parking analysis

8/7/2019 Parking analysis

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City of Columbia, MissouriParking Facilities Analysis(Includes Short Street Garage, Meter Increases)

3/9/2011 C : I D O C U M E - 1 ~ l b l a t t e I L O C A L S - 1 I T e m p \ X P g r p w i s e I P a r k i n g Facilities Financial Statements (inc!. projectionsL1.xlslCover4:12 PM


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DRAFT - FOR DISCUSSION

Assumptions Used for Projections2011 2012 2013 2014 2015

Operating Revenue and ExpenseConstant (with 2010) except as follows:Operating Revenues:New Garage at 5 th & Walnut$480,000 Annually (62.5%Occupancy) (1/2 year for 2011) 150,000 300,000 300,000 300,000 300,000New Garage at ShortStreet$205,715 Annually (75% Occupancy - beg. 2013) 0 0 154,286 154,286 154,286

1) Parking Meter Increase (Estimated Additional Revenue)$.50/Hour (formeters currently at S.30/Hour) 0 278,145 278,145 278,145 278,1452) Parking Meter Increase(Estimated Additional Revenue)$.60IHour (for all meters - must include increase tor $.30 to $.50) 0 199,731 199,731 199,731 199,7313) Parking Meter Increase (EstimatedAdditional Revenue)(Expand MeterHours from 6 to 9PM. Broadway,Walnut & Cherry) 0 120,000 120,000 120,000 120,000Operating Expenses:Personal services:Additional position for 5th & Walnutgarage (Maintenance Asst.) 46,000 46,000 46,000 46,000 46,000Additional position for Short Street garage (MaintenanceAsst.1/2 time) 0 0 25,000 25,000 25,000Materials and supplies:800 parking metersto be replaced in FY 11, 800 in FY 12, 150 in F Y 1 3 112,000 112,000 21,000 0 0Utilities, services and miscellaneousAdditional costs for 5th & Walnutgarage (mostly electric) 67,000 67,000 67,000 67,000 67,000Additional costs for ShortStreetgarage (mostly electric) 0 0 35,000 35,000 35,000

Depreciation Expense:5th & Walnut Garage ($16,000,000140 years) 112 year in 2011 200,000 400,000 400,000 400,000 400,000Short StreetGarage (($8,000,000140 years) beginning 2013 0 0 200,000 200,000 200,000InvestmentRevenue:Ending Cash Balance from PreviousY ear" 3% 381,260 144,132 149,789 149,789 150,616Acquisition of Capital Assets:Capital Project 4,920,978 .. 9,175,000 ..... 0 0 0Capital Outlay 108,000 50,000 - 50,000 50,000 50,000Debt for Short Street Garage ($9,115,000 for 25 Year, $9,175,000 for 20 Year)Thefollowing must be input as 9115000 for 25 year or 9175000 for 20 Year Issue:$9,175,000

Principal 0 165,000 330,000 335,000 345,000Interest 0 216,081 428,863 422,262 413,888

.. This is the revenue bond construction account ($3,223,191) and cash for eapital projects ($4,674,422) lessconstruction contracts payable ($2,976,635) at September 30, 2010. Reduced by construction contracts payableamountas this is already shown as a use of cash on tI1e cash flow statement.

...... Forsurface sealing or other capital expenditure (allow$50,000 annually)

...... Forpurposeso f this analysis, the amount of the bond issue isshownas the capital project, however,partof the bond proceedswould actually be for issue costs and reserve accounts. Itwould not be cashthat could be used for other purposes, so this removes it from total cash on the cash flow statementThe depreciationestimate is shown for the estimated cost ofthe garage only.

3/912011 C:\DOCUME..1\jlblatte\LOCALS-1\Temp\xPgrpwise\Parking Facilities Financial Statements (incl. projectionsL1.xlslAssumptions4:12 PM


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FY 10 MeterRevenueHTE A ccount N umber HTE Proj. Project/Acct. Description Area Revenue $.50 Meters $.30 Meters Average556-0000-446.10-00 KCHCH Christian Church Lot Miscellaneous 5.910.61 19 0 311.08556-0000-446.10-00 KCITYB City Building Miscellaneous 265.65 1 0 265.65556-0000-446.10-00 KCOVRS Meter Covers Covers 126,748.57 n/a n/a556-0000-446.10-00 KGNTRY Gentry Building Miscellaneous 4,379.15 13 0 336.86556-0000-446.10-00 KONSTR On Street Meters 417,217.92 0 0 266.08

As Detailed Below556-0000-446.10-00 KONSTR On Street Meters A1 - Ash 40,772.37 0 251 162.44556-0000-446.10-00 KONSTR On Street Meters A2 - Walnut 105,050.41 0 455 230.88556-0000-446.10-00 KONSTR On Street Meters A3 - Broadway 98,259.08 0 357 275.24556-0000-446.10-00 KONSTR On Street Meters A4 - Cherry 136,012.47 0 331 410.91556-0000-446.10-00 KONSTR On Street Meters A5 - Locust 37,123.59 0 174 213.35556-0000-446.10-00 KONSTR On Street Meters A6 - Campus 204,213.88 408 0 500.52556-0000-446.10-00 KPDVOL Police Dept Volunteer Miscellaneous 420.00 n/a n/a556-0000-446.10-00 KS4TH S 4th Street Miscellaneous 10,003.77 34 0 294.23556-0000-446.10-00 KWBSH Wabash Lot Miscellaneous 1,958.38 10 0 195.84556-0000-446.10-00 K10CHY 10th & Cherry Street Garage 32,447.14 104 0 311.99556-0000-446.10-00 K10LOC 10th & Locust Street Miscellaneous 2,403.72 n/a n/a556-0000-446.10-00 K10WNT 10th & Walnut Street Miscellaneous 2,329.95 14 0 166.43556-0000-446.10-00 K6CHRY 6th & Cherry Street Garage 14,603.32 50 0 292.07556-0000-446.10-00 K8CHRY 8th & Cherry Street Garage 27,179.68 39 0 696.91556-0000-446.10-10 n/a EZ Park Cards Miscellaneous 20,418.33 n/a n/a

870,500.07 692 1,568Check Figure 870,500.07

3/9/2011 C : I D O C U M E - 1 ~ l b l a t t e I L O C A L S - 1 I T e m p I X P g r p w i s e I P a r k i n g Facilities Financial Statements Onc!. projectionsL1.xlslMeter Revenue Analysis4:13 PM


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DRAFT FOR DISCUSSION


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DRAFT FOR DISCUSSION

CITY OF COLUMBIA, M1SSOUftiPARKING FACIUTIES FUNDSTATEMENT OF CASH FLOWSFORTHE YEARS ENDED SEPTEMBER 30

Actual .""', Projected Projected Projected Projected Projected2009 2010 2011 2012 2013 2014 2015CASH FLOWS FROM OPERATING ACTIVITIES:Operating income (loss) S 726,708 S 76J.956 S 508,9S8 S 1,056,634 S 1,042,120 S 1,063.120 S 1,063,120Adlustments to reconcJle operating income (loss) tonet cash provlded by operating activities;Depreciation 279,179 278,649 478,649 678,649 878,649 878,649 878,649Changes In assets and lIabJllties:DecreaseI(increase) in accounts receivable 35,047 (65,6B2)DecreaseJ(lncrease)in due lromother fundsDecreasel(lncrease) In advances 10 other fundsDecreasel(increase) In loans receivable tram other fundsIncreaseI(decrease)Inaccounts payable (88,463} (32,370)Increaset(decrease) in accrued payroll 343 (108)Deaeasel(lncreasa) In inventoryDeaeasel(lnerease) in other assets (1,500) 1.500Increasel(decrease) accrued sales taxlncreasel(decrease) In dueto other fundsIncreasel(decrease) In other liabilities 4,444 1,912UnrealIZed gain (lOSS) oncash ecuivalents 324,699 (3n,919)Other non-operatlng revenue (expense) 11991 407

Net cash provided by (used for) operatin\l activities 1292648 ___590,347 98.LJi_OZ_ _ __1.,.735,483 1,920,769 1,941,769 1,941,769CASH FLO'NS FROM NONCAPITAL FINANCING ACTIVITIES:Operatingtransfers in 75.000Operatirnltransfers out (36,924) (37,162) (37,162) (37,162) (37.162) (37,162) (37.162)Operating Qf3ntsNetcash provided by (used for) noncaollal f1nancinQ act:. 38076 (37162) (371621 (37162) (37,162j /37,162) (37,162)CASH FLO'NS FROM CAPITALAND RELA,TED FiNANCING ACT..Proceeds from bonds, loans andcapitalleases 13,079,593 9,175.000Debt service interest (210,948) (930,188) (907,826) (1,101,407) (1,290,889) (1,259.320) (1,221,627)Debt service pnncJpal and advance refundinQ (515,000) (530,000) (555,000) (735,OOO} (925,000) (950,000) (995,000)AcQuisition and construction of capital assets (1.194,292) (6,889,629) (5,028,978) (9,225,000) (SO,OOO) (SO,OOO) (50,000)Deaease in construction contracts (7,052) (1.527,126) (2,976,635)Fiscal a ~ e n t fees (286,668) (841) (17,715) (17,715) (17,715) (17,715) (17,715)Proceeds from advances \0 other fundsNet cash provided by (used for) ctIpilal and related fin. act. ___10,865,633 (9,Sn,584) __ C 9 , ~ , 1 5 4 ) (1,904,122) (2,283,604) /2.277,035) (2,284,342)CASH FLOWS FROM INVESTING ACTIVITIES:Interest received 249,093 1,322,902 631,471 394,343 400,000 400.000 400,827Purchase of investmentsNet ctIsh provlded by (used. for) Investing activities 249093 1322902 631471 394343 400000 400000 400827Netlncreasel(deaease) In cash andcash &Clulvalents 12,445,450 (8.001,497) (7,904,238) 188,542 3 27,572 21,092CASH ANDCASH EQUIVALENTS, BEGINNING OF PERIOD 8264698 20710,148 12708 651 4804413 4992955 4992958 5020530CASHAND CASH EQUIVALENTS, ENDOF PERIOD" S 20710 148 S 12 70S 651 S 4804 413 S 4992955 S 4992 958 S 5020 530 S 5041622

Check FI!=jure 20,710.148 12,708,651

"Total cash andcasn equivalents there arecertain restrictions on cash. At September 30, 2010, restricted casnwas $10,103,607. $7,897.613 was restricted lor capital projects and $2,205,994was restricted forbond paymentsandbond reserve accounts.

3J9J2011 C : \ O O C U M E - 1 ~ l b l a t t e \ L 0 C A L S - 1 \ T e m p \ X P g r p w l s e \ p a r k l n 9 FacJlitles Finandal Stataments (Incl proJectionsU.Xls\Cash Flow (IndJrect)4:13PM


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DRAFT- FOR DISCUSSION

City of Columbia, MissouriParking Facilities FundCurrent Debt - 2006 SO' and 2009 BABs(Debt Outstanding at September 30,2010)

Fiscal Year Principal Interest Total P&I BABs Subsidy Net P&I2011 555,000 907,826 1,462,826 250,211 1,212,6152012 570,000 885,326 1,455,326 250,211 1,205,1152013 595,000 862,026 1,457,026 250,211 1,206,8152014 615,000 837,058 1,452,058 250,211 1,201,8472015 650,000 807,739 1,457,739 250,211 1,207,5282016 685,000 774,364 1,459,364 250,211 1,209,1532017 575,000 745,169 1,320,169 247,352 1,072,8172018 595,000 720,458 1,315,458 241,468 1,073,9902019 615,000 694,505 1,309,505 235,254 1,074,2512020 635,000 667,098 1,302,098 228,684 1,073,4142021 655,000 638,258 1,293,258 221,766 1,071,4922022 680,000 607,192 1,287,192 212,517 1,074,6752023 700,000 573,810 1,273,810 200,833 1,072,9772024 725,000 538,623 1,263,623 188,518 1,075,1052025 750,000 500,435 1,250,435 175,152 1,075,2832026 775,000 459,641 1,234,641 160,874 1,073,7672027 805,000 415,967 1,220,967 145,589 1,075,3782028 835,000 369,228 1,204,228 129,230 1,074,9982029 865,000 320,777 1,185,777 112,272 1,073,5052030 900,000 269,575 1,169,575 94,351 1,075,2242031 935,000 215,443 1,150,443 75,405 1,075,0382032 970,000 157,790 1,127,790 55,227 1,072,5632033 1,010,000 96,410 1,106,410 33,743 1,072,6672034 1,050,000 32,550 1,082,550 11,393 1,071,157

17,745,000 13,097,268 30,842,268 4,270,894 26,571,374

2006 had two parts within Parking - a refunding of the 95 issueand a refunding of the 96 issue.3/9/2011 C:IDOCUME-1\jlblatleILOCALS-1ITempIXPgrpwiseIParking Facilities Financial Statements (inci. projectionsL1.xlslCurrent Debt4:13 PM


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City of Columbia, MissouriParking Facilities FundFuture Debt - 25 Year, Avg Annual =$687,527Average Coupon Rate=5.604573%Fiscal Year Principal Interest Total P&I

2011 0 0 02012 110,000 233,419 343,4192013 225,000 464,638 689,6382014 225,000 460,137 685,1372015 235,000 454,513 689,5132016 240,000 447,462 687,4622017 245,000 440,263 685,2632018 255,000 431,687 686,6872019 265,000 421,488 686,4882020 275,000 410,887 685,8872021 290,000 398,513 688,5132022 300,000 384,737 684,7372023 320,000 369,738 689,7382024 335,000 353,738 688,7382025 350,000 336,988 686,9882026 370,000 318,612 688,6122027 390,000 298,263 688,2632028 410,000 276,812 686,8122029 435,000 254,263 689,2632030 460,000 229,250 689,2502031 485,000 202,800 687,8002032 515,000 173,700 688,7002033 545,000 142,800 687,8002034 575,000 110,100 685,1002035 610,000 75,600 685,6002036 650,000 39,000 689,000

9,115,000 7,729,408 16,844,408

3/9/2011 C : \ D O C U M E - 1 ~ l b l a t t e \ L O C A L S - 1 \ T e m p \ X P 9 r p w i s e \ P a r k i n 9 Facilities Financial Statements (inc!. projectionsL1.xls\Future Debt 25 Year4:14 PM


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City of Columbia, MissouriParking Facilities FundFuture Debt - 20 Year, Avg Annual = $757,635Average Coupon Rate = 5.245959%Fiscal Year

201120122013201420152016201720182019202020212022202320242025202620272028202920302031

Principalo165,000

330,000335,000345,000355,000365,000380,000390,000410,000425,000445,000470,000490,000515,000545,000575,000605,000640,000675,000715,000

9,175,000

Interesto216,081

428,863422,262413,888403,537392,888380,112364,913349,312330,863310,675288,425264,925240,425213,388183,412151,788118,51281,71342,900

5,598,882

Total P&Io381,081

758,863757,262758,888758,537757,888760,112754,913759,312755,863755,675758,425754,925755,425758,388758,412756,788758,512756,713757,900

14,773,882

3/9/2011 C : \ D O C U M E - 1 ~ l b l a t t e \ L O C A L S - 1 \ T e m p \ X P g r p w i s e \ P a r k i n g Facilities Financial Statements (inc!. projectionsL1.xls\Future Debt 20 Year4:14 PM

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