Finance and
Risk
Management
Committee
Meeting
March 20, 2025
Welcome
and
Call to
Order
Roll
Call
4 Items to
be Added,
Withdrawn
or
Reordered
on the
Agenda
Public
Comment
for Items
not
on the
Agenda
7 Consent Calendar
Consent
Calendar
1. Approve February 20, 2025, Meeting Minutes
Public
Comment
for
Consent
Calendar
9 Regular
Agenda
2. Appointment of a Chair and Vice Chair to the
Finance and Risk Management Committee
3. Treasurer’s Report for Period Ending January 31,
2025
10 Item No. 2
Recommendation:
That the Finance and Risk Management Committee (FRMC) Appoint a Chair and Vice Chair.
Presenter:
Dr. Eric Washington, Chief Financial Officer/Treasurer
Appointment of a Chair and Vice Chair to the Finance and Risk Management Committee
Public
Comment for
Item No. 2
12 Item No. 3
Recommendation:
Receive and File Treasurer's Report for Period Ending January 31, 2025.
Treasurer’s Report for Period Ending January 31, 2025
Presenter:
Dr. Eric Washington, Chief Financial Officer/Treasurer
Christopher Do, Senior Financial Analyst
13 Results for the period outperformed overall
compared to the amended budget:
• Net operating revenues were in line with
expectations.
• Operating expenses came in 5.0
percentage points under budget.
Financial results for the YTD FY25:
• $820.5M in net operating revenues
• $776.0M in total expenses (includes
energy costs of $740.9M or 96% of net
revenues)
• $44.5M change in YTD net position
Item 1: Treasurer’s Report
YTD FY25 Budget v. Actual
$-
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
$800,000,000
$900,000,000
Net Operating Revenues Total Expenses Change in Net Position YTD FY25 Results v. Budget
YTD FY25 as of 1/31/25 (7 months) FY25 YTD Budget
YTD FY25 as of
1/31/25 (7 months)
FY25 YTD Budget
Amended Budget Variance ($) Budget (%)
Net Operating Revenues $ 820,521,633 $ 821,999,973 $ (1,478,340) 100% Total Expenses $ 776,036,841 $ 817,385,000 $ (41,348,159) 95% Change in Net Position $ 44,484,792 $ 4,614,973 $ 39,869,819 864% Budget Comparison
14 $M $50M $100M $150M $200M
$M $200M $400M $600M
$45M
Reserve
Contribution
FY 2024-25 YTD
Item 1: Treasurer’s Report
$574M
Total Liquidity
FY 2024-25 YTD
$0M
Outstanding
Debt
FY 2024-25 YTD
65%
Percent Reserve
Goal Met
FY 2024-25
CONTRIBUTION RESERVES
GOAL DEBT
Reserve contribution
for the fiscal year
Outstanding loans
FY25 YTD
Total available liquidity
FY25 YTD
$576M 180-DCOH
Reserve Target FY25
$556M
$45M Actual
FYTD $5M Budget
FYTD
$361M
Cash
$212
LOC
$M $20M $40M $60M
Cash
65%
Unmet
Reserves
35%
15 Item 1: Treasurer’s Report
113
Days
Cash on Hand
179
Days
Cash on Hand with
Total Liquidity
$383.3M
$388.5M
$361.7M
$336.0M
$299.8M
$296.1M
$346.3M
$367.7M
$422.2M
$417.2M
$371.0M
$361.7M
$496.3M $501.5M $474.7M
$449.0M $412.8M $409.1M
$450.3M $471.7M
$526.2M
$582.7M $583.5M
$574.2M
$0.0M
$50.0M
$100.0M
$150.0M
$200.0M
$250.0M
$300.0M
$350.0M
$400.0M
$450.0M
$500.0M
$550.0M
$600.0M
$650.0M
$700.0M
2/29/20243/31/20244/30/20245/31/20246/30/20247/31/20248/31/20249/30/2024 10/31/202411/30/202412/31/2024
1/31/2025
Rolling 12 Month Reserves FY 2024-25
Unrestricted Cash Lines of Credit
FY25 RESERVE GOAL: $575.8M
16 Item 1: Treasurer’s Report
Public
Comment for
Item No. 3
Committee Member
Announcements
Adjournment
Next Regular
Finance and Risk
Management
Committee
Meeting
April 17, 2025