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City of Columbia, Missouri

Parking Facilities Analysis


(Includes Short Street Garage, Meter Increases)

3/9/2011 C:IDOCUME-1~lblatteILOCALS-1ITemp\XPgrpwiseIParking Facilities Financial Statements (inc!. projectionsL1.xlslCover


4:12 PM
DRAFT - FOR DISCUSSION

Assumptions Used for Projections

2011 2012 2013 2014 2015

Operating Revenue and Expense Constant (with 2010) except as follows:


Operating Revenues:
New Garage at 5th & Walnut
$480,000 Annually (62.5% Occupancy) (1/2 year for 2011) 150,000 300,000 300,000 300,000 300,000
New Garage at Short Street
$205,715 Annually (75% Occupancy - beg. 2013) 0 0 154,286 154,286 154,286
1) Parking Meter Increase (Estimated Additional Revenue)
$.50/Hour (for meters currently at S.30/Hour) 0 278,145 278,145 278,145 278,145
2) Parking Meter Increase (Estimated Additional Revenue)
$.60IHour (for all meters - must include increase tor $.30 to $.50) 0 199,731 199,731 199,731 199,731
3) Parking Meter Increase (Estimated Additional Revenue)
(Expand Meter Hours from 6 to 9PM. Broadway, Walnut & Cherry) 0 120,000 120,000 120,000 120,000
Operating Expenses:
Personal services:
Additional position for 5th & Walnut garage (Maintenance Asst.) 46,000 46,000 46,000 46,000 46,000
Additional position for Short Street garage (Maintenance Asst.·1/2 time) 0 0 25,000 25,000 25,000
Materials and supplies:
800 parking meters to be replaced in FY 11, 800 in FY 12, 150 in FY 13 112,000 112,000 21,000 0 0
Utilities, services and miscellaneous
Additional costs for 5th & Walnut garage (mostly electric) 67,000 67,000 67,000 67,000 67,000
Additional costs for Short Street garage (mostly electric) 0 0 35,000 35,000 35,000

Depreciation Expense:
5th & Walnut Garage ($16,000,000140 years) ·112 year in 2011 200,000 400,000 400,000 400,000 400,000
Short Street Garage (($8,000,000140 years)· beginning 2013 0 0 200,000 200,000 200,000

Investment Revenue:
Ending Cash Balance from Previous Year" 3% 381,260 144,132 149,789 149,789 150,616

Acquisition of Capital Assets:


Capital Project 4,920,978 .. 9,175,000 ..... 0 0 0
Capital Outlay 108,000 50,000 - 50,000 50,000 50,000

Debt for Short Street Garage ($9,115,000 for 25 Year, $9,175,000 for 20 Year)
The following must be input as 9115000 for 25 year or 9175000 for 20 Year Issue:
$9,175,000
Principal 0 165,000 330,000 335,000 345,000
Interest 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) less
construction contracts payable ($2,976,635) at September 30, 2010. Reduced by construction contracts payable
amount as this is already shown as a use of cash on tI1e cash flow statement.

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

...... For purposes of this analysis, the amount of the bond issue is shown as the capital project, however,
part of the bond proceeds would actually be for issue costs and reserve accounts. It would not be cash
that could be used for other purposes, so this removes it from total cash on the cash flow statement
The depreciation estimate is shown for the estimated cost of the garage only.

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


4:12 PM
DRAFT - FOR DISCUSSION

FY 10 Meter Revenue

HTE Account Number HTE Proj. Project/Acct. Description Area Revenue $.50 Meters $.30 Meters Average

556-0000-446.10-00 KCHCH Christian Church Lot Miscellaneous 5.910.61 19 0 311.08


556-0000-446.10-00 KCITYB City Building Miscellaneous 265.65 1 0 265.65
556-0000-446.10-00 KCOVRS Meter Covers Covers 126,748.57 n/a n/a
556-0000-446.10-00 KGNTRY Gentry Building Miscellaneous 4,379.15 13 0 336.86
556-0000-446.10-00 KONSTR On Street Meters 417,217.92 0 0 266.08
As Detailed Below
556-0000-446.10-00 KONSTR On Street Meters A1 - Ash 40,772.37 0 251 162.44
556-0000-446.10-00 KONSTR On Street Meters A2 - Walnut 105,050.41 0 455 230.88
556-0000-446.10-00 KONSTR On Street Meters A3 - Broadway 98,259.08 0 357 275.24
556-0000-446.10-00 KONSTR On Street Meters A4 - Cherry 136,012.47 0 331 410.91
556-0000-446.10-00 KONSTR On Street Meters A5 - Locust 37,123.59 0 174 213.35

556-0000-446.10-00 KONSTR On Street Meters A6 - Campus 204,213.88 408 0 500.52

556-0000-446.10-00 KPDVOL Police Dept Volunteer Miscellaneous 420.00 n/a n/a


556-0000-446.10-00 KS4TH S 4th Street Miscellaneous 10,003.77 34 0 294.23
556-0000-446.10-00 KWBSH Wabash Lot Miscellaneous 1,958.38 10 0 195.84
556-0000-446.10-00 K10CHY 10th & Cherry Street Garage 32,447.14 104 0 311.99
556-0000-446.10-00 K10LOC 10th & Locust Street Miscellaneous 2,403.72 n/a n/a
556-0000-446.10-00 K10WNT 10th & Walnut Street Miscellaneous 2,329.95 14 0 166.43
556-0000-446.10-00 K6CHRY 6th & Cherry Street Garage 14,603.32 50 0 292.07
556-0000-446.10-00 K8CHRY 8th & Cherry Street Garage 27,179.68 39 0 696.91
556-0000-446.10-10 n/a EZ Park Cards Miscellaneous 20,418.33 n/a n/a

870,500.07 692 1,568

Check Figure 870,500.07

3/9/2011 C:IDOCUME-1~lblatteILOCALS-1ITempIXPgrpwiseIParking Facilities Financial Statements Onc!. projectionsL1.xlslMeter Revenue Analysis


4:13 PM
DRAFT • FOR DISCUSSION
DRAFT· FOR DISCUSSION

CITY OF COLUMBIA, M1SSOUfti


PARKING FACIUTIES FUND

STATEMENT OF CASH FLOWS


FOR THE YEARS ENDED SEPTEMBER 30

Actual
2009
.""',
2010
Projected
2011
Projected
2012
Projected
2013
Projected
2014
Projected
2015
CASH 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 1,063,120
Adlustments to reconcJle operating income (loss) to
net cash provlded by operating activities;
Depreciation 279,179 278,649 478,649 678,649 878,649 878,649 878,649
Changes In assets and lIabJllties:
DecreaseI(increase) in accounts receivable 35,047 (65,6B2)
DecreaseJ(lncrease) in due lrom other funds
Decreasel(lncrease) In advances 10 other funds
Decreasel(increase) In loans receivable tram other funds
IncreaseI(decrease)In accounts payable (88,463} (32,370)
Increaset(decrease) in accrued payroll 343 (108)
Deaeasel(lncreasa) In inventory
Deaeasel(lnerease) in other assets (1,500) 1.500
Increasel(decrease) accrued sales tax
lncreasel(decrease) In due to other funds
Increasel(decrease) In other liabilities 4,444 1,912
UnrealIZed gain (lOSS) on cash 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 1,941,769

CASH FLO'NS FROM NONCAPITAL FINANCING ACTIVITIES:


Operating transfers in 75.000
Operatirnl transfers out (36,924) (37,162) (37,162) (37,162) (37.162) (37,162) (37.162)
Operating Qf3nts
Net cash provided by (used for) noncaollal f1nancinQ act:. 38076 (37162) (371621 (37162) (37,162j /37,162) (37,162)

CASH FLO'NS FROM CAPITAL AND RELA,TED FiNANCING ACT..


Proceeds from bonds, loans and capital leases 13,079,593 9,175.000
Debt 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~ent fees (286,668) (841) (17,715) (17,715) (17,715) (17,715) (17,715)
Proceeds from advances \0 other funds
Net cash provided by (used for) ctIpilal and related fin. act. ___10,865,633 (9,Sn,584) _ _C9,~,154) (1,904,122) (2,283,604) /2.277,035) (2,284,342)

CASH FLOWS FROM INVESTING ACTIVITIES:


Interest received 249,093 1,322,902 631,471 394,343 400,000 400.000 400,827
Purchase of investments
Net ctIsh provlded by (used. for) Investing activities 249093 1322902 631471 394 343 400 000 400 000 400827

Netlncreasel(deaease) In cash and cash &Clulvalents 12,445,450 (8.001,497) (7,904,238) 188,542 3 27,572 21,092

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 8264698 20710,148 12708 651 4804413 4992955 4992958 5020530

CASH AND CASH EQUIVALENTS, END OF PERIOD" S 20 710 148 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 and casn equivalents • there are certain restrictions on cash. At September 30, 2010, restricted casn
was $10,103,607. $7,897.613 was restricted lor capital projects and $2,205,994 was restricted for bond payments
and bond reserve accounts.

3J9J2011 C:\OOCUME-1~lblatte\L0CALS-1\Temp\XPgrpwlse\parkln9 FacJlitles Finandal Stataments (Incl proJectionsU.Xls\Cash Flow (IndJrect)


4:13PM
DRAFT - FOR DISCUSSION

City of Columbia, Missouri


Parking Facilities Fund
Current Debt - 2006 SO' and 2009 BABs
(Debt Outstanding at September 30,2010)

Fiscal Year Principal Interest Total P&I BABs Subsidy Net P&I

2011 555,000 907,826 1,462,826 250,211 1,212,615


2012 570,000 885,326 1,455,326 250,211 1,205,115
2013 595,000 862,026 1,457,026 250,211 1,206,815
2014 615,000 837,058 1,452,058 250,211 1,201,847
2015 650,000 807,739 1,457,739 250,211 1,207,528
2016 685,000 774,364 1,459,364 250,211 1,209,153
2017 575,000 745,169 1,320,169 247,352 1,072,817
2018 595,000 720,458 1,315,458 241,468 1,073,990
2019 615,000 694,505 1,309,505 235,254 1,074,251
2020 635,000 667,098 1,302,098 228,684 1,073,414
2021 655,000 638,258 1,293,258 221,766 1,071,492
2022 680,000 607,192 1,287,192 212,517 1,074,675
2023 700,000 573,810 1,273,810 200,833 1,072,977
2024 725,000 538,623 1,263,623 188,518 1,075,105
2025 750,000 500,435 1,250,435 175,152 1,075,283
2026 775,000 459,641 1,234,641 160,874 1,073,767
2027 805,000 415,967 1,220,967 145,589 1,075,378
2028 835,000 369,228 1,204,228 129,230 1,074,998
2029 865,000 320,777 1,185,777 112,272 1,073,505
2030 900,000 269,575 1,169,575 94,351 1,075,224
2031 935,000 215,443 1,150,443 75,405 1,075,038
2032 970,000 157,790 1,127,790 55,227 1,072,563
2033 1,010,000 96,410 1,106,410 33,743 1,072,667
2034 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 issue


and a refunding of the 96 issue.

3/9/2011 C:IDOCUME-1\jlblatleILOCALS-1ITempIXPgrpwiseIParking Facilities Financial Statements (inci. projectionsL1.xlslCurrent Debt


4:13 PM
DRAFT - FOR DISCUSSION

City of Columbia, Missouri


Parking Facilities Fund
Future Debt - 25 Year, Avg Annual =$687,527
Average Coupon Rate =5.604573%

Fiscal Year Principal Interest Total P&I

2011 0 0 0
2012 110,000 233,419 343,419
2013 225,000 464,638 689,638
2014 225,000 460,137 685,137
2015 235,000 454,513 689,513
2016 240,000 447,462 687,462
2017 245,000 440,263 685,263
2018 255,000 431,687 686,687
2019 265,000 421,488 686,488
2020 275,000 410,887 685,887
2021 290,000 398,513 688,513
2022 300,000 384,737 684,737
2023 320,000 369,738 689,738
2024 335,000 353,738 688,738
2025 350,000 336,988 686,988
2026 370,000 318,612 688,612
2027 390,000 298,263 688,263
2028 410,000 276,812 686,812
2029 435,000 254,263 689,263
2030 460,000 229,250 689,250
2031 485,000 202,800 687,800
2032 515,000 173,700 688,700
2033 545,000 142,800 687,800
2034 575,000 110,100 685,100
2035 610,000 75,600 685,600
2036 650,000 39,000 689,000

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

3/9/2011 C:\DOCUME-1~lblatte\LOCALS-1\Temp\XP9rpwise\Parkin9 Facilities Financial Statements (inc!. projectionsL1.xls\Future Debt 25 Year


4:14 PM
DRAFT - FOR DISCUSSION

City of Columbia, Missouri


Parking Facilities Fund
Future Debt - 20 Year, Avg Annual = $757,635
Average Coupon Rate = 5.245959%

Fiscal Year Principal Interest Total P&I

2011 o o o
2012 165,000 216,081 381,081
2013 330,000 428,863 758,863
2014 335,000 422,262 757,262
2015 345,000 413,888 758,888
2016 355,000 403,537 758,537
2017 365,000 392,888 757,888
2018 380,000 380,112 760,112
2019 390,000 364,913 754,913
2020 410,000 349,312 759,312
2021 425,000 330,863 755,863
2022 445,000 310,675 755,675
2023 470,000 288,425 758,425
2024 490,000 264,925 754,925
2025 515,000 240,425 755,425
2026 545,000 213,388 758,388
2027 575,000 183,412 758,412
2028 605,000 151,788 756,788
2029 640,000 118,512 758,512
2030 675,000 81,713 756,713
2031 715,000 42,900 757,900

9,175,000 5,598,882 14,773,882

3/9/2011 C:\DOCUME-1~lblatte\LOCALS-1\Temp\XPgrpwise\Parking Facilities Financial Statements (inc!. projectionsL1.xls\Future Debt 20 Year


4:14 PM

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