FY 2017-18 Mid-Year Budget DON ECKERT DIRECTOR OF ADMINISTRATION - - PowerPoint PPT Presentation

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FY 2017-18 Mid-Year Budget DON ECKERT DIRECTOR OF ADMINISTRATION - - PowerPoint PPT Presentation

Dec 02, 2023 204 likes •318 views

Item 3 PRESENTATION FY 2017-18 Mid-Year Budget DON ECKERT DIRECTOR OF ADMINISTRATION & FINANCE Item 3 HIGHLIGHTS PRESENTATION Item 3 ASSUMPTIONS PRESENTATION 4 + 8 FORECAST Oct-Jan Actuals Considered Re-Forecast Feb-Sept

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SLIDE 1

FY 2017-18 Mid-Year Budget

DON ECKERT DIRECTOR OF ADMINISTRATION & FINANCE

Item 3 PRESENTATION

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SLIDE 2

HIGHLIGHTS

Item 3 PRESENTATION

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SLIDE 3

4 + 8 FORECAST

  • Oct-Jan Actuals Considered
  • Re-Forecast Feb-Sept
  • PEA updated Revenues & Power Supply
  • Staff re-evaluated needs

ASSUMPTIONS

Item 3 PRESENTATION

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SLIDE 4

SUMMARY

Item 3 PRESENTATION

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SLIDE 5

FY2017-18 FY 2017-18 Line DESCRIPTION ADOPTED BUDGET MID-YEAR BUDGET $ % REVENUES 1 Energy Sales 239,015 253,508 14,493 6.1% 2 Green Prime Premium 443 610 167 37.7% 3 Other Income

  • 51

51 4 Investment Income 200 100 (100)

  • 50.0%

5 TOTAL REVENUES $239,658 $254,269 $14,611 6.1% EXPENSES 6 Power Supply 181,368 182,561 (1,193)

  • 0.7%

7 Data Management 3,115 3,277 (162)

  • 5.2%

8 PG&E Fees 1,218 887 331 27.2% 9 Employment Expenses 4,187 3,555 632 15.1% 10 Professional Services 1,325 1,325 0.0% 11 Marketing & Promotions 295 550 (255)

  • 86%

12 Notifications 100 125 (25)

  • 25%

13 Lease 315 335 (20)

  • 6%

14 General & Administrative 251 598 (347)

  • 138%

15 TOTAL EXPENSES $192,174 $193,213 ($1,038)

  • 0.5%

16 TOTAL EXPENSES W/O POWER SUPPLY $10,806 $10,652 $155 1.4% ENERGY PROGRAMS 17 Various Programs 4,780 5,070 (290)

  • 6.1%

18 TOTAL ENERGY PROGRAMS $4,780 $5,070 ($290)

  • 6%

CAPITAL INVESTMENT 19 Facility Equipment 50 50

  • 0.0%

20 TOTAL CAPITAL INVESTMENT $50 $50 $0 0% DEBT SERVICE 21 Interest 33 16 17 52% 22 Principal 2,730 5,630 (2,900)

  • 106%

23 TOTAL DEBT SERVICE $2,763 $5,646 $2,883

  • 104%

24 BALANCE AVAILABLE FOR RESERVES $39,890 $50,290 $10,400 26.1% VARIANCE

SILICON VALLEY CLEAN ENERGY FY 2017-18 MID-YEAR BUDGET ADJUSTMENTS ($ in thousands)

Item 3 PRESENTATION

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SLIDE 6

REVENUES

  • 50,000

100,000 150,000 200,000 250,000 300,000 350,000 400,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

MWh's

Energy Sales

Mid-Year Adopted

Residential, 28.5% C&I, 71.3% Street Light, 0.1%

$253.5 MILLION

Item 3 PRESENTATION

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SLIDE 7

CASH OUTFLOW

Power Supply 91% Billing 2% Other 3% Programs 3% Debt Service 1%

ADOPTED

Power Supply 90% Billing 2% Other 3% Programs 2% Debt Service 3%

MID-YEAR $199.8 Million $204.0 Million

Item 3 PRESENTATION

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SLIDE 8

RESERVES

  • 50,000

100,000 150,000 200,000 250,000 FY18 FY19 FY20 FY21 FY22 FY23

$ in Thousands Reserves Max Target Min

Projected Reserves Exceed Max

Item 3 PRESENTATION

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SLIDE 9

NEXT STEPS

  • Staff recommends adoption of FY 2017-18

Mid-Year Budget

  • Reviewed by Finance and Administration

Committee

  • Staff will present long-term staffing plan at

the April Board meeting

Item 3 PRESENTATION

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SLIDE 10

QUESTIONS?

Item 3 PRESENTATION