Thursday, September 15, 2011

Interesting Things from the CFPUA's CAFR

CAFR stands for Comprehensive Annual Financial Report, and it's probably the most important municipal financial document along with the budget.

I found a couple things that were interesting in the CFPUA's and thought they should be before the public, not buried in some long pdf.


The Authority currently has in excess of fifty active capital projects. During the year ending June 30, 2010 over $51 million in expenditures on capital projects were incurred.

[...]New Environmental Services Building – The Sweeny Water Treatment plant displaced the Authority’s laboratory. This $4.6 million project constructed a new lab and building adjacent to the new Nano Water Treatment Plant. Completed 2010.

[...]The Authority did receive a contribution of $1.9 million from New Hanover County in fiscal year 2010. This contribution will continue at the $1.9 million level through fiscal year 2013 and then gradually reduce over the next five years with a final contribution of $.3 million in fiscal year 2018. Except for this contribution, which accounted for 3% of total revenues in fiscal year 2010, the Authority’s operations, capital expansion program, and debt service are funded almost entirely from fees charged to our customers.

[...]Capital contributions from developers declined from $9.6 million to $8.0 million. Cash contributions included in this category in the form of impact fees were $2.3 million in fiscal year 2010, down from $2.7 million collected in 2009.

[...]The Authority assumed the long term obligations of the City of Wilmington and New Hanover County on July 1, 2008 for water and sewer related debt. At that time, the total debt assumed was $184.6 million with $67.2 million of that amount in outstanding revenue bonds.

The Authority issued $187,765,000 in revenue bonds in August 2008 to pay for water and sewer capital improvements and to refund $42 million in New Hanover County Certificates of Participation that the Authority had assumed on July 1, 2008.

[...]By the time the CFPUA's $310 in debt is retired they will have paid $209M in interest on it.  Pg. 44.
[...]Water RatesWater Fixed Rate (bi-monthly)2009: $ 21.89
2010: $ 15.20

Water Variable Rate:

0 - 9,000 gallons
2010: 2.22
2009: 1.95

9,001 - 18,000 gallons
2010: 3.36
2009: 2.95

18,001+ gallons
2010: 4.50
2009: 3.95

2010: 3.36
2009: 2.95

Average bi-monthly residential bill (4)
2010: 45.23
2009: 35.70

Sewer Rates

Sewer Fixed Rate (bi-monthly)
2010: 23.37
2009: 16.50

Sewer Variable Rate (3)
2010: 3.14
2009: 2.75

Sewer Flat Rate (4)
2010: 98.73
2009: 82.50

Average bi-monthly residential bill (5)
2010: 54.77
2009: 44.00
Folks, when you add everything up, water and sewer increased 25% from 2009 to 2010.


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