2022-23 Surplus
Allocation to Long-Term
Renewables
March, 2024
Background: Total Surplus Available
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2023 RFO Procurement Update
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Surplus Allocation Recommendation
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Portfolio Summary
GASB62 Accounting Treatment
oOnce contracts are signed, for accounting purposes we would set the accounting treatment regardless of project development outcomes.
oStaff recommends releasing the full $10,504,837 in 2027 based on the forecasted project online dates
oAlternative Approaches for GASB 62 Treatment:
o On July 1, 2024, release it all into the general funds o Starting on July 1, 2027 - release equal amountsfrom the GASB62 account annually over the course of 15 years
Item 8. Renewable Surplus Allocation and GASB 62 Methodology (Action Item)
Ava Community Energy Financial, Administrative and Procurement Subcommittee
March 13, 2024
- Document
- Item 8. Renewable Surplus Allocation and GASB 62 Methodology (Action Item)
- Meeting
- March 13, 2024
- Body
- Ava Community Energy Financial, Administrative and Procurement Subcommittee
- Original file
- 1.3 MB
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