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HomeMy WebLinkAboutBradley Lake PMC Meeting Tuesday 03-05-2002 1Brod, Kobe le Z Gf CO 10:8 a.m. |) Call Tr Ortee A) Zu ake £) WI Refeckolt Caf Table. Canteasth Apdo ENS z iva RecemmedHim h- F¥03 BupeX fyrnt New ms (rane Byeretead en 3) Cae Me FYOI Fieerl, 17a Nem Mike Connivelborr ae Lis Cussigw Voice Vote = Unawimorsly Oyproved | ee + Act ee 7 / HT ov. usted lt, me Bae Hic 65 2 i GE Glebel Seg. ip es || _ Cortectiry Vewdoys Stew x ear i a - - Sorte — A ofa = oe ih arm Stery — ¢ ee MSurvQyp<o - — Goer pyorvstod — <paoprsing Solvtio te Grev Prellax AL — CEA held ancounteale oe oo te _ | Stee = Ae Cleeddy dnicted, a oe ee Gew Ahopie bho bron en eae an — Steve- Midifications to ee ae A ll an = aliscusstine a _ fe Coli Coley, — ai) —restitrch dee taper ork@ vked LCR ete. : a Dex Hale — —querk st pactinne re LES © Camel Lakes Stee 7 Caecaton mes _ de netling He joel 1S Hoch tle PAr ee ~ Been tetas : | Soxton i Loe, howe ashe 4 they are. oCbow OW tee PMC. 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THAT Matis Does Hoth fly Crews - de jab: HEA ca gem t os biel l ees ee eee A RATT Ue Deb doing collection os bidls i LUoyres — ag vsk foctg PES bot lwemediate ottis~ hecase ane Visie- ee Hall - hove “YY. yt wad done i swell gi; pclew - Sows Wy ts this differ i LA te THe ecase - Appin we timebiok | deb inchews — coh lore # . Stowe “Rosdue qk. Dog Wwe bare a 6 pek window” _Olere — Pm in a week 2 | Cere - pe fin +o gb bids } eM aden, Reb Pricaa. — Aewinh be ves ~ aa Bebe “eb ~ © tle o+D Cr tbe || [2554 copaleity Zoe areek le ae ee Coal ena age fll) Gas cnlfcion Ulck is cast sf [0100 am oe - Yat Ne BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING MINUTES Via Electronic Media @ AIDEA 813 W. Northern Lights Boulevard Anchorage, Alaska Tuesday, March 5, 2002 — 10:00 a.m. le CALL TO ORDER Chairman Steve Haagenson called the meeting of the Bradley Lake Hydroelectric Project Management Committee to order at 10:00 a.m. on Tuesday, March 5, 2002, from the Alaska Industrial Development and Export Authority's Board Room, Anchorage, Alaska, to conduct the business of the Committee per the agenda and public notice. 7, ROLL CALL Roll was called by Shauna Dean. The following members were present: Dave Calvert City of Seward (teleconference) Wayne Carmony Matanuska Electric Association (teleconference) Gene Bjornstad Chugach Electric Association (teleconference) Norm Story Homer Electric Association Steve Haagenson Golden Valley Electric Association Bob Day Anchorage Municipal Light & Power Art Copoulos Alaska Energy Authority 3. PUBLIC ROLL CALL Shauna Dean, Alaska Energy Authority Brenda Applegate, Alaska Energy Authority Brian Hickey, Chugach Electric Association (teleconference) Lee Thibert, Chugach Electric Association (teleconference) John Cooley, Chugach Electric Association (teleconference) Mike Cunningham, Chugach Electric Association (teleconference) Don Stead, Homer Electric Association Bob Zaharsky, Homer Electric Association Ron Saxton, AterWynne, LLP (teleconference) Doug Hall, Anchorage Municipal Light & Power Bob Price, Anchorage Municipal Light & Power 4. PUBLIC COMMENT There were no public comments. 5; AGENDA COMMENTS There were no agenda comments. 6. APPROVAL OF MEETING MINUTES — October 16, 2001 MOTION: Mr. Bjornstad moved to approve the meeting minutes of August 28, 2001. Mr. Story seconded the motion. A voice vote was taken, and the minutes were unanimously approved. Uo NEW BUSINESS A. Recommendation by Budget Subcommittee for Approval of FY03 Budget MOTION: Mr. Story moved to approve the recommendation by the Budget Subcommittee for the FY03 Budget, seconded by Mr. Bjornstad. A roll call vote was taken and the motion was unanimously approved. B. Recommendation by Budget Subcommittee for Approval of FY01 Financial Statement for O&M Funds MOTION: Mr. Bjornstad moved to approve the recommendation by the Budget Subcommittee for the FY01 Financial Statement for O&M Funds, seconded by Mr. Story. Mike Cunningham noted that Parisena Stromberg felt that the special purpose financial statements fairly present and all material respects the assets, liabilities, and surplus of the project committee operating revenue funds as of June 30, 2001 and 2000. A voice vote was taken and the motion was unanimously approved. Cc. 0&D Committee Report Mr. Copoulos noted that the O&D Committee had three projects to report on: the governor instability project, the turbine needle repair project, and the turbine runner repair project. MOTION: Mr. Story moved that by this motion, the PMC acknowledges that the utilities today within the PMC that are providing services to the PMC are doing so representing the PMC. And that further, we launch a review of our risk and our insurance coverages and set up a subcommittee to go do that and bring back to us at the next meeting a report that discusses whether or not we have adequate insurance. Mr. Bjornstad seconded the motion. After much discussion, Mr. Story withdrew his motion and Mr. Bjornstad consented to the withdrawal of the motion. MOTION: Mr. Story moved that the PMC appoint the Finance Committee to review our risk management to see where we are and report back with recommendations within the Page 2 of 3 next 30 days. Mr. Bjornstad seconded the motion. After much discussion, the motion carried. D. Executive Summary Performance Report John Cooley gave a brief overview of the handouts (attached) which show generation, lake levels, historical graphs, monthly statement from Chugach regarding energy levels compared against meters, monthly totals, percentages of output each utility takes, peak outputs and energy usage by each utility and balances. f 8. COMMITTEE COMMENTS A. Next Meeting Date - Haagenson Chair Haagenson recommended that the next regularly scheduled meeting of the committee be held at 10:00 a.m. on Thursday, April 11, 2002, at the Alaska Industrial Development and Export Authority's Board Room. 9. ADJOURNMENT There being no objection and no further business of the Committee, the meeting was recessed at 11:20 a.m. BY: ||| eZ Steve Haagefison, Chaipman ATTEST: Ce Alaska Energy Authority, Secretary Page 3 of 3 Agenda Item No. CITY OF SEWARD MATANUSKA ELEC ASSOC CHUGACH ELEC ASSOC HOMER ELEC ASSOC GOLDEN VAL ELEC ASSOC MUNI LIGHT & POWER ALASKA ENERGY AUTHORITY A=4+ OVER 51% B = AEA CONCUR With A BRADLEY PMC VOTING eee Roll Call 2 i lo 14% “eto ete he 30% [ZT 7 12% [AT 7h 1% (ZT as [| 26% air 7 cfs] — Ey C = UNANIMOUS VOTING METHOD A: Requiring four yeas with 51% of utilities, with no AEA vote: 1) Procedures for scheduling, production and dispatch of project power. 2) Establishment of procedures for use of each purchaser's water allocation (AEA assent required for license requirements). 3) Selection among alternative methods that do not involve AEA for funding required project work. VOTING METHOD B: Requiring 4 yeas with 51% of utilities and AEA concurrence: 1) Arranging operation and maintenance of project. 2) Adoption of budget of annual project costs. VOTE(93Q3/BC5272) 3) Establishment of FY estimated annual payment obligation and schedule of each purchaser. 4) Determination of annual project costs after each FY. 5) Evaluation of necessity for and scheduling of required project work. 6) Determination of appropriate amount of insurance. 7) Adoption of additional minimum funding amounts for renewal and contingency reserve fund above that required by bond resolution. 8) Selection among alternate methods that involve AEA for funding required project work. 9) Adoption or amendment of procedural committee rules (except dispute resolution). 10) Adoption of project maintenance schedules. 11) Determination of rules, procedures and accounts necessary to manage project when no bonds outstanding. 12) Evaluation and approval of optional project work and compensation for such work. 13) Application of insurance claims proceeds not governed by bond resolution. 14) Approval of procedures and any individual utility agreements relating to electric power reserves for project. 15) Approval of consultants. VOTING METHOD C: Unanimous vote by all (including AEA) VOTING METHOD D: Majority vote (including AEA) Election of Officers Agenda Item No. CITY OF SEWARD MATANUSKA ELEC ASSOC CHUGACH ELEC ASSOC HOMER ELEC ASSOC GOLDEN VAL ELEC ASSOC MUNI LIGHT & POWER ALASKA ENERGY AUTHORITY A=4+ OVER 51% DATE: BRADLEY PMC VOTING YES NO ABS YES NO ABS YES NO ABS 01% LT} CLI) 14% LTT) CL 30% [| [| [| | | | 12% CTT) CLT) 17% L Lf * ys] 26% [ [ | | | be be] aia =o aie B = AEA CONCUR With A C = UNANIMOUS D= MAJORITY VOTING METHOD A: Requiring four yeas with 51% of utilities, with no AEA vote: 1) Procedures for scheduling, production and dispatch of project power. 2) Establishment of procedures for use of each purchaser's water allocation (AEA assent required for license requirements). 3) Selection among alternative methods that do not involve AEA for funding required project work. VOTING METHOD B: Requiring 4 yeas with 51% of utilities and AEA concurrence: 1) Arranging operation and maintenance of project. 2) Adoption of budget of annual project costs. VOTE(93Q3/BC5272) 3) 4) 5) 6) 7) 8) 9) Establishment of FY estimated annual payment obligation and schedule of each purchaser. Determination of annual project costs after each FY. Evaluation of necessity for and scheduling of required project work. Determination of appropriate amount of insurance. Adoption of additional minimum funding amounts for renewal and contingency reserve fund above that required by bond resolution. Selection among alternate methods that involve AEA for funding required project work. Adoption or amendment of procedural committee rules (except dispute resolution). 10) Adoption of project maintenance schedules. 11) 12) 13) 14) 15) Determination of rules, procedures and accounts necessary to manage project when no bonds outstanding. Evaluation and approval of optional project work and compensation for such work. Application of insurance claims proceeds not governed by bond resolution. Approval of procedures and any individual utility agreements relating to electric power reserves for project. Approval of consultants. VOTING METHOD C: Unanimous vote by all (including AEA) VOTING METHOD D: Majority vote (including AEA) Election of Officers Agenda Item No. CITY OF SEWARD MATANUSKA ELEC ASSOC CHUGACH ELEC ASSOC HOMER ELEC ASSOC GOLDEN VAL ELEC ASSOC MUNI LIGHT & POWER ALASKA ENERGY AUTHORITY A=4+ OVER 51% B = AEA CONCUR With A DATES BRADLEY PMC VOTING YES NO ABS YES NO ABS YES NO ABS 01% Si Ee a |S eee | Sea 30% | 17% 26% l ae 12% i [| LJ | Pepe C = UNANIMOUS D = MAJORITY VOTING METHOD A: Requiring four yeas with 51% of utilities, with no AEA vote: 1) Procedures for scheduling, production and dispatch of project power. 2) Establishment of procedures for use of each purchaser's water allocation (AEA assent required for license requirements). 3) Selection among alternative methods that do not involve AEA for funding required project work. VOTING METHOD B: Requiring 4 yeas with 51% of utilities and AEA concurrence: 1) Arranging operation and maintenance of Project. 2) Adoption of budget of annual project costs. VOTE(93Q3/BC5272) 3) Establishment of FY estimated annual payment obligation and schedule of each purchaser. 4) Determination of annual project costs after each FY. 5) Evaluation of necessity for and scheduling of required project work. 6) Determination of appropriate amount of insurance. 7) Adoption of additional minimum funding amounts for renewal and contingency reserve fund above that required by bond resolution. 8) Selection among alternate methods that involve AEA for funding required project work. 9) Adoption or amendment of procedural committee rules (except dispute resolution). 10) Adoption of project maintenance schedules. 11) Determination of rules, procedures and accounts necessary to manage project when no bonds outstanding. 12) Evaluation and approval of optional project work and compensation for such work. 13) Application of insurance claims proceeds not governed by bond resolution. 14) Approval of procedures and any individual utility agreements relating to electric power reserves for project. 15) Approval of consultants. VOTING METHOD C: Unanimous vote by all (including AEA) VOTING METHOD D: Majority vote (including AEA) Election of Officers ALASKA INDUSTRIAL DEVELOPMENT > 4 a /= ALASKA @@m _=SENERGY AUTHORITY 813 WEST NORTHERN LIGHTS BLVD. * ANCHORAGE, ALASKA 99503 *® 907/269-3000 ¢ FAX 907/269-3044 TOLL FREE (ALASKA ONLY) 888 / 300-8534 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE REGULAR MEETING AGENDA Tuesday, March 5, 2002 — 10:00 a.m. (Via electronic media at AIDEA/AEA - 813 W. Northern Lights Boulevard) (Corner of Arctic and Northern Lights Boulevard) 1. CALL TO ORDER vat Haagenson 2. ROLL CALL (for Committee members) ye 3. PUBLIC ROLL CALL (for all others present) a 4. PUBLICCOMMENT =» 5. | AGENDACOMMENTS v~ 6. APPROVAL OF MEETING MINUTES October 16, 2001 ae te NEW BUSINESS A. Recommendation by Budget Subcommittee for Approval of FY03 Budget — B. Recommendation by Budget Subcommittee for Approval of FY01 Financial -~~ Statement for O&M Funds )-— C. O&D Committee Report ae Ad | Copoulos D. Executive Summary Performance Report —— ocr Copoulos 8. COMMITTEE COMMENTS ~~ A. Next Meeting Date .-— Haagenson 9. ADJOURNMENT + Bradley Lake PROJECT MANAGEMENT COMMITTEE MEETING Pepi aies ae) ATDEA OPP Pu (Location) PLEASE SIGN IN No. | REPRESENTING 1 re AEA 2 | Morn Story eH gaye ea M aes as aie a ee = 5 Aa Copedlos A (DEA 6 STEVE (AAC HV St) GUEA 7 | (Arencla Appbacte AWEA pied eee yLeP 9 te eee Haul Me aie 10 fie, “DAY eee ul 12 13 HI 14 15 16 7 18 19 20 21 22 92Q2\IT9884 tem FA, BRADLEY LAKE HYDROELECTRIC PROJECT Schedule A 2/1102 FY98 Fy99 FYoo Fyo1 FY2002 Fy02 ACTUALS ACTUALS ACTUALS = ACTUALS. BUDGET FORECAST BUDGET. REVENUES, EXPENSES & CHANGES IN SURPLUS REVENUES UTILITY CONTRIBUTIONS 13,210,675, 13,843,841 11,813,741 12,488,023 13,765,782 13,765,784 14,409,214 INTEREST INCOME 1,845,862 1,837,883 1,801,425, 1,759,898 1,696,000 1,786,979 1,382,409 EXCESS FROM BOND PROCEEDS, 37,008 0 0 REFUND OF COST OF ISSUANCE FROM BONDS 130,207 oO 0 SALE OF VEHICLE 1,477 0 o Oo oO oO AEA SETTLEMENT oO 0 oO 0 0 MISCELLANEOUS INCOME oO Oo 2,139 oO oO 0 15,058,014 15,681,724 13,652,174 14,380,267 15,461,782 15,552,763 15,791,623 EXPENSES. OPERATIONS 1,748,691 1,905,324 2,399,918 1,937,935 2,398,134 2,323,381 2,474,436 RENEWALS/REPLACEMENTS 23,832 25,764 Oo 574,000 574,000 1,074,000 PURCHASE NEW VEHICLE 35,000 35,000 TRANSFER TO OPERATING RESERVE 0 0 oO oO 0 BOND REFUNDING COSTS 294,124 (283,289) (10,836) oO oO 0 DEBT SERVICE (net of Capital Reserve Reductions) 13,017,785 13,746,181 11,779,859 12,639,716 12,273,450 12,273,450 12,268,075, ARBITRAGE TRANSFER 27,976 34,110 20,600 19,327, 200,000 142,219 200,000 15,112,408 15,428,090 14,189,541 14,596,978 15,480,584 15,348,050 16,016,511 CURRENT YEAR SURPLUS (DEFICIT) (54,394) 253,634 (537,367) (216,711) (18,802) 204,713 BEGINNING SURPLUS 575,012 520,618 774,252 236,885 18,802 20,174 ENDING SURPLUS (DEFICIT) BALANCE SHEET ASSETS REVENUE FUND 481,136 135,622 158,075 158,160 - - OPERATING FUND 296,292 1,099,686 997,420 326,073 - 224,887 RECEIVABLES 650 777,428 1,235,308 1,155,495 484,883 = LIABILITIES & SURPLUS LIABILITIES 256,810 461,056 918,610 464,709 - SURPLUS 520,618 774,252 236,885, 20,174 : 224,887 777,428 7,235,308 7,155,495 OTHER INFORMATION OPERATING RESERVE * 535,000 535,000 535,000 535,000 535,000 535,000 MONTHLY CONTRIBUTIONS 1,100,890 1,153,653. 984,478 1,040,669 1,180,572 1,180,572 * Required to be 20% of budgeted operating expense 2/25/02/3:21 PM, h:all\elaine\bradley2003 Bradley Budget.xls Schedule B: BRADLEY LAKE L. _2ATIONS & MAINTENANCE FY2001 FY2002 FY2003 G/L ACCOUNT BUDGET BUDGET BUDGET SUMMARY HEA O&M Contract Total 821,500 1,193,300 1,042,100 CEA Dispatch and Substation/SVC Maintenance 47,000 73,000 68,000 Other O&M 416,584 461,034 467,336 Insurance Costs 303,900 304,800 435,000 Regulatory Costs 143,500 123,000 217,500 1,732,484 2,155,134 2,229,936 Administrative Costs 260,300 243,000 244,500 1,992,784 2,398,134 2,474,436 Bond Refunding Costs 0 0 0 1,992,784 2,398,134 2,474,436 Page 1 of 1 2/25/02/3:12 PM, 2003 Bradley Budget.xls Schedule B: G/L ACCOUNT E-201-53500-301 E-201-53700-301 E-201-53800-301 E-201-53900-301 E-201-53900-302 E-201-53900-303 E-201-54000-000 E-201-54200-301 E-201-54200-302 E-201-54300-301 E-201-54300-302 E-201-54400-301 E-201-54500-301 E-201-55600-301 E-201-55600-306 E-201-55600-307 E-201-55600-308 E-201-55600-309 BRADLEY LAKE ( RATIONS & MAINTENANCE FY2001 FY2002 FY2003 BUDGET BUDGET BUDGET FERC 535 - Operation Supervision & Engineering HEA O&M Contract 78,500 80,300 94,200 78,500 80,300 94,200 FERC 537 - Hydraulic Expenses HEA O&M Contract 10,000 10,300 19,600 10,000 10,300 19,600 FERC 538 - Electric Expenses HEA O&M Contract 240,000 433,300 354,100 240,000 433,300 354,100 FERC 539 - Misc. Hydraulic Power Generation Expenses HEA O&M Contract 110,500 111,900 148,100 DIS Voice/Data Circuits (inc. space & power) 0 0 10,000 DIS 2-way Radio Circuits & radio maint. 0 0 7,000 HEA Circuits and Radio - To Bernice Lake 90,000 90,000 90,000 CEA Circuits -Bernice Lake to Anchorage 27,684 27,684 28,746 228,184 229,584 283,846 FERC 540 - Rents Bradley Lake FERC land use fees (5% increase bt 75,000 73,000 76,000 75,000 73,000 76,000 FERC 542 - Maintenance of Structures HEA O&M Contract 25,500 54,800 39,000 Boat Dock Repairs 0 0 0 25,500 54,800 39,000 FERC 543 - Maintenance of Reservoirs, Dams & Waterways HEA O&M Contract 5,000 5,500 5,100 Nuka Diversion Washout Repairs. 5,000 5,500 5,100 FERC 544 - Maintenance of Electric Plant HEA O&M Contract 254,000 400,900 284,000 254,000 400,900 284,000 FERC 545 - Maintenance of Misc. Hydraulic Plant HEA O&M Contract 92,000 90,700 92,000 92,000 90,700 92,000 FERC 556 - System Control & Load Dispatching HEA O&M Contract 6,000 5,600 6,000 NOAA Weather Service 6,400 42,500 7,040 SCS Snow Measurement 10,500 12,350 29,450 UAA Seismic monitoring and reporting 57,000 56,500 56,500 USGS Streamguaging 130,000 139,000 142,000 209,900 255,950 240,990 Page 1 of 2 2/25/02/3:13 PM, 2003 Bradley Budget.xls Schedule B: BRADLEY LAKE C. ~RATIONS & MAINTENANCE FY2001 FY2002 FY2003 G/L ACCOUNT BUDGET BUDGET BUDGET FERC 562 - Station Expenses E-201-56200-312 CEA SVC/Substation Maintenance Contract 47,000 73,000 68,000 47,000 73,000 68,000 FERC 571 - Maintenance of Overhead Lines E-201-57100-301 HEA Overhead Line Maintenance 20,000 20,000 20,600 20,000 20,000 20,600 FERC 920 - Administrative Expense E-201-92300-000 AEA Admin Fee 200,000 200,000 200,000 AEA Administrative Costs 200,000 200,000 200,000 PMC Costs E-201-92301-000 Bradley Lake Audit fees 8,500 8,500 8,500 E-201-92302-000 Bradley Lake PMC Legal 30,000 10,000 10,000 E-201-92303-000 Bradley Lake Arbitrage Report 1,800 4,500 6,000 E-201-92305-000 Bradley Lake Trustee fees 20,000 20,000 20,000 PMC Costs 60,300 43,000 44,500 TOTAL FERC 920 260,300 243,000 244,500 FERC 924 - Property Insurance E-201-92401-000 PMC Directors & Officer's Insurance 0 0 E-201-92401-000 Insurance Premiums 270,000 270,000 405,000 E-201-92401-301 Homer Electric Insurance 30,000 30,900 30,000 E-201-92402-000 RSA with Risk Management 3,900 3,900 0 303,900 304,800 435,000 FERC 928 - Regulatory Commission Expenses E-201-92800-000 FERC administrative fees 115,000 93,000 106,000 E-201-92801-000 Contractual Engineer - FERC license issues 28,500 30,000 31,500 E-201-92801-000 Spillway Seepage Water and Pressure Study 80,000 143,500 123,000 217,500 TOTAL BRADLEY LAKE BUDGET 1,992,784 2,398,134 2,474,436 Page 2 of 2 2/25/02/3:13 PM, 2003 Bradley Budget.xls BRADLEY LAKE MONTHLY UTILITY CONTRIBUTION SCHEDULE C PERCENT FY2001 FY2002 FY2003 FY2003 POWER PURCHASER SHARE TOTAL TOTAL TOTAL INCREASE CHUGACH ELECTRIC 30.4% 3,796,356 4,184,800 4,380,394 195,594 MUNICIPALITY OF ANCHORAGE 25.9% 3,234,396 3,565,335 3,731,988 166,653 AEG&T 25.8% 3,221,916 3,551,573 3,717,576 166,003 GOLDEN VALLEY ELECTRIC 16.9% 2,110,476 2,326,417 2,435,160 108,743 CITY OF SEWARD 1.0% 124,884 137,658 144,096 6,438 100.0% _ 12,488,028 13,765,783 14,409,214 643,431 PERCENT FY2001 FY2002 FY2003 FY2003 POWER PURCHASER SHARE MONTHLY MONTHLY MONTHLY | INCREASE CHUGACH ELECTRIC 30.4% 316,363 358,894 365,033 6,139 MUNICIPALITY OF ANCHORAGE 25.9% 269,533 305,768 310,999 5,231 AEG&T 25.8% 268,493 304,588 309,798 5,210 GOLDEN VALLEY ELECTRIC 16.9% 175,873 199,517 202,930 3,413 CITY OF SEWARD 1.0% 10,407 11,806 12,008 202 100.0% 1,040,669 1,180,573 1,200,768 20,195 COMPONENTS OF CHANGE IN CONTRIBUTION FY2002 ANNUAL CONTRIBUTION 13,765,783 DECREASE IN BUDGETED INTEREST EARNINGS 313,590 INCREASE IN BUDGETED O&M COSTS 76,302 DECREASE DUE TO NOT PURCHASING VEHICLE (35,000) FY03 PAYBACK FOR R&C EXPENSE (IN ADDITION TO FY02) 500,000 DECREASE IN DEBT SERVICE (5,375) DECREASE IN BUDGETED USE OF PRIOR YEAR ACCUMULATED SURPLUS (224,888) FY02 PROJECTED SURPLUS 18,802 FY2003 ANNUAL CONTRIBUTION 14,409,214 2/25/02/3:14 PM,h;all\elaine\bradley\ 2003 Bradley Budget.xls SCHEDULE D FY03 R&C Fund Payback Detail Description Funding Source $ Amount Needle Repairs R&C Fund 240,250.00 Runner Repairs R&C Fund 68,750.00 SCADA R&C Fund 77,500.00 Governor R&C Fund 187,500.00 Payback of FY02 R&C Fund Distributions $ 574,000.00 Needle Repairs R&C Fund 125,000.00 Runner Repairs R&C Fund 62,500.00 Governor R&C Fund 312,500.00 Payback of FY03 R&C Fund Distributions $ 500,000.00 Total Payback to R&C Fund $ 1,074,000.00 BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE E 2/6/02 CHANGE CHANGE FY00 FY02 FY2002 FROM FY02 FROM '02 FY2003 ACTUALS BUDGET PROJECTED BUDGET PROJECTED BUDGET FERC 535 - Operation Supervision & Engineering HEA O&M Contract 77,372 80,300 149,700 13,900 (655,500) 94,200 Other 0 0 77,372 T 80,300 149,700 13,900 (65,500) 94,200 FERC 537 - Hydraulic Expenses HEA O&M Contract 3,500 10,300 7,800 9,300 11,800 19,600 Other 0 0 0 3,500 10,300 7,800 9,300 11,800 19,600 FERC 538 - Electric Expenses HEA O&M Contract 132,712 433,300 271,200 (79,200) 82,900 354,100 132,712 433,300 271,200 (79,200) 82,900 354,100 FERC 539 - Misc. Hydraulic Power Generation Expenses HEA O&M Contract 150,291 111,900 139,200 36,200 8,900 148,100 DIS Voice/Data Circuits (inc. space & power) 216,618 0 9,189 10,000 811 10,000 DIS 2-way Radio Circuits & radio maint. 14,160 0 6,904 7,000 96 7,000 HEA Circuits and Radio - To Bernice Lake 90,000 90,000 0 0 90,000 CEA Circuits -Bernice Lake to Anchorage 27,684 28,746 1,062 0 28,746 381,069 229,584 274,039 54,262 9,807 283,846 FERC 540 - Rents Bradley Lake FERC land use fees (5% increase bt 69,933 73,000 73,000 3,000 3,000 76,000 69,933 | 73,000 73,000 3,000 3,000 76,000 FERC 542 - Maintenance of Structures HEA O&M Contract 17,209 54,800 35,700 (15,800) 3,300 39,000 Boat Dock Repairs 0 0 0 0 0 0 17,209 54,800 35,700 (15,800) 3,300 39,000 FERC 543 - Maintenance of Reservoirs, Dams & Waterways HEA O&M Contract 431 5,500 4,140 (400) 960 5,100 NUKA Diversion 235,421 0 0 0 235,852 5,500 4,140 (400) 960 5,100 FERC 544 - Maintenance of Electric Plant HEA O&M Contract 472,567 400,900 401,000 (116,900) (117,000) 284,000 HEA - Transformer Fire 0 0 0 Page 1 of 3 2/25/02/3:14 PM, 2003 Bradley Budget.xls BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE E 2/6/02 CHANGE CHANGE FY00 FY02 FY2002 FROM FY02 FROM '02 FY2003 ACTUALS BUDGET _ PROJECTED BUDGET PROJECTED BUDGET 472,567 400,900 401,000 (116,900) (117,000) 284,000 FERC 545 - Maintenance of Misc. Hydraulic Plant HEA O&M Contract 67,580 90,700 90,800 1,300 1,200 92,000 Misc. 0 0 0 0 0 0 67,580 90,700 90,800 1,300 1,200 92,000 FERC 556 - System Control & Load Dispatching HEA O&M Contract 3,658 5,600 5,600 400 400 6,000 CEA Dispatch & Software 0 0 0 0 0 NOAA Weather Service 6,400 42,500 0 (35,460) 7,040 7,040 SCS Snow Measurement 9,002 12,350 21,450 17,100 8,000 29,450 UAA Seismic monitoring 55,000 56,500 56,500 0 0 56,500 USGS Streamguaging 127,840 139,000 136,290 3,000 5,710 142,000 USGS Minimum Flow Study (12,600) 0 0 0 0 189,300 255,950 219,840 (14,960) 21,150 240,990 FERC 562 - Station Expenses CEA SVC/Substation Maintenance Contract 103,526 73,000 47,230 (5,000) 20,770 68,000 103,526 73,000 47,230 (6,000) 20,770 68,000 FERC 571 - Maintenance of Overhead Lines HEA Overhead Line Maintenance 14,670 20,000 20,000 600 600 20,600 14,670 20,000 20,000 600 600 20,600 T Page 2 of 3 2/25/02/3:14 PM, 2003 Bradley Budget.xls BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE E FERC 920 - Administrative Expense Payroll Cost for COI AEA Admin Fee Workers comp refund AEA Administrative Costs PMC Costs Bradley Lake Audit fees Bradley Lake PMC Legal Bradley Lake Arbitrage Report Miscellaneous PMC Expenses Budget, recording, courier Bradley Lake Trustee fees PMC Costs Bond Refunding Costs Costs to be reimbursed at closing Refunding Costs TOTAL FERC 920 FERC 924 - Property Insurance Insurance Premiums Homer Electric Insurance RSA with Risk Management FERC 928 - Regulatory Commission Expenses FERC administrative fees Contractual Engineer - FERC license issues Spillway Seepage Water and Pressure Study Reimb from Construction Fund (prior year) 5 Year Inspection & Follow-up TOTAL BRADLEY LAKE BUDGET YTD BUDGET 216/02 CHANGE CHANGE FY00 FY02 FY2002 FROM FY02 FROM ‘02 FY2003 ACTUALS | BUDGET PROJECTED BUDGET PROJECTED BUDGET 3,725 200,000 200,000 200,000 0 0 200,000 0 0 203,725 200,000 200,000 0 0 200,000 7,336 8,500 8,500 0 0 8,500 7,568 10,000 10,000 0 0 10,000 5,747 4,500 6,000 1,500 0 6,000 15 0 0 0 0 0 0 0 15,724 20,000 20,000 0 0 20,000 36,390 43,000 44,500 1,500 0 44,500 (10,836) 0 0 0 0 (10,836) 0 0 0 0 0} 229,279 243,000 244,500 1,500 0 244,500 262,347 270,000 325,792 135,000 79,208 405,000 32,090 30,900 27,500 (900) 2,500 30,000 3,931 3,900 0 (3,900) 0 0 298,368 304,800 353,292 130,200 81,708 435,000 83,859 93,000 101,140 13,000 4,860 106,000 12,287 30,000 30,000 1,500 1,500 31,500 80,000 80,000 80,000 0 0 0 0 0 0 0 0 96,146 123,000 131,140 94,500 86,360 217,500 2,389,083 | 2,398,134 2,323,381 76,302 151,055 | 2,474,436 Page 3 of 3 2/25/02/3:14 PM, 2003 Bradley Budget.xls BRADLEY LAKE OPERATIONS & MAINTENANCE Schedule F Budget vs Projected FY98 216/02 CHANGE FY97 REVISED FY98 Fy99 FY00 FY01 FY2002 FY2002 FY2002 FROM ACTUALS BUDGET ACTUALS ACTUALS ACTUALS ACTUALS | YTD 12/31/01 BUDGET PROJECTED BUDGET SUMMARY HEA O&M Contract Total 661,215 835,600 653,116 668,871 924,889 822,784 593,290 1,193,300 1,101,000 (92,300) CEA Substation/SVC Maintenance 144,875 37,500 29,727 23,624 103,526 42,987 13,444 73,000 47,230 (25,770) Other O&M 433,066 462,900 461,040 533,455 736,875 416,605 173,723 461,034 446,219 (14,815) 0 Insurance Costs 315,485 329,700 299,593 293,559 298,367 303,956 339,654 304,800 353,292 48,492 0 Regulatory Costs 206,675 154,500 60,290 145,621 96,147 108,850 32,644 123,000 131,140 8,140 1,761,316 1,820,200 1,503,766 1,665,130 2,159,804 1,695,182 1,152,756 2,155,134 2,078,881 (76,253) Administrative Costs 305,521 267,000 244,924 240,193 240,115 242,753 216,993 243,000 244,500 1,500 2,066,837 2,087,200 1,748,690 1,905,323 2,399,919 1,937,935 1,369,749 2,398,134 2,323,381 (74,753) Bond Refunding Costs 350,000 294,124 (283,288) (10,836) 0 0 0 0 0 2,066,837 2,437,200 2,042,814 1,622,035 2,389,083 1,937,935 1,369,749 2,398,134 2,323,381 (74,753) FERC 535 - Operation Supervision & Engineering HEA O&M Contract 99,821 120,500 76,936 66,746 77,372 79,464 70,478 80,300 149,700 69,400 Other 99,821 120,500 76,936 66,746 77,372 79,464 70,478 80,300 149,700 69,400 FERC 537 - Hydraulic Expenses HEA O&M Contract 8,916 20,000 5,341 3,709 3,500 3,500 7,800 10,300 7,800 (2,500) Other 244 1,223 0 0 8,916 20,000 5,585 4,932 3,500 3,500 7,800 10,300 7,800 (2,500) FERC 538 - Electric Expenses HEA O&M Contract 147,310 154,100 130,686 135,801 132,712 196,884 126,222 433,300 271,200 (162,100) 147,310 154,100 130,686 135,801 132,712 196,884 126,222 433,300 271,200 (162,100) FERC 539 - Misc. Hydraulic Power Generation Expi HEA O&M Contract 104,504 149,000 95,704 87,984 150,291 83,172 72,100 111,900 139,200 27,300 DIS Voice/Data Circuits (inc. space & power) 107,453 109,200 109,225 132,028 216,618 6,765 3,452 0 9,189 9,189 DIS 2-way Radio Circuits & radio maint. 24,691 39,200 22,527 28,818 14,160 128,250 0 0 6,904 6,904 HEA Circuits and Radio-To Bernice Lake 47,199 90,000 90,000 0 CEA Circuits-Bernice Lake to Anchorage 16,769 27,684 28,746 1,062 Other 1,467 0 207 0 0 0 0 238,115 297,400 227,663 248,830 381,069 218,187 139,520 229,584 274,039 44,455 FERC 540 - Rents Bradley Lake FERC land use fees (5% increase bu 55,532 61,000 72,661 71,242 69,933 69,279 68,078 73,000 73,000 0 55,532 61,000 72,661 71,242 69,933 69,279 68,078 73,000 73,000 0 FERC 542 - Maintenance of Structures Page 1 of 3 2/25/02/3:14 PM, 2003 Bradley Budget.xis BRADLEY LAKE OPERATIONS & MAINTENANCE Schedule F Budget vs Projected HEA O&M Contract Boat Dock Repairs FERC 543 - Maintenance of Reservoirs, Dams & Wz Miscellaneous Maintenance HEA O&M Contract Nuka Diversion FERC 544 - Maintenance of Electric Plant HEA O&M Contract HEA-Transformer fire repairs FERC 545 - Maintenance of Misc. Hydraulic Plant HEA O&M Contract Misc. FERC 556 - System Control & Load Dispatching HEA O&M Contract CEA Dispatch & Software NOAA Weather Service SCS Snow Measurement UAA Seismic monitoring USGS Streamguaging USGS Minimum Flow Study FERC 562 - Station Expenses CEA SVC/Substation Maintenance Contract FERC 571 - Maintenance of Overhead Lines HEA Overhead Line Maintenance FERC 920 - Administrative Expense Payroll cost for CO! AEA Admin Fee Workers comp refund AEA Administrative Costs PMC Costs Bradley Lake Audit fees Bradley Lake PMC Legal Bradley Lake Arbitrage Report Miscellaneous PMC Expenses Budget, recording, courier Bradley Lake Trustee fees PMC Costs FY98 2/6/02 CHANGE FY97 REVISED FY98 FY99 FY0O FY01 FY2002 FY2002 FY2002 FROM ACTUALS BUDGET ACTUALS ACTUALS ACTUALS ACTUALS | YTD 12/31/01 BUDGET PROJECTED BUDGET 1,195 15,000 19,394 74,643 17,209 33,652 12,379 54,800 35,700 (19,100) 1,463 0 0 0 0 0 0 0 1,195 15,000 20,857 74,643 17,209 33,652 12,379 54,800 35,700 (19,100) 431 0 4,140 4,140 4,140 0 8,000 270 3,638 0 1,339 5,500 0 (5,500) 33,928 235,421 540 0 0 0 0 8,000 270 37,566 235,852 1,879 4,140 5,500 4,140 (1,360, 221,081 261,000 244,357 220,494 472,567 356,432 255,877 400,900 401,000 100 0 0 0 221,081 261,000 244,357 220,494 472,567 356,432 255,877 400,900 401,000 100 75,794 99,000 77,603 73,776 67,580 64,467 42,834 90,700 90,800 100 82 0 760 0 0 0 0 0 0 75,876 99,000 77,603 74,536 67,580 64,467 42,834 90,700 90,800 _ 100 2,594 9,000 2,825 1,320 3,658 3,874 5,600 5,600 5,600 0 392 0 0 0 0 0 6,033 6,000 6,328 187 6,400 (6,400) 0 42,500 0 (42,500) 11,310 12,500 4,599 5,150 9,002 9,502 0 12,350 21,450 9,100 53,000 55,000 55,000 55,000 55,000 56,500 0 56,500 56,500 0 119,260 120,000 131,630 135,140 127,840 132,950 34,085 139,000 136,290 (2,710) 38,000 38,000 38,000 50,600 (12,600) 0 0 0 230,589 240,500 238,382 247,397 189,300 196,426 39,685 255,950 219,840 (36,110) 144,483 37,500 29,727 23,624 103,526 42,987 13,444 73,000 47,230 (25,770) 144,483 37,500 29,727 23,624 103,526 42,987 13,444 73,000 47,230 (25,770) 16,238 22,000 19,156 20,139 14,670 19,219 0 20,000 20,000 0 16,238 22,000 19,156 20,139 14,670 19,219 0 20,000 20,000 0 3,725 0 212,079 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 0 212,079 200,000 200,000 200,000 203,725 200,000 200,000 200,000 200,000 0 8,575 15,000 7,807 6,826 7,336 7,592 0 8,500 8,500 0 59,142 30,000 17,757 10,976 7,568 8,361 2,196 10,000 10,000 0 1,817 2,000 2,313 1,800 5,747 7,681 6,000 4,500 6,000 1,500 15 0 1,960 0 0 0 0 21,948 20,000 17,047 20,591 15,724 19,119 8,797 20,000 20,000 0 93,442 67,000 44,924 40,193 36,390 42,753 16,993 43,000 44,500 1,500 Page 2 of 3 2/25/02/3:14 PM, 2003 Bradley Budget.xls BRADLEY LAKE OPERATIONS & MAINTENANCE Schedule F Budget vs Projected Bond Refunding Costs Costs to be reimbursed at closing Refunding Costs TOTAL FERC 920 FERC 924 - Property Insurance Insurance Premiums Homer Electric Insurance RSA with Risk Management FERC 928 - Regulatory Commission Expenses FERC administrative fees Contractual Engineer - Bradley FERC Licensing Reimb from Construction Fund (prior year) 5 Year Inspection & Follow-up TOTAL BRADLEY LAKE BUDGET FY98 216/02 CHANGE FY97 REVISED FY98 FY99 FY00 FY01 FY2002 FY2002 FY2002 FROM ACTUALS | BUDGET | ACTUALS | ACTUALS | ACTUALS | ACTUALS | YTD 12/31/01 BUDGET PROJECTED BUDGET 0 100,000 294,124 (283,288) (10,836) 0 0 0 0 350,000 294,124 (283,288) (10,836) 0 0 0 0 0 305,521 617,000 539,048 (43,095) 229,279 242,753 216,993 243,000 244,500 1,500 268,035 267,000 270,257 256,209 262,347 263,549 317,966 270,000 325,792 55,792 28,225 35,000 25,462 33,476 32,090 40,407 21,688 30,900 27,500 (3,400) 19,225 19,200 3,874 3,874 3,931 0 0 3,900 0 (3,900) 315,485 329,700. 299,593 293,559 298,368 303,956 339,654 304,800 353,202 48,492 160,680 126,000 43,938 104,451 83,859 96,324 0 93,000 101,140 8,140 11,893 28,500 16,352 41,170 12,287 12,527 32,644 30,000 30,000 0 0 0 34,102 0 0 206,675 154,500 60,290 145,621 96,146 108,850 32,644 123,000 131,140 8,140 2,066,837| _2,437,200[ _2,042,814| 1,622,035] 2,380,083| —1,937,935|1,369,749| 2,308,134 2,323,381 (74,753) Page 3 of 3 2/25/02/3:14 PM, 2003 Bradley Budget.xls BRADLEY LAKE BUDGET ACTIVITY BY ACCOUNT SCHEDULE G 6/30/2001 Balance FY2002 Projected Debt Payment 7/1/01 Revenues Interest Transfers to O&M Transfers to Debt Service 01 O&M Requisitions 2002 O&M Requisitions Vehicle Purchase Renewals/Replacements Payback of R&C Fund To Excess Earnings fund Reduction in Capital Res Debt Payments 6/30/2002 Projected Balance FY2003 Budget Revenues Interest Transfers to O&M Transfers to Debt Service Payback of R&C Fund 2003 O&M Requisitions Renewals/Replacements To Excess Earnings fund Reduction in Capital Res Debt Payments 6/30/2003 Projected Balance Rev Fund O&M Fund Debt Fund Op Reserve R&C Cap Reserve Total 158,161 326,073 8,434,101 535,000 5,000,010 12,834,000 27,287,345 (8,434,100) (8,434,100) 13,765,784 13,765,784 1,786,979 131,910 - 1,918,889 (2,572,488) 2,572,488 - (12,273,450) 12,273,450 - - - (464,059) (464,059) (2,323,381) (2,323,381) - (35,000) (35,000) - (2,296,000) (2,296,000) (574,000) 574,000 - (142,219) (142,219) (12,273,450) (12,273,450) 148,767 76,121 1 535,000 3,409,920 12,834,000 17,003,809 A 22% of Annual O&M Budget 14,409,214 - 14,409,214 1,382,414 121,143 1,503,557 (2,398,320) 2,398,320 - - (12,268,075) 12,268,075 - (1,074,000) 1,074,000 - (2,474,436) - (2,474,436) - (2,000,000) - (2,000,000) (200,000) (200,000) (12,268,075) (12,268,075) 0 5 1 535,000 2,605,063 12,834,000 15,974,069 A 22% of Annual O&M Budget Page 1 of 1 2/25/02/3:14 PM, 2003 Bradley Budget.xls BRADLEY LAKE PROJECTED CASH FLOWS - 2003 Schedule | Projected Balance 6/30/02 July August tember October November December January February March April May June EY Total July 76,121 1,624 992 80,061 118,993 178,127 182,055 240,696 321,243 402,288 478,816 560,832 15,453 15,453 5 DEBT SERVICE FUND Balance Debt Service Fund 0 0 0 0 0 0 0 2,558,179 2,573,954 2,589,827 2,605,798 2,621,867 0 79,856 Interest 0 0 0 0 0 0 15,679 15,775 15,873 15,971 16,069 489 79,856 Interest transferred 0 0 (79,856) Transfers from Revenue Fund 0 0 0 0 0 0 6,134,038 0 0 0 0 6,134,038 12,268,075 Payment of Debt Service 0 0 0 0 0 (3,591,538) 0 0 0 0 (8,676,538) (12,268,075) 0 0 0 0 0 0 0 2,558,179 2,573,954 2,589,827 2,605,798 2,621,867 79,856 79,856 0 OPERATING RESERVE Balance Operating Reserve 535,000 287,626 169,229 170,273 171,323 172,379 173,442 165,226 166,245 167,270 168,302 169,340 535,000 541,227 Interest 3,299 1,774 1,044 1,050 1,056 1,063 1,070 1,019 1,025 1,031 1,038 1,044 15,513 Interest transferred (9,286) (9,286) (6,227) Transfers to Operating Fund (250,673) (120,170) 0 0 0 0 0 0 0 0 0 0 (370,843) 0 Transfer from Operating Fund 0 0 0 0 0 0 0 0 0 0 0 370,843 370,843 535,000 287,626 169,229 170,273 171,323 172,379 173,442 165,226 166,245 167,270 168,302 169,340 341,227 541,227 535,000 CAPITAL RESERVE FUND Balance Capital Reserve Fund 12,834,000 12,913,143 12,992,774 13,072,896 13,153,512 13,234,626 13,316,239 12,916,117 12,995,766 13,075,907 13,156,542 13,237,674 12,834,000 13,319,306 Interest 79,143 79,631 80,122 80,616 81,113 81,614 82,117 79,649 80,141 80,635 81,132 81,632 967,545 Transfer to Revenue Fund 0 0 Interest transferred (482,239) (482,239) (485,306) 12,834,000 12,913,143 12,992,774 13,072,896 13,153,512 13,234,626 13,316,239 12,916,117 12,995,766 13,075,907 13,156,542 13,237,674 13,319,306 13,319,306 12,834,000 RENEWAL & CONTINGENCY FUND Balance in Renewal & Contingency Fund 3,409,919 1,430,947 1,439,771 1,448,650 1,457,583 1,466,571 1,475,615 1,484,715 1,493,871 1,503,083 1,512,352 1,521,678 3,409,919 2,605,062 Transfer from Revenue Fund 1,074,000 1,074,000 Replace SCADA system (2,000,000) (2,000,000) Interest 21,028 8,824 8,879 8,933 8,988 9,044 9,100 9,156 9,212 9,269 9,326 9,384 121,143 Interest transferred 0 0 0 3,409,919 1,430,947 1,439,771 1,448,650 1,457,583 1,466,571 1,475,615 1,484,715 1,493,871 1,503,083 1,512,352 1,521,678 2,605,062 2,605,062 2,605,062 Assumptions: Amount moved to operating fund = 1/12 of O&M expenses plus contingency minus carryforward available Interest payments move from Revenue Fund to Debt Service Fund on June 1 & December 1 1/2 of annual principal payments are drawn from Revenue Fund on December 1 & June 1 Interest receipts are in July & January R&C Fund is reimbursed in 4 equal annual payments Operating Reserve Requirement increased at beginning of June to meet first month operating deficit if greater than reserve amount Page 2 of 2 2003 Bradley Budget xls, 2/25/02, 3:14 PM BRADLEY LAKE PROJECTED CASH FLOWS - 2003 Schedule | Projected Balance 6/30/02 July August tem October November December January February March April May June FY Total July 2002 BUDGET Debt Service - Principal 5,085,000 5,085,000 Debt Service - Interest 3,591,538 3,591,538 7,183,075 Total Debt Service 0 0 0 0 0 3,591,538 0 0 0 0 0 8,676,538 12,268,075 OPERATING FUND Operating Budget 526,654 321,654 121,654 162,154 142,254 197,654 135,154 121,654 121,654 126,654 121,654 375,642 2,474,436 Renewals & Replacements 0 0 0 1,074,000 1,074,000 Contingency 0% 0 0 0 0 0 0 0 0 0 0 0 0 0 TOTAL REQUIREMENTS 15,816,511 INTEREST INCOME Capital Reserve 79,143 79,631 80,122 80,616 81,113 81,614 82,117 79,649 80,141 80,635 81,132 81,632 967,545 R&C Fund 21,028 8,824 8,879 8,933 8,988 9,044 9,100 9,156 9,212 9,269 9,326 9,384 121,143 Operating Reserve 3,299 1,774 1,044 1,050 1,056 1,063 1,070 1,019 1,025 1,031 1,038 1,044 15,513 Debt Service Fund 0 0 0 0 0 0 15,679 15,775 15,873 15,971 16,069 489 79,856 103,470 90,229 90,044 90,600 91,158 91,720 107,965 105,599 106,251 106,906 107,565 92,550 1,184,057 Operating Fund 1,624 992 863 1,226 1,528 1,721 1,889 2,342 2,838 3,323 3,810 1,246 23,402 SUBTOTAL 105,094 91,221 90,908 91,826 92,686 93,442 109,854 107,941 109,089 110,229 111,375 93,796 1,207,459 Revenue Fund 10,337 16,573 22,847 29,161 35,513 41,904 14,552 19,850 26,145 32,478 38,851 813 289,025 INTEREST INCOME 115,431 107,794 113,755 120,986 128,199 135,346 124,406 127,791 135,234 _142,707 150,226 94,609 1,496,484 YTD INTEREST INCOME 115,431 223,225 336,980 457,966 586,165 721,511 845,917 973,709 1,108,943 1,251,650 1,401,876 1,496,484 INTEREST RECEIVED 726,600 721,511 1,448,111 774,974 FUND BALANCES Projected 6/30/02 REVENUE FUND Beginning Balance in Revenue Fund 148,767 1,686,611 2,704,092 3,727,847 4,757,916 5,794,336 6,837,148 2,218,051 3,238,809 4,265,861 5,299,248 6,339,006 148,767 (0) Utility Payments 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 1,200,768 14,409,214 Transfer to Debt Service - Principal (2,542,500) (2,542,500) (5,085,000) Transfer toDebt Service - Interest (3,591,538) (3,591,538) (7,183,075) To Operating Fund (199,860) (199,860) (199,860) (199,860) (199,860) (199,860) (199,860) (199,860) (199,860) (199,860) (199,860) (199,860) (2,398,320) To Renewal and Contingency Fund (1,074,000) (1,074,000) Arbitrage transfer (200,000) (200,000) From Operating Fund 0 Interest Accrued 10,337 16,573 22,847 29,161 35,513 41,904 14,552 19,850 26,145 32,478 38,851 813 289,025 Interest Accrual Reversal (156,335) (132,690) (289,025) Interest Receipts & Transfers 726,600 0 0 0 0 0 655,815 0 0 0 0 1,382,414 719,527 End of Month Balance 148,767 1,686,611 2,704,092 3,727,847 4,757,916 5,794,336 6,837,148 2,218,051 3,238,809 4,265,861 5,299,248 6,339,006 (0) (0) 719,527 OPERATING FUND Balance Operating Fund 76,121 1,624 992 80,061 118,993 178,127 182,055 240,696 321,243 402,288 478,816 560,832 76,121 15,453 Interest 1,624 992 863 1,226 1,528 1,721 1,889 2,342 2,838 3,323 3,810 1,246 23,402 Interest transferred (7,954) (7,954) (15,448) Transfers from Revenue Fund 199,860 199,860 199,860 199,860 199,860 199,860 199,860 199,860 199,860 199,860 199,860 199,860 2,398,320 0 Transfers from Operating Reserve 250,673 120,170 0 0 0 0 0 0 0 0 0 0 370,843 0 To Operating Reserve (370,843) (370,843) Transfer from R&C fund 0 0 Renewals & Replacements 0 0 0 0 0 0 0 0 0 0 0 0 0 Operating Requistions (526,654) (321,654) (121,654) (162,154) (142,254) (197,654) (135,154) (121,654) (121,654) (126,654) (121,654) (375,642) (2,474,436) 0 Page 1 of 2 2003 Bradley Budget.xls, 2/25/02, 3:14 PM BRADLEY LAKE PROJECTED CASH FLOWS - 2002 Schedule H Projected Balance 6/30/01 July August September October November December January February March April May June EY Total July Operating Requistions 0 (200,000) (512,000) (386,000) 0 0 (281,573) (281,573) (281,573) (281,573) (281,573) (281,573) (2,787,440) 326,073 522,258 519,036 202,832 11,066 237,592 465,514 396,938 343,401 289,534 235,335 180,802 90,932 90,932 76,121 DEBT SERVICE FUND Balance Debt Service Fund 0 0 0 0 0 0 0 2,427,377 2,442,346 2,457,407 2,472,561 2,487,809 0 75,773 Interest 0 0 0 0 0 0 14,877 14,969 15,061 15,154 15,247 464 75,773 Interest transferred 0 0 (75,773) Transfer from R&C fund 0 Transfer from Capital Reserve Fund 0 Transfers from Revenue Fund 0 0 0 0 0 0 6,136,725 0 0 0 0 6,136,725 12,273,450 Payment of Debt Service 0 0 0 0 0 (3,724,225) 0) 0 0 0 (8,549,225) _(12,273,450) 0 0 0 0 0 0 0 2,427,377 2,442,346 2,457,407 2,472,561 2,487,809 75,773 75,773 (0) OPERATING RESERVE Balance Operating Reserve 535,000 538,299 541,619 544,959 548,319 551,701 555,103 538,423 541,743 545,084 548,446 551,828 535,000 555,231 Interest 3,299 3,320 3,340 3,361 3,381 3,402 3,423 3,320 3,341 3,361 3,382 3,403 40,333 Interest transferred (20,103) (20,103) (20,231) Transfers to Operating Fund 0 0 0 0 0 0 0 0 0 0 0 0 0 Transfer from Operating Fund 0 0 0 0 0 0 0 0 o oO 0 0 0 535,000 538,299 541,619 344,959 548,319 551,701 555,103 538,423 541,743 545,084 548,446 551,828 555,231 555,231 535,000 CAPITAL RESERVE FUND Balance Capital Reserve Fund 12,834,000 12,913,143 12,992,774 13,072,896 13,153,512 13,234,626 13,316,239 12,916,117 12,995,766 13,075,907 13,156,542 13,237,674 12,834,000 13,319,306 Reduction on Capital Reserve 0 Interest 79,143 79,631 80,122 80,616 81,113 81,614 82,117 79,649 80,141 80,635 81,132 81,632 967,545 Interest transferred (482,239) (482,239) _ (485,306) 12,834,000 12,913,143 12,992,774 13,072,896 13,153,512 13,234,626 13,316,239 12,916,117 12,995,766 13,075,907 13,156,542 13,237,674 13,319,306 13,319,306 12,834,000 RENEWAL & CONTINGENCY FUND Balance in Renewal & Contingency Fund 5,000,009 5,030,842 5,061,866 5,093,081 5,124,488 5,156,089 5,187,885 5,032,001 2,767,032 2,784,095 2,801,264 2,818,538 5,000,009 3,409,919 Interest 30,833 31,024 31,215 31,407 31,601 31,796 31,992 31,031 17,063 17,169 17,274 17,381 319,786 Transfer from Revenue Fund 574,000 574,000 Capital Repairs/Maintenance 0 (2,296,000) 0 (2,296,000) Interest transferred (187,876) (187,876) 0 5,000,009 5,030,842 5,061,866 5,093,081 5,124,488 5,156,089 5,187,885 5,032,001 2,767,032 2,784,095 2,801,264 2,818,538 3,409,919 3,409,919 3,409,919 Assumptions: Utility Payment = 1/12 of O&M+Contingency+Debt Service minus 1/12 interest eamed on all funds, rounded ‘Amount moved to operating fund = 1/12 of O&M expenses plus contingency minus carryforward available Interest payments move from Revenue Fund to Debt Service Fund on June 1 & December 1 1/2 of annual principal payments are drawn from Revenue Fund on December 1 & June 1 Interest receipts are in July & January R&C Fund is reimbursed in 4 equal annual payments ‘When fund drops below requirement ($5million), interest remains in the fund Operating Reserve Requirement increased at beginning of June to meet first month operating deficit if greater than reserve amount Page 2 of 2 2003 Bradley Budget.xls, 2/25/02, 3:14 PM BRADLEY LAKE PROJECTED CASH FLOWS - 2002 Schedule H Projected Balance 6/30/01 July August September October November December January February March April May June FY Total July 2002 BUDGET Debt Service - Principal 4,825,000 4,825,000 Debt Service - Interest 3,724,225 0 3,724,225 7,448,450 Total Debt Service 0 0 0 0 0 3,724,225 0 0 0 0 0 8,549,225 12,273,450 OPERATING FUND Operating Budget 0 200,000 512,000 386,000 0 0 281,573.34 281,573 281,573 281,573 281,573 281,573 2,787,440 Renewals & Replacements 0 0 0 574,000 574,000 Purchase New Vehicle 0 0 0 0 0 0 0 0 0 0 0 35,000 35,000 TOTAL REQUIREMENTS = 15,669,890 INTEREST INCOME Capital Reserve 79,143 79,631 80,122 80,616 81,113 81,614 82,117 79,649 80,141 80,635 81,132 81,632 967,545 R&C Fund 30,833 31,024 31,215 31,407 31,601 31,796 31,992 31,031 17,063 17,169 17,274 17,381 319,786 Operating Reserve 3,299 3,320 3,340 3,361 3,381 3,402 3,423 3,320 3,341 3,361 3,382 3,403 40,333 Debt Service Fund 0 0 0 0 0 0 14,877 14,969 15,061 15,154 15,247 464 75,773 113,276 113,974 114,677 115,384 116,096 116,812 132,409 128,969 115,606 116,319 117,036 102,881 1,403,437 Operating Fund 3,201 3,794 2,812 1,251 1,456 2,853 3,296 2,968 2,637 2,305 1,971 1,635 30,178 SUBTOTAL 116,476 117,768 117,489 116,635 117,552 119,665 135,705 131,937 118,243 118,624 119,007 104,515 1,433,615 Revenue Fund 12,168 16,838 22,413 28,023 34,088 40,191 13,787 18,816 24,824 30,870 36,952 5,229 284,200 INTEREST INCOME 128,644 134,606 139,902 144.658 151,640 159,855 149.491 150,753 143,068 7 149.494 155,959 109,745 1,717,815 YTD INTEREST INCOME 128,644 263,250 403,152 547,810 699,450 859,306 1,008,797 1,159,550 1,302,618 1,452,111 1,608,071 1,717,815 INTEREST RECEIVED 927,674 859,306 1,786,979 858,510 FUND BALANCES: 6/30/01 REVENUE FUND Beginning Balance in Revenue Fund 158,160 1,843,101 2,747,256 3,656,988 4,572,329 5,561,920 6,557,614 2,095,763 3,070,083 4,050,410 5,036,783 6,029,238 158,160 148,767 Utility Payments 1,080,302 1,080,302 1,080,302 1,080,302 1,180,572 1,180,572 1,180,572 1,180,572 1,180,572 1,180,572 1,180,572 1,180,572 13,765,784 Transfer to Debt Service - Principal (2,412,500) (2,412,500) (4,825,000) Transfer toDebt Service - Interest 0 (3,724,225) 0 (3,724,225) (7,448,450) (12,273,450) To Operating Fund (192,984) (192,984) (192,984) (192,984) (225,069) (225,069) (225,069) (225,069) (225,069) (225,069) (225,069) (225,069) (2,572,488) Reimbursement of refunding costs 0 0 Transfer to R&C Fund (574,000) (574,000) Arbitrage transfer (142,219) (142,219) Reduction on Capital Reserve 0 0 Interest Accrued 12,168 16,838 22,413 28,023 34,088 40,191 13,787 18,816 24,824 30,870 36,952 5,229 284,200 Interest Accrual Reversal (153,721) (130,479) (284,200) Interest Receipts & Transfers 927,674 0 0 0 0 0 859,306 0 0 0 0 1,786,979 726,600 End of Month Balance 158,160 1,843,101 2,747,256 3,656,988 4,572,329 5,561,920 6,557,614 2,095,763 3,070,083 4,050,410 5,036,783 6,029,238 148,767 148,767 (11,398,084) OPERATING FUND Balance Operating Fund 326,073 522,258 519,036 202,832 11,066 237,592 465,514 396,938 343,401 289,534 235,335 180,802 326,073 90,932 Interest 3,201 3,794 2,812 1,251 1,456 2,853 3,296 2,968 2,637 2,305 1,971 1,635 30,178 Interest transferred (15,367) (15,367) (14,811) Transfers from Revenue Fund 192,984 192,984 192,984 192,984 225,069 225,069 225,069 225,069 225,069 225,069 225,069 225,069 2,572,488 0 Transfers from Operating Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 To Operating Reserve 0 0 Purchase of Vehicle 0 0 0 0 0 0 0 0 0 0 0 (35,000) (35,000) Page 1 of 2 2003 Bradley Budget.xls, 2/25/02, 3:14 PM