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HomeMy WebLinkAboutReport - Mail Packet - 5/24/2022 - Fort Collins Connexion May 2022 Monthly Report (5)0 50 100 150 200 250 300 350 400 Y 2019Feb-20Apr-20Jun-20Aug-20Oct-20Dec-20Feb-21Apr-21Jun-21Aug-21Oct-21Dec-21Feb-22Apr-22Jun-22Aug-22Oct-22Dec-22#of AreasActual Forecasted 0.0 1.0 2.0 3.0 4.0 5.0 6.0 Y 2019Feb-20Apr-20Jun-20Aug-20Oct-20Dec-20Feb-21Apr-21Jun-21Aug-21Oct-21Dec-21Feb-22Apr-22Jun-22Aug-22Fiber Pulled in FeetMillionsActual Forecasted CONNEXION MONTHLY REPORT MAY 2022 Overall Fiber Construction through April 2022 Completed Fiber Pulled through Conduit 4,863,955 ft Total Fiber Pulled through Conduit 4,952,640 ft Total Fiber Area Construction Completed 313 *A Fiber Area on average serves 225 homes 88% Total Fiber Area* 357 Completed Bore Length 3,035,973 ft Total Bore Length 3,070,670 ft* * Bore Length may be updated through the course of the project as design is completed. Spent to Date $121,172,007 85% Total Construction Budget $142,808,249* * Includes additional appropriation and redeployed operating budget of $14.2M *Includes fibers areas that have construction completed and turned over for QC Total Fiber Areas Complete*Total Fiber Pulled 2018 2019 2020 2021 2022 2023 Design Construction Available Atlantic Engineering Group (AEG) work Connexion Service Available ongoing Take Rate* * As of May 1, 2022. Take Rate of residential neighborhoods released for a minimum of 90 days. 31% 99%98% CONNEXION MONTHLY REPORT Auxiliary aids and services are available for persons with disabilities. MAY 2022 22-24209 Fiber Areas Update Monthly info / highlights • Over 38.5 miles of fiber were installed in April along with 53 vaults and 15 flowerpots (smaller vaults). • Project to date: 921.2 miles of fiber have been installed along with 10,013 vaults and over 17,436 flowerpots. • Fort Collins residents can input their address and see whether their residence is In Design, In Construction, or has Service Available! If a residence is under construction, a season of availability will be provided. Our address look-up tool can be found on the Connexion website at fcconnexion.com. • Fort Collins Connexion’s new billing system and customer portal are live and we want to help get you set up quickly and easily so you can access all the new features. When you set up your account, you can review your billing history, sign up for paperless billing, pay your bill and manage your account all from the Self-Service Portal. • Follow us on Social Media! @FoCoConnexion Finances Connexion YTD Budget to Actual as of April 2022 • Connexion deployment remains on track for construction completion by mid-2022 with service availability to all premises by the end of 2022. • We are approximately 85% spent on the appropriated construction Budget. On April 5th, an additional $20M was approved by City Council to allow completion of the network buildout and installation of Connexion customers. This appropriation is now reflected in the budget. • Net Total margin is favorable to budget by approximately $2.3M, a result of operating expense containment and a revenue increase of $179k. BUDGET ACTUAL BETTER / (WORSE) Operating Revenues1 $ 3,354,398 $ 3,533,037 $178,639 Operating Expense2 $ 4,210,149 $ 2,056,473 $ 2,153,677 Net Operations $ (855,751) $ 1,476,564 $ 2,332,316 Investment Income (Expense)- $ 305 $ 305 Net Total $ (855,751) $ 1,476,869 $ 2,332,621 APPROPRIATED BUDGET PROJECT TO DATE REMAINING Construction $ 142,808,249 $ 121,172,007 $ 21,636,242 1 Excludes investment earnings on bond proceeds 2 Excludes Depreciation and Interest Expense