CWLP FINANCIAL PRESENTATION FY2021 Quarter 1 Financial Update - - PowerPoint PPT Presentation

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CWLP FINANCIAL PRESENTATION FY2021 Quarter 1 Financial Update - - PowerPoint PPT Presentation

May 15, 2023 279 likes •540 views

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

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SLIDE 1

CWLP FINANCIAL PRESENTATION FY2021 Quarter 1 Financial Update

Data Through May 31, 2020

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SLIDE 2

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
  • f Cash

Cash: 93 93 da days ys

  • Mo

Moody’s ’s Days o

  • f Cash

Cash: : 150 150 da days ys

  • Includes Restricted ERIRF of $21.5M

ELECTRIC FUND - FINANCES

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SLIDE 3

ELECTRIC FUND CASH BY MONTH

60 DAYS CASH = $29.1 MILLION

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SLIDE 4

ELECTRIC FUND DAYS OF CASH

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SLIDE 5

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
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SLIDE 6

ELECTRIC FUND REVENUE COMPARISON

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SLIDE 7

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%)

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SLIDE 8

ELECTRIC FUND EXPENSE COMPARISON

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SLIDE 9

ELECTRIC FUND DEBT COVERAGE RATIO HISTORY YEAR END

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SLIDE 10

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

  • nly. Debt Coverage Ratio is based upon a full 12

months.

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SLIDE 11

ELECTRIC FUND DEBT COVERAGE RATIO BY MONTH WITH PILOT INCLUDED

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SLIDE 12

ENVIRONMENTAL AND REGULATORY INITIATIVES AND REBATE FUND (ERIRF)

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SLIDE 13

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
  • ody’s D

s Days s of

  • f Ca

Cash sh: 54 4 days

WATER FUND - FINANCES

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SLIDE 14

WATER FUND CASH BY MONTH

60 DAYS CASH = $3.8 MILLION

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SLIDE 15

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.

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SLIDE 16

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

  • 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%)

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SLIDE 17

WATER FUND REVENUE COMPARISON

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SLIDE 18

WATER FUND EXPENSE COMPARISON

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SLIDE 19

WATER FUND DEBT COVERAGE RATIO HISTORY YEAR END

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SLIDE 20

AS O OF F MA MAY F FY20 Y2021

WATER FUND DEBT COVERAGE RATIO

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

(Year E End d 1.25x)

1.2 .21x 1x Debt ebt S Ser ervi vice Co Cover erage (After A

Auxil iliary y Service ces) s)

0.99x 0.99x

* The quarterly calculation is for internal tracking only. Debt Coverage Ratio is based upon a full 12 months.

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SLIDE 21

WATER FUND DEBT COVERAGE RATIO BY MONTH AFTER AUXILIARY SERVICES

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SLIDE 22

CWLP LABOR BUDGET

LABOR COSTS THROUGH MAY FY2021

(INCLUDING IMRF and FICA)

  • Water Fund
  • Budget To Date

$ 3.1 million

  • Expense To Date

$ 2.8 million

  • Variance

$ 0.3 million ~ 9%

  • Electric Fund
  • Budget To Date

$ 12.5 million

  • Expense To Date

$ 11.0 million

  • Variance

$ 1.5 million ~ 11.8%

  • CWLP TOTAL LABOR COSTS ARE $1.8 MILLION OR 11.3% UNDER BUDGET
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SLIDE 23

 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
  • ptions 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

FINANCIAL ASSISTANCE-COVID 19

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SLIDE 24

CWLP FINANCIAL PRESENTATION

Ques estio tions