Acting Senior Vice President and Chief Financial Officer Adam McEnroy briefed the Austin Energy Commission on the FY2025 fourth‑quarter financial results, describing the year as largely weather‑normal and noting several one‑time and non‑core items that affect headline metrics.

McEnroy said his team “were able to make a $30,000,000 transfer to our power supply stabilization fund,” and that the utility finished the year with an over‑collected power supply adjustment balance of about $105,000,000 that staff plan to return to customers through rates. He told commissioners the operating result was $7 million above budget in headline terms but that, excluding non‑core components such as the $30 million transfer and an actuarial retirement adjustment, the utility would have reported operating results below budget. He also cited a $42,000,000 deficiency of revenues to cover expenses compared with a $30,000,000 deficiency budgeted at the start of the year; staff attributed the variance largely to May microburst recovery costs.

McEnroy noted credit market activity and ratings: “we were reaffirmed at AA minus by S and P,” and staff successfully issued $425,000,000 of debt during the reporting period. He outlined several metrics: days‑cash‑on‑hand was about 195 days including PSA overcollections (about 162 days excluding the $105M overcollection); operating margin was boosted by an actuarial retirement adjustment and otherwise would be close to target; debt‑to‑capitalization remained above target at about 57%.

Commissioners pressed staff on how the $30 million transfer differs from the larger $105 million overcollection and how those amounts affect cash‑on‑hand calculations; McEnroy explained the $30 million moved to long‑term reserves is intended to be held for stress events while the $105 million remains designated to be returned to customers. He and commissioners also discussed ERCOT congestion trends, which staff said have fallen from peak years and were materially lower in the weather‑normal 2025 year in part because of added solar and battery capacity in ERCOT.

Next steps: staff will continue regular financial reporting, monitor implementation of the financial plan and return required updates to the commission.