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Community Power posts $112 million boost to net position; board approves LAIF enrollment
Summary
San Diego Community Power reported fiscal-year 2025 results showing a $112 million improvement in net position, strong cash reserves and high customer retention; the committee voted to recommend joining the Local Agency Investment Fund to seek higher yields.
San Diego Community Power’s Finance and Risk Management Committee on Sept. 18 received a treasurer’s report showing the agency finished the fiscal year ending June 30, 2025, ahead of budget and voted to recommend board adoption of a resolution authorizing enrollment in the State of California’s Local Agency Investment Fund (LAIF).
For the record, Dr. Eric Washington, chief financial officer and treasurer, told the committee that the agency finished the year “ahead of budget with a change in that position. The bottom line number of $112,000,000,” which he said was “approximately $78,000,000 over our projected budget.” Washington attributed the improvement to several factors, including lower-than-expected charges…
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