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SFPUC reports FY2014–15 pre‑audit results: drought reduced revenues but reserves targets met
Summary
The SFPUC's pre‑audit FY2014–15 report showed revenue declines tied to drought: water sales fell by about $41 million and wastewater by about $16.6 million, but policy targets for debt service coverage and reserves were met; staff will present scenario planning for the 2017–18 biennial budget.
Eric Sandler, Assistant General Manager for Business Services and CFO, presented the SFPUC's quarterly budget status for fiscal year 2014–15 (pre‑audit) at the Aug. 11 meeting. Sandler said all three enterprises—water, wastewater and power—experienced reduced revenues attributable to drought and drought response, but the commission's reserve and debt service coverage policy…
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