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BAWA Resolution No. 2011-13 RESOLUTION NO. 2011-13 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN AREA WATER AUTHORITY ADOPTING A BUDGET FOR THEENSUING FISCAL YEAR, BEGINNING OCTOBER 1, 2011, AND ENDING SEPTEMBER 30. 2012: MAKING OTHER PROVISIONS RELATED THERETO: AND PROVIDING.FOR THE' 1 FFEGITVE DATE THEREOF, WHEREAS, the General Manager of the Baytrnvn Area Water Authority ("BAWA").has submitted to BAWA's Board of Directors a budget estimate of the revenues of BAWA and the expense of conducting the affairs thereof for the ensuing fiscal year, beginning October 1, 2011,. and ending September 30,2012: and. WHEREAS, the Board of Directors of BAWA (the "Board") received the General Manager's estimate and held a public hearing thereon: and WHEREAS, after full and final consideration of the information contained in the proposed budget and the input received at the public hearing,it is the opinion of the Board that the budget attached hereto should be approved and adopted: NOW THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN AREA WATER AUTHORITY: Section l: '['list the Board of Directors of the Baytown Area Water Authority hereby adopts the budget,which is attached hereto as Exhibit"A" and incorporated herein for all intents and purposes for BAWA'' 2011-12 fiscal year. Section 2: '['his resolution shall take effect immediately from and after its passage by the Board of Directors of the Baytown Area Water Authority, INTRODUCED, READ and PASSED, by the affirmative vote of the Board of Directors of the Baytown Area Water Authority this the 17"' day of August, 2011. titt7PfP^+,,rr � e 431213NDAt13RADI.,IiY S ITI-I,President A r t 7., LG"lC1A 13RYSCII, Assis t Secretary APPROVED AS TO FORM: 4C10 RAM[ , SR Cicne al 7ounsel a k ,.' ilo'B 1e wt�g AW......2M FAIa1MAdl,,001 I A2 EDQUff A Baytown Area Water Authority ANNUAL PROGRAM OF SERVICES 1 -1 PROPOSED BUDGET July 20, 2011 Baytown Area Water Authority a Robert D. Leiper General Manager Darryl Fourte Plant Manager Louise Richman Director of Finance WATERBAYTOWN AREA AUTHORITY ( A A) ORGANIZATION CHART Board of Directors General Manager Plant Mauagorl Direeter of Fublic Worksr ❑tilities Superintendent Water Treatment Bsytowrt Area Water Authurfry yr y 1, 3 BAYTOWN AREA WATER AUTHORITY BOARD OF DIRECTORS RENA BRADLEY SMITH, President DAN M. MUNDINGER, Vice President AYE BALDWIN, Secretary LETICIA BYSH, Assistant Secretary _IKEWILSON, Director JOHN R. SANDHOP, Director 4 BAYTOWN AREA WATER A[JT O WTY 7425 Thompson Road,Raytown,Texas 77521-1056 (281)426-3517 FAX(281)426-3519 �l July 20,2011 President and Directors of the Baytowm Area Water Authority Board Baytown Area Water Authority Baytown,Texas It is my pleasure to present the 2011-12 Proposed Budget for the Baytown Area Water Authority (BAWA). The Budget.sets forth the revenues:and appropriations for the fiscal year October I, 2011 through.September 30, 2012. The financial guidance provided by the Board has resulted in BAWA's ability to maintain a system that consistently provides a dependable and high quality water supply to the City of Baytown and surrounding communities. BAWA has started the construction of a new generator project which will provide electrical power to the entire facility in the event of loss of normal power from the electrical supplier. This project is being funded by non-housing CDBG grant money as a result of Hurricane Ike. The contract for this project is.$2,938,000 and is projected for completion on February 29, 2011 BAWA is in the process of getting final approval to begin construction on the Electrical System Improvements to remove the overhead electrical lines and have them replaced with electrical lines in duct banks underground. The project will provide enhanced reliability and safety for the. facility. This project; while separate from the Generator project, will provide the construction of an electrical building that will.provide housing for the generator electrical switch gear systems and the power transfer switches. In January of 2006, the EPA approved the Long Temn 2 Enhanced Surface Water Treatment (I.T2) Rule. With respect to the LT2 rile, systems that serve a population of less than.100,000 will begin the second round of sampling. monitoring and reporting in January 2015. BAWA has managed tough times by planning ahead and being proactive. In May 2009, Burton & Associates was retained to perform a rate study to evaluate the adequacy of the revenue provided by its current rates to meet its financial requirements over a five-,year planning period and ten-year projection period. The Rate Study was completed and Final Report submitted May 13, 2010.. Utilizing the recommendations from the Rate Study will allow BAWA to successfully manage increases in major operating cost components such as: water supply costs from the City of Houston, electricity, chemicals, and medical insurance expenses; as well as the funding of a $20 million five-year capital improvement program. The City of Houston notified .BAWA of a 19% rate increase effective April 1, 2011, for untreated water purchased from the City of Houston. The rates increased from $0.5647 to $0.5754 per 1,000 gallons. The City of Houston's Code of Ordinances provides that water and sewer rates be adjusted automatically each year in April to reflect the previous year's percentage change to the Houston- s Galveston Area Producers Price Index(PPI). Future annual rate adjustments will also be relative to the PPI and population growth. Burton & Associates has calculated the effect of this increase, along with future capital and bond reserve needs, and the BAWA Board will consider a rate increase of$0.19 per 1,000 gallons (9.5%) for BAWA's customers. The proposed budget includes this rate increase to adjust for the untreated water rate increases,debt associated with the capital program and to provide a reserve for future capital needs. Rates will be adjusted in future budgets to reflect funding needs based on the rate study and actual operational needs including debt service requirements. The capital improvements and efficient 24/7 operations at BAWA are designed to provide the foundation for growth in sales and continued reliable service of the highest quality water for our customers. I look forward to reviewing this document with you. Sin r ly, Robert D. Leiper General Manager 6 MAJOR BUDGET ISSUES Fiscal Year 2011-12 BAYTOWN AREA WATER AUTHORITY This fund accounts for the operations of the Baytown Area Water Authority (BAWA). BAWA is a water authority created by the Texas Legislature to supply water for the City of Baytown (City) and surrounding communities. BAWA services a total of eight customers with the City as the largest customer, generating approximately 89% of BAWA's annual sales. BAWA is a separate legal entity; however,it is considered a component unit of the City. Since it began operating, BAWA has not experienced shortages of raw water supply to the plant or interruptions of service to its customers. REVENUES The 2011-12 proposed budget estimates sales of$9,626,985 for an average of 12.25 million gallons per day(MGD). Fluctuations in rainfall amounts can significantly impact actual sales. A 9.5%rate increase as per the Utility Rate Study, effective October 1, 2011, is included in the 2011-12 proposed budget. The existing rate structure of$1.96 per 1,000 gallons for the City of Baytown and $1.99 per 1,000 gallons for customers outside the city will increase to $2.15 and $2.18 respectively. This would cover the increased cost of operations, including debt service,the purchase of raw water, and provide a reserve for future capital projects. This increase in rates is expected to generate $1,028,388 in additional revenue. EXPENDITURES Total operating expenditures for the proposed 2011-12 budget are $5,318,996 which is an increase of $121,573 from the 2010-11 budget. The budget also includes a transfer of $250,000 to the General Fund for an indirect cost allocation to reimburse the City for administrative services such as Human Resources, Fiscal Operations, Legal and Information Technology Services. Highlights of major operating changes are as follows: • Increase in personnel services $ 109,213 • Increase in supplies (Primarily raw water rate increase) 48,275 • Decrease in maintenance (43,615) • Increase in services 7,700 • Decrease in capital outlay (35,001) Raw Water Supply Cost—BAWA purchases raw water from the City of Houston. The raw water supply contract with the City of Houston is in effect through the year 2040, and sets the maximum amount of raw water to be delivered to the BAWA plant at 15.8 MGD without penalties. The surcharge for water purchased over the 15.8 MGD is nominal at this time. BAWA received notice of a rate increase(1.9%) from $0.5647 to$0.5754 effective April 1,201 L Debt Service—The transfer to cover the debt service requirement for existing debt for the proposed 2011-12 budget is$2,166,126. 7 MAJOR BUDGET ISSUES Fiscal Year 2008-09 CAPITAL IMPROVEMENT PROGRAM The Capital Improvement Program for BAWA is funded through the issuance of revenue bonds, grants,and revenue from operations. • BAWA received the completed plant assessment to determine needs for improvement, repair, and replacement of equipment at the plant. Targeted areas for replacement/repair/improvement are the plant electrical system, the Supervisory Control and Data Acquisition (SCADA) system, filter systems, sedimentation basins, chemical feed systems and tanks, pumps and motors throughout the plant. Most of the equipment in service has been in use since the start up of the plant in 1981. • The BAWA board has approved the contract to install generators for the BAWA plant through the non-CDBG Housing grants as a result of Hurricane Ike. This contract will provide three new 1500 Kilowatt generators that will provide alternate electrical power to the entire BAWA facility. This will allow the facility to operate without normal power once completed. The amount of this contract is $2,938,000 and the projected completion date is February 29,2012. WORKING CAPITAL In order to maintain fiscal stability, governmental entities maintain a working capital balance to meet daily liquidity needs. Appropriate levels of working capital vary from entity to entity based on the relative impact of particular circumstances or financial conditions. Working capital is defined as current assets (e.g., cash, investments and accounts receivable) less current liabilities (e.g., accounts payable). The Utility Rate Study/Revenue Sufficiency Analysis completed May 13, 2010 by Burton & Associates recommends BAWA maintain a Working Capital Reserve balance equal to 2.5 months of total expenses. The proposed budget has 75 working capital days. In the 2011-12 Budget, BAWA has reached its targeted Working Capital Reserve; a Contingency fund of$75,000; plus be able to transfer out $1,445,000 to BAWA's Capital Improvement Project Fund (CIPF). The $1,445,000 will be available for funding future capital projects, and to help downsize future borrowing requirements. s CITY OF BAYTOWN PROGRAM SUMMARY 3070 BAYTOWN AREA WATER AUTHORITY BAWA Program Description Operate and maintain a 26 MGD surface water treatment Major Goals facility with a projected raw water flow of 12.25 MGD . Maintain water quality necessary to be classified as and projected finished water flow of 12.25 MGD in fiscal "Meeting Optimum Corrosion Control"by TCEQ. year 2011-2012 which currently serves 8 customers with . Maintain"Superior Public Water System"status. the City of Baytown using 89% of production. Ensure . Maintain Optimization Standards as classified by compliance with the Texas Commission on Environmental TCEQ's Texas Optimization Program. Quality (TCEQ) Rules and Regulations for Public Water . Develop and maintain a staff of highly trained water Supplies adopted in 1974 under the Safe Drinking Water professionals to better serve customers. Act and amended over the years to include the National Primary Drinking Water Regulations, and Surface Water Major Objectives Treatment Rule and various other regulatory rules. . Produce 12.25 MGD of finished water. Provide BAWA's customers with high quality, safe . Maintain finished water turbidity consistently less drinking water and consistent water pressure for fire than 0.1 NTU. protection. . Maintain compliance with all TCEQ and EPA regulations Actual Budget Estimated Projected Workload Measures 2009-10 2010-11 2010-11 2011-12 1. Primary Customers 8 8 8 8 2. Average MGD of raw water treated 12.85 12.00 12.90 12.25 3. Average MGD of finished water produced 12.29 12.00 12.78 12.25 Performance Measures I. Days without interruption of service 365 365 365 365 2. Days finished water turbidity<0.1 NTU 365 365 365 365 3. Maintain Running Annual Average Distribution Chloramine Residual<4.0 mg/L 365 365 365 365 9 BAYTOWN AREA WATER AUTHORITY FUND 510 BUDGET SUMMARY BY FUND Actual Budget Estimated Proposed 2009-10 2010-11 2010-11 2011-12 Revenues Sale of Water-Baytown $ 6,516,979 $ 7,683,396 $ 7,821,209 $ 8,624,403 Sale of Water-Other 819,710 915.201 988,991 1,002,582 Interest Revenue 1,857 1,630 1,858 2,090 Miscellaneous 2,012 -From BAWA CIPF 11,390 - - Transfer From Water&Sewer Fund 68,000 58.100 58,100 62,138 Total Revenues 7,419,948 8,658,327 8,870,158 9,691,213 Expenditures Personnel Services 789,820 905,220 946,161 1,014,433 Supplies 2,862,254 3,215,465 2,981,730 3,263,740 Maintenance 230,344 226,765 176,500 183,150 Services 896,798 849,973 837,357 857,673 Total Operating 4.779,216 5,197,423 4,941,748 5,318,996 Capital Outlay 20,732 106,748 106,747 71,747 Transfers Out-Debt Service 1,996,706 2,163,281 2,163.281 2,166,126 Transfers Out-General Fund 50,000 50,000 50,000 250,000 Transfers Out-Capital Improvement - 1,110,000 1,110,000 1,445,000 Contingency - 75,000 75,000 75,000 Total Expenditures 6,846.654 8,702,452 8,446,776 9,326,869 Excess(Deficit)Revenues Over Expenditures 573,294 (44,125) 423,382 364,344 Working Capital-Beginning 1,012,410 1,120.186 1,120,186 1,543.568 Adj.to convert budget basis to GAAP (465,518) - - Working Capital-Ending $ 1,120.186 $ 1,076,061 $ 1,543,568 $ 1,907,912 No.of Working Capital Days 60 45 67 75 10 BAWA-CAPITAL IMPROVEMENT PROGRAM FUND 518 BUDGET SUMMARY BY FUND Carried- Carried- Actual forward Adopted Adjustments Budget Estimated forward Allocation Budget 2009-10 2009-10 2010-11 2010-11 2010-11 2010-11 2010-11 2011-12 2010-12 Revenues Transfer In from Operating Fund S - $ - S 1,000.000 S 110,000 $ 1,110.000 $ 1,110,000 - $ 1.445,000 $ 1,445,000 Interest Revenue 2,526 - 2,400 2,400 1,620 - 1,600 1,600 FEMA Reimbursements - - - - - - - - Total Revenues 2,526 - 1,002,400 110,000 1.112.400 1,111,620 - 1,446,600 1,446,600 Expenditures BAWA Second Supply Line 33,400 - - - - - - - - Thompson Rd Utility Relocation 121,806 46,392 - - - - 46.382 - 46,392 BAWA Plant Improvements 306,759 312,035 - - - 261,712 50,323 - 50,323 Capital Assets 11,390 - - - - - - - - BAWA Miscellaneous Improvements - - - 150,000 150,000 127,021 22,979 - 22,979 Power Distribution System - - - 430,000 430,000 191,470 238,530 - 238,530 Relocate Line for Wallisville Expansion - - - 110,000 110,000 - 110,000 - 110.000 Capital Projects per Utility Rate Study - - - - - - - 445,000 445.000 New Capital Project Initiatives - 559,282 1,002.400 (580,000) 422,400 - 980,902 1,001,600 1,982,502 Total Expenditures 473.355 917,699 1,002,400 110,000 1,112.400 580,203 1.449.116 1.446,600 2,895,716 Excess(Deficit)Revenues Over Expenditures (470,829) (917.699) - - - 531,417 (1,449,116) - (1,449,t 16) Working Capital-Beginning 1,388,528 917.699 - - - 917,699 1,449,116 - S 1,449,116 Working Capital-Ending $ 917,699 S - $ - S - $ - $ 1,449.116 S - S - $ - CITY OF BAYTOWN SERVICE LEVEL BUDGET 3070 BAYTOWN AREA WATER AUTHORITY Actual Budget Estimated Proposed 1AcctN Acct Description 2009-10 2010-11 2010-11 2011-12 7100 Personnel Services 71031 Contract Personnel Services $ 789,820 S 905.220 S 946,161 $1,014,433 Total Personnel Services 789.820 905,220 946,161 1,014,433 7200 Supplies 72001 Office 3,831 3,600 2,100 3,600 72002 Postage 444 460 345 460 72007 Wearing Apparel 7,083 5,850 5,400 5,850 72016 Motor Vehicle 13,480 12,800 12,500 12,800 72021 Minor Tools 2,468 1,540 1,525 1,540 72026 Cleaning&Janitorial 1,685 2,000 1,920 2,000 72031 Chemical 516,610 644,700 425,000 525,000 72032 Medical 732 1,000 725 1,000 72041 Educational 221 8,500 5,950 6,000 72051 Untreated Water 2,278,941 2,504,265 2.504,265 2,676,490 72055 Laboratory Supplies 36,759 30,750 22,000 29,000 Total Supplies 2.862,254 3,215,465 2,981,730 3,263.740_ 7300 Maintenance 73011 Buildings 20,153 6,300 5,600 6,300 73021 Filtration Plants 34,039 - - - 73025 Streets Sidewalks&Curbs 1.742 8,200 - 2,200 73027 Heating&Cooling System 1,021 2,500 2,000 2,500 73028 Electrical Maintenance 57,199 61,635 43,000 45,500 73041 Furniture& Fixtures - 2,565 1,900 2,500 73042 Machinery&Equipment 114,488 139,415 119,000 118,000 73043 Motor Vehicles 1,702 6,150 5,000 6,150 Total Maintenance 230,344 226,765 176,500 183,150 7400 Services 74001 Communication 5,850 4,673 4,200 4,673 74002 Electric Service 675,688 675,000 675,000 675,000 74011 Equipment Rental 6,425 10,250 10.250 10,250 74021 Special Services 155,061 107,600 91,500 115,800 74022 Audits 12,893 13,150 13,150 13,150 74036 Advertising 464 700 232 700 74041 Travel&Reimbursables 3,877 2,500 2,100 2.000 74042 Education&Training 8,736 8,450 7,000 8,450 74051 Non City Facility Rental - - 675 800 74071 Association Dues 438 800 - - 74210 General Liability Insurance 2,491 3,500 3,500 3,500 74220 Errors&Omissions 3,968 5,000 5,000 5.000 74240 Auto Liability 561 600 1,500 600 74242 Auto Catastrophic 26 30 30 30 74271 Mobile Equipment 503 400 600 400 74272 Real&Personal Property 19,694 17,000 22,000 17,000 74280 Bonds 123 20 20 20 74281 Employee Fraud - 300 600 300 Total Services 896,798 949,973 837,357 857,673 Total Operating 4,779,216 5,197,423 4,941,748 5.318,996 12 CITY OF BAYTOWN SERVICE LEVEL BUDGET 3070 BAYTOWN AREA WATER AUTHORITY Actual Budget Estimated Proposed Acct# Acct Description 2009-10 2010-11 2010-11 2011-12 8000 Capital Outlay 80001 Furniture&Equip.<$5,000 20,732 - - - 84042 Machinery& Equipment - 35,000 35,000 - 86011 Capital Lease Purchases - 71,748 71,747 71,747 Total Capital Outlay 20,732 106,748 106,747 71,747 9000 Other Financing Uses 92101 To General Fund 50,000 50,000 50,000 250,000 91511 To BA WA Debt Service 1,996,706 2,163,281 2,163,281 2,166,126 91518 To BAWA CIPF - 1,110,000 1,110,000 1,445,000 Total Other Financing Uses 2,046,706 3,323,281 3,323,281 3,861,126 9900 Contingencies 99001 Contingencies - 75,000 75,000 75,000 Total Contingencies - 75,000 75,000 75,000 TOTAL DEPARTMENT $ 6,846,654 $ 8,702,452 $8,446,776 $9,326,869 13 BAYTOWN AREA WATER AUTHORITY REVENUE BONDS LONG TERM DEBT AMORTIZATION SCHEDULES Principal Requirements Principal Revenue Amount or Outstanding Fiscal Year 2011-12 Outstanding Bonds Issue Oct. 1,2011 1 Principal Interest Total Se t.30,2012 Series,2002 S 3,800,000 S 2,390,000 S 215,000 S 119,306 S 334,306 S 2,175,000 Series,2006 13,290,000 10,510,000 580,000 299.008 879,008 9,930,000 Series,2007 6,505,000 6,335,000 695,000 257.813 952,813 5,640,000 Total S 19,235,000 S 1,490,000 S 676,126 S 2,166,126 S 17.745,000 Combined BAWA Debt,All Series Debt Requirements to Maturity Fiscal Principal Total Total Year 5/01 Interest Requirement 2012 S 1,490,000 S 676,126 $ 2,166,126 2013 1,535,000 624,301 2,159,301 2014 1,590,000 569,911 2,159,911 2015 1,645,000 512,621 2,157,621 2016 1,710,000 452,691 2,162,691 2017 1,765,000 389,961 2,154,961 2018 1,830,000 324,799 2,154,799 2019 1.900,000 254,346 2,154,346 2020 1,030,000 180,658 1,210,658 2021 735,000 143,588 878,588 2022 755,000 122,273 877,273 2023 775,000 100,000 875,000 2024 800,000 76.750 876.750 2025 825,000 52.350 877,350 2026 850,000 26,775 876,775 Total S 19,235,000 S 4,507,150 S 23.742,150 Combined BAWA Debt,All Series omterest Debt Requirement to Maturity 2.500 •Principal 2.000 ee 1.500 ` 0 1.000 � 0.500 c 0.000 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 Fiscal Year 14 BAYTOWN AREA WATER AUTHORITY REVENUE BONDS DETAIL DEBT AMORTIZATION SCHEDULES Fiscal Interest Principal Interest Interest Annual Principal Total Year Rate Due 5/01/12 Due 11/01/11 Due 5/01/12 Requirement Outstandin Outstandin Revenue Bond,Series 2002 Date of Issue-January 10 2002 Term-19 Years S 6,040,949 2002 S - S 81,895 S - $ 81,895 $ 3,800,000 5,959,054 2003 - 98,274 98,274 196,549 3,800,000 5,762,505 2004 5.500% 150,000 98,274 98,274 346,549 3,650.000 5,415,956 2003 5.500016 155,000 94,149 94,149 343,299 3,495,000 5,072,658 2006 5.500010 165,000 89,887 89,887 344,774 3,330,000 4,727,884 2007 5.500% 170.000 85,349 85,349 340,699 3,160,000 4,387,185 2008 5.500% 180,000 80,674 80,674 341,349 2,980,000 4,045,836 2009 5.500% 190,000 75,724 75,724 341,449 2,790,000 3,704,388 2010 5.500% 195,000 70,499 70,499 335,999 2,595,000 3,368,389 2011 5.350% 205,000 65,137 65,137 335,274 2,390,000 3,033.115 2012 4.700% 215,000 59.653 59,653 334,306 2,175,000 2,698,809 2013 4.800% 230,000 54,601 54,601 339,201 1,945,000 2,359,608 2014 4.900% 240,000 49,081 49,081 338.161 1,705,000 2,021,446 2015 5.000% 250,000 43,201 43,201 336,401 1,455,000 1,685,045 2016 5.000% 265,000 36,951 36,951 338,901 1,190,000 1,346,144 2017 5.000% 275,000 30,326 30,326 335,651 915,000 1,010,493 2018 5.100% 290,OOD 23,451 23,451 336,901 625,000 673,591 2019 5.125% 305,000 16,056 16,056 337,111 320,000 336,480 2020 5.150% 320.000 9,240 8,240 336.480 - - S 3,800,000 S 1,161,422 S 1,079,527 S 6,040,949 Revenue Bond,Series 2006 Date of Issue-June 14,2006 Term-20 Years S 17,537,835 2007 2.250% S 595,000 $ 283,082 S $ 878,082 S 12,695,000 16,659,753 2008 2.250% 530,000 174,640 174,640 879,280 12.165,000 15,780,473 2009 2.300% 540,000 168,678 168,678 877,355 11,625.000 14,903,118 2010 2.300% 550,000 162,468 162,468 874,935 11,075,000 14,028,183 2011 2.350% 565,000 156.143 156,143 877.285 10,310,000 13 150 898 2012 2.400% 590,000 149,504 149,504 879.008 9,930 000 12,271,890 2013 2.5001/6 590,000 142,544 142,544 875.088 9,340,000 11,396,803 2014 2.600% 605,000 135,169 135,169 875,338 8,735,000 10.521,465 2015 2.650% 620,000 127,304 127,304 974,608 8,115,000 9,646,858 2016 2.700% 640,000 119,089 119,089 878,178 7,475,000 8,768,680 2017 2.750% 655,000 110,449 110,449 875,898 6.820,000 7,892,783 2018 2.800% 675,000 101,443 101,443 877,885 6,145,000 7,014,898 2019 2.850% 695,000 91,993 91,993 878,985 5,450,000 6,135.913 2020 2.900% 710,000 82,089 82,089 874,178 4,740,000 5,261,735 2021 2.9000/c 735,000 71,794 71,794 878,588 4.005,000 4,383,148 2022 2.950% 755,000 61,136 61,136 877,273 3,250,000 3,505,875 2023 3.000% 775,000 50,000 50,000 875,000 2,475,000 2,630,875 2024 3.050% 800,000 38,375 38,375 876,750 1,675,000 1,754,125 2025 3.100% 825,000 26,175 26,175 877,350 850,000 876,775 2026 3.150% 850,000 13,388 13,388 876.775 - - $ 13,290,000 S 2,265,458 $ 1,982,376 S 17,537,835 15 BAYTOWN AREA WATER AUTHORITY REVENUE BONDS DETAIL DEBT AMORTIZATION SCHEDULES Fiscal Interest Principal Interest Interest Annual Principal Total Year Rate Due 5/01/12 Due 11/01/11 Due 5/01/12 Requirement Outstanding Outstnndin Rev. Refunding Bond,Series 2007 Date of Issue-February I,2007 Term- 13 Years $ 8,842,941 2007 $ - $ 66,153 $ - $ 66,153 $ 6,505,000 8,776,788 2008 4.000% 40,000 132,306 132,306 304,613 6.465,000 8,472,175 2009 4.000% 40.000 131,506 131,506 303,013 6,425,000 8,169,163 2010 4.000% 45,000 130,706 130,706 306,413 6,380,000 7,862,750 2011 4.000% 45,000 129,806 129,806 304,613 6,335,000 7,558 139 2012 4.000% 695.000 128.906 128,906 952,813 5.640,000 6,605,325 2013 4.000% 715,000 115,006 115,006 945,013 4,925,000 5,660.313 2014 4.000% 745,000 100,706 100,706 946,413 4,180,000 4,713.900 2015 4.000% 775,000 85,806 85,806 946,613 3,405,000 3,767.288 2016 4.000% 805,000 70,306 70,306 945,613 2,600,000 2,821,675 2017 4.000% 835,000 54,206 54,206 943,413 1,765,000 1.878,263 2018 4.250% 865,000 37,506 37,506 940,013 900,000 938,250 2019 4.250% 900,000 19,125 19.125 938,250 - - $ 6.505,000 $ 1.202,047 S 1,135,894 S 8,842,941 16 CITY OF HOUSTON UNTREATED WATER RATES Year Rate 04/81 .22142 02/83 .24157 10/86 .25123 10/87 .28022 01/88 .26591 FIRST 150 MGD/PER 1,000. .26113 NEXT 150 MGD 08/88 .28426 FIRST 300 MGD/PER 1,000, 27915 NEXT 300 MGD 07/89 .29344 FIRST 300 MGDfPER 1,000. .28817 NEXT 300 MGD 08/90 .31178 FIRST 300 MGD/PER 1,000, .30618 NEXT 300 MGD 02/92 .31820 FIRST 300 MGD/PER 1,000, .31249 NEXT 300 MGD 10/93 .32907 FIRST 300 MGD/PER 1,000, .32316 NEXT 300 MGD 10/94 .37192(GRACE UP TO 13.1 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 11.9) 06/04 .385(GRACE UP TO 13.1 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 11.9) 04/05 .398(GRACE UP TO 17.38 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 04106 .4123(GRACE UP TO 17.38 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 04/07 .4238(GRACE UP TO 17.38 MGD. 1F WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 04/08 .4314(GRACE UP TO 17.38 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 04/09 .4533(GRACE UP TO 17.38 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 04/10 .4546(GRACE UP TO 17.38 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 06/10 .5647(GRACE UP TO 17.38 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 04/11 .5754(GRACE UP TO 17.38 MGD. IF WE GO OVER,THEN 5%ADDED TO ANYTHING OVER 15.8) 17 TREATED WATER RATES Increase Year Rate Amount Comments 1981 S0.97 COB 1985- 1987 S0.97 COB,S1.00 Other Result of rising operating cost. (Raw water 1988. 1992 S1.07 COB,S1.10 Other $0.10 rates up 25%) 1993- 1998 S1.18 COB,SI 21 Other $0.11 Result of increase in raw water rates. 1999-2006 $1.26 COB,S 1.29 Other $0.08 Funding for plant expansion debt Funding for new water line debt and City o 2007 S1.39 COB,S1.42 Other $0.13 Houston rate increase. Funding or new water line debt and City o 2008 S 1.46 COB.S 1.49 Other S0.07 Houston rate increase. Funding for new water line debt, other operating increases and City of Houston rate 2009 $1.55 COB,S1.58 Other S0.09 increase. Funding for new water line debt, other operating increases and City of Houston rate 2010 S I.7 i COB,$1.74 Other S0.16 increase. Funding for new water line debt, other operating increases and City of Houston rate 2011 S1.96 COB,S1.99 Other S0.25 increase. Funding for new water line debt, other operating increases and City of Houston rate 2012 $2.15 COB,S2.18 Other S0.19 increase. 18 3131/11 2011 WATER & SEWER RATES Rate increase effective date April 1, 2011 City of Houston Ordinance 2010-305 requires the Combined Utility System (CUS) to implement an annual rate adjustment to be effective on April 1st of each year. The required water and wastewater rate adjustment under the ordinance for April 1, 2011 is 1.9%. This rate adjustment is based on the regional consumer inflation plus population percentage change for Houston. The 2010 ordinance deferred half of the total increase in residential rates, to be implemented across 2011 through 2013. This year, in addition to the 1.9% yearly rate adjustment, the residential rates will increase an additional 6.0% for a total of 7.9%. The remaining increases over the next two years will bring residential water rates in line with actual cost of service for residential customers. This annual rate adjustment is intended to help cover cost increases that impact the provision of safe, clean drinking water and the collection and treatment of wastewater. This includes operational costs as well as the costs involved in repairing and replacing portions of the system's aging infrastructure. The bill you receive in May will reflect the rate adjustment. The new rate tables will be posted on the City's website at WWW.HOUSTONWATERBILLS.ORG. 19