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Historical Financial Performance <br /> Review and document the historical financial performance of the sewer utility for up to six years, <br /> utilizing the financial statements. <br /> Financial Policies Evaluation. <br /> Review the financial policies that were utilized in the 2020 rate study, which will help serve as key <br /> boundary markers in the funding strategy scenarios (e.g., operating and capital reserves, capital <br /> funding strategies, and debt management). <br /> Capital Financing Framework. <br /> Set up the framework to evaluate various capital financing plans for the CIP.The analysis to include <br /> the ability to update key variables such as project costs, project timing, potential borrowing, and <br /> financing options, and resulting cash flow and cash balances. <br /> Operating Forecast. <br /> Forecast operating costs based on the most recent budget documents available. In addition, <br /> incorporate growth forecasts, integrate additional operating expenses, if any, resulting from the <br /> OP and any other known changes in operational requirements. <br /> Financial Strategy Analysis. <br /> Integrate financial policies, capital financing impacts, and the operating forecast to develop a <br /> "financial needs" forecast over the study period. <br /> Compare forecasted financial needs against forecasted revenue under the City's adopted multi- <br /> year rate ordinance to determine what level of balancing might be needed to keep the utility <br /> sufficiently funded throughout the study period. For example, some capital projects, capital <br /> programs, or operating programs may need to be delayed or reduced in scope to keep the utility <br /> funded on a standalone basis. <br /> 12.2 Meetings & Presentation Materials <br /> Prepare for and attend up to two (2) remote meetings with City/Murraysmith staff to review the <br /> draft analysis and presentation materials. Prepare for and attend up to one (1) remote workshop <br /> meeting with City staff to present study results. These are assumed to be remote meetings and <br /> have been budgeted accordingly (no travel). If restrictions on public gatherings ease during the <br /> study, we would be happy to attend onsite meetings, with a budget amendment to cover <br /> additional travel. <br /> City of Everett MURRAYSMITH 2023 Comprehensive Sewer Plan <br /> March 2021 22 <br />