The green bar is the minimum 45 day recommended cash amount and the yellow is the excess or deficient cash on hand as of September 30, 2024. The Electrical division deficiency is set to be remedied shortly with MLGW issuing approximately $200M in debt. The table below the chart expands on cash detail and is based on the MLGW Monthly September 2024 Financial Report.
Chart
Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying $ MILLIONS $. Data ranges from -16031835 to 494552698.
End of interactive chart.
DIVISION
EXCESS %
EXCESS
45 DAY
ENDING
1
ALL
114
263,627,220
230,925,478
494,552,698
2
ELECTRIC
-9
-16,031,835
180,358,131
164,326,296
3
GAS
487
173,315,661
35,612,807
208,928,468
4
WATER
711
106,343,394
14,954,540
121,297,934
Projections All Divisions (2023-26)
Per Memphis 2023 City Council testimony, of MLGW CFO Dana Jeanes, projected excess MLGW cash (2024-2026). The 2023 amounts are actual. Excess cash is benchmarked against the 45-day cash on hand minimum, recommended by the Government Finance Officers Association. MLGW ended 2023 with excess cash, across all divisions of $247M or 110% above the 45-day minimum.
The Electrical division ended 2023 at $7.7M deficient of the 45-day minimum, supporting the need for a rate increase in 2024. Gas and water divisions had significant amounts of excess cash on their respective balance sheets. See all and individual divisions below:
Chart
Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying $ MILLIONS $. Data ranges from 225998664 to 523121000.
End of interactive chart.
Year
Excess %
Excess
45 Day
Ending
1
2023
110%
246,519,900
225,998,664
472,518,564
2
2024
128%
293,849,182
229,271,818
523,121,000
3
2025
104%
239,627,045
231,234,954
470,862,000
4
2026
73%
166,672,850
227,373,149
394,046,000
Electric Division
Chart
Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying $ MILLIONS $. Data ranges from -7731265 to 303373000.
End of interactive chart.
Year
Excess %
Excess
45 Day
Ending
1
2023
-4%
-7,731,265
173,953,456
166,222,191
2
2024
38%
68,541,806
181,434,194
249,976,000
3
2025
67%
121,349,200
182,023,800
303,373,000
4
2026
31%
54,922,237
176,535,762
231,458,000
Gas Division
Chart
Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying $ MILLIONS $. Data ranges from 32842149 to 178729690.
End of interactive chart.
Year
Excess %
Excess
45 Day
Ending
1
2023
351%
139,109,808
39,619,882
178,729,690
2
2024
422%
138,666,851
32,842,149
171,509,000
3
2025
331%
111,352,922
33,630,077
144,983,000
4
2026
280%
96,993,473
34,640,526
131,634,000
Water Division
Chart
Bar chart with 2 data series.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying $ MILLIONS $. Data ranges from 12425326 to 127566683.
