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07-27-2016 HUCMMINUTES Regular Meeting — Hutchinson Utilities Commission Wednesday, July 27, 2016 Call to order — 3:00 p.m. President Luhring called the meeting to order. Members present: President Donna Luhring; Secretary Mark Girard; Commissioner Anthony Hanson; Commissioner Robert Wendorff; Attorney Marc Sebora; General Manager Jeremy Carter. Absent: Vice President Monty Morrow Conflict of Interest None President Luhring added an agenda item to New Business: Appoint a Commissioner to replace Vice President Morrow on the Union Negotiations Committee. 2. Approve Consent Agenda a. Approve Minutes b. Ratify Payment of Bills A motion was made by Commissioner Hanson, seconded by Commissioner Wendorff to approve the Consent Agenda. Motion was unanimously carried. 3. Approve Financial Statements Jared Martig presented the financial statements. After discussion, a motion was made by Secretary Girard, seconded by Commissioner Hanson to approve the financial statements. Motion was unanimously carried. 4. Open Forum 5. Communication a. City Administrator — Matthew Jaunich i. The City Council approved the construction of an apartment complex to be built south of Ridgewater College. Construction is expected to start in September. b. Divisions i. Dan Lang — 1. Busy generating. Transalta called on the energy contract 16 out of 17 days this month. ii. Randy Blake — 1. Busy keeping equipment running. iii. Dave Hunstad — 1. Busy addressing issues related to outages the last couple months. iv. Jared Martig - 1. Worked on documentation for the discussion of creating a cash reserve policy. v. John Webster - 1. The Minnesota Office of Pipeline Safety conducted an audit last week of the Natural Gas Division to include the Hutchinson Utilities distribution records, transmission records, distribution field inspection, transmission field inspection, Brownton distribution records, Brownton field inspection, Brownton's Distribution Integrity Management Program and Hutchinson's Distribution Integrity Management Program. All went well. vi. Brenda Ewing — 1. Nothing to report. c. Legal — Attorney Sebora i. Nothing to report. d. General Manager — Jeremy Carter i. Working on items for the Union negotiations next week. ii. Attended a panel discussion with Dave Hunstad last week in Owatonna. They were collecting feedback from municipal utilities. iii. Working on capital expenditures and the 2017 draft budget. 6. Policies a. Review Policies i. Jury, Witness or Board Duty ii. Volunteer Fire or Rescue Squad Duty iii. Deposit Requirement — Residential iv. Deposit Requirement — Commercial/Industrial No changes were recommended. b. Approve Changes i. School Conference Leave Changes were made to be consistent with the Minnesota State Statute. ii. Bone Marrow Donation Leave Changes were made to be consistent with the Minnesota State Statute to include the addition of time off for organ or partial organ donation. A motion was made by Commissioner Hanson, seconded by Commissioner Wendorff to approve the changes to School Conference Leave and Bone Marrow Donation Leave. Motion was unanimously carried. (Changes attached.) 6 7. Unfinished Business a. Update on Pack Gas Discussions GM Carter and John Webster are coordinating a meeting time with New Ulm's staff to discuss their calculations. 8. New Business a. Approve BS&A Software Agreement The City IT Director, Tom Kloss, presented the BS&A Software Agreement. In early 2015 a project began to reduce the operating budget through reduction in software costs. In July 2015, a first run proposal was given by BS&A with a full demo in October 2015. After review with BS&A, Hutchinson Utilities management recommends approving a contract with BS&A. The new software would replace all of the current functions provided by LOGIS. Payback would be close to 32 months at which time the yearly savings will be roughly $80,000. The first payment of $75,210 would be due in 2016 upon execution of the contract. The remaining two payments will be due in 2017 and can be planned for through the operating budget. After discussion, a motion was made by Secretary Girard, seconded by Commissioner Hanson to approve the BS&A software agreement. Motion was unanimously carried. (Agreement attached). b. Discuss Operating and Reserve Policy Jared Martig distributed a handout with the purpose of beginning the discussion on creating a cash reserve policy, how much operating cash is needed, and explaining RUC's current funds. GM Carter requested the Board review the information and this item will be brought back for discussion in a future commission meeting. (Handout attached.) c. Appoint a Commissioner to Replace Vice President Morrow on the Union Negotiations Committee. President Luhring and Vice President Morrow are the two members currently on the committee. A motion was made by Secretary Girard, seconded by Commissioner Wendorff nominating Commissioner Hanson to replace Vice President Morrow on the Union Negotiations Committee. Motion was unanimously carried. 9. Adjourn There being no further business, a motion was made by Commissioner Hanson seconded by Commissioner Wendorff to adjourn the meeting at 3:43 p.m. Motion was unanimously carried. J R ATTEST: /Lt dz:t Donna Luhring, President 3 Mark/Girard, Secretary EXEMPT SCHOOL CONFERENCE LEAVE Any employee who has worked half-time or more f f fne.a than twelve "" eenseeutive months, may take unpaid leave for up to a total of sixteen (16) hours during any wheel -yeas 12 -month period to attend school conferences or classroom activities related to the employee's child (under 18 or under 20 and still attending secondary school), provided the conference or elassr-eem school related activities cannot be scheduled during non -work hours. When the leave cannot be scheduled during non -work hours and the need for the leave is foreseeable, the employee must provide reasonable prior notice of the leave and make a reasonable effort to schedule the leave so as not to disrupt unduly the operations of HUC. Employees may choose to use vacation leave hours or compensatory time for this absence, but are not required to do so. NON-EXEMPT SCHOOL CONFERENCE LEAVE Any employee who has worked half-time or more fee- more than twelve ( 2) eenseeutivemonths, may take unpaid leave for up to a total of sixteen (16) hours during any sc-he 12 -month period to attend school conferences or classroom activities related to the employee's child (under 18 or under 20 and still attending secondary school), provided the conference or elassreem school related activities cannot be scheduled during non -work hours. When the leave cannot be scheduled during non -work hours and the need for the leave is foreseeable, the employee must provide reasonable prior notice of the leave and make a reasonable effort to schedule the leave so as not to disrupt unduly the operations of HUC. Employees may choose to use vacation leave hours or compensatory time for this absence, but are not required to do so. EXEMPT BONE MARROW/ORGAN DONATION LEAVE Employees working an average of 20 or more hours per week may hake must be wanted paid leave, not to exceed 40 hours unless agreed to by HUC, to undergo medical procedures to donate bone marrow or to donate an organ or partial organ. HUC may require a physician's verification of the purpose and length of the leave requested . If there is a medical determination that the employee does not qualify as a bone marrow or organ donor, the paid leave of absence granted to the employee prior to that medical determination is not forfeited. NON-EXEMPT BONE MARROW/ORGAN DONATION LEAVE Employees working an average of 20 or more hours per week may4ake must be granted paid leave, not to exceed 40 hours unless agreed to by HUC, to undergo medical procedures to donate bone marrow or to donate an organ or nartial organ. HUC may require a physician's verification of the purpose and length of the leave requested to donate bo::_ . afr-,,,. If there is a medical determination that the employee does not qualify as a bone marrow or organ donor, the paid leave of absence granted to the employee prior to that medical determination is not forfeited. a Proposal for Software and Services, Presented to... Hutchinson Utilities, McLeod County MN July 18, 2016 Quoted by: Dan J. Burns, CPA e _ Thank you for the opportunity to quote our software and services. At BS&A, we are focused on delivering unparalleled service, solutions, support, and customer satisfaction. You'll see this in our literature, but it's not just a marketing strategy... it's a mindset deeply embedded in our DNA. Our goal is to provide such remarkable customer service that our customers feel compelled to remark about it. We are extremely proud of the many long-term customer relationships we have built Our success is directly correlated with putting the customer first and consistently choosing to listen. Delivering unparalleled customer service is the foundation of our company. BS&A Software 14965 Abbey Lane Bath MI 48808 (855) BSA -SOFT / fax (517) 641-8960 bsasof twore. com Contents Please return all pages, retaining a copy for your records. Cost Summary; Totals..... 3, 4, 5 Annual Service Fees..... 6 Optional Items..... 7 Acceptance..... 8 Contact Information..... 9 Attachments Please retain for your records. Hardware Requirements SQL Server Pricing .�% Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsosoftwore.com Page 2 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016. Cost Summary Software is licensed for use only by municipality identified on the cover page. If used for additional entities or agencies, please contact BS&A for appropriate pricing. Prices subject to change if the actual count is significantly different than the estimated count. Applications, New Purchase General Ledger .NET Cash Receipting .NET Accounts Payable .NET Miscellaneous Receivables .NET Purchase Order .NET Fixed Assets .NET Inventory Management .NET Work Order .NET Payroll .NET Timesheets .NET Utility Billing .NET 7,100 utility customers (gas & electric) AccessMyGov/Internet Services AccessMyGov/Employee Self -Service Please select the features you would like to use. All of the features can be included without impacting the Annual Service Fee or Project Management and Implementation Planning Fee. ® Personal EmDlovee. Financial. and YTD Info: This requires the use of Payroll .NET. Enables employees to: view/request changes to "master" information such as dependents, addresses, and W4 information; view and reprint check and W2 history, and withholding and direct deposit information; view YTD totals and leave balances. Open enrollment is also available, but requires the use of Human Resources .NET. ® EmDlovment ODoortunities: This requires the use of Human Resources .NET. Enables users to view currently available job postings. ® Timesheet Entrv: My Timesheets: This requires the use of Timesheets .NET. 'Timesheet Entry" enables employees to enter timesheet info for other staff, and enables managers to view timesheets for their staff. "My Timesheets" enables employees to enter their own time. Subtotal $5,875 $4,980 $4,980 $4,980 $4,980 $4,980 $4,980 $4,980 $6,450 3,565 $28,400 $1,500 $3,875 $84,525 Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsasoftwore.com Page 3 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016. Data Conversions Convert existing Logis data to BS&A format. Conversion prices provided for estimation purposes only. Firm pricing, as well as scope of data conversion to be determined upon a review of data provided. BS&A assistance with extracting data from current systems can be provided for an additional fee of $100/hr. General Ledger $51000 Cash Receipting $4,500 Accounts Payable $4,500 Fixed Assets $4,500 Inventory Management $4,500 Payroll $6,000 Utility Billing $25,560 Database Setup: Miscellaneous Receivables (Setup of Billing Items, Penalties) $1,650 Work Order (Setup of Work Order Types, Facilities, Assets, Equipment, Materials, Workers [if not using Employees $2,000 as Workers]) Subtotal $58,210 No conversion to be performed for: Purchase Order .NET Timesheets .NET Connection Requirements AccessMyGov requires a high-speed internet connection (cable modem or DSL). BS&A requires that all customers utilizing AMG Service have either an on -staff IT person, or grant BS8tA a remote terminal services ability to the machine on which the service is installed. This is necessary to ensure service availability and quality. - - - ------- 7. Customizations Allow for the entry of 'Lead Times' for inventory items, as well as reporting that will compare the expected delivery $0 date, with the actual delivery dates Allow for the 'Inventory Photo' to be displayed on the main screen of the inventory item $0 Allow for'Sales Tax' to be tracked as a separate total on a PO, rather than included in each individual line item $0 Integrate with LaserLite wireless barcode scanner $0 Subtotal $0 Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsasoftwore.com Page 4 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016. Project Management and Implementation Planning Services include: - Analyzing customer processes to ensure all critical components are addressed. - Creating and managing the project schedule in accordance with the customer's existing processes and needs. - Planning and scheduling training around any planned process changes included in the project plan. - Modifying the project schedule as needed to accommodate any changes to the scope and requirements of the project that are discovered. - Providing a central contact between the customer's project leaders, developers, trainers, IT staff, conversion staff, and other resources required throughout the transition period. - Installing the software and providing IT consultation for network, server, and workstation configuration and requirements. - Reviewing and addressing the specifications for needed customizations to meet customer needs (when applicable). $17,000 Implementation and Training - $1,000/day - Days quoted are estimates; you are billed for actual days used Services include: - Setting up users and user security right$ for;each.ppplicdlton " - Performing final process and procedure -review, - Configuring custom settings in each application` to, fit the needs of the ''customer,, - Setting up application integration and workflow methods_ - Onsite verification of converted data for balancing and auditing purposes - Training and Go -Live 0 4,"'kays: Software Setup 3 131000 General Ledger .NET Days: 2 $2,000 Cash Receipting .NET Days:1 $1,000 Accounts Payable .NET Days: 2 $2,000 Miscellaneous Receivables .NET Days:1 $1,000 Purchase Order .NET Days: 3 $3,000 Fixed Assets .NET Days:1 $1,000 Inventory Management .NET Days: 1 $1,000 Work Order .NET Days: 2 $2,000 Payroll .NET Days: 5 $5,000 Timesheets .NET Days: 3 $3,000 Utility Billing .NET Days: 24 $24,000 AccessMyGov/Employee Self -Service Days: 1 $1,000 Total: 49 Subtotal $49,000 Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsasoftware.com Page 5 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016 Cost Totals Not including Annual Service Fees Applications $84,525 Data Conversions $58,210 Project Management and Implementation Planning $17,000 Implementation and Training $49,000 Total Proposed $208,735 Travel Expenses $26,000 Grand Total (with Travel Expenses) $234,735 YY ry,,.y. ��.. Payment Schedule AlRw, A in Payment: $75,210 to be invoiced upon execution of this agreement. 2nd Payment: $84,525 to be invoiced at start of training. 3'd Payment: $75,000 to be invoiced upon completion of training. Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsosoftwore.com Page 6 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016 Annual Service Fees, New Purchases Unlimited service and support during your first year with the program are included in your purchase price. Thereafter, Service Fees are billed annually. BS&A Software reserves the right to increase the Annual Service Fee by no more than the yearly Consumers Price Index (CPI). General Ledger.NET $1,180 Cash Receipting .NET $1,000 Accounts Payable .NET $1,000 Miscellaneous Receivables .NET $1,000 Purchase Order .NET $1,000 Fixed Assets .NET $1,000 Inventory Management .NET $1,000 Work Order .NET $1,000 Payroll .NET $1,290 Timesheets .NET $710 Utility Billing .NET $5,680 AccessMyGov/Internet Services $1,500 AccessMyGov/Employee Self -Service $780 Total Annual Service, New Purchases $18,140 * "T Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsasoftware.com Page 7 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016. Optional Item(s) Cash Receipting Hardware Epson Series Receipt Printer* Epson Series Receipt Printer* w/Check Scan APG Cash Drawer** Honeywell Hyperion 1300g Linear -Imaging Scanner Credit Card Reader Quantity $750 x _ $ $1,100 x _ $ $250 x _ $ $250 x _ $ $75 x _ $ Cost This will add $ to the Total Proposed. *IMPORTANT. The receipt printer must be plugged into the USB port on one workstation (not your server). This printer is not to be shared with other workstations. If more than one workstation will be used for receipting, please consider purchasing more than one receipt printer. Ithaca receipt printers are not compatible with Vista or Windows Z The Epson Series replaces the Ithaca brand and is fully compatible with those operating°systems, **if using a previously -purchased receipt printer'with• the APG Cash Drawer, which brand, will, be used with the drawer? _Epson _Ithaca _Other (please specify) Please provide the number of cash drawers that will be hooked, up tote print, „ Program Customization BS&A strives to provide a flexible solution that can be tailored to each municipality's needs. However, in some cases, custom work may be required. Typical examples include: custom payment import/lock box import custom OCR scan -line custom journal export to an outside accounting system custom reports If you require any custom work, please let us know so that we can better understand the scope of your request and include that in a separate proposal. Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsasoftwore.com Page 8 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016. Acceptance Signature constitutes... 1. An order for products and services as quoted Quoted prices do not include Program Customization or training beyond the estimated number of days 2. Agreement with the proposed Annual Service Fees 3. Acceptance of BS&A's hardware recommendations required to efficiently run the .NET applications Signature Date SS&A PLEDGE. We offer a one-year, risk -reversal pledge on our software. If, up to a year after installation, you are not ,,. �.�. rte. x �r., .. � , happy with our software and service, you can return ou'r'§oftw re' for 4f 11 refund. Returning Accepted Proposal to BS&A Please return the entire proposal, with signature/date (this page) and contact information (next page) filled out, by any of these methods: Mail: BS&A Software 14965 Abbey Lane Bath, MI 48808 Fax: (517) 641-8960 Email: dburns@bsasoftware.com Once your proposal is received, a BS&A representative will contact you to begin the scheduling process. Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsosoftwore.com Page 9 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016. Contact Information If any mailing addresses are PO Boxes, please also provide a Street Address for UPS/Overnight mail. If additional contacts need to be submitted, please make a copy of this page. Key Contact for Implementation and Project Management Name Title Phone/Fax Email Mailing Address City, State, Zip IT Contact Name Title Phone/Fax Email Mailing Address City, State, Zip Questions? Please call Dan J. Burns, CPA at (855) 272-7638 or email dburns@bsosoftwore.com Page 10 of 10 Prices good for a period of 90 days from date on quote. Hutchinson Utilities, McLeod County MN. Quoted July 18, 2016 Purpose: To begin discussion on a cash reserve policy, how much operating cash is needed, and explain our current funds. An adopted policy that includes targets and strategies to implement if cash is below the target is something all bond rating agencies look upon favorably. Capital Expenditures Current Year The fund is filled at the end of every year to reflect the next year's capital expenditures as approved in the budget. The amount gets lowered every month to reflect how much was spent on capital expenditures for that month so the remaining amount equals what is left to spend on capital projects until the end of the year. For example, the amount at 12/31/15 was equal to the budgeted 2016 capital expenditures. The amount currently in this account is that total minus the amount actually spent through the first 6 months of the year. This account was requested by commissioners 5-6 years ago. This would be a good account to tie into our Cap Ex project to come up with a funding and saving mechanism. The way this account is used now just reflects the total of the work order summary in the financial statements so a total amount could just be added to that report and this account could be used for a more comprehensive capital expenditures financing plan. Examples: 1) Owatonna currently sets aside the average next five years capital plan that they don't intend to finance. 2) Rochester uses an average of the first two years of their five year capital plan. They also set aside cash for future individual projects in their own separate accounts. Payment in Lieu of Taxes One year's worth of the PILOT is what is funded in this account. The current amount is $1,305,256 which is the current year's payment to the city. The idea behind this account is that we would always have the funds to pay our PILOT to the City of Hutchinson. Rate Stabilization — Electric The electric rate stabilization fund is used to help mitigate charging power cost adjustments or issuing credits to customers every month based on a formula for the cost of acquiring power against a base number ($.054 KWHR). The minimum value in the account before charging a power cost adjustment is $400,000 and the maximum value before issuing credits is $1,200,000. Rate Stabilization — Natural Gas The natural gas rate stabilization fund is used to help mitigate charging fuel cost adjustments or issuing credits to customers every month based on a formula for the cost of acquiring natural gas against a base number ($5.25/MCF). The minimum value in the account before charging a fuel cost adjustment is $200,000 and the maximum value before issuing credits is $600,000. Bond & Interest Payment 2003 & 2012 (2 Accounts) These are two accounts that are treated as an escrow account. A monthly journal entry is made to place money into these accounts to cover the bond payments when they are due. These monthly amounts are removed from the operating account. These two accounts are truly restricted accounts that cannot be used for other purposes. Catastrophic Funds This account is equal to our highest deductible on Boiler and Machinery insurance which is $500,000. As we look at other insurance options such as interruptibility this amount may need to change. Debt Service Reserve Fund The debt service reserve fund is another restricted account. The amount is $2,188,694.02 which is equal to our final bond payment in December 2026. Cash in Bank (Operating Account) Our current operating reserves are a little under $10 million. The old budget books called for 1.5 times our highest month expenses (around $4.5 million) but currently we are using 90 days of the 2016 budget ($8,834,654) for the Executive Reports. A more appropriate number we may be leaning towards would be 60 days ($5,889,770) Examples: 1) New Bern, NC uses 90 days. 2) Rochester uses 45 days. 3) Oklahoma Municipal Power uses 75 days. 4) East Grand Forks uses the highest 2 months operating expenses. 5) Cedar Falls, IA takes 4S days operating expenses minus depreciation and the following year's capital improvement projects. 6) Owatonna is a little more complicated. They use 38 days of Operations and Maintenance expenses, 38 days of Purchased Commodity expenses, their largest debt payment for the next year, 1% asset repairs for less than 50% depreciated, 2% for 50%-55% depreciated, and 3% for over 55% depreciated. 7) Franklin PUD combines 10% gross power costs, 25% capital costs, and 25% O & M expenses based on the current budget. Another important factor bond rating agencies look at is the strategies implemented by the board when cash reserves fall below the target. Most of them give the utility a two year time frame and include raising rates, cost reductions including deferments, reduce cash to the capital improvement plan, and charge additional fees or fee increases. Some additional funds other utilities use include. 1) Investment — Cash is set aside for future investments such as renewable projects or transmission projects. 2) Specific Project — Cash is saved for a specific larger capital improvement project. 3) Debt Management — Excess cash is used to pay down debt. 4) Retain for Longer -Term Rate Stability — Cash is saved to delay future rate increases. Hutchinson Utilities Commission Cash -Designations Report, Combined June 30, 2016 Excess Reserves Less Restrictions & Designations, Combined 1,160,453.01 1,116,625.46 43,827.55 YE YE YE YTV HUC 2013 2014 201S 2016 Taraet Debt to Asset 29.7% 28.8% 32.0% 31.2% Current Ratio 2.08 2.26 2.52 3.12 RONA 0.80% 0.05% 1.31% 1.35% Notes/Graphs: Change in Cash Balance (From 12/31/14 to 06/30/2016) Month End Electric Elec. Chanee Natural Gas Gas Chanee Total Total Chance Change in 6,774,075 10,345,083 17,119,158 12/31/2015 6,170,790 Balance, Balance, Cash/Reserve 3,598,821 2,571,969 6,765,165 2,272,208 Financial Institution Current Interest Rate Annual Interest June 2016 May 2016 Position Operating Funds: Savings, Checking, Investments varies varies varies 17,119,158.28 17,162,080.04 (42,921.76) Total Operating Funds 17,119,158.28 17,162,080.04 (42,921.76) Combined i:i Debt Reserve Requirements Covenants - sinking fund 1,022,995.72 -Bond 848,028.07 174,967.65 Debt Reserve Requirements Bond Covenants -1 year Max. P & 1 2,188,694.02 2,188,694.02 - Total Reserve Requirement 3,211,689.74 3,036,722.09 174,967.65 Excess Reserves Less Restrictions, Combined13,907,468.54 14,125,357.95 (217,889.41): Operating Reserve Requirement 90 days of 2016 Buda (currently 143 days w/o Design.) 8,834,653.98 8,834,653.98 Rate Stabalization Funds 979,462.28 1,130,664.18 (151,201.90) PILOT Funds Charter 1,305,256.00 1,305,256.00 Catastrophic Funds Risk Mitigation Amount 500,000.00 500,000.00 Capital Expense Requirement 2016 Capital Expenditure Budget 1,127,643.27 1,238,158.33 (110,515.06) Total Earmarked Funds 12,747,015.53 13,008,732.49 (261,716.96) Excess Reserves Less Restrictions & Designations, Combined 1,160,453.01 1,116,625.46 43,827.55 YE YE YE YTV HUC 2013 2014 201S 2016 Taraet Debt to Asset 29.7% 28.8% 32.0% 31.2% Current Ratio 2.08 2.26 2.52 3.12 RONA 0.80% 0.05% 1.31% 1.35% Notes/Graphs: I Cash as of 6/30/2015 was $13,426,064 which is an increase in cash of $3,693,094 in one year. Cash decreased slightly in June due in large part to the quarterly payment to the city for $329,021 and property and liability insurance of $75,676. Change in Cash Balance (From 12/31/14 to 06/30/2016) Month End Electric Elec. Chanee Natural Gas Gas Chanee Total Total Chance 6/30/2016 6,774,075 10,345,083 17,119,158 12/31/2015 6,170,790 603,285 9,037,373 1,307,710 15,208,163 1,910,995 12/31/2014 3,598,821 2,571,969 6,765,165 2,272,208 10,363,986 4,844,177 I Cash as of 6/30/2015 was $13,426,064 which is an increase in cash of $3,693,094 in one year. Cash decreased slightly in June due in large part to the quarterly payment to the city for $329,021 and property and liability insurance of $75,676. BS & A Purchase and Implementation neral Ledger sh Receipting =ounts Payable sc Receivables rchase Orders ed Assets ,entory Management I ty Billing :ess My Gov :essMy Gov E55 :al Purchase to Conversion eject Management and Implementation nning alementation and Training vel and Expenses )tal Year One Annual Service Fees Beginning Year 2 $1,180 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,290 $710 $5,680 $1,500 $780 $17,000 $49,000 $26,000 $234,7351 $18,140 LOGIS Annual Fees 2016 Calculating 2017 fees for BSA against 2016 LOGIS fees, the payback would take 32 months. Application Additional Fees Total Utility Billing $58,601 $266 $58,867 1DE Financial $12,492 $713 $13,205 HR/Payroll $11,440 $152 $11,592 Systems Development $15,684 289155 $15,684 Year 496740 Total $99,348 Calculating 2017 fees for BSA against 2016 LOGIS fees, the payback would take 32 months. LOGIS BS & A Year 99348 234735 135387 Year 198696 252875 54179 Year3 298044 271015 -27029 Year 397392 289155 -108237 Year 496740 307295 -189445 Calculating 2017 fees for BSA against 2016 LOGIS fees, the payback would take 32 months.