Budget to Actuals
Report for FY 2021-
2022
NOVEMBER 4, 2022
Jason Bartlett
Senior Finance Manager
Introduction
2 • EBCE’s fiscal year begins on July 1 and ends on June 30 of the following year
• EBCE’s Board of Directors approves the next year’s budget in the June Board meeting
• Expenses are tracked against budget line items throughout the fiscal year, and a final summary report is issued with the audited financial statements at the end of the year
Attachment A Highlights
3 • Total Revenue and Other Sources is about 12% above budgeted amounts, due to higher than expected PG&E rates in 2022
• Energy costs are about 7% above budgeted amounts, due to increasing energy costs through the year
• Other expenditures were 9.7% under budget ($3.6MM), due to lower costs in expected personnel expenses and functional areas • Interest was about on par with budget
• Total Expenses were 7% above budget, as the combination of higher energy costs and reduced overhead
• Net result was about $28.9M above budget, which represents a 5% margin
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2021/22 YTD
Budget
2021/22 YTD
Actual
2021/22 YTD
Budget
Variance
Over (Under)
2021/22 YTD
Actual/ Budget
%
2021/22 Annual
Budget
2021/22 Budget
Remaining
REVENUE AND OTHER SOURCES Electricity Sales 508,636,000 $ 549,707,554 $ 41,071,554 $ 108% 508,636,000 $ (41,071,554) $ Uncollectables (8,939,000) (10,994,151) (2,055,151) 0% (8,939,000) 2,055,151 Investment Income 221,757 798,000 (576,243) 28% 798,000 576,243 CAPP Revenue - 7,901,267 7,901,267 0% - (7,901,267)
Liquidated Damages - 14,658,400 14,658,400 0% - (14,658,400) Other Income 894,000 346,148 (547,852) 39% 894,000 547,852 Total Revenue and Other Sources 501,389,000 561,840,975 60,451,975 112% 501,389,000 (60,451,975) EXPENDITURES AND OTHER USESCURRENT EXPENDITURES Cost of energy 474,633,254 442,338,000 32,295,254 107% 442,338,000 (32,295,254) Data Management/Billing/Customer Service 7,963,686 8,645,000 (681,314) 92% 8,645,000 681,314 PG&E Service Fees 2,752,000 2,718,013 (33,987) 99% 2,752,000 33,987 Scheduling 843,000 681,437 (161,563) 81% 843,000 161,563 Personnel 9,421,000 7,887,860 (1,533,140) 84% 9,421,000 1,533,140 Marketing, Outreach, Communications 1,284,047 1,614,000 (329,953) 80% 1,614,000 329,953 Legal, Policy, & Regulatory Affairs 1,026,409 1,592,000 (565,591) 64% 1,592,000 565,591 Other Professional Services 850,000 926,766 76,766 109% 850,000 (76,766) General & Administrative 3,033,000 2,360,133 (672,867) 78% 3,033,000 672,867 Local Development (Transfer to LD Fund Budget) 8,475,000 8,475,000 - 100% 8,475,000 - Depreciation 60,000 62,601 2,601 104% 60,000 (2,601)
Total Current Expenditures 479,623,000 508,019,206 28,396,206 106% 479,623,000 (28,396,206) OTHER USES Interest and Financing Costs 898,000 903,504 5,504 101% 898,000 (5,504) Capital expeditures 5,500,000 8,699,252 3,199,252 158% 5,500,000 (3,199,252) Total Debt Service 6,398,000 9,602,756 3,204,756 150% 6,398,000 (3,204,756) Total Expenditures, Other Uses and Debt Service 486,021,000 517,621,962 31,600,962 107% 486,021,000 (31,600,962) Net Increase (Decrease) in Available Fund Balance 15,368,000 $ $ 44,219,013 $ 28,851,013 288% 15,368,000 $
EAST BAY COMMUNITY ENERGY AUTHORITY
OPERATING FUND
BUDGETARY COMPARISON SCHEDULE
Periods Ended June 30, 2022
2021/22 Annual
Budget
2021/22 YTD
Actual
2021/22 Budget
Remaining
REVENUE AND OTHER SOURCES
Transfer from Operating Fund 8,475,000 $ 8,475,000 $ - $ Grants/Credits 390,000 1,614,597 (1,224,597)
Total Revenues and other sources 8,865,000 10,089,597 (1,224,597)
EXPENDITURES AND OTHER USES
CURRENT EXPENDITURES
Program expenses 8,475,000 2,389,776 6,085,224
Total Expenditures and other uses 8,475,000 2,389,776 6,085,224 Net Increase (Decrease) 390,000 7,699,821
Fund balance at beginning of period 10,067,835 10,067,835 Fund balance at end of period $ 10,457,835 $ 17,767,656
LOCAL DEVELOPMENT FUND
BUDGETARY COMPARISON SCHEDULE
Periods Ended June 30, 2022