Daily cash balance — both repayment scenarios
Red = pay off in FY 26-27 (one year). Blue = renew + pay off in FY 27-28 (two years, FY 27-28 budget proxied from FY 26-27). Quarterly billings as gray dashes; EFC bond payments and budget-note repayments as red marker lines; zero line in red.
Scenario comparison
Same starting point ($76,472 opening cash, adopted FY 26-27 budget). The Board chooses between paying the note in one year or stretching it across two. The rate-increase math assumes the village raises the additional dollars through the Capital Charge, which currently bills 286.19 EDUs at $179/quarter ($204,912 per year).
| Dimension | Pay off in FY 26-27 | Renew to FY 27-28 | Notes |
|---|---|---|---|
| Lifetime cost | $213,952 | $221,903 | Renew costs $7,952 more (second year of interest) |
| FY 26-27 cash hit | $213,952 | $7,952 | Principal + interest vs. interest only |
| FY 27-28 cash hit | — | $213,952 | Principal + year-2 interest (renew only) |
| FY 26-27 min balance | −$342,910 | −$162,048 | Daily-low cash position |
| FY 27-28 min balance | — | −$557,528 | Renew scenario only; proxied FY 27-28 budget |
| Rate hike per EDU per quarter (level) | +$186.90 | +$96.92 | $179 → $366 vs. $179 → $276 / quarter |
Rate-increase math
Capital Charge billing base. 286.19 EDUs × $179/quarter × 4 quarters = $204,912 of annual debt-service revenue. Source: data/extracts/sewer_rates.json.
Pay off in FY 26-27. Raise $213,952 in one year = $213,952 ÷ 286.19 EDUs ÷ 4 quarters = +$186.90 per EDU per quarter (≈ $748/year per EDU on top of the current $716).
Renew + pay off in FY 27-28. Raise $221,903 across two years = $221,903 ÷ 2 ÷ 286.19 EDUs ÷ 4 quarters = +$96.92 per EDU per quarter (level for two fiscal years).
These figures assume the additional dollars are collected entirely through the Capital Charge structure (per-EDU) rather than O&M (per-BU). A blended increase that also touches the O&M rate or that pulls from new fund balance is feasible but not modeled here.
Required opening cash to stay above each floor (FY 26-27)
For each floor, the inverter answers: what opening cash would the sewer fund need on June 1, 2026 to keep its FY 26-27 minimum daily balance above this floor, under each scenario? Both columns compare to the actual $76,472 starting balance.
| Floor | Floor value | Required · payoff | Required · renew | Rationale |
|---|---|---|---|---|
| Solvent | $0 | $419,434+$342,962 | $238,525+$162,053 | Lowest possible target — fund doesn't run negative and avoids needing an emergency advance |
| GFOA 45d | $55,663(45d) | $475,098+$398,626 | $294,189+$217,717 | GFOA recommended minimum working-capital reserve for enterprise funds |
| 90 days | $111,326(90d) | $530,762+$454,290 | $349,854+$273,382 | Common target for small water/sewer utilities; clears one full billing cycle |
| 120 days | $148,435(120d) | $567,871+$491,399 | $386,963+$310,491 | Upper-end for small utilities without diversified revenue or stable industrial base |
The renew column is smaller for FY 26-27 because only the $8K of interest hits — but the principal load shifts into FY 27-28, where the fund would still need additional opening cash to absorb a −$557,528 low. See the FY 27-28 column on the issue page for that side of the picture.
Methodology. Daily cash position simulated from 2026-06-01 through 2027-05-31 for both scenarios. The renew scenario extends a second simulation through May 31, 2028. Inflows: quarterly billings collected with a U-decay pattern (1−U in the due month, 60%/30%/10% of U in the next three). Unpaid rate U = 12.8% from AFR FY 24-25 accounts receivable. Outflows: annual opex spread evenly per day; EFC bond principal as a single Mar 18 event; budget-note interest and/or payoff on May 31 of each year.
Opening cash (FY 26-27). The fund carried $76,472 in cash at end of FY 24-25. FY 25-26 had a $205K General Fund advance in February that was paid back in May via the budget note proceeds — net zero on sewer cash for that roundtrip, modulo timing. Sludge ran ~$55K over budget for the year. If FY 25-26 closes within the AFR baseline range, opening cash for FY 26-27 is approximately the AFR baseline. Update the in_flight_adjustment field when a Treasurer projection or audited AFR becomes available.
FY 27-28 assumption (renew scenario only). No adopted FY 27-28 budget exists yet. The FY 27-28 simulation assumes the same revenue and appropriation totals as FY 26-27 (including the ~$205K EFC bond principal embedded in opex) and the same billing cadence, shifted by one year. Opening cash for FY 27-28 is the FY 26-27 ending balance from the same scenario.
Budget note. Resolution 20-2026 (May 11, 2026) authorized up to $206,000 in budget notes at 3.86% callable from Bank of Greene County, with a 1-year term plus optional 1-year renewal. Annual interest is $7,951.6. Payoff scenario total cost: $213,951.6 (1 year of interest). Renew scenario total cost: $221,903.2 (2 years of interest).
Canonical simulator: analysis/build_sewer_cashflow.py. Config: analysis/configs/sewer_cashflow.yaml. Adopted budget figures pulled from site/data/fiscal_lines.json; EDU count and rate from data/extracts/sewer_rates.json at build time. Schema version 3.0.0.