CWLP FINANCIAL PRESENTATION FY2021 Quarter 1 Financial Update Data Through May 31, 2020
ELECTRIC FUND - FINANCES CASH SH P POSI SITI TION - MAY F FY202 021 1 El Electric F Fund nd Worki king C ng Cash: h: $ 45 m $ 45 million Cash/Investments : $ 28.6 million Renewal (Capital) : $ 16.4 million Up $12.1 million from May FY2020 • Days o of Cash Cash: 93 93 da days ys • Mo Moody’s ’s Days o of Cash Cash: : 150 150 da days ys Includes Restricted ERIRF of $21.5M
ELECTRIC FUND CASH BY MONTH 60 DAYS CASH = $29.1 MILLION
ELECTRIC FUND DAYS OF CASH
ELECTRIC FUND REVENUE BUDGET THROUGH MAY FY2021 • Retail Electric Revenues Budget To Date $ 41.5 million Actual To Date $ 39.0 million Variance ($ 2.5 million) ~ (6.0%) • Wholesale Electric Revenues Budget To Date $ 6.0 million Actual To Date $ 2.7 million Variance ($ 3.3 million) ~ (55%) • Total Electric Operating Revenues are $6 Million or 12.4% Under Budget
ELECTRIC FUND REVENUE COMPARISON
ELECTRIC FUND EXPENSE BUDGET NON-BOND EXPENSES THROUGH MAY FY2021 • Budget To Date $ 56.8 million • Expense To Date $ 43.6 million • Variance ($ 13.2) million ~ (23.2%)
ELECTRIC FUND EXPENSE COMPARISON
ELECTRIC FUND DEBT COVERAGE RATIO HISTORY YEAR END
ELECTRIC FUND DEBT COVERAGE RATIO AS S OF MAY F FY2021 Net et Reven enues es Availa ilable le F For Debt S Servic ice $11 $11,8 ,842, 42,67 674 Debt ebt S Ser ervi vice $9, $9,146, 46,006 006 Debt ebt S Ser ervi vice Co Cover erage (Year E End 1.25x .25x) 1.29x .29x Debt ebt S Ser ervi vice Co Cover erage (Incl cluding P PILOT) 1.06x .06x * The quarterly calculation is for internal tracking only. Debt Coverage Ratio is based upon a full 12 months.
ELECTRIC FUND DEBT COVERAGE RATIO BY MONTH WITH PILOT INCLUDED
ENVIRONMENTAL AND REGULATORY INITIATIVES AND REBATE FUND (ERIRF)
WATER FUND - FINANCES CASH P POS OSIT ITIO ION - MA MAY F FY2021 Water er F Fund W d Working C Cash sh : $5.4 5.4 milli illion Cash/Investments : $ 0.1 million Renewal (Capital) : $ 7.3 million Due to Electr tric F Fund : ($ 2.0) m million Down $1.35 million from May FY2020 • Days of s of cash sh: 83 83 days • Moody oody’s D s Days s of of Ca Cash sh : 54 4 days
WATER FUND CASH BY MONTH 60 DAYS CASH = $3.8 MILLION
WATER FUND DAYS OF CASH *Prior to FY2017, built up high cash balances due to all planned rate increases being implemented while able to delay second bond issuance for Water Works Infrastructure Improvements Projects.
WATER FUND REVENUES AND EXPENSES TH THROUGH MAY F MAY FY20 Y2021 • Wat ater R Reve venues Budget T To Date Date $ 7.4 m millio llion Ac Actual T To Date Date $ 6.2 m millio llion Reven enue V ue Variance ($ 1.2) m millio llion n ~ (16.5%) %) • Wa Wate ter N Non-Bond nd Ex Expens nses Budg dget et T To o Date $ $ 8.8 m 8.8 million Actua ual T To Da Date $ $ 6.8 m 6.8 million Exp xpense Var Variance ($ $ 2.0) 2.0) m million ~ ~ (22 22.6% 6%)
WATER FUND REVENUE COMPARISON
WATER FUND EXPENSE COMPARISON
WATER FUND DEBT COVERAGE RATIO HISTORY YEAR END
WATER FUND DEBT COVERAGE RATIO AS O OF F MA MAY F FY20 Y2021 Net et Reven enues es Availa ilable le F For Debt ebt S Ser ervi vice $ 1 $ 1,865, ,865,94 942 Debt ebt S Ser ervi vice $ 1 $ 1,5 ,540, 40,010 Debt ebt S Ser ervi vice Co Cover erage (Y 1.2 .21x 1x (Year E End d 1.25x) Debt ebt S Ser ervi vice Co Cover erage (After A 0.99x 0.99x Auxil iliary y Service ces) s) * The quarterly calculation is for internal tracking only. Debt Coverage Ratio is based upon a full 12 months.
WATER FUND DEBT COVERAGE RATIO BY MONTH AFTER AUXILIARY SERVICES
CWLP LABOR BUDGET LABOR COSTS THROUGH MAY FY2021 (INCLUDING IMRF and FICA) • Water Fund o Budget To Date $ 3.1 million o Expense To Date $ 2.8 million o Variance $ 0.3 million ~ 9% • Electric Fund o Budget To Date $ 12.5 million o Expense To Date $ 11.0 million o Variance $ 1.5 million ~ 11.8% CWLP TOTAL LABOR COSTS ARE $1.8 MILLION OR 11.3% UNDER BUDGET •
FINANCIAL ASSISTANCE-COVID 19 600 customers added to Level Pay or Payment Plan 1,700 eliminated past due or reduced bill to <$100 Total Past Due reduced by $817,000 Disconnections Suspended through July 31 Additional notices (mail, web, online ads) of bill assistance options and payment plans; customer counseling. Bill Assistance & Financial Resources LIHEAP applications reopen July 27 CWLP.com For More Resources; helpillinoisfamilies.com myCWLP.com; 789-2030; cwlp.customer@cwlp.com Energy Services Office @CWLP.com or 789-2070
CWLP FINANCIAL PRESENTATION Ques estio tions
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