HomeMy WebLinkAbout15 Financial Performance Agenda Item # 15
Public Utility District --i
WORKSHOP
To: Board of Directors
From: Bob Mescher
Date: July 16, 2008
Subject: Semi-Annual Review of the District's Financial Performance
Through June, 2008
1. WHY THIS MATTER IS BEFORE THE BOARD
This is a semi-annual review with the Board of the financial results as of June 2008.
2. HISTORY
District Code, Title 3, Section 3.16.030.7(D) requires that the Board be presented with
a semi-annual budget report showing the status of budgeted expenditures compared
to actual expenditures at a Board workshop after the close of the June financial
records.
3. NEW INFORMATION
Overall, the actual District operating revenue is on track with the 2008 budget. Electric
Division's rents and miscellaneous revenue exceeds budget primarily do to some
unanticipated revenue. The actual District operating expenditures are also on target
with the 2008 budget.
Although the first half of actual revenue and expenses are less than half of the 2008
budget, increased activities during the last half of the year will result in an increased
rate of revenue and expenditures. It is predicted that the end-of-year expenditures will
be on target and near 100% of the 2008 budget.
Attached are tables that include a breakdown of revenue and expenditures.
Staff anticipates the need to rearrange particular budget components for the next half
of the fiscal year. An action item will be brought to the Board at the next meeting.
4. FISCAL IMPACT
There is no direct fiscal impact associated with this matter.
5. RECOMMENDATION
Review this report and provide comments.
Mary Chapman Michael D. Holley
Administrative Services Manager General Manager
Truckee Donner Public Utility District
Semi-annual Financial Results
Actual Operational Revenue versus Budget
As of June 30, 2008
YTD 12 Mo % of End of Yr % of
Revenue Division Actual Budget Budget Projection Budget
1 Electric
Residential $ 5,367,420 $ 11,263,839 47.7% $11,263,839 100.0%
Commercial 3,879,571 9,240,716 42.0% 9,240,716 100.0%
Interdepartmental Sales 544,609 1,595,936 34.1% 1,595,936 100.0%
Interdepartmental Rents 137,022 274,053 50.0% 274,053 100.0%
Miscellaneous Rents 44,811 19,447 230.4% 64,258 330.4%
Standby - 23,310 0.0% 23,310 100.0%
Miscellaneous 282,668 353,342 80.0% 390,342 110.5%
Total Electric 10,256,101 22,770,643 45.0% $22,852,454 100.4%
2 Water
Residential $ 3,689,349 $ 8,030,681 45.9% $ 8,030,681 100.0%
Commercial 391,938 1,030,994 38.0% 1,030,994 100.0%
Interdepartmental Sales 712 1,441 49.4% 1,441 100.0%
Fire Protection 56,755 129,772 43.7% 129,772 100.0%
Rents 19,362 26,236 73.8% 26,236 100.0%
Standby - 154,000 0.0% 154,000 100.0%
Miscellaneous 200,000 363,298 55.1% 363,298 100.0%
Total Water 4,358,116 9,736,422 44.8% $ 9,736,422 100.0%
Total District
$
Residential 9,056,769 $ 19,294,520 46.9% $19,294,520 100.0%
4,271,509 10,271,710 41.6% 10,271,710 100.0%
Commercial
Interdepartmental Sales 545,321 1,597,377 34.1% 1,597,377 100.0%
Interdepartmental Rents 137,022 274,053 50.0% 274,053 100.0%
Fire Protection 56,755 129,772 43.7% 129,772 100.0%
Rents 64,173 45,683 140.5% 90,494 198.1%
Standby - 177,310 0.0% 177,310 100.0%
Miscellaneous 482,668 716,640 67.4% 753,640 105.2%
Grand Total District $ 14,614,217 $32,507,065 45.0% $32,588,876 100.3%
Miscellaneous electric revenue is over the budget primarily due to an unanticipated sale to
US Army Corp of Engineers of GIS information. Electric rents are over the budget primarily
due to a back-billing of pole contact rent to AT&T.
Truckee Donner Public Utility District
Semi-annual Financial Results
Actual Operational Expenditures versus Budget-
As of June 30, 2008
Balance
YTD 12 Mo %of End of Yr % of
Cost Center Actual Budget Balance Budget Projection Budget
Electric
1 Board of Directors $ 33,506 $ 85,836 $ 52,330 61.0% $ 85,836 100.0%
2 General Manager 250,696 404,577 153,881 38.0% 449,577 111.1%
3 Administrative Services 777,669 1,647,409 869,740 52.8% 1,647,409 100.0%
4 Public Information &Conservation 411,776 1,134,410 722,634 63.7% 1,134,410 100.0%
5 General Services 232,697 394,545 161,848 41.0% 394,545 100.0%
6 Electric Operations 1,289,371 2,810,510 1,521,139 48.1% 2,517,514 100.0%
9 Power Supply 266,197 517,574 251,377 48.6% 106,410 100.0%
Purchase Power 5,670,953 11,106,410 5,435,457 48.9% 11,106,410 100.0%
Total $ 8,932,865 $ 18,101,271 $ %9,168,406 50.7 $ 18,146,271 100.2%
Water
1 Board of Directors $ 31,645 $ 82,836 $ 51,191 61.8% $ 82,836 100.0%
187,777 348,792 161,015 46.2% 373,792 107.2%
2 General Manager
531,214 1,069,155 537,941 50.3% 1,069,155 100.0%
3 Administrative Services
4 Public Information &Conservation 22,089 51,903 29,814 57.4% 51,903 100.0%
24,583 79,328 54,745 69.0% 79,328 100.0%
5 General Services
1,904,533 41479,511 2,574,978 57.5% 4,479,511 100.0%
7 Water Operations
117,714 202,881 85,167 42.0% 202,881 100.0%
9 Power Supply
0.0% 0.0%
Purchase Power
Total $ 2,819,555 $ 6,314,406 $ 3,494,851 55.3% $ 6,339,406 100.4 0
Total District
1 Board of Directors $ 65,151 $ 168,672 $ 103,521 61.4% $ 168,672 100.0%
2 General Manager 438,473 753,369 314,896 41.8% 823,369 109.3%
1,308,883 2,716,564 1,407,681 51.8% 2,716,564 100.0%
3 Administrative Services
1,186,313
4 Public Information &Conservation 433,865 752,448 63.4% 1,186,313 100.0%
5 General Services 257,280 473,873 216,593 45.7% , 100.0%
6 Electric Operations 1,289,371 2,810,510 1,521,139 54.1% 2,881010,551010 100.0%
7 Water Operations 1,904,533 4,479,511 2,574,978 57.5% 4,479,511 100.0%
9 Power Supply 383,911 720,455 336,544 46.7% 720,455 100.0%
Purchase Power 5,670,953 11,106,410 5,435,457 48.9% 11,106,410 100.0%
Total $11,752,420 $ 24,415,677 $ 12,663,257 51.9% $ 24,485,677 100.3%
A$70,000 deficit is projected at the end of the year for Cost Center 2 -General Manager because there is
$50,000 of unanticipated consulting from the former interim general manager and $20,000 of under-budgeted
NCPA dues.
Truckee Donner Public Utility District
Semi-annual Financial Results
Actual Capital Expenditures versus Budget
As of June 30, 2008
6Mo 12Mo
Cost Center Actual Budget Balance %
Total District _ $ $ _ 0.0%
1 Board of Directors $ 435,050 426,251 98.0%
2 General Manager 8,
29,862 862 183,000 153,138 83.7%
3 Administrative Services _ _ 0.0%
4 Public Information & Conservation 32,494 30,734 94.6%
5 General Services 1, 0
6 Electric Operations 963,643 3,550,729 2,587,086 72.9%
7 Water Operations 1,044,595 6,547,238 5,502,643 84.0%
9 Power Supply 515 32,500 31,985 98.4%
Total District Expenditures $ 2,049,174 10,781,011 $ 8,731,837 81.0%
Expenditures not funded by District 1,570,845
Developer Contributions 454,525
Customer Contributions $ 12,806,381
Total Capital Budget