Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Report topic
No spam. Unsubscribe anytime.
Utility operations within budget; committee approves professional-services invoices with abstentions
Summary
Third-quarter operating review showed 55% of operations budget spent and operating revenues at about 66% of budget; committee approved three professional-services invoices (1074, 91685, 00112) with votes recorded as 6-0 and one abstention on each.
The Utility Policy Committee on Nov. 13 reviewed third-quarter utility finances and approved several professional-services invoices.
A member’s financial summary showed the operations budget at $24.2 million with $15.44 million spent (about 55 percent) and operating revenue budgeted at $41.7 million with $28.7 million received so far (roughly 66 percent, expected to rise with year-end accruals). The summary flagged system-capacity buy-in fees of about $6.635 million and called out wage-and-benefit increases of roughly $1 million compared with the prior year.
Committee members discussed debt-service timing and accounting variations that can affect year-over-year comparisons. One member asked for follow-up on the apparent wage variances; staff agreed to look into the line-item details.
In motions, the committee approved several invoices: Invoice 1074 (motion carried 6-0 with 1 abstention), Invoice 91685 (motion carried 6-0 with 1 abstention), and Invoice 00112 (motion carried 6-0 with 1 abstention). The committee recorded the votes in the meeting minutes.
Next steps: Staff will continue to monitor budget-to-actuals and will follow up on wage-account variances as requested.
