Combined Water & Sewage System Improvements Financial Feasibility Report
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CITY OF SALINA, KANSAS
COMBINED WATER
AND SEWAGE SYSTEM IMPROVEMENTS
FINANCIAL FEASIBILITY REPORT
GOVERNING BODY
Gerald F. Simpson, Mayor
Jack Weisgerber, Commissioner
Wm. "Bill" Usher, Commissioner
Keith G. Duckers, Commissioner
Robert C. Caldwell, Commissioner
ADMINISTRATION
Norris Olson, City Manager
Don L. Harrison, City Clerk
Larry Bengston, City Attorney
Dean Boyer, City Engineer
Ron Webster, Director of Utilities
Laverne Pauls, Office Manager of Water and Sewage Department
CONSULTING ENGINEER
Wilson and Company
Salina, Kansas
BOND COUNSEL
Stinson, Mag, Thomson, McEvers and Fizzell
Kansas City, Missouri
FINANCIAL CONSULTANT
First Securities Company of Kansas, Inc.
Wichita, Kansas
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TABLE OF CONTENTS
Page
I. Preface.. ...... ............................ ........... ...... .... ....... ............... ....1
II. Scope... ......... ........ ........ .... ..... ... .... ...... .... .... ........... .... ......... ....3
III. Allocation of Costs ...............................................................4
IV. Analysis of Present Water and Sewage
System Revenue Bonded Indebtedness -
Series 1961.................................................... ........... .......... ...6
V. Analysis of Water and Sewerage System
Operations........... ..... ........ .... .... .... ... ........ ...... .... .... .... .......... ..8
VI. Water and Sewer Rate Schedules.....................................30
VII. Comparative Water and Sewer Rates for
Cities in Kansas.................................................................38
VIII. Additional Indebtedness Requirements............................44
IX. Projection of Future Water and
Sewage System Operations ...............................................49
X. Flow of Funds.....................................................................50
XI. Revenue Bond Maturity Schedules...................................53
XII. Summary and Recommendations......................................61
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PREFACE
In determining the financial feasibility of bond issuance to
develop an adequate water treatment and distribution system, it is
necessary to examine the effect of such financing of the additional
Water and Sewage System Revenue Bond Debt capacity of the
combined Water and Sewage System of the City of Salina, Kansas.
The possibilities ofthe issuance of additional revenue bonds rang-
ing from $1,500,000 to $3,000,000 junior lien revenue bonds are
analyzed, and maturity schedules for the ranging amount of bonds
to be issued are set forth in order that the cost is clearly reflected.
Several basic facts should be emphasized in setting up finan-
cial procedures for revenue bond programming:
A. Revenue Bonds will constitute a lien on the revenues of
the entire Water and Sewage System operations ofthe
City and will not be a general obligation tax liability of
the City. By statute, such bonds and the interest
thereon are to be paid solely from the rates, fees, and
charges for water and sewer services, and not from any
other funds or sources.
B. Revenue Bonds establish the burden of payment for
water service and sewer service on the actual user of
such service rather than upon the assessed valuation of
properties lying within the corporate limits of the City.
Revenue Bonds are not and cannot become general
obligations of the City, and revenue bond financing is
expressly a "self-liquidating" financial vehicle.
C. Revenue Bond procedures require that the service
charge and rates shall be sufficient to pay the cost of
operation, improvement, and maintenance of the com-
bined utility system financed, provide adequate bond
reserves, and pay the principal of and interest on all
outstanding Water and Sewage System Revenue
Bonds. This, of course, means that revenue bond
schedules must be adapted to the net income available
for servicing any new additional revenue bonded in-
debtedness, as well as the balance of$l,820,OOO Water
and Sewage System Revenue Bonds, Series of 1961,
which will mature on August I, 1986.
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D. Revenue Bonds, through procedures established at the
time of issuance, create a businesslike climate in the
operation and maintenance ofthe combined Water and
Sewage System. This is a result of Kansas statutory
requirements, the continuing financial interest of
bondholders and bond underwriters, and the necessity
for maintaining adequate net earnings and efficient
and businesslike operational procedures. Excessive op-
erational expenses and failure to maintain net balances
in operational accounts would result in inferior net
incomes and thus focus the attention of City officials on
any uneconomical operational conditions.
E. Revenue Bonds establish procedures which assure a
maximum number of continuous water and sewer con-
nections, and emphasize the necessity that all proper-
ties afforded water and sewer service shall be fairly and
equitably charged for the availability of such services.
F. There is no election required in the case of the issuance
of additional Revenue Bond financing; however, a
Notice of Intent to issue additional Revenue Bonds
would be published and a fifteen (15) day protest period
would have to elapse without a 200/0 protest from the
qualified electors of the City before bonds would be
issued. The total amount of the construction project
would be listed in the Notice ofIntent, which includes
the Government Grant portion of $972,900.
G. Moody's Rating Services reduced the rating of the
Series 1961 Water and Sewage System Revenue Bonds
from an "A" to a "Baa", and it is necessary to proceed
with reestablishing the Series 1961 Bonds to an "A"
rating and to pursue the possibility of obtaining an "A"
rating on the new revenue bonds to be issued.
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,II.
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SCOPE
In developing this Report, the fiscal operations of the Com-
bined Water and Sewage System Departments for the past five
years have been examined, covering the period of time from
January 1, 1971 through December, 1975, and also the first ten
months operations of 1976. The Report has taken into considera-
tion the increased annual gross revenue and also the increased
annual operational expenses of the Water and Sewage System
during these periods of time in order to project additional water
and sewer rate increases over the next five year period to cover
debt of the Series 1961 Bonds and any additional indebtedness.
The object in the revenue bond program contained herein is to
coordinate all system indebtedness which is shown in the six dif-
ferent financial pro formas with the schedule as follows:
Exhibit I - $1,500,000 - 20 year maturity
Exhibit II - $2,000,000 - 25 year maturity
Exhibit III - $2,250,000 - 25 year maturity
Exhibit IV - $2,500,000 - 25 year maturity
Exhibit V - $2,750,000 - 25 year maturity
Exhibit VI - $3,000,000 - 25 year maturity
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The following is an incomplete list of projects that are needed
to develop an adequate water treatment and distribution system.
These projects are those listed of highest priority and should be
completed in the shortest time frame to help eliminate existing
problems within the City's present system.
1. Water Treatment Plant
Sludge Disposal Facilities
To meet E.P.A. discharge requirements. . . .. $ 575,000.00
2. South Santa Fe Avenue Main
30" main from Water Plant south to
Crawford Avenue. This main is
needed to supply a distribution
system and is a prerequisite to the
mains on Crawford Avenue................ 142,000.00
3. West Crawford Main
20" main along Crawford Avenue
from Santa Fe A venue to Broadway
Boulevard. This main is needed to
supply a distribution system in the
west central part of town. This main
should be installed prior to any
reconstruction work on Crawford
Avenue................................. .
169,500.00
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III.
ALLOCATION OF COSTS
4. East Crawford Main
30" main along Crawford Avenue
from Santa Fe Avenue to Ohio Street.
This main is needed to supply a
distribution system in the east side of
town and to supply a 20" main on
Ohio Street. This main should be
installed prior to any reconstruction
work on Crawford Avenue . . . . . . . . . . . . . . . . .
276,000.00
5. North Fourth Main
20" main from the Water Treatment
Plant to 1.0 MG Tower located at
Santa Fe A venue and Lincoln Avenue . . . . . .
427,500.00
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6. Northwest Main
12" main on Grand Avenue from
Woodlawn Avenue to Ninth Street,
then north to Euclid Avenue and the
new elevated tower .......................
350,000.00
7. North Elevated Tower
0.5 MG Elevated Water Tower in
Thomas Park or 1-70 area. Needed
to increase deficient fire flow in
1-70 area.................................
8. South Ohio Main
20" main on Ohio Street from
Crawford Avenue to Magnolia Road
and 20" main on Magnolia Road from
Ohio Street to Key Acres Tower and
from Key Acres Tower to South Ninth
Street. This loop will hopefully
alleviate the riled water situation
which prevails in the southeast area .......
295,000.00
600,000.00
ESTIMATED CONSTRUCTION COSTS.. $2,835,000.00
TOTAL ESTIMATE FOR BOND
ISSUE............................... $3,000,000.00
In addition to the above cost, A Grant from the Federal Govern-
ment of $972,900 will be allocated to item #1.
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IV.
ANALYSIS OF PRESENT W ATERAND SEWAGE SYSTEM
REVENUE BONDED INDEBTEDNESS. SERIES 1961
The following annual principal and interest requirements of
the Water and Sewage System Revenue Bonded indebtedness and
funds in reserve accounts are listed below. The principal and
interest payments are due August 1 of each year and semiannual
interest due on February 1 in each year. All funds in the accounts
listed below are as of October 30, 1976.
Water and Sewage System Revenue Bonds, Series of 1961
(Issued under Ordinance No. 6546)
Maturity Interest
Year Rate Principal Interest Total
8-1-77 3.50% $ 150,000 $ 33,097.50 $ 183,097.50
8-1-78 3.60% 155,000 60,945.00 215,945.00
8-1-79 3.60% 160,000 55,365.00 215,365.00
8-1-80 3.60% 170,000 49,605.00 219,605.00
8-1-81 3.60% 175,000 43,485.00 218,485.00
8-1-82 3.60% 185,000 37,185.00 222,185.00
8-1-83 3.70% 195,000 30,525.00 225,525.00
8-1-84 3.70% 200,000 23,310.00 223,310.00
8-1-85 3.70% 210,000 15,910.00 225,910.00
8-1-86 3.70% 220,000 8,140.00 228,140.00
$1,820,000 $357,567.50 $2,177,567.50
Account Funds
Bond Reserve Fund ................. $ 560,000.00*
Depreciation and Emergency
Replacement Account ............... $ 146,605.91**
Bond Retirement Account ........... -0--
Principal and Interest Account. . . . . . . 69,121.65
*The Bond Ordinance No. 6546 requires a maximum Bond
Reserve of $300,000. The additional $260,000 is interest ac-
cumulated from investments:
**Bond Ordinance No. 6546 requires a maximum Deprecia-
tion and Emergency Replacement Account of $125,000. The
additional $21,605.91 is interest accumulated from invest-
ments.
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The call provisions provide that bonds may be called for re-
demption and payment on August 1, 1971, or any interest payment
date thereafter at par and accrued interest to date of redemption,
together with a premium of 3% of the principal amount of each
such bond so redeemed and paid. Bond Numbers remaining out-
standing at the writing of this Report are Nos. 1781/3600.
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v.
ANALYSIS OF WATER
AND SEWERAGE SYSTEM OPERATIONS
The following analysis has been made of the City's annual
audits, annual financial report, and profit and loss statements for
the years 1971 through 1975 and the first ten months of 1976
(unaudited). The comparison of operating revenue and operating
expenses have been examined to determine the areas of increases
in each department.
1976
FIRST 10
1971 1972 1973* 1974 1975 MONTHS
OPERATING REVENUE
Water Revenue.............. $ 651,739 $ 630,858 $ 965,012 $1,003,236 $1,041,120 $ 965,160
Sewage ..................... 372,516 384,634 390,624 366,817 399,484 347,008
Miscellaneous Income . . . . . . . . 13,684 4,091 2,086 8,258 20,354 9,814
Tapping Service and
Frontage .. .. .. .. .. .. .. .. .. 11,607 12,171 6,810 19,374 13,250 15,059
Service Charge -
Sanitation Dept. ........... 3,124 3,183 3,275 5,368 5,734 4,384
Gross Revenue.............. $1,052,670 $1,031,754 $1,367,807 $1,403,053 $1,479,942 $1,341,425
OPERATING EXPENSES
Water Supply ............... $ 9,702 $ 7,046 $ 10 ,220 $ 12,776 $ 21,344 $ 16,891
Softening and
Treatment ................ 201,504 191,059 204,009 280,758 299,644 271,849
Pumping................... . 50,794 47,969 52,493 62,982 81,418 72,763
Distribution. . . . . . . . . . . . . . . . . 84,171 80,138 103,615 96,203 116,546 88,655
Customers Account
and Collection. . . . . . . . . . . . . 114,801 119,051 128,068 160,621 168,966 147,411
Administrative and
General .. .. .. .. .. .. .. .. . .. 147,250 155,871 161,242 199,577 212,899 244,069
Sewage Treatment
and Collection .. .. .. .. .. .. . 160,920 157,092 ~,502 207,025 261,525 229,44~
Total Operating
Expenses .. .. .. .. .. .. . .. ... $ 769,142 l 758,226 ~~~149 $1,019,942 $1,162,342 $l,071,08()
Net Operating Income
for Debt Service........... $ 283,528 $ 273,528 $ 511,658 $ 383,111 $ 317,600 $ 270,345
*Water rates increased on January I, 1973.
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IV;;;
THE CITY OF SALINA
WATER AND SEWAGE FUND
COMPARATIVE INCOME STATEMENT
DECEMBER 31
1972 1971
REVENUE
Water revenue . . . . . . . . . . . . . . . . . . . . . .. $
Sewage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Miscellaneous income ................
Tapping service and frontage .........
Service charge - Sanitation
Department....................... 3,183.45
TOTAL REVENUE. . . . . . . . . . . . .. $1,034,938.89
630,858.30
384,634.35
4,091.42
12,171.37
OPERATING EXPENSES................
NET INCOME AVAILABLE
FOR DEBT SERVICE.................. $
758,229.86
$ 651,739.39
372,516.99
13,684.33
11,607.85
3,124.26
$1,052,672.82
769,146.06
276,709.03 $ 283,526.76
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$ 234.35
4,597.21
1,840.32
1,917.60
101.08
1,012.24
$ 9,702.80
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THE CITY OF SALINA
Saline County, Kansas
WATER AND SEWAGE FUND
COMPARATIVE OPERATING EXPENSES STATEMENT
WATER SUPPLY EXPENSES
DECEMBER 31
1972 1971
Maintenance - Well pumps and equipment. $
Well power ..............................
Well house signals .......................
River intake power. . . . . . . . . . . . . . . . . . . . . . .
Maintenance - Building and grounds ......
Maintenance - River basin................
.62
2,266.39
1,893.16
2,268.80
52.54
564.97
$ 7,046.48
SOFTENING AND TREATMENT EXPENSES
Supervision. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 22,516.56
Salaries ................................. 42,726.06
Electric power ........................... 15,736.00
Gas service .............................. 3,460.62
Building operating supplies . . . . . . . . . . . . . . . 44.96
Chemicals............................... 84,815.74
Maintenance - Equipment ................ 9,068.18
Maintenance - Buildings.................. 327.92
Electricity - Calcium plant. . . . . . . . . . . . . . . . 3,043.20
Gas - Calcium plant...................... 6,885.27
Supplies - Calcium plant ................. 2,435.42
$191,059.93
PUMPING EXPENSES
Supervision.............................. $
Salaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Electric power ...........................
Gas service. . . . . . . . . . . . . . . . .. . . . . . . . . . . . .
Lubricants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Building operating supplies . . . . . . . . . . . . . . .
Maintenance - Electrical equipment
& pumps ..............................
Maintenance - Station building
and grounds. . . . . . . . . . . . . . . . . . . . . . . . . . .
14,027.36
26,309.56
5,361. 72
353.23
47.85
1,175.51
514.10
179.84
$ 47,969.17
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$ 21,527.76
43,137.22
14,016.00
3,797.68
141.63
99,515.66
6,550.72
302.88
3,128.00
7,127.22
2,259.75
$201,504.52
$ 13,339.71
25,909.61
9,245.85
396.20
108.21
1,130.60
564.02
99.90
$ 50,794.10
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DECEMBER 31
1972 1971
DISTRmUTION EXPENSES
Supervision. . . . . .. .. .. . . . . .. . . .. . . . .. .... $
Salaries .................................
Meter maintenance salaries. . . . . . . . . . . . . . .
Meter maintenance supplies ..............
Vehicle and equipment expense...........
Tapping supplies. . . . . .. ... . ... . . .. . . . . . . .
Maintenance - Distribution mains. . . . . . . . .
Maintenance - Elevated tanks ............
Maintenance - Reservoirs. . . . . . . . . . . . . . . . .
Maintenance - Hydrants. . . . . . . . . . . . . . . . . .
Miscellaneous materials and labor ........
8,125.76
38,577.86
12,865.68
308.90
6,851.40
5,891,24
4,253.86
778.46
0.00
441.00
2,044.23
$ 80,138.39
$ 7,829.46
43,869.94
12,265.74
1,375.27
7,520.77
2,399.82
5,672.44
258.94
455.00
434.65
2,089.54
$ 84,171.57
CUSTOMERS' ACCOUNTING AND COLLECTION EXPENSES
Office salaries ........................... $ 49,199.54
Servicemen and meter readers salaries .... 47,431.99
Servicemen and meter readers supplies . . . . 470.93
Collection stations ....................... 1,807.00
Maintenance - Office equipment. . . . . . . . . . . 1,814.07
Office supplies ........................... 2,706.49
Vehicle expense.......................... 3,154.79
Postage ................................. 12,466.57
$119,051.38
ADMINISTRATIVE AND GENERAL EXPENSES
Supervision. . . . . . . . . . . . . . . .. . . .. . . . . .. . .. $ 13,752.00
Salaries ................................. 5,332.44
Telephone expense....................... 3,381.25
Office supplies........................... 227.51
Special engineering...................... 675.00
Social security ........................... 19,689.31
Insurance ............................... 7,009.99
Sales tax ................................ 954.77
Property taxes ........................... 35,000.00
Accounts charged off..................... 843.13
Long and short cash...................... 6.44
Employees' retirement. . . . . .. . .. . . .. . . . . . . 20,918.77
Accident insurance. . . . . . . . . . . .. . .. . . . . . . . 15,695.10
Auditing expense ........................ 3,120.00
Contracting service ...................... 3,822.85
Organizational dues and memberships. . . . . 733.29
Office maintenance and utilities .......... 6,900.00
Service performed - Other departments .... 16,650.00
Car mileage and travel expenses .......... 1,159.96
$155,871.81
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$ 47,052.82
44,920.75
390.87
1,814.55
2,324.37
3,474.53
2,727.17
12,096.55
$114,801.61
$ 13,152.00
5,208.00
3,512.85
586.88
675.00
19,264.89
7,298.80
1,165.58
30,000.00
636.63
63.62
18,549.48
16,127.99
4,000.00
2,933.04
718.53
6,900.00
15,519.00
938.45
$147,250.74
$ 39,860.31
70,859.21
25,055.69
3,156.22
194.68
5,429.01
593.99
6,583.72
2,455.49
6,732.40
$160,920.72
$769,146.06
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DECEMBER 31
1972 1971
SEWAGE TREATMENT AND COLLECTION EXPENSES
Supervision. . . . . . . . . . . . . . . . .. . . . . . . . . . . .. $ 34,819.72
Salaries ................................. 70,415.92
Electric power ........................... 26,800.20
Gas service ...... . . . . . . . . . . . . . . . . . . . . . . . . 3,378.05
Plant operating supplies . . . . . . . . . . . . . . . . . . 872.04
Maintenance - Equipment ................ 6,894.82
Maintenance - Buildings and grounds..... 524.13
Maintenance - Pumping stations .......... 4,931.22
Maintenance - Sanitary sewers. . . . . . . . . . . . 2,221.50
Vehicle expense. . . ... . . . . . . .. . . . . . . . . . . . . 6,235.10
$157,092.70
TOTAL OPERATING EXPENSES ...... $758,229.86
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THE CITY OF SALINA
WATER AND SEWAGE FUND
COMPARATIVE STATEMENT
OF REVENUE AND EXPENSE
DECEMBER 31
1974 1973
REVENUE
Water Revenue.............. $1,003,236.78 $
Sewage...................... 366,817.60
Miscellaneous income ........ 8,258.52
Tapping service and frontage. 19,374.33
Service charge - Sanitation
Department ................. 5,368.95
TOTAL REVENUE .... $1,403,056.18
OPERATING EXPENSES...... 1,019,945.44
NET INCOME AVAILABLE FOR
DEBT SERVICE............. $ 383,110.74
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965,012.73
390,624.31
2,086.08
6,810.33
3,275.64
$1,367,809.09
856,153.29
$ 511,655.80
$ 455.54
3,391.53
2,304.10
2,186.96
110.32
1,772.22
$ 10,220.67
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THE CITY OF SALINA
Saline County, Kansas
WATER AND SEWAGE FUND
COMPARATIVE OPERATING EXPENSES STATEMENT
WATER SUPPLY EXPENSES
Maintenance - well pumps and equipment . $
Well power ..............................
Well house signals.......................
River intake power. . . . . , . . . . . . . . . . . . . . . . .
Maintenance - building and grounds. . . . . . .
Maintenance - river basin ................
DECEMBER 31
1974 1973
131.98
6,938.37
2,297.39
1,178.22
22.90
2,208.02
$ 12,776.88
SOFTENING AND TREATMENT EXPENSES
Supervision.............................. $ 32,065.20
Salaries................................. 47,449.30
Electric power ........................... 16,191.91
Gas service. . . . .. . . . . . . . . . . . . . . . . . . . . . . . . 3,851.75
Building operating supplies . . . . . . . . . . . . . . . 76.48
Chemicals............................... 147,500.96
Maintenance - equipment. . . . . . . . . . . . . . . . . 13,425.52
Maintenance - buildings. . . . . . . . . . . . . . . . . . 3,801.61
Electricity - calcium plant. . . . . . . . . . . . . . . . 3,657.44
Gas - calcium plant...................... 9,065.03
Supplies - calcium plant. . . . . . . . . . . . . . . . . . 3,672.93
$280,758.13
PUMPING EXPENSES
Supervision. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $
Salaries. . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . .
Electric Power...........................
Gas service. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Lubricants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Building operating supplies . . . . . . . . . . . . . . .
Maintenance - electrical equipment & pumps
Maintenance - station building and grounds
Wearing apparel.........................
14
15,852.73
36,622.35
7,494.60
352.08
108.00
545.15
433.73
131.61
1,441.99
$ 62,982.24
$ 23,099.50
43,438.97
15,214.76
2,373.77
39.95
102,467.40
6,723.76
343.23
2,808.96
5,949.90
1,549.48
$204,009.68
$ 14,818.89
29,075.92
7,046.72
351.17
105.70
756.50
90.84
247.89
0.00
$ 52,493.63
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DECEMBER 31
1974 1973
DISTRIBUTION EXPENSES
Supervision. . . .. . . . . . .. . . . . . . . . . . . . . . .... $
Salaries .................................
Meter maintenance salaries. . . . . . . . . . . . . . .
Meter maintenance supplies ..............
Vehicle and equipment expense...........
Tapping supplies . . . . . . . . . . . . . . . .. . . . . . . . .
Maintenance - distribution mains .........
Maintenance - storage tanks . . . . . . . . . . . . . .
Maintenance - reservoirs .................
Maintenance - hydrants ..................
Miscellaneous materials and labor ........
14,260.15
44,654.84
8,094.27
1,306.99
7,837.16
6,906.84
8,554.10
840.04
0.00
1,311.51
2,437.56
$ 96,203.46
$ 8,517.22
38,123.36
13,338.83
3,576.64
5,167.23
5,429.32
7,967.63
17,982.89
0.00
1,642.90
1,869.64
$103,615.66
CUSTOMERS' ACCOUNTING AND COLLECTION EXPENSES
Office salaries .......................... $ 61,493.46 $ 51,659.33
Servicemen and meter readers salaries. . . 57,403.96 49,031.59
Servicemen and meter readers supplies. . . 854.52 521.90
Collection stations. . . . . . .. . . .. . . ... . . . . . 1,852.10 1,806.70
Maintenance - office equipment. . . . . . . . . . 2,176.90 2,357.53
Office supplies. . . . . . . . . . . . . . . . . . . . . . . . . . 4,213.92 4,564.00
Vehicle expense. . . . . .. . . . . .. . . .. . . . . . .. . 5,123.60 4,247.87
Postage ................................ 15,970.27 13,880.04
Lease data processing equipment. . . . . . . . . 11,353.72 0.00
Wearing apparel........................ 178.91 0.00
$160,621.36 $128,068.96
ADMINISTRATIVE AND GENERAL EXPENSES
Supervision............................. $ 15,840.80
Salaries................................ 7,338.04
Telephone expense ...................... 3,964.57
Office supplies. . . . . . . . . .. . . .. . . .. . . . . . . . 1,682.92
Special engineering ..................... 2,384.00
Social security.......................... 26,168.79
Insurance .............................. 7,213.05
Sales tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,331.84
Property taxes. . . . . . . . . . . . . .. . . . . . . . . . . . 40,000.00
Accounts charged off . . . . .. . . .. . . . . . . . . . . 2,107.20
Long and short cash. . . . . . . . . . . . . . . . . . . . . 20.61
Employees' retirement .................. 26,607.97
Accident insurance. . . . . . . . . . . . . . . . . . . . . . 21,975.93
Auditing expense ....................... 7,700.00
Contracting service ..................... 7,277.13
Organizational dues and memberships. . . . 570.42
Office maintenance and utilities ......... 6,900.00
Service performed - other departments .., 18,265.00
Car mileage and travel expenses . . . . . . . . . 2,229.70
$199,577.97
15
$ 14,358.00
5,869.25
3,723.78
321.10
681.38
21,656.20
7,516.03
704.69
35,000.00
408.48
80.84
20,423.04
19,666.35
3,550.00
1,612.25
918.72
6,900.00
16,650.00
1,202.17
$161,242.28
$ 25,278.58
84,389.03
27,738.67
4,406.58
995.77
13,204.54
9,065.41
10,010.91
10,415.65
10,997.27
0.00
$196,502.41
$856,153.29
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DECEMBER 31
1974 1973
SEW AGE TREATMENT AND. COLLECTION EXPENSES
Supervision. . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 28,988.40
Salaries. . . . . . . . . . .. . . . . . . . . .. . . . . . .... . 104,667.11
Electric power.. . . . . . . . . . . . . . . . .. . . . . . . . 28,714.47
Gas service .. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,276.54
Plant operating supplies. . . . . . . . . . . . . . . . . 1,284.79
Maintenance - equipment. . . . . . . . . . . . . . . . 13,654.21
Maintenance - buildings and grounds. .. . . 1,773.43
Maintenance - pumping stations ......... 8,305.23
Maintenance - sanitary sewers. . . . . . . . . . . 2,380.23
Vehicle expense. . . .. . . .. . . . . .. . . . . .. .. .. 12,648.99
Wearing apparel. . .. . . . . . . . . .. . . . . .. . . . . 332.00
$ 207,025.40
TOTAL OPERATING EXPENSES. $1,019,945.44
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CITY OF SALINA, KANSAS - WATER AND SEWERAGE DEPARTMENT
PROFIT AND LOSS STATEMENT
FOR THE YEAR ENDING DECEMBER 31, 1975
REVENUE
Water Revenue. . . . . . . . . . . . . . . . . . . . . . .. $1,041,120.65
Sewerage Revenue. . . . . . .. .. . . . . . . . . . .. 399,484.57
Miscellaneous Income. . . . . . . . . . . . . . . . . . 20,354.16
Front Footage and Tapping Charges .... 13,250.57
Service Charge - Sanitation Department 5,734.05
TOTAL INCOME. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$1,479,944.00
WATER SUPPLY EXPENSES
Maintenance - Well Pumps and
Equipment .. .. .. .. .. .. .. .. .. .. .. .... $
Well Power. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Well House Signals. . . . . . . .. . . .. . . . . .. .
River Intake Power. . . . . . ... . . .. . . . ....
Maintenance - Buildings and Grounds. . .
Maintenance - River Basin .............
5,170.80
10,602.50
2,402.38
2,411.30
32.86
725.10 $ 21,344.94
SOFl'ENING AND TREATMENT EXPENSES
Supervision ........................... $ 35,188.00
Salaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,709.10
Electric Power......................... 27,535.47
Gas Service ........................... 5,316.08
Building Operating Supplies. . . . . . . . . . . . 66.89
Chemicals. . . . .... . . . . . . . .. . . ... . . ... . . 152,614.78
Maintenance - Equipment . . . . . . . . . . . . . . 8,954.63
Maintenance - Buildings............... 45.79
Electric Power - Calcining Plant . . . . . . . . 5,840.68
Gas Service - Calcining Plant. .. . . .... . . 11,544.16
Supplies - Calcining Plant.............. 3,828.78 $299,644.36
PUMPING EXPENSES
Supervision ........................... $
Salaries.. . . . . .. . . . . . . . . .. . . . .. . . .. . . . .
Electric Power.......... ......... ......
Gas Service ...........................
Lubricants ............................
Building Operating Supplies. . . . . . . . . . . .
Maintenance -
Electric Equipment & Pumps. . . . . . . . .
Maintenance - Station Building
& Grounds ..........................
Wearing Apparel......................
21,192.93
44,205.10
13,158.07
391.02
193.55
643.97
43.56
238.15
1,351.98 $ 81,418.33
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DISTRIBUTION EXPENSES
Supervision ........................... $ 19,048.13
Salaries. . . . . . .. . . . . . . . . . . . . . . . .. . . . . . . 53,099.07
Meter Maintenance - Salaries. . . . . . . . . . . 8,872.69
Meter Maintenance - Supplies .......... 1,683.29
Vehicles - Equipment Expenses......... 7,035.92
Tapping Supplies ...................... 9,899.16
Maintenance - Distribution Mains...... 10,247.36
Maintenance - Storage Tanks. . . . . . . . . . . 3,241.13
Maintenance - Hydrants ............... 2,349.41
Miscellaneous Materials and Labor ..... 1,070.31 $116,546.47
CUSTOMER ACCOUNTING AND COLLECTION EXPENSES
Office Salaries......................... $ 58,697.37
Servicemen and Meter Readers Salaries . 63,267.17
Servicemen and Meter Readers Supplies. 167.60
Collection Stations. . . . . . . . . . . . . . . . . . . . . 1,841.35
Maintenance - Office Equipment........ 2,335.18
Office Supplies ........................ 5,253.80
Vehicle Expenses...................... 6,176.47
Lease Electronic Data
Processing Equipment ...............
Postage ...............................
Wearing Apparel......................
13,806.00
17,058.67
363.04
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$168,966.65
ADMINISTRATIVE AND GENERAL EXPENSES
Supervision........................... $
Salaries. . . . . . . . . . . . . . . . . . . .. . . . . . . . . . .
Telephone Expenses...................
Office Supplies ........................
Special Engineering ...................
Social Security ........................
Insurance - Buildings. . . .. . . . . . . . . . . . . .
Sales Tax. . . . . . . . . . . . . . . . . . . .. . . . . . . . .
Property Taxes. . . . . . . . . .. . . . .. . . . . . . . .
Accounts Charged Off . . . . . . . . . . . . . . . . . .
Long and Short Cash ..................
Employees Retirement ................ .
Accident Insurance ....................
Auditing Expense......................
Contracting Services . . . . . . . . . . . . . . . . . . .
Organizational Dues - Membership .....
Maintenance - Government Center. . . . . .
Services Performed -
Other Departments ..................
Car Mileage and Travel Expenses. . . . . . .
17,392.80
7,690.89
3,936.70
990.22
675.00
29,640.89
6,008.35
783.72
45,000.00
769.44
1,346.35
33,970.34
28,108.63
1,100.00
3,247.50
274.12
9,381.00
20,977.50
1,605.55
$212,899.00
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SEWAGE TREATMENT AND COLLECTION EXPENSES
Supervision ........................... $ 32,415.43
Operating Salaries. . . . . . . . . . . . . . . . . . . . . 119,397.86
Electric Power. . . . . . . . . . . ... . . .. . . . . . . . 47,284.68
Gas Service ........................... 4,667.52
Plant Operating Supplies. . . . . . . . . . . . . . . 1,905.96
Maintenance - Equipment.............. 23,007.39
Maintenance - Building and Grounds ... 1,413.60
Maintenance - Pumping Stations. . . . . . . . 10,060.98
Maintenance - Sanitary Sewer. . . . . . . . . . 4,489.04
Vehicle Expenses. . . . . . . . . . ... . . ... . . . . 16,162.21
Wearing Apparel ...............:...... 632.53
Q's TV Expenses.. .. . . . . . . . . .. . . . .. . . . . 88.37
Pump Station Monitor ................. 0.00 $261,525.57
TOTAL OPERATING EXPENSES.. . . . . . ... . . . . . . . . . . . . . . . . . . . . ... . ... . . . .$1,162,345.32
NET INCOME AVAILABLE FOR DEBT SERVICE.........................$ 317,598.68
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$867,805.58
311,591.46
9,476.53
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CITY OF SALINA, KANSAS
WATER AND SEWERAGE DEPARTMENT
PROFIT AND LOSS STATEMENT
FOR THE FIRST NINE MONTHS OF 1976
REVENUE
Water Revenue........................
Sewerage Revenue. . . . . . . . . . . . . . . . . . . . .
Miscellaneous Income .. . . . . . .. . . . .. . . . .
Front Footage and Tapping
Charges. . . . . . . . . . . . . . .. . . . .. . . . . . . . . 12,563.99
Service Charge - Sanitation
Department......................... 3,890.93
TOTAL INCOME.. . . . ... . . . . .. . . . . . . . . . . ... . . . . . . . . . .. . . . . .. . . . . .$1,205,328.49
WATER SUPPLY EXPENSES
Maintenance - Well Pumps and
Equipment.......................... $
Well Power. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Well House Signals....................
River Intake Power . . . . . . . . . . . . . . . . . . . .
Maintenance - Buildings and Grounds. . .
Maintenance - River Basin .............
577.21
8,770.00
2,575.56
3,455.03
18.47
419.92 $ 15,816.19
SOFTENING AND TREATMENT EXPENSES
Supervision........................... $ 28,026.80
Salaries............................... 42,536.26
Electric Power. . . . . . . . . . . . . . . . . . . . . . . . . 27,873.00
Gas Service........................... 5,314.65
Building Operating Supplies. . . . . . . . . . . . 113.81
Chemicals............................. 104,925.88
Maintenance - Equipment.............. 4,766.54
Maintenance - Buildings............... 264.47
Electric Power - Calcining Plant. . . . . . . . 6,154.22
Gas Service - Calcining Plant. . . . . . . . . . . 20,584.91
Supplies - Calcining Plant. . . . . . . . . . . . . . 1,232.49 $241,793.03
PUMPING EXPENSES
Supervision ........................... $
Salaries. . . . . . . . . . . . . . . . . .. . . . . . . . . . . . .
Electric Power. . . . . . . . . . . . . . . . . . . . . . . . .
Gas Service ...........................
Lubricants........................... .
Building Operating Supplies. . . . . . . . . . . .
Maintenance - Electric Equipment
& Pumps............................
Maintenance - Station Building
& Grounds. . . . . . . . . . . . . . .. . . . . . . . . . .
Wearing Apparel ......................
16,665.77
31,407.23
17,016.53
286.78
144.60
584.74
0.00
190.00
133.59 $ 66,429.24
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DISTRIBUTION EXPENSES
Supervision ...........:............... $
Salaries. .. .. . . . . . . . . . . . . . . . . . . . . . . .. ..
Meter Maintenance - Salaries ..........
Meter Maintenance - Supplies ..........
Vehicles - Equipment Expenses. . . . . . . . .
Tapping Supplies. . . . ... . . . .. . . .. . . . . . .
Maintenance - Distribution Mains ......
Maintenance - Storage Tanks. . . . . . . . . . .
Maintenance - Hydrants ...............
Miscellaneous Materials and Labor .....
11,089:01
36,564.18
7,063.99
4,593.39
6,436.22
5,874.42
3,233.58
847.22
3,535.53
762.93
$ 80,000.47
CUSTOMER ACCOUNTING AND COlLECTION EXPENSES
Office Salaries. . . . . . .. . . . . . . . . . . . . . . . .. $ 44,067.02
Servicemen and Meter Readers Salaries . 50,549.82
Servicemen and Meter Readers Supplies. 280.48
Collection Stations. . . . . . . . . . . . . . . . . . . . . 1,466.20
Maintenance - Office Equipment. . . . . . . . 1,949.02
Office Supplies ........................ 3,328.56
Vehicle Expenses...................... 4,265.07
Lease Electronic Data
Processing Equipment ...............
Postage ...............................
Wearing Apparel ......................
10,345.10
16,532.78
201.43
$132,985.48
ADMINISTRATIVE. GENERAL EXPENSES
Supervision ........................... $ 13,814.40
Salaries. . . . . . .. . . . . . . . .. . . . .. . . .. . . . . . 6,468.17
Telephone Expenses ................... 2,441.11
Office Supplies ........................ 754.97
Special Engineering ................... 675.00
Social Security ........................ 32,367.95
Insurance - Buildings .................. 0.00
Sales Tax ............................. 399.47
Property Taxes ........................ 37,502.00
Accounts Charged Off .. . . . . .. . .. . . . . . .. 0.00
Long and Short Cash .................. 29.16
Employees Retirement ................. 36,945.27
Accident Insurance .................... 33,515.81
Auditing Expenses. . . . . . . .. . . . . . .. . . . . . 3,565.00
Contracting Services . . . . . . . . . . . . . . . . . . . 2,198.22
Organizational Dues - Membership ..... 115.30
Maintenance - Government Center...... 10,734.00
Services Performed -
Other Departments.................. 17,027.00
Car Mileage and Travel Expenses. . . . . . . 4,003.37 $202,556.20
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SEW AGE TREATMENT AND COLLECTION EXPENSES
Supervision ........................... $ 20,761.07
Operating Salaries. . . . . . . . . . . . . . . . . . . . . 101,832.84
Electric Power. . . . . . . . . . . . . . . . . . . . . . . . . 43,593.20
Gas Service........................... 5,277.04
Plant Operating Supplies... . . ... . . . . ... 1,263.73
Maintenance - Equipment. . . . . . . . . . . . . . 11,662.19
Maintenance - Building and Grounds .,. 1,214.40
Maintenance - Pumping Stations ....... 4,351.56
Maintenance - Sanitary Sewer.......... 1,534.78
Vehicle Expenses. . . . . ... . . . ... . . .... . . 14,357.21
Wearing Apparel ...................... 715.01
Q's TV Expenses. . . . . . . . . . . . . . .. . . . . . . . 1,242.42
Pump Station Monitor................. 0.00 $207,805.45
TOTAL OPERATING EXPENSES.........................................$ 947,386.06
NET INCOME AVAILABLE FOR DEBT SERVICE.........................$ 257,942.43
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CITY OF SALINA, KANSAS
WATER AND SEWERAGE DEPARTMENT
BALANCE SHEET
(AS OF SEPTEMBER 30, 1976)
ASSETS
Accounts Receivable ................... $
Operating Store .......................
Operating Store - Inventory ............
Meter Parts.. . . .. . . . . . . .. . . . . .. . . . . .. .
Meter Parts - Inventory ..... . . . . . . . . . . .
Jobs in Process ........................
Cash.. . . .. . . . . . . .. . . . . . . ... . . . . .. . . ...
Furniture and Fixtures. . . . . . . . . . . . . . . . .
Plants, Mains, Equipment, etc. .........
Water and Sewerage Treasury..........
Operating Treasury. ... . . . .. . . . . .. .. . . .
Bond and Interest. . . . . . . . . . . . . . . . .. . . . .
Bond Reserve. . . . . ... . . . . . .. . . . . .. . . . . .
Bond Reserve - Investments ............
Depreciation and Emergency ...........
Depreciation and Emergency -
Investments. . . . . . . . . . . . . . . . . . . . . . . . . 122,000.00
Extension Bond Retirement ............ 0.00
Extension Bond Retirement -
Investments. . . . . . . . . . . . . . . . . . . . . . . . . 0.00
TOTAL ASSETS. .. . . . . .. . . . . . .. . . . . . . . .. . . . . . . . . .$11,315,961.32
140,309.78
0.00
88,532.93
2,376.76
12,463.30
0.00
8,802.12
.88,129.38
9,787,568.46
272,145.23
180,462.45
51,507.85
44.69
545,000.00
16,618.57
LIABILITIES
Accounts Payable Engs. ............... $ 181,508.77
Sanitation Fees Collected. . . . . . . . . . . . . . .
Bond Indebtedness. . .. . . . . . . . . . . .. . . . . .
Reserve for Services Performed .........
Reserve for Auditing. . . . . . . . . . . . . . . . . . .
Meter Deposits ........................
Reserve for Property Taxes . . . . . . . . . . . . .
Reserve for Bond Principal .............
Reserve for Bond Interest ..............
Reserve for Bond Reserve ..............
Reserve for Depreciation and
Emergency. . . . .. . . . . .. . . . . . . . . . . . . . . 138,618.57
Reserve for Extension and
Bond Retirement .................... 0.00
TOTAL LIABILITIES .............................$ 2,844,695.85
357.17
1,820,000.00
17,027.00
15,231.00
49,565.00
37,502.00
3,164.00
43,005.65
545,044.69
PROFIT & LOSS
Net Worth ............................ $8,371,867.48
Net Profit. . ... .. . . . ... . . . .. . . ... . . . ... 99,398.01 $ 8,471,265.47
TOTAL LIABILITIES AND NET WORTH. . . . . .. .. .$11,315,961.32
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TOTAL GALWNS
PURCHASED 1975
99,801,152 '--
59,444,720
28,278,888
21,991,200
19,271,400 .
18,336,472
14,464,824
13,092,992
11,522,940
11,509,476
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SALINA, KANSAS
WATERWORKS PROJECT
AVERAGE NUMBER OF
WATER AND SEWER CONNECTIONS
1972 13,336
1973 13,581
1974 13,016'
1975 14,154
1976 14,406
'The City of Salina was converted to the computer system in 1974
which gave an actual count of customers. Previously, the count
had been done manually.
WATER CUSTOMERS
(10 largest)
NAME
1. WESTINGHOUSE ELECTRIC
2. CAPEHART HOUSING
3. TONY'S PIZZA
4. ASBURY HOSPITAL
5. RURAL WATER DISTRICT
6. ST. JOHN'S HOSPITAL
7. KANSAS WESLEYAN UNIVERSITY
8. ROBERTS MANUFACTURING
9. STATLER HILTON
10. ROMNEY INTERNATIONAL
24
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VI.
WATER AND SEWER RATE SCHEDULES
There are 14,406 water customers and sewer connections in the
City of Salina, Kansas. The present water rates, effective January
1, 1973 and the present sewer rates, effective January 31, 1962, are
as follows:
BASED ON MONTHLY USE
EXCEPT FOR THE MINIMUM AMOUNTS ALLOWED
ACCORDING TO THE SIZE OF METER
RESIDENTIAL AND COMMERCIAL
CONSUMERS INSIDE CITY:
* First 2,000 Cu. Ft. @ 39\l per 100 Cubic Feet
Next 28,000 Cu. Ft. @ 27\l per 100 Cubic Feet
All over 30,000 Cu. Ft. @ 24\l per 100 Cubic Feet
Monthly minimum charges are as follows, based on size of meter
installed: .
Size of Minimum Cu. Ft.
meter Charge allowed
O/S" $ 2.00 300
%" 3.10 500
1" 3.90 600
lW' 6.50 1,000
2" 7.95 1,100
3" 14.75 2,000
4" 77.00 25,000
6" 110.00 30,000
8" 125.00 30,000
*Multiple consumers served by a master meter are charged at 39\l
per 100 cubic feet for all water consumed in excess of the minimum.
Approximately
7th gallons per cubic foot
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'~:'d1t.
BASED ON MONTHLY USE
EXCEPT FOR THE MINIMUM AMOUNTS ALLOWED
ACCORDING TO THE SIZE METER
RESIDENTIAL AND COMMERCIAL
CONSUMERS OUTSIDE CITY:
* First 2,000 Cu. Ft. @ 48.75lt per 100 Cu. Ft.
Next 28,000 Cu. Ft. @ 33.75lt per 100 Cu. Ft.
All over 30,000 Cu. Ft. @ 30.00lt per 100 Cu. Ft.
Monthly minimum charges**
Size of Minimum Cu. Ft.
Meter Charge Allowed
%" $ 4.00 300
%" 6.20 500
1" 7.80 600
lIh" 13.00 1,000
2" 15.90 1,100
3" 29.50 2,000
4" 154.00 25,000
6" 220.00 30,000
8" 250.00 30,000
*Multiple consumers served by a master meter are charged at
48.75lt per 100 cubic feet for all water consumed in excess of the
minimum.
**Minimum charge for Rural Water Districts is 125% of the inside
city minimum.
31
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PROCEDURE OF DETERMINING FEES
The sewer use fee is refigured annually and remains constant
starting with the July billing through the following June.
RESIDENTIAL:
For each residence ofless than four units served by a master water
meter and discharging waste to the sanitary sewer system, the
sewer use fee is based on the average monthly water consumption
according to the meter reading of January, February, and March.
The sliding scale of the attached rate schedule applies.
MULTIPLE DWELLINGS SERVED BY MASTER WATER
METER:
The sewer use fee for licensed Apartment Houses and Mobile
Home Courts of four or more units, served by a master water meter
or meters, is based on the average monthly water consumption
according to the meter readings of January, February, and March.
RESIDENCES NOT CONSUMING CITY WATER:
Residences not consuming city water, but which are served by the
sanitary sewer system are charged a flat monthly fee of $1.50.
COMMERCIAL AND INDUSTRIAL:
The sewer use fee for Commercial and Industrial water consumers
served by the sanitary sewer system is based on the average
monthly water consumption of the previous calendar year. The
sliding scale of the attached rate schedule applies.
COMMERCIAL AND INDUSTRIAL CONCERNS NOT CON-
SUMING CITY WATER:
Engineering surveys determine the sewer use fee for commercial
and industrial concerns served by the sanitary sewer but using
water from a source other than the city.
SPECIAL ALLOWANCES:
For consumers where at least 25% of the water consumed does not
eventually reach the sanitary sewer system, allowance is made in
determining the sewer use fee.
COMMERCIAL AND INDUSTRIAL CONCERNS CONSUMING
WATER IN ADDITION TO CITY WATER:
Engineering surveys determine the sewer use fee in cases where
water consumed from other sources exceed water purchased.irom
the city by at least 25%.
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,y,i:'-,";
If the quantity or type and character of such sewage discharged
into such system shall render it difficult to establish a fair and
equitable sewage service charge, the customer shall at his sole cost
and expense install and maintain in good operating condition
suitable meters or measuring and sampling devices of standard
type and design as required to determine the characteristics of the
sewage, at the appropriate point or points as are necessary to
properly measure the customers' sewage discharges and shall
permit the City to read meters, measuring or sampling devices,
and sewage charges for such customer shall be established in
accordance with such metering records and/or sampling devices.
OUTSIDE CITY RATES:
Outside city rates, except in cases of a special contract, are double
the minimum plus 25% additional for all in excess of the minimum.
33
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CITY OF SALINA
WATER AND SEWERAGE DEPARTMENT
Sewer Use Rates Effective Jan. 31,1962
* Inside city rates except for multiple living units offour or more in
number served by a master water meter:
First 500 Cu. Ft. or 3,750 Gals. $1.35 per month minimum.
(i1)27~ per C Cu. Ft. or 36~ per M Gals.
Next 500 Cu. Ft. or 3,750 Gals.
((122~ per C Cu. Ft. or 29.33~ per M Gals. = $1.10
Next 1,000 Cu. Ft. or 7,500 Gals.
@20~ per C Cu. Ft. or 26.66~ per M Gals. = $2.00
Next 3,000 Cu. Ft. or 22,500 Gals.
((t16~ per C Cu. Ft. or 21.33~ per M Gals. = $4.80
Next 15,000 Cu. Ft. or 112,500 Gals.
(il 12~ per C Cu. Ft. or 16~ per M Gals. = $18.00
Next 20,000 Cu. Ft. or 150,000 Gals.
((I 8~ per C Cu. Ft. or 10.66~ per M Gals. = $16.00
Next 40,000 Cu. Ft. or 300,000 Gals.
((I 6~ per C Cu. Ft. or 8~ per M Gals. = $24.00
Next 70,000 Cu. Ft. or 525,000 Gals.
(i14~ per C Cu. Ft. or 5.33~ per M Gals. = $28.00
All over 150,000 Cu. Ft. or 1,125,000 Gals.
(il 2~ per C Cu Ft. or 2.66~ per M Gals.
*Multiple living units of four or more units, served by a master
water meter, effective July 1, 1963:
First 500 Cu. Ft. or 3,750 Gals. $1.35 per month minimum.
(i127~ per C Cu. Ft. or 36~ per M Gals.
All over 500 Cu. Ft. or 3,750 Gals.
(il 22~ per C Cu. Ft. or 29.33~ per M Gals.
Outside city rates, except in cases of a special contract, are double
the minimum plus 25% additional for all in excess of the minimum.
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'.,,>M:"
The Gross Revenues produced from the water and sewer rates
at Salina, Kansas for the past five years are as follows:
WATER SEWER COMBINED WATER'
YEAR REVENUE REVENUE SEWER REVENUE
1971 $ 651,739 $372,516 $1,024,255
. 1972 630,858 384,634 1,015,492
1973 965,012 390,624 1,355,636
1974 1,003,236 366,817 1,370,530
1975 1,041,120 399,484 1,440,604
The gross water revenue has increased 6.26% since the water
rate increase on January 1, 1973. The gross sewer revenue has
increased 7.2% over the past five years. The gross water and sewer
revenue combined has increased 6.26% since the water rate in-
crease 1:1 1973.
Operational expenses for the combined water and sewerage
system (exclusive of bond retirement payments) for the past five
years are as follows:
YEAR OPERATIONAL EXPENSES
1971 $ 769,142
1972 758,226
1973 856,149
1974 1,019,942
1975 1,162,342
The operational expenses have increased 51.12% over the past
five years for a 10.2% per year increase, and 13.96% from 1974 to
1975.
Sewer Rates
Based upon the gross revenue generated from sewer charges
in 1975 in the amount of $399,484, the additional income from
sewer rate increases indicated would produce the following gross
1ncome:
Sewer Rate increased - 35% ($1.85 minimum) ....... .$539,303
Sewer Rate increased - 40% ($1.90 minimum) ........ 559,277
Sewer Rate increased - 50% ($2.00 minimum) ........ 599,226
Sewer Rate increased - 60% ($2.15 minimum) ........ 639,174
Sewer Rate increased - 70% ($2.30 minimum) ........ 679,122
Sewer Rate increased - 80% ($2.40 minimum) ........ 719,071
Sewer Rate increased - 90% ($2.55 minimum) ........ 759,019
Sewer Rate increased - 100% ($2.70 minimum) ....... 798,978
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Increase in sewer rates over the present rates would result in
the following rates:
Present
Water Sewer Increase
Consumption Rates 35% 40% 50% 60% 70% 80% 90% 100%
-- ---
0/500 $1.35 $1.85 $1.90 $2.00 $2.15 $2.30 $2.40 $2.44 $2.70
500/1,000 .22 .30 .31 .33 .35 .37 .39 .40 .44
1,000/2,000 .20 .27 .28 .30 .32 .34 .36 .38 .40
2,000/5,000 .16 .22 .23 .24 .25 .27 .29 .30 .32
5,000/20,000 .12 .17 .18 .18 .19 .20 .22 .23 .24
20,000/40,000 .08 .11 .12 .12 .13 .14 .15 .15 .16
40,000/80,000 .06 .08 .09 .09 .10 .11 .11 .12 .12
80,000/150,000 .04 .06 .06 .06 .07 .07 .08 .08 .08
All over 150,000 .02 .03 .03 .03 .04 .04 .04 .04 .04
Water Rates
Based upon the gross water revenue for the year 1975 in the amount
of$1,041,120, the additional income from water rate increases indicated
would produce the following gross income:
, Water Rate increased - 35% ........................... .$1,405,512
Water Rate increased - 40% ............................ 1,457,568
Water Rate increased - 50% ............................ 1,561,680
Water Rate increased - 60% ............................ 1,665,792
Water Rate increased -70% ............................ 1,769,904
Water Rate increased - 80% ............................ 1,874,016
Water Rate increased - 90% ............................ 1,978,120
Water Rate increased -100% ...........................2,082,240
Increase in water rates, inside and outside the city limits of Salina,
Kansas over the present rates would result in the following rates:
Residential and Commercial Inside City
Increases
Present Rates 35% 40% 50% 60% 70% 80% 90% 100%
--
First 7,000 cu. ft.
@39l1 per 100
cu. ft. ........... 5311 5411 5811 6211 6611 701l 7411 7811
Next. 28,000 cu. ft.
@2711
per 100 cu. ft. . . . . 3611 3711 401l 4311 4611 4911 5111 5411
All over 30,000 cu. ft.
@2411 per 3411
lOll cu. ft. ....... 3211 3611 3911 4111 4311 4611 4811
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"Monthly Minimum Based on Size of Meter Installed"
Present Rates
Size of Minimum Cu. Ft. Increases
Present Rates 35%
First 2,000 cu. ft.
@48.75~ per 100
cu. ft. ................. 65.80~
Meter
'ill"
%."
I"
1W'
2"
3"
4"
6"
8"
Charge
$ 2.00
3.10
3.90
6.50
7.95
14.75
77.00
110.00
125.00
Allowed 35% 40%
300 $ 2.70 $ 2.80 $
500 4.20 4.35
600 5.25 5.45
1,000 8.75 9.lO
1,lOO lO.75 11.15
2,000 19.90 20.65
25,000 103.95 107.80
30,000 148.50 154.00
30,000 168.75 175.00
50% 60% 70% 80% 90% 100%
3.00 $ 3.20 $ 3.40 $ 3.60 $ 3.80 $ 4.00
4.65 4.95 5.30 5.60 5.90 6.20
5.85 6.25 6.65 7.00 7.40 7.80
9.75 10.40 11.05 11.70 12.35 13.00
11.90 12.70 13.50 14.30 15.10 15.90
22.12 23.60 25.07 26.55 28.02 29.50
115.50 123.20 130.90 138.60 146.30 154.00
165.00 176.00 187.00 198.00 209.00 220.00
187.50 200.00 212.50 225.00 237.50 250.00
Residential and Commercial Outside City
Increases
40% 50% 60% 70% 80% 90% 100%
68.25~ 73.10~ 78.00~ 82.85~ 87.75~ 92.65~ 97.50~
Next 28,000 cu. ft.
@33.75~ per 100
cu. ft. ................. 45.55~
"
47.2M 50.60~ 54.00~ 57.35~ 60.75~ 64.lO~ 67.50~
All over 30,000 cu.
ft. @ 30.00~ per
lOO cu. ft. ............. 40.50~ 42.00~ 45.00~ 48.00~ 51.00~ 54.00~ 57.00~ 60.00~
37
(Based on 2,000 gallons)
Independence Minimum .............
Coffeyville Minimum. . . . . . . . . . . . . . . .
Newton Minimum..................
Pittsburg Minimum (Proposed) . . . . . . .
Water
$4.20
4.00
2.80
2.50
Sewer
$2.50
2.25
4.00
3.40
Total
$6.70
6.25
6.80
5.90
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VII.
COMPARATIVE WATER AND SEWER RATES
FOR CITIES IN KANSAS
The following table shows a complete breakdown of water and
sewer rates for Independence, and Coffeyville, and proposed rates
for Pittsburg, Kansas. Also shown are the minimum water and
sewer rates for the City of Newton, Kansas, and sewer rates for
Emporia, Kansas. These comparative rates are being illustrated
as Independence has a Water and Sewer Revenue Bond indebted-
ness of $2,030,000, Coffeyville has a Water Revenue Bond in-
debtedness of $3,060,000, and Newton has a Water and Sewer
Revenue Bond indebtedness of $2,310,000. Emporia is issuing
$2,500,000 in Sewer Revenue Bonds.
Independence Water Rates (In Gallons)
First 1,000 @ $3.30 = $ 3.30 .........................$ 3.30 minimum
Next 9,000 @ .90 = 8.10. . . . . . . . . '" . . . . . . . . . . ... . . . . 11.40
Next 15,000 @ .75 = 11.25 .......................... 22.65
Next 75,000 @ .70 = 52.50 .......................... 75.15
Next 900,000 @ .55 = 495.00 ........................ 570.15
All over 1,000,000 @ .50 = $500.00. . . . . . . . . . . . . . . . . . .. 1,070.15
Minimum ............
First 2,000 gallons. . . .
Next 5,000 gallons. . . .
Next 10,000 gallons ..
Next 50,000 gallons ..
Next 100,000 gallons .
Next 500,000 gallons .
Next 1,000,000 gallons
Coffeyville Water Rates (In Gallons)
First 1,000 @ $2.00 = $2.00 ..........................$ 2.00 minimum
Next 1,000 @ 2.00 = 2.00. .. . . . ... . . . . . . . . . . . . . . . . . . . . 4.00
Next 8,000 @ 1.50 = 12.00............................ 16.00
Next 40,000 @ 1.35 = 54.00 .......................... 70.00
Next 50,000 @ 1.00 = 50.00 .......................... 120.00
Next 400,000 @ .90 = 360.00 ........................ 480.00
Next 500,000 @ .75 = 375.00 ........................ 855.00
Next 1,000,000 @ .40 = 400.00 . . . . . . . . . . . . . . . . . . . . . . .. 1,255.00
Pittsburg Water Rates (In Gallons)
Present Proposed CoffeyviIle Independence
$ 2.35 $ 2.50 $ 2.00 $ 3.30
2.35 2.50 4.00 4.20
4.75 5.80 8.50 6.90
8.75 11.30 16.00 11.40
38.85 51.40 70.00 28.90
72.55 97.60 120.00 75.15
281.35 391.40 480.00 295.15
523.25 741.40 855.00 570.15
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Emporia Sewer Rates
Effective January 1, 1977, the following schedule of sewer charges
will be implemented at Emporia, Kansas:
(a) A monthly minimum service charge for all metered users in-
cluding the first two thousand (2,000) gallons of water use is
established as follows:
Meter Size Inside City Outside City
'*''' $ 3.30 $ 6.60
%," 5.50 11.00
1" 8.75 17.50
1 \4" 11.00 22.00
1 'h" 13.00 26.00
2" 19.00 38.00
3" 42.00 84.00
~ ~M ~M
6" 138.00 276.00
8" 205.00 410.00
Exception: Those single family residences with meters larger
than one (1) inch will be charged at the one (1) inch rate.
(b) Residential Metered Quantity Charge: Additional charges for
residential and educational, religious, public, and charitable
classification as defined in 19-304 above shall be based on
eighty-five per cent (85%) of metered water in excess of 2,000
gallons at the following rates:
Inside City
$0.35/1,000 gallons
Outside City
$0.70/1,000 gallons
(c) Commercial-Industrial Metered Quantity Charge: Additional
charges for all those not included above shall be based on one
hundred per cent (100%) of metered water in excess of 2,000
gallons at the following rates:
Inside City Outside City
$0.35/1,000 gallons $0.70/1,000 gallons
(d) Flat Rate Residential: All single family residence users as
defined in 19-304 above not having an approved water meter-
ing system will be charged a flat rate of$6.60 per month for use
of the wastewater collection and treatment system.
(e) Flat Rate Commercial-Industrial Users: All commercial-
industrial users as defined in 19-304 above not having an
approved water metering system will be charged a minimum
flat rate of$19.80 per month with a quantity charge based on
100% of estimated usage over 2,000 gallons as approved by the
City Manager at a rate of $0.35/1,000 gallons.
39
Cost! Cost! Cost! Cost!
Charge Gallons Cost!Gal. 5M Gal. 10M Gal. 25M Gal. 50M Gal.
$3.82 2,000 $0.0019 $7.19 $12.82 $28.65 $51.59
2.50 3,000 0.0008 3.70 6.50 12.50 22.40
2.00 2,500 0.0008 3.56 5.90 12.14 16.73
1.85 1,500 0.0012 4.00 6.55 14.37 26.37
2.00 2,250 0.0009 3.92 6.80 13.93 23.50
1.50 2,000 0.0008 3.00 5.50 13.00 21.75
2.35 2,000 0.0012 4.75 8.75 20.10 38.85
4.55 7.13 10.80 21.83 39.11
2.30 1,500 0.0015 5.56 9.36 18.16 32.83
2.50 3,000 0.0008 3.76 6.28 14.38 22.06
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WATER RATES
The following indicates water rates only for the ten largest cities in
Kansas, other than Kansas City, and also three graphs indicating
both water and sewer rates for cities in Kansas.
City
Lawrence ..........
Hutchinson....... .
Salina .............
Leavenworth ......
Manhattan ........
Emporia . . . . . . . . . . .
Pittsburg . . . .. .. .. .
Junction City . . . . . .
Topeka ............
Wichita.......... .
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VIII.
ADDITIONAL INDEBTEDNESS REQUIREMENTS
To determine annual net operating income for pro forma computation, the
following tables have been computed for Series 1961 Bonds outstanding
plus additional Water and Sewerage Bonded Indebtedness. Preliminary pro
formas have been computed for the following amounts and maturity years:
EXHIBITS AMOUNT MATURITY
Exhibit I $1,500,000 20 years
Exhibit II 2,000,000 25 years
Exhibit III 2,250,000 25 years
Exhibit IV 2,500,000 25 years
Exhibit V 2,750,000 25 years
Exhibit VI 3,000,000 25 years
1. Total Gross Interest Cost for Series 1961 and New Bonds:
Exhibit I
Series 1961 Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..$ 357,567.50
Series 1977 Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 1.514.175.00
Total Interest Cost............................. .$1,871,742.50
Exhibit II
Series 1961 Bonds...............................$ 357,567.50
Series 1977 Bonds............................... 2.619.400.00
Total Interest Cost............................. .$2,976,967.50
Exhibit III
Series 1961 Bonds...............................$ 357,567.50
Series 1977 Bonds............................... 2.619.400.00
Total Interest Cost............................. .$3,331,867.50
Exhibit IV
Series 1961 Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..$ 357,567.50
Series 1977 Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3.308.550.00
Total Interest Cost............................. .$3,666,117.50
Exhibit V
Series 1961 Bonds. . . . . .. . . . . . . . . . . . . . . . . . . . . . . ..$ 357,567.50
Series 1977 Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3.661.000.00
Total Interest Cost............................. .$4,345,167.50
Exhibit VI
Series 1961 Bonds............ .... ...... ...... ...$ 357,567.50
Series 1977 Bonds............................... 3.987.600.00
Total Interest Cost............................. .$4,345,167.50
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2. Average Annual Principal Requirements:
Series 1961 Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$182,000.00
Exhibit I - $1,500,000 ............................. 76,000.00
Exhibit II - $2,000,000 ............................ 80,000.00
Exhibit III - $2,250,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,000.00
Exhibit IV - $2,500,000 . . . . . . . . . . . . . . . . . . . . . . . . . . .. 100,000.00
Exhibit V - $2,750,000 ............................ 110,000.00
Exhibit VI - $3,000,000 . . . . . . . . . . . . . . . . . . . . . . . . . . .. 120,000.00
3. Average Annual Interest Requirements:
Series 1961 Bonds. . . . . . . . . . . . . . . . . . . . . .. . . . . . . . ...$ 35,765.75
Exhibit I - $1,500,000 ............................. 75,708.75
Exhibit II - $2,000,000 ............................ 104,776.00
Exhibit III - $2,250,000 .. . .. . .. . .. .. . .. .. .. .. .. .... 118,972.00
Exhibit IV - $2,500,000 . . . . . . . . . . . . . . . . . . . . . . . . . . .. 132,342.00
Exhibit V - $2,750,000 ............................ 146,440.00
Exhibit VI - $3,000,000 . . . . . . . . . . . . . . . . . . . . . . . . . . .. 159,504.00
4. Average Annual Principal Requirements for Series 1962 and Series
1977 Bonds:
Exhibit I ........................................ .$259,587.00
Exhibit II ........................................ 271,878.00
Exhibit III........................................ 296,074.00
Exhibit IV........................................ 319,444.00
Exhibit V ........................................ 343,543.00
Exhibit VI........................................ 366,607.00
5. Coverage Requirements for Average Annual Principal and Interest
Requirements for Series 1961 and Series 1977 Bonds:
Exhibit I
Net Income Required for a 1.60 Times Coverage...... .$415,794.00
Net Income Required for a 1.50 Times Coverage. . . . . .. 389,806.00
Net Income Required for a 1.40 Times Coverage. . . . . .. 363,819.00
Net Income Required for a 1.30 Times Coverage....... 337,832.00
Net Income Required for a 1.25 Times Coverage. . . . . .. 324,838.00
Exhibit II
Net Income Required for a 1.60 Times Coverage. . . . . . .$435,004.00
Net Income Required for a 1.50 Times Coverage. . . . . .. 407,817.00
Net Income Required for a 1.40 Times Coverage....... 380,629.00
Net Income Required for a 1.30 Times Coverage. . . . . ., 353,441.00
Net Income Required for a 1.25 Times Coverage. . . . . .. 339,842.00
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Exhibit III
Net Income Required for a 1.60 Times Coverage...... .$473,718.00
Net Income Required for a 1.50 Times Coverage....... 444,110.00
Net Income Required for a 1.40 Times Coverage....... 414.503.00
Net Income Required for a 1.30 Times Coverage. . . . . .. 384,896.00
Net Income Required for a 1.25 Times Coverage. . . . . .. 370,092.00
Exhibit IV
Net Income Required for a 1.60 Times Coverage...... .$511,110.00
Net Income Required for a 1.50 Times Coverage. . . . . .. 479,166.00
Net Income Required for a 1.40 Times Coverage....... 447,221.00
Net Income Required for a 1.30 Times Coverage....... 415,277.00
Net Income Required for a 1.25 Times Coverage. . . . . .. 399,305.00
Exhibit V
Net Income Required for a 1.60 Times Coverage. . . . . . .$549,668.00
Net Income Required for a 1.50 Times Coverage....... 515,314.00
Net Income Required for a 1.40 Times Coverage. . . . . .. 480,960.00
Net Income Required for a 1.30 Times Coverage. . . . . .. 446,605.00
Net Income Required for a 1.25 Times Coverage. . . . . .. 429,428.00
Exhibit VI
Net Income Required for a 1.60 Times Coverage. . . . . . .$586,571.00
Net Income Required for a 1.50 Times Coverage. . . . . .. 549,910.00
Net Income Required for a 1.40 Times Coverage. . . . . .. 513,249.00
Net Income Required for a 1.30 Times Coverage....... 476,891.00
Net Income Required for a 1.25 Times Coverage....... 458,258.00
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Under accepted practices of Revenue Bond financing, conditions must
be established to guarantee the marketability of additional Water and
Sewerage System Indebtedness. Net revenues, after payment of operations,
should never be less than 125% of maximum annual principal and interest
requirements of both the Series 1961 Water and Sewerage-System Revenue
Bonds now outstanding and the additional principal and interest require-
ments of any new bonds to be issued. In addition, it is preferable that such
"coverage factor" substantially exceed 125% of average annual principal
and interest requirements to establish prime security of the bonds out-
standing and the bonds to be issued.
The following "Net Operating Income" will be required to satisfy
maximum "coverage" requirements indicated:
1. Maximum Debt Service for Exhibit I (1986) . . . . . . . . . . . . .$331,090.00
Net Income Coverage Factor Net Operating Income Required
at 1.60 coverage ................. .$529,744.00
at 1.50 coverage .................. 496,605.00
at 1.40 coverage .................. 463,526.00
at 1.30 coverage .................. 430,417.00
at 1.25 coverage .................. 413,862.00
2. Maximum Debt Service for Exhibit II (1986) ........... .$373,240.00
Net Income Coverage Factor Net Operating Income Required
at 1.60 coverage ................. .$597,184.00
at 1.50 coverage .................. 559,860.00
at 1.40 coverage .................. 522,536.00
at 1.30 coverage .................. 485,212.00
at 1.25 coverage .................. 466,550.00
3. Maximum Debt Service for Exhibit III (1986) .......... .$390,390.00
Net Income Coverage Factor Net Operating Income Required
at 1.60 coverage ................. .$624,624.00
at 1.50 coverage .................. 585,585.00
at 1.40 coverage .................. 546,546.00
at 1.30 coverage.................. 507,507.00
at 1.25 coverage.................. 487,987.00
4. Maximum Debt Service for Exhibit IV (1986) .......... .$408,240.00
Net Income Coverage Factor Net Operating Income Required
at 1.60 coverage ................. .$653,184.00
at 1.50 coverage .................. 612,360.00
at 1.40 coverage .................. 571,536.00
at 1.30 coverage.................. 530,712.00
at 1.25 coverage .................. 510,300.00
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5. Maximum Debt Service for Exhibit V (1986) ........... .$427,140.00
Net Income Coverage Factor Net Operating Income Required
at 1.60 coverage ................. .$683,424.00
at 1.50 coverage .................. 640,710.00
at 1.40 coverage .................. 597,996.00
at 1.30 coverage .................. 555,282.00
at 1.25 coverage .................. 533,925.00
6. Maximum Debt Service for Exhibit VI (1986) .......... .$444,640.00
Net Income Coverage Factor Net Operating Income Required
at 1.60 coverage ................. .$711,424.00
at 1.50 coverage .................. 666,960.00
at 1.40 coverage .................. 622,960.00
at 1.30 coverage .................. 578,032.00
at 1.25 coverage .................. 555,800.00
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IX.
PROJECTION OF FUTURE
WATER AND SEWAGE SYSTEM OPERATIONS
The following projections of the Water and Sewage System
operations have been computed based upon the average increase in
gross revenues and operational expenses over the past five years.
Projections of increased revenues are based upon a 5% increase
each year, although the average has been 6%; but due to suggested
rate increases, a conservative figure of 5% is used for pro forma
purposes. A 10% increase per year is computed for operational
expenses which has been the average increase over the past five
years. Projected revenues and operating expenses for the years
1976 through 1981 are as follows:
35% Water and Sewer Rate Increase -
Projected Projected Projected
Operating Operating Net Operating
Year Revenues Expenses Income
1976 $1,612,550 $1,330,865 $281,685
1977 2,177,942. 1,463,951 713,991
1978 2,286,839 1,610,346 676,473
1979 2,401,180 1,771,380 629,800
1980 2,503,239 1,048,518 554,721
1981 2,624,400 2,143,036 485,364
40% Water and Sewer Rate Increase -
Projected Projected Projected
Operating Operating Net Operating
Year Revenues Expenses Income
1976
1977
1978
1979
1980
1981
$1,612,550
2,257,570
2,370,448
2,488,970
2,613,418
2,744,088
$1,330,865
1,463,951
1,610,346
1,771,380
1,048,518
2,143,036
$281,685
793,619
760,102
717,590
664,900
601,052
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X.
FLOW OF FUNDS
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Ordinance No. 6546 of the Series 1961 Bonds defines the
"Flow of Funds" in the handling of all System incomes and ex-
penses. The new indebtedness represents an obligation of imp res-
sive proportions and necessitates the drafting of a bond ordinance
employing the best possible financial conditions of bond issuance.
A few covenants which should be included in the new bond ordi-
nance are as follows:
a. The City should re-establish the "Water and Sewage
Fund" as originally created for the Series 1961 Bonds and
all System incomes should be deposited in such Fund;
b. First, the City should pay the actual cost of maintenance
and operation of the System;
c. Next, the City should establish a "Bond and Interest
Account for Combined Water and Sewage System Rev-
enue Bonds, Series of 1977," and make periodic transfers
to anticipate semiannual interest requirements and an-
nual principal requirements of all Water and Sewage
System indebtedness. Cognizance must be given to the
Series 1961 Bonds as such bonds will exist as a prior and
junior lien on all of the Combined Water and Sewage
System indebtedness with new bonds existing as junior
lien indebtedness.
d. Next, the City should create a "Reserve Account for Com-
bined Water and Sewage System Revenue Bonds, Series
of 1977" for the new bond issue. Preliminary analysis of
cash and invested funds on hand indicates an immediate
transfer of$200,000 for Exhibit I, $225,000 for Exhibit II,
and $245,000 for Exhibits III, IV, V, and VI. Bond Reserve
for Exhibits IV, V, and VI will be increased by monthly
transfers by transferring $25,000 in 1978 for a total Bond
Reserve of $270,000 for Exhibit IV; by transferring
$25,000 per year in the years 1978 and 1979 and $5,000 in
1980 for a total Bond Reserve of $300,000 for Exhibit V;
and by transferring $25,000 per year in the years 1978,
1979, and 1980 until a Bond Reserve of $320,000 is ac-
cumulated in Exhibit VI. Section 14 of Ordinance No.
6546 allows for excessive funds in the Bond Reserve Ac-
count for the Series 1961 Bonds to be transferred to the
Water and Sewage Fund which then can be transferred to
the Bond Reserve Account for Series 1977 Bonds, leaving
a balance and maximum reserve of $300,000 for the
Series 1961 Bonds.
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e. Next, the City should continue the "Combined Water and
Sewage System Extension Bond and Retirement Ac-
count" into which all residual incomes shall be deposited
which are not required for maintenance and operation,
debt service, or Bond Reserve transfers. The use of
surplus accumulations should be determined in anticipa-
tion of payment of enlargements and improvements to the
System either in annual amounts or through the accumu-
lation of surplus for future major improvements and to
exercise bond call authorizations.
f. 'Next, a covenant should be established that the new
bonds may be refunded, so that at any time these bonds
are refunded any new bonds to be issued at a later date
would enjoy a parity status with other outstanding Sys-
tem indebtedness.
g. Next, the City should establish "coverage" covenants
guaranteeing to maintain rates, fees, and charges which
shall produce net incomes adequate to satisfy coverage
factors agreed upon. We are recommending that a 125%
coverage factor be maintained for the new bonds.
h. Next, the City should establish "earnings tests" which
provide conditions under which additional System in-
debtedness may be issued as parity indebtedness to the
Series 1977 Bonds to be issued; included in the "earnings
tests" a section should be added to read "The average
annual net income fot two preceding years shall not be
less than 125% of the maxi num annual debt service re-
quirement for all outstanuing and contemplated addi-
tional indebtedness; provided that earnings from rate
increases implemented during the past two test years
(when certified by consulting engineers) may be
employed in determining net income availability." Also
included in the test should be the fact that all funds and
reserves are at the maximum required amounts.
1. Next, the bond ordinance should require the City to
maintain adequate insurance coverage, provide an an-
nual audit, provide that Combined Water and Sewage
System operations shall be conducted in a businesslike
manner, and provide periodic inspection and a report
made to the Governing Body as to the general physical
condition and operational procedures of the entire Com-
bined Water and Sewage System.
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J. Next, upon adoption of the ordinance, there should be
created an account to be designated "Depreciation and
Emergency and Replacement Account for Series 1977
Bonds" into which account on August 1, 1986, or as soon
thereafter as the Series 1961 Bonds are paid or cash
provision made for payment, shall be transferred
$125,000. Monies in said "Account" shall be used for the
same purposes as provided in Ordinance 6546 for Series
1961 Bonds.
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XI.
REVENUE BOND MATURITY SCHEDULES
The attached Schedules develop principal and interest re-
quirements and suggested reserve accumulations for the different
amount of bonds issued previously mentioned in this Report. Bond
principal payments have been computed to provide approximate
equal annual debt service requirements for the years 1977 through
1986 until the Series 1961 Bonds have been retired, and then
approximate equal annual debt service requirements for the
Series 1977 Bonds remaining outstanding from 1987 through
1996. The same applies for Exhibits II, III, IV, V, and VI for
approximate equal annual debt service requirements for the years
1987 through 2001.
Static incomes are employed in the years 1981 through 1996
for Exhibit I and the years 1981 through 2001 for the remaining
five exhibits. Net income in Exhibit I is 199% of average annual
debt service; in Exhibit II it is 187%; in Exhibit III it is 172%; in
Exhibit IV it is 194%; in Exhibit V itis 181%; and in Exhibit VI it is
170%.
In Revenue Bond Issues, realistic financial programming es-
tablishes "Bond Reserves" and "Maintenance Reserves" to be used
for unforeseen and emergency fiscal and operating contingencies.
In the Exhibits, we have arbitrarily employed the reserve accounts
previously mentioned; however, we feel that the existing Mainte-
nance Reserve is adequate to service the System and one will not
be maintained for the Series 1977 Bonds.
Bond Ordinances customarily permit municipalities to use
surplus accumulations for enlargement, expansion and improve-
ments of the Combined Water and Sewage System, and thus
eliminate the necessity of future additional bonds whenever possi-
ble. The Exhibits have indicated annual surplus which can be used
for annual capital improvements, and we are recommending that
the Water and Sewer rates be increased to cover not only all
System indebtedness, maintenance and operation, a Bond Re-
serve, but also to allow for annual surplus to make the particular
capital improvements.
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Utility System Revenue Bonds are customarily optional and
surplus accumulations may be used to call and prepay bond princi-
pal prior to maturity, in addition to amounts in the Bond Reserve
Account. This call factor is of importance as considerable interest
saving will result through call provisions. The Series 1961 Bond
Ordinance has a 3% call premium, and it is recommended that
Series 1977 Bonds additionally have a 3% call or a declining call
premium.
Bond principal maturity schedules (Exhibits I, II, III, IV, V,
and VI) are as follows:
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XII.
SUMMARY AND RECOMMENDATIONS
This Report has been designed to analyze and establish the
requirements necessary to service additional Water and Sewage
System Revenue Bonds, being cognizant of $1,820,000 Series of
1961 Revenue Bonds now outstanding and of the terms and condi-
tions of Bond Ordinance No. 6546 for additional Water and Sewage
System Revenue Bond Indebtedness.
A test was run to evaluate the issuance of parity or co-equal
bonds with the provisions and requirements of Ordinance No.
6546, which required a 135% coverage factor for the two fiscal
years next preceding the issuance of additional bonds for the Series
1961 Bonds and any additional indebtedness. The earnings test
shows that a 135% coverage factor is not sufficient; therefore, the
new bonds to be issued will be junior lien to the Series 1961 Water
and Sewage System Revenue Bonds; however, an improvement in
today's bond market since August will be an advantage to this
program.
From this Report, we recommend an alljustment to present
water and sewer rates to compensate for the additional debt ser-
vice requirements and surplus accumulations. We are rec-
ommending a 35% increase in both water and surplus rates for
Exhibits I, II, and III, and a 40% increase for Exhibits IV, V, and
VI. We are also recommending that the increases in rates be
implemented January 1, 1977 or as soon thereafter as possible. We
are also recommending that the Notice ofIntent for any additional
bonded indebtedness be published during the month of December
1976; and in the meantime, we will assimilate information to
submit to Moody's Investors Rating Service for both the Series
1961 Bonds and Series 1977 Bonds. Mr. Norman Gaar of Stinson,
Mag, Thomson, McEvers and Fizzell, Kansas City, Missouri, will
prepare the necessary Bond Ordinance and any additional ordi-
nances, resolutions, and notice ofintent required for this issue ifit
is the wish of the City Attorney.
Weare recommending a possible bond sale within the next
sixty (60) days ofthe writing ofthis Report; however, the amount of
bonds to be issued and the water and sewer rate structure will have
to be determined by the City Commissioners.
61
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We appreciate the patience of the City Commission and City
Administration; however, this Report is lengthy and detailed. The
improvement of the bond market has made it imperative to recom-
pute all six exhibits as the market has had at least a ',2% to %%
improvement in interest rates over the past 4 months, which is to
the definite advantage of the City of Salina, Kansas for issuing
additional junior lien bonds. By thoroughly appraising all ofthese
items and studying this Report, the Governing Body must then
determine a maturity schedule and amount of bonds to be issued,
and utility rates to be increased which best fit the needs ofthe City.
Respectfully submitted,
FIRST SECURITIES COMPANY OF KANSAS, INC.
By
~/llf~
Vice President
December, 1976