HomeMy WebLinkAboutReport - Mail Packet - 9/26/2023 - Fort Collins Connexion Monthly Report - July 2023JULY MONTHLY REPORT
PUBLISHED: AUGUST 2023
Overall Fiber Construction through July 2023
Total Fiber Areas Complete*
Total Fiber Area Construction Completed
355
*A Fiber Area on average serves 225 homes
99.4%
Total Fiber Area*
357
Take Rate*
* As of July 1, 2023. Take Rate of residential
neighborhoods released for a minimum of 90 days.
34%
*Includes fiber areas that have construction completed and turned over for QC
Monthly info / highlights
• The Connexion team has been active in the community the past few
months at various outdoor festivals and events. Our residential sales
representative has been able to sign folks up in person and in real time
while working events and out in the community and this has helped our
boost our installation numbers as well overall brand awareness.
• Follow us on Social Media! @FoCoConnexion
23-25656 | Auxiliary aids and services are available for persons with disabilities.
Finances
Connexion YTD Budget to Actual as of July 2023
• We are approximately 99.4% spent on the currently appropriated
project budget which includes an additional $20M approved by
City Council on April 5th, 2022 to allow for completion of the
network buildout and installation of Connexion customers. This
addition is reflected in the budget of $142.2M.
• In addition to a slower rate of installs to begin the year, revenue
is off due to irregular intergovernmental revenues not yet billed.
Expenses were significantly below budget as a result of the lower
cost of goods sold (internet/video content) from lower sales
volumes and continued favorable operating costs from lower
staffing levels than budgeted.
• Resulting net total margin was favorable to budget by
approximately $67K.
BUDGET 1 ACTUAL
BETTER/
(WORSE)
Operating Revenues 2 $10,672,211 $8,586,311 $(2,085,900)
Operating Expenses 3 $10,385,010 $8,232,530 $2,152,480
Net Operations $287,201 $353,781 $66,580
Investment Income (Expense) $- $- $-
Net Total $287,201 $353,781 $66,580
APPROPRIATED
BUDGET
PROJECT TO DATE REMAINING
Construction Budget $142,208,249 $141,355,000 $853,249
Notes: Results are preliminary and unaudited
1 Adjusted operating budget reflects impacts of increased capital budget of $142.2 M.
2 Excludes investment earnings on bond proceeds
3 Excludes Depreciation and Interest Expense
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Y 2019Feb-20Apr-20Jun-20Aug-20Oct-20Dec-20Feb-21Apr-21Jun-21Aug-21Oct-21Dec-21Feb-22Apr-22Jun-22Aug-22Oct-22Dec-22Feb-23Apr-23Jun-23#of AreasActual Forecasted