Finance & Risk
Management
Committee
Meeting
December 7, 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Withdrawn or Reordered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. Treasurer’s Report for Period
Ending 10/31/22
Committee Member
Announcements
Adjournment
Regular
Meeting
Agenda
3 Item 1
Treasurer’s Report for Period Ending 10/31/22
Recommendation: Receive and File Treasurer’s
Report for Period Ending 10/31/22
Presenter:
Dr. Eric Washington,
Chief Financial Officer
4 Results for the period underperformed overall
compared to the adopted budget:
• Net operating revenues 10.0 percentage
points over budget.
• Operating expenses came in 13.0
percentage points over budget
Financial results for the YTD FY23:
• $371.71M in net operating revenues
• $328.08M in total expenses (includes
energy costs of $319.58M or 86% of net
revenues)
• $43.63M change in YTD net position
Item 1: Treasurer’s Report
YTD FY23 Budget v. Actual
5 Item 1: Treasurer’s Report
Year-to-date financial results compared to
projections:
• Net operating revenues were 10.41%
higher than proforma projections
• Total expenses were 12.7% over the
proforma projections
• Change in net position was $1.9M under
the projected
YTD FY23 Proforma v. Actual
6 Reserves
26%
LOC
10%
Unmet Reserves
64%
$34M
Outstanding
Debt
FY 2022-23 YTD
$62M
Total Liquidity
FY 2022-23 YTD
$44M
Reserve
Contribution
FY 2022-23 YTD
26%
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
City loans
Total available liquidity
FY23 YTD
$171M Reserve
Target FY23
$44M - Actual
$46M - Budget $34M - Budget
$62M
$107M - Goal
$M $20M $40M $60M
LOC
Unrestricted
Cash LOC
$M $50M $100M
$M $20M $40M $60M $80M
7 Item 1: Treasurer’s Report
$57.1M $49.3M
$31.4M $45.2M
$18.7M $36.7M
$23.0M
$16.5M
$75.7M $85.9M
$54.4M $61.6M
$0.0M
$20.0M
$40.0M
$60.0M
$80.0M
$100.0M
$120.0M
$140.0M
$160.0M
$180.0M
7/31/2022 8/31/2022 9/30/2022 10/31/2022
Year-to-Date Reserves FY 2023
Unrestricted Cash Lines of Credit Reserve Goal Total Reserves RESERVE GOAL: $171.3M
8 Item 1
Recommendation: Receive and File Treasurer’s
Report for Period Ending 10/31/22
Next Regular
Finance & Risk
Management
Committee
Meeting
January 12, 2022