San Diego Community Power treasurer reports reserves, liquidity meet targets; committee receives report

The San Diego Community Power Finance and Risk Management Committee on June 12 received and filed the treasurer’s report for the fiscal period ending April 30, 2025.

The report, presented by Dr. Eric Washington, chief financial officer and treasurer, said year-to-date net operating revenues were essentially on budget, operating expenses were about 2% lower than budgeted, and staff recorded a year‑to‑date contribution to reserves of about $24,000,000. Washington said total access to liquidity stood at approximately $535,000,000, including roughly $323,000,000 in cash and a $212,000,000 revolving line of credit with JPMorgan Chase Bank.

Washington told the committee that the agency had no outstanding debt and that cash-based reserves equaled about 56% of the agency’s reserve target. He said days cash on hand measured roughly 100 days against a 180‑day target and that participation across member jurisdictions averaged above 95%.

Committee members did not request further public comment and the committee recorded the item as a receive-and-file action.

Washington and staff noted the seasonal nature of the reserve trajectory and that days‑cash and reserve ratios can ebb and flow through the fiscal year. The treasurer said the agency continues to track participation rates by member jurisdiction and will provide updates where needed.

The committee took no additional direction beyond receiving and filing the report.