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Financial Status Report – FY 2021 Close II November 2021 Joseph Gonzales, Assistant Director, Financial Services Financial Status Report – FY 2021 Close II Revenues & Requirements Summary Water Services • $281.22 million (4.6%) below projections Wastewater Services • $263.03 million (2.5%) above projections Total Revenues & Transfers In • $573.60 million (6.6%) below projections 2 2 $154.71 $188.40 $20.43 $232.19 $573.60 $189.78 $173.66 $21.25 $236.63 $614.18 Transfers OutTotal DebtServiceTotal OtherRequirementsTotal ProgramOperating Req.Total Revenues &Transfers InAllotmentActual Financial Status Report – FY 2021 Close II Billed Water Service Revenue by Month 3 OctNovDecJanFebMarAprMayJunJulAugSep Budget25.6822.5820.2520.5518.6819.6821.7023.0025.2829.7534.3933.23 Actual26.7225.2022.8821.1514.1420.5920.2322.4621.1527.0327.1732.50Variance1.042.622.630.60-4.540.91-1.47-0.54-4.13-2.72-7.22-0.73% Var4.0%11.6%13.0%2.9%-24.3%4.6%-6.8%-2.3%-16.3%-9.1%-21.0%-2.2% FY'20-Actual 32.2524.3020.6420.2518.3618.3618.8120.9023.6630.3432.5731.48Monthly Actuals vs. BudgetMillions of Dollars ($)0510152025303540 Financial Status Report – FY 2021 Close II Billed Wastewater Service Revenue by Month 4 OctNovDecJanFebMarAprMayJunJulAugSep Budget20.5520.1720.0520.0620.2419.7122.5922.3022.6122.6723.3922.35 Actual21.5321.6421.5421.6816.1624.7122.4222.4221.9023.2022.0923.74Variance0.981.471.491.62-4.085.00-0.170.12-0.710.53-1.301.39% Var4.8%7.3%7.4%8.1%-20.2%25.4%-0.8%0.5%-3.1%2.3%-5.6%6.2% FY'20-Actual 22.6721.6121.4121.5621.1420.6220.8920.3120.9222.2522.1121.52Monthly Actuals vs. BudgetMillions of Dollars ($)051015202530 Financial Status Report – FY 2021 Close II Water Service Revenue by Customer Class 5 Financial Status Report – FY 2021 Close II Rainfall by Month (inches) 6 Financial Status Report – FY 2021 Close II Total Requirements by Type Combined YTD Total $595.73 million 7.8% Transfer to GF $46.54 6.5% Other Transfers $38.42 3.4% Other Req. $20.43 31.6% Debt Service $188.40 11.7% Transfer to CIP $69.75 39.0% Operating Req. $232.19 • Total YTD Requirements - $25.58 million less than budgeted • YTD Program Operating Requirements - $232.19 million or 1.9% less than budgeted • YTD Debt Service Requirements - $188.40 million or 8.5% above budgeted 7 Financial Status Report – FY 2021 Close II Program Operating & Other Requirements The combined YTD Program Operating and Other Requirements of $252.62 million were $5.25 million, or 2% below the budget allotments for the fiscal year. 8 OctNovDecJanFebMarAprMayJunJulAugSep Budget22.2025.8223.6220.5120.8520.4522.5221.3919.2719.6620.5121.07 Actual26.5220.9822.5818.1819.4520.1424.8719.1521.6318.4418.7821.90Variance-4.324.841.042.331.400.31-2.352.24-2.361.221.73-0.83% Var-19.5%18.7%4.4%11.4%6.7%1.5%-10.4%10.5%-12.2%6.2%8.4%-3.9% FY'20-Actual 17.8630.7222.4616.1916.5019.8015.6123.8418.9517.7919.0817.61Monthly Budget vs. ActualMillions of Dollars ($)05101520253035 Financial Status Report – FY 2021 Close II Fund Summary 9 Beginning BalanceWater ServicesWastewater ServicesReclaimed ServicesReserve Fund SurchargeOther RevenuesTransfers InTotal Revenues & Transfers InProgram Operating Req.Other RequirementsDebt ServiceTransfers OutTotal Revenue RequirementsEnding BalanceDebt Service CoverageAllotmentActual VarianceYTDYTD206.44231.0324.59294.77281.22(13.55)256.69263.036.342.302.22(0.08)2.072.04(0.03)12.1812.290.1146.1712.80(33.37)614.18573.60(40.58)236.63232.194.4421.2420.430.81173.66188.40(14.74)189.78154.7135.07621.31595.7325.58199.31208.909.591.721.75 Financial Status Report – FY 2021 Close II Capital Recovery Fee Collections 10 WaterOctNovDecJanFebMarAprMayJunJulAugSepYTD FY'21 Actual1.212.301.661.012.241.398.012.192.782.522.532.7430.58 FY'20 Actual 3.112.072.092.302.561.801.481.551.653.641.673.2327.15WastewaterOctNovDecJanFebMarAprMayJunJulAugSepYTD FY'21 Actual0.600.930.710.391.070.533.850.941.290.971.321.0913.69 FY'20 Actual 1.150.770.710.961.020.740.560.600.721.530.811.3610.93CombinedOctNovDecJanFebMarAprMayJunJulAugSepYTDFY'21 Actual1.813.232.371.403.311.9211.863.134.073.493.853.8344.27FY'20 Actual 4.262.842.803.263.582.542.042.152.375.172.484.5938.08Millions of Dollars ($)0.01.02.03.04.05.06.07.08.09.0 Financial Status Report – FY 2021 Close II Austin Water Fee Waivers by Month 11 OctNovDecJanFebMarAprMayJunJulAugSepYTD Affordable Housing*98.7 41.3 34.6 31.1 236.7 145.3 498.7 172.9 334.7 81.3 116.9 36.0 1,827.9 Annexation- - - - - - - - - - - - - Council Developer Agreements 2.5 - 7.6 31.4 2.5 71.9 67.9 7.1 87.4 84.8 89.2 6.4 458.6 Government- 15.3 35.1 56.9 - 29.8 25.2 13.4 - 15.3 - 24.0 214.8 Other Waivers 48.3 18.4 30.9 1.6 2.4 93.1 180.6 81.3 86.4 109.3 69.6 4.4 726.2 Total 149.5 74.9 108.2 120.9 241.5 340.1 772.3 274.6 508.5 290.6 275.7 70.8 3,227.5 Fee Waivers by MonthThousands of Dollars ($)Note: Combined water and wastewaters fee waivers 0100200300400500600700800 Financial Status Report – FY 2021 Close II Debt Management Strategies • 2021 GFOA Award for Excellence in Government Finance • Capital Recovery Fees (“CRF”) o Actual CRF net revenues of $44 million for FY21 o $35 million debt defeasance deferral from FY21 to FY22 due to market conditions. • Debt o $265 million bond issue for FY21 to refund existing debt and outstanding tax-exempt commercial paper obligations for $18.7M in savings • TWDB Loans o November & January FY21 closings for a combined total of $36.8 million (CWSRF, DWSRF, and SWIFT) for $8M in savings 12 Financial Status Report – FY 2021 Close II Debt Service Savings – FY 2021 Total Debt Service Requirements Comparison FY2017 to Current - Budget Basis $19.0 $45.9 $48.7 $43.8 $29.7 $69.6 $72.3 $78.3 $70.5 $76.8 Total Debt Service Savings Since FY 2016, $609.8M* $280 $240 $200 $160 $120 $80 $40 $0 ) s n o i l l i m n i ( e c i v r e S t b e D 2016-17 Actual 2017-18 Actual 2018-19 Actual 2019-20 Actual 2020-21 Estimate 2021-22 Forecast 2022-23 Forecast 2023-24 Forecast 2024-25 Forecast 2025-26 Forecast Current Debt Service Requirements 2016 Debt Service Requirements Fiscal Year Debt Svc Reduction * Graph only represents a certain number of years for illustration purposes and does not reflect total savings. 13 Financial Status Report – FY 2021 Close II Debt Management Strategies FY 2022 Debt & TWDB Loans o November 17th $71M TWDB loan closings with estimated savings of $13M o November 18th $277M bond refunding to refund existing debt and outstanding tax-exempt commercial paper for $68M savings o December Debt Defeasance $64.8M 14 Financial Status Report – FY 2021 Close II Debt Service Savings –FY 2022 (including Series 2021 Refunding Issue) Total Debt Service Requirements Comparison FY2017 to Current - Budget Basis $19.0 $45.9 $48.7 $43.8 $52.9 $70.7 $74.6 $80.4 $74.0 $80.3 Total Debt Service Savings Since FY 2016, $681.2M* $280 $240 $200 $160 $120 $80 $40 $0 ) s n o i l l i m n i ( e c i v r e S t b e D 2016-17 Actual 2017-18 Actual 2018-19 Actual 2019-20 Actual 2020-21 Actual 2021-22 Forecast 2022-23 Forecast 2023-24 Forecast 2024-25 Forecast 2025-26 Forecast Current Debt Service Requirements 2016 Debt Service Requirements Fiscal Year Debt Svc Reduction * Graph only represents a certain number of years for illustration purposes and does not reflect total savings. 15 Questions? 16