HomeMy WebLinkAbout12 FY15 Mid-Cycle Year-End Budget Review
ACTION ITEM #12 Financial Results and Routine TransfersEnd -Consideration of the FY15 YearFinancial Results and Routine TransfersEnd -Consideration of the FY15 Year FEBRUARY 17, 2016
FY15 Year-preliminary FY15 yearcycle review; -of-endFebruary 17, 2016 (tonight) •FY15year review of -midAugust 19, 2015 •FY15budget carryovers to end including authorization of routine
transfers and -Preliminary year•reviewcycle -11, 2015 FY14 midFebruary •Budget20, 2013, Board adopted FY14 & FY15 November •cycle FY14 and FY15budget year -2•st Fiscal Year ends December
31•rocesspBudget •BACKGROUND / HISTORY End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-
NEW INFORMATION 706867EmployeesAverage Number of 12,77212,80312,668Water Customers13,55913,55013,349Electric Customers ActualFY15 BudgetFY15ActualFY14 Statistics End Financial Results
and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-FY15 Year
NEW INFORMATION mandated drought response measures-stateWater revenue was 4% less than budget due to conservation and •%rates increased 3Water •weather Electric revenue was 4% less than
budget primarily due to milder winter •Electric rates remained unchanged•FY15 Revenue•End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-FY15
Year
NEW INFORMATION Water operating expenses were 1% lower than budget•decreased consumption and lower transmission costsElectric purchased power expense was 9% less than budget due to •budgetElectric
operations came in under budget with expenses being 7% less than •FY15 Operating Expenses•End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-FY15
Year
NEW INFORMATION Project ($697,000)Underbuild2009 Donner Lake •In Electric Vehicle Charge Stations ($181,000)-Plug•FY14 Deferred Radio System Upgrade ($400,000) •Donner Lake Substation
Rebuild ($1,578,000)•Electric Utility significant capital projects completed in FY15•FY15 Capital Projects•End Financial Results and Routine Transfers-FY15 YearEnd Financial Results
and Routine Transfers-FY15 Year
NEW INFORMATION Completion of utility specific upgrades to put Backhoe and Truck •Water Vehicle Reserve Fund•Sun Valley Pipeline Replacement•Pipeline ReplacementNorthwoods•2015 Pipeline
replacements ($1,720,000)•Continuation of Water SCADA system replacement ($430,000)•Water Utility capital projects completed in FY15•FY15 Capital Projects•End Financial Results and
Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-FY15 Year
FY15 Year NEW INFORMATION End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-
FY15 Year NEW INFORMATION End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-
FY15 Year NEW INFORMATION End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-
NEW INFORMATION requested transfer for debt service)Balance as of December 31, 2015 $514,000 (including $509,000 •$2,046,000Spending in the past 5 years •$1,670,000Fees collected in
past 5 years •Facilities FeesWater •Zero balance as of December 31, 2015•Spending in the past 5 years $1,231,000•Fees collected in past 5 years were $712,000•Electric Facilities Fees•periodyear
-In compliance with spending facilities fees within the mandated 5•Facilities Fees•End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-FY15
Year
FY15 Year NEW INFORMATION End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-
FY15 Year NEW INFORMATION end-yearFY17 cycle review; -of-end2018, February •FY17year review of -mid2017, July •end-yearFY16 cycle review; -mid2017, February •FY16year review of -midAugust
2016, •BudgetFY17 & FY16 Board adopted 18, 2015, November •-2•& FY16 •BudgetSchedule for the Current End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine
Transfers-
FISCAL IMPACT Planyear Financial Master -end results are consistent with the 10-Year•End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-FY15
Year
RECOMMENDATION End Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-FY15 Year Vehicle Reservethe Water Water General Fund to from the $9,000
Transfer c)Fundfrom the Water Facilities Fees to the Water General $509,000Transfer b)ReserveProject UnderbuildTransfer $697,000 from Capital Reserve to 2009 Energy a)the following
transfers:2. Authorize this reportstaff to file 1.
FY15 YearEnd Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-
FY15 YearEnd Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-
FY15 YearEnd Financial Results and Routine Transfers-FY15 YearEnd Financial Results and Routine Transfers-