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Study Year NumberCurrent
Budget1 1 2 3 4 5 6 7 8 9 10
Calendar Year2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 Rate ($ per EDU -Monthly) 5.45$ 16.35$ 16.68$ 17.01$ 17.35$ 17.70$ 18.05$ 18.41$ 18.78$ 19.16$ 19.54$ 200.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% EDUs 60,558 60,558 61,164 61,776 62,393 63,017 63,647 64,284 64,927 65,576 66,232 Operations
Operating Revenue
City of Salinas Rate Revenue 3,960,518$ 11,881,554$ 12,240,377$ 12,610,037$ 12,990,860$ 13,383,184$ 13,787,356$ 14,203,734$ 14,632,687$ 15,074,594$ 15,529,847$ Investment Interest
Net Income Carry Forward from Prior Year 0 0 0 0 0 0 0 0 0 0 0 Inspection Fees
Total Operating Revenue 3,960,518$ 11,881,554$ 12,240,377$ 12,610,037$ 12,990,860$ 13,383,184$ 13,787,356$ 14,203,734$ 14,632,687$ 15,074,594$ 15,529,847$ 136,334,229$ Operational Expenses
Salaries and Benefits 1,954,090 $ 2,100,647$ 2,258,195$ 2,427,560$ 2,609,627$ 2,805,349$ 3,015,750$ 3,241,931$ 3,485,076$ 3,746,457$ 4,027,441$ Supplies and Materials 241,000 $ 259,075$ 278,506$ 299,394$ 321,848$ 345,987$ 371,936$ 399,831$ 429,818$ 462,055$ 496,709$ Outside Services 388,000 $ 417,100$ 448,383$ 482,011$ 518,162$ 557,024$ 598,801$ 643,711$ 691,989$ 743,889$ 799,680$ Other Charges 397,500 $ 427,313$ 459,361$ 493,813$ 530,849$ 570,663$ 613,462$ 659,472$ 708,932$ 762,102$ 819,260$ NPDES Allocation 536,920 $ 577,189$ 620,478$ 667,014$ 717,040$ 770,818$ 828,629$ 890,777$ 957,585$ 1,029,404$ 1,106,609$ Total Operational Expenses3,517,510$ 3,781,323$ 4,064,922$ 4,369,792$ 4,697,526$ 5,049,841$ 5,428,579$ 5,835,722$ 6,273,401$ 6,743,906$ 7,249,699$ 53,494,711$ Net Operating Income before Debt Service443,008$ 8,100,231$ 8,175,455$ 8,240,245$ 8,293,334$ 8,333,343$ 8,358,777$ 8,368,012$ 8,359,286$ 8,330,688$ 8,280,148$ 82,839,518$ Debt Service
Current Debt Service 856,080 $ 865,385$ 863,002$ 859,384$ 863,658$ 862,054$ 864,951$ 861,608$ 862,093$ 856,582$ 860,170$ 8,618,887$ First Issuance - $ - $ 2,832,990$ 2,832,990$ 2,832,990$ 2,832,990$ 2,832,990$ 2,832,990$ 2,832,990$ 2,832,990$ Second Issuance - $ - $ - $ - $ - $ 1,017,404$ 1,017,404$ 1,017,404$ 1,017,404$ 1,017,404$ Third Issuance - $ - $ - $ - $ - $ - $ - $ - $ 1,892,346$ 1,892,346$ Total Debt Service 856,080$ 865,385$ 863,002$ 3,692,374$ 3,696,648$ 3,695,044$ 4,715,346$ 4,712,002$ 4,712,487$ 6,599,323$ 6,602,911$ Debt Service Ratio (1.25 Minimum) 0.52 9.36 9.47 2.23 2.24 2.26 1.77 1.78 1.77 1.26 1.25 Net Operating Income After Debt Service (413,072)$ 7,234,846$ 7,312,453$ 4,547,871$ 4,596,685$ 4,638,299$ 3,643,432$ 3,656,010$ 3,646,799$ 1,731,365$ 1,677,237$ 42,684,997$ .
Transfer to Operating Reserve (2,000,000) $ - $ - $ - $ - $ - $ - $ - $ - $ Transfer to Capital Replacement Program (7,234,846)$ (5,312,453)$ (4,547,871)$ (4,596,685)$ (4,638,299)$ (3,643,432)$ (3,656,010)$ (3,646,799)$ (1,731,365)$ (1,677,237)$ (40,684,997)$ Net Year End Balance in Operating Account -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Fiscal Year 1 2 3 4 5 6 7 8 9 10
2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 Operating Reserve Fund Balance
Carry Forward from Prior Year - $ - $ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ Interest Earnings on Fund Balance 40,000 $ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ Less: Transfer Interest Earnings to Capital Fund 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ Less: Outlay - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Year End Balance - $ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ 2,000,000$ Fiscal Year 1 2 3 4 5 6 7 8 9 10
2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 Capital Replacement Fund Balances
Carry Forward from Prior Year 0 - $ 1,071,724$ 32,208,550$ 16,578,055$ 52,013 $ 8,906,534$ 3,513,557$ 52,494 $ 19,623,900$ 11,590,980$ Transfer In from Operating Account 0 7,234,846$ 5,312,453$ 4,547,871$ 4,596,685$ 4,638,299$ 3,643,432$ 3,656,010$ 3,646,799$ 1,731,365$ 1,677,237$ 40,684,997$ Interest Earnings on Fund Balance 0 21,434 $ 644,171$ 331,561$ 1,040 $ 178,131$ 70,271$ 1,050$ 392,478$ 231,820$ 1,871,956$ Interest Earnings from Operating Reserve - $ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 40,000$ 320,000$ Bond Issuance - $ 39,192,760$ - $ - $ 14,075,196$ - $ - $ 26,179,504$ - $ - $ Less: Capital Outlay for Projects - $ 6,163,122$ 13,389,822$ 20,862,537$ 21,494,288$ 9,900,014$ 9,254,539$ 7,227,344$ 10,295,947$ 10,196,763$ 6,037,883$ 114,822,258$ Year End Balance -$ 1,071,724$ 32,208,550$ 16,578,055$ 52,013$ 8,906,534$ 3,513,557$ 52,494$ 19,623,900$ 11,590,980$ 7,502,154$ Notes:
1. The current monthly rate per EDU of $5.45 is insufficient to meet operating expenses and debt service requirements. A monthly rate of $9.54 per EDU would be required to breakeven.
5.00% 5.00% 5.00%
30 30 30
3.50% 3.50% 3.50%
0.00% 0.00% 0.00%
6.51% 6.51% 6.51%
$43,550,000 $15,640,000 $29,090,000
Uniform Series Factor0.065051 Uniform Series Factor 0.065051 Uniform Series Factor 0.065051 2,832,990$ 1,017,404 $ 1,892,346 $
BOND PROCEEDS39,192,760$ BOND PROCEEDS 14,075,196$ BOND PROCEEDS26,179,504$ 2 5 8
Assumptions: Criteria:
O&M Inflation Factor = 7.5% 1. Minimal year end balance at 10th year Total CIP Bond Proceeds PayGo Annual Rate Escalation= 2% 2. CIP funded through 31% rates and 69% bonds 114,822,258 $ 79,447,459$ 35,374,799$ Annual EDU Growth Rate= 1% 3. Bonds Issued in Years 2,5 and 8 100.00% 69.19% 30.81% Minimum Debt Service Ratio= 1.25% 4. CIP based on costs and timeline provided by Wallace and adjusted by City Rate Stabilization Fund not required 5. Transfer of $2,000,000 to O&M reserve fund City of Salinas - Sewer Rates/Max Bonding Capacity with minimum 125% coverage (31% PayGo with 69% Bonds) Calendar Years 2025-2034
Totals
Years 1-10
Totals
FIRST ISSUANACE SECOND ISSUANACE THIRD ISSUANACE
AVERAGE COUPON AVERAGE COUPON AVERAGE COUPON
BOND TERM (YEARS) BOND TERM (YEARS) BOND TERM (YEARS)
COST OF ISSUANCE (%) COST OF ISSUANCE (%) COST OF ISSUANCE (%)
BOND PREMIUM BOND PREMIUM BOND PREMIUM
RESERVE FUND RESERVE FUND RESERVE FUND
BOND AMOUNT BOND AMOUNT BOND AMOUNT
CIP Allocation
ANNUAL PAYMENT ANNUAL PAYMENT ANNUAL PAYMENT
ISSUANCE IN STUDY YEAR ISSUANCE IN STUDY YEAR ISSUANCE IN STUDY YEAR
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0 1 2 3 4 5 6 7 8 9 10
2024-2025 2025-2026 2026 2027 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 1 Cesar Chavez Park - 300,000 4,164,681 4,289,622 4,418,310 - - - - - - - - - - - 2 Upper Carr Lake Repairs - 1,157,205 - - - - - - - - - 3 Upstream TP2 Diversion - - - 66,837 - - - - - - - 4 Northridge Mall - 300,000 2,453,872 - - - - - - - - 5 East Market and Upstream of Lake Street - - 309,000 1,648,511 - - - - - - - 6 Louise and Van Buren Street Repair - - - - - - - - 365,887 - - 7 West Market at Davis Overcrossing - - - - - - - - - - - 8 Cherokee Drive - - 309,000 2,533,429 - - - - - - - 9 Malarin St and Wilgart Way Repairs - - - - - - - - - - - 10 Romie Lane Repairs and Reconfig Analysis - - - - - - 119,405 - - 134,392 11 King Street Repairs - - - - - 225,102 717,591 - - - - 12 Del Monte and Mae Repairs - - - - - - - - - 654,866 674,512 13 Riker Street Repairs - - - - - - - - - - 15,052 14 West Market Street Repairs - - 863,929 889,847 15 Joohnson Place Repairs - - - - - - - - - - - 16 N Main St Hwy 101 Underpass Bunkder Repair - - - - - - - - - - - 17 Donner Way - - - - 204,496 - - - - 18 San Miguel Ave Repair - - - - - - - - - - - 19 Noice Dr/ Tyler Street - - - - - - - 358,216 5,485,237 - - 20 Natividad Rd - - - - - - - - - - - CIPs 21 thru 27 - - - - - - - - - - CCTV Sewers - 1,120,150 1,153,755 1,188,367 1,224,018 1,260,739 1,298,561 1,337,518 1,377,643 1,418,973 1,461,542 CCTV Inspection Program 153,897 158,514 163,269 168,167 173,212 178,409 183,761 189,274 194,952 200,801 CIPP Line Sewers - 2,060,000 2,060,000 2,121,800 2,185,454 2,251,018 2,318,548 2,388,105 2,459,748 2,533,540 2,609,546 Full Replacement Sewers - - - - - - - - - - - Root Removal - 41,200 41,200 42,436 43,709 45,020 46,371 47,762 49,195 50,671 52,191 Sewer Manhole Replacement - - - - - - - - - - - Sewer Manhole Lining - - - - - - - - - - - total 0 5,132,452 10,650,022 12,054,271 8,244,155 3,955,091 4,559,479 4,434,766 9,926,985 5,716,931 6,037,883 Cumulative -$ 5,132,452$ 15,782,474$ 27,836,745$ 36,080,900$ 40,035,991$ 44,595,471$ 49,030,237$ 58,957,222$ 64,674,152$ 70,712,035$ Project
Number
………………………….…………Project.Year………
………………….…….…...Fiscal.Year..Project
Name …………………...…
0 1 2 3 4 5 6 7 8 9 10
2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 1 San Juan Grade - 309,000 1,257,827 1,295,562 - - - - - - 2 North Davis Road - 257,500 2,548,268 2,624,716 2,703,458 - - - - - 3 West Laurel Drive - - - - - - - - - - 4 Victor Street - - - - - - - - - - 5 Freedom Parkway - - - 237,122 - - - - - - 6 Natividad Creek Park 250,000 1,967,300 - - - - - - - - 7 East Alisal Street - - 265,225 1,695,912 - - - - - - 8 Abbot Street 380,670 - - - - - - - - - 9 South Sanborn Road - - - - - - - 368,962 4,479,832 - Totals 630,670$ 2,533,800$ 4,071,320$ 5,853,312$ 2,703,458$ -$ -$ 368,962$ 4,479,832$ -$ Cumulative -$ 630,670$ 3,164,470$ 7,235,790$ 13,089,103$ 15,792,560$ 15,792,560$ 15,792,560$ 16,161,523$ 20,641,355$ 20,641,355$ Project
Number
………………………….…………Project.Year………
………………….…….…...Fiscal.Year..Project
Name …………………...…
0 1 2 3 4 5 6 7
2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 1 Lake Street Lift Station 400,000 - 4,524,765 4,660,508 - - - 2 Santa Rita Lift Station - 206,000 - 2,736,313 - - - 3 Spicer Lift Station - - 212,180 - 3,241,465 - - 4 Mill Lake Lift Station - - - - - 4,463,205 - 5 Carpenter Hall Lift Station - - - - - 231,855 1,430,923 6 De Ls Torre Lift Station - - - - - - 24,315 7 Vista Nueva Lift Station - - - - - - - 8 Harkins Road Lift Stataion - - - - - - - 9 Las Casitas Lift Station - - - - - - - 10 TP 2 Lift Station - - - - - - - 11 Airport Lift Station - - - - - - 1,337,339 total -$ 400,000$ 206,000$ 4,736,945$ 7,396,821$ 3,241,465$ 4,695,060$ 2,792,577$ Cumulative -$ 400,000$ 606,000$ 5,342,945$ 12,739,766$ 15,981,231$ 20,676,291$ 23,468,869$ Project
Number
………………………….…………Project.Year………
………………….…….…...Fiscal.Year..Project
Name …………………...…
City Code Description Billing Units Flow per Unit EDU per Billing Unit EDUs FY 2025-26
Rate per
Month
001 Business/Government (1-10 employees) 2,217 146 0.77 1,713 12.63$ 002 Business/Government (11-20 employees) 163 292 1.54 252 25.26$ 003 Business/Government (21-30 employees) 61 438 2.32 141 37.89$ 004 Business/Government (31-40 employees) 23 584 3.09 71 50.52$ 005 Business/Government (41-50 employees) 16 730 3.86 62 63.15$ 006 Business/Government (51-60 employees) 20 876 4.63 93 75.78$ 007 Business/Government (61-70 employees) 9 1,022 5.41 49 88.41$ 008 Business/Government (71-80 employees) 7 1,168 6.18 43 101.04$ 009 Business/Government (81-90 employees) 6 1,314 6.95 42 113.67$ 010 Business/Government (91-100 employees) 6 1,460 7.72 46 126.30$ 011 Business/Government (101-110 employees) 1 1,606 8.50 8 138.93$ 012 Business/Government (111-120 employees) 1 1,752 9.27 9 151.56$ 013 Business/Government (121-130 employees) 3 1,898 10.04 30 164.19$ 014 Business/Government (131-140 employees) 2 2,044 10.81 22 176.82$ 015 Business/Government (141-150 employees) 1 2,190 11.59 12 189.45$ 016 Business/Government (151-160 employees) 2 2,336 12.36 25 202.08$ 018 Business/Government (171-180 employees) 1 2,628 13.90 14 227.34$ 019 Business/Government (181-190 employees) 1 2,774 14.68 15 239.97$ 020 Business/Government (191-200 employees) 1 - - -$ 022 Business/Government (210-220 employees) 1 3,212 16.99 17 277.86$ 030 Business/Government (291-300 employees) 2 4,380 23.17 46 378.90$ 045 Business/Government (441-450 employees) 3 6,424 33.99 102 555.73$ 053 Business/Government (521-530 employees) 1 7,738 40.94 41 669.40$ 093 Business/Government (931-939 employees) 1 14,454 76.48 76 1,250.39$ 101 Residence - vacant 6 - -$ 102 Residence 23,311 189 1.00 23,311 16.35$ 105 Multi Residence - Apts 17,630 189 1.00 17,630 16.35$ 106 Multi Residence - Vacant Apts 1 - - -$ 107 Condominium 2,438 189 1.00 2,438 16.35$ 109 Retirement Complex 136 189 1.00 136 16.35$ 211 Minimum/ Business Vacant 394 - - -$ 221 Hotel/Motel 1,896 82 0.43 823 7.09$ 231 Supermarket 34 797 4.22 143 68.95$ 241 Medical 323 195 1.03 333 16.87$ 242 Dental 114 269 1.42 162 23.27$ 243 Rest Home/ Convalescent 950 54 0.29 271 4.67$ 244 Surgery Center/ General Hospital 11 320 1.69 19 27.68$ 245 Animal Hospital 6 365 1.93 12 31.58$ 261 Restaurant - 1 Meal 389 7 0.04 14 0.61$ 262 Restaurant - 2 Meals. 4,422 11 0.06 257 0.95$ 263 Restaurant - 3 Meals. 1,761 21 0.11 196 1.82$ 264 Restaurant w/ Bar 737 21 0.11 82 1.82$ 265 Bar 3,372 317 1.68 5,656 27.42$ 266 Night Club 2 950 5.03 10 82.18$ 267 Take-Out Small 180 354 1.87 337 30.62$ 268 Take-Out Medium 39 871 4.61 180 75.35$ 269 Take-Out Large 20 1,588 8.40 168 137.37$ 270 Bakery 54 287 1.52 82 24.83$ 281 Theater 4 471 2.49 10 40.75$ 282 Bowling Center 2 1,433 7.58 15 123.97$ 283 Gym - 500 Members 8 189 1.00 8 16.35$ 285 Gym - 1500 Members 1 567 3.00 3 49.05$ 286 Gym - 2000 Members 1 756 4.00 4 65.40$ 291 School - Minimum 25 - - -$ 292 School - Pre Grade 6 22,272 2 0.01 236 0.17$ 293 School - Grade 7 -College 18,493 4 0.02 391 0.35$ 294 School - Boarding 2,688 40 0.21 569 3.46$ 295 Instructional Facility 7 189 1.00 7 16.35$ 296 Church - Small 51 189 1.00 51 16.35$ 297 Church - Large 30 378 2.00 60 32.70$ 301 Photo Developer 11 189 1.00 11 16.35$ 311 Laboratory - 10 employees 21 189 1.00 21 16.35$ 331 Garage Repair 134 140 0.74 99 12.11$ 332 Garage 11-20 employees 3 280 1.48 4 24.22$ 341 Paint Shop - 10 employees 61 189 1.00 61 16.35$ 342 Paint Shop - 20 employees 5 378 2.00 10 32.70$ 351 Industrial Laundry 2 76,885 406.80 814 6,651.16$ 352 Commercial Laundry 1 1,845 9.76 10 159.61$ 353 Dry Cleaner 5 483 2.56 13 41.78$ 354 Laundromat 1,162 127 0.67 781 10.99$ 366 Car Wash 17 2,424 12.83 218 209.70$ 367 Truck/ Bus Wash 4 1,538 8.14 33 133.05$ 401 Special User 23 9,611 50.85 1,170 831.43$ 403 Chemical Pesticides 1 2,768 14.65 15 239.45$ 405 Water Softener 1 18,299 96.82 97 1,583.01$ 406 Food Processor 6 9,611 50.85 305 831.43$ 407 Rec/Sports Facility 4 2,307 12.21 49 199.57$ 408 Inedible Renderer 1 49,206 260.35 260 4,256.71$ 410 Groundwater Discharger 2 4,357 23.05 46 376.92$ Totals 105,821 60,558