Hist and Proj Operating Receipts FY 2011 2 17 2010 - DC Water
Hist and Proj Operating Receipts FY 2011 2 17 2010 - DC Water
Hist and Proj Operating Receipts FY 2011 2 17 2010 - DC Water
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Muon Hrcuueurs E lssues bt Deer w <strong>FY</strong> 2009 - <strong>2011</strong><br />
-<br />
474,m<br />
Id2Ø<br />
Series 1998 - Senior<br />
Series2003- Subordinate<br />
Series 20074 - Subord¡nate<br />
Series 20084 - Subordinate<br />
Series 20094 - Sen¡or<br />
Subtotal<br />
of Columbia GO Bonds<br />
DEBT SERVICE<br />
<strong>FY</strong> 2009 -<strong>2011</strong><br />
(ln $000's)<br />
I<br />
Ibd<br />
Í20¡o<br />
9,955 13,416 23,371<br />
- 8,890 8,890<br />
- 11,351 11,351<br />
4,460 14,450 18,910<br />
1,775 16,<strong>17</strong>6 <strong>17</strong>,951<br />
16,190 æ,282 80,472<br />
1,245 87 1,332<br />
---<br />
310 496 805<br />
37 12 ¡18<br />
346 507 853<br />
1,930 1,930<br />
- 6,097 6,097<br />
rs103,att<br />
I<br />
10,500 12,868 23,368<br />
- 8,890 8,890<br />
- 11,351 11,351<br />
5,585 14,249 19,831<br />
2,020 16,123 18,1¿13<br />
18,105 63,¡t8l El,5E6<br />
245 ¡tE 293<br />
320 485 805<br />
39948<br />
359 494 85:Ì<br />
- 5,502 5.502<br />
- 4,060 4,060<br />
_-:_ 11.059 11,059<br />
vil-5<br />
DEBT SERVICE<br />
Debt service is the fastest growing area of the operating budget<br />
due to <strong>DC</strong> WASA's $3.8 billion CIP (cash disbursements basis).<br />
. <strong>FY</strong> <strong>2010</strong> revised debt service is $15.9 million higher than <strong>FY</strong><br />
2009 actual debt service due to full year debt service<br />
payments on Series 2009A.<br />
. Assumes increasing commercial paper program to a minimum<br />
of $200 million<br />
. <strong>FY</strong> <strong>2011</strong> approved debt service is $12.7 million higher than<br />
<strong>FY</strong> <strong>2010</strong> revised primarily due to planned issuance of new<br />
debt.<br />
CAPITAL FINANCING PLAN<br />
<strong>DC</strong> WASA's comprehensive capital financíng plan contains two<br />
key goals: 1) minimize <strong>DC</strong> WASA's cost of capital <strong>and</strong> 2) increase<br />
operational fl exibil ity through:<br />
. lnterim financing<br />
. Permanent bond financing<br />
' Pay-go financing<br />
INTEREST RATE ASSUMPTIONS<br />
Future interest rate assumptions for ten year plan purposes are:<br />
. Variable rate<br />
- 3.25o/o (<strong>FY</strong> <strong>2010</strong>) <strong>and</strong> 1.75o/o (<strong>FY</strong> <strong>2011</strong>) plus fees<br />
. Fixed rate<br />
- 6.00/o (<strong>FY</strong> <strong>2010</strong> <strong>and</strong> <strong>FY</strong> 201 1) plus fees<br />
. For appropriations purposes, higher interest rates are<br />
assumed, as discussed in Section lV.<br />
BOND RATINGS<br />
. Moody's Aa3 Stable Outlook<br />
. St<strong>and</strong>ard & Poor's AA Stable Outlook<br />
. Fitch Ratings AA- Positive Outlook
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