HomeMy WebLinkAboutReport - Mail Packet - 10/25/2022 - Fort Collins Connexion Monthly Report - October 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
OCTOBER 2022
Overall Fiber Construction through September 2022
Total Fiber Areas Complete*
Total Fiber Area Construction Completed
334
*A Fiber Area on average serves 225 homes
93%
Total Fiber Area*
357
Take Rate*
* As of October 1, 2022. Take Rate of residential
neighborhoods released for a minimum of 90 days.
30%
*Includes fiber areas that have construction completed and turned over for QC
Monthly info / highlights
• The Take Rate of 30% is the direct impact of installer labor
shortage. More installers have been added which should increase
our take rate.
• 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
22-24612 | Auxiliary aids and services are available for persons with disabilities.
Finances
Connexion YTD Budget to Actual as of September 2022
• Connexion deployment remains on track for construction
completion and service availability to all premises by the end
of 2022.
• We are approximately 91% 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 $ 9,073,699 $ 8,422,067 $ (651,632)
Operating Expense2 $ 9,036,184 $ 5,128,723 $ 3,907,461
Net Operations $ 37,515 $ 3,293,343 $ 3,255,829
Investment Income (Expense) $ (2,096,850) $ (2,913,587) $ (816,737)
Net Total $ (2,059,335) $ 379,756 $ 2,439,092
APPROPRIATED
BUDGET
PROJECT TO DATE REMAINING
Construction $ 142,808,249 $ 129,414,669 $ 13,393,580
1 Excludes investment earnings on bond proceeds
2 Excludes Depreciation and Interest Expense