HomeMy WebLinkAboutAgenda Report - February 20, 2008 K-02AGENDA ITEM Y%'
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AGENDA TITLE: Presentation of Electric, Water and Wastewater Utility First and Second Quarter
(Fiscal Year 2007-08) Financial Reports
MEETING DATE: February20,2008
PREPARED BY: Electric Utility and Public Works Directors
RECOMMENDED ACTION: Receive a report prepared by the Electric Utility Department and
Public Works Department summarizing the financial Performance for
the first and second quarters of Fiscal Year 2007-08.
BACKGROUND INFORMATION: The Electric Utility (EUD) and Public Works Departments are
responsible for reporting the quarterly financial results to the City
Council. The attached PowerPoint report summarizes such results
for the First and Second quarters of Fiscal Year 2007-08.
ELECTRIC UTILITY:
A summary of the Electric Utility's financial performance for this reporting period is as follows:
EUD had strong first and second quartersfor FiscalYear 2007-08
• Power costs declined approximately $705, 000 from budget
• Non -power costs decreased $1.4 million
Revenues are down by approximately $865,000
Northern California PowerAuthority (NCPA) General Operating Reserve (GOR) is up by
approximately $295,000
Fiscal year 2007-08 power costs are 93% hedged
• Revenues include a one-time receipt of $3.25 million from Roseville CT1 Sale
Overall increase in cash is about $5.75 million through the second quarter(including Roseville
revenue)
A summary of the Wastewater and Water financial performancefor this reporting period is attached and
is summarized as follows:
WASTEWATER:
Cash balance is $2.3 million
Revenues at 48% of budget
Operating expenses on target at 50% of budget
WATER:
Cash balance is $1 million
Revenues are on target at 52 % of budget
Fund operating expenses on target at 41 % of budget
APPROVED:,:!�'A
ing, City Manager
Adopt Resolution Awarding the Contract to Replace and Upgrade the Existing Utility Supervisory Control and Data
Acquisition System to Survalent Technology, of Mississauga Ontario Canada ($199,600) (EUD)
February20,2008
Page 2 of
FISCAL IMPACT:
FUNDING:
Attachment
None at this time
Not applicable
P T -1/i -
rge F. orrow
Electric Utility Director
Richard Prima
Public Works Directo