HomeMy WebLinkAboutReport - Mail Packet - 9/27/2022 - Fort Collins Connexion Monthly Report - September 20220
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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
CONNEXION MONTHLY REPORT
SEPTEMBER 2022
Overall Fiber Construction through August 2022
Total Fiber Areas Complete*
Total Fiber Area Construction Completed
330
*A Fiber Area on average serves 225 homes
92%
Total Fiber Area*
357
Take Rate*
* As of September 1, 2022. Take Rate of residential
neighborhoods released for a minimum of 90 days.
29%
*Includes fibers areas that have construction completed and turned over for QC
Monthly info / highlights
• The Take Rate of 29% is the direct impact of installer labor shortage.
We are working to add more installers.
• Final audit revealed that additional construction is needed for the
main build out. Construction will be complete by the end of the year
and all residents and businesses will be able to sign up by the end
of the year with appropriate property owner approval.
• Follow us on Social Media! @FoCoConnexion
22-24500 | Auxiliary aids and services are available for persons with disabilities.
Finances
Connexion YTD Budget to Actual as of August 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 90% 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
$2.5M, a result of operating expense containment.
* This report reflects a change in format that highlights construction
completion by the end of the year and current metrics.
BUDGET ACTUAL BETTER / (WORSE)
Operating Revenues1 $ 7,673,489 $ 7,462,533 $ (210,956)
Operating Expense2 $ 8,080,413 $ 4,526,143 $ 3,554,271
Net Operations $ (406,924) $ 2,936,390 $ 3,343,314
Investment Income (Expense) $ (2,096,850) $ (2,913,588) $ (816,738)
Net Total $ (2,503,774) $ 22,802 $ 2,526,577
APPROPRIATED
BUDGET
PROJECT
TO DATE REMAINING
Construction $ 142,808,249 $ 127,049,083 $ 15,759,166
1 Excludes investment earnings on bond proceedst
2 Excludes Depreciation and Interest Expense