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HomeMy WebLinkAboutAgenda Report - March 1, 2023 C-07CITY OF Z CALIFORNIA AGENDA ITEM C07 COUNCIL COMMUNICATION AGENDA TITLE: First and Second Quarters Fiscal Year 2022/23 Water, Wastewater and Electric Utility Department Financial Reports MEETING DATE: March 1, 2023 PREPARED BY: Deputy City Manager RECOMMENDED ACTION. Receive utility financial reports for the first and second quarters of Fiscal Year 2022/23. BACKGROUND INFORMATION. In accordance with the Lodi Municipal Code, quarterly financial reports are to be prepared for the Water, Wastewater, and Electric Utilities. Quarterly update presentations have been included in this report and a highlight of activities and progress is outlined below for each utility. Electric Utility Financial Highlights REVENUE is stable tracking at 57 percent of budget. ✓ Energy sales are tracking at 60 percent of budget. Energy sales tend to track higher during the early, warmer months of the fiscal year (i.e., July -September). EXPENSES are tracking at 50 percent of budget halfway through the year. ✓ Non -power operating expenses are tracking at 46 percent of budget. ✓ Power supply costs are tracking at 57 percent of budget. This budgeted amount includes proposed midyear adjustments and is reflective of increases in market energy costs. ✓ Capital outlay expenses are tracking at 20 percent of budget. $4.3 million of the capital budget includes work to be completed by Electric Utility staff on the State of California Natural Gas Power Plant, all costs for which will be reimbursed. While most vehicle and equipment purchases have been submitted to vendors, due to long lead times, approximately $2 million in actual expenses may not be realized for these budgeted expenses until later this fiscal year or early next fiscal year. RESERVES as of December 31, 2022 totaled approximately $38.5 million. These reserves are used to fund pay-as-you-go capital improvement and system maintenance projects as well as provide funding, when needed, for business related areas of risk such as market power volatility and the cost of replacement power during dry year conditions for which costs cannot reasonably be forecasted and budgeted. CAPITAL IMPROVEMENT PROJECTS includes nearly $27 million over 5 years for capital improvement efforts. The projects listed are included in the City's current Capital Improvement Program included in the adopted budget. Stephen Schwabauer, City Manager • 5 -YEAR FINANCIAL FORECAST indicates sufficient reserves through Fiscal Year 2024. However, based on a variety of assumptions, a CPI level rate adjustment of approximately 2 percent annually is projected in Fiscal Year 2025 and 2026 in order to meet Council approved reserve targets. Wastewater Utility Highlights REVENUE is stable and ended the second quarter at 48 percent of budget. ✓ Wastewater sales for the end of the second quarter are on target at 49 percent of budget. ✓ Other interest is tracking higher due to interest earnings not having a budget entered in the original fiscal year budget submittal. EXPENSES as a total ended the second quarter well below the budget at 26 percent. ✓ Operating expenses for the second quarter ended slightly above target at 55 percent. Personnel expense is tracking high at 77% due to an error in transfers in the Munis payroll entry module. Corrections are currently be make and will be corrected for the next quarter. ✓ Capital expenses for the second quarter were below budget at 3 percent. Included in the capital budget is $2 million for the Main Replacement project 9 which was awarded in the first quarter with construction beginning in the second quarter. Expense for Main Replacement project 9 will occur in the third quarter Also included in the budget is $8.3 million for the White Slough electrical building, almost $1 million for the White Slough fan press, $1 million for storm drain trash handling, almost $1 million for the White Slough aeration diffuser and $500,000 for White Slough Digester #3 all of which had minimal expense in the first half of the fiscal year. RESERVES as of December 31, 2022 totaled $17.4 million which is 216 percent of the 180 days cash target. These reserves are used to fund pay-as-you-go capital improvement projects planned over the next several fiscal years. CAPITAL IMPROVEMENT PROJECTS include over $27 million in planned projects over the next five years. The major projects include main replacement projects, construction of the electrical building, fan press replacement, aeration diffuser replacement, UV design and replacement and the storm drain trash handling systems to comply with state regulations. The projects listed are all in the fiscal year 20- 25 Capital Improvement Program that was included in the adopted budget. 5 -YEAR FINANCIAL FORECAST indicates a decline in reserves through fiscal year 2028. Staff is currently working on a new rate study, financial plan and model which will address the projected decline in fund balance. Water Utility Highlights REVENUE is stable and ended the second quarter at 55 percent of budget. ✓ Water sales ended the second quarter on target at 51 percent of budget. EXPENSES are as a total ended the second quarter well below the target at 26 percent. ✓ Operating expenses ended the second quarter below budget at 41 percent. Personnel expense is tracking low at 28% due to an error in transfers in the Munis payroll entry module. Corrections are currently be make and will be corrected for the next quarter. ✓ Capital expenses ended the second quarter well below budget at 3 percent. Included in the capital budget is $2.1 million for the Water Meter Project multi -family phase which has not yet been awarded, $500,000 for the water plant generator and over $1.4 million in well rehab projects which have not been awarded. RESERVES as of December 31, 2022 totaled $12.8 million which is 280 percent of the 180 days cash target. These reserves are used to fund pay-as-you-go capital improvement projects. CAPITAL IMPROVEMENT PROJECTS include over $14 million in planned projects over the next five years. The major projects include water plant transmission line, membrane replacement and generator. The projects listed are all in the fiscal year 20-25 Capital Improvement Program that was included in the adopted budget • 5 -YEAR FINANCIAL FORECAST indicates a decline in reserves through fiscal year 2028. Staff is currently working on a new rate study, financial plan and model, which will address the projected decline in fund balance. FISCAL IMPACT: There is no fiscal impact from the preparation of this report. FUNDING AVAILABLE: Adequate funding is available in the Fiscal Year 2022/23 budget, as amended by Council action from time to time, for the items in this report. All data is presented as current as of the date(s) obtained from the City's financial reporting system. Final year-end audited data will be provided in the City's Annual Comprehensive Financial Report (ACFR). �� M Andrew Keys Deputy City Manager/Internal Services Director CITY OF A ,91 l el0 O Z CALIFORNIA ELECTRIC 'UTILITY Electric Utility Department FY 23 Quarterly Update (Ending December 31, 2022) City Council Meeting March 1, 2023 C IT Y O F O Z CALI F O R N I A ELECTRIC ;UTILITY Electric Utility Fund Cash Flow Summary (December 31, 2022) Revenue Budget Actual % of Budget Sales Revenues 88,463,240 53,430,382 60% Development Impact Fees 375,000 189,247 50% State of CA Reimbursement (Gas Plant) 4,300,000 0 0% Other Revenues (interest, misc) 5,583,490 2,983,541 53% Total Revenues Expenses 98,721,730 56,603,170 57% Purchase Power 57,432,920 32,708,115 57% Non Power 16,930,170 7,755,320 46% Capital Projects 12,932,388 2,537,459 20% Debt Service 4,427,390 3,013,826 68% Cost of Service 2,796,970 1,398,485 50% In -lieu Transfer to General Fund 7,564,240 3,782,120 50% Total Expenses 102,084,078 51,195,325 50% Beginning Cash Balance (7/1/22) 37,741,126 Ending Cash Balance (12/31/22) 38,553,642 Reserve Policy Target % of Target 25,850,330 149% 2 CITY OF A r Z CALIFORNIA ELECTRIC UTILITY Electric Utility Funds Cash Balances (December 31, 2022) Operating Funds $ 2113911607 Capital Outlay Funds $ 999,469 Low Carbon Fuel Standard Fund $ 847 Public Benefits Fund $ 6,2811377 Impact Fee Fund $ 1,320,430 Solar Surcharge Fund $ 334,334 Greenhouse Gas Fund $ 8,225,578 Total $ 38, 553, 642 CITr of A r Z CALIFORNIA ELECTRIC UTILITY Electric Utility Reserve Policy (December 31, 2022) *Includes change approved by Council to remove Capital Reserve Target and purchase spare transformer **Includes cash held locally and at NCPA $45,000 $40,000 $35,000 $30,000 o $25,000 0 $20,000 $15,000 $10,000 $5,000 Actual Reserves vs. Target FY 18/19 FY 19/20 FY 20/21 FY 21/22 FY 22/23 ■Actual CITarget Cash balances support City Council approved reserve requirements and provide funds for pay as you go Capital Improvement Projects. El G I'rY of r o t CALIFORNIA ELECTRIC UTILITY Capital Improvement Project 5 -Year Spending Plan* Project Forecast ForecastForecast Budget•recast $542,936 Distribution Capacity Program $0 $0 $0 $0 Underground/ Overhead Maint $1,832,000 $1,518,575 $1,018,575 $1,018,575 $1,018,575 Streetlight Maintenance / Repair $50,000 $50,000 $50,000 $50,000 $50,000 LED Streetlight Improvements $466,435 $250,000 $250,000 $0 $0 230 kV Interconnection Project** $153,612 $20,000 $25,000 $25,000 $25,000 Substation Maint / Improvements $2,269,296 $2,670,000 $370,000 $170,000 $170,000 Building/Security Improvements $353,984 $0 $0 $0 $0 Work for Others (includes State of CA Natural Gas Plant $4,850,000 $750,000 $750,000 $750,000 $750,000 Vehicles & Equipment $2,414,125 $1,050,000 $188,000 $170,000 $830,000 Total Projects $12,932,388 $6,308,575 $2,651,575 $2,183,575 $2,843,575 *Includes approved FY 23 budget, including midyear adjustments and staff estimates as well as updated forecasts **Includes planning and design costs only - construction costs estimated at -$30M and will be debt financed 5 CITY OF qtwilb,�, r 5 -Year Financial Forecast CALIFORNIA Looking Ahead ELECTRIC UTILITY Forecast assumes funding of all budgeted full-time positions in future years FY 25 and FY 26 include CPI level rate adjustments of -2% annually to meet Council approved reserve target N FY 22-23 Estimated FY 23-24 Forecast FY 24-25 Forecast•Forecast FY • FY 26-27 Available Cash $31,603,773 $28,598,431 $29,714,367 $31,907,184 $33,372,058 Days Cash 125 112 114 120 123 Reserve Target $25,850,330 $26,885,345 $27,373,055 $27,877,253 $28,292,991 % of Target 122% 106% 109% 114% 118% Forecast assumes funding of all budgeted full-time positions in future years FY 25 and FY 26 include CPI level rate adjustments of -2% annually to meet Council approved reserve target N C Ir Y Q F is •� a �r CALIFORNIA ELECTRIC UTILITY Power Sales (December 31, 2022) Power CustomerBudget Residential 167,525,114 98,023,164 Small Commercial 171,533,706 93,482,819 Large Commercial/Small Industrial 49,379,310 23,915,323 Industrial 68,618,538 35,189,827 Total 457,056,668 250,611,133 Class BudgetCustomer Rate (WECA) Residential $ 36,121,480 $ 22,411,042 $ 0.1714 ($0.2286) Small Commercial $ 33,651,120 $ 19,984,964 $ 0.1596 ($0.2138) Large Commercial/Small Industrial $ 8,970,440 $ 4,951,081 $ 0.1523 ($0.2070) Industrial $ 9,720,200 $ 6,083,295 $ 0.1155 ($0.1729) Total $ 88,463,240 $ 53,430,382 $ 0.1573 ($0.2132) CITY OF A r Z CALIFORNIA ELECTRIC UTILITY ECA Revenue (December 31, 2022) Customer• Residential $ 4,993,270 Small Commercial $ 4,513,836 Large Commercial / Small Industrial $ 1,174,127 Industrial $ 1,868,081 Total Revenue $ 12,549,314 CITY OF A r Z CALIFORNIA ELECTRIC UTILITY Electric Utility Fund Operating Results (December 31, 2022) Personnel $ Budget 10,089,560 $ Actual 5,991,751 % of Budget 59% Supplies, Materials, Services $ 5,208,430 $ 1,325,359 25% Other Payments $ 1,563,780 $ 405,824 26% Utilities $ 68,400 $ 32,386 47% Total Operating Expenses $ 16,930,170 $ 7,755,320 46% �01 G I'YY ❑F r 4 dt CALIFORNIA ELECTRIC /UTILITY Power Supply Costs (December 31, 2022) 10 $ Budget 39,308,370 $ 23,136,907 59% Generation Transmission $ 16,602,450 $ 8,668,389 52% Management Services $ 1,522,100 $ 902,819 59% Total Power Supply Costs $ 5774327920 $ 3277087115 57% 10 CITY OF A r Z CALIFORNIA ELECTRIC UTILITY 02-2023 Q3 — 2023 Q4 — 2023 Ql — 2024 150,000 140,000 120,000 100,000 So,000 50,000 40,000 20,000 Q2 - 2023 Load Coverage Q3-2023 Q4 -2M 01-2024 Mcaverage = Target Load LEU continues to meet or exceed Risk Management targets 11 ROC Matrix Load Coverage MWh Load Target (Including Purchases) 116,226 80.0% 81.60.'D 188,969 78.8% 76-1% 108,486 68.8% 71.4% 106,475 60.0% 60.7% Q3-2023 Q4 -2M 01-2024 Mcaverage = Target Load LEU continues to meet or exceed Risk Management targets 11 VeI ry OF a Risk Oversight Committee (ROC) CALIFORNIA ELECTRIC UTILITY Report Highlights • 5 ROC meetings held July— December 2022 — Forward energy purchases approved to cover open positions in 2023 — Approved sale of Low Carbon Fuel Standard credits — Discussed confidential Cap and Trade strategy and activities — Approved revisions to LEU Reserve Policy — Approved deposit to reserves for FY 2022 NCPA billing settlement adjustment — Discussed confidential renewable energy procurement activities — Extended authorization for market energy purchases within not -to -exceed approval range provided by ROC — Authorized purchase of short-term renewable energy purchases (2022 and 2023) — Approved Annual Power Content Label — Recommended Council approval to use reserve funds to reduce energy cost adjustment for customers 12 CITY OF A r Z CALIFORNIA ELECTRIC UTILITY • Customer Project Highlights — Expanded EV Rebate Program and incentives — Authorized Year 2 of Shade Tree Pilot Program — Increased CARE Program benefit assistance — Started discussions with vendor regarding customer web portal — Launched PowerClerk for on-line permitting of customer installed solar • Technology — Kicked off Fleet Electrification Master Plan efforts • Reliability — Approved 2022 Wildfire Mitigation Plan — Completed CPUC Audit 13 CITY OF is •� r CALIFORNIA Project Hi h1i hts (cont'd)��ELECTRIC UTILITY • Financial Completed Moody's Rating Agency review receiving A2 Stable Credit Opinion — Commenced with service disconnects for non-payment — Authorized use of operating reserves to reduce energy cost adjustment for customers — Antelope Solar Project achieved Commercial Operation — Authorized revision to LEU Reserve Policy • Workforce Planning 14 Public Works Department Water/Wastewater IFY 23 Quarterly Update (Ending December 31, 2022) Wastewater Fund Cash Flow Summary (Ending December 31, 2022) Budget Actuals % of Budget Revenue Sales 17,284,090 8,392,290 49% Development Impact Mitigation Fees 1,935,160 511,239 26% Other (interest, septic, misc.) 100,000 382,138 382% Total Revenues 19,319,250 9,285,667 48% Expenses Operating 9,730,048 5,372,521 55% Capital 18,610,809 584,782 3% Debt Service 3,344,290 1,970,334 59% Cost of Services Payment To General Fund 1,402,100 701,050 50% Total Expenses 33,087,247 8,628,687 26% Beginning Cash (Operations Only) 20,714,856 Ending Cash (Operations Only) 17,380,020 Days Cash (Excluding Capital) 389 % of Target — 180 Days Cash on Hand 216% Wastewater Operating Results (Ending December 31, 2022) 3 Budget Actuals % of Budget $ 4,545,030 $ 3,485,781 77% aterials, Services $ 3,271,555 $ 902,106 28% FEquipment,Land, Structures $ 346,103 $ 59,255 17% ents $ 467,910 $ 352,483 75% $ 1,071,060 $ 572,897 53% hers $ 28,390 $ - 0% l Operating Expenses $ 9,730,048 $ 5,372,521 55% 3 Wastewater Funds Cash Balances (Ending December 31, 2022) 22,000,000 20,000,000 18,000,000 273% 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000, 000 4,000, 000 2,000,000 0 Actual Reserves vs. Target 309% 279% 18/19 19/20 258% M 216% 20121 21122 22/23 Amounts above reserve target are ■Taos= held for scheduled capital maintenance El Operating (530) 1713801020 Utility Capital / Infrastructure Replacement (531) 41027,850 Capital Reserve (532) (Fund used to pay White Slough COP Debt Service) 49,169 Wastewater IMF (533) 5,471,175 Rate Stabilization Reserve (534) 500,000 Storm Drain IMF (535) 2,502,323 Total 29,900,537 22,000,000 20,000,000 18,000,000 273% 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000, 000 4,000, 000 2,000,000 0 Actual Reserves vs. Target 309% 279% 18/19 19/20 258% M 216% 20121 21122 22/23 Amounts above reserve target are ■Taos= held for scheduled capital maintenance El Available Cash Days Cash (180 day target) Minimum Reserve Target (25%) Reserve Target (50%) % of Days Cash Target 5 -Year Financial Forecast FY 22-23 FY 23-24* FY 24-25 FY 25-26 FY 26-27 FY 27-28 Budget Forecast Forecast Forecast Forecast Forecast $11,831,101 $4,597,500 $5,239,400 $5,814,600 $1,689,900 ($868,300) 311 118 148 138 39 (22) $3,467,000 $6,934,000 173% $3,545,500 $3,226,000 $3,838,000 $3,925,000 $3,604,500 1 $7,091,000 $6,452,000 $7,676,000 7,850,000 66% 82% 77% 22% 7,209,000 (12%) Forecast are based on current Prop 218 rate plan which expires 12/31/23. New rate study scheduled for 1/1/24 5 Wastewater Planned Capital Projects FY 22-23 FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 Project Planning $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 MUS PW Building Roof $80,000 Misc. System Relocations $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 $35,000 Misc. Wastewater Taps $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 $40,000 Wastewater Main Replac./Lining Proj. $1,995,605 $1,000,000 $1,000,000 $2,000,000 Sewer Lift Station Wet Well Rehab $250,000 Storm Drain Trash Handling $350,000 $350,000 $350,000 $750,000 $750,000 $750,000 Kofu Storm Water Pump Rehab $200,000 Salas Storm Water Pump Rehab $200,000 Henery Glaves Storm Water Pump Rehab $200,000 Peterson Storm Water Pump Rehab $200,000 Cluff Storm Water Pump Rehab $200,000 Beckman Storm Water Pump Rehab $200,000 Vehicles /Equipment $739,024 $75,000 $75,000 $75,000 $75,000 $75,000 $75,000 Misc Projects $100,000 $100,000 Storm Water Pump Rehab $200,000 $200,000 Irrigation Improvements $750,000 $1,000,000 Digester #3 Mixing Impry $500,000 $1,000,000 Digester #4 Lid Rehab $100,000 Electrical Upgrades/SCADA Construction $3,000,000 $8,000,000 $2,500,000 Dredge Pond 1 and EQ Pond 1 $200,000 Cloth Filter Media Replacement $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 Primary Chain Flights $40,000 $40,000 $40,000 NCPA Maintenance Generator $150,000 $150,000 $150,000 $150,000 $150,000 $150,000 $150,000 Emergency Generator Maintenance $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 Compliance Studies and Reports $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 $200,000 UV Design/Replacement $450,000 $2,000,000 $2,000,000 Primary WW Treatment Rehab $500,000 Aeration Difusser Replacement $2,992,140 Pond Gates $15,000 Primary Skimmers $20,000 DWP-H2 Replacement $15,000 $15,000 Fan Press Replacement (Solids Handling) $3,321,792 Unspecified Treatment Plant Rehab $1,000,000 $1,000,000 Total $14,158,561 $10,355,000 $4,900,000 $1,625,000 $5,535,000 $5,575,000 $4,535,000 6 Water Fund Cash Flow Summary (Ending December 31, 2022) Budget Actuals % of Budget Revenue Sales 14,388,940 7,396,271 51% Development Impact Mitigation Fees 1,016,960 413,968 41% Other (interest, tap fees, water meters, misc.) 310,000 801,040 258% Total Revenues 15,715,900 8,611,279 55% Expenses Operating 8,591,120 3,563,483 41% Capital 7,016,100 236,762 3% Debt Service 1,940,050 396,921 20% Cost of Services Payment To General Fund 1,179,180 589,590 50% Total Expenses 18,726,450 4,786,756 26% Beginning Cash (Operations Only) 9,616,854 Ending Cash (Operations Only) 12,762,569 Days Cash (Excluding Capital) 505 % of Target — 180 Days Cash on Hand 280% Water Operating Results (Ending December 31, 2022) Budget Actuals % of Budget Personnel $ 3,436,640 $ 971,356 28% Supplies, Materials, Services $ 1,716,807 $ 571,548 33% Equipment, Land, Structures $ 132,063 $ 27,063 20% Other Payments $ 1,752,500 $ 1,255,166 72% Utilities $ 1,444,260 $ 629,501 44% Work for Others $ 108,850 $ 108,850 100% Total Operating Expenses $ 8,591,120 1 $ 3,563,483 1 41 Water Funds Cash Balances (Ending December 31, 2022) Actual Reserves vs. Target 14,000,000 12,000,000 10,000,000 8,000,000 137% 6,000, 000 97% 4,000,000 Ir 2,000,000 0 18/19 19/20 280% 180% 165% T3 vet — — Amounts above Att3 reserve target are held for scheduled F capital maintenance 9 20121 21122 22123 Operating (560) 12,762,569 Utility Capital / Infrastructure Replacement (561) 1,197,966 IMF (562) 5, 901, 713 PCE/TCE Settlements 7,938,292 PCE/TCE Rates (565) 3,736,308 Total 31, 536, 848 Actual Reserves vs. Target 14,000,000 12,000,000 10,000,000 8,000,000 137% 6,000, 000 97% 4,000,000 Ir 2,000,000 0 18/19 19/20 280% 180% 165% T3 vet — — Amounts above Att3 reserve target are held for scheduled F capital maintenance 9 20121 21122 22123 Available Cash Days Cash (180 day target) Minimum Reserve Target (25%) Reserve Target (50%) % of Days Cash Target 5 -Year Financial Forecast FY 22-23 FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 Forecast Forecast Forecast Forecast Forecast Forecast $9,467,222 $8,623,500 $5,667,450 $4,236,650 $4,150,150 $3,038,550 294 264 169 123 118 84 $2,933,500 $2,979,000 $3,056,000 $3,135,000 $3,217,000 $3,302,000 $5,867,000 164% $5,958,000 $6,112,000 $6,270,000 $6,434,000 $6,604,000 1 147% 94% 69% 65% 47% 10 Water Capital Outlay 561 Water Meter/Main Install. Project Water Taps Miscellaneous Water Mains Water Meter Replacement Program (1% per yr.) Public Improvement Reimbursements GAC & Meter Repl (DBCP) MUS PW Admin Building Roof Meter Shop Design/Construction SWTF PS Generator SWTF Membrane Replacement SWTF Transmission Line Expansion Design/Constr. SWTF Capacity Expansion Water Well Rehab Well 22 -Pump Rehab/Replacement Well 14 -Pump Rehab/Replacement Well 16 -Pump Rehab/Electrical Upgrade Well 17 -Pump Rehab/Electrical Upgrade Well 21 -Pump Rehab/Electrical Upgrade Well 23 -Pump Rehab/Electrical Upgrade Well 25 -Pump Rehab/Electrical Upgrade Well 15 -Pump Rehab/Electrical Upgrade Well 9 -Pump Rehab/Electrical Upgrade Well 5 -Pump Rehab/Electrical Upgrade Well 18 -Pump Rehab/Electrical Upgrade Vehicles/Equipment Project Planning Total Water Capital Outlay 561 Water Planned Capital Projects FY 22-23 FY 23-24 FY 24-25 FY 25-26 FY 26-27 FY 27-28 FY 28-29 FY 29-30 $1,500,000 $1,500,000 $0 $0 $0 $250,000 $0 $0 $75,000 $75,000 $75,000 $75,000 $75,000 $75,000 $75,000 $75,000 $50,000 $50,000 $250,000 $250,000 $500,000 $500,000 $500,000 $500,000 $75,000 $75,000 $75,000 $75,000 $150,000 $150,000 $150,000 $150,000 $0 $0 $0 $0 $0 $0 $0 $0 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $0 $80,000 $0 $0 $0 $200,000 $0 $0 $275,865 $0 $0 $0 $0 $50,000 $100,000 $100,000 $0 $0 $0 $0 $0 $1,000,000 $0 $0 $2,500,000 $0 $0 $0 $0 $500,000 $1,500,000 $0 $20,000,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $400,000 $250,000 $0 $0 $0 $0 $170,000 $0 $0 $0 $0 $165,000 $0 $0 $0 $0 $250,000 $0 $0 $0 $0 $200,000 $0 $0 $0 $0 $250,000 $0 $0 $0 $0 $250,000 $0 $0 $0 $0 $0 $250,000 $0 $0 $0 $0 $0 $200,000 $0 $0 $0 $0 $0 $200,000 $0 $0 $0 $0 $0 $200,000 $50,000 $50,000 $100,000 $100,000 $100,000 $100,000 $100,000 $100,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $4,285,865 $2,805,000 $4,425,000 $2,925,000 $1,750,000 $2,550,000 $1,550,000 $21,550,000 11