Title
Approval of Department of Public Utilities Budget for Fiscal Year 2018
Recommended Action
I move that the Board of Public Utilities approve the Department of Public Utilities Fiscal Year 2018 budget as presented and forward to Council for adoption.
Staff Recommendation
Staff recommends approval of Fiscal Year 2018 budget as presented.
Body
Attached is the proposed budget for fiscal year 2018. The only changes from the February presentation are as follow.
· A budget summary by expenditure category has been added.
· Analysis of cash balance projections compared with financial policy targets has been added to the ten-year forecasts.
· A residential rate history has been included, as well as a summary of total customer’s utilities costs projections compared to projected median household income incorporating planned rate adjustments and projected consumption quantities.
· All Funds: Administrative Allocation has been updated.
· All Funds: Vehicle IDCs were revised for all funds.
· EP FF: DOE Revenues adjusted after finalization of Power Pool budget, reduced by $1,797,032.
· EP FF: Economy Sales Revenues adjusted after finalization of Power Pool budget, increased by $381,341.
· EP FF: El Vado Generation now includes $25,000 for a student & approx $19,300 + benefits for double-fill.
· EP FF: Adjusted Load Control to include $246,000 NERC CIP costs that were originally in FY18 but removed in previous proposed budget.
· EP FF: Added $5000 back in to PNM Transmission costs; originally in FY18 but removed in previous proposed budget.
· EP FF: Purchased Power was adjusted closer to original FY18 budget; it is still lower, but higher than what was in February's proposed budget, increased $1,394,592 to accommodate revised LANL load forecast.
· EP FF: Debt service was not entered in FY16 actuals.
· EP FF: Property/In lieu taxes were updated with correct # from Finance (lower than February), $2,945 reduction.
· EP FF: Insurance had an error in Feb. vers...
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