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Home My WebLink About8 Annual Transfers Agenda Item # 8 Public Utility District CONSENT To: Board of Directors From: Bob Mescher Date: February 03, 2010 Subject: Authorize Annual Transfers from Facilities Fees to General Funds 1. WHY THIS MATTER IS BEFORE THE BOARD Only the Board can authorize transfers from restricted facilities fees funds. 2. HISTORY During the budget process, staff lists the planned capital projects for the year and declares their funding source. Additionally, during the year the District makes system upgrades that are eligible for reimbursement from the restricted facilities fees funds. Staff presents transfer requests to the Board for authorization. 3. NEW INFORMATION Attachment 1 is a list of projects that were constructed with general fund money that are eligible for funding from facilities fees. Attachment 2 is a five-year report showing the balance of facilities fees on deposit as of December 31, 2009. AB 1600 requires that the District refund any facilities fees that are older than five years, unless special circumstances exist where the money is held for pending large projects. This report shows that in both the Electric Facilities Fees Fund and the Water Facilities Fees Fund, the District does not have any funds older than five years. 4. FISCAL IMPACT This action reimburses the electric and water general funds for facilities fees projects and costs advanced by the electric and water general funds. 5. RECOMMENDATION 1) Transfer$960,042.30 from the Electric Facilities Fees Fund to the Electric General Fund. 2)Transfer$1,394,281.29 from the Water Facilities Fees Fund to the Water General Fund. 3) Accept the five-year report showing that the District is in compliance with AB 1600 and does not not have facilities fees on deposit that are older than five years old. b. Mary Cha n ael D. Holley Administrative Services Manager General Manager ATTACHMENT 1 ELECTRIC FACILITIES FEES PROJECTS: WO#07-64543 Donner Lake Circuit 3 - New Feeder $8789555.87 Construct approximately 12,000 feet of new 12.47kV distribution underbuild on the 60kV transmission line that connects Donner Lake and Tahoe Donner Substations. $921,001 is the total project cost to date. $42,445 was previously authorized for transfer, leaving a balance of$878,555.87. WO #08-64552 Electric Master Plan - Electrical Consultants, Inc ($309736.33) To correct 2008 over-reimbursement. The Master Plan is for various projects and is too difficult to allocate costs to specific projects. We are reversing the 2008 reimbursement. WO#07-64545 Donner Lake Substation Upgrade $44,927.76 Upgrade Donner Lake Substation from 3.75MVA to 15MVA. $289,845 is the total project cost to date. $244,917 was previously authorized for transfer, leaving a balance of $44,927.76. WO#09-64556 Tahoe Donner 3 Reconductor#1 $549395.00 Reconductor approximately 1,500 feet of existing single phase overhead distribution line (Tahoe Donner Circuit 3)to three phase construction along Skislope Way from Teton to Davos and along Davos to Northwoods Blvd. $54,395 is the total project cost to date. WO #09-64557 Relocate U/G, Install Vaults $12,900.00 Relocate PUD facilities to accommodate the 2009 District Pipeline Replacement project. $12,900 is the total project cost to date. Total 2009 project cost to date for electric facility fees transfer $9609042.30 Page 1 of 2 ATTACHMENT 1 WATER FACILITIES FEES PROJECTS: WO#09-74653 Emergency Power Supply $146,330.00 Emergency power supply for Richards & Innsbrook pump stations. $146,330 is the total project cost to date. WO#05-74618 Sierra Meadows Pump Station $549493.84 Continuation of building a new booster station to replace the old Sierra Meadows pump station that is at the end of its service life. $254,100 is the total project cost. $199,606 was previously authorized for transfer, leaving a balance of$54,493.84. WO #06-74634 Fibreboard Well $5689495.19 Construction of new water supply per the Water Master Plan. $1,485,605 is the total project cost to date. $917,110 was previously authorized for transfer, leaving a balance of $568,495.19. WO#07-74646 Stockholm Booster Pump Station $2099188.92 Upgrade pump station per the Water Master Plan. $290,371 is the total project cost to date. $81,182 was previously authorized for transfer, leaving a balance of$209,188.92. WO#06-74627 SCADA Replacement Project $229277.00 Upgrade the SCADA system. $22,277 is the total project cost to date. 2006 Certificates of Participation Debt Service Payment $356,593.34 Annual transfer of the 2009 principal and interest payments that are eligible for funding from facilities fees. 2009 District Pipeline Project Facility Fee Portion of Contract B &C $36,903.00 Portion of the 2009 District Pipeline Replacement project, contracts B&C, that are eligible for funding from facilities fees. Total 2009 project cost to date for water facility fees transfer $1,3949281.29 Page 2of2 ATTACHMENT 2 FACILITIES FEES ANNUAL STATUS REPORT 01/20/10 Prepared 1/22/10 ELECTRIC FACILITIES FEES: 1.0.136.90 Summary 5 Years 2005 2006 2007 2008 2009 Ended 12/31/2009 Beginning Balance $778,448.52 $763,335.41 $1,657,525.63 $2,036,680.93 $1,798,480.33 $778,448.52 Facilities fees collected during year 616,905.82 938,904.50 392,858.00 130,082.00 72,884.00 2,151,634.32 Interest earnings during period 29,378.94 53,941.01 91,315.90 80,284.53 33,428.99 288,349.37 Project expenditures during period (661,397.87) (98,655.29) (105,018.60) (448,567.13) (960,042.30) (2,273,681.19) (See Attached List of Projects) Ending Balance $763,335.41 $1,657,525.63 $2,036,680.93 $1,798,480.33 $944,751.02 $944,751.02 Total amount available-See NOTE { y 2,151,634.32 Less:Amount collected over last 5 years ($1,206,883.30)Amount greater than 5 years old-NONE f WATER FACILITIES FEES: 2.0.136.25 Summary 5 Years 2005 2006 2007 2008 2009 Ended 12/31/2009 Beginning Balance $1,668,655.16 $2,647,051.17 $4,079,539.79 $4,541,770.11 $2,652,408.66 $1,668,655.16 Facilities fees collected during period 1,582,987.34 1,165,591.44 959,870.43 294,353.40 155,519.36 4,158,321.97 I I Facilities fee from 2006 COP 0.00 4,580,000.00 0.00 0.00 0.00 4,580,000.00 Reimbursement from electric-Wire to Water 0.00 0.00 1,127,490.70 87,500.00 0.00 1,214,990.70 Interest earnings during period 58,534.39 102,071.18 204,886.68 193,706.24 56,317.76 615,516.25 Project expenditures during period (663,125.72) (4,415,174.00) (1,413,431.75) (2,109,792.22) (1,037,687.95) (9,639,211.64) > (See Attached List of Projects) rt rt Loan Payments: n 2006 COPs-facilities fees share 0.00 0.00 (416,585.74) (355,128.87) (356,593.34) (1,128,307.95) Ending Balance $2,647,051.17 $4,079,539.79 $4,541,770.11 $2,652,408.66 $1,469,964.49 $1,469,964.49 Total amount available-See NOTE (D rr 4,158,321.97 Less:Amount collected over last 5 years N ($2,688,357.48)Amount greater than 5 years old-NONE NOTE: If"Total amount available"is greater than"Amount collected over the last 5 years",then the District has facilities fees on hand that are greater than 5 years old. If the amount of facilities fees on hand is greater than 5 years old,the District would have to either refund the money to customers or the Board would have to issue a finding that the money greater than 5 years old was being held to pay for a specific project. The spreadsheet shows that the District does not have any electric or water facilities fees on hand that are greater than 5 years old.