HomeMy WebLinkAbout12 Budget, FMP and Projected Reserve Balances
BUDGET ITEM #12 Projected Reserve Balances•Financial Master Plan•FY20 and FY21 BudgetProjected Reserve Balances•Financial Master Plan•FY20 and FY21 Budget, 20192October
FY20 year span-10•to identify any challengesterm financial goals and -Tool to ensure progress towards Board’s long•Presented to the Board periodically since 2006•Financial Master Plan•BACKGROUND
/ HISTORY Financial Master Plan–FY21 and FY20 Financial Master Plan–FY21 and
NEW INFORMATION Financial Master Plan–Budget FY21 and FY20 Financial Master Plan–Budget FY21 and FY20 FY19Cash and Reserve Goals have been updated to match those adopted in •CalPERS
changes for the discount rate have been included•decreaseevenue could significantly RStarting in FY21 the Cap and Trade •Interest earned is an average of just under 2%•extinguisheddebt
shared by Electric and Water is also SidefundIn FY22, Pension •Prop 55 bondsIn FY22, Water Utility debt decreases with extinguishing 2006 COP and •No new debt••1% annual increase in
customer growth•Assumptions•
NEW INFORMATION Financial Master Plan–Budget FY21 and FY20 Financial Master Plan–Budget FY21 and FY20
NEW INFORMATION Financial Master Plan–Budget FY21 and FY20 Financial Master Plan–Budget FY21 and FY20
NEW INFORMATION Financial Master Plan–Budget FY21 and FY20 Financial Master Plan–Budget FY21 and FY20
NEW INFORMATION Financial Master Plan–Budget FY21 and FY20 Financial Master Plan–Budget FY21 and FY20
FISCAL IMPACT term goals-Budget is consistent with the District’s longThe Finance Master Plan validates that the proposed FY20 and FY21 •Financial Master Plan–Budget FY21 and FY20 Financial
Master Plan–Budget FY21 and FY20
RECOMMENDATION Receive this report and provide comments to staff•Financial Master Plan–Budget FY21 and FY20 Financial Master Plan–Budget FY21 and FY20