Title
Discussion and possible action for revisions to Quarterly and Annual Department Reports and Quarterly Conservation Reports
Recommended Action
I move that the Board of Public Utilities direct staff to revise ________ reports.
Utilities Manager's Recommendation
Utilities Manager will support the Board's direction on this topic.
Body
BPU Procedural Rule 4.5 lists the minimum reporting requirements for both the Annual and Quarterly Reports. The Quarterly Conservation Reports while not formally documented in the Procedural Rules, also follows this same reporting period. Procedural Rule 4.5 is copied below:
4.5. Annual and Quarterly Financial Reports a. The Utilities Manager shall prepare and provide to the BPU an audited annual financial report as of the end of the previous fiscal year of each utility and of the department. 1) The annual financial report shall adhere to generally accepted accounting principles as promulgated by the Governmental Accounting Standards Board and the Financial Accounting Standards Board as applicable. 2) The annual financial report shall be audited by one or more independent auditors; this may be accomplished as part of the audit of the County’s Annual Comprehensive Financial Report. 3) The annual report shall be provided for BPU information at the March BPU meeting. 4) The accepted annual report shall be suitably summarized and formatted then provided to the County Council and made available to the public on the DPU website. b. The Utilities Manager shall prepare quarterly DPU performance reports. 1) Each quarterly report should include information about capital projects, operational and financial performance, and DPU highlights during the previous quarter. The operational and financial performance reports should include data for the previous quarters of the fiscal year plus cumulative totals. 2) Quarterly reports shall be provided to the BPU and the County Council and made available to the public on the DPU website.
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