Attachment

ATTACHMENT #1 Utility Committee Meeting of 11/10/2008 City of Dover Electric Project Financing November 3, 2008 Prepared by Finance Department S00T/OT/TT FO SuN20Vq son TUMMIOD AUTH], 1# LNGAINHOVILV

Project Financing - FYO9 Budget Fiscal Year FUNDING SOURCES 2009 i Beginning Budget Balance BW Transfer from Operating Fund Beginning Budget Balance i Depreciation Reserve Transfer from Operating Fund a. M Future Capacity Reserve Depreciation Reserve pasty Future Capacity Reserve HW Revenue Fund Bond Proceeds Revenue Fund Bond Proceeds I State Reimbursements State Reimbursements DEMA Grants DEMA Grants Interest Earnings Total Funding $18,576,307 Bi Interest Earnings Ending Budget Balance - Bond Proceeds § : Ending Budget Balance $ 5,395,920

Project Financing - Revised FYO9 Revised Fiscal Year FUNDING SOURCES 2009 Beginning Budget Balance Transfer from Operating Fund Beginning Budget Balance Transfer from Operating Fund Depreciation Reserve : M Revenue Fund Bond Proceeds B Depreciation Reserve Revenue Fund Bond Proceeds ; I State Reimbursements State Reimbursements DEMA Grants Interest Earnings Total Funding $22,127,390 Ending Budget Balance - Bond Proceeds $ 1,376,258 Ending Budget Balance $ 1,403,772 | DEMA Grants B |nterest Earnings

2008 Bond Proceeds Use of Bond Proceeds 69kv Feeder Lines 3 & 4 - Cartanza Substation St. Jones Substation Horsepond Road Substation - Transformer Pollution Remediation at McKee Run Plant Pollution Remediation - Fuel Inventory & Testing Pollution Remediation CEMS Upgrades Unit 3 Pollution Remediation COMS Upgrades McKee Contingency for bonded projects Debt Service Reserve Fund Cost of Issuance Total Bond Issue Project Related Spent through June 30, 2008 - Eligible Proceeds for Use in 2009 Budgeted Estimate $ 9,778,062 6,208,777 1,020,000 2,493,141 2,190,000 510,000 $22,200,000 Revised Estimate $ 9,778,082 6,208,777 1,099,000 2,000,555 327,186 50,000 30,000 1,621,400 285.000 $22,200,000 In-Eligible Eligible Cost Cost $ 1,382,355 $ 8,395,727 58.717 6,150,060 - 1,099,000 2,000,555 390,000 50,000 30,000 1,378,258 1,621,400 285,000 $ 1,441,072 $ 22,200,000 $ 20,293,600 (4.697.673) $ 15,595,927

Project Budgets

Electric Engineering Projected Revised Actual | Carry Forward Revised Budget Fiscal Year Fiscal Year | Fiscal Year | Fiscal Year Fiscal Year Fiscal Year CAPITAL PROJECTS 2008 2008 2008 2008 2009 2009 a Bs ee ee 69 KV Feeders 3 and 4 (Bond Financing) 5,821,262 5,623,930] 4,462,455 1,159,362 5,116,182 St Jones Substation (Bond Financing) 2,180,655 2,180,655 807,673 1,372,982 5,401,104 Horsepond 600 Transformer (Bond Financing) (was $616,000) 404,000 404,000 669,172 (265,172) 429,828 State Rt. 1 & State Rt. 9 Pole and Line Relocation 43,000 43,000 : 95,420 95,420 Distribution System Upgrades 300,000 400,000 383,521 : 500,000 Replacement of 69kv Breakers & Design 599.474 264,340 263,659 - 183,000 Lighting Project and Rehabilitation 143,639 143,639 123,066 : 50,000 Replace Substation Equipment - 40,000 38,658 - 40,000 Replace Switches - 23,000 22,676 - 23,000 North Street RTU - 24,000 21,217 - - College Road Substation Completion 2,895,170 2.895.170} 2.018.683 876,287 876,287 Governors Avenue Rebuild 2,068,260 2,068,260 114,078 1,954,182 1,954,182 Lebanon Transformer Completion 637,950 637,950 577,458 - - Transmission Relaying,Replacement & Calibrations 592,971 940,236 720,123 220,113 220,113 Distribution Capacitors - Overhead 112,500 109,825 109,825 : : Distribution Capacitors - Underground 112,500 234,100 162,856 71,244 71,244 College Road Capacitor 119,995 1,070 1,070 - - Mayfair Substation 69 kv Completion 261,100 261,100 260,925 Mayfair to Mid City Line 122,629 10,000 9.585 McKee Run Transformer 54.063 5.074 5.074 : Danner Farm Transformer - - : 45,000 Bond Issuance Expenses - - 21,956 Substation PT & CT Replacement Program 70,011 13,625 : - - Vehicles, Trucks, & Equipment 79,800 79,800 84.038 : 35,945 Subtotal Electric Engineering Division $ 16,618,979] | $ 16,402,774] $10,877,968] $ 5,484,418] [$ 15,041,305] | $ 9,556,887

Electric Generation Revised Actual Revised Fiscal Year | Fiscal Year Projected Fiscal Year Carry Forward Fiscal Year CAPITAL PROJECTS McKee Run Pollution Remediation - SNCR (Bond Financing) McKee Run Software & Compupter Upgrades - CEMS Unit 3 McKee Run Software & Compupter Upgrades - CEMS VanSant McKee Run Units 1, 2, & 3 COMS Replacement VanSant COMS Replacement McKee Run Fire Protection System McKee Run Fuel Cil Tank Inspection Subtotal Electric Generation Division Fiscal Year Budget Fiscal Year 2,600,000 30,000 30,000

All Other Electric Projects Projected Revised Actual | Carry Forward Revised Budget Fiscal Year Fiscal Year | Fiscal Year | Fiscal Year Fiscal Year Fiscal Year CAPITAL PROJECTS Electric Transmission & Distribution Projects: New Developments - UG Transformers New Developments - UG Conductors/Devices Electric Radio Read Meter Change-Out 558,625 Single Phase Meters - Vehicles, Trucks, & Equipment 42.178 Subtotal Electric Transmission Division $ 1,515,803 Electric Administration Projects: Vehicles, Trucks, & Equipment Security System for Admin Building Subtotal Electric Administration Division Electric Metering Division Vehicles, Trucks, & Equipment