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San Diego Community Power reports stronger-than-expected fiscal 2024–25 results, staff say
Summary
San Diego Community Power finance staff reported audited fiscal 2024–25 results that staff said outperformed budget, citing higher net revenue, investment returns and expense savings; the committee received the report as a filed item with no further action.
San Diego Community Power staff told the Finance & Audit Committee that audited fiscal year 2024–25 results exceeded budgeted expectations, powered largely by higher-than-forecast revenues, investment returns and expense reductions.
"I could not be more excited to present this item," said Kirk Washington, Chief Financial Officer and Treasurer, as he opened the committee presentation. Washington said net revenue came in roughly 2% above budget and highlighted contributions from…
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