[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":56,"_74":56},"mediaId",6114961,"mediaKeyId","2740648-1d1f60c2a86f1e8b45ffc1a212f57a12","parentId",2740648,"title","Treasurer reports stronger-than-budgeted results, liquidity above $500 million and reserve goal at 65%","audioSeconds",318,"startMs",545000,"endMs",863000,"viewUrl","/Search/View?dp=1&key=2740648-1d1f60c2a86f1e8b45ffc1a212f57a12&start=545&end=863","thumbnailUrl","https://assets.pipeline.soar.com/2740648-1d1f60c2a86f1e8b45ffc1a212f57a12/thumbnail_545000.jpg","articleUrl","/articles/6114961/California/Treasurer-reports-stronger-than-budgeted-results-liquidity-above-500-million-and-reserve-goal-at-65","mediaUrl","https://secure.pipeline.soar.com/6114961-a294cc61bc92e89850069bc15461cefe/orig.mp4?Expires=1776218053&Signature=bm3pCv9~mQkr9hyKFLO1OZACYAoryYXk89v9uBo3iW1BwDauMayoDpgDjv5VRebj4DEQKiaAUjpL-V89GDH9RXtSJn5ZcGpB61tzqvomMaBGhHBndeUHDxTfGuG1NBiQGldvJOOUno0MRIdWh8s1Q2U88QZUGt2sGD-BJ6OXg6TvrtfDQHeSof08ULKEU1tb9ZAIjFRKNOd6VWAauVjISLt3ub199T71fTgPm3d5d4vLEMnrBqVBIKw0tVL8K82dE9Rfx4CGVAz8NPkpzPhPsy3JQeQ-y33Fxykey3GSnU0Lb-9Ay~IKW~VsydtxEg-h1bAoxv8k9tElK8oEYSWG4Q__&Key-Pair-Id=KUT5TJCACFTXG","author","","date","2025-03-21T17:20:20Z","article","Dr. Eric Washington, chief financial officer and treasurer for San Diego Community Power, presented the treasurer's report for the period ending Jan. 31, 2025, and asked the Finance and Risk Management Committee to recommend receipt and filing of the report.

\"We landed with a bottom line net position of 44,500,000,\" Dr. Washington said, reporting that year-to-date net operating revenue was approximately $822,500,000 against about $776,000,000 in total operating expenses. He told the committee total expenses had come in significantly lower than budgeted and credited procurement and power-services efforts.

Dr. Washington said total liquidity accessible to the agency exceeded half a billion dollars, composed of unrestricted cash reserves plus availability under a $250,000,000 line of credit that had zero outstanding balance at the time of the report. He noted portions of liquidity are reserved as collateral for counterparties and for obligations to the California Independent System Operator.

The treasurer reported the agency had reached about 65% of its reserve goal measured against a target of 180 days cash on hand; when line-of-credit availability is included, total equity equated to roughly 179 days. Senior finance staff added that customer participation in the community choice aggregation program remained above 95% across enrolled jurisdictions.

Committee members asked clarifying questions about deposit insurance arrangements and Community Reinvestment Act (CRA) ratings for banks that hold agency funds. Dr. Washington said deposits are placed in interest-bearing and ICS accounts and that staff would report back with CRA ratings for current depository banks.

The committee was asked to recommend receipt and filing of the treasurer's report; staff indicated no formal vote by the committee was required for the recommendation. The committee recorded no further action on the item at the meeting.

Ending: Staff will track follow-up requests, including providing CRA information for current banks and any further analysis of reserve build and liquidity strategies.","mediaType","Video","parentTitle","March 20, 2025 - Finance and Risk Management Committee","oneSentenceSummary","San Diego Community Power's CFO reported a year-to-date net position and liquidity updates for the period ending Jan. 31, 2025: reported net position contributions to reserves, more than half a billion in total liquidity when including an unused $250 million line of credit, and reserves at about 65% of the 180-day target.","taxTitle","San Diego Community Power, San Diego County, California","taxId",58530,"location","California","headline","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":72,"_73":56,"_74":56},6114967,"FRMC nominates Ditas Yamani as chair and Director Suzuki as vice chair",150,313000,463000,"/Search/View?dp=1&key=2740648-1d1f60c2a86f1e8b45ffc1a212f57a12&start=313&end=463","https://assets.pipeline.soar.com/2740648-1d1f60c2a86f1e8b45ffc1a212f57a12/thumbnail_313000.jpg","/articles/6114967/California/FRMC-nominates-Ditas-Yamani-as-chair-and-Director-Suzuki-as-vice-chair","https://secure.pipeline.soar.com/6114967-52ec7b39ff159901da6e3b1f5aa8c4c4/orig.mp4?Expires=1776218053&Signature=lgDhm0xmt9nOsOMiBgtb-EzREbrM5PTi7XYfzyK4bKl0BjBRYlClilekC-7UHwjB5ujenbeu3fwOU5RiZdBMnpk-0GLhQyqwSj6Ynd4GTbq7h7iDzpaRtr7-OrjNaGuOI316DfI~nxQTyeS1YPlakEr3jVZXR3Md0JYVCpPBoQwnDEXXr6meHzstLCy1VyzptP2LbuWrvUCEkFEt9G8qw5GYViHhFO69GlysUDRXFOXkJiqVo-i3V0oRvQxti0uuw~LpE7Il0svNO8xZZJH0B3K2vOqR-0E7UhRXQP3-eoLHgEbxem1f5b3txFNhKoCwExnQjcdENr7UcdqZN-pB1g__&Key-Pair-Id=KUT5TJCACFTXG","Interim Chair Kietha Sraman opened nominations and Councilmember Michael Inzunza offered brief welcoming remarks to new members before the committee proceeded to select officers.

Dr. Eric Washington, chief financial officer and treasurer, noted that under the joint powers agreement, each committee chooses its officers. A nomination was made to appoint Council Member Ditas Yamani as chair and Director Suzuki as vice chair. The motion received a second, and a roll-call vote was taken.

The committee recorded affirmative votes: one roll call recorded \"Aye\" from a director identified in the record as \"Director Zunseh,\" Director Suzuki voting \"Aye,\" and the interim chair (recorded as Niyamani/Yamani) voting \"Aye.\" The chair accepted the appointment at the meeting.

The committee did not tie the motion to any further administrative direction; the appointment places Yamani and Suzuki in the officer roles for the FRMC as provided by the JPA section cited in the meeting.

Ending: The committee adjourned after completing regular business and announcing the next meeting date.","The Finance and Risk Management Committee nominated and voted to appoint Ditas Yamani as committee chair and Director Suzuki as vice chair, citing the Joint Powers Agreement provision on committee officers.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":72,"_73":56,"_74":56},6114971,"Neighborhood National Bank asks San Diego Community Power to consider up to $10 million deposit",94,130000,224000,"/Search/View?dp=1&key=2740648-1d1f60c2a86f1e8b45ffc1a212f57a12&start=130&end=224","https://assets.pipeline.soar.com/2740648-1d1f60c2a86f1e8b45ffc1a212f57a12/thumbnail_130000.jpg","/articles/6114971/California/Neighborhood-National-Bank-asks-San-Diego-Community-Power-to-consider-up-to-10-million-deposit","https://secure.pipeline.soar.com/6114971-2bbb03f66f9d8632dc8501736655d4b4/orig.mp4?Expires=1776218053&Signature=iPAJ7dLBAvMoUCm~9vDQKb3nxuhhSXps1km5BAF8C8zVnszqaC7uYdXFpNiTN-lfj6xgO7oB8URjkdIXw0JQNcU5c3HEMV2t69RtFin0ejybHeY4duSu2ChJoiDVr7tcIxrZ2OXVsVbYLDyiTpacOKQqaNaS1sQYzJWJSarlC~o7e9HMkGqr68mp19JcY12z5GzZjoAhceO6F8nbAlE8u~NXSG9nWFxyQbExNQffkw6hT2JhnflLjeTRmuVt1prgkdeZW5qPvQbTOEZAfqjHIn3je5~SB0fdL0Lec7fEmNX83FPcPbKamcqNbe5RXLxryLkyovGPOpkkmunwmuVtog__&Key-Pair-Id=KUT5TJCACFTXG","Scott Andrews, president and CEO of Neighborhood National Bank, used the public comment period at the Finance and Risk Management Committee meeting on March 20 to renew a request that San Diego Community Power consider placing deposit reserves with his institution.

\"We visited the committee several months ago to inquire and express our interest in serving as a depository for San Diego Community Power,\" Andrews said. He described Neighborhood National Bank as a Community Development Financial Institution that serves low- and moderate-income communities and minority-, women- and veteran-owned businesses. \"We're still interested in providing San Diego Community Power with banking services,\" he said, asking that the committee or Chief Financial Officer Dr. Eric Washington consider placing up to $10,000,000 in reserve funds on deposit with his bank.

Andrews told the committee the bank could provide FDIC insurance coverage for deposited funds and would offer a competitive rate; he requested follow-up discussions with Dr. Washington and appropriate staff. No committee action or vote followed the public comment.

The request was made during non-agenda public comment and was recorded so the committee and staff could decide whether to pursue further conversations with the bank. Dr. Eric Washington later discussed general deposit and reserve management practices during the treasurer's report but did not announce any decision on Andrews' proposal by the meeting's end.

Ending: The committee did not take action on the request during the meeting; Andrews said he was available to answer questions and to meet with staff for follow-up.","At the March 20 meeting of the Finance and Risk Management Committee, Scott Andrews of Neighborhood National Bank asked San Diego Community Power to consider placing up to $10 million in reserve deposits with his CDFI, saying funds would be FDIC-insured and offered at a competitive rate.","actionData","errors"]

Article not found

Treasurer reports stronger-than-budgeted results, liquidity above $500 million and reserve goal at 65%

FRMC nominates Ditas Yamani as chair and Director Suzuki as vice chair

Neighborhood National Bank asks San Diego Community Power to consider up to $10 million deposit