HomeMy WebLinkAbout9 Financial Performance Agenda Item # 9
TRUCKEE R
DistrictPublic Utility
WORKSHOP
To: Board of Directors
From: Bob Mescher
Date: July 15, 2009
Subject: Semi-Annual Review of the District's Financial Performance
Through June, 2009
1. WHY THIS MATTER IS BEFORE THE BOARD
This is a semi-annual review with the Board of the financial results as of June 2009.
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 June financial accounting.
3. NEW INFORMATION
Overall, the actual District operating revenue is on track with the FY09 budget. The
actual District operating expenditures are also on target with the FY09 budget.
The first half of actual revenue is equal to half of the FY09 budgeted revenue
(Attachment 1). Electric revenue is 50% of budget and is expected to continue to be
in-line with the FY09 budget by the end of the year. Water revenue is 50% of budget
and is also expected to continue in-line with FY09 budget through the end of the year.
Electric and Water operating expenses are 46% of budget, and are primarily lower
due to lower purchase power costs, lower general operating costs, and conservation
programs not yet implemented in the first half of the year (Attachment 2). It is
anticipated, however, that expenses will match the FY09 budget by the end of the
year.
Year to date capital expenditures are only 15% of the FY09 budget, but many of the
large projects just began last month and are expected to be in-line with the FY09
budget by the end of the year, with the exception of the budgeted Martis Well ($1.3
million) and the 2009 Test Wells ($0.5 million), funded by facilities fees, that will not
start until after 2009 (Attachment 3).
4. FISCAL IMPACT
There is no direct fiscal impact associated with this matter.
5. RECOMMENDATION
Review this report and provide comments.
Mary Chap n Michael D. Holley
Administrative Services Manager General Manager
Attachment 1
Truckee Donner Public Utility District
Electric Revenue
as of June 30, 2009
Projection
YTD 12 Mo % of % of
Actual Budget Budget End of Yr Budget
Residential $ 6,416,975 $ 12,038,924 53.3% $12,038,924 100.0%
Commercial 4,567,182 9,476,392 48.2% 9,476,392 100.0%
Interdept. Sales & Rent 777,517 1,875,678 41.5% 1,875,678 100.0%
Other 139,495 278,078 50.2% 278,078 100.0%
Total $11,901,169 $ 23,669,072 50.3%1 $23,669,072 100.0%
Truckee Donner Public Utility District
Water Revenue
as of June 30, 2009
Projection
YTD 12 Mo % of % of
Revenue Actual Budget Budget End of Yr Budget
Residential $4,282,168 $ 8,227,046 52.0% $ 8,227,046 100.0%
Commercial 415,144 1,142,708 36.3% 1,142,708 100.0%
Meter Reserve Surcharge 375,214 752,100 49.9% 752,100 100.0%
Interdept. Sales & Rent 742 1,439 51.6% 1,439 100.0%
Other 172,546 447,563 38.6% 447,563 100.0%
Total $5,245,814 $10,570,856 49.6% $10,570,856 100.0%
Attachment 2
Truckee Donner Public Utility District
Electric Operating Expenses
as of June 30, 2009
Projection
YTD 12 Mo % of % of
Cost Center Actual Budget Budget End of Yr Budget
Board of Directors $ 47,206 $ 82,303 57.4% $ 82,303 100.0%
General Management 200,750 476,458 42.1% 476,458 100.0%
Administrative Svcs. 837,682 1,720,375 48.7% 1,720,375 100.0%
Public Info. & Consrv. 497,965 1,333,812 37.3% 1,333,812 100.0%
Operations 1,509,897 3,417,097 44.2% 3,417,097 100.0%
Power Supply (GIS) 235,505 559,849 42.1% 559,849 100.0%
Purchase Power 5,202,216 11,104,634 46.8% 11,104,634 100.0%
Total $ 8,531,221 $ 18,694,528 45.6%1 $18,694,528 100.0%
Truckee Donner Public Utility District
Water Operating Expenses
as of June 30, 2009
Projection
YTD 12 Mo % of % of
Cost Center Actual Budget Budget End of Yr Budget
Board of Directors $ 21,152 $ 79,303 26.7% $ 79,303 100.0%
General Management 161,447 399,057 40.5% 399,057 100.0%
Administrative Svcs. 530,383 1,157,652 45.8% 1,157,652 100.0%
Public Info. & Consrv. 56,534 184,763 30.6% 184,763 100.0%
Operations 2,271,147 4,862,871 46.7% 4,862,871 100.0%
Power Supply (GIS) 119,523 242,698 49.2% 242,698 100.0%
Total $3,160,186 $ 6,926,344 -45.6%1 $ 6,926,344 100.0%
Attachment 3
Truckee Donner Public Utility District
Electric &Water Capital Projects
as of June 30, 2009
Projection
YTD 12 Mo % of % of
Cost Center Actual Budget Budget End of Yr Budget
Board of Directors - - 0.0% - 0.0%
General Management 19,566 - 0.0% 19,566 0.0%
Administrative Svcs. 22,162 88,000 25.2% 88,000 100.0%
Public Info. & Consrv. - 40,000 0.0% 40,000 100.0%
Electric 351,349 1,964,890 17.9% 1,945,324 99.0%
Water 1,150,969 8,599,410 13.4% 6,799,995 79.1%
Power Supply (GIS) 12,989 38,781 33.5% 38,781 100.0%
Total $ 1,557,035 $ 10,731,081 14.5% $ 8,931,666 83.2%