HomeMy WebLinkAbout16 District Financial Performance Agenda Item # 16
DONNER
Public Utility District
WORKSHOP
To: Board of Directors
From: Robert Mescher
Date: July 16, 2014
Subject: Mid-Year Budget Review of the District's Financial Performance
1. WHY THIS MATTER IS BEFORE THE BOARD
This is a mid-year review with the Board of the financial results as of June 2014.
2. HISTORY
The Board approved the FY14 Budget on November 20, 2013.
District Code requires a semiannual review of the budgeted revenue and expenditures
as compared to the year-to-date actual revenue and expenditures.
3. NEW INFORMATION
Overall, the District is on track with the FY14 budget. Staff is recommending no
adjustments to the approved FY14 budget at this time.
Attachment 1 is the budget comparison of the Electric Utility. Revenue was 50% of
budget as of June 30th and is projected to be slightly less than budget by year-end
due to weather and lower than anticipated joint pole revenue. The mid-year expenses
were 46% of budget and are projected slightly under budget by the end of the year.
The capital projects for the first half of the year were 35% of budget. Rate funded
capital projects are projected to be on target by the end of the year.
Attachment 2 is the budget comparison for the Water Utility. Revenue was 46% of
budget, and is projected to be the same as budgeted by year-end. The mid-year
expenses were 45% of budget and are projected to be slightly less than the budget by
the end of the year. Overall, capital projects are projected to be on target by the end of
the year.
4. FISCAL IMPACT
There is no direct fiscal impact associated with this item.
5. RECOMMENDATION
Review this report and provide direction to staff.
Robert Mescher Michael D. Holley
Administrative Services Manager General Manager
Attachment 1
Truckee Donner Public Utility District
Electric Revenue
as of June 30,2014
Projection
12 Mo YTD %of %of
Budget Actual Budget End of Yr Budget
Residential $ 12,003,013 $ 6,322,028 53% $ 11,640,000 97%
Commercial 9,107,216 4,439,171 49% 9,020,000 99%
Interdept.Sales&Rent 1,607,772 690,722 43% 1,640,000 102%
Standby 25,490 - 0% 25,490 100%
AT&T Joint Pole 407,778 92,197 23% 203,889 50%
Other 157,400 80,902 51% 157,400 100%
Total $ 23,308,669 $ 11,625,020 50% $ 22,686,779 97%
Electric Operating Expenses
as of June 30,2014
Projection
12 Mo YTD %of %of
Cost Center Budget Actual Budget End of Yr Budget
Board of Directors $ 113,066 $ 41,353 37% $ 104,000 92%
General Management 561,167 301,487 54% 561,000 100%
Administrative Svcs. 1,298,289 591,016 46% 1,233,000 95%
Public Info.&Consrv. 1,385,297 611,867 44% 1,358,000 98%
Operations 3,722,051 1,722,452 46% 3,462,000 93%
IT/GIS 562,050 261,134 46% 562,000 100%
Building Maintenance 477,261 162,439 34% 453,000 95%
Purchase Power 12,262,979 5,768,523 47% 12,140,000 99%
Total $ 20,382,160 $ 9,460,271 46% $ 19,873,000 98%
Electric Capital Projects
as of June 30,2014
Projection
12 Mo YTD %of %of
Source of Funds Budget Actual Budget End of Yr Budget
Rates $ 3,065,081 $ 924,805 30% $ 3,059,336 100%
Facilities Fees - - 0% - 0%
Vehicle Reserve 478,816 325,378 68% 340,378 71%
Total $ 3,543,897 $ 1,250,183 35% $ 3,399,714 96%
Attachment 2
Truckee Donner Public Utility District
Water Revenue
as of June 30,2014
Projection
12 Mo YTD %of %of
Budget Actual Budget End of Yr Budget
Residential $ 8,912,133 $ 4,223,509 47% $ 8,823,000 99%
Commercial 1,414,158 548,275 39% 1,485,000 105%
Standby&Fire Protection 157,440 - 0% 157,440 100%
Other 263,302 127,401 48% 263,000 100%
Total $ 10,747,033 $ 4,899,185 46% $ 10,728,440 100%
Water Operating Expenses
as of June 30,2014
Projection
12 Mo YTD %of %of
Cost Center Budget Actual Budget End of Yr Budget
Board of Directors $ 113,066 $ 41,095 36% $ 104,000 92%
General Management 443,378 232,763 52% 443,000 100%
Administrative Svcs. 1,126,254 516,958 46% 1,070,000 95%
Public Info.&Consrv. 319,644 134,417 42% 313,000 98%
Operations 5,029,630 2,284,459 45% 4,778,000 95%
IT/GIS 554,441 228,741 41%1 554,000 100%
Total $ 7,586,413 $ 3,438,433 45% $ 7,262,000 96%
Water Capital Projects
as of June 30,2014
Projection
12 Mo YTD %of %of
Source of Funds Budget Actual Budget End of Yr Budget
Rates $ 809,201 $ 140,764 17% $ 678,025 84%
Capital Reserve 1,337,808 536,385 40% 1,459,928 109%
Vehicle Reserve 47,617 - 0% 47,000 99%
Future Water Meters 394,659 134,901 34% 390,000 99%
Total $ 2,589,285 $ 812,050 31% $ 2,574,953 99%