HomeMy WebLinkAboutReport - Mail Packet - 2/9/2021 - Fort Collins Connexion Monthly Report- January 20210.0
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Q2 20
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Q3 2020 Q4 202
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CONNEXION MONTHLY REPORT
JANUARY 2021
OVERALL FIBER CONSTRUCTION THROUGH DECEMBER ‘20
FIBER AREAS UPDATE
Monthly info / highlights
• Over 25 miles of fiber were installed in December, along with 234 vaults and 822 flowerpots (smaller vaults).
• Project to date: 378 miles of fiber have been installed along with 5,205 vaults and over 11,105 flowerpots.
• With temperatures dropping and frozen ground issues, we may run a temporary drop “above ground” for Connexion service. This temporary drop
will be installed underground permanently once the ground has thawed.
• All construction work occurs in the public right-of-way (ROW). Our crews do their best to minimize damage to landscaping and irrigation systems.
When damage does occur, please call our Help Line at 970-674-7800 for assistance.
• If you are member of an HOA board or property management company, a Right of Entry agreement may be needed to finish construction to your
residents. Please visit fcconnexion.com/hoa to learn more.
2018 2019 2020 2021 2022 2023
Design
Construction
Available
Atlantic Engineering Group
(AEG) work
Connexion Service Available
ongoing
Total Fiber Areas Complete*Total Fiber Pulled
*Includes fibers areas that have construction completed and turned over for QC
Based on community feedback, beginning in 2021 Fort Collins Connexion will be reporting on a monthly basis. With continued construction throughout
the city, weekly releases of new neighborhoods for service and greater business service availability, Connexion is on target for completion in Q4 2022.
FINANCES
Connexion YTD Budget to Actual as of December ‘20
BUDGET ACTUAL BETTER / (WORSE)
Operating Revenues* $ 5,653,900 $ 1,139,891 $ (4,514,009)
Operating Expense $ 7,074,218 $ 3,258,008 $ 3,816,210
Net Operations $ (1,420,318) $ (2,118,117) $ (697,799)
Investment Income $ 0 $ 1,149,466 $ 1,149,466
Net Total $ (1,420,318) $ (968,651) $ 451,667
BUDGET PROJECT TO DATE REMAINING
Construction Budget $ 109,217,775 $69,936,138 $39,281,637
*Excludes investment earnings on bond proceeds
While the Connexion Budget included an aggressive launch schedule, the Connexion team intentionally chose to take a controlled release approach for launch
to ensure processes and procedures were in place before full ramp up. Delays with the back-office system delivery (Open Smartflex billing solution), the
difficult winter in 2020 for Fort Collins and the COVID-19 outbreak resulted in a slower start up.
• Slower start up is reflected in the lower operating revenues and operating expenses compared to budget.
• Operating expenses $4.5 M less than budget.
• Net effect of ($679.8) K operating cash flow compared to budget excluding investment income.
• Overall cashflow was $451.7 K positive driven primarily by investment income from unspent bond proceeds and lower operating expenses.
• We are approximately 64% spent on Construction Budget, which is on target.
• Construction in the initial areas required a significant amount of new boring, which incurs a higher cost. As we move forward, we anticipate using
more existing infrastructure resulting in a lower cost.
CONNEXION MONTHLY REPORT
Auxiliary aids and services are available for persons with disabilities. V/TDD: 711 JAN 2021
21-22947
Total Construction Budget
$109,217,775
Total Bore Length
2,536,272 ft
Total Fiber Pulled through Conduit
4,952,640 ft
Total Fiber Area*
357
Total Construction Budget
$109,217,775
Total Bore Length
2,536,272 ft
Total Fiber Pulled through Conduit
4,952,640 ft
Total Fiber Area*
357
Total Construction Budget
$109,217,775
Total Bore Length
2,536,272 ft
Total Fiber Pulled through Conduit
4,952,640 ft
Total Fiber Area*
357
Total Construction Budget
$109,217,775
Total Bore Length
2,536,272 ft
Total Fiber Pulled through Conduit
4,952,640 ft
Total Fiber Area*
357
64.0%
Spent to Date
$69,936,138
73.8%
Completed Bore Length
1,872,005 ft
40.3%
Completed Fiber Pulled through Conduit
1,999,930 ft
27.2%
Total Fiber Area Construction Completed
97
*A Fiber Area on average serves 225 homes