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Home My WebLink About2017-03-21 - Board of Directors Meeting Agenda Packetra Linda Water District AGENDA YORBA LINDA WATER DISTRICT BOARD OF DIRECTORS WORKSHOP MEETING Tuesday, March 21, 2017, 4:00 PM 1717 E Miraloma Ave, Placentia CA 92870 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL J. Wayne Miller, President Al Nederhood, Vice President Andrew J. Hall, Director Phil Hawkins, Director Brooke Jones, Director 4. PUBLIC COMMENTS Any individual wishing to address the Board is requested to identify themselves and state the matter on which they wish to comment. If the matter is on the agenda, the Board will recognize the individual for their comment when the item is considered. No action will be taken on matters not listed on the agenda. Comments are limited to matters of public interest and matters within the jurisdiction of the Water District. Comments are limited to three minutes. 5. DISCUSSION ITEMS This portion of the agenda is for matters that cannot reasonably be expected to be concluded by action of the Board of Directors at the meeting, such as technical presentations, drafts of proposed policies, or similar items for which staff is seeking the advice and counsel of the Board of Directors. Time permitting, it is generally in the District's interest to discuss these more complex matters at one meeting and consider formal action at another meeting. This portion of the agenda may also include items for information only. 5.1. 5 -Year Capital Improvement Plan 5.2. Annual Review of Financial Reserves Policy 6. ADJOURNMENT 6.1. The next Regular Board of Directors Meeting will be held Tuesday, March 28, 2017. Closed Session (if necessary) will begin at 5:30 p.m. and regular business at 6:30 p.m. Items Distributed to the Board Less Than 72 Hours Prior to the Meeting Pursuant to Government Code section 54957.5, non-exempt public records that relate to open session agenda items and are distributed to a majority of the Board less than seventy-two (72) hours prior to the meeting will be available for public inspection in the lobby of the District's business office located at 1717 E. Miraloma Avenue, Placentia, CA 92870, during regular business hours. When practical, these public records will also be made available on the District's internet website accessible at http://www.ylwd.com/. Accommodations for the Disabled Any person may make a request for a disability -related modification or accommodation needed for that person to be able to participate in the public meeting by telephoning the Executive Secretary at 714-701-3020, or writing to Yorba Linda Water District, P.O. Box 309, Yorba Linda, CA 92885-0309. Requests must specify the nature of the disability and the type of accommodation requested. A telephone number or other contact information should be included so the District staff may discuss appropriate arrangements. Persons requesting a disability -related accommodation should make the request with adequate time before the meeting for the District to provide the requested accommodation. AGENDA REPORT Meeting Date: March 21, 2017 Subject: 5 -Year Capital Improvement Plan ATTACHMENTS: Name: Description ITEM NO. 5.1 Type: Backup Material Distributed Less Than 72 Hours Prior to Budget Presentation A.pdf Backup Material the Meeting Yorba Linda aim waver vlisvrl ct Backup Material Distributed Less Than 72 Hours Prior to the Meeting -�`:�:.rcr �-.• •• -.. ::�>,b +- `- gym' � -� Budget Workshop #1 FY 2017/18 Presented By: Marc Marcantonio, General Manager Steve Conklin, Engineering Manager Delia Lugo, Finance Manager Kelly McCann, Senior Accountant Cindy Botts, Management Analyst Marc -� y�s�`�!� �. � �: �, � arm_ • --. +--� � 1� s Capital Improvemen Program Elements of the District's Or 1. Construction_ Pr cts, • `-- ___ ��14y, �a�abilit�r. Reliability x..increaseA : -Proposed in 2005 Water Master Plan -Board-approved and 2008 COP to Maximize Funded in the Groundwater Use -New reservoirs, booster stations, wells, water & sewer lines -Last piece to maximize groundwate delivery: Fairmont Booster Station z. Elements of the District's CIP Project to Re- Opite Rsf urbi s,h -How are Facilities Identified for R&R • Asset Management Plan (prepared in 2010) • Staff observations and identification of failing facilities • Reports of deficient flow or water pressure — District- prepared Project List • "Ugly List" Comprehensive list of projects for consideration and mitigation over the next 10 years. Elements of the District's CIP hicle raV _ -Value of $5,000+ -Scheduled Vehicle Replacements • Fleet size: 48 vehicles -Other large, capital equ (generators, trailers, port *Total count: 16 items ipment able pumps) -� y�s�`�!� �. _ � �: �, � arm_ • --. ,�-+--� � 1� s �''� �'d" _ -- - - t -r . t�� _ �� "y=• : �`~ etc_ =�� . _ �/ .�yy+� Summary of YLWD 2010 Asset Inventory and Risk Assessment Above Ground Assets - Number & Type of Facilities Reservoirs 14 Sewer Lift St ions '2 T \y Hells Booster Connec�ns 9 Pump Stations 4 12 4k Interconnectio 'k,- . IN Water Main Installed by Year (feet) 165,173 604,106 <1950 or (blank) ■ 1970-1979 ■ 1980-1989 Sewer Main Installed by Year (feet) *62,189 R w A 2,512 =' 144,907 309,515 <1950 or (blank) Risk Assessment Determines Asset R&R Priorities Risk = Vulnerab_ ' '-, �CriticalitY - 4- 2. Vulnerabi ity: Lik�rh d of asset failure r - Criteria aligned with asset condition r attributes an d/o a bu es (e.g. age) _ Probability of failure ILI 3. Criticality: Consequence of asset failure Likelihood Criteria aligned with level of service goals Parameters of public health and safety, effect on customers, environment, & cf L -7 i77 - cost - -� y�s�`�!� �. _ � �: �, � arm_ • --. ,�-+--� � 1� s �''� �'d" _ -- - - t -r . t�� _ �� "y=• : �`~ etc_ =�� . _ �/ .�yy+� Example Asset Management Analy Above -Ground AMP Analysis Example ;fid Chko- nerbtgts Above -Ground AMP Analysis Example Richfield Chlorin 7�5r- � gators 200 - - Condition - 3 - Original Useful Life - 10 years - Remaining Useful Life - 3 years (2013) - Vulnerability Rating - 0.125 - Criticality Rating - 6.7 • Health & Safety - 7 x 300 • Financial - 4 x 15% • Environmental - 4 x 250 • Service Delivery - 10 x 300 - Overall Risk Rating -0.125x 6.7 = 0.8375 2009 Est. Total Replacement Project Cost - $88,000 Currently Scheduled for Replacement in FY 2017/18 I 2010 Asset Management Plan - System Replacement Costs Tulle E S.4 S Li m mu ry of Val ue f or Ab ovo- an d Below -Ground Assets Asset Maiiagaident Plan Yo rba Linda Water District Syste M value Fater Above -G round s'I21.575.000 Fater Below -Ground S331,996,000 S u btotul $45395719000 S-n'Nor Abo-ve-G round s250_000 S senor Be low-rou n d 5205,853.000 S u btotul $206' 103 x000 Total of A] I Assetsr C1659,674,00 Note (1) Estimated replacement costs are presented in 2009 dollars at the 20-uii EN R_ or 9642. Those -costs i n nludo direct and inn i rest post factors to est project cost to replace a n asset ire- Iii nd_ Costs a r& p repnred in acco rdan Intemationa I Class 4 esti mates_ with an expecte d a ccuracy rang a of -30' April 2010 - FINAL uN �5sdk�Uu�u—errs'ienL�YLYIUU�:�:ti�ei�xmdee�E�acwa * I n 2009 dollars J 2010 Asset Management Plan - 2017 Estimate System Replacement Costs iCost Summary for Above -Ground Assets ■P" %Vate r Seo er 2013 1361833.334 2-31.377 2014 140p 9 3 Sr 746 2S9 r Sig PWM 145,165,908 298,513 137,115,111 141 2295 6.4 1451465,421 Cost Surnmary for Below -Ground A55etS Yeo r, 2013 .2014 2015 Water 373..6 6.4r423 384..874..356 396r42Dr596 S e 4e� e r 23Ir699 r 3 65 23 8..640.. 046 245r799r247 60.5 r 3.5 3 r 799 623 r.514r40 2 Total (Water 0nlyAssets) Total (Sewer Only Assets) 2p 219 r 934 .541.5 g7r494 246109 7r 760 PW60 149,521,915 307,459 149,8291 384 2016 253rl73r225 .5.57r935r119 2017 1.5410071573 3 161 693 154, 3 24,265 2017 42015 52r 600 2601 76 8.422 1,3311022 .574,5701173 261,035.'_-_- 787.r 695 61,035. 7871695 r 2.5.5 Slip 31.51812 :33 5165 5 r 2:37 Assumes a 3% annual increase in construction- related costs Annual R&R Funding Recommendation Scenarios J Table ES,5 Water Fund7ng Scenarios Asset Management Plan Y c rba Li nda Water a i strict Annual Funding TataI Replacement Cost During Planning Horizon Contribution Po rind Short -Temp (10 Years) QLI�million S 14.3 mil I ion Medium -Term (25 Years) rs) $1. 5 million S30. 9 mil I ion Long -Term (50 Years) $6_'l million $308 m i Iiian Table ES.6 Sewer Fu iiding Scenarios Asset Management Plan Ya rba Linda Water District Annual Fund inTotal Replacemerrt Cost During ontribution�j Planning Horizon Contribution �j Period Sh ort -Term (10 Years) $0 $25,000 Medium -Term (30 Years) rs) �� $7.1 mill -ion Long -Term (50 Years) $275.000 $13.8 mil I ion Note: (1) contribution shown is in add -Ion to the S1 per month per customer fes. Highlighted recommendations based on condition of system in 2010, in 2009 dollars Completed Rehabilitation & Restoration Projects (2009-2016) _ACL R&R Project Name - Description Final Cast ($) Lakeview Sewer Lift Station Rehabilitation 140,000 Wellfield Optimization and Rehabilitation $ 160,000 Yorba Linda Blvd. Valve Replacement $ 65,000 Vista Del Verde Valve Replacement $ 295,000 Ohio St. Oriente Dr. Pipeline Replacement $ 1,409,000 2010 Waterline Replacement Project, Ph. I, Plumasa Dr. 665,000 PRS Upgrade Phase I; Camino de Bryant, Van Buren, Jefferson & Timber Ridge 680,000 Village Center Dr. Valve Replacement 16,000 2012 Waterline Replacement: Richfield Rd., Hidden Hills Rd., Access Rd./Catalina Ct., S. OhioSt., Sunwood Ln. PRS, Cesthill Dr. PRS $ 1,517,000 Beech Ave. Pipeline Repair $ 40,000 Zone Reconfiguration; San Antonio PRS;YL Blvd., Las Palomas & Vista Del Mar Pipeline $ 1,570,000 Elk Mountain Surge Tank Replacement $ 80,000 Deville Dr. Waterline Extension $ 45,000 Richfield Gate Modifications $ 32,000 2015 Sewer CIPP $ 84,000 2016 Sewer CIPP 245,000 GrandTata I..................................,........,........,.................................................................................. 7,052,000 11 X1111= . n --n re Remaining Useful Life of Sewer Pipelines Remaining Useful Life 5 Year CIP Projections 6 vhff�-� See CIP Table Handout Water Capital Reserve/Investment Acct Balance 2/28/2017 Less Minimum Water Capital Reserve Requirement Water Capital Funds Available for Use at 2/28/2017 Water Capital Funds Available for Use A S & W Well Project (Well No. 22) B Lakeview Grade Separation C Fairmont BPS Upgrade $16,414,896 $1,820,000 $14,594,896 3 ----Total CIP Budeet as Approved ----------\ 5 Year CIP BUdeet For Expenditures for Approved Proiects $ Recommended $ $ Total Projected $ 86,265 $ 1,023,735 $ 90,000 $ 1,300,000 $ $ $ $ - $ $ $ $ 5 Year CIP Budget Revised 5 Year $ $ FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22 - $ FY 22/23 FY 23/24 FY 24/25 FY 25/26 FY 26/27 FY 27/28 FY 28/29 Budget For FY g Adjustments to J CIP Budget for g CIP Expenses Budgeted CIP g Budgeted CIP g Budgeted CIP g Budgeted CIP g Budgeted CIP g 3,886,000 $ Budgeted CIP g Budgeted CIP g Budgeted CIP g Budgeted CIP Budgeted CIP g Budgeted CIP Budgeted CIP g 2016/17 Listed CIP FY 2017/18 Thru FYE June Expenditures Expenditures Expenditures Expenditures Expenditures $ Expenditures Expenditures Expenditures Expenditures Expenditures Expenditures Expenditures $ Budgets $ 2017 $ 200,000 $ $ $ $ $ $ $ $ $ $ $ $ 2,500,000 $ $ 2,500,000 $ 86,265 $ 1,023,735 $ 90,000 $ 1,300,000 $ $ $ $ - $ $ $ $ $ $ 662,444 $ $ 662,444 $ 662,444 $ - $ - $ - $ $ $ $ $ $ $ $ $ $ 7,830,005 $ 300,000 $ 8,130,005 $ 2,234,181 $ 3,886,000 $ 2,009,824 $ - $ $ $ $ $ $ $ $ $ Subtotal $ 10,992,449 $ 300,000 $ 11,292,449 $ 2,982,890 $ 4,909,735 $ 2,099,824 $ 1,300,000 $ $ $ $ $ $ $ $ $ Rehabilitation & Restoration D Timber Ridge BPS Rehabilitation E Lakeview Booster Piping F PRS Rehabilitation Phase 2 (Box Canyon) G Richfield Chlorination System H Well 20 On -Site Chlorine Generation System Chlorination System at CDB and HH Reservoirs J North Palm Avenue Pipeline K Susana, Bryant & John Bixby Pipelines L Replace old Cast Iron Pipelines (1920s to 1940s) M Camino Verde/South Ohio St Pipeline N Imperial Hwy Pipeline O South Ohio St Pipeline P Rose Drive Pipeline Q San Antonio Pipeline R Valve Replacement inside Dist Reservoirs (10 valves; S PRS Rehabilitation Phase 3 T Annual R&R Water Investment U Annual R&R Sewer Investment $ 900,000 $ $ 900,000 $ $ 90,000 $ 810,000 $ $ $ $ $ $ $ $ $ $ $ 154,000 $ $ 154,000 $ $ 38,500 $ 115,500 $ $ $ $ $ $ $ $ $ $ $ 726,000 $ $ 726,000 $ 26,000 $ 700,000 $ - $ $ $ $ $ $ $ $ $ $ $ - $ 250,000 $ 250,000 $ - $ 250,000 $ $ $ $ $ $ $ $ $ $ $ $ $ 200,000 $ 200,000 $ $ 200,000 $ $ $ $ $ $ $ $ $ $ $ $ $ 40,000 $ 40,000 $ $ 40,000 $ $ $ $ $ $ $ $ $ $ $ $ $ 360,000 $ 360,000 $ $ 360,000 $ $ $ $ $ $ $ $ $ $ $ $ $ 900,000 $ 900,000 $ $ 900,000 $ $ $ $ $ $ $ $ $ $ $ $ $ 720,000 $ 720,000 $ $ - $ 720,000 $ $ $ $ $ $ $ $ $ $ $ $ 300,000 $ 300,000 $ $ $ 300,000 $ $ $ $ $ $ $ $ $ $ $ $ 600,000 $ 600,000 $ $ $ - $ 600,000 $ $ $ $ $ $ $ $ $ $ $ 288,000 $ 288,000 $ $ $ $ 288,000 $ $ $ $ $ $ $ $ $ $ $ 600,000 $ 600,000 $ $ $ $ 600,000 $ $ $ $ $ $ $ $ $ $ $ 480,000 $ 480,000 $ $ $ $ 480,000 $ $ $ $ $ $ $ $ $ $ $ 120,000 $ 120,000 $ $ $ $ - $ 120,000 $ $ $ $ $ $ $ $ $ $ 900,000 $ 900,000 $ $ $ $ $ 900,000 $ $ $ $ $ $ $ $ - $ 2,138,585 $ 861,415 $ 3,000,000 $ $ $ $ $ 1,000,000 $ 2,000,000 $ 2,000,000 $ 2,000,000 $ 2,000,000 $ 2,000,000 $ 2,000,000 $ 2,000,000 $ 2,000,000 $ - $ 960,000 $ 960,000 $ $ 160,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 $ 200,000 R & R Subtotal $ 3,918,585 $ 7,579,415 $ 11,498,000 $ 26,000 $ 2,738,500 $ 2,145,500 $ 2,168,000 $ 2,220,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 Vehicle and Capital Equipment Replacement - Capital Outlay 2,306,789 Total Project 2,306,789 Adjusted Total otal Projected TCIP Y Richfield Road Pipeline $ 1,450,000 Projects Completed in FY 2016/17 Budget Over/(Under) CIP Budget FY Expenses 1,240,000 $ $ (Single Year Budget Forecast) 2015/16 Budget 2016/17 Thru FYE June $ $ 4,996,789 $ 4,400,935 2017 V Vehicle & Capital Equipment Replacement - Sewer $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ $ $ $ $ $ W Vehicle & Capital Equipment Replacement - Water $ 963,000 $ 1,010,101 $ 1,973,101 $ 777,101 $ 292,000 $ 260,000 $ 220,000 $ 262,000 $ 162,000 $ 595,000 $ $ $ $ $ $ - Vehicle & Capital Equipment Subtotal $ 963,000 $ 1,010,101 $ 1,973,101 $ 777,101 $ 292,000 $ 260,000 $ 220,000 $ 262,000 $ 162,000 $ 595,000 $ $ $ $ $ $ - Subtotal $ 15,874,034 $ 8,889,516 $ 24,763,550 $ 3,785,991 $ 7,940,235 $ 4,505,324 $ 3,688,000 $ 2,482,000 $ 2,362,000 $ 2,795,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 $ 2,200,000 x S & W Well Project (Well No. 21) $ 2,306,789 Total Project 2,306,789 Adjusted Total otal Projected TCIP Y Richfield Road Pipeline $ 1,450,000 Projects Completed in FY 2016/17 Budget Over/(Under) CIP Budget FY Expenses 1,240,000 $ $ 1,240,000 2015/16 Budget 2016/17 Thru FYE June $ $ 4,996,789 $ 4,400,935 2017 x S & W Well Project (Well No. 21) $ 2,306,789 $ $ 2,306,789 $ 2,175,846 Y Richfield Road Pipeline $ 1,450,000 $ $ 1,450,000 $ 1,322,659 Z 2015 Waterline Replacement $ 1,240,000 $ $ 1,240,000 $ 902,429 AA TOTAL $ 4,996,789 $ $ 4,996,789 $ 4,400,935 AB GRAND TOTAL S 20,870,823 S 8,889,516 S 29,760,339 5 8,186,926 S 7,940,235 5 4,505,324 S 3,688,000 $ 2,482,000 S 2,362,000 $ 2,795,000 $ 2,200,000 5 2,200,000 $ 2,200,000 5 2,200,000 $ 2,200,000 5 2,200,000 AC Water Capital Reserves Available to Fund Future CIP (w/o New Money) AD Water Capital Reserves Available to Fund Future CIP (excludes Fairmont BPS) $ 11,887,913 $ 4,107,678 $ (197,646) $ (3,685,646) $ (5,967,646) $ (8,129,646) $ (10,924,646) $ (2,200,000) $ (2,200,000) $ (2,200,000) $ (2,200,000) $ (2,200,000) $ (13,124,646) $ 12,888,839 $ 8,834,604 $ 6,339,104 $ 2,651,104 $ 169,104 $ (2,192,896) $ (4,987,896) $ (2,200,000) $ (2,200,000) $ (2,200,000) $ (2,200,000) $ (2,200,000) $ (7,187,896) Note: Projected Available Balances do not include possible annual reserve transfers from Operating Fund -� y�s�`�!� �. � �: �, � arm_ • --. +--� � 1� s Quiestons/Discus: ITEM NO. 5.2 AGENDA REPORT Meeting Date: March 21, 2017 Subject: Annual Review of Financial Reserves Policy ATTACHMENTS: Name: Description: Type: Backup Material Distributed Less Than 72 Hours Prior to Budget Presentation B.pdf Backup Material the Meeting Backup Material Distributed Less Than 72 Hours Prior to the Meeting Reserve Pol*ic Overview Reserves - A- t of�pident finana'�: planning. curren Ar s to ens ger 6"�-has_.u#fiie _ ncTfuture nee s by setting reserve target levels of funding. Reserve Fund Types: - General Operating - Funds that accumulate from day -to -da) operations that have not otherwise been designated or restricted. - Designated Reserves - Established by action of the Board an, designated for specific purposes. These funds are utilized to f future such things as capital facilities, repair and replacemer existing assets, economic uncertainties, local disasters and of financial hardships in the local or state economy. - Restricted Reserves - Restrictions on the use of the funds are imposed by an outside source such as creditors, grantors, lav regulations governing use. 0 0 Purpose • Provides qaoc, _ _. t ad .u_st-.�_. _ _frc an`a-,, -...,. environments. Establishes policy objectives that build adequate reserves to provide sufficient liquidity to withstand economic and operational fluctuations. Should not be seen as "surplus" funds, bt necessary the short- and long-term operation of an agency. (2005 ACWA Policy Prin for Reserve Funds) Target Levels _ Recornme -Jo reserve levels. - Ensures an agency will meet the Reser, requirements - Assures the rating agencies there will L adequate amount of savings for possik emergencies or operational and capii fluctuations Rating Agencies • Credit rata enc�e='w " =eve toP9 a a., ............. 1PP' - Icc n c Rmar�:-- - Support current operating, capital anc service needs - Provide additional financial flexibility, E during emergency situations. Rating Agencies • Duringa "r view - :':I"' - the ..., a.,tu�'N a ic)ns; 4ge n_- I finances and evaluate the reserve levels - To determine if the active Reserve Policy adhered to and that liquidity needs can be met. • Adequate reserves directly affect an bond rating, and ultimately its ability money at affordable interest rates. agency' to borrow - Ensures the ability to finance and construct infrastructure necessary to improve existing systems and needs. expand service levels to meet YLWD Unrestricted Reserve Types r— �"`�`- YLWD- RF ecommeted .� in Target i Target Min Target Operating Reserve Water 8% of O&M 17% of O&M 25% of O&M 25% of O&M 50% of O&M Sewer 8% of O&M 17% of O&M 25% of O&M 25% of O&M 50% of O&M Emergency Reserve 1% Net Position of 3% Net Positon of Water $1,000,000 $4,000,000 $10,000,000 capital costs capital costs 1% Net Position of 3% Net Positon of Sewer $250,000 $1,000,000 $3,000,000 capital costs capital costs Capital Replacement Reserve 2% asset value at At least 2 years of Water $1,820,000 Repl a cement Costs $1,820,000 CIP Budget 2% assetvalue at At least 2 years of Sewer $350,000 Repl a cement Costs $345,000 CIP Budget Maintenance Reserve Water $200,000 $200,000 $200,000 $300,000 Sewer $0 $0 $100,000 $300,000 Administration Reserve Water $0 $0 $200,000 Rate Stabilization Reserve Water $0 15% Commodity Revenues 20% of Budgeted Water Sales Debt Service Reserve Water $2,723,509 $2,723,509 $0 YLWD Restricted Reserve Types YLWD- RF gecommended- Target Target Min Targ y�in Conservation Reserve Wate r $1,500,000 $0 $1,000,000 2008 COP Debt Service Reserve Wate r $2,147,096 $2,147,096 $0 Employee Liability Reserve- Annual Contribution Wate r $93,000 $93,000 $93,000 Sewer $7,000 $7,000 $7,000 Days of Cash- Rating Agency Requirements to AA+ �,_ - AA- to as s Jar `', � & Days 150 9 Days <90>60 Cash Balance > Cash Balance < Cash Balance < Moody's $75M Days >250 Strong Fitch Days >_ 365 $75M>$20M W 250 days >_N >150 days Midrange Approx 6 Months $20M>$5M 0 150 days >_ N > 3' d ays Weaker 3 Months or Les. *N= Cash on Hand, "Days of Cash" is only one component of Rate RE Days of Cash- Policy Comparison Fieldman Recommended Current Policy Fieldman Recommended based on FY 2016-17 Budget and June 30, 201 E results. Current Policy based on January 31, 2017 reserve balances. Unrestricted Reserve Balance $29,781,704 $26,585,928 Water FY 2016/17 Budgeted O&M Expense $25,803,499 $25,803,499 Calculated Days Cashl 421 376 Unrestricted Reserve Balance $1,354,750 $41336,406 Sewer FY 2016/17 Budgeted O&M Expense $1,598,830 $1,598,830 Calculated Days Cash 309 990 Fieldman Recommended based on FY 2016-17 Budget and June 30, 201 E results. Current Policy based on January 31, 2017 reserve balances. -� y�s�`�!� �. � �: �, � arm_ • --. +--� � 1� s Quiestons/Discus: