Consent Item 6
TO: Ava Community Energy Authority Board of Directors
FROM: Howard Chang, Chief Operating Officer & Treasurer SUBJECT: Treasurer’s Report (Informational Item)
DATE: January 17, 2024
__________________________________________________________________ Recommendation
Receive report on Ava’s cash position.
Background and Discussion
For the quarter ending December 31, 2023, Ava has maintained a positive cash balance on all Ava bank accounts. Below is a summary of account balances, cash received, and outstanding load balances.
Account Balances as of 12/31/2023
Account Amount
Internal Operating $ 1,583,161
Operating Fund $ 87,324,370
Lockbox (Includes $1,000,000 reserve) $ 9,550,848
US Bank $ 35,000,000
Money Market $ 159,557,005
Insured Cash Sweep $ 153,372,423
Wells Fargo $ 550,832
CDARS $ 49,000,000
Total $ 495,938,639
Consent Item 6
Cash Received by Month into Lockbox Account
Outstanding Loan Balances:
Union Bank Credit Facility: $0.00
Customer Delinquency:
As of December 31, 2023
31 – 60 Days: $ 7,333,307
61 – 90 Days: $ 4,499,004
91 - 120 Days: $ 3,380,699
120+ Days: $ 30,021,533
October 2023 $ 99,386,275
November 2023 $ 78,983,580
December 2023 $ 66,624,454
Total $ 244,994,309