Financial Summary of Boulder Local Utility

20 year projection
Low Cost Option, Determisitic Modeling, Stranded and Acquistion set at $150M
v. July 23, 2013
2017

2018

2019

2020

2021

2022

2023

2024

2025

REVENUES ($000's):
Sale of Power: $
Other Operating: $
Total Operating Revenues: $

Average Cost (Cents/kWh):

146,188
146,188

$
$
$

9.25

173,176
173,176

$
$
$

10.88

194,901
194,901

$
$
$

12.16

203,730
203,730

$
$
$

12.60

214,405
214,405

$
$
$

13.22

224,598
224,598

$
$
$

13.77

231,237
231,237

$
$
$

14.05

237,995
237,995

$
$
$

14.34

247,652
247,652

14.86

EXPENSES ($000's)
OPERATION EXPENSES:
Power Gen. & Purch.:
Transmission:
General Adm.:
Billing:
Customer Accounts:
Metering:
Scheduling:
Distribution:
DEPRECIATION:
Other OPEX:
Total Operating Expenses:

$
$
$
$
$
$
$
$
$
$
$

(102,540)
(9,039)
(6,515)
(1,756)
(6,189)
(1,095)
(1,149)
(10,642)
(3,189)
(142,116)

$
$
$
$
$
$
$
$
$
$
$

(107,329)
(9,370)
(6,678)
(1,800)
(6,344)
(1,122)
(1,178)
(10,909)
(3,236)
(147,966)

$
$
$
$
$
$
$
$
$
$
$

(113,015)
(9,704)
(6,845)
(1,845)
(6,503)
(1,151)
(1,207)
(11,181)
(3,285)
(154,736)

$
$
$
$
$
$
$
$
$
$
$

(116,934)
(9,982)
(7,016)
(1,891)
(6,665)
(1,179)
(1,238)
(11,461)
(3,335)
(159,701)

$
$
$
$
$
$
$
$
$
$
$

(122,710)
(10,270)
(7,192)
(1,938)
(6,832)
(1,209)
(1,268)
(11,747)
(3,386)
(166,552)

$
$
$
$
$
$
$
$
$
$
$

(131,934)
(10,594)
(7,372)
(1,987)
(7,003)
(1,239)
(1,300)
(12,041)
(3,439)
(176,908)

$
$
$
$
$
$
$
$
$
$
$

(137,579)
(10,921)
(7,556)
(2,036)
(7,178)
(1,270)
(1,333)
(12,342)
(3,493)
(183,707)

$
$
$
$
$
$
$
$
$
$
$

(143,214)
(11,375)
(7,745)
(2,087)
(7,357)
(1,302)
(1,366)
(12,651)
(3,548)
(190,644)

$
$
$
$
$
$
$
$
$
$
$

(149,014)
(11,665)
(7,938)
(2,139)
(7,541)
(1,334)
(1,400)
(12,967)
(3,604)
(197,603)

Interest Income $

827

788

855

917

1,018

1,128

1,234

1,359

1,442

Funds Available for Debt Service: $

8,089

29,235

44,305

48,281

52,257

52,257

52,257

52,257

55,095

13,632

27,264

29,711

32,158

32,158

32,158

32,158

33,905

Debt Service: $
Debt Service Coverage:
Funds Available After Debt Service: $
Pmt to City Overhead (PILOT): $
Ppty Tax Reimbursement: $
Cash Flow From Operations: $
Capital Improvements: $
Contribution to Working Capital Reserve $
Net Cash Flow: $

8,089

2.14
$

(4,217) $
(2,000) $
1,871

15,603

1.63
$

(4,393) $
(2,050) $
9,160

17,040

1.63
$

18,569

1.63
$

20,099

1.63
$

20,099

1.63
$

20,099

1.63
$

20,099

1.63
$

21,191

(4,596) $
(2,101) $

(4,744) $
(2,154) $

(4,950) $
(2,208) $

(5,260) $
(2,263) $

(5,464) $
(2,319) $

(5,672) $
(2,377) $

(5,880)
(2,437)

10,343

11,671

12,941

12,576

12,315

12,049

12,873

(1,656) $
$
215 $

(1,697) $
(4,560) $
2,903 $

(1,740) $
(2,378) $
6,226 $

(1,783) $
(3,480) $
6,408 $

(1,828) $
(4,951) $
6,162 $

(1,873) $
(3,556) $
7,147 $

(1,920) $
(3,523) $
6,872 $

(1,968) $
(3,284) $
6,797 $

YEAR-END FUNDS AND RESERVES ($000'S):

Working Capital Reserve $

70,914

75,474

77,853

81,332

86,284

89,839

93,362

96,646

100,328

Net Operating Reserve $

71,130

78,592

87,196

97,084

108,198

118,900

129,296

139,377

150,233

Year-End Days Cash on Hand

186.9

198.2

210.1

226.6

242.0

250.2

261.9

271.9

(2,017)
(3,682)
7,174

282.7

2026
$
$
$

2027

257,681
257,681

$
$
$

15.38

$
$
$
$
$
$
$
$
$
$
$

(155,141)
(12,004)
(8,137)
(2,193)
(7,730)
(1,368)
(1,435)
(13,291)
(3,662)
(204,961)

2028

265,982
265,982

$
$
$

15.79

$
$
$
$
$
$
$
$
$
$
$

(162,336)
(12,371)
(8,340)
(2,248)
(7,923)
(1,402)
(1,471)
(13,623)
(3,722)
(213,436)

2029

273,266
273,266

$
$
$

16.11

$
$
$
$
$
$
$
$
$
$
$

(168,454)
(12,774)
(8,549)
(2,304)
(8,121)
(1,437)
(1,508)
(13,964)
(3,782)
(220,893)

2030

279,156
279,156

$
$
$

16.39

$
$
$
$
$
$
$
$
$
$
$

(173,182)
(13,170)
(8,762)
(2,362)
(8,324)
(1,473)
(1,546)
(14,313)
(3,845)
(226,975)

2031

282,916
282,916

$
$
$

16.53

$
$
$
$
$
$
$
$
$
$
$

(179,344)
(13,610)
(8,982)
(2,421)
(8,532)
(1,510)
(1,584)
(14,671)
(3,909)
(234,561)

2032

283,131
283,131

$
$
$

16.46

$
$
$
$
$
$
$
$
$
$
$

(183,908)
(13,970)
(9,206)
(2,481)
(8,745)
(1,547)
(1,624)
(15,038)
(3,974)
(240,493)

2033

290,781
290,781

$
$
$

16.79

$
$
$
$
$
$
$
$
$
$
$

(195,496)
(14,391)
(9,436)
(2,543)
(8,964)
(1,586)
(1,664)
(15,413)
(4,042)
(253,536)

2034

297,212
297,212

$
$
$

17.15

$
$
$
$
$
$
$
$
$
$
$

(203,332)
(14,773)
(9,672)
(2,607)
(9,188)
(1,626)
(1,706)
(15,799)
(4,110)
(262,813)

2035

305,461
305,461

$
$
$

17.52

$
$
$
$
$
$
$
$
$
$
$

(210,484)
(15,197)
(9,914)
(2,672)
(9,418)
(1,666)
(1,749)
(16,194)
(4,181)
(271,475)

2036

315,192
315,192

$
$
$

18.04

$
$
$
$
$
$
$
$
$
$
$

(217,803)
(15,670)
(10,162)
(2,739)
(9,653)
(1,708)
(1,792)
(16,599)
(4,253)
(280,379)

2037

327,413
327,413

$
$
$

18.67

$
$
$
$
$
$
$
$
$
$
$

(223,921)
(16,114)
(10,416)
(2,807)
(9,895)
(1,751)
(1,837)
(17,014)
(4,327)
(288,082)

337,356
337,356

19.17

$
$
$
$
$
$
$
$
$
$
$

(236,186)
(16,546)
(10,676)
(2,877)
(10,142)
(1,794)
(1,883)
(17,439)
(4,403)
(301,948)

1,552

1,667

1,778

1,909

1,992

2,063

2,123

2,170

2,229

2,258

2,306

2,362

57,934

57,934

57,934

57,934

54,256

48,675

43,409

40,680

40,396

41,325

45,964

42,173

35,652

35,652

35,652

35,652

33,389

29,292

25,660

23,122

22,324

23,447

24,632

23,456

1.63

1.63
$

(6,101) $
(2,498) $

(6,355) $
(2,560) $

(6,578) $
(2,624) $

(6,761) $
(2,690) $

(6,988) $
(2,757) $

13,684

13,367

13,080

12,832

11,123

$
$
$

(2,068) $
(4,325) $
7,291 $

(2,172) $
(3,054) $
7,853 $

22,282

(2,227) $
(3,694) $
6,911 $

20,868

1.66

$
$

(2,119) $
(3,653) $
7,595 $

1.63

22,282

22,282

1.63

22,282

1.63

(2,282) $
(2,807) $
6,033 $

19,383

1.69
$

(7,166) $
(2,826) $
9,391

(2,339) $
(6,433) $
619 $

17,750

1.76
$

(7,557) $
(2,897) $
7,296

(2,398) $
(4,792) $
107 $

17,557

1.81
$

(7,835) $
(2,969) $
6,754

(2,458) $
(4,251) $
45 $

18,073

1.76
$

(8,094) $
(3,043) $
6,935

(2,519) $
(4,427) $
(11) $

17,877

1.87
$

(8,361) $
(3,119) $
6,397

(2,582) $
(3,748) $
67 $

21,331

1.80
$

(8,592) $
(3,197) $
9,542

(2,647) $
(6,763) $
132 $

18,717
(9,008)
(3,277)
6,432
(2,713)
(3,918)
(199)

104,653

108,306

111,360

115,054

117,861

124,294

129,086

133,336

137,763

141,511

148,274

152,192

161,849

173,097

184,004

194,609

203,449

210,501

215,399

219,695

224,110

227,925

234,820

238,539

293.5

301.3

309.3

318.3

322.0

324.8

315.1

310.0

306.0

301.3

302.1

292.6