,649,098 3.60% 5,938,911 5.13% 6,104,508 2.79% 6,380,597 4.52% Reserves (225,000) (550,000) No01 -250k (150,000) (100,000) (150,000) (75,000) (75,000) Net Water Fund 5,208,291 0.70% 5,372,710 3.16% 5,302,870 - 1.30% 5,549,098 4.64% 5,788,911 4.32%1 6,029,508 4.16%1 6,305,597 4.58% offsets for en'I fund 377,367 377,367 384,916 2.00% 394,543 404,407 414,517 424,880 W99 Water Fund voted 5,055,924 5,545,343 5,067,954 -8.61% 5,254,555 5,534,504 5,689,992 5,955,717 hewer X1 Salaries and Wages 308,147 7.64% 267,908 - 13.06% 275,144 2.70% 283,935 3.20% 291,033 2.50% 298,309 2.50% 305,767 2.50% X2a Expenses 4,444,463 1.13% 655,304 668,124 1.96% 673,166 0.75% 689,995 2.50% 707,245 2.50% 724,926 2.50% X21b MWRA Assessment 4,164,476 4,383,478 5.26% 4,525,186 3.23% 4,900,777 8.30% 5,199,724 6.10% 5,657,300 8.80% X3 Capital Outlay 556,001 23.56% 157,000 - 71.76% 330,000 110.19% 510,000 54.55% 470,000 - 7.84% 570,000 21.28% 485,000 - 14.91% X4 Debt Service 165,113 32.93% 162,206 - 1.76% 115,800 - 28.61% 136,934 18.25% 166,934 21.91% 164,000 - 1.76% 150,000 - 8.54% X6 Sewer Fund 5,473,724 4.16% 5,406,894 - 1.22% 5,772,546 6.76% 6,129,221 6.18% 6,518,739 6.36% 6,939,278 6.45% 7,322,993 5.53% Reserves 161,001 150,000 150.000 150,000 150,000 1100,000 Net Sewer Fund 5,312,723 3.05% 5,406,894 1.77% 5,622,546 3.99% 5,979,221 6.34% 6,368,739 6.51%r 6,789,278 6.60% 7,222,993 6.39% offsets for en'lfund 259,004 259,004 264,198 2.01% 270,805 277,575 284,515 (291,627) X99 SewerFundvoted 5,214,720 5,147,890 5,508,348 7.00% 5,858,416 6,241,164 6,654,764 7,031,366 —� W &S gross 10,907,015 11,329,604 11,225,416 11,778,319 12,457,650 13,043,787 13,703,590 W &S reserves 386,001 550,000 300,000 250,000 300,000 225,000 175,000 WS IMS combined net 10,521,014 1.88% 10,779,604 2.46% 10,925,416 1.35% 11,528,319 5.52%1 12,157,650 5.46%1 12,818,787 5.44% 13,528,590 5.54% 11,321,675 5.03% 11,946,445 1.30% 8.50% 11.40% 9.35% 12,598,601 918% 13,283,11/ 9.2b% 14,U19,264 9.3b%o 5.46% / t- 5.44% 127,765 58,885 190,000 Other Assumptions 134,232 64,080 190,000 5.06% 8.82% 0.00% 138,903 64,693 190,000 Usage 142,376 66,310 190,000 2.50% 2.50% 0.00% 145,935 67,968 200,000 NET COMBINED RATES 376,650 - 0.31% 388,312 storm water 393,596 1.36% Y1 Salaries and Wages 70,076 0.00% Y2 Expenses 19,750 - 7.34% Y3 Capital Outlay 288,000 44.00% Y4 Debt Service 376.650 8.29% Y5 Storm Water Fund 377,826 29.66% 363.686 Reserves 30,000) 0.06% Net Storm Water 347,826 19.37% estimated revenues @$40 is $390k 11,321,675 5.03% 11,946,445 1.30% 8.50% 11.40% 9.35% 12,598,601 918% 13,283,11/ 9.2b% 14,U19,264 9.3b%o 5.46% / t- 5.44% 127,765 58,885 190,000 82.32% 198.15% - 34.03% 134,232 64,080 190,000 5.06% 8.82% 0.00% 138,903 64,693 190,000 3.48% 0.96% 0.00% 142,376 66,310 190,000 2.50% 2.50% 0.00% 145,935 67,968 200,000 2.50% 2.50% 5.26% 376,650 - 0.31% 388,312 3.10% 393,596 1.36% 398,686 1.29% 413,903 3.0% 25,000 (30,000) (35,000) 50,000 376.650 8.29% 363.312 -3.54%1 363.596 0.08%- 363.686 0.M0 363.903 0.06% 149,583 2.50% 69,667 2.50% 200,000 0.00% 419,251 1.29% (55, 000) 364,251 0.10% Q.!40 17.36% 5yr 33.59% 5yr Reserve Fund levels Target E s Storm Water 275,590 376,011 560,676 530,676 495,676 445,676 390,676 $150,000 16b /0 Water 1,485,064 986,630 Nov11 -250k 1,177,778 1,077,778 927,778 852,778 777,778 $ 610,451 27 °/ Sewer 792,756 987,837 1,333,386 1,183,386 1,033,386 883,386 783,386 $ 693,928 1 /0 hINVA BK