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PUC CFO reports positive pre-audit balances; WSIP milestones and upcoming appropriation requests set
Summary
PUC CFO Todd Reedstrom presented pre-audit financial results showing available fund-balance increases, explained reserve and debt-coverage metrics, and outlined budget monitoring steps; staff also summarized Water System Improvement Program milestones and upcoming appropriation requests.
At its Oct. 14 meeting the San Francisco Public Utilities Commission heard a detailed pre-audit financial presentation from Todd Reedstrom, assistant general manager for business services and chief financial officer.
Reedstrom told commissioners that the water enterprise began the year with available fund balance about $55 million higher than budgeted and that, after accounting for variances, the Water Department was projected to have about $63,700,000 on account as of June 30, 2008. He said interest income was about $5.3 million higher than budgeted and that operating…
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