HomeMy WebLinkAbout9, Budget FY16 and FY17 3
Consideration of Approving Budget Item #9 November 18, 2015 Approve Transfersc)Adopt Purchase Power Planb)Adopt Budgeta)the FY16 and FY17 Budget
Budget Process Schedule 2 FY16 and FY17 Budget Purchase Power Plan•September 16Existing debt•Labor•Organization chart•Budget assumptions•Mission, goals and objectives•September 2
Budget Process Schedule 3 FY16 and FY17 Budget Electric and water reserves•Financial Master Plan•Support services operational and capital budgets•budgetSet public hearing date for •October
21Electric and Water operational and capital budgets•October 7
Budget Process Schedule 4 FY16 and FY17 Budget Consider adopting FY16 & FY17 budget •November 18 (tonight)Financial Master Plan•budgetdraft –hearing Public •Budget reviewDraft FY16 &
FY17 •November 4
Background / History 5 17 An engineer is expected to be added in FY-An electrician is expected to be added in FY16-Labor increase of 5% for FY16 and 3% for FY17-Labor•A maximum increase
of 5% in FY17-Annual increase of 6% in FY16-Water rates-No planned electric rate increase in FY16 & FY17-No new debt-Inflation is expected to be 3% for FY17-On September 2, staff presented
the following assumptions•
Comparison of FY16 Budget to FY15 Budget FY16 and FY17 Budget 6(in thousands)
7(in thousands)Comparison of FY16 Budget to FY17 Budget FY16 and FY17 Budget
Existing and proposed overhead allocation rates FY16 and FY17 Budget 8
New Information FY16 and FY17 Budget FY16 Resource Mix 43%Renewables12%Gas) Trans Jordan (Landfill 24%Horse Butte (Wind)7%Stampede2%Veyo (Heat Recovery)17%UAMPS Pool11%Payson24%PurchaseLong
Term Market 3%Fallon Exchange 9 FY16-Proposed Resource Portfolio •
Fallon Exchange FY16 and FY17 Budget 10 FY17–Proposed Resource Portfolio •New Information FY17 RESOURCE MIX 44%Renewables12%Gas) Trans Jordan (Landfill 25%Horse Butte (Wind)7%Stampede
(Small Hydro)0.3%Pleasant Valley (Wind)7%Veyo (Heat Recovery)15%Market Purchase13%UAMPS Pool11%Payson (Natural Gas)7%Market Purchase3%
11 Electric-Budgeted Transfers FY16 and FY17 Budget
12 Water-Budgeted Transfers FY16 and FY17 Budget
FY16 and FY17 Budget
FY16 and FY17 Budget
Fiscal Impact FY16 and FY17 Budget 15 This budget will affect the District’s spending for the next •
Recommendation FY16 and FY17 Budget 16 Approve the related budgeted transfers•Adopt the FY16 and FY17 Purchase Power Plan •FY17 Budget and overhead allocations 22 to adopt the FY16 and
-Approve the Resolution 2015•
17
18(in thousands)Reserve and Operating Cash Balances FY16 and FY17 Budget
19(in thousands)Capital Spending FY16 and FY17 Budget
20(thousands)Electric Financial Master Plan FY16 and FY17 Budget
FY16 and FY17 Budget(thousands)Water Financial Master Plan
22 financial goals to be met sooner and reduce future annual % increasesLess than inflationary rate increases starting in FY17 would allow District •minimal rate increases (4%) starting
in the FY18 & FY19 budget cycleThe Financial Master Plan proposes meeting financial goals in 2024 with •Electric Utility–Financial Master Plan FY16 and FY17 Budget