HomeMy WebLinkAboutReport - Mail Packet - 6/21/2022 - Fort Collins Connexion Monthly Report - June 2022 (5)0
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Y 2019Feb-20Apr-20Jun-20Aug-20Oct-20Dec-20Feb-21Apr-21Jun-21Aug-21Oct-21Dec-21Feb-22Apr-22Jun-22Aug-22Oct-22Dec-22#of AreasActual Forecasted
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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
JUNE 2022
Overall Fiber Construction through May 2022
Completed Fiber Pulled through Conduit
4,904,833 ft
Total Fiber Pulled through Conduit
4,952,640 ft
Total Fiber Area Construction Completed
330
*A Fiber Area on average serves 225 homes
92%
Total Fiber Area*
357
Completed Bore Length
3,042,615 ft
Total Bore Length
3,042,615 ft*
* Bore Length may be updated through the
course of the project as design is completed.
Spent to Date
$123,805,831
87%
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 June 1, 2022. Take Rate of residential
neighborhoods released for a minimum of 90 days.
29%
100%
99%
CONNEXION MONTHLY REPORT
Auxiliary aids and services are available for persons with disabilities.
JUNE 2022
22-24278
Fiber Areas Update
Monthly info / highlights
• The Take Rate of 29% is the direct impact of installer labor shortage.
We are working to add more installers.
• Over 6.9 miles of fiber were installed in May along with 7 vaults
and 14 flowerpots (smaller vaults).
• Project to date: 928.9 miles of fiber have been installed along with
10,031 vaults and over 17,439 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 May 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 87% 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
$2.6M, a result of operating expense containment and a
revenue increase of $112k.
BUDGET ACTUAL BETTER / (WORSE)
Operating Revenues1 $ 4,287,246 $ 4,399,198 $ 111,952
Operating Expense2 $ 5,109,457 $ 2,649,442 $ 2,460,015
Net Operations $ (822,211) $ 1,749,756 $ 2,571,968
Investment Income (Expense) - $ 305 $ 305
Net Total $ (822,211) $ 1,750,061 $ 2,572,273
APPROPRIATED
BUDGET
PROJECT TO DATE REMAINING
Construction $ 142,808,249 $ 123,805,831 $ 19,002,418
1 Excludes investment earnings on bond proceeds
2 Excludes Depreciation and Interest Expense