Finance & Risk
Management
Committee
Meeting
November 3, 2022
Thank you for
your service
Mayor Dedina!
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Withdrawn or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
9/30/22
Committee Member
Announcements
Adjournment
Regular
Meeting
Agenda
4 Item 1
Treasurer’s Report for Period Ending 9/30/22
Recommendation: Receive and File Treasurer’s
Report for Period Ending 9/30/22
Presenter:
Dr. Eric Washington,
Chief Financial Officer
5 Results for the period underperformed overall
compared to the adopted budget:
• Net operating revenues 12.0 percentage
points over budget.
• Operating expenses came in 16.0
percentage points over budget
Financial results for the YTD FY23:
• $286.80M in net operating revenues
• $272.89M in total expenses (includes
energy costs of $163.67M or 91% of net
revenues)
• $13.91M change in YTD net position
Item 1: Treasurer’s Report
YTD FY23 Budget v. Actual
6 Item 1: Treasurer’s Report
Year-to-date financial results compared to
projections:
• Net operating revenues were 10.64%
higher than proforma projections
• Total expenses were 15.13% over the
proforma projections
• Change in net position was $8.3M under
the projected
YTD FY23 Proforma v. Actual
7 Reserves
18%
Lines of
Credit
Unmet Reserves 14%
68%
$28M
Outstanding
Debt
FY 2022-23 YTD
$M $20M $40M $60M
$54M
Total Liquidity
FY 2022-23 YTD
$M $20M $40M $60M $80M
$14M
Reserve
Contribution
FY 2022-23 YTD
$M $50M $100M
18%
Percent Reserve
Goal Met
FY 2022-23
Item 1: Treasurer’s Report CONTRIBUTION RESERVES GOAL DEBT Reserve contribution
for the fiscal year
Outstanding loans
FY23 YTD
LOC
City loans
Total available liquidity
FY23 YTD
Unrestricted
Cash LOC
$171M Reserve
Target FY23
$14M - Actual
$21M - Budget $28M - Budget
$54M
$107M - Goal
8 Item 1
Recommendation: Receive and File Treasurer’s
Report for Period Ending 9/30/22
Presenter:
Dr. Eric Washington,
Chief Financial Officer
Finance & Risk
Management
Committee
Meeting
Next Regular Meeting
December 1, 2022