Electric Utility Fund
Cash Flow Summary
(December 31, 2025)
Budget Actual % of Budget
Revenue
Sales Revenues 90,550,120 50,643,093 56%
Development Impact Fees 320.930 161,291 50%
Other Revenues 6,329,180 2,959,112 47%
Total Revenues 97,200,230 53,763,496 55%
Expenses
Purchased Power 54,161,260 29,496,913 54% Non Power 22,547,890 10,111,122 45%
Capital Projects 7,792,783 2,116,480 27%
Debt Service 4,181,130 3,107,133 74%
Cost of Service* 4,243,420 4,243,420 100%
PILOT (Transfer to General Fund)* 7,765,150 7,765,150 100% Total Expenses 100,691,633 56,840,218 56%
Beginning Cash Balance (7/1/25) 36,949,983
Ending Cash Balance (12/31/25) 43,666,202
Reserve Policy Target $29,719,600
% of Target 147%
*One time annual transfers made to GF at beginning of FY 492
Electric Utility Funds
Cash Balances
(December 31, 2025)
Operating / Capital Funds $ 24,080,219
Low Carbon Fuel Standard (LCFS) Fund $ 54,190
Public Benefits Fund $ 10,877,882
Impact Fee Fund $ 1,163,094
Solar Surcharge Fund $ 372,391
Greenhouse Gas Fund $ 7,118,426
Total $ 43,666,202
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Electric Utility Reserve Policy
(December 31, 2025)
Purpose Target Actual
Operating Reserve $29,719,600 $ 43,666,202
Cash balances
support City Council
approved reserve
requirements and
provide funds for pay
as you go Capital
Improvement
Projects.
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Capital Improvement Project
5-Year Outlook
(December 31, 2025)
Project FY 25-26
Budget*
FY 26-27
Forecast
FY 27-28
Forecast
FY 28-29
Forecast
FY 29-30
Forecast
Distribution Capacity Program $907,347 $0 $0 $0 $0
Underground / Overhead Maintenance $1,230,000 $1,145,000 $1,145,000 $1,145,000 $1,145,000 Streetlight Maintenance / Repair $100,000 $100,000 $100,000 $100,000 $100,000 230 kV Interconnection Project** $1,648,825 $25,000 $25,000 $25,000 $25,000 Substation Maintenance / Improvements $1,649,312 $730,000 $550,000 $550,000 $550,000 Facility & Security Improvements $110,102 $50,000 $50,000 $50,000 $50,000 Wildfire Mitigation (Lodi Lake)*** $300,000 TBD TBD TBD TBD Work for Others $750,000 $750,000 $750,000 $750,000 $750,000 Vehicles & Equipment $1,097,197 $855,000 $385,000 $110,000 $110,000 Total Projects $7,792,783 $3,655,000 $3,005,000 $2,730,000 $2,730,000 *Does not include budget adjustments made after December 31, 2025 for FY 27 planning efforts **Includes preliminary costs only - construction costs will be debt financed ***Future phases being estimated as part of future year planning efforts 495
5-Year Financial Forecast
Looking Ahead
FY 25-26
Budget
FY 26-27
Forecast
FY 27-28
Forecast
FY 28-29
Forecast
FY 29-30
Forecast
Available Cash $38,419,840 $38,094,532 $39,373,742 $39,096,121 $41,726,134 Days Cash 150 147 148 145 151
Reserve Target $29,719,600 $30,225,131 $30,719,094 $31,175,717 $31,691,588 % of Target 129% 126% 128% 125% 132%
• As reported to S&P and Moody’s in late Fall 2025
• Forecast assumes funding of all budgeted full-time positions in future years • Does not include FY 26 midyear adjustments
• Assumes CPI level rate increase of 3 percent in FY 30 496
Power Sales
(December 31, 2025)
Power Sales (kWh)
Customer Class Budget Actual
Residential 176,599,645 92,303,870
Commercial 170,741,313 88,768,907
Industrial 111,099,328 59,229,778
Total 458,440,286 240,302,555
Revenue ($)
Customer Class Budget Actual Average Base
Rate (w/ECA) PG&E* Lodi
vs. PG&E
Residential $ 38,813,826 $ 21,345,694 $ 0.1907 ($0.2313) $ 0.4107 44% LOWER Commercial $ 33,833,628 $ 18,816,109 $ 0.1705 ($0.2120) $ 0.4002 47% LOWER Industrial $ 17,902,666 $ 10,481,290 $ 0.1332 ($0.1770) $ 0.3373 47% LOWER Total $ 90,550,120 $50,643,093 $ 0.1691 ($0.2107) $ 0.3852 45% LOWER *Based on 11 months of reported data for CY 2025 by PG&E 497
ECA Revenue
(December 31, 2025)
Customer Class Total ($)
Residential $ 3,742,823
Commercial $ 3,680,571
Industrial $ 2,591,581
Total Revenue $ 10,014,975
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Electric Utility Fund
Operating Results
(December 31, 2025)
Budget Actual % of Budget
Personnel $ 15,169,300 $ 7,993,049 53%
Supplies, Materials, Services $ 5,597,400 $ 1,635,246 29% Other Payments $ 1,708,640 $ 448,346 26%
Utilities $ 72,550 $ 34,480 48%
Total Operating Expenses $ 22,547,890 $ 10,111,122 45% 499
Power Supply Costs
(December 31, 2025)
Budget Actual % of Budget
Generation $ 36,713,680 $ 22,379,104 61%
Transmission $ 15,373,900 $ 6,131,958 40%
Management Services $ 2,073,680 $ 985,851 48% Total Power Supply Costs $ 54,161,260 $ 29,496,913 54% 500
Load Coverage
• LEU continues to meet or exceed Risk Management targets 501
Risk Oversight Committee (ROC)
Meeting Highlights
• Six (6) ROC Meetings held July – December 2025
– Forward energy purchases covering open positions Oct 2025 – Jun 2027 – Forward Resource Adequacy (RA) purchases for Apr –Sept 2026 – Purchase of Vintage 2026 Portfolio Content Category (PCC) 1 RECs – Purchase of Vintage 2024 and 2025 PCC 3 RECs
– Completed Cap & Trade transactions
– Purchase of short-term RECs and RA from Nevada Irrigation District – Purchase of short-term bundled energy + PCC 1 RECs from Silicon Valley Power – Approved LEU Annual Reserve Target amount based on adopted budget – Discussed market conditions and hedging results
– Annual review of Renewables Portfolio Standard (RPS) Procurement Plan – Accepted FY 2025 Billing Settlement Refund from NCPA
– Discussed LCFS base credit transfers to POUs
– Discussed several confidential Renewable Energy Projects being marketed – Discussed STIG Repower Project
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Activity Highlights
• 230 kV Project EIR completed and approved
• Completed CPUC audit
• Successfully completed financial review with S&P and Moody’s – Maintained existing ratings with stable outlook
• Completed Council required 3-year review of LEU Reserve Policy • Issued EV Master Plan RFP
• Updated public EV charging rate to ensure cost recovery • Launched DIY Commercial Lighting Program
• Completed several recruitments and promotions
– Lineman / Foreman
– Administrative Assistant
– Electric Utility Technician
– Key Accounts & Customer Programs Specialist
• Removed over 30 hazardous trees at Legion Park
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AGENDA ITEM G.5
COUNCIL COMMUNICATION
AGENDA TITLE:
Provide Direction to Staff on the Improvement Deferral Agreement at 1230 South Central Avenue (Lodi Academy) (PW)
MEETING DATE:
March 18, 2026
PREPARED BY:
Sean Nathan, Interim Public Works Director
RECOMMENDED ACTION:
Provide direction to staff on the Improvement Deferral Agreement at 1230 South Central Avenue.
BACKGROUND INFORMATION:
Chapter 15.44 of the Lodi Municipal Code (LMC) requires property owners to complete the installation and/or repairs of public improvements along their frontage as a condition of the issuance of a building permit or development approval.
In 1986, the owner of the property located at 1230 South Central Avenue, Northern California Conference Association of the Seventh-Day Adventists (Lodi Academy), entered into an Improvement Deferral Agreement with the City in order to postpone the installation of required frontage improvements. The deferred improvements consisted of curb, gutter, sidewalk and landscaping along Cherokee Lane and Poplar Street.
This agreement stated that the improvements needed be completed when the adjacent property developed, or by December 31, 2000, whichever comes first.
Amendment No. 1 to the agreement was executed in January of 1996. This addendum incorporated the Cherokee Lane frontage improvements into the City’sCentral City Revitalization project and assessed the property through the Lodi Central City Revitalization Assessment District. This addendum also extended the deadline for the Poplar Street frontage improvements to December 31, 2010. Due to the economic downturn prior to the deadline, these improvements were not completed.
In 2016 Lodi Academy needed to make repairs to their gymnasium. The repairs were estimated to cost $700,000. In order to help the school spread out the costs of their required frontage improvements, the City agreed to continue to defer the Poplar Street frontage improvements an additional 10 years. Amendment No. 2 was executed in August of 2016, and set a new deadline for the deferred improvements to December 31, 2026, or at the request of the City (whichever occurs first).
In 2024, Lodi Academy submitted a building permit that exceeded the LMC threshold for requiring frontage improvements. That permit restarted discussions on the required Poplar Street improvements, and what (if any) of the improvements would the City allow to be deferred. That permit was never actually issued, and the City ultimately raised the LMC threshold in early 2026, which would have removed this permit’srequirement for the frontage improvements. However, with the December 31, 2026 deadline still approaching, Lodi City of Lodi Printed on 3/12/2026Page 1 of 2
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COUNCIL COMMUNICATION
Academy still desires a modification to the current deferral agreement terms.
On February 10, 2026, a letter was sent from Fred Bunch (the Lodi Academy representative) to Mayor Yepez requesting that the City split the cost of the improvements with the school. In that letter, the school estimated the total cost of the deferred improvements (curb, gutter and sidewalk) to be $355,000. Based on quotes that the school received, the sidewalk-only portion of that work is estimated to be between $45,000 - $62,500.
Staff recommends to uphold the LMC requirement that the property owner is responsible for the installation of their frontage improvements. Given that there have been multiple complaints in the past few year with regards to pedestrian safety in this general area, and that this is a school site, staff recommends requiring the sidewalk to be completed by the previously agreed-upon date (December 31, 2026), and allowing the curb and gutter requirement to be extended further (another 10 years) through an additional amendment to the agreement.
FISCAL IMPACT:
Not Applicable.
FUNDING AVAILABLE:
Not Applicable.
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AGENDA ITEM G.6
COUNCIL COMMUNICATION
AGENDA TITLE:
Receive Status Report on Non-Profit Fund Program Applications and Allocations Approved to Date (CLK) MEETING DATE:
March 18, 2026
PREPARED BY:
Olivia Nashed, City Clerk
RECOMMENDED ACTION:
Receive status report and presentation on the status of the Non-Profit Fund Program, including applications received and allocations approved to date.
BACKGROUND INFORMATION:
On June 4, 2025, as part of the Fiscal Year (“FY”)2025-2026 annual budget, the City Council voted to add $100,000 to the City Council budget. These funds are evenly distributed among the five Council Members, giving each member $20,000 to support non-profits that benefit the Lodi community.
On July 2, 2025, the City Council adopted Resolution No. 2025-120, approving the Non-Profit Fund Policy as shown in Attachment 1 (“Policy”).The Policy outlines the process and guidelines for submitting Proposal Letters from non-profit organizations, review and recommendations of allocations and final approval by Council Members and the full City Council. The Policy also requires the City Clerk to provide regular updates to the City Council, regarding the status of the program.
The attached PowerPoint provides a status update on the following components of the program:
§ Applications submitted to the City Clerk’s Office
§ Applications approved by the City Council
§ Funding allocations approved by the City Council
§ Funding available to allocate by June 30, 2026
§ Recommendations for the program for future years
FISCAL IMPACT:
There is no fiscal impact with this report.
FUNDING AVAILABLE:
Not applicable.
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Non-Profit Fund Program Status Report
Presented by City Clerk Olivia Nashed
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BACKGROUND:
On June 4, 2025, as part of the Fiscal Year (“FY”) 2025-2026 annual budget, the City Council voted to add $100,000 to the City Council budget. These funds are evenly distributed among the five Council Members, giving each District $20,000 to support non-profits that benefit the Lodi community. On July 2, 2025, the City Council adopted Resolution No. 2025-120, approving the Non-Profit Fund Policy (“Policy”) . The Policy outlines the process and guidelines for submitting Proposal Letters from non-profit organizations, review and recommendations of allocations and final approval by Council Members and the full City Council.
The City Clerk’s Office will provide an update regarding proposals received and allocations made during FY 2025-2026, as well as recommendations for FY 2026-2027.
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PROPOSALS RECEIVED:
The City Clerk’s Office received and reviewed a total of fifteen (15) proposal letters:
T welve (12) were found in compliance with the Policy and were forwarded to the City Council for consideration.
One (1) was notified that their proposal was missing information, to which the City Clerk’s Office did not receive a response. One (1) was found not in compliance with the Policy.
One (1) was withdrawn.
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PROPOSAL LETTERS RECEIVED AND REQUESTED FUNDING:
180 T een Center – $10,0000
Boys and Girls Club – $10,000
Child Abuse Prevention Center -
$10,000
Community Partnership for Families of
San Joaquin - $20,750
Grace and Mercy - $20,000
Leadership Lodi - $14,000
Lodi House – $11,100
Lodi Sister City - $15,870
LOEL Senior Center - $20,000
Love Lodi - $20,000
TLE Alliance - $2,000
Women of Color on the Move - $20,000
WOW Museum - $9,990
Wrestling Booster Club of T okay High -
$5,000
Y our Kidney, My Kidney, Our Kidney
(YMO) - $10,000
T otal Funding Requested: $198,710
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ALLOCATIONS BY THE CITY COUNCIL:
District 1:
1. Lodi Sister City: $15,870
2. Boys and Girls Club: $4,130
District 2:
1. Community Partnership for Families of San Joaquin: $12,500
2. Love Lodi: $7,500
District 3: No allocations to date
District 4:
1. Community Partnership for Families of San Joaquin: $6,000 District 5:
1. TLE Alliance: $2,000
2. Wrestling Booster Club of T okay High: $5,000
T otal Allocations: $53,000 of $100,000
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REMAINING FUNDS AVAILABLE:
District 1: None – All funds have been allocated.
District 2: None – All funds have been allocated.
District 3: $20,000
District 4: $14,000
District 5: $13,000
T otal remaining funds available: $47,000
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REQUIRED REPORTING
Per the Policy, the Non-Profits which have received allocations from the Non-Profit Fund program are required to provide regular reporting to the City Clerk’s Office on the utilization of the funds they were allocated.
At this time, the City Clerk’s Office does not yet have reports to share from the Non- Profits, however, a update on the Non-Profit groups’ activities is planned for June 2026.
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RECOMMENDATIONS FOR FY 2026-2027
Hosting a workshop to provide opportunity for all non- profits to attend in-person or virtually to learn more
about the program, ask any questions or address any
concerns they may have.
Creating a webpage on the City’s website that provides a link to the Policy and a snapshot of applications received and their status, to create a greater transparency to the non-profits, residents and Council.
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