HomeMy WebLinkAbout13, Mid Cycle Budget Review-FY14 Year End Financial Results and Routine Transfers
Action Item #13 and Routine Transfers End Financial Results -YearConsideration of the FY14
FY14 Year 2 end -cycle review; FY15 year-of-February 2016 end–year review of FY15-July 15, 2015 mid–end-cycle review; FY14 year-February 11, 2015 (tonight) mid–year review of FY14-July
16, 2014 mid–November 20, 2013, Board adopted FY14 & FY15 Budget–year budget cycle-Existing 2–st Fiscal year ends December 31–•Background / History and TransfersEnd Financial Results
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New Information 676765of EmployeesAverage Number 12,66812,67712,551Water Customers13,34913,41613,283Electric CustomersActualFY14 BudgetFY14 ActualFY13 Statistics and TransfersEnd Financial
Results -FY14 Year 3
FY14 Year 4 mandated drought response measures-and stateWater revenue was 2% less than budget due to conservation –Electric revenue was 5% less than budget primarily due to –Water rates
increased 3%–Electric rates remained unchanged–FY14 Revenue•New Information and TransfersEnd Financial Results -
FY14 Year 5 were deferred into the next yearElectric and Water SCADA and communication related projects –FY14 Capital Projects•productionWater operating expenses were lower due to less
water –decreased consumption and lower pricesElectric purchased power expense was less than budget due to –Electric operating expenses were on target–FY14 Operating Expenses•New Information
and TransfersEnd Financial Results -
Overall District and TransfersEnd Financial Results -FY14 Year 6
Electric Utility and TransfersEnd Financial Results -FY14 Year 7
Water Utility End Financial Results -FY14 Year 8
New Information and TransfersEnd Financial Results -FY14 Year 9 Balance as of December 31, 2014 was $452,033–Spending in the past 5 years was $2,304,403–Fees collected in past 5 years
were $1,268,222–Water Facilities Fees–Balance as of December 31, 2014 was $205,186–Spending in the past 5 years was $1,354,983–Fees collected in past 5 years were $601,123–Electric
Facilities Fees–year period-mandated 5In compliance with spending facilities fees within the –Facilities Fees•
10 and TransfersEnd Financial Results -FY14 Year
FY14 Year 11 reserve balances and debtAugust 19, 2015 review Board financial goals including •July 15, 2015 review water rates with Board (Prop. 218)•November 2015 Board adopts FY16
& FY17 Budget–Year Financial Master Plan-October 2015 staff presents 10–September 2015 staff begins presenting data to the Board–June 2015 staff analyzes data–Next budget cycle FY16
& FY17•end-cycle review; FY15 year-of-February 2016 end–year review of FY15-July 15, 2015 mid–Current FY14 & FY15 budget cycle•Next Steps and TransfersEnd Financial Results -
Fiscal Impact End Financial Results -FY14 Year 12 Master Planyear Financial -end results are consistent with the 10-Year•
Recommendation and TransfersEnd Financial Results -FY14 Year 13 Water Capital Replacement ReserveTransfer $113,000 from the Water General Fund to the b)Electric Capital Replacement
ReserveTransfer $545,000 from the Electric General Fund to the a)Authorize the following transfers:•