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SFPUC budget report flags lower retail volumes; commission approves $200M revolver for interim funding
Summary
SFPUC’s Q2 budget review showed lower retail sales across water, wastewater and power; staff noted overtime pressure tied to a Hetch Hetchy shutdown. Commissioners approved a $200 million revolving credit agreement (two $100M facilities) with Wells Fargo for interim funding.
The San Francisco Public Utilities Commission heard the agency’s second-quarter budget status report and voted to add a revolving credit agreement to its interim funding toolkit.
Anna Doening, presenting the FY2024–25 Q2 budget status (actuals through December), said retail volumes for water, wastewater and power are below budget and are the primary cause of revenue shortfalls. "We are on track" with financial policy targets overall, she said, but noted the water enterprise was over budget in the overtime line and…
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