Table 12: Twenty-Year Cash Flow Projection, Year-of-Expenditure Dollars (Millions)

Fiscal Year

Actual 1994

Actual 1995

Actual 1996

Actual 1997

Actual 1998

Budget 1999

2000

2001

2002

2003

2004

2005

2006

Operating

Operating Revenue (see Table 11)

$107.3 $115.9 $123.4 $132.4 $141.8 $152.6 $163.3 $169.8 $175.8 $181.9 $188.9 $196.2 $205.4

O&M Expenses (see Table 10)

$111.9 $117.3 $122.8 $127.2 $132.4 $138.4 $151.6 $158.3 $164.6 $171.2 $178.8 $186.7 $193.4

Balance from Operations

$(4.6) $(1.4) $0.6 $5.2 $9.4 $14.2 $11.8 $11.5 $11.2 $10.8 $10.1 $9.5 $12.1

Capital

Capital Revenue (see Table 8)

$189.2 $222.6 $286.5 $281.5 $214.7 $202.6 $178.8 $185.9 $198.5 $278.3 $280.1 $284.0 $242.1

Capital Expenditures (see Table 8)

$148.4 $171.9 $228.1 $231.2 $206.7 $152.1 $125.9 $140.4 $139.3 $202.2 $213.5 $232.1 $198.6

Debt Service Costs (see Table 8)

$39.8 $44.0 $51.4 $57.7 $57.7 $57.7 $57.7 $57.7 $57.7 $60.5 $61.9 $63.3 $63.3

Change In Capital Funds

$1.0 $6.7 $7.1 $(7.4) $(49.6) $(7.2) $(4.7) $(12.2) $1.5 $15.7 $4.7 $(11.3) $(19.7)

Cash Balance

Beginning Cash Balance

$189.9 $186.3 $191.6 $199.3 $197.1 $156.9 $164.0 $171.0 $170.4 $183.1 $209.6 $224.5 $222.7

Change to Cash Balance

$(3.6) $5.3 $7.6 $(2.2) $(40.2) $7.1 $7.1 $(0.7) $12.8 $26.4 $14.9 $(1.8) $(7.7)

Closing Cash Balance

$186.3 $191.6 $199.3 $197.1 $156.9 $164.0 $171.0 $170.4 $183.1 $209.6 $224.5 $222.7 $215.0


Fiscal Year

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Operating

Operating Revenue (see Table 11)

$216.8 $227.3 $236.0 $245.2 $254.7 $264.8 $275.0 $285.6 $296.7 $308.4 $320.3 $332.8 $345.8

O&M Expenses (see Table 10)

$210.4 $219.3 $228.6 $238.2 $248.3 $258.8 $269.7 $281.1 $293.0 $305.4 $318.3 $331.7 $345.8

Balance from Operations

$6.3 $8.0 $7.4 $6.9 $6.5 $6.0 $5.3 $4.5 $3.8 $3.0 $2.0 $1.1 $0.0

Capital

Capital Revenue (see Table 8)

$198.3 $204.7 $211.0 $216.4 $222.2 $228.5 $234.7 $241.1 $248.1 $255.6 $263.1 $270.8 $278.9

Capital Expenditures (see Table 8)

$123..3 $136.7 $157.7 $163.4 $164.8 $172.0 $179.6 $187.5 $195.8 $204.6 $213.8 $223.4 $233.5

Debt Service Costs (see Table 8)

$63.3 $63.3 $63.3 $63.3 $63.3 $63.3 $63.3 $58.0 $52.8 $52.8 $52.8 $48.6 $43.5

Change In Capital Funds

$11.8 $4.7 $(9.9) $(10.2) $(5.9) $(6.8) $(8.1) $(4.4) $(0.5) $(1.7) $(3.4) $(1.1) $1.9

Cash Balance

Beginning Cash Balance

$215.0 $233.1 $245.8 $243.3 $240.0 $240.6 $239.8 $237.0 $237.0 $240.3 $241.6 $240.3 $240.3

Change to Cash Balance

$18.1 $12.7 $(2.5) $(3.3) $0.6 $(0.8) $(2.8) $0.0 $3.2 $1.4 $(1.4) $(0.0) $1.9

Closing Cash Balance

$233.1 $245.8 $243.3 $240.0 $240.6 $239.8 $237.0 $237.0 $240.3 $241.6 $240.3 $240.3 $242.2