Consent Item 11
Consent Item 11
TO: Ava Community Energy Authority Board of Directors
FROM: Howard Chang, Chief Executive Officer & Treasurer SUBJECT: Treasurer’s Report (Informational Item)
DATE: July 17, 2024
__________________________________________________________________ Recommendation
Receive report on Ava’s cash position.
Background and Discussion
For the quarter ending June 30, 2024, Ava has maintained a positive cash balance on all Ava bank accounts. Below is a summary of account balances, cash received, and outstanding loan balances.
Account Balances as of 6/30/2024
Account Amount
Internal Operating $ 9,017,834
Operating Fund $ 204,673,627
Lockbox $ 12,811,172
US Bank $ 35,000,000
Money Market $ 163,494,834
Insured Cash Sweep Checking $ 135,864,193
Insured Cash Sweep Saving $ 20,722,272
Wells Fargo $ 514,136
CDARS $ 50,000,000
Total $ 632,098,068
Consent Item 11
Cash Received by Month into Lockbox Account
Outstanding Loan Balances:
Union Bank Credit Facility: $0.00
Customer Delinquency:
As of June 30, 2024
31 – 60 Days: $ 5,765,662
61 – 90 Days: $ 4,185,416
91 - 120 Days: $ 3,135,789
120+ Days: $ 49,041,836
April 2024 $ 78,257,794
May 2024 $ 76,263,385
June 2024 $ 63,214,655
Total $ 217,735,834