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HomeMy WebLinkAbout9 Consideration of FY18 FY19 Budget ACTION ITEM #FY18 and FY19 BudgetConsideration of Approving the FY18 and FY19 BudgetConsideration of Approving the November 15, 2017 9 Consideration of Adoption of FY18 and FY19 Budget Scheduled public hearing•Discussed reserve funds and Financial Master Plan••October 18Discussed operating and capital budget for Electric and Water•Discussed Purchase Power Plan•October 4Discussed objective, goals, assumptions, labor and debt•September 6Budget Process Schedule BACKGROUND / HISTORY Consideration of Adoption of FY18 and FY19 Budget Consideration of Adoption of FY18 and FY19 Budget Consider adoption of the FY18 & FY19 Budget•November 15Present a draft of the FY18 & FY19 Budget•Conduct a public hearing regarding the budget•November 1Continued–Budget Process Schedule BACKGROUND / HISTORY Consideration of Adoption of FY18 and FY19 Budget NEW INFORMATION unrepresented employeesLabor cost increase of 4.5% budgeted for FY18 and 3% for FY19 for •employeesLabor cost increase of 3% budgeted for FY18 and FY19 for represented •of 3% for FY18 and FY19Budgeted water revenue includes the maximum potential rate increases •FY18 and FY19Budgeted electric revenue includes the 3% scheduled rate increases for •No new debt•3% inflation•General Budget Assumptions:Consideration of Adoption of FY18 and FY19 BudgetConsideration of Adoption of FY18 and FY19 Budget Consideration of Adoption of FY18 and FY19 Budget for the Water UtilityThis decreased the scheduled contribution to operating reserve •This increased Capital Expenditures for the Water Utility •$180K additional expense ($100K in FY18 and $80K in FY19)•Arc Flash Hazard Avoidance Study•Staff added to Capital Projects for Water Utility•One adjustment has been made to the draft FY18 and FY19 Budget•Budget Adjustment:NEW INFORMATION Consideration of Adoption of FY18 and FY19 Budget Consideration of Adoption of FY18 and FY19 Budget(in thousands)BudgetFY18 Budget to FY17 Comparison of NEW INFORMATION Consideration of Adoption of FY18 and FY19 Budget Consideration of Adoption of FY18 and FY19 Budget(in thousands)BudgetFY19 Budget to FY18 Comparison of NEW INFORMATION Consideration of Adoption of FY18 and FY19 Budget Consideration of Adoption of FY18 and FY19 Budget NEW INFORMATION roposed overhead allocation ratesP Consideration of Adoption of FY18 and FY19 Budget Consideration of Adoption of FY18 and FY19 Budget NEW INFORMATION FY18-Proposed Resource Portfolio •FY18 Resource Mix 50%Renewables15%Trans Jordan LFG1%TCID Small Hydro27%Horse Butte (Wind)7%Stampede (Small Hydro)0%, Pleasant Valley (Wind)7%Veyo (Heat Recovery)12%Net Market ( UAMPS), 6%Payson (Natural Gas)25%thru 3/20224/2017 -Market Purchase Consideration of Adoption of FY18 and FY19 Budget NEW INFORMATION FY19 RESOURCE MIX 50%Renewables15%Trans Jordan (Landfill Gas) 1%TCID Small Hydro27%7%Stampede (Small Hydro)7%24%thru 3/20224/2017 -Market Purchase 13%UAMPS Pool6%Payson (Natural Gas)0%Fallon Exchange FY19–Proposed Resource Portfolio •Consideration of Adoption of FY18 and FY19 BudgetConsideration of Adoption of FY18 and FY19 Budget NEW INFORMATION Electric Utility FY18 and FY19–Budgeted Transfers •Consideration of Adoption of FY18 and FY19 BudgetConsideration of Adoption of FY18 and FY19 Budget NEW INFORMATION Water Utility FY18 and FY19–Budgeted Transfers •Consideration of Adoption of FY18 and FY19 BudgetConsideration of Adoption of FY18 and FY19 Budget FISCAL IMPACT term goals-longThe proposed FY18 and FY19 budget is consistent with the District’s •FY19Staff is proposing a balanced budget for FY18 and •Consideration of Adoption of FY18 and FY19 BudgetConsideration of Adoption of FY18 and FY19 Budget RECOMMENDATION Approve the budgeted transfers as presented3.Adopt the FY18 and FY19 Purchase Power Plan2.15 to adopt the FY18 and FY19 budget-Approve the resolution 20171.Consideration of Adoption of FY18 and FY19 BudgetConsideration of Adoption of FY18 and FY19 Budget