Finance & Risk
Management
Committee
Meeting
May 12, 2022
Welcome
Roll Call
Public Comment for items
Not on the Agenda
Items to be Added,
Withdrawn or Reordered on
the Agenda
REGULAR AGENDA
1. Report on Treasurer’s
Report for Period
Ending 3/31/22
Committee Member
Announcements
Adjournment
Regular
Meeting
Agenda
3 Item 1
Treasurer’s Report for Period Ending 3/31/22
Recommendation:
Receive and File Treasurer’s Report for Period
Ending 3/31/22
Presenter:
Dr. Eric Washington,
Chief Financial Officer
4 Results for the period were in line compared to
the amended budget:
• Net operating revenues were 0.8% under the
budgeted amount primarily due to a timing
differential related to billing.
• Operating expenses came in 1.6% under the
budgeted amount
Financial results for the YTD FY22:
• $251.38M in net operating revenues
• $245.79M in total expenses (includes
energy costs of $239.80M or 95% of
net revenues)
• $5.59M change in net position
Item 1: Treasurer’s Report
YTD FY22 Budget v. Actual
Budget Comparison
YTD FY22 as of
3/31/22 (9 mos)
FY22 YTD
Budget
Budget
Variance ($) Budget (%)
Net Operating Revenues $ 251,375,501 $ 253,498,793 $ (2,123,292) 99 Total Expenses $ 245,788,242 $ 249,855,356 $ (4,067,114) 98 Change in Net Position $ 5,587,259 $ 3,643,437 $ 1,943,822 $-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
Net Operating Revenues Total Expenses Change in Net Position YTD FY22 Results v. Budget
YTD FY22 as of 3/31/22 (9 mos) FY22 YTD Budget
5 Item 1: Treasurer’s Report
Year-to-date financial results compared to
projections:
• Net operating revenues were 0.7%
under the proforma projections
• Total expenses were 1.2% under the
proforma projections
• Change in net position was $1.22M
over the projected
YTD FY22 Proforma v. Actual
Proforma Comparison
YTD FY22 as of
3/31/22 (9 mos)
FY22 YTD
ProForma
ProForma
Variance ($) Proforma (%)
Net Operating Revenues $ 251,375,501 $ 253,054,678 $ (1,679,177) -0.66% Total Expenses $ 245,788,242 $ 248,686,920 $ (2,898,678) -1.17% Change in Net Position $ 5,587,259 $ 4,367,758 $ 1,219,501 27.92% $-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
Net Operating Revenues Total Expenses Change in Net Position YTD FY22 Results v. Proforma
YTD FY22 as of 3/31/22 (9 mos) FY22 YTD ProForma
6 Item 1
Treasurer’s Report for Period Ending 3/31/22
Recommendation:
Receive and File Treasurer’s Report for Period
Ending 3/31/22
Finance & Risk
Management
Committee
Meeting
Next Regular Meeting
June 2, 2022