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Home My WebLink AboutMinutes - September 24, 2002 SSCITY OF LODI INFORMAL INFORMATIONAL MEETING "SHIRTSLEEVE" SESSION CARNEGIE FORUM, 305 WEST PINE STREET TUESDAY, SEPTEMBER 24, 2002 An Informal Informational Meeting ("Shirtsleeve" Session) of the Lodi City Council was held Tuesday, September 24, 2002 commencing at 7:10 a.m. A. ROLL CALL Present: Council Members — Hitchcock, Howard, and Nakanishi Absent: Council Members — Land and Mayor Pennino Also Present: City Manager Flynn, City Attorney Hays, and City Clerk Blackston B. CITY COUNCIL CALENDAR UPDATE City Clerk Blackston reviewed the weekly calendar (filed). C. TOPIC(S) C-1 "Electric Utility Revenues" City Manager Flynn reported that in August 2002 a bill was received from the Northern California Power Agency (NCPA) in the amount of $5 million. After looking at cash in Electric Utility, it was determined that the City did not have sufficient funds in its checking account in order to make the payment to NCPA. NOTE: Documents identified for the record as Exhibits A through G are filed in the City Clerk's Office. Referencing a spreadsheet document distributed to Council (Exhibit A) Mr. Flynn reported the following: ➢ In October 2000 there was approximately $15 million in Electric Utility cash. ➢ At the end of August 2002 the cash amount dropped to $3.4 million. ➢ The gray area on the spreadsheet indicates the period of time when the NCPA bill was held due to insufficient funds; the bill was paid in September. Mr. Flynn expressed concern that 24 months ago, before the volatility in the electric power market occurred, the Utility had $17 million in its reserve account. He recalled that in January the City borrowed an additional $8.5 million for cash flow. Both the $17 million and $8.5 million are now gone. He believed that according to projections and certain actions taken by the Council, the Utility could end this fiscal year in a strong position. He asked the Finance Director to review staffs analyses to "lay the groundwork" for what may be a recommendation to Council on October 16 for an electric rate increase. Referencing Exhibit B, Finance Director McAthie explained that the report compares the 2001-02 budget to actual amounts and shows strictly the cash position; accruals were stripped out. Ms. McAthie reported the following: ➢ Total revenue the Utility projected in cash was $49.4 million; actual amount received was $49.9 million. ➢ Expenditures in Operating were budgeted at $11.9 million; actual amount spent was $10.7 million. ➢ Bulk power purchase was budgeted at $30.5 million; actual amount spent was $46,188,000. Other purchases were budgeted at $520,000; actual amount spent was $72,000 for a vehicle. 1 Continued September 24, 2002 ➢ Capital projects were budgeted at $8.7 million; actual amount spent was $5.6 million. Ms. McAthie noted that this is reimbursable, i.e., where the City gets a draw down from the bond issue that was sold. ➢ Debt service projected on the old bond was $1.3 million. Ms. McAthie recalled that the City refunded those and did other bond issues. The debt service was $2.2 million and a significant portion of that was reimbursable from the trustee. ➢ Revenues versus Expenditures - the Utility had expected a difference of $3.7 million; the actual difference was $15 million, due to the bulk power purchase. ➢ Other Sources - $800,000 was for the land that was sold. ➢ Operating Transfers Out was for cost allocation plan and medical. ➢ The cost of medical was $562,000. ➢ Proceeds from the debt financing were received; the cash flow taxable issue that was borrowed was $8.2 million. ➢ As of June 30, 2002 the entire Electric Utility cash amount was $2.4 million. Referencing Exhibit C, Ms. McAthie explained that the report analyzes Electric Utility sub funds of operating, capital, rate stabilization, cash flow, bond coverage, and public benefits. It represents the cash flow for one year. In August the cash totaled $6.7 million. Due to the purchase of power, the cash balance on September 17 was $3.1 million. What was not paid at this point was the NCPA bill of $3.1 million, nor was the transfer made to the general fund, to the medical funds for the cost allocation, or the in -lieu. Previously, the entire transfer was made on July 1; however, they are now made at the end of each quarter to assist the Utility with its cash flow. At the end of September approximately $1.8 million will be transferred. Referencing Exhibit D, Ms. McAthie explained that the spreadsheet shows what actually happened through the end of August, while Exhibit E covers a ten-month period through June 2003 using projections from Electric Utility. Operating and other revenue is projected at $138 million. Operating expenses, bulk power, debt service, and other expenditures are projected at $153 million. Expenditures exceed revenue by $15.4 million. As of June 2003 a $2.1 million fund balance, as cash, is projected. Due to the $8.2 million borrowed for cash flow, a $3.9 million debt service balloon payment is due June 2003. Ms. McAthie explained that would leave $4.3 million that the Utility would have borrowed for cash flow, yet there is only $2.1 million, indicating that the cash flow money borrowed is being used for operating expenditures. Referring back to Exhibit A, Ms. McAthie explained that it shows the actuals through August 2002. The operating revenue was $98.2 million and operating expenditures were $108.7 million, which exceed revenue by $10.5 million. The transfer is not included in this report, nor is the balloon payment due in June 2003. Ms. McAthie pointed out that even with the rate adjustments that went into effect in January, operating revenue is $40.7 million compared to the total operating expenditures of $41.2 million. The bulk power totals $33.4 million, compared to $31 million in revenue. City Manager Flynn voiced his concern that revenues are not sufficient to cover the bulk power cost. Ms. McAthie interjected that other costs that should also be considered are the transfers and keeping the cash flow of $8.2 million. She emphasized that as of the end of August the Utility was projected to have only a $3.4 million cash balance. Referencing Exhibit F, Ms. McAthie explained that the report adds in Electric Utility's projections through December 2002. She noted that they are flat lined and "a little optimistic." The report shows an operating revenue of $59.3 million and operating expenditures of $57 million. She pointed out that it needs to be put in context with the fact that it represents only two quarters worth of the transfer and the balloon payment of $3.9 million is due at the end of June. 2 Continued September 24, 2002 Referencing Exhibit G, Ms. McAthie reported that the spreadsheet describes Electric Utility cash from July 2002 through June 2003. Operating revenue is $49.3 million, with operating expenditures of $50.3 million. Other expenditures show the $1.8 million in four quarterly payments, which is the transfer to the general fund for cost allocation and medical insurance. The balloon payment on the taxable issue is $3.9 million. The cash balance shown is $2.1 million. In order to cover the balance of the taxable issue, the cash balance should be $4.3 million. Electric Utility Director Vallow stated that the Utility has gone into the second year of "cutting everything we can possibly cut." He stated that out of a $50 million budget, only $5 million is discretionary. Approximately 20% was cut for the third year. This year the public benefits program expenditures were greatly reduced. The Utility is actively pursuing new generation projects as a way to lower the Independent System Operator (ISO) cost. CalPeak Power and Calpine have expressed an interest in locating a peaking power plant within the city limits of Lodi. Mr. Vallow reported that the ISO cost represents an increase to the Utility of approximately $1.6 million. He estimated that an electric rate increase of 5% to 7% will be needed. In answer to inquiries by Council Member Nakanishi, Mr. Vallow explained that the Market Cost Adjustment (MCA) was for the purpose of handling risk exposure. The increased ISO cost is a base cost, which is taken care of through rates. He stated that on average, Lodi Electric Utility's business customers currently have a 30% advantage over Pacific Gas and Electric's rates. In reply to Council Member Howard, Mr. Vallow confirmed that on October 16 Council will be receiving spreadsheet reports for a 15 -year projection, which will include the recommended rate increases. He noted that it will show the MCA shrinking due to normal load growth. In addition, a spreadsheet report for a five-year period will be provided to Council projecting increases in operating expenditures. In response to Council Member Nakanishi, Mr. Vallow reported that the MCA is "exactly where it needs to be" and the Utility's models will not show it being decreased either this fiscal year or the next. Mayor Pro Tempore Hitchcock asked how much the MCA annually adds to the revenues, to which Mr. Vallow answered $8.4 million this fiscal year. Ms. Hitchcock did not believe the general fund should capitalize on what has happened to the rate structure. She suggested that the transfer to the general fund be reduced instead of raising rates, or to lessen the amount needed for a rate increase. She asked for a history of the general fund transfers over the past ten years. City Manager Flynn and Council Member Nakanishi expressed support for reducing the general fund transfer. Ms. McAthie pointed out that the $1.8 million quarterly transfer now also includes the cost allocation plan, medical, liability insurance, and workers compensation, which previously had been done by a direct charge to the Utility. In addition, she clarified that the only transfer related to the MCA was for $32,000. The budget projection transfer of $900,000 was never made. In reply to Mayor Pro Tempore Hitchcock, Mr. Vallow explained that AB 1890 requires that 2.85% of operating revenues must be spent in four public benefit categories. Five years worth of those revenues must be spent over a seven-year period of time. The Utility collects 2.5% through rates and the remaining percentage comes from activities associated with the bulk power bill. He reported that the Utility is now $500,000 to $750,000 ahead. In reference to the money borrowed to construct a new Electric Utility building, Mr. Vallow stated it has been set aside, and the City has three and a half to five years to begin expending the funds on construction. He stated that the Utility is exploring different ways to build these types of facilities, such as public/private partnerships. 3 Continued September 24, 2002 Referencing Exhibit E, Mr. Flynn pointed out that monthly bulk power cost ranges from a high this month of $3.1 million, then drops to $2.4 million, and remains at $2.5 million through June 2003. He reported that in the last eight months the power cost has averaged $4.1 million per month. With the ISO increase of $1.1 million, the monthly power cost would be $5.2 million. He cautioned that over the next nine months, power costs need to be monitored closely. Mr. Vallow stated that he asked Sandra McDonald last week to begin developing a fuel management plan specifically for the City of Lodi. D. COMMENTS BY THE PUBLIC ON NON -AGENDA ITEMS None. E. ADJOURNMENT No action was taken by the City Council. The meeting was adjourned at 8:21 a.m. ATTEST: Susan J. Blackston City Clerk 4 Mayor's & Council Member's Weekly Calendar WEEK OF SEPTEMBER 24, 2002 Tuesday, September 24, 2002 7:00 a.m. Special City Council Meeting 1. Adopt resolution accepting Harney Lane and Stockton Street Frontage Improvements in Parisis Ranch, Tract No. 3111 (PW) Shirtsleeve Session I. Electric Utility Revenues (EUD) 4:00 - 6:00 p.m. LUSD New Teacher Reception, Lodi Wine and Visitors Center, 2545 West Turner Road. Wednesday, September 25, 2002 Reminder Hitchcock & Land. 2002 NCPA Annual Meeting In Monterey, September 25-27 5:30 p.m. 'My Little Sisters Solon' and '2- Illuminate' Joint Ribbon Cutting and Grand Opening - 11 North School Street and 13 North School Street 7:00 p.m. Reception and dinner honoring The Court of Appeal Third Appellate District, Radisson Hotel, Stockton. Thursday, September 26, 2002 Reminder Hitchcock & Land. 2002 NCPA Annual Meeting In Monterey, September 25-27 Canceled San Joaquin Partnership Board Meeting. 5:00 p.m. Pennino. Son Joaquin COG Meeting, 6 South El Dorado Street, Pacific State Bank Building, COG Conference Room, Stockton. 1:00 - 4:00 p.m. Open House, Health for All Adult Health Care Center, 125 S. Washington 6:00 p.m. Evening of Good Will honoring Robert Kavanaugh, Stockton Civic Auditorium. 5:00 - 7:00 p.m. Gathering to announce Bozant and Lorraine Katzakian Foundation. Friday, September 27, 2002 12:00 p.m. noon Land. Governmental Relations Committee Meeting, Lodi District Chamber of Commerce - Conference Room 5:00 - 7:00 p.m. Pennino. "Lodi Wine Live", Lodi Wine and Visitor Center. Saturday, September 28, 2002 6:00 p.m. Pennino, Hitchcock, and Howard. Lodi Public Library Foundation's 2nd Annual Dinner, 201 West Locust Street, Lodi. Sunday, September 29, 2002 Monday, September 30, 2002 6:30 - 10:00 p.m. Pennino and Nakanishi. Salvation Army Annual Dinner at Wine & Roses Disclaimer: This calendar contains only information that was provided to the City Clerk's office counciI\rniscVma1ndr.doc ".27,496.92 BUM Paver (4.SM,13.4) OP. -M 6634946 (13.697.664.") Dap -4 " (2.41.677.75) 00w EV -M 494 (11,114,1".61) SupaRM (10674.794.571 (10,46287.651 U EW*C t150 CUh Fm OcW W 7, 20M Onug 1 Pique 2087 DM4 Oo6M9q P4 Cm" e1mu9 dp9 R41R010 RPM919 TOW BUM PO Oprty Ey C9piN Ey,-- MUG- qlr 1 EV T.W R01 G69A AdW C4d1891- Beynitq C4N BYMce 13,2Y3.l08.06 20001705,13619]9.34 183,660.19 BAMS" ZIOSAT3.83 Sol" 19.37127 246AAA9 2431.649.94 75.6&322.90 2000n7 28.1,]06.97 1,762575.20 80.515.71 3A76A3SA6 2,SW,278A2 522.4645 315.206.78 - 3,341.025.08 6.2,309.2 16.19.681.72 200012 26%.803.73 =.650.09 3.129A64.42 5, 14,W.21 646AMA2 143.159.55 - .073,14AS (2943.901.03) 13IM951AB 200111 3./55,241.0 739,420.26 320.392.04 4,215.053.32 4,40..0.13 64.457.6 344.641.11 M T17.M 6.064,627.02 (1AMA73.70) 17,397,177.99 20012 2,54.729.00 1,441.S64R 3.91,163.22 2643.14.2 52.59.. 160,547.35 3,232.9 7MAKSO 1215&279 1215&94279430-O 20M 2.4".490.0 136,182.07 3.44.72 07 5,6979.56 .2 57.794.86245.62D.42 - 6.12.825.7 (5..,011.74) 6,7..31.05 2007. 224,942.00 125.624.97 2.419.66 4 1,956AM77 913,35.11 89 225,9.08 - 7803.94 2.. 1376.41.7) #.=A99.08 200115 2.0.333.00 913.205.70 20.177.29 3,623,718.01 5,674,40SA7 4."64 25.219.72 6,622294.02 (220.677.96 6,7",971.14 2"116 2347,813.0 - 3,347,613.0 572.567.00 947,85.63 270.206.35 1,74.464." 1,597,178.2 6.797.".16 WOW 4.43276300 531,05.64 4,963600.64 2525.107.00 327.933.03 4,1..74 595.717.50 9.540,751.30 13.167,821.63 (8-194,646991 17.106.929.63', MOM 4,509,130.00 8",333.24 10.519.00 5,205,962.24 7."6,1..16 740.852.04 260,57631 26MA1543 2616.356.81 / 1 29 09A-96 2M1N 37.,618.00 2855.62.72 6,640,47672 3,549,087.73 512,749.50 32D,119A7 76,849.6 4,46k406.89 214."1A3 3,2MMM 20OV10 6.27.536.00 62.529.49 6.9".66.49 4-S M.31 53.40.65 369,502.06 73070.64 5.616.572.56 1.33249295 4,642.11.74 2M7711 4.737.344.00 4.737.34600 48.3278 471.40227 41.3"." 367."3.0 1,927.74.92 2,S0.47.M 7.452502" 2.1112 7,09.615.00 3090.510.3 6,814,21.78 304,410.20 266,023.10 (4,270.231 7,315,790.4 (4,294.624) 3,75.13.00 200449 3,6262033 517,41.4 0R.126AS 12087,18243 8,637,4224 7024S.71 144,S0579 34.946.32 9,647,79247 3,019A4.4 .777,52.03 20022 3.3627533 4.3564 3433.109.66 3.04.79.33 548.429.71 214,407.39 0.3 3.621.776. (34.04.40) 5.7MA6333 2471! 3.62223.0 6.147.4 3.528.349.4 3.745.26.4 664.3]620 291.373.4] 4.7..540.31 It,tn,19641 4,61227290 2.1/4 3613.111.0 932025." 4,645,137.99 116,= 652,999.. 212,531.74 24,044.S5 1,271,74].90 3173.394.4 7,4.9..4 2.2M 3.261,071.00 03.561.42 4,W.M.42 6,803.0WAS 536.54.11 243.400.03 0.00 7.424632 13499,3b.M) 4.36.541-3 200716 3,657,926.. 564,048.41 4R1,974A1 3.13721.3 40.429.72 207,627.61 1.21,194.44 6,1".979.77 (1.907.0..4) 242.45-7 2DO217 4.689,6".3 4,49.3 3,811.340.71 504ASS.32 139,13.44 641,73.81 4.077.190.4 (307,531.06) 211.104.4 20344 5.132079.64 721.518.21 5.4,4611 3358 612059.24 70785.17 116,422.65 1,235,577A5 4,017,010.68 6,736.753.25 1 3.26.770.3 (326.770.31 3.46OA1625 Grant T9Ml 85541.743." 9,5259 236 12.45.763.. tO7,7M 00&28 60.".14.32 13.697.44.4 5.44.343.4 2"1577.76 11.114.160.61 114.237.13600 (6.44.50.011 ".27,496.92 BUM Paver (4.SM,13.4) OP. -M 6634946 (13.697.664.") Dap -4 " (2.41.677.75) 00w EV -M 494 (11,114,1".61) SupaRM (10674.794.571 (10,46287.651 2001-03 FINANCIAL PLAN AND SUMMARY CHANGES IN FUND BALANCE - ELECTRIC FUND 2001-02 2001-02 Budget Actual Revenues Tax Revenues Licenses and Permits Fines and Forfeitures Investment/Property Revenues 3,278,440 Revenue from Others Service Charges 46,134,260 Other Revenue 2,000 Total Revenue 49,414,700 Expenditures Operating Programs Public Safety Public Utilities Transportation Leisure, Cultural and Social Services Community and Economic Development General Government Total Operating Programs Bulk Power Purchase Other Purchases Capital Projects Debt Service Total Expenditures Revenues/Expenditures (Over/Under) Other Sources (Uses) Operating Transfers In Operating Transfers Out Other Sources (Uses) Cost of Medical Care/Dental, Vision Proceeds from Debt financing Total Other Sources (Uses) Fund Balance Beginning of the Year Fund Balance End of the Year Reserved for Debt Service Designated Reserve Unreserved Total Fund Balance 11,915,545 11,915,545 30,551,000 520,000 8,781,025 1,391,435 53,159,005 1,919,889 47,949,342 100,173 49,969,404 10,751,962 10,751,962 46,188,406 72,795 5,606,965 2,285,859 64,905,987 Difference (1,358, 551) 1,815,082 98,173 554,704 (1,163,583) (1,163,583) 15,637,406 (447,205) (3,174,060) 894,424 11,746,982 (3,744,305) (14,936,583) (11,192,278) 0 (2,318,035) (286,395) 8,360,250 5,755,820 6,787,089 8,798,605 800,000 (3,835,546) 5,922,842 (562,167) 8,250,000 10,575,129 6,787,089 2,425,635 8,798,605 " 2,425,635 " 800,000 (1,517,511) 3,922,842 (275,772) (110,250) 4,819,309 (6,372,969) total Electric Fund cash balances by month 9,000,000 8,000,000 As 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 1 2 3 4 5 6 7 8 9 10 11 1213 sub funds by month One Year of Cash Flows by Month - Electric Utility 20,000,000 15,000,000 Operating Capital Rate Stab Cash Flow Fund Bond Coverage Pub Ben Total Fund Change In cash -- Series4 (10,000,000) -- Series5 (15,000,000) (20,000,000) (25,000,000) -+- Series6 - Month to Month 2001 Aug (17,467,938) (3,954,335) 2,742,252 20,253,261 (463,813) 1,109,427 Sept (18,294,257) (1,412,265) 2,796,859 20,656,568 (456,486) 3,290,419 2,180,992 Oct (i 5e,404) (1,068,734) 2,808,701 3,584,480 (525,131) 4,642,912 1,352,493 Nov 3,091,400 (1,524,764) 2,823,566 3,584,480 (522,181) 7,452,503 2,809,591 Dec (952,317) (1,800,584) 2,823,673 3,584,480 (497,112) 3,158,140 (4,294,363) Jan 2002 (6,213,137) (1,513,036) 2,832,636 8,250,000 3,584,480 (763,413) 6,177,530 3,019,390 Feb (6,376,675) (1,772,660) 2,896,413 6,250,000 3,584,480 (792,094) 5,789,464 (388,066) March (7,285,768) (2,067,891) 2,926,026 8,250,000 3,584,480 (794,574) 4,612,273 (1,177,191) April (62,443) 473,019 8,250,000 (774,909) 7,885,667 3,273,394 May (4,080,007) (260,418) - 5,952,310 3,584,480 (809,723) 4,386,641 (3,499,026) June (4,821,151) (1,655,100) 6,052,654 3,584,480 (735,247) 2,425,635 (1,961,006) July (4,465,878) (2,325,895) 6,052,654 3,584,480 (727,256) 2,118,104 (307,532) Aug (347,242) (1,804,506) 6,052,654 3,584,480 (750,234) 6,735,152 4,617,048 Sept (3,777,922) (1,891,546) 6,052,654 3,584,480 (820,812) 3,146,854 (3,588,298) total Electric Fund cash balances by month 9,000,000 8,000,000 As 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 1 2 3 4 5 6 7 8 9 10 11 1213 sub funds by month 25,000, 000 20,000,000 15,000,000 10,000,000 - -+-Seriesl 5,000,000 -�-Ser1es2 Series3 (5,000,000) -- Series4 (10,000,000) -- Series5 (15,000,000) (20,000,000) (25,000,000) -+- Series6 total Electric Fund cash balances by month 9,000,000 8,000,000 As 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 1 2 3 4 5 6 7 8 9 10 11 1213 Electric U0)ly Cash From Jatwaty 2002 twough August 31, 2002 5xht 61-(- 1> Dale OparaOg Revenue Capid Re� DOW Revenue Revenue TOM Buk power Opma8n0 Em Capbl E)ONW waa DOM Sallee OtIer Expendidpesl EVTold Not Cash Ach*Cash BW00 manos,1 ,1 � 200211 3,820,205.00 817,851.38 8,229,128.06 12.867,162.43 0.631,422.85 702,555,71 144,885.79. 388,948.32 - 9,847.792,47 3,019,389.98 6,177,529.93 200212 3.362,753.00 - 50.356.86 3.433,109.66 3,063,339.5! 543,429.34 214,407.39 0.00 3,821.176.06 (388.086.40) 6,789.463M 20 020 3,522,202.00 6,147.68 3,528,349.68 3,745,828.68 668,338.20 291,373.43 4,705,540.31 (1,177,190.63) 4,612,272.90 200N4 3,613 ' 111.00 932,026.99 4,545,137,99 118,232]3 552,939.44 212,531.74 288,040.55 1,271,743.96 3,273.394.03 7,886,866.93 200M 07 3,281,1.00 802,861,42 4,083,932.42 4809,MAS 538,550.11 243,400.03 0.00 7,584958.32 13,408,025.90) 4,386,541,03 200718 3,687,920.00 554,048.41 4,221,974.41 3,923,72&00 83.429.72 207,827,61 1121,194.44 6,182,970.77 (1,951.006.36) 2,125.635.67 town 4,669,859.00 - 4,089,659.40 3,811,348.71 584,958.32 139.102.41 641,78041 4,977,190.08 (307,531.00) 2,114104.59 20OVS 5,132,079.84 721,548.27 5,853,628.11 612,059.24 195,765.17 115,422,55 1,236.577.45 4,617.040.66 8,735,153.25 3,265.770.00 (3,265.770.00) 3.488,303.25 Grand ToW 31.089,W6.84 2,471,424.64 9.642.541M 4 ,202,971.70 .476,00527 5,131 .OB 1.644073.60 1,590,14 .76 1,045,24 .71 42,641,728.42 911,243.28 Open8t19 Revenue Expendtures: Bu& Rover Op—*V EVema DOM tanks Oltw ExpendlkaaO Subtotal 40,731,547116 (33.478.008.27) (5,131.260.00) (1.590.142.76) (1,045,613.71) (41,24. 1121 Difference SKW (1107 Cd1 Flow cd w 1, 20001Ya119O J.- 2m DSM 0p619Mp R4N191M CWMI R9awm9 O6w R69116R RevwMl6 Tad Bulk P- o-w.8m C."E..w r D661S-A. OR.E1mw19b641l 932 TOW NO CMA Adit CDa08644876. 6419613 D4 15,223,7%.. 20MO 5.136,930.34 163AM19 5,.870.599.53 2106973.63 563,634.59 199.37137 - 2AUA79Ai 2431.04904 16A%,ffi.60 2870/11 2,683,301.67 1.16'{616.20 41.1976 3A76335.b 2,5%,27612 522640.41 315.205.70 3,311,026.00 6351!09.62 10.11013272 2000712 2,695,60.73 233AWN 3.121.45412 6.314,0736 615639.93 143,159.55 6,073.136.15 (2.943MA3) f3.2WJMA9 20DIA 3,159,24510 731442 320.39204 4.215,%3.3: 4,406,440.13 61517.90 3",911.11 695.717.60 6,094,57.07 3,64DA7s74 ll. WA"A0 20M 2549744'* IMIXIA.22 393136322 213,1%.02 544360.05 100,34335 3,232.&%.47 7.39344 1236.693.70 200161 2641,930.'* 136.1937 3414.127 6.5%.21935 676.784.04 245.6842 6.4201..61 (3.366,011.7 6.789, M 2WIM 2.23.942" 1255247 2.419166.97 3.956,566.77 613]63.11 225.669% - 27%.&4114 (3793687) 930140A6 98725 2890,37300 913,206.79 8177,29 3,623,71611 5,871,405.67 686.66.63 26631972 6.627.294.02 (3303STFA4) 5169041.44 200 3747,61300 3,347,613.. S72A67AD %7.669.63 21030935 1.M434A5 1.44/.17993 WMAKI6 2871() 4,632753" 531,%6.44 4,413.6.M 2.629207.00 327,933.% 44,I44.74 695.717.50 0.540.761.36 13,157AWA3 (6.1"GAS) (1.40994413) 287111 4.%9130.00 668.3]334 10.519AO 5.206.44221 1.660,10916 719652.04 260,97535 2.669.625.17 2176.90611 1.109.129% 200119 3744.049'* 2655.82.72 SMO.476.72 3.445.967.73 $12.749.50 179.1t0A7 76,849.05 4.469.496.89 2.IWAIA3 3,29941961 2"17102244 9276.06.00 93252.416.9690%19 4669,23031 603589.% 369,582.6 73.68711 COMM" 1352.410.13 4.642911.74 201711 4.737.34900 4,»7,34900 636.%2.10 471.4122? 416-WAO 361.6%36 1.027.T393 2900446. 7.4526.87 200111: 3.044.04sA0 2000181990 6,8%4316. 78 30.20 091 ""12." (4,7033) 7,365.18766 09.294302411 5.156.444.7 200X1 3.02,85.00 617.%1.36 8329128.. 12.667.16243 0.631.422.66 6.11 144.66979 360.946.32 1.647.79247 3.019369.% 0.177=29.93 NOW 3.382.763AD 50.36646 143l00.0s 03 341,]%.3 693.44434 214.407.30 0.00 7.621.17906 36616940) 6.789.493.93 20M 3.52230900 0."7.65 7.529319.66 374962.2 06933.2 291.37343 47%."0.31 11.177.190.93) 4Al2=0 200214 3.613,111.. %2025.99 4,541,41.44 41938217 662%941 212631.74 20.04015 1371,71344 2273.94417 7JI M 63 20mm 3.21.071.00 002.861.42 1.91,93242 6.4430915 SWASO.11 24&400.03 900 7AMM.32 16A69A446D) 4344A41A3 2002M 3,657,2.00 551.04941 4,221,974.41 3.944T3.W 63AM72 2TA27AI 1,21.187.4 6,152979.77 (IA61ANA6) 212935.07 20M 4,687,659.00 4.049 658 W 3.611,34971 584%4.22 /30.102.44 641.760.61 4,977,190.00 (2 ?.931AM 2.118.1 04.60 20 "3 S.132079.44 721,54639 6,65362.11 812.%934 1%.765.17 116.42266 1.236.577.45 4A17.OUM 6,735,19336 3241.T70A0 33%770AM 241919335 20379 4.0.100.00 4.9% 00.OD 5.100.00010 /79000.00 2990%00 1.000AW.87 3..909010 375000.00) 2?93,41335 200440 SJMSMDQ 624,667.61 6.153447,04 24."10 0 475000.. 2OW.00 99 314500010 2,96937.61 2?61,644A6 2001/11 4,%2.687." 4.352000.'* 2400.0W.00 476.OW.W 20.=.W 9465.0087 t./7.60.00 6.969.4%A6 2002M2 3.717.387.00 3.717A00.W 2400.WO.W 479000.87 295870.. 1,587.0".'* 4,966ADD.'* (1347.70900) 9721.750.66 204111 3.52.30.87 670.000A0 4.3043'*.'* 2S00.O".00 4790W.00 2/980010 3,26.000.87 1,12300.87 6.441.%0.44 20M 3546.000M 3,S469W'* 2SM000.'* 475.000.0 20AMN 335.000.00 22WO.W 7.13116955 20M 2438AMOU 3.43.800.00 250.06.00 476.08787 2.013. 1.8MON40 6.066.000." (1.63,20.00) 56.159% WON. 3,17.7".W 70.000.00 4.07 A0 .7WSW.IA 2 0. 87 475475,0m.**0W. 290.00900 3.263,OW.W 7727'*AD O.7OAWW 287.% 3.6WAWA0 34ODAWAO 2870.00900 4756W.00 206.'*944 3,26S.WAO 419879.'* 6AIMMOS 200319 3.63300." 870.90.00 4.5052WA0 2.5WAMOO 47SA'*.00 290A09W 3900,=.W 1.687187." e.9".OWAO (4469609.) 2151.35016 2154,35988 fi49n6 TwY 125.047,063.63 12,7 .%995-126%.T- SW 463166.69 .S3Y1 10SS,. 3.447.✓�66 6.359.343.52 - 6.601,577.6 16.714 .16961 181.562.90987 111 06 ,0352 opww9w R6aw9w 137.727.5%12 EW--w- W-- -Bulk P9 Bulk (109666.13332) opw"m E>ma09e (18,447.5693) D1q-ft (8,936677.76) O6M3 Em.1dh641 fia.3ws,i S14MaMf 1 1 oN9rMty (16,171.447.931 EtaClde 1891y Cash From January 2002 through December 2002 �Fkk1 b 1 �- Data OperaWq Revenue Cap6al Revenue Other Revenue Revenue TOW Bulk Power _ Opentlng_Emp Capdal _Expenditures DebtS.— Ot wr EWrutl mMl I Exp Total RN Cash Acd* Cash BBWia nnug CCI (4.645,243.71) Suhiotal [5 ,15.4139.97 2002/1 3.820,205.00 617,851.36 6,229,126.05 12,867,182.43 8,631,422.65 702,555.71 144,865.79 366.948.32 9.647.792.47 3.419.390.96 6,177,529.93 201)W 3.382.753.00 - 50.356.66 3.433.109.86 3.063.339.33 543.429.34 214.407.39 0.00 3.621.176.08 08BA80.411) 5,789,463.53 20M 3,522.202.00 6,147.66 3,528,349.66 3,745,825.66 666,336.20 291,373.43 4,705.640.311 (1,177.190.83) 4,612,272.90 2002/4 3,613,111.00 932,026.99 4.545,137.09 118232.23 652939A4 212,631.74 288,040.55 1,271,743.96 &V3A 600 7,865,66633 200215 3,281,071.00 602,061.42 4,083,932.42 6,803,006.16 53.4550. 11 243,400.03 0.00 7,562,956.32 (36499A252% 4AM611.6 200216 3.687.926.00 - 554,046.41 4,221.974.41 3.023,72&00 530.429.72 207,627.61 1.221,181.44 6.182.979.77 (%MA9336) 2.423.635.67 200217 4,669,659.00 -4,4569.659.00 3,811,346.71 564,958.32 139,102.44 641,780.61 4,977,190.06 (307,63136) 2,113.104.59 200216 5.132.079.64 721,546.27 5,853,62&11 612.059.24 195.785.17 115.42255 1,23,577.45 4.677,04656 6,736,18325 M 3.255,770.00 (3,285,T70.0D) 3.469,353.25 200209 4.989.100.00 4.9B9.IWM 3,103.00030 475.000.00 290,000.00 1,800.000.00 5.665.000.00 (675.900.00) 2.793.483.25 2007110 5,526,500.00 624,867.61 6,153,.167.61 2,4Ok9M 0 475,00D.00 290,000.00 3,165,000.00 2,986.367.61 5,761,850.86 2007711 4,362,60000 4.352.600.00 2AMMO0 475.WDA0 29D,000.00 9.165.000.00 1.157,80000 6.969.450.86 2009712 9,717.300.00 _ 3.717,300.00 2.400 000.00 475.000.00 290000.00 1.800.000.OD 4966000.00 1( .4721,750.86 Grand TOW 49,67,106.64 3,096.282.5 .642.640.22 82,415. .31 45,778. .27 7,031.260 2.80,0 3.60.142. 4,W ,243. 1 .4s2 2 10 OperaSng Revenue 59,319,047.06 ExpmdBuras: Suk Paver (43.776.00827) Operating Expease (7,031.250361 Debt service (1.590.14270) Other Expand t res (4.645,243.71) Suhiotal [5 D9tarvw 2.276 X018617 C/ h F—J*2002 ftW O.Mr. 20M OaN— Rsw CWW Ray Mw Renals _ Rev T9M1 BWk O9vw1 Op4r48np Etp C4pi141 Eapandklnt OeM Senka_ _06rr_FameMihl � Elm To1M __ t441 C4411ACO.% Ce411 BNMKt _ 2MW 4,60.BWOD - 4A69A6kOO 3.6/11.40.71 564ASA32 139.102A4 641,760.61 4,977,190.66 (707.531.68) 2.625.66141 2,118,tO139 200118 6.152.679.04 721,51627 6,663.630.71 812.66924 165,766.17 115.422.55 1236A71A5 4.617,0166.6 8,735.14325 3265,770.60 p,264.i70m) 3,469.36926 2002M 4A69,100.OD 4.69.100.00 0.1OMM.00 475A00.00 290.000.00 1,600.000.00 6.665AOOm (67k600.00) 2783,46126 2002110 5,526.600.00 624.667.61 &163,967.61 2A00.00DAO 475.000.00 290,000.00 9.166,000.00 2,96.6,967.61 0.761,85066 2000/11 4,352,60D.OD 4,392,800.00 2.400.600.00 475.000.00 290,000.W3.165 Mm 1,1umabo 6,969, 66 2002M2 2003M 3,717200.00 0.6241.00.00 0OD 67g0D. 3,717,900.00 4X4,SODm 2.408000.00 2,608000.00 475,000.00 4751MOD 290,000.00 290.000m 180,0.600.(10 4,1165,000.00 3266.000.00 0 247.700m) 1,128.300m 5,721,756.66 6.661,05066 RWW 3.64640m 3A4,OMW 2500,000.00 475.600.00 29Dm0.00 9,266,000.00 293AM 7.134.070.66 20M 3A96A00.00 3.436.800.00 2.500,000.00 4MOW.OD 290.000.00 1,800.000.00 S,066AO000 (1,626,200.00) 0.505.63015 2003M a,167.700m M.00D.00 4.037,7O0.00 2,500.00D.00 475.000.00 290.000.OD 3265A M 7/Z.TODm 6X/6.63016 200915 316WIMOD 3.600, 600.00 2,500.000.00 475.000.00 290.000.60 3.255,ODD.00 935.$00.00 6.614,14016 20"s 3.695,200.00 670.000.00 4.SOS.2MOD 2,500.000m 475,000.00 290.000.00 3,900A00.00 1.SDOA00.00 8A6S,00D.OD (4,4S8,SOOAO) 2.15195016 2.tSt.80'- CX9110low 4.901 .64 3.956.413.0 U390MIr 32,490.449.20 7,017.56 3.234APAI 3. 1 1 --------- op—" Reyna 49.301,939.94 EmentlBune: 1g4k Fa411r (32.490.44920) opraft Etpm (5,647,017.66) 51.M eeniDe (3AM.000.00) OOmr Elmo ANi (YA57,203.16) sue8d41 150.— 2B1.O89�2) FW` :i1