City of OKC
Utilities Department MenuFinancial Year in Review
Financial Updates
OCWUT refunded its 2013, 2015, and 2016 revenue bonds, which provided cash-flow savings of $28,843,047 and allowed OCWUT to modify its Bond Indenture to allow for the option of a debt service reserve fund, saving the Trust 10% in future revenue bond transactions. This transaction had extensive
investor interest with over $1 billion in orders for $267 million of bonds from 47 investor orders, with three investors putting in total orders over $100 million.
Our Financial Operations section processed over 4,500 invoices in FY 2023, an uptick of 35% compared to five years ago. This increase reflects the Trust’s continuous initiatives and programs over the years to invest in the infrastructure needed to meet growing customer demand.
Our Financial Operations section continues to assist the Trust with various fundraising functions, applying for six grants in FY 2023 and seeking $31.9 million in grant funds.
Our Financial Planning group successfully completed the FY 2024 $848 million OCWUT budget planning and presentation on schedule.
Amid extremely high costs for chemicals, electricity, and unprecedented supply shortages, the Financial Planning group helped guide the organization to successfully achieve its financial metrics for FY 2023.
The financial management of the Tinker Air Force Base systems, in conjunction with the program manager, has been successfully implemented with a recently approved Contract Year 2 adjustment to the cost-of-service pricing.
| SOURCES | BUDGET TARGET | ACTUAL |
| Debt Construction Fund Proceeds | $ 321,798,000 | $ 244,804,845 |
| Water Service Charges | $ 203,476,000 | $ 217,069,000 |
| Wastewater Service Charges | $ 118,939,000 | $126,069,110 |
| Withdrawal from Cash Reserves | $ 34,240,000 | $ 117,748,445 |
| Solid Waste Management Service Charges | $ 64,963,000 | $ 65,515,081 |
| Other Revenues | $ 8,034,000 | $ 18,619,056 |
| Capital Contributions from Others | $ - | $ 11,257,298 |
| System Development Charges | $ 5,549,000 | $ 2,419,953 |
| Flow Fees | $ 2,236,000 | $ 2,419,953 |
| Reimbursement from Tinker | $ 1,343,000 | $ 1,896,781 |
| Non-ratepayer Activities | $ 934,000 | $ 1,288,963 |
| TOTAL: | $ 761,422,000 | $ 812,635,843 |
| USES | BUDGET TARGET | ACTUAL |
| Capital Improvements | $ 483,154,000 | $ 467,083,409 |
| City Operations | $ 108,960,000 | $ 117,146,000 |
| Debt Service | $ 53,612,000 | $ 52,387,458 |
| Trust Operations | $ 44,107,260 | $ 43,962,788 |
| Solid Waste Management Contracted Services | $ 38,513,000 | $ 40,499,933 |
| Contracted Wastewater Treatment Operations | $ 21,585,000 | $ 18,597,075 |
| McGee Creek Operations | $ 3,841,000 | $ 2,485,000 |
| Non-ratepayer Activities | $ 934,000 | $ 534,492 |
| Deposits to Administrative Reserves for CIP | $ - | $ 63,223,948 |
| Deposits to Cash Reserves | $ 6,715,740 | $ 6,715,740 |
| TOTAL: | $ 761,422,000 | $ 812,635,843 |