NOTICE OF REGULAR MEETING
CITY OF ALAMEDA PUBLIC UTILITIES BOARD
Alameda Municipal Power Service Center 2000 Grand Street, Conference Room A/B (Corner of Clement Avenue) Alameda, CA 94501
Monday, June 21, 2021 at 5:00 P.M.
Notice: Due to Governor Newsom’s Executive Order N-29-20, Board members can attend the meeting via teleconference. Members of the public can follow the meeting via web (https://bit.ly/2Th13B9) and teleconference (+1 510-358-3865 Conference ID: 594 746 744#) and address the Public Utilities Board during the meeting via email ([email protected]) or via live comments during the web/teleconference. For those participating via the web application, attendees can use the raise hand icon to indicate they are requesting the opportunity to make live comments. For those attendees who are calling in via telephone only, the Clerk will advise them when to unmute themselves. Comments submitted during the meeting will be read into the record (subject to speaker time limits). Comments submitted prior to the meeting will be included in the meeting record. Comments submitted through the Microsoft Teams meeting chat window will not be monitored. Any requests for reasonable accommodations from individuals with disabilities should be made by contacting Alameda Municipal Power at [email protected]. The Alameda Municipal Power Service Center will be NOT be open to the public during the meeting.
1. ROLL CALL
2. ORAL COMMUNICATIONS - NONAGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
3. SPECIAL PRESENTATION
4. CONSENT CALENDAR Consent Calendar items are considered routine and will be enacted, approved or adopted by one motion unless a request for removal for discussion or explanation is received from the Board or a member of the public.
4.I. A. Minutes Of The May 17, 2021 Regular Meeting Of The City Of Alameda Public Utilities Board
Documents:
CONSENT CALENDAR ITEM A.PDF
4.I.i. B. Listing Of Bills Paid – May 2021
Documents:
CONSENT CALENDAR ITEM B.PDF
4.I.ii. C. Financial Report – April 2021
Documents:
CONSENT CALENDAR ITEM C.PDF
4.I.iii. D. Treasurer’s Report For The Month Ending April 30, 2021
Documents:
CONSENT CALENDAR ITEM D.PDF
4.I.iv. E. Adopt Resolution Approving A Budget Policy For Alameda Municipal Power With An Effective Date Of July 1, 2021.
Documents:
CONSENT CALENDAR ITEM E.PDF
4.I.v. F. Adopt Resolution Approving An Investment Policy For Fiscal Year 2022 And Delegating Investment Authority Per The Investment Policy To The General Manager Of Alameda Municipal Power Or His Designee.
Documents:
CONSENT CALENDAR ITEM F.PDF
4.I.vi. G. By Motion, Authorize A Second Amendment To Service Provider Agreement PS 5-17-01 With Felicia Ann Illustration & Design For Bill Inserts And Miscellaneous Design Services, Extending The Term Through June 30, 2022, Updating The Scope Of Services, And Increasing The Compensation By An Amount Not-To-Exceed $40,000 For A Total Compensation Amount Under The Agreement Which Is Not-To- Exceed $114,000.
Documents:
CONSENT CALENDAR ITEM G.PDF
4.I.vii. H. By Motion, Requiring Four-Fifths Vote, Authorize The General Manager To Sole Source The Purchase Of Landis+Gyr Advanced Metering Infrastructure Meter Equipment From Carlson Sales Solutions, LLC In An Amount Not To Exceed $208,700.
Documents:
CONSENT CALENDAR ITEM H.PDF
4.I.viii. I. By Resolution, Commend Ann L. McCormick For Her Tenure And Distinguished Service To The Public Utilities Board.
Documents:
CONSENT CALENDAR ITEM I.PDF
5. AGENDA ITEMS
5.I. A. Adopt Separate Resolutions Establishing The Fiscal Year 2022 Budget, Including Delegating Authority For Implementing And Managing The Budget To The General Manager Of Alameda Municipal Power Or His Designee; Or In The Event That The Public Utilities Board Elects To Postpone Adopting The Fiscal Year 2022 Budget, Adopt An Emergency Spending Authorization.
Documents:
AGENDA ITEM A.PDF
6. GENERAL MANAGER'S REPORT
6.I. A. General Manager’s Report – May 2021
Documents:
GENERAL MANAGER REPORT.PDF
7. COUNCIL COMMUNICATIONS
8. BOARD COMMUNICATIONS
9. ORAL COMMUNICATIONS - NON AGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
10. ADJOURNMENT
l Each member of the public who wishes to speak is afforded up to 5 minutes per agenda item, which may be increased or limited by the presiding officer. l Sign language interpreters will be available on request. Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours before the meeting to request an interpreter. l Accessible seating for persons with disability (including those using wheelchairs) is available. l Minutes of the meeting are available in enlarged print. l Audiotapes of the meeting are available upon request. l Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours prior to the meeting to request agenda materials in an alternative format, or any other reasonable accommodation that may be necessary to participate in and enjoy the benefits of the meeting.
Documents related to this agenda are available for public inspection and copying at Alameda Municipal Power’s Service Center – 2000 Grand Street during office hours.
Know Your Rights Under the Sunshine Ordinance
Government’s duty is to serve the public, reaching its decisions in full view of the public.
Commissions, boards, councils and other agencies of the City of Alameda exist to conduct the citizen of Alameda’s business. This ordinance assures that deliberations are conducted before the people and that City operations are open to the people’s review.
For more information on your rights under the sunshine ordinance or to report a violation of the ordinance, contact the Open Government Commission:
l 2263 Santa Clara Avenue Room 380 Alameda, CA, 94501 l Phone: 510-747-4800 l Fax: 510-865-4048 l EMAIL CITY CLERK LARA WEISIGER
In order to assist the City’s efforts to accommodate persons with severe allergies, environmental illnesses, multiple chemical sensitivity or related disabilities, attendees at public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City accommodate these individuals.
[Section 2-91.13 (d) - Sunshine Ordinance] NOTICE OF REGULAR MEETING
CITY OF ALAMEDA PUBLIC UTILITIES BOARD
Alameda Municipal Power Service Center 2000 Grand Street, Conference Room A/B (Corner of Clement Avenue) Alameda, CA 94501
Monday, June 21, 2021 at 5:00 P.M.
Notice: Due to Governor Newsom’s Executive Order N-29-20, Board members can attend the meeting via teleconference. Members of the public can follow the meeting via web (https://bit.ly/2Th13B9) and teleconference (+1 510-358-3865 Conference ID: 594 746 744#) and address the Public Utilities Board during the meeting via email ([email protected]) or via live comments during the web/teleconference. For those participating via the web application, attendees can use the raise hand icon to indicate they are requesting the opportunity to make live comments. For those attendees who are calling in via telephone only, the Clerk will advise them when to unmute themselves. Comments submitted during the meeting will be read into the record (subject to speaker time limits). Comments submitted prior to the meeting will be included in the meeting record. Comments submitted through the Microsoft Teams meeting chat window will not be monitored. Any requests for reasonable accommodations from individuals with disabilities should be made by contacting Alameda Municipal Power at [email protected]. The Alameda Municipal Power Service Center will be NOT be open to the public during the meeting.
1. ROLL CALL
2. ORAL COMMUNICATIONS - NONAGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
3. SPECIAL PRESENTATION
4. CONSENT CALENDAR Consent Calendar items are considered routine and will be enacted, approved or adopted by one motion unless a request for removal for discussion or explanation is received from the Board or a member of the public.
4.I. A. Minutes Of The May 17, 2021 Regular Meeting Of The City Of Alameda Public Utilities Board
Documents:
CONSENT CALENDAR ITEM A.PDF
4.I.i. B. Listing Of Bills Paid – May 2021
Documents:
CONSENT CALENDAR ITEM B.PDF
4.I.ii. C. Financial Report – April 2021
Documents:
CONSENT CALENDAR ITEM C.PDF
4.I.iii. D. Treasurer’s Report For The Month Ending April 30, 2021
Documents:
CONSENT CALENDAR ITEM D.PDF
4.I.iv. E. Adopt Resolution Approving A Budget Policy For Alameda Municipal Power With An Effective Date Of July 1, 2021.
Documents:
CONSENT CALENDAR ITEM E.PDF
4.I.v. F. Adopt Resolution Approving An Investment Policy For Fiscal Year 2022 And Delegating Investment Authority Per The Investment Policy To The General Manager Of Alameda Municipal Power Or His Designee.
Documents:
CONSENT CALENDAR ITEM F.PDF
4.I.vi. G. By Motion, Authorize A Second Amendment To Service Provider Agreement PS 5-17-01 With Felicia Ann Illustration & Design For Bill Inserts And Miscellaneous Design Services, Extending The Term Through June 30, 2022, Updating The Scope Of Services, And Increasing The Compensation By An Amount Not-To-Exceed $40,000 For A Total Compensation Amount Under The Agreement Which Is Not-To- Exceed $114,000.
Documents:
CONSENT CALENDAR ITEM G.PDF
4.I.vii. H. By Motion, Requiring Four-Fifths Vote, Authorize The General Manager To Sole Source The Purchase Of Landis+Gyr Advanced Metering Infrastructure Meter Equipment From Carlson Sales Solutions, LLC In An Amount Not To Exceed $208,700.
Documents:
CONSENT CALENDAR ITEM H.PDF
4.I.viii. I. By Resolution, Commend Ann L. McCormick For Her Tenure And Distinguished Service To The Public Utilities Board.
Documents:
CONSENT CALENDAR ITEM I.PDF
5. AGENDA ITEMS
5.I. A. Adopt Separate Resolutions Establishing The Fiscal Year 2022 Budget, Including Delegating Authority For Implementing And Managing The Budget To The General Manager Of Alameda Municipal Power Or His Designee; Or In The Event That The Public Utilities Board Elects To Postpone Adopting The Fiscal Year 2022 Budget, Adopt An Emergency Spending Authorization.
Documents:
AGENDA ITEM A.PDF
6. GENERAL MANAGER'S REPORT
6.I. A. General Manager’s Report – May 2021
Documents:
GENERAL MANAGER REPORT.PDF
7. COUNCIL COMMUNICATIONS
8. BOARD COMMUNICATIONS
9. ORAL COMMUNICATIONS - NON AGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
10. ADJOURNMENT
l Each member of the public who wishes to speak is afforded up to 5 minutes per agenda item, which may be increased or limited by the presiding officer. l Sign language interpreters will be available on request. Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours before the meeting to request an interpreter. l Accessible seating for persons with disability (including those using wheelchairs) is available. l Minutes of the meeting are available in enlarged print. l Audiotapes of the meeting are available upon request. l Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours prior to the meeting to request agenda materials in an alternative format, or any other reasonable accommodation that may be necessary to participate in and enjoy the benefits of the meeting.
Documents related to this agenda are available for public inspection and copying at Alameda Municipal Power’s Service Center – 2000 Grand Street during office hours.
Know Your Rights Under the Sunshine Ordinance
Government’s duty is to serve the public, reaching its decisions in full view of the public.
Commissions, boards, councils and other agencies of the City of Alameda exist to conduct the citizen of Alameda’s business. This ordinance assures that deliberations are conducted before the people and that City operations are open to the people’s review.
For more information on your rights under the sunshine ordinance or to report a violation of the ordinance, contact the Open Government Commission:
l 2263 Santa Clara Avenue Room 380 Alameda, CA, 94501 l Phone: 510-747-4800 l Fax: 510-865-4048 l EMAIL CITY CLERK LARA WEISIGER
In order to assist the City’s efforts to accommodate persons with severe allergies, environmental illnesses, multiple chemical sensitivity or related disabilities, attendees at public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City accommodate these individuals.
[Section 2-91.13 (d) - Sunshine Ordinance] NOTICE OF REGULAR MEETING
CITY OF ALAMEDA PUBLIC UTILITIES BOARD
Alameda Municipal Power Service Center 2000 Grand Street, Conference Room A/B (Corner of Clement Avenue) Alameda, CA 94501
Monday, June 21, 2021 at 5:00 P.M.
Notice: Due to Governor Newsom’s Executive Order N-29-20, Board members can attend the meeting via teleconference. Members of the public can follow the meeting via web (https://bit.ly/2Th13B9) and teleconference (+1 510-358-3865 Conference ID: 594 746 744#) and address the Public Utilities Board during the meeting via email ([email protected]) or via live comments during the web/teleconference. For those participating via the web application, attendees can use the raise hand icon to indicate they are requesting the opportunity to make live comments. For those attendees who are calling in via telephone only, the Clerk will advise them when to unmute themselves. Comments submitted during the meeting will be read into the record (subject to speaker time limits). Comments submitted prior to the meeting will be included in the meeting record. Comments submitted through the Microsoft Teams meeting chat window will not be monitored. Any requests for reasonable accommodations from individuals with disabilities should be made by contacting Alameda Municipal Power at [email protected]. The Alameda Municipal Power Service Center will be NOT be open to the public during the meeting.
1. ROLL CALL
2. ORAL COMMUNICATIONS - NONAGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
3. SPECIAL PRESENTATION
4. CONSENT CALENDAR Consent Calendar items are considered routine and will be enacted, approved or adopted by one motion unless a request for removal for discussion or explanation is received from the Board or a member of the public.
4.I. A. Minutes Of The May 17, 2021 Regular Meeting Of The City Of Alameda Public Utilities Board
Documents:
CONSENT CALENDAR ITEM A.PDF
4.I.i. B. Listing Of Bills Paid – May 2021
Documents:
CONSENT CALENDAR ITEM B.PDF
4.I.ii. C. Financial Report – April 2021
Documents:
CONSENT CALENDAR ITEM C.PDF
4.I.iii. D. Treasurer’s Report For The Month Ending April 30, 2021
Documents:
CONSENT CALENDAR ITEM D.PDF
4.I.iv. E. Adopt Resolution Approving A Budget Policy For Alameda Municipal Power With An Effective Date Of July 1, 2021.
Documents:
CONSENT CALENDAR ITEM E.PDF
4.I.v. F. Adopt Resolution Approving An Investment Policy For Fiscal Year 2022 And Delegating Investment Authority Per The Investment Policy To The General Manager Of Alameda Municipal Power Or His Designee.
Documents:
CONSENT CALENDAR ITEM F.PDF
4.I.vi. G. By Motion, Authorize A Second Amendment To Service Provider Agreement PS 5-17-01 With Felicia Ann Illustration & Design For Bill Inserts And Miscellaneous Design Services, Extending The Term Through June 30, 2022, Updating The Scope Of Services, And Increasing The Compensation By An Amount Not-To-Exceed $40,000 For A Total Compensation Amount Under The Agreement Which Is Not-To- Exceed $114,000.
Documents:
CONSENT CALENDAR ITEM G.PDF
4.I.vii. H. By Motion, Requiring Four-Fifths Vote, Authorize The General Manager To Sole Source The Purchase Of Landis+Gyr Advanced Metering Infrastructure Meter Equipment From Carlson Sales Solutions, LLC In An Amount Not To Exceed $208,700.
Documents:
CONSENT CALENDAR ITEM H.PDF
4.I.viii. I. By Resolution, Commend Ann L. McCormick For Her Tenure And Distinguished Service To The Public Utilities Board.
Documents:
CONSENT CALENDAR ITEM I.PDF
5. AGENDA ITEMS
5.I. A. Adopt Separate Resolutions Establishing The Fiscal Year 2022 Budget, Including Delegating Authority For Implementing And Managing The Budget To The General Manager Of Alameda Municipal Power Or His Designee; Or In The Event That The Public Utilities Board Elects To Postpone Adopting The Fiscal Year 2022 Budget, Adopt An Emergency Spending Authorization.
Documents:
AGENDA ITEM A.PDF
6. GENERAL MANAGER'S REPORT
6.I. A. General Manager’s Report – May 2021
Documents:
GENERAL MANAGER REPORT.PDF
7. COUNCIL COMMUNICATIONS
8. BOARD COMMUNICATIONS
9. ORAL COMMUNICATIONS - NON AGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
10. ADJOURNMENT
l Each member of the public who wishes to speak is afforded up to 5 minutes per agenda item, which may be increased or limited by the presiding officer. l Sign language interpreters will be available on request. Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours before the meeting to request an interpreter. l Accessible seating for persons with disability (including those using wheelchairs) is available. l Minutes of the meeting are available in enlarged print. l Audiotapes of the meeting are available upon request. l Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours prior to the meeting to request agenda materials in an alternative format, or any other reasonable accommodation that may be necessary to participate in and enjoy the benefits of the meeting.
Documents related to this agenda are available for public inspection and copying at Alameda Municipal Power’s Service Center – 2000 Grand Street during office hours.
Know Your Rights Under the Sunshine Ordinance
Government’s duty is to serve the public, reaching its decisions in full view of the public.
Commissions, boards, councils and other agencies of the City of Alameda exist to conduct the citizen of Alameda’s business. This ordinance assures that deliberations are conducted before the people and that City operations are open to the people’s review.
For more information on your rights under the sunshine ordinance or to report a violation of the ordinance, contact the Open Government Commission:
l 2263 Santa Clara Avenue Room 380 Alameda, CA, 94501 l Phone: 510-747-4800 l Fax: 510-865-4048 l EMAIL CITY CLERK LARA WEISIGER
In order to assist the City’s efforts to accommodate persons with severe allergies, environmental illnesses, multiple chemical sensitivity or related disabilities, attendees at public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City accommodate these individuals.
[Section 2-91.13 (d) - Sunshine Ordinance] NOTICE OF REGULAR MEETING
CITY OF ALAMEDA PUBLIC UTILITIES BOARD
Alameda Municipal Power Service Center 2000 Grand Street, Conference Room A/B (Corner of Clement Avenue) Alameda, CA 94501
Monday, June 21, 2021 at 5:00 P.M.
Notice: Due to Governor Newsom’s Executive Order N-29-20, Board members can attend the meeting via teleconference. Members of the public can follow the meeting via web (https://bit.ly/2Th13B9) and teleconference (+1 510-358-3865 Conference ID: 594 746 744#) and address the Public Utilities Board during the meeting via email ([email protected]) or via live comments during the web/teleconference. For those participating via the web application, attendees can use the raise hand icon to indicate they are requesting the opportunity to make live comments. For those attendees who are calling in via telephone only, the Clerk will advise them when to unmute themselves. Comments submitted during the meeting will be read into the record (subject to speaker time limits). Comments submitted prior to the meeting will be included in the meeting record. Comments submitted through the Microsoft Teams meeting chat window will not be monitored. Any requests for reasonable accommodations from individuals with disabilities should be made by contacting Alameda Municipal Power at [email protected]. The Alameda Municipal Power Service Center will be NOT be open to the public during the meeting.
1. ROLL CALL
2. ORAL COMMUNICATIONS - NONAGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
3. SPECIAL PRESENTATION
4. CONSENT CALENDAR Consent Calendar items are considered routine and will be enacted, approved or adopted by one motion unless a request for removal for discussion or explanation is received from the Board or a member of the public.
4.I. A. Minutes Of The May 17, 2021 Regular Meeting Of The City Of Alameda Public Utilities Board
Documents:
CONSENT CALENDAR ITEM A.PDF
4.I.i. B. Listing Of Bills Paid – May 2021
Documents:
CONSENT CALENDAR ITEM B.PDF
4.I.ii. C. Financial Report – April 2021
Documents:
CONSENT CALENDAR ITEM C.PDF
4.I.iii. D. Treasurer’s Report For The Month Ending April 30, 2021
Documents:
CONSENT CALENDAR ITEM D.PDF
4.I.iv. E. Adopt Resolution Approving A Budget Policy For Alameda Municipal Power With An Effective Date Of July 1, 2021.
Documents:
CONSENT CALENDAR ITEM E.PDF
4.I.v. F. Adopt Resolution Approving An Investment Policy For Fiscal Year 2022 And Delegating Investment Authority Per The Investment Policy To The General Manager Of Alameda Municipal Power Or His Designee.
Documents:
CONSENT CALENDAR ITEM F.PDF
4.I.vi. G. By Motion, Authorize A Second Amendment To Service Provider Agreement PS 5-17-01 With Felicia Ann Illustration & Design For Bill Inserts And Miscellaneous Design Services, Extending The Term Through June 30, 2022, Updating The Scope Of Services, And Increasing The Compensation By An Amount Not-To-Exceed $40,000 For A Total Compensation Amount Under The Agreement Which Is Not-To- Exceed $114,000.
Documents:
CONSENT CALENDAR ITEM G.PDF
4.I.vii. H. By Motion, Requiring Four-Fifths Vote, Authorize The General Manager To Sole Source The Purchase Of Landis+Gyr Advanced Metering Infrastructure Meter Equipment From Carlson Sales Solutions, LLC In An Amount Not To Exceed $208,700.
Documents:
CONSENT CALENDAR ITEM H.PDF
4.I.viii. I. By Resolution, Commend Ann L. McCormick For Her Tenure And Distinguished Service To The Public Utilities Board.
Documents:
CONSENT CALENDAR ITEM I.PDF
5. AGENDA ITEMS
5.I. A. Adopt Separate Resolutions Establishing The Fiscal Year 2022 Budget, Including Delegating Authority For Implementing And Managing The Budget To The General Manager Of Alameda Municipal Power Or His Designee; Or In The Event That The Public Utilities Board Elects To Postpone Adopting The Fiscal Year 2022 Budget, Adopt An Emergency Spending Authorization.
Documents:
AGENDA ITEM A.PDF
6. GENERAL MANAGER'S REPORT
6.I. A. General Manager’s Report – May 2021
Documents:
GENERAL MANAGER REPORT.PDF
7. COUNCIL COMMUNICATIONS
8. BOARD COMMUNICATIONS
9. ORAL COMMUNICATIONS - NON AGENDA (PUBLIC COMMENT) Members of the public are invited to address the Board on any subject related to the activities of Alameda Municipal Power not otherwise appearing on the Agenda.
10. ADJOURNMENT
l Each member of the public who wishes to speak is afforded up to 5 minutes per agenda item, which may be increased or limited by the presiding officer. l Sign language interpreters will be available on request. Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours before the meeting to request an interpreter. l Accessible seating for persons with disability (including those using wheelchairs) is available. l Minutes of the meeting are available in enlarged print. l Audiotapes of the meeting are available upon request. l Please contact Hayley Wise at 748-3908 or 522-7538 (TDD number) or EMAIL at least 72 hours prior to the meeting to request agenda materials in an alternative format, or any other reasonable accommodation that may be necessary to participate in and enjoy the benefits of the meeting.
Documents related to this agenda are available for public inspection and copying at Alameda Municipal Power’s Service Center – 2000 Grand Street during office hours.
Know Your Rights Under the Sunshine Ordinance
Government’s duty is to serve the public, reaching its decisions in full view of the public.
Commissions, boards, councils and other agencies of the City of Alameda exist to conduct the citizen of Alameda’s business. This ordinance assures that deliberations are conducted before the people and that City operations are open to the people’s review.
For more information on your rights under the sunshine ordinance or to report a violation of the ordinance, contact the Open Government Commission:
l 2263 Santa Clara Avenue Room 380 Alameda, CA, 94501 l Phone: 510-747-4800 l Fax: 510-865-4048 l EMAIL CITY CLERK LARA WEISIGER
In order to assist the City’s efforts to accommodate persons with severe allergies, environmental illnesses, multiple chemical sensitivity or related disabilities, attendees at public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City accommodate these individuals.
[Section 2-91.13 (d) - Sunshine Ordinance] AGENDA ITEM NO.: 4.A MEETING DATE: 06/21/2021
DRAFT MINUTES OF THE REGULAR MEETING CITY OF ALAMEDA PUBLIC UTILITIES BOARD MEETING
May 17, 2021
1. ROLL CALL
President McCormick called the meeting to order at 6 p.m. On roll call, the following commissioners were present: President McCormick, Commissioner Serventi, Commissioner Gould and City Manager Levitt. Commissioner Giuntini was absent.
2. ORAL COMMUNICATIONS – NON-AGENDA (Public Comment)
None.
3. SPECIAL PRESENTATION
None.
4. CONSENT CALENDAR
A1. Minutes–Special Meeting–April 19, 2021
A2. Minutes–Regular Meeting–April 19, 2021
B. Listing of Bills Paid–April 2021
C. Financial Report–March 2021
D. Treasurer’s Report for the Month Ending March 31, 2021
E. By Motion, Approve Changes to Alameda Municipal Power’s Wildfire Mitigation Plan
F. By Motion, Authorize the General Manager to Purchase a New Diesel Generator Set from Bay City Electric Works to Replace the Current Diesel Generator for Standby Emergency Backup Power at Alameda Municipal Power’s Service Center in an Amount Not to Exceed $35,000 Which Includes Sales Tax, Estimated Freight, and Contingency
G. By Motion, Requiring Four-Fifths Vote, Authorize the General Manager to Sole Source Service Provider Agreement PS 02-21-01 with Maze and Associates Accountancy Corporation for Audit Services for Fiscal Years 2021 and 2022 in an Amount Not to Exceed $47,025 in Fiscal Year 2021 and $47,966 in Fiscal Year 2022 for a Total Not to Exceed Amount of $94,991 for the Initial Two-Year Term with an Option to Extend the Contract for an Additional Three-Year Term H. By Motion, Recommend that City Council Adopt an All-Electric New Construction Ordinance
I. By Motion, Amend Existing Confirmation No. 0186, Increase Authorization to a Not- to-Exceed Amount of $200,000 and Extend Services Dates to Cover Fiscal Year 2021 and 2022 for Services from Flynn Resource Consultants Inc. Through the Northern California Power Agency Support Services Program
Commissioner Gould pulled item 4F from the consent calendar. With a motion from Commissioner Serventi and a second from Commissioner Gould, the Board unanimously approved the balance of the consent calendar.
Commissioner Gould said that purchasing a replacement diesel generator set for standby emergency backup power at AMP’s Service Center could send a message that AMP is not serious about electrification efforts.
President McCormick said that the resource would not be used except in case of an emergency when intermittent renewables or the grid are unavailable.
City Manager Levitt asked General Manager Procos to provide insight on why the item was being recommended.
General Manager Procos said the Service Center’s current emergency generator has reached the end of its useful life. The replacement generator would power the building during a power outage, allowing AMP to power critical processes and System Control operations. The System Control team, which is staffed 24 hours per day and seven days per week, monitors AMP’s electric system, he said.
AMP is extremely mindful of the direction from the city’s Climate Action and Resiliency Plan and AMP’s Strategic Plan, General Manager Procos said. Staff considered alternatives including natural gas and energy storage. Unfortunately, the costs of those options were significantly higher than the diesel alternative. The new unit is more efficient, and AMP will not run it often, he said.
Alameda resident Nick de Vries said that the use of a diesel generator would not align with AMP’s Strategic Plan, he said.
Rand Wrobel of Alameda said the purchase of the generator would be moving in the wrong direction.
Commissioner Serventi asked staff how much longer the current generator could function. General Manager Procos responded that the current generator is very low.
If AMP did not have back-up power for its System Control team, it would impact the utility’s ability to respond to outages, General Manager Procos added. It would also present a potential safety issue because the System Control team works closely with the line crews when they respond to outages.
President McCormick said she was more concerned about the reliability of the unit than the price. The generator is only to be used in the case of an emergency. She added that she hopes AMP can look toward other solutions in the future.
Commissioner Serventi said that he was concerned about the cost of alternative options for the unit. The amount of time the unit will be used is small, and we need to look at the entire facility longer-term, he said. In a couple years, energy storage could become much more affordable.
Commissioner Gould said that the purchase of a back-up diesel generator would not send the right signals.
With a motion from Commissioner Serventi and a second from City Manager Levitt, the Board approved the item 3-1 with Commissioner Gould dissenting.
5. AGENDA ITEMS
For Information Only, Provide an Update on the Requirements of California Assembly Bill 2514
Following the staff presentation, Alameda resident Nick de Vries said that battery storage needs to solve a problem. He asked the Board the following questions: Could a battery energy storage system in Alameda help flatten the peaks that we see season to season and hour to hour? Is there value in the ancillary services voltage support?
Commissioner Serventi asked staff the following question about storage and the Doolittle solar project: Would storage need to be done on site, or could it be located at another site?
Staff responded that there is probably not room on the landfill for storage. Second, it is not necessarily a good idea to put storage at the landfill for access considerations, he said.
Commissioner Serventi said AMP could study questions about storage location such as: Where is the best place to put storage? If we can develop enough storage at another location, can it be a back-up for AMP’s or the city’s facilities?
In response to Mr. de Vries’ questions, staff said that AMP’s 100% clean portfolio provides a bigger incentive for storage. AMP is keeping the following question in mind: How do you take advantage of the least-cost renewable resources?
In response to questions about flattening peaks, General Manager Procos said that Doolittle is a 2-megawatt project and the flexibility to move markets is limited. He addressed the topic of using large-scale storage to shift the peak. Local resiliency is very important, but the scale is going to be a challenge. AMP would need locations the size of football fields for storage that could provide resiliency to the island, he said. Still, AMP is studying this topic and will bring forward a future item on local resiliency.
The Board did not vote on the item because it was informational.
6. GENERAL MANAGER’S REPORT
A. General Manager’s Report–April 2021
General Manager Procos updated the Board on the California Independent System Operator’s (CAISO) 2021 summer readiness report. He also noted that there is movement at the state level to potentially approve relief programs for utility customers as part of the state budget.
7. COUNCIL COMMUNICATIONS
City Manager Levitt updated the board on the City Council’s budget sessions and its work to address issues in the areas of policing and homelessness.
8. BOARD COMMUNICATIONS
9. ORAL COMMUNICATIONS – NON-AGENDA (PUBLIC COMMENT)
10. ADJOURNMENT
President McCormick adjourned the meeting at 7 p.m.
AGENDA ITEM NO.: 4.B.1 MEETING DATE: 06/21/2021
Alameda, California From Check Date: 05/01/2021 - To Check Date: 05/31/2021 The following bills payable out of the Alameda Municipal Power funds were approved for payment. SUPPLIER DESCRIPTION AMOUNT NO. CALIF POWER AGENCY ALL POWER BILL-MAY(P) 2,836,405.00 ALAMEDA, CITY OF PAYROLL(A) 970,629.78 ALAMEDA, CITY OF TRANSFER TO GENERAL FUND(A) 401,200.00 ALAMEDA, CITY OF UTILITY TAX-MAY(A) 334,514.92 US BANK TRUST NA 2010A&B SERIES REVENUE BOND(A) 217,829.56 ALAMEDA, CITY OF PILOT & ROI CHARGES(A) 127,833.34 3 DEGREES, INC. ALAMEDA GREEN PGM(P) 30,940.74 CLEARESULT CONSULTING,INC. REBATES(P) 30,737.23 1835 ALAMEDA PROPERTY LLC LEASE-BLDG(A) 26,990.36 ANIXTER INC. ELECTRICAL SPLYS(I) 24,415.38 DATAPROSE, LLC. PRINTING SVCS(A) 17,383.40 DATAWAY, INC. RENEWAL(A) 16,428.00 THE ENGINEERING ENTERPRISE GENERATOR REPLACEMENT(A) 14,250.00 NORTHWEST LINEMAN COLLEGE TRAINING(O) 10,935.00 SYNERGY COMPANIES LED INSTALL(P) 10,478.00 US BANK IMPAC GOV SVCS CAL CARD PAYMENT(V) 8,680.02 FELICIA ANN BILL INSERTS(G) 8,062.50 ALAMEDA, CITY OF GASOLINE CHARGES(O) 6,770.26 ZONES, INC COMPUTER SPLYS(A) 6,278.06 GEC DURHAM INDUSTRIES INC ELECTRICAL SPLYS(I) 5,413.95 ONE SOURCE DISTRIBUTORS ELECTRICAL SPLYS(I) 5,075.51 WESTERN POWER TRADING FORUM MEMBERSHIP DUES(G) 5,000.00 8X8 INC COMPUTER SPLYS(A) 4,285.00 FARWEST LINE SPECIALTIES ELECTRICAL SPLYS(I) 4,013.89 AMERICAN REVENUE MGMT COMMISSIONS(C) 3,857.09 UNIVERSAL BLDG.SVCS.SPLY CO. JANITORIAL SVCS(A) 3,220.00 COOPER COMPLIANCE CORP CONSULTING SVCS(O) 3,020.00 AT&T PHONE SVCS(A) 2,821.24 LITHO PROCESS PRINTING SVCS(A) 2,540.72 DENNIS YU PANEL UPGRADE REBATE(P) 2,500.00 PAUL CHO PANEL UPGRADE REBATE(P) 2,500.00 TVC COMMUNICATIONS ELECTRICAL SPLYS(O) 2,279.09 EVERGREEN JOB & SAFE TRAIN INC TRAINING(O) 2,250.00 ALAMEDA, CITY OF UNEMPLOYMENT INSURANCE(A) 2,193.84 QUEST MEDIA & SUPPLIES INC CLOUD CONNECT SVC(A) 2,160.00 SPIEGAL & MCDIARMID LLP PROFESSIONAL SVCS(A) 2,103.75 HARRIS MODIFICATION(A) 1,976.67 LOTHAR WESTERWECK METER SOCKET REBATE(P) 1,500.00 GREAT AMERICA FINANCIAL SVCS. COPIER LEASE(A) 1,469.77 ALAMEDA, CITY OF AUDIT(A) 1,429.00 DAVID CHUI METER SOCKET REBATE(E) 1,396.00 CDW COMPUTER CENTERS INC COMPUTER SPLYS(A) 1,391.98 FORSTER & KROEGER LANDSCAPE LANDSCAPING SVCS(A) 1,200.00 VERIZON WIRELESS SERVICES, LLC DATA SVCS(A) 1,194.02 JEREMY D. WEINSTEIN LEGAL SVCS(A) 1,190.00 UNITED PARCEL SERVICES SHIPPING(A,M) 1,071.91 AGENDA ITEM NO.: 4.B.2 MEETING DATE: 06/21/2021
Alameda, California From Check Date: 05/01/2021 - To Check Date: 05/31/2021 The following bills payable out of the Alameda Municipal Power funds were approved for payment. SUPPLIER DESCRIPTION AMOUNT ALLEN D. BOTT, M.D. LEGAL SVCS(A) 1,050.20 QUADIENT, INC. MAINTENANCE(A) 1,047.75 DELBERT GEE REBATE(P) 1,000.00 NEW BASIS WEST, LLC. ELECTRICAL SPLYS(I) 959.27 TJ-H2B ANALYTICAL SERVICES TESTING SVCS(O) 958.00 SWIMS MAINTENANCE(A) 927.50 AIRGAS GAS(A) 830.52 E B M U D WATER CHARGES(A) 823.20 GRAINGER INC ELECTRICAL SPLYS(I) 804.79 CHRISTOPHER ELBO CHARGER REBATE(P) 800.00 JON MICHELS CHARGER REBATE(P) 800.00 MAGGIE CHOW CHARGER REBATE(P) 800.00 RICHARD LAVERDURE CHARGER REBATE(P) 800.00 IRMA JIMENEZ METER SOCKET REBATE(E) 800.00 TYLER SIV REBATE(P) 800.00 THYSSENKRUPP ELEVATOR MAINTENANCE(A) 762.57 TIMOTHY ERWIN METER SOCKET REBATE(E) 750.00 DAVID ORONOS METER SOCKET REBATE(P) 600.00 BLAISDELLS OFFICE SPLYS(V) 600.00 SMART UTILITY SOLUTIONS SYSTEM ADDITIONS(O) 590.00 SELECT FIRST AID & SAFETY FIRST AID SPLYS(O) 550.13 CALIF. UTILITIES EMER. ASSOC MEMBERSHIP DUES(O) 500.00 THE MENAGERIE ALAMEDA SPONSORSHIP(P) 500.00 BURLINGTON SAFETY LABORATORY TESTING SVCS(O) 465.00 R & S OVERHEAD GARAGE DOOR REPAIRS(A) 411.58 HANK REEKERS METER SOCKET REBATE(E) 400.00 PACIFIC GAS AND ELECTRIC PILOT WIRE OWNERSHIP FEE(A) 386.20 ALL ABOUT BACKFLOW BACKFLOW TEST(A) 330.00 RAINBOW TECHNOLOGY CORP ELECTRICAL SPLYS(I) 320.95 LEITZ, FREDERICK MEALS(O) 290.83 ALAMEDA, CITY OF FINGERPRINTING(O) 254.88 LAW OFFICES OF SUSIE BERLIN PROFESSIONAL SVCS(A) 234.00 JOSEPH ALLEGROTTI METER SOCKET REBATE(E) 200.00 SALLY RUDLOFF METER SOCKET REBATE(E) 197.00 ALAMEDA ELECTRICAL DISTR. ELECTRICAL SPLYS(I) 190.42 NAGRAMPA, TITO EXPENSE REIMB(O) 180.00 JOHNSON CONTROLS SECURITY SOL. ALARM MONITORING(A) 178.25 MOOD MEDIA MONTHLY COST(M) 172.34 LUISA MARIN METER SOCKET REBATE(E) 171.00 TIM PRATT METER SOCKET REBATE(E) 170.00 MAX GONZALEZ MEALS(O) 169.24 DAVID CHRISTY METER SOCKET REBATE(E) 147.00 GENE MAHR METER SOCKET REBATE(E) 147.00 ADVANCED INTEGRATED PEST MGMT PEST CONTROL(A) 125.00 INTRADO INTERACTIVE SVC.CO. USAGE(A) 121.20 AGENDA ITEM NO.: 4.B.3 MEETING DATE: 06/21/2021
Alameda, California From Check Date: 05/01/2021 - To Check Date: 05/31/2021 The following bills payable out of the Alameda Municipal Power funds were approved for payment. SUPPLIER DESCRIPTION AMOUNT ALAMEDA, CITY OF PHYSICALS(O) 120.00 KAISER FOUNDATION HEALTH PLAN PHYSICALS(O) 115.00 ALTEC INDUSTRIES, INC. ELECTRICAL SPLYS(O) 114.49 LIEBERT CASSIDY WHITMORE PROFESSIONAL SVCS(A) 114.00 EAST BAY BLUEPRINT & SUPPLY PRINTING SVCS(E) 88.10 NO CALIFORNIA JT POLE ASSO MONTHLY ASSESSMENT(O) 68.41 ROSS NATON MEALS(O) 60.19 ANDRE BASLER EXPENSE REIMB(O) 59.97 PAGANO'S HARDWARE MART HARDWARE(V) 42.78 ERIK RIVERA MEALS(O) 32.00 MICHAEL SHERMAN MEALS(O) 30.17 MARK REGAN MEALS(O) 30.13 JUAN HERRERA MEALS(O) 26.33 BAY STAMP & ENGRAVING LLC ENGRAVING SVCS(M) 21.01 ABAG GAS CHARGES(A) 17.06 5,194,070.44
The above claims in the amount of $5,194,070.44 have been examined, certified correct, and approved for payment by the secretary of the Public Utilities Board.
______/S/
Secretary of the Public Utilities Board AGENDA ITEM NO: 4.C.1 MEETING DATE: 06/21/2021
Monthly Financial Report
with data through April 2021 (Unaudited)
The data contained in this report has not been independently audited.
AGENDA ITEM NO: 4.C.2 MEETING DATE: 06/21/2021 Alameda Municipal Power Financial Report With Supporting Documentation For the Month of April 2021
Table of Contents
Management Summary ...... 3 Financial Summary of Selected Totals ...... 4 Revenue Graphs ...... 5 Expense Graphs ...... 6 Gross Earning, Wage & Benefits Graphs ...... 7 Purchased Power Billing From Northern California Power Agency ...... 8 Analysis of Capital Spending ...... 9 Special Revenue Summary ...... 10
Financial Reports In Detail ...... 11
Financial Notes ...... 12 Monthly & Year To Date (YTD) Performance Versus Budget ...... 13 Monthly & YTD Performance Versus Last Year’s Actual...... 14 Balance Sheet ...... 15-16 Statement of Cash Flow ...... 17 Utility Plant Detail ...... 18 Electric Non-Power Costs Analysis/Balancing Account Update ...... 19
AGENDA ITEM NO: 4.C.3 MEETING DATE: 06/21/2021
MANAGEMENT SUMMARY
AGENDA ITEM NO: 4.C.4 MEETING DATE: 06/21/2021
Alameda Municipal Power Financial Summary of Selected Totals For Fiscal Year (FY) 2021 Year to Date as of April 2021
Over/Under % Change Over/Under % Change YTD Actual FY2021 Budget Budget with Budget Prior Year Prior Yr with Prior Yr Prorated YTD Actual Electric Sales (KWH): 282,024,256 290,448,853 (8,424,597) -2.9% 291,311,165 (9,286,909) -3.2% Residential (D1 & D2) 118,773,766 108,381,134 10,392,632 9.6% 109,404,122 9,369,644 8.6% General Service (A1) 36,401,119 42,505,448 (6,104,329) -14.4% 45,666,030 (9,264,911) -20.3% Demand Metered (A2 &A3) 115,572,214 128,110,822 (12,538,608) -9.8% 123,926,418 (8,354,204) -6.7% Municipal & Other ( M1, M2, M3, OL & CT) 11,277,157 11,451,448 (174,291) -1.5% 12,314,595 (1,037,438) -8.4% Commercial & Industrial 151,973,333 170,616,270 (18,642,937) -10.9% 169,592,448 (17,619,115) -10.4%
Electric Revenue - see 4.C.13 & 14 for Income Statement 54,688,121 55,061,514 (373,393) -0.7% 56,659,516 (1,971,395) -3.5% Residential (D1 & D2) 23,825,309 21,407,777 2,417,532 11.3% 21,764,627 2,060,682 9.5% General Service (A1) 7,580,665 8,696,272 (1,115,608) -12.8% 9,258,429 (1,677,764) -18.1% Demand Metered (A2 &A3) 19,018,957 20,438,089 (1,419,132) -6.9% 20,160,953 (1,141,996) -5.7% Municipal & Other ( M1, M2, M3, OL & CT) 2,145,642 2,148,512 (2,870) -0.1% 2,344,735 (199,093) -8.5% Solar Rebate Surcharge - - - N/A - - N/A Energy Adjustment Revenue - - - N/A 18,004 (18,004) -100.0% Other Operating Revenue 141,856 331,458 (189,602) -57.2% 332,166 (190,309) -57.3% Revenue from REC*, Cap&Trade & LCFS** Credit Sale 1,924,926 2,025,222 (100,296) -5.0% 2,724,920 (799,994) -29.4% Alameda Point Telephone 50,766 14,184 36,582 257.9% 55,682 (4,916) -8.8% Electric Sales 52,570,572 52,690,650 (120,078) -0.2% 53,528,744 (958,171) -1.8%
Electric Operating & Non-Operating expenses - see 4.C.13 & 14 for Income Statement (47,695,637) (55,680,883) 7,974,347 -14.3% (50,163,343) 2,467,706 -4.9% Purchased Power (25,349,627) (27,832,746) 2,483,119 -8.9% (27,342,136) 1,992,509 -7.3% Customer Programs & Services (3,456,835) (4,678,845) 1,222,010 -26.1% (3,198,948) (257,888) 8.1% Operations & Maintenance (4,142,352) (6,220,977) 2,078,625 -33.4% (4,001,997) (140,355) 3.5% Administration (5,755,218) (8,232,638) 2,477,421 -30.1% (7,458,692) 1,703,475 -22.8% Expenses Funded by Special Revenue (602,415) (1,563,698) 961,283 -61.5% (721,255) 118,840 -16.5% Depreciation & Amortization (3,266,998) (2,833,333) (433,665) 15.3% (3,184,233) (82,765.77) 2.6% Other Nonoperating Revenue (Expenses)-Net 767,838 1,329,866 (562,028) -42.3% 1,694,599 (926,761) -54.7% Debt Related Charges (999,296) (999,548) 251 0.0% (1,061,489) 62,193 -5.9% PILOT*** & City Transfer (4,889,133) (4,636,464) (252,669) 5.4% (4,885,985) (3,148) 0.1% Alameda Point Telephone (1,599) (12,500) 10,900 -87.2% (3,207) 1,607.96 -50.1%
Operating expenses excluding Purch power, depreciation (13,956,820) (20,696,159) 6,739,339 -32.6% (15,380,892) 1,424,072 -9.3% Electric Net Income (Loss) - See 4.C.13 & 14 6,992,484 (619,370) 7,611,854 -1229.0% 6,496,173 496,311 7.6%
* REC - Renewable Energy Credits ** LCFS - Low Carbon Fuel Standard *** PILOT - Payment in Lieu of Taxes AGENDA ITEM NO: 4.C.5 MEETING DATE: 06/21/2021
$60,000,000 55,061,514 54,688,121
$50,000,000
$40,000,000
$30,000,000 23,825,309 20,438,089 21,407,777 19,018,957 $20,000,000
8,696,272 $10,000,000 7,580,665 2,148,512 1,924,926 2,145,642 331,458 2,025,222 141,856 $0 General Service Demand Metered Solar Surcharge & REC/Cap&Trade Revenue Total Residential Municipal (A1) (A2 &A3) Other Oper. Rev Revenue FY2021 Budget 55,061,514 21,407,777 8,696,272 20,438,089 2,148,512 331,458 2,025,222 FY2021 Actual 54,688,121 23,825,309 7,580,665 19,018,957 2,145,642 141,856 1,924,926
Electric Revenue through April 2021 FY2021 Budget FY2021 Actual
350,000,000
290,448,853 300,000,000 282,024,256
250,000,000
200,000,000
150,000,000 118,773,766 128,110,822 115,572,214 108,381,134 100,000,000
42,505,448 50,000,000 36,401,119 11,451,448 11,277,157
0 Demand Metered (A2 KWH total Residential General Service (A1) Municipal &A3) FY2021 Budget 290,448,853 108,381,134 42,505,448 128,110,822 11,451,448 FY2021 Actual 282,024,256 118,773,766 36,401,119 115,572,214 11,277,157
Electric Sales (KWh) through April 2021 FY2021 Budget FY2021 Actual AGENDA ITEM NO:4.C.6 MEETING DATE: 06/21/2021
27,832,746 $30,000,000 25,349,627
$25,000,000
$20,000,000
$15,000,000
8,232,638 $10,000,000 5,755,218 4,678,845 6,220,977 4,636,464 4,889,133 3,456,835 4,142,352 $5,000,000 1,563,698 999,548 602,415 999,296 $0 Customer Exp. Funded Operations & Purchased Debt Related PILOT & City Administration Programs & by Special Maintenance power Charges Transfer Services Rev FY2021 Budget 8,232,638 4,678,845 6,220,977 1,563,698 27,832,746 999,548 4,636,464 FY2021 Actual 5,755,218 3,456,835 4,142,352 602,415 25,349,627 999,296 4,889,133
Electric Expense through April 2021 FY2021 Budget FY2021 Actual
$12,000,000
$9,706,624 $10,000,000 $8,807,750
$7,623,024 $8,000,000
(1) Labor $7,623,024 $6,000,000 $5,149,151 54.83%
$4,000,000
$2,161,369 $2,000,000 $1,130,717
$- (3) Material (1) Labor (2) Service (3) Material $1,130,717 (2) Service 8.13% $5,149,151 37.04% YTD Budget YTD Actual (1) Labor - Wages (2) Service - Benefits & Other Services Provided by Ouside Vendors Electric Operating Expenses (3) Material - Purchased Supplies & Energy Efficiency Through April 2021 (Purchased Power & Depreciation Excluded) AGENDA ITEM NO: 4.C.7 MEETING DATE: 6/21/2021
Alameda Municipal Power Fiscal Year (FY) 2021 Total Wages & Benefits Through April 2021
$18,000,000
$16,000,000
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
TOTAL WAGES & BENEFITS FY 2020 actual FY 2021 actual FY 2021 budget
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
GROSS WAGES FY2020 actual FY2021 actual FY2021 budget
Budgeted Employees: 92 Actual Employees: 80 + 1 Temp AGENDA ITEM NO: 4.C.8 MEETING DATE: 06/21/2021
Alameda Municipal Power Selected Information - Purchased Power Billing From NCPA for the Month of April 2021
AMP pays purchase power invoices through Northern California Power Agency (NCPA). Generally, the monthly purchased power cost consists of NCPA's estimated power billing invoice for the current month, and an adjustment for the preceding months.
The monthly gross purchased power billing is listed below:
Fiscal Year (FY) 2021 FY 2021 FY 2020 FY 2020 Power Cost per bill/ Mo. Monthly Year-to-Date Monthly Year-to-Date July 2,468,322 2,468,322 2,178,322 2,178,322 August 2,541,435 5,009,757 2,221,466 4,399,788 September 1,800,469 6,810,226 2,197,127 6,596,915 October 1,725,192 8,535,418 2,201,959 8,798,874 November 2,486,641 11,022,059 2,435,602 11,234,476 December 3,177,842 14,199,901 2,875,992 14,110,468 January 3,367,747 17,567,648 3,975,350 18,085,818 February 2,950,698 20,518,346 3,764,184 21,850,002 March 2,579,884 23,098,230 2,779,563 24,629,565 April 2,346,048 25,444,278 2,715,235 27,344,800 May June - -
Apl./Prior Year Net Metering Purchase - Solar 6,054 47,680 935 19,233
Apl./Prior Year Payment to NCPA for Energy Efficiecy Programs & Other - 53,459 - 26,595 Apl./Prior Year Miscellaneous (12,175) (195,790) (4,650) (48,492) Prior Year NCPA Refund for Prior Year Settlement - - - - 2,339,927 25,349,627 2,711,520 27,342,136
. $4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$-
Monthly Purchased Power Billing Invoice From NCPA FY2021 Monthly Billing FY2020 Monthly Billing AGENDA ITEM 4.C.9 MEETING DATE: 06/21/2021
9,000,000.00
8,000,000.00 November 2012
7,000,000.00
6,000,000.00
5,000,000.00
4,000,000.00
3,000,000.00
2,000,000.00
1,000,000.00
- JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN
Electric Capital Additions Budget vs. Actual and Forecast Budget Forecast Actual YTD through April, 2021
10 Total Budget This Month YTD Actual Utility System Capital Projects System Replacements 626,500 62,014 609,353 System Additions 0 0 0 New Loads 3,083,307 71,957 849,858 Underground Conversions 1,531,000 11,805 158,353 Funded by Cap & Trade 306,550 3,713 616,795 Funded by REC 1,955,800 957 6,372 $7,503,157 $150,446 $2,240,731
System Enhancements (Capitalized) Transmission 0 0 0 Distribution 0 0 0 Substation Equipment 290,650 0 44,193 Subtotal - System Enhancements Projects $290,650 $0 $44,193
Information Systems Capital Projects IT Equip (Monitors, tablets, workstations) 0 0 0 IT Security 0 0 0 Network & Storage 0 0 0 IT Additions & Expansion 200,000 0 0 All Others - unplanned 0 0 0 Subtotal - Information Systems Projects $200,000 $0 $0
Admin Capital Projects Financial & CIS System Upgrades $185,000 14,250 30,390 Subtotal - Admin Services Projects $185,000 $14,250 $30,390
Support Services Capital Projects Security Upgrades 0 0 0 Energy Efficiency-REC 0 0 0 Service Center Upgrades 0 0 15,396 All Others - unplanned 0 0 Subtotal - Support Services Capital Projects $0 $0 $15,396
Total Capital Projects for FY 2021 $8,178,807 $164,696 $2,330,710 4/14/16 Per Sophie, budget will not match budget book total still. Collected This Month YTD Actual
Total Outside Billing Projects for FY 2021 $ (3,042,868) $99,623 1,150,693 AGENDA ITEM NO: 4.C.10 MEETING DATE:06/21/2021 Special Revenue Summary - FY2021 Year To Date through April 2021
Cap & Trade Revenue Funding from Operating Capital Total Reserve - 10 2114 Cash Receipts Power Costs Expenses Projects Expenditures Reserve Balance
Reserve Beginning Balance 6-30-2020 3,619,827 Jul-20 - (204,167) - (118,630) (322,797) 3,297,029 Aug-20 - (204,167) - (78,888) (283,055) 3,013,975 Sep-20 307,896 (131,667) - (43,536) (175,203) 3,146,667 Oct-20 - (131,667) - (317,838) (449,505) 2,697,162 Nov-20 - (131,667) - (5,761) (137,428) 2,559,735 Dec-20 266,089 (131,667) - (4,790) (136,457) 2,689,366 Jan-21 - (131,667) - (5,959) (137,626) 2,551,740 Feb-21 - (131,667) - (16,879) (148,546) 2,403,194 Mar-21 352,191 (131,667) - (20,800) (152,467) 2,602,918 Apr-21 - (131,667) - (3,713) (135,380) 2,467,538 May-21 - 2,467,538 Jun-21 - 2,467,538 Total To Date 926,176 (1,461,670) - (616,795) (2,078,465) 2,467,538
Renewable Energy Credits Funding from Operating Capital Total Revenue Reserve - 10 2113 Cash Receipts Power Costs Expenses Projects Expenditures Reserve Balance
Reserve Beginning Balance 6-30-2020 19,821,572 Jul-20 - - - - - 19,821,572 Aug-20 - (640) (8,813) - (9,453) 19,812,119 Sep-20 - - (7,071) - (7,071) 19,805,048 Oct-20 - (114,000) (37,892) - (151,892) 19,653,156 Nov-20 - (108,150) (6,837) - (114,987) 19,538,169 Dec-20 - (111,600) (127,628) - (239,228) 19,298,940 Jan-21 - (116,640) (21,879) (469) (138,988) 19,159,952 Feb-21 - (100,800) (124,652) - (225,452) 18,934,500 Mar-21 - - (53,314) (4,946) (58,260) 18,876,240 Apr-21 - - (34,126) (957) (35,083) 18,841,157 May-21 - 18,841,157 Jun-21 - 18,841,157 Total To Date - (551,830) (422,212) (6,372) (980,415) 18,841,157
Low Carbon Fuel Standard Funding from Operating Capital Total Revenue Reserve - 10 2115 Cash Receipts Power Costs Expenses Projects Expenditures Reserve Balance
Reserve Beginning Balance 6-30-2020 1,737,572 Jul-20 - - (3,616) - (3,616) 1,733,956 Aug-20 - - (9,737) - (9,737) 1,724,219 Sep-20 - - (9,277) - (9,277) 1,714,942 Oct-20 - - (8,693) - (8,693) 1,706,249 Nov-20 - - (10,258) - (10,258) 1,695,991 Dec-20 - - (9,247) - (9,247) 1,686,743 Jan-21 1,000,000 - (31,796) (31,796) 2,654,948 Feb-21 (1,250) - (5,422) - (6,672) 2,648,276 Mar-21 - - (24,000) - (24,000) 2,624,276 Apr-21 - - (18,429) - (18,429) 2,605,847 May-21 - 2,605,847 Jun-21 - 2,605,847 Total To Date 998,750 - (130,475) - (131,725) 2,605,847
Combined Total 1,924,926 (2,013,500) (552,687) (623,167) (3,190,604) 23,914,542 AGENDA ITEM NO:4.C.11 MEETINGDATE: 6/21/2021
FINANCIAL REPORT DETAIL AGENDA ITEM NO: 4.C.12 MEETING DATE: 6/21/2021
Alameda Municipal Power Financial Notes For the Month of April 2021
1. Sales of Electricity: Electricity sales for the month were 1.7 percent under budget and 8.9 percent lower than the same month last year. Residential sales were 14.9 percent over budget for the month and 14.1 percent lower than the same month last year. General Service A1 sales were 9.0 percent under budget for the month and 7.7 percent lower than the same month last year. Demand Metered Services A2 & A3 sales were 6.6 percent under budget for the month and 5.2 percent lower than the same month last year. Municipal and Other Service sales were 14.1 percent over budget for the month and 11.3 percent lower than the same month last year.
Overall KWh sales were 0.1 percent over budget for the month and 9.8 percent lower than the same month last year. Residential KWh sales were 12.7 percent over budget for the month and 15.2 percent lower than the same month last year. General Service A1 KWh sales were 10.1 percent under budget for the month and 10.1 percent lower than the same month last year. Demand Metered Services A2 & A3 KWh sales were 8.8 percent under budget for the month and 4.6 percent lower than the same month last year. Municipal and Other Service KWh sales were 15.8 percent over budget for the month and 3.1 percent higher than the same month last year.
2. Purchased Power: Purchased power costs for the month were $420,135 under budget and $371,593 lower than the same month last year (see 4.C.13 & 4.C.14 Income Statement) due to prior month negative adjustments of $617,744. The NCPA monthly billing includes estimates for the current month and adjustments for preceding months.
3. Operating Expenses: Monthly operating expenses, excluding purchased power and depreciation, were 41.5 percent under budget and 15.4 percent lower than the same month last year. For year to date, Labor was 21.5 percent under budget, Service was 41.5 percent under budget, and Material was 47.7 percent under budget.
4. Non-Operating Revenues and Expenses: Net non-operating revenue/expenses were 89.5 percent under budget and 95.3 percent lower than the same month last year due to lower interest income on investments and write off damage claim expenses.
AGENDA ITEM NO: 4.C.13 MEETING DATE: 06/21/2021 Alameda Municipal Power FY21 Income Statement - Budget vs Actual For April 1, 2021 through April 30, 2021
Current Current Actual Less YTD Actual YTD Actual Less Month Actual Month Budget Budget Amount Budget Budget Operating Revenues Sale of Electricity 5,154,768.10 5,029,300.82 125,467.28 2.5 52,570,572.40 52,690,650.02 120,077.62- 0.2- Electric Other Operating Sales 19,046.53 33,145.82 14,099.29- 42.5- 141,856.15 331,458.20 189,602.05- 57.2- Cap & Trade Net Revenue 119,188.83 119,188.83- 100.0- 926,175.73 1,191,888.30 265,712.57- 22.3- REC Revenue Low Carbon Fuel Standard Credit Sale 83,333.33 83,333.33- 100.0- 998,750.00 833,333.30 165,416.70 19.9 Telephone Revenues 5,246.04 1,418.41 3,827.63 269.9 50,766.31 14,184.10 36,582.21 257.9 ------Total Operating Revenue 5,179,060.67 5,266,387.21 87,326.54- 1.7- 54,688,120.59 55,061,513.92 373,393.33- 0.7------Operating Expense Power Balancing AC Adjustment Purchased Power 2,339,927.32 2,760,061.98 420,134.66- 15.2 25,349,627.08 27,832,745.93 2,483,118.85- 8.9 Energy Efficiency 14,844.90 49,147.00 34,302.10- 69.8 289,725.11 491,647.00 201,921.89- 41.1 Customer Assist, Solar Rebate & Other 14,608.43 11,662.00 2,946.43 25.3- 159,826.07 116,662.00 43,164.07 37.0- Telephone Expenses 1,249.50 1,249.50- 100.0 1,599.35 12,499.50 10,900.15- 87.2 Operations & Maintenance 423,590.35 621,874.74 198,284.39- 31.9 4,142,352.10 6,220,977.15 2,078,625.05- 33.4 Customer Service 186,966.73 353,163.63 166,196.90- 47.1 2,676,714.53 3,511,897.38 835,182.85- 23.8 Administrative and General 481,612.81 822,967.44 341,354.63- 41.5 5,755,217.65 8,232,638.19 2,477,420.54- 30.1 Depreciation and Amortization 333,386.99 283,333.33 50,053.66 17.7- 3,266,998.49 2,833,333.30 433,665.19 15.3- Customer Relations 34,021.16 57,043.84 23,022.68- 40.4 330,569.36 558,638.84 228,069.48- 40.8 Expenses Funded by Special Revenue 47,431.42 139,323.25 91,891.83- 66.0 602,415.24 1,563,698.25 961,283.01- 61.5 ------Total Operating Expense 3,876,390.11 5,099,826.71 1,223,436.60- 24.0 42,575,044.98 51,374,737.54 8,799,692.56- 17.1 ------Operating Income (Loss) 1,302,670.56 166,560.50 1,136,110.06 682.1 12,113,075.61 3,686,776.38 8,426,299.23 228.6 ------Nonoperating Income (Expense) Return on Investments 92,029.14 102,083.33 10,054.19- 9.8- 793,239.49 1,020,833.30 227,593.81- 22.3- Return on restricted investments 20.26 20.26 100.0- 184.71 184.71 100.0- Debt-related charges 99,929.63- 99,918.77- 10.86- 999,296.30- 999,547.55- 251.25 Net Nonoperating Income (Exp) 78,037.23- 30,903.25 108,940.48- 352.5- 25,586.22- 309,032.50 334,618.72- 108.3- Payment in Lieu of Taxes 127,833.34- 129,039.66- 1,206.32 0.9- 1,278,333.40- 1,290,861.33- 12,527.93 1.0- Misc. Credits & Debits to Surplus ------Total Nonoperating Income 213,750.80- 95,971.85- 117,778.95- 122.7 1,509,791.72- 960,543.08- 549,248.64- 57.2 ------Income before Transfer to the City 1,088,919.76 70,588.65 1,018,331.11 1,442.6 10,603,283.89 2,726,233.30 7,877,050.59 288.9 ------Transfer to the City 401,200.00- 334,439.84- 66,760.16- 20.0 3,610,800.00- 3,345,602.87- 265,197.13- 7.9 ------Net Income (Loss) 687,719.76 263,851.19- 951,570.95 360.6- 6,992,483.89 619,369.57- 7,611,853.46 1,229.0- ======AGENDA ITEM NO: 4.C.14 MEETING DATE: 06/21/2021 Alameda Municipal Power FY21 Comparative Income Statement For April 1, 2021 through April 30, 2021
Current Last Year Current Less YTD Actual Last Year YTD Less Month Amount Curr Month Last Yr Curr Amount YTD Last Yr YTD Operating Revenues Sale of Electricity 5,154,768.10 5,729,637.55 574,869.45- 10.0- 52,570,572.40 53,528,743.66 958,171.26- 1.8- Electric Operating Sales 19,046.53 22,947.77 3,901.24- 17.0- 141,856.15 350,169.89 208,313.74- 59.5- Cap & Trade Net Revenue 926,175.73 817,618.00 108,557.73 13.3 REC Sales Net Revenue 71,944.00- 71,944.00 100.0- 918,552.00 918,552.00- 100.0- Low Carbon Fuel Credit Sale 998,750.00 988,750.00 10,000.00 1.0 Telephone Revenues 5,246.04 5,135.01 111.03 2.2 50,766.31 55,682.25 4,915.94- 8.8------Total Operating Revenue 5,179,060.67 5,685,776.33 506,715.66- 8.9- 54,688,120.59 56,659,515.80 1,971,395.21- 3.5------Operating Expense Purchased Power 2,339,927.32 2,711,520.47 371,593.15- 13.7 25,349,627.08 27,342,136.09 1,992,509.01- 7.3 Energy Efficiency 14,844.90 25,174.98 10,330.08- 41.0 289,725.11 248,954.07 40,771.04 16.4- Customer Assist, Solar Rebate & Other 14,608.43 14,421.12 187.31 1.3- 159,826.07 123,414.29 36,411.78 29.5- Telephone Expenses 1,599.35 3,207.31 1,607.96- 50.1 Operations & Maintenance 423,590.35 375,109.73 48,480.62 12.9- 4,142,352.10 4,001,996.63 140,355.47 3.5- Customer Service 186,966.73 260,315.54 73,348.81- 28.2 2,676,714.53 2,304,710.81 372,003.72 16.1- Administrative and General 481,612.81 697,404.44 215,791.63- 30.9 5,755,217.65 7,458,692.49 1,703,474.84- 22.8 Depreciation and Amortization 333,386.99 316,521.64 16,865.35 5.3- 3,266,998.49 3,184,232.72 82,765.77 2.6- Customer Relations 34,021.16 45,650.92 11,629.76- 25.5 330,569.36 521,868.40 191,299.04- 36.7 Expenses Funded by Special Revenue 47,431.42 3,865.79 43,565.63 1,127.0- 602,415.24 721,255.38 118,840.14- 16.5 ------Total Operating Expense 3,876,390.11 4,449,984.63 573,594.52- 12.9 42,575,044.98 45,910,468.19 3,335,423.21- 7.3 ------Operating Income (Loss) 1,302,670.56 1,235,791.70 66,878.86 5.4 12,113,075.61 10,749,047.61 1,364,028.00 12.7 ------Nonoperating Income (Expense) Return on Investments 92,029.14 302,227.76 210,198.62- 69.5- 793,239.49 1,344,647.18 551,407.69- 41.0- Return on restricted investments 20.26 1,469.50 1,449.24- 98.6- 184.71 37,927.47 37,742.76- 99.5- Debt-related charges 99,929.63- 106,148.89- 6,219.26 5.9- 999,296.30- 1,061,488.90- 62,192.60 5.9- Net Nonoperating Income (Exp) 78,037.23- 7,171.00- 70,866.23- 988.2 25,586.22- 312,024.82 337,611.04- 108.2- Payment in Lieu of Taxes 127,833.34- 125,333.33- 2,500.01- 2.0 1,278,333.40- 1,253,333.30- 25,000.10- 2.0 Misc. Credits & Debits to Surplus ------Total Nonoperating Income 213,750.80- 65,044.04 278,794.84- 428.6- 1,509,791.72- 620,222.73- 889,568.99- 143.4 ------Income before Transfer to the City 1,088,919.76 1,300,835.74 211,915.98- 16.3- 10,603,283.89 10,128,824.88 474,459.01 4.7 ------Transfer to the City 401,200.00- 397,113.60- 4,086.40- 1.0 3,610,800.00- 3,632,651.88- 21,851.88 0.6------Net Income (Loss) 687,719.76 903,722.14 216,002.38- 23.9- 6,992,483.89 6,496,173.00 496,310.89 7.6 ======
AGENDA ITEM NO: 4.C.15 MEETING DATE: 06/21/2021
Alameda Municipal Power FY21 Consolidated Balance Sheet As of April 30, 2021
Current Last Year Current YTD YTD Amount YTD Amount - Last YTD
ASSETS
Utility Plant 116,125,082.07 113,706,673.06 2,418,409.01 2.1 Construction Work in Progress 5,998,086.80 6,170,022.67 171,935.87- 2.9- Accumulated Depreciation 84,518,965.31- 81,041,074.30- 3,477,891.01- 4.1 ------Utility Plant Net 37,604,203.56 38,835,621.43 1,231,417.87- 3.3------Restricted Investments 2010A&B Installment Fund 1,618,128.16 1,590,234.97 27,893.19 1.7 2010A&B Reserve Fund 2,752,816.98 2,752,648.63 168.35 ------Restricted Investments 4,370,945.14 4,342,883.60 28,061.54 0.6 ------Investments Reserved - Special Purposes Insurance Reserve 1,200,000.00 1,200,000.00 Underground Cons. Reserve 13,163,128.13 12,060,119.75 1,103,008.38 9.1 Solar PV Rebate Reserve REC Net Revenue Reserve 18,841,157.32 19,941,363.22 1,100,205.90- 5.8- CAP&Trade Net REV Reserve 2,467,537.70 3,491,471.73 1,023,934.03- 41.5- Low Carbon Fuel St Rev Reserve 2,605,846.93 1,805,658.90 800,188.03 30.7 ------Investments Reserved - Special Purposes 38,277,670.08 38,498,613.60 220,943.52- 0.6------Noncurrent Assets: NCPA projects and reserves 10,757,986.00 10,828,040.00 70,054.00- 0.7- Notes Receivable Deposits 40,000.00 40,000.00 Debt Issue Costs (Net) 448,768.66 510,419.26 61,650.60- 13.7- Deferred outflows re to pension 2,666,288.00 2,657,801.00 8,487.00 0.3 Deferred Outflows re to OPEB 59,672.00 1,509.00 58,163.00 97.5 Vectren Mgmt Fee Buy Out (Net) Interfund Advances 10.33 6.63 3.70 35.8 ------Non Current Assets 13,972,724.99 14,037,775.89 65,050.90- 0.5------Current Assets: Cash and equivalents 58,182,264.38 52,350,520.95 5,831,743.43 10.0 Interest Receivable 5,901.67 16,377.22 10,475.55- 177.5- Accounts Receivable 8,420,878.44 8,100,958.35 319,920.09 3.8 Materials and Supplies 4,520,050.25 3,492,607.66 1,027,442.59 22.7 Prepaid PILOT/ROI 124,008.00 274,606.50 150,598.50- 121.4- Prepaid Power costs and others 97,447.46 25,441.00 72,006.46 73.9 ------Current Assets 71,350,550.20 64,260,511.68 7,090,038.52 9.9 ------Total Assets 165,576,093.97 159,975,406.20 5,600,687.77 3.4 ======
AGENDA ITEM NO: 4.C.16 MEETING DATE: 06/21/2021
Alameda Municipal Power FY21 Consolidated Balance Sheet As of April 30, 2021
Current Last Year Current YTD YTD Amount YTD Amount - Last YTD
CAPITALIZATION AND LIABILITIES
Capitalization: Earned surplus: Unappropriated 21,327,047.63 19,739,372.13 1,587,675.50 7.4- Appropriated Earnings 38,794,309.55 39,052,125.40 257,815.85- 0.7 Current Net Earnings and Expense 6,992,483.89 6,496,173.00 496,310.89 7.1------Total Earned Surplus 67,113,841.07 65,287,670.53 1,826,170.54 2.7------Equity in NCPA joint venture 10,572,051.00 10,673,031.00 100,980.00- 1.0 ------
Long Term Liabilities Long Term Debts 48,066,976.00 46,962,977.00 1,103,999.00 2.3- Capital Lease Payables Deferred Inflows re to pension 599,537.00 446,536.00 153,001.00 25.5- Interfund Advances ------Long Term Liabilities 48,666,513.00 47,409,513.00 1,257,000.00 2.6------
Current Liabilities A/P and Accrued Payroll 579,913.40 1,741,295.64 1,161,382.24- 200.3 Litigation Judgement Interest Payable 379,167.80 404,044.73 24,876.93- 6.6 Purchase Power Balancing A/C 27,350,493.39 26,204,877.81 1,145,615.58 4.2- Deposits 8,077,289.92 6,167,927.46 1,909,362.46 23.6- Taxes Payable 342,455.01 376,393.61 33,938.60- 9.9 Other Accrued Liabilities 2,494,369.38 1,710,652.42 783,716.96 31.4------Current Liabilities 39,223,688.90 36,605,191.67 2,618,497.23 6.7------Total Capitalization and Liabilities 165,576,093.97 159,975,406.20 5,600,687.77 3.4- ======
AGENDA ITEM NO: 4.C.17 MEETING DATE: 06/21/2021
Alameda Municipal Power Electric & Alameda Point Phone Services Statement of Cash Flows For the Month of April 2021
Current Month Year to Date
Net Cash Flows from Operating Activities Net Income (Loss) - Electric 687,720 6,992,484 Net Income (Loss) - Alameda Point Phone - - - Depreciation & Amortization expense 333,387 635,275 - Plant Asset Retirement Accum Dep. Adjustment 0 2,521,391 - Debt Cost Amortization 5,138 51,376 - Balancing Account Year-end Adjustment - 1,020,616 - (Increase) Decrease in Lease Deposit - - - ( Increase ) Decrease in Accounts Receivable (133,798) (1,040,548) - ( Increase ) Decrease in Interest Receivable - - - ( Increase ) Decrease in Material & Supplies Inventory 7,595 (1,125,409) - ( Increase ) Decrease in Prepaids (9,240) (167,967) - Increase (Decrease) in Accounts Payable (870,901) (618,968) - Increase (Decrease) in Interest Payable 94,792 (226,900) - Increase (Decrease) in Customer Deposits 223,929 2,015,493 - Increase (Decrease) in Taxes Payable (27,638) 16,762 - Increase (Decrease) in Other Accrued Liabilities (12,693) (1,270,238) - Increase (Decrease) in Pension-related Liabilities - 191,123
Net cash provided (used) by operating activities 298,289 8,994,489
Cash Flows From Investing Activities (Increase) Decrease in Utility Plant (1,051,979) (1,576,527) (Increase) Decrease in Construction Work in Progress 965,777 (3,027,300) 2010A&B Bond Fund Debt Service Trustee A/C (217,836) 406,481 2010A&B Common Reserve Account Interest Income (14) (141) 2010 A&B Cost Issuance - Net Funding - - Plant Asset Retirement 0 2,521,391 Sale Proceed of Obsolete Assets - - (Increase) Decrease in NCPA - GOR Value - (185,935) (Increase) Decrease in NCPA - Projects Value - - (Increase) Decrease in Northern California Power Agency Various Deposits - - Net cash provided (used) by investing activities (304,052) (1,862,031)
Cash Flows From Financing Activites 2010B Bond Principal Payment - (1,410,000) Net cash provided (used) by financing activities - (1,410,010)
Net Increase (Decrease) in Cash (5,762) 5,722,447 Appropriation for Reserves (Increase) Decrease in Underground Fund Reserve (92,779) (906,272) (Increase) Decrease in Solar Photovoltaic Rebate Reserve - - (Increase) Decrease in Renewable Energy Credits Net Revenue Reserve 35,083 1,196,415 (Increase) Decrease in Cap&Trade Net Revenue Reserve 135,380 1,152,289 (Increase) Decrease in Low Carbon Fuel St Rev Reserve 18,429 (868,275) - Subtotal (Increase) Decrease in in Reserves 96,114 574,156 Total Increase (Decrease) in Cash 90,352 6,296,603
Cash - Jun 30, 2020 51,885,661 Cash - March 31, 2021 58,091,913 Cash - April 30, 2021 58,182,264 58,182,264
Additional Information
Reserves for Special Purposes at 6/30/2020 38,851,826 Reserves for Special Purposes at 3/31/2021 38,373,784 Net Increase (Decrease) for the period (96,114) (574,156) Reserves for Special Purposes at 4/30/2021 38,277,670 38,277,670 Alameda Municipal Power AGENDA ITEM 4.C.18 Utility Plant Detail--Electric 6/21/2021 For the Month of April, 2021
General Utility General Accumulated Net Utility Ledger Plant Ledger Depreciation Plant Transmission Land & Land Rights 350.101 2501 $69,332.79 2822 $0.00 $69,332.79 Structures & Improvements - West Crossing 351.101 2522 74,662.06 2822 66,444.84 8,217.22 Structures & Improvements - East Crossing 352.101 2522 68,948.27 2822 63,051.58 5,896.69 Transformer Towers & Fixtures 354.101 2522 461,706.86 2822 461,687.25 19.61 Transformer Poles & Fixtures 355.101 2522 816,565.71 2822 745,841.27 70,724.44 Overhead Conductors & Devices 356.101 2522 846,458.59 2822 646,235.20 200,223.39 Underground Conduits 357.101 2522 366,075.48 2822 355,377.40 10,698.08 Underground Conductors & Devices 358.101 2522 1,359,176.41 2822 1,334,738.64 24,437.77 Total Transmission $4,062,926.17 $3,673,376.18 $389,549.99 Distribution Land & Land Rights - Grand St. Station 360.101 2501 36,867.29 0.00 36,867.29 Structures & Improvements -Grand St.Cartwright & Jenny Substations 361.101 2511 2,498,155.22 2811 1,577,648.14 920,507.08 Station Equipment - Grand St. Station 362.101 2521 946,631.33 2821 452,557.76 494,073.57 Station Equipment - Cartwright Station 362.401 2521 3,450,767.86 2821 1,225,776.98 2,224,990.88 Station Equipment - Jenny Station 362.501 2521 3,961,146.84 2821 1,968,075.73 1,993,071.11 Storage Battery - Jenny Station 363.501 2521 51,194.42 2821 51,194.42 0.00 Poles Towers & Fixtures 364.101 2521 10,043,521.72 2821 7,690,111.54 2,353,410.18 Overhead Conductors & Devices 365.101 2521 9,810,070.89 2821 7,378,485.11 2,431,585.78 Underground Conduits 366.101 2521 13,362,896.17 2821 10,220,718.76 3,142,177.41 Underground Conductors & Devices 367.101 2521 22,035,317.10 2821 18,511,436.12 3,523,880.98 Line Transformers 368.101 2521 7,405,491.22 2821 5,316,108.18 2,089,383.04 Services 369.101 2521 4,137,156.18 2821 3,714,414.14 422,742.04 Meters 370.101 2521 9,187,422.57 2821 2,539,002.70 6,648,419.87 Land & Land Rights - Jenny Station (50 Years) 360.101 2501 66,500.00 2901 0.00 66,500.00 Total Distribution $86,993,138.81 $60,645,529.58 $26,347,609.23
General Plant Land & Land Rights - Grand St. Station 389.101 2501 $47,443.89 2811 $0.00 $47,443.89 Structures & Improvements 390.101 2511 5,669,913.39 2811 3,172,861.88 2,497,051.51 Office Mechanical Equipment 391.101 2551 1,288,301.07 2851 1,185,175.90 103,125.17 Office Furniture & Other Equipment 391.201 2571 923,119.31 2871 686,632.18 236,487.13 Computer Equipment & Software 391.301 2561 3,503,773.72 2861 3,259,567.92 244,205.80 Office Equipment-System Software-Cayenta 391.306 2591 1,012,361.62 2891 954,872.53 57,489.09 Dispatch Center Equipment 391.401 2551 421,701.98 2851 265,609.43 156,092.55 Transportation Equipment 392.101 2581 42,378.98 2881 42,378.98 0.00 Transportation Vehicles 392.105 2581 40,033.70 2881 38,249.39 1,784.31 Construction Vehicles 392.106 2581 3,553,613.89 2881 2,651,579.64 902,034.25 Electric Transportaion Vehicles 392.107 2581 210,615.13 2881 106,725.61 103,889.52 Electric Construction Vehicles 392.108 2581 0.00 2881 0.00 0.00 Stores Equipment 393.101 2551 128,116.93 2851 84,888.25 43,228.68 Shop & Garage Equipment 394.101 2551 25,712.82 2851 24,617.67 1,095.15 Tools & Work Equipment 394.201 2551 804,211.53 2851 787,666.40 16,545.13 Communication Equipment 397.101 2551 6,861,942.17 2851 6,547,552.20 314,389.97 Miscellaneous Equipment 398.101 2551 535,776.96 2851 391,681.57 144,095.39 Total General Plant $25,069,017.09 $20,200,059.55 $4,868,957.54 Subtotal $116,125,082.07 $84,518,965.31 $31,606,116.76
Construction Work In Progress (CWIP) 2701 2704 $5,998,086.80 $5,998,086.80 Grand Total $122,123,168.87 $84,518,965.31 $37,604,203.56 AGENDA ITEM NO: 4.C.19 MEETING DATE:06/21/2021
Alameda Municipal Power Calculation of Non-Power Costs for Balancing Account Fiscal Year (FY) 2021 Year To Date (YTD) through April 2021
FY 2020 FY 2021 FY 2021 FY 2021 Annual Annual Year-to-Date Year-to-Date Budget Budget Budget Actual Revenue Sale of Electricity - see Income Statement (4.C.13) 61,982,673 62,731,000 52,690,650 52,570,572 Other Revenue SB-1 Solar Surcharge - - - - Other Electric Operating Sales (minus line19) 403,773 397,749 331,458 141,856 Cap&Trade Sales Income & Low Carbon Fuel Standard Credit Sale 1,787,256 2,430,266 2,025,222 1,924,926 Renewable Eenergy Credits (REC) Sales Income 1,167,720 - - - Interest Income 1,200,000 1,225,000 1,020,833 793,424 Less Restricted Interest Income for Trustee Account - - - (185) Non-Operating Income/Deduction Net 379,110 387,860 309,033 (25,586) Reserves Reduction - Release Reserves funds for designated usages 4,550,600 5,695,850 4,746,542 3,348,956 9,488,459 10,136,725 8,433,087 6,183,392
Retainments: Underground Utility District Reserve Funding (1,240,000) (1,255,000) (1,045,833) (1,045,833) Retainments: Solar Surcharge - - - - Retainments: Cap&Trade and REC Sales Net Revenue (2,954,976) (2,430,266) (2,025,222) (926,176) Retainments: Low Carbon Fuel Standard - - - (1,000,000) (4,194,976) (3,685,266) (3,071,055) (2,972,009)
Adjusted Net Revenue 67,276,156 69,182,459 58,052,682 55,781,955
Purchased Power (29,968,408) (33,160,453) (27,832,746) (25,349,627)
Expense Items Included In Non-Power Costs Total Operating Expenses - see Income Statement (4.C.13) (56,396,068) (61,427,374) (51,374,738) (42,575,045) Remove Purchased Power included in Total Operating Expenses 29,968,408 33,160,453 27,832,746 25,349,627 Non-Power Operating Expenses (26,427,660) (28,266,921) (23,541,992) (17,225,418) Remove Depreciation 3,400,000 3,400,000 2,833,333 3,266,998 Non-Power Operating Expenses Excluding Depreciation (23,027,660) (24,866,921) (20,708,658) (13,958,419)
Debt Related Charges interest (1,274,136) (1,199,505) (999,548) (999,296) Less Debt Cost Amortization 62,000 62,000 51,665 51,376 Payment In Lieu Of Taxes /Return On Investment (1,518,721) (1,549,096) (1,290,861) (1,278,333) Non-Operating Revenue & Expenses (2,730,857) (2,686,601) (2,238,744) (2,226,253)
Capital Projects (see 4.C.9) (7,009,920) (8,178,807) (6,815,673) (2,330,710)
Total Non-Power Costs (32,768,437) (35,732,329) (29,763,075) (18,515,383)
Recap of Income and Expenses Sale of Electricity 61,982,673 62,731,000 52,690,650 52,570,572 Other Revenue Sources 9,488,459 10,136,725 8,433,087 6,183,392 Retainments (4,194,976) (3,685,266) (3,071,055) (2,972,009) Purchased Power Costs (29,968,408) (33,160,453) (27,832,746) (25,349,627) Total Non-Power Costs Excluding City Transfer (32,768,437) (35,732,329) (29,763,075) (18,515,383) Transfer to City of Alameda General Fund (3,990,228) (4,014,884) (3,345,603) (3,610,800) Over (Under) Collection 549,083 (3,725,207) (2,888,742) 8,306,145 AGENDA ITEM NO: 4.D.1 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-66
To: Honorable Public Utilities Board Submitted by: ______/s/______Robert J. Orbeta AGM - Administration From: Carolina E Mazilu Senior Utility Accountant Approved by: ______/s/______Nicolas Procos General Manager Subject: Treasurer’s Report for the Month Ending April 30, 2021 ______RECOMMENDATION For information, no action is recommended. BACKGROUND This report is submitted in compliance with Alameda Municipal Power’s (AMP) policy and the State of California Government Code Sections 53607 and 53646(b). DISCUSSION Funds have been managed and invested in compliance with the Public Utilities Board’s Resolution No. 5178. AMP’s expenditure requirements for the next six-months are covered by anticipated revenues and the liquidity of current investments. Investments The total book value of AMP’s investment portfolio is $84,340,294. The current market value of the portfolio totaled $84,331,525. Investments are held to maturity or may be sold when prices yield a gain on the sale. The overall portfolio has a weighted average interest rate of 0.69 percent. Interest Rates During the period, the rate on 3-Years US Treasury Bills decreased 1 basis points from 0.35 percent on March 31, 2021, to 0.34 percent on April 30, 2021. The rate on the Secured Overnight Financial Rate (SOFR) remained at 0.01 percent on April 30, 2021, as was on March 31, 2021. The rate on Local Agency Investment Fund (LAIF) decreased 2 basis points from 0.36 percent on March 31, 2021, to 0.34 percent on April 30, 2021. BUDGET CONSIDERATION/FINANCIAL IMPACT None EXHIBITS A. Investment Portfolio Summary and Detail B. Supplemental Schedule - Sources of Investments & Investment Portfolio Alameda Municipal Power INVESTMENT PORTFOLIO SUMMARY April 30, 2021
Current Book Unrealized Percent of Average Market Value Value Gain (Loss) Total Return
Local Agency Investment Fund $57,058,282 $57,058,282 $0 67.65% 0.339% U.S. Government Agencies 2,339,175 2,318,985 20,190 2.75% 0.664% U.S. Government Bonds 486,384 491,688 -5,304 0.58% 4.903% Cash & Money Market 65,571 65,571 0 0.08% 0.350% Municipal Bonds 8,265,992 8,332,402 -66,410 9.88% 1.772% Corporate Fixed Income 8,128,170 8,118,211 9,959 9.63% 1.557% Certificates of Deposit(s) 7,987,951 7,955,154 32,797 9.43% 0.973%
Total Investment Portfolio and Weighted Average Return $84,331,525 $84,340,294 -$8,768 100.00% 0.692%
Fiscal Year (FY) 2021 Budgeted Interest Income $1,225,000 FY2021 Year-to-date Interest Income Estimated $793,239 Percent of Interest Received To Date 64.8%
Actual Budgeted FY 2019 Interest Income $1,534,102 $300,000 FY 2018 Interest Income $826,098 $300,000 FY 2017 Interest Income $470,818 $120,000 FY 2016 Interest Income $316,332 $101,000 FY 2015 Interest Income $173,594 $105,000
AGENDA ITEM NO: 4.D MEETING DATE: 06/21/2021 EXHIBIT B: PAGE 1 of 4 Alameda Municipal Power DETAIL OF INVESTMENT PORTFOLIO April 30, 2021
Investment Custodian / Par Coupon Current Date of Date of % of Yield to Call Book Value Description S&P Rating Value Rate Market Value Investment Maturity Portfolio Maturity Date Purchase Price
Local Agency Investment Fund (LAIF) LAIF 0.339% $ 57,058,282 04/01/21 04/30/21 67.65% 0.339% $ 57,058,282
Cash & Money Market Funds $ 65,571 0.350% $ 65,571 04/01/21 04/30/21 0.08% 0.350% $ 65,571 Subtotal $65,571 $65,571 Subtotal $65,571
U.S. Government Treasuries & Agencies Federal Agric Mtg Corp Mnts B - 2.500%, 1/30/2023 N/A $ 250,000 2.500% $ 260,053 09/03/19 01/30/23 0.31% 1.390% $ 259,198 Federal Farm Cr Bks AA+ 250,000 0.290% 249,680 11/02/20 11/02/23 0.30% 0.290% 11/02/21 250,000 Federal Home Loan Banks N/A 300,000 0.319% 300,339 03/19/21 10/28/21 0.36% -0.119% 300,798 Federal Natl Mtg Assn AA+ 300,000 0.375% 295,923 11/02/20 08/25/25 0.35% 0.423% 299,313 Federal Natl Mtg Assn 100,000 0.375% 98,641 04/20/21 08/25/25 0.12% 0.535% 99,132 Tenn Val Auth Cpn Strip - 05/01/2024 N/A 350,000 0.000% 342,003 09/29/20 05/01/24 0.41% 0.225% 347,193 US Treasury Strip 8/15/2024 N/R 500,000 0.000% 492,540 10/08/19 08/15/24 0.56% 1.314% 469,315 US Treasury Strip 5/15/2021 N/R 300,000 0.000% 299,997 10/03/19 05/15/21 0.35% 1.252% 294,036 Subtotal $500,000 $2,339,175 Subtotal 2.75% 0.664% $2,318,985
U.S. Government Bonds US Department of Housing & Urban Development 5.660%, 08/01/23 - $ 480,000 5.660% $ 486,384 - 08/01/23 0.58% 4.903% 02/01/20 $ 491,688 $480,000 $486,384 0.58% 4.903% $491,688
Corporate Bonds Alabama Pwr Co - 2.80%, 04/01/2025 A $ 250,000 2.800% $ 264,925 06/26/20 04/01/25 0.32% 1.050% 01/01/25 $ 270,233 Alibaba Group Hldg Ltd 2.800%, 06/06/2023 A+ 250,000 2.800% 261,093 01/24/20 06/06/23 0.31% 1.816% 05/06/23 257,973 Alibaba Group Holding - 3.600%, 11/28/2024 A+ 285,000 3.600% 309,140 10/14/20 11/28/24 0.37% 0.986% 08/28/24 315,016 Amazon Com Inc - 3.80%, 12/05/2024 AA- 200,000 3.800% 221,850 11/09/20 12/05/24 0.27% 0.632% 09/05/24 225,430 Apple Inc. 2.700%, 05/13/2022 AA+ 300,000 2.700% 307,554 11/16/17 05/13/22 0.36% 2.367% 305,188 Apple Inc. 3.000%, 02/09/2017 AA+ 250,000 3.000% 266,720 10/14/20 02/09/24 0.32% 0.422% 12/09/23 271,225 Banco Santander S.A. 2.706%, 06/27/24 A 200,000 2.706% 211,166 09/17/19 06/27/24 0.24% 2.396% 202,780 Bank New York Mellon Corp 3.45%, 08/11/2023 A 250,000 3.450% 267,423 09/17/19 08/11/23 0.31% 2.042% 263,130 Barclays Bank PLC 2.3025% 6/19/2023 A 250,000 2.303% 265,125 02/18/20 06/19/23 0.31% 0.991% 260,743 Barclays Bank Plc - 1.20%, 1/24/2024 A 250,000 1.200% 248,640 08/08/20 01/24/24 0.30% 0.949% 07/24/21 252,130 Bristol-Myers Sqibb Co 2.000%, 8/1/2022 A+ 250,000 2.000% 255,330 12/06/17 08/01/22 0.29% 2.295% 246,757 Canadian Imp Bk Comm - 0.909, 09/13/2023 A+ 250,000 0.909% 253,488 11/02/20 09/13/23 0.30% 0.219% 254,875 Capital Impact Partners 3.2% 3/15/2024 A 253,000 3.200% 263,742 12/05/19 03/15/24 0.31% 2.406% 261,139 Credit Suisse New York 3.625% 9/9/2024 A+ 250,000 3.625% 272,060 12/05/19 09/09/24 0.32% 2.141% 266,703 Credit Suisse New York 3.625% 9/9/2024 A+ 300,000 3.625% 326,472 04/09/21 09/09/24 0.39% 0.853% 327,945 Florida Power LT Co A+ 200,000 3.250% 213,700 03/15/21 06/01/24 0.26% 0.841% 215,230 International Business Machs Sr Glbl NT2 2.500%, 1/27/2022 A 75,000 2.500% 76,244 11/14/18 01/27/22 0.09% 3.338% 73,103 International Business Machs 3.625%, 02/12/2024 A 175,000 3.625% 190,183 03/10/20 02/12/24 0.23% 1.393% 189,835 Local Initiatives Suport 1.0% 11/15/2025 AA- 500,000 1.000% 488,345 11/23/20 11/15/25 0.59% 1.000% 500,000 Local Initiatives Support Corp 1.250% 03/15/26 AA- 500,000 1.250% 497,320 03/22/21 03/15/26 0.59% 1.250% 500,000 Midamerican Energy Co 3.700% 9/15/23 A+ 250,000 3.700% 266,578 02/18/20 09/15/23 0.32% 1.718% 06/15/23 267,110 Public Storage 2.370%, 9/15/2022 A 250,000 2.370% 256,618 12/06/17 09/15/22 0.29% 2.506% 08/15/22 248,476 Royal Bank of Canada 2.550% 7/16/24 A 250,000 2.550% 264,675 11/27/19 07/16/24 0.30% 2.075% 255,223 Schlumberger Invt Sa - 3.65% 12/1/2023 A 250,000 3.650% 268,665 09/13/19 12/01/23 0.31% 2.301% 09/01/23 263,475 Schlumberger Invt Sa - 3.65% 12/1/2023 A 250,000 3.650% 268,665 09/08/20 12/01/23 0.32% 2.301% 09/01/23 272,235 Shell International Fin BV 3.400% 8/12/2023 AA- 250,000 3.400% 267,215 02/12/20 08/12/23 0.31% 1.585% 265,393 Southern CA Gas 3.2% 6/15/2025 A+ 250,000 3.200% 270,230 11/09/20 06/15/25 0.33% 0.826% 276,730 Sumitomo Mitsui Banking Corp 3.650%, 07/23/2025 A 250,000 3.650% 274,500 09/10/20 07/23/25 0.34% 0.856% 283,238 Suntrust Bank 3.00% 2/2/2023 A 250,000 3.000% 261,185 12/10/19 02/02/23 0.31% 1.947% 01/02/23 257,990 Toyota Motor Credit Corp - 3.35% 01/08/24 A+ 250,000 3.350% 269,323 05/19/20 01/08/24 0.32% 1.214% 268,910 Subtotal $7,738,000 $8,128,170 9.63% 1.557% $8,118,211
Municipal Bonds Bay Area Toll Auth Calif Toll - 2.254%, 04/01/2024 AA $ 445,000 2.254% $ 465,479 10/21/20 04/01/24 0.56% 0.593% $ 470,209 Brick Twp N J - 4.000%, 11/15/2023 - 250,000 4.000% 271,323 08/19/19 11/15/23 0.31% 2.469% 265,308 California St - GO High Speed PA 2017A 2.367%, 04/01/2022 AA- 250,000 2.367% 255,078 03/04/20 04/01/22 0.31% 0.860% 257,710 Clark Cnty Nev Sch Dist 5.51%, 6/15/2024 A+ 235,000 5.510% 256,049 08/19/19 06/15/24 0.31% 2.717% 264,464 Clark Cnty Nev Sch Dist - 5.51% 6/15/2024 A+ 225,000 5.510% 245,153 07/11/19 06/15/24 0.30% 2.717% 252,092 Colony Tex Loc Dev Corp 3.366% 10/01/2023 AA+ 250,000 3.366% 266,980 09/24/20 10/01/23 0.32% 0.847% 268,735 Cuyahoga Cnty Ohio Ctfs Partn - 5.00%, 12/01/2023 AA- 335,000 5.000% 359,170 08/25/20 12/01/23 0.45% 0.890% 379,150 Fort WorthTX SPL Tax Rev 5% 3/1/2024 - 250,000 5.000% 279,978 07/10/20 03/01/24 0.34% 1.054% 285,153 Garfield Cnty 6%, 09/01/2024 A 250,000 6.000% 276,663 01/14/20 09/01/24 0.34% 2.927% 09/01/21 283,038 Greensboro N C LTD Oblig Tax Bds 2018 - 3.074%, 2/1/2024 AA+ 250,000 3.074% 264,308 08/22/19 02/01/24 0.31% 1.824% 263,275 Hillsborough Cnty FL Sch Brd 1.815%, 07/01/2024 AA- 155,000 1.815% 160,458 03/08/21 07/01/24 0.19% 0.711% 160,592 Laurel Cnty KY Judicial Ctr PU 5%, 3/1/2025 - 200,000 5.000% 232,986 04/17/20 03/01/25 0.27% 1.624% 231,430 Louisiana St Citizens Ppty Ins Corp Assmt Rev -2.64%, 06/01/2024 AA 225,000 2.640% 237,670 09/03/19 06/01/24 0.28% 1.666% 234,950 Louisiana St Univ & Agric & Mechanical College Brd 5%, 07/01/2024 n/a 250,000 5.000% 285,378 08/25/20 07/01/24 0.34% 0.857% 289,088 Massachusetts St Hsg Fin Agy - 3.300%, 06/01/2024 AA 205,000 3.300% 219,403 03/19/20 06/01/24 0.25% 2.600% 211,474 New Yrok City Fin Auth Revenue 4.867% 8/1/2024 AAA 225,000 4.867% 254,005 12/18/20 08/01/24 0.31% 0.643% 258,944 New York ST Dorm Auth St Pers 4.992%, 3/15/2022 AA+ 225,000 4.992% 233,971 02/12/19 03/15/22 0.28% 2.763% 239,756
AGENDA ITEM NO: 4.D MEETING DATE: 06/21/2021 EXHIBIT B: PAGE 2 of 4 Alameda Municipal Power DETAIL OF INVESTMENT PORTFOLIO April 30, 2021
Investment Custodian / Par Coupon Current Date of Date of % of Yield to Call Book Value Description S&P Rating Value Rate Market Value Investment Maturity Portfolio Maturity Date Purchase Price
Oneida CNTY NY Pub Impt BDS 6.500%, 04/15/2023 AA 115,000 6.500% 126,245 11/28/18 04/15/23 0.15% 3.665% 128,076 Pasadena Calif Pension Oblig 3.34%, 5/1/2024 AAA 250,000 3.340% 271,463 08/22/19 05/01/24 0.32% 1.840% 266,780 Pennsylvania Hsg Fin Agy Single Family Mtg Rev 2.875% 10/1/2024 AA+ 400,000 2.875% 426,192 04/20/21 10/01/24 0.51% 0.873% 427,132 Plum Boro PA Sch Dist GO Bds B 2.976%, 09/15/2021 AA 200,000 2.976% 201,966 02/05/19 09/15/21 0.24% 2.800% 200,876 Portl & Ore Pension Oblg Rev 7.701%, 06/01/2022 n/a 160,000 7.701% 168,768 02/20/19 06/01/22 0.21% 3.859% 178,760 Royse City Tex - 3%, 08/15/2022 AA 250,000 3.000% 258,915 09/24/20 08/15/22 0.31% 0.350% 262,480 Rutgers St Univ NJ - 2.161%, 05/01/2024 A+ 250,000 2.161% 259,948 10/23/20 05/01/24 0.31% 1.080% 259,285 Sacramento CA Transient Occupancy Tax 3.574% 6/1/2022 - 250,000 3.574% 254,773 07/31/20 06/01/22 0.30% 1.965% 257,205 St. Louis Cnty Mo Spl Oblig AA 150,000 1.000% 150,825 03/08/21 12/01/25 0.18% 0.881% 150,824 Stockton CA Redev Agy - 2.375%, 09/01/2022 AA 250,000 2.375% 255,075 10/23/20 09/01/22 0.31% 0.474% 258,768 University Alaska Univ Revs - 4%, 10/1/2023 A+ 225,000 4.000% 243,635 09/03/19 10/01/23 0.29% 1.436% 247,772 W Covina CA Pub Finf Auth 2.168% 8/1/2024 A+ 100,000 2.168% 102,997 07/24/20 08/01/24 0.12% 2.168% 100,000 W Covina CA Pub Finf Auth 2.318% 8/1/2025 A+ 250,000 5.000% 258,705 08/03/20 08/01/25 0.30% 1.750% 256,755 Washington Fed Hwy Grnt Anticrev - Sr 520 Corridor Prog 5%, 09/01/2021 AA 250,000 5.000% 254,070 03/12/20 09/01/21 0.31% 1.148% 263,888 West Covina Calif Pub Fing Auth Lease Rev 3.768%, 05/01/2022 A+ 225,000 3.768% 231,550 12/13/18 05/01/22 0.27% 3.139% 229,500 Yuba Cnty Calif Ctfs Partn - Clean Renew Energy Proj 3.750%, 12/01/2022 AA 225,000 3.750% 236,819 12/13/18 12/01/22 0.27% 3.276% 228,938 Subtotal $7,775,000 $8,265,992 9.88% 1.772% $8,332,402
Certificates of Deposit Allegiance BK Houston, TX $ 250,000 2.200% $ 257,845 10/26/17 11/03/22 0.30% 2.200% $ 250,000 Ally Bk Midvale Utah - Death Put 250,000 2.500% 256,638 05/28/19 06/06/22 0.30% 2.500% 250,000 American Express Centurion Salt Lake City, UT 72,000 3.593% 74,187 09/11/17 09/06/22 0.09% 2.340% 72,252 American Express Centurion Salt Lake City, UT 177,000 3.599% 182,434 09/08/17 09/12/22 0.21% 2.400% 177,000 Bank Hapoalim BM NY 0.2% 11/17/2022 250,000 0.200% 250,308 11/12/20 11/17/22 0.30% 0.200% 250,000 BMO Harris Bank 0.55% 7/29/2024 250,000 0.550% 246,525 07/28/20 07/29/24 0.30% 0.550% 10/29/20 250,000 BMO Harris Bank 0.3% 8/28/2023 250,000 3.000% 247,293 08/12/20 08/28/23 0.30% 0.300% 250,000 BMW BK N Amer Salt Lake City, UT 250,000 1.800% 256,860 12/17/19 12/20/22 0.30% 1.800% 250,000 Capital One Bank (Usa) Nat 2.650%, 05/30/2024 250,000 2.650% 268,458 09/15/20 05/30/24 0.32% 0.500% 269,721 Capital One NA Mclean, VA 74,000 3.389% 76,293 09/19/17 09/27/22 0.09% 2.300% 74,000 Citibank NA Sioux Falls SD 250,000 3.550% 271,440 12/10/19 11/24/23 0.31% 1.943% 265,225 Comenity Capital Bk Draper UT 250,000 2.700% 268,975 04/27/20 06/14/24 0.32% 1.068% 266,420 Discover BK - 3.50%, 11/07/2025 160,000 3.500% 179,800 02/01/21 11/07/21 0.22% 0.524% 182,386 Enerbank USA Salt Lake City UT 225,000 1.100% 231,001 04/17/20 03/13/25 0.26% 1.306% 222,806 First National Bank Albany TX 0.2% 7/25/22 200,000 0.200% 200,248 07/07/20 07/25/22 0.24% 0.200% 200,000 Flagstar Bk Fsb Troy Mich - 1.25% 04/30/25 250,000 1.250% 258,128 05/12/20 04/30/25 0.30% 0.991% 253,122 Goldman Sachs Bk Usa - 3.3%, 8/21/2024 250,000 3.300% 269,745 08/12/20 01/31/24 0.33% 0.402% 274,881 Goldman Sachs Bk Usa - 2.45%, 08/16/24 225,000 2.450% 240,928 09/29/20 08/16/24 0.29% 0.506% 241,790 Magnolia Bk Inc KY - .40%, 04/30/2025 300,000 0.400% 299,622 10/14/20 04/30/25 0.36% 0.400% 300,000 Marlin Business Bank Salt Lake 0.1% 12/30/2022 125,000 0.100% 124,941 12/18/20 12/30/22 0.15% 0.100% 125,000 Merrick Bank, South Jordan, UT 223,000 3.182% 224,962 10/03/17 10/12/21 0.26% 2.000% 223,000 MID MO Bk Springfield MO 250,000 0.900% 254,725 04/27/20 03/25/25 0.30% 0.832% 250,813 Morgan Stanley Bk N A - 3.4%, 12/06/2022 250,000 3.400% 263,110 09/29/20 12/06/22 0.32% 0.267% 267,061 Morgan Stanley Bank 3.2% 5/24/2023 125,000 3.200% 132,849 12/18/20 05/24/23 0.16% 0.353% 133,614 Morgan Stanley PVT Bank Pur NY - 3.55% 11/24/23 240,000 3.550% 260,582 05/29/20 11/24/23 0.31% 0.003% 262,511 New York Community Bank - 0.150%, 11/09/2022 250,000 0.150% 250,118 10/27/20 11/09/22 0.30% 0.150% 250,000 New York Community Bank 0.2% 12/12/22 135,000 0.200% 135,165 12/09/20 12/12/22 0.16% 0.200% 135,000 Sallie Mae Bk Slt Lake City Ut 250,000 2.500% 256,410 05/20/19 05/23/22 0.30% 2.500% 250,000 State Bk India New York N Y - 3.25%, 9/25/2023 250,000 3.250% 267,175 03/10/20 09/25/23 0.32% 1.102% 268,571 Synchrony Bank 3.3% 2/28/2024 255,000 3.300% 275,655 07/07/20 02/28/24 0.33% 0.592% 279,842 Synchrony Bank 3.3% 1/24/2024 250,000 3.300% 269,618 07/28/20 01/24/24 0.32% 0.568% 273,563 Synchrony Bank - 3.2%, 5/18/2023 250,000 3.200% 265,580 03/04/20 05/18/23 0.32% 1.295% 266,576 Texas Exchange Bank SSB 1.9%, 02/02/2024 250,000 0.700% 250,178 05/26/20 06/07/24 0.30% 0.700% 09/08/20 250,000 Texas Exchange BK Crowley 0.45%, 08/21/2024 250,000 45.000% 250,063 08/12/20 08/21/24 0.30% 0.450% 11/21/20 250,000 Texas Exchange BK SSB Crowley 0.5%, 02/12/2025 170,000 0.500% 170,097 02/01/21 02/12/25 0.20% 0.500% 05/12/21 170,000 Total $7,706,000 $7,987,951 9.43% 0.973% $7,955,154 Grand Total $ 84,331,525 0.692% $ 84,340,294
(1) Portfolio details are based on available third-party statements as of 04/30/21
AGENDA ITEM NO: 4.D MEETING DATE: 06/21/2021 EXHIBIT B: PAGE 3 of 4 Alameda Municipal Power Supplemental Schedule Sources of Investments & Investment Portfolio April 30, 2021
SOURCES FOR INVESTMENTS
Account Operating Funds $18,601,818 Liabilities Balancing Account 10 3401 27,350, 493 Clean Future Fund 10 3147 100,439 Donations to Alameda United School District 10 3151 9,872 Reserves For Special Purposes Insurance Reserve Special Fund 10 2107 1,200,000 Underground Fund Carryforward 03/31/2021 10 2111 $ 13,070,350 Fiscal Year (FY) 2021 - April, 2021 Undergrounding Funding 10 2111 104,583 Underground Special Fund Used in April, 2020 - FY 2021 10 2111 (11,805) Net - Underground Fund Available (Deficiency) 13,163, 128 Renewable Energy Credits Net Revenue Reserve 10 2113 18,841, 157 Cap & Trade Net Revenue Reserve 10 2114 2,467,538 Low Carbon Fuel Standards Revenue Reserve 10 2115 2,605,847 Total Sources For Investments $84,340,294
Operating Funds, 18,601,818, 22% Reserves, 38,277,670, 45%
Liabilities, 27,460,805, 33% Source for Investments
AGENDA ITEM NO: 4.D MEETING DATE: 06/21/2021 EXHIBIT B: PAGE 4 of 4 AGENDA ITEM NO: 4.E.1 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-67 ACTION: BY RESOLUTION
To: Honorable Public Utilities Board Submitted by: ______/S/ Robert Orbeta AGM - Administration
From: Sophie Saad Finance and Billing Manager Approved by: /S/ Nicolas Procos General Manager
Subject: Adopt Resolution Approving a Budget Policy for Alameda Municipal Power with an Effective Date of July 1, 2021 ______
RECOMMENDATION
By resolution, it is recommended that the Public Utilities Board (Board) approve a Budget Policy for Alameda Municipal Power (AMP) with an effective date of July 1, 2021.
BACKGROUND
Staff periodically submits information to the Board outlining highlights from the Budget Policy and requests comments on procedures and methods used to develop detailed budgets for the enterprise. Periodic review of the Budget Policy is an important element of the management and control of financial activities. The Board last adopted a Budget Policy at its regular meeting of June 17, 2019.
DISCUSSION
The budget is a financial document used to project next year’s income and expenses. The budget is developed with sufficient detail to estimate projected income, expenses, and changes to the balance sheet. The budget provides a means of documenting the work plans of the organization and serves as a planning tool for revenue and expense cost control. The budget incorporates detailed cost accounts which are summarized into the Income Statement. The budget is used to plan cash requirements for financing activity and documents prioritization for capitalization activity.
In the Financial and Operating Report issued each month, staff presents to the Board specific information on the monthly and period-to-date budget. The purpose of this information is to allow for a comparison of actual expenses on the Income Statement and Balance Sheet to the budgeted plan. AGENDA ITEM NO: 4.E.2 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-67
AMP follows these general procedures in establishing the budgetary data reflected in the financial statements:
1. Staff shall conduct an Annual Planning Workshop to consider activities that have been completed, activities that are in progress, and activities that must be undertaken to accomplish goals and objectives; 2. Staff shall conduct a Budget Planning Workshop to present a) specific work plans to be implemented in upcoming fiscal years to accomplish goals and objectives, b) draft revenue and expense projections, and c) financial impacts of the planned activity; 3. Staff shall submit to the Board a proposed operating budget for the fiscal year commencing the following July 1 which includes proposed expenditures and the means of financing them; 4. Ratepayer comments are solicited during regular Public Utilities Board meetings; 5. The budget is enacted through adoption of a resolution; 6. The General Manager shall be authorized to implement and manage the budget subject to the constraints inherent in or implied in the Budget Policy; 7. The General Manager shall be authorized to transfer budgeted amounts between divisions, sections, cost codes, and capital work activities, up to $100,000 per transfer request. The General Manager may delegate this authority to the Assistant General Managers and Supervisors up to $50,000 and $10,000 respectively; however, any revisions that increase total expenditures must be approved by the Board; and new projects/capital work greater than $75,000 must be approved by the Board. 8. Expenditures may not legally exceed budgeted appropriations at the fund level without Board approval; 9. Unexpended appropriations lapse at fiscal year-end and must be reappropriated in the following year; 10. Formal budgetary integration is employed as a management control device during the year; 11. Budgets are adopted on a basis consistent with generally accepted accounting principles (except that AMP budgets capital asset outlays as current year expenditures); and 12. AMP may budget debt principal repayments, reserve funding, capital projects, and other activities requiring cash outlays, as current year expenditures. During development of the budget, staff shall give consideration to the following information and shall balance the needs of each operating unit:
1. Customer activity including usage estimates by major categories; 2. Revenue estimates and rate adjustment impacts; 3. Staffing level, pay scale adjustment, benefits, overtime percentage, fund allocation; AGENDA ITEM NO: 4.E.3 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-67
4. Cost of planned service contracts, new service requirements, planned City allocations, and any planned marketing activity including revenue reduction activity; 5. Material for Inventory, material issued from inventory, and close-out of continuing work; 6. Non-operating adjustments including reserves, debt service, City Transfers, interest, etc.; 7. Capital Equipment planned to be purchased during the fiscal year; 8. Capital Project work planned to be performed during the fiscal year; 9. Mandated reporting and compliance costs; and 10. Power purchase and reserve funding needs.
FINANCIAL IMPACT
None.
LINK TO STRATEGIC PLAN AND METRICS
Business Resiliency: AMP must maintain its competitiveness and financial performance by utilizing its sustainable resources and through operational excellence.
Optimizing AMP’s resources, organization, and business processes is fundamental to meeting our customers’ needs and maintaining our value in the community. Maintain rates at 15 percent or more below PG&E and 10 percent or more below local CCAs
EXHIBIT
A. Resolution Approving a Budget Policy for Alameda Municipal Power with an effective date of July 1, 2021.
CITY OF ALAMEDA ALAMEDA MUNICIPAL POWER
RESOLUTION NO. _____
APPROVING A BUDGET POLICY FOR ALAMEDA MUNICIPAL POWER WITH AN EFFECTIVE DATE OF JULY 1, 2021 ______
WHEREAS, the Public Utilities Board hereby finds that the following policy provides reasonable guidelines for the preparation of the fiscal year budget; and
WHEREAS, the Public Utilities Board desires to have thoughtful consideration and comment given to planned activities for the fiscal year by both the public and staff; and,
WHEREAS, it is the objective of the Public Utilities Board to reasonably determine the expected revenue and expenses for the fiscal year.
NOW THEREFORE BE IT RESOLVED that the Public Utilities Board hereby approves the following Budget Policy to be effective July 1, 2021:
A. Objectives
A basic premise underlying Alameda Municipal Power’s Budget Policy shall be to ensure that thoughtful consideration is given to planned activity, comments are solicited from both the Public and the Board, reasonable determination of revenue and expenses is undertaken by staff, and that budgetary integration is employed as a management control device within the accounting system.
Every two years, staff shall appropriately amend the Budget Policy and present the policy to the Board for their review and adoption during the budget approval period.
B. Budget Criteria
Alameda Municipal Power (AMP) shall follow these general procedures in establishing the budgetary data reflected in the financial statements:
1. Staff shall conduct an Annual Planning Workshop to consider activities that have been completed, activities that are in progress, and activities that must be undertaken to accomplish goals and objectives;
2. Staff shall conduct a Board Planning Workshop on finance & budget to present a) specific work plans to be implemented in upcoming fiscal years to accomplish goals and objectives, b) draft revenue and expense projections, and c) financial impacts of the planned activity;
AGENDA ITEM NO.: 4.E MEETING DATE: 06/21/2021 EXHIBIT A 3. Staff shall submit to the Board a proposed operating budget for the fiscal year commencing the following July 1 which includes proposed expenditures and the means of financing them;
4. Ratepayer comments will be solicited during regular Board meetings;
5. The budget shall be legally enacted through passage of a resolution by the Board;
6. The General Manager shall be authorized to implement and manage the budget subject to the constraints inherent in or implied by the Budget Policy;
7. The General Manager shall be authorized to transfer budgeted amounts between divisions, sections, cost codes, and capital work activities, up to $100,000 per transfer request. The General Manager may delegate this authority to the Assistant General Managers and Supervisors up to $50,000 and $10,000 respectively;
8. The General Manager shall assure that expenditures do not exceed budgeted appropriations at the fund level without prior Board approval;
9. The General Manager shall assure that new projects/Capital Work greater than $75,000 are approved by the Board and shall not be substituted with budgeted projects/Capital work.
10. Unexpended appropriations shall lapse at fiscal year-end and may be reappropriated in the following year if needed;
11. Formal budgetary integration shall be employed as a management control device during the fiscal year;
12. Budgets shall be adopted on a basis that is consistent with generally accepted accounting principles (except that AMP budgets capital asset outlays as current year expenditures); and,
13. AMP may budget debt principal repayments, reserve funding, capital projects, and other activities requiring cash outlays, as current year expenditures.
C. Budget Development Guidelines
During development of the budget, staff shall give consideration to the following information and shall balance the needs of each operating unit:
1. Customer activity including sales estimates by major categories; 2. Revenue estimates and rate adjustment impacts; 3. Staffing level, pay scale adjustment, benefits, overtime percentage, fund allocation; 4. Cost of planned service contracts, new service requirements, planned City allocations, and any planned marketing activity including revenue reduction activity; 5. Material for Inventory, material issued from inventory, and close-out of continuing work; 6. Non-operating adjustments including reserves, debt service, City Transfers, interest, etc.; 7. Capital Equipment planned to be purchased during the fiscal year; 8. Capital Project work planned to be performed during the fiscal year; 9. Mandated reporting and compliance costs; and 10. Power purchase and reserve funding needs.
D. Reports of Budget Activities
Staff shall report to the Board monthly on the status of Budget activity in the Financial & Operating Report.
Approved as to Form
By: ______/S/______Alan M. Cohen Assistant City Attorney AGENDA ITEM NO.: 4.F.1 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-68 ACTION: BY RESOLUTION
To: Honorable Public Utilities Board Submitted by: ______/S/ Robert Orbeta AGM – Administration
From: Sophie Saad Approved by: ______/S/ Financial & Utility Billing Manager Nicolas Procos General Manager
Subject: Adopt Resolution Approving an Investment Policy for Fiscal Year 2022 and Delegating Investment Authority per the Investment Policy to the General Manager of Alameda Municipal Power or His Designee ______
RECOMMENDATION
By resolution, it is recommended that the Public Utilities Board (Board) approve an Investment Policy for fiscal year (FY) 2022, and delegate investment authority per the Investment Policy to the General Manager of Alameda Municipal Power (AMP) or his designee.
BACKGROUND
Submittal of this report is in compliance with the Alameda City Charter and State of California’s Government Code Section 53646. Section 53646 of the State of California’s Government Code requires an annual submission of the Investment Policy to the governing body for consideration at a public meeting. Article XII, Sec.12-3, (F) of the City of Alameda Charter states that the Board shall have the power “To invest reserves as mandated by State Law”. In response to this directive, the Board has revised its investment policy to maintain consistency between the City of Alameda and AMP. As allowed, investment authority is further delegated by the Investment Policy to the General Manager of AMP or his designee.
The Board considers the Investment Policy each year with its last review occurring at its regular meeting of June 15, 2020. AGENDA ITEM NO.: 4.F.2 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-68
DISCUSSION
Annual review of the Investment Policy is a key element of the management and control of AMP’s financial activities. Each year, in order to exercise fiscal responsibility, staff reviews the Investment Policy to insure that it continues to comply with the State of California’s Government Code, remains in compliance with the City’s Investment Policy, and stays up-to- date with the current financial and investment environment. The results of the review are compiled and a revised Investment Policy is then submitted to the Board for discussion and adoption. During the annual audit, the independent auditor will review the policy to ensure it complies with the latest state laws and to evaluate whether AMP is in compliance with the requirements of the policy.
Past practice has been to match AMP’s Investment Policy to the permissible investment instruments and limits defined by the State of California’s Government Code. The Investment Policy presented to the Board maintains this practice. Presently, the maximum term of any investment is five years. Investing in instruments with terms greater than five years is permitted upon receipt of the Board’s approval. The criteria for selecting investments, in order of priority are:
A. Safety: Safety of principal is the foremost objective of the AMP’s investment program, followed by liquidity and yield. Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in AMP’s portfolio. To obtain this objective, AMP will diversify its investments by investing funds among a variety of securities offering varying risk and return characteristics. Each investment transaction shall seek to first ensure that capital losses are avoided from securities default or erosion of market value. Investment decisions should not incur unreasonable investment risks in order to obtain current investment income.
B. Liquidity: AMP’s investment portfolio will remain sufficiently liquid to enable AMP to meet all operating requirements, which might be reasonably anticipated. This need for investment liquidity may be tempered to the extent that AMP is able to issue short-term notes to meet its operating requirements. Emphasis will be on marketable securities with low sensitivity to market risk. Maturities of investments for which there is limited opportunity for resale shall be staggered to maximize liquidity.
C. Return: AMP maintains an active investment strategy and its investment portfolio shall be designed to attain a rate of return, which approximates benchmarks to be selected by AMP’s Public Utilities Board (PUB) throughout budgetary and economic cycles, taking into account AMP’s investment risk constraints, the cash flow characteristics of the portfolio, and state and local laws, ordinances or resolutions that restricts the investment of funds. AGENDA ITEM NO.: 4.F.3 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-68
D. Other Preferences: Where all other factors are equal, as a final consideration the following preferences for investing in institutions will be given in order: a. Institutions principally located in the City of Alameda b. Institutions principally located in the County of Alameda c. Institutions principally located in the State of California d. Institutions principally located in the United States of America
E. Other Objectives: Investments, which serve to enrich only a few to the detriment of the people, will be strictly avoided. No investment is to be made in a company that receives more than 51% of gross revenues from the production or manufacture of cigarettes, alcohol, or gambling products, nor is any investment to be made in any company involved in the coal industry (defined as any company classified under Bloomberg Industry Classification Systems (BICS) code 131016).
F. Performance Standards: The investment portfolio will be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with investment risk constraints and cash flow needs. AMP’s basic investment strategy is to actively manage its investment portfolio. A security maybe sold due to adverse changes in credit risk or due to unexpected cash flow needs.
Each month, AMP will provide the Treasurer’s Report indicating the amount of investment in each institution and the accompanying yields.
FINANCIAL IMPACT
None
LINK TO STRATEGIC PLAN AND METRICS
Business Resiliency: AMP must maintain its competitiveness and financial performance by utilizing its sustainable resources and through operational excellence.
EXHIBIT
A. Resolution Approving the AMP’s FY 2022 Investment Policy CITY OF ALAMEDA ALAMEDA MUNICIPAL POWER
RESOLUTION NO. _____
APPROVING AN INVESTMENT POLICY FOR FISCAL YEAR 2022 AND DELEGATING INVESTMENT AUTHORITY PER THE INVESTMENT POLICY TO THE GENERAL MANAGER OF ALAMEDA MUNICIPAL POWER OR HIS DESIGNEE ______
WHEREAS, it is the objective of the Public Utilities Board (Board) to maintain adequate cash availability in AMP’s operating accounts and to strive for maximum yield on invested funds not required for immediate expenditure while ensuring that the principal invested is protected from loss; and,
WHEREAS, the Board hereby finds that the following policy ensures that funds not required for immediate expenditure are invested in compliance with this statement, as well as applicable federal, state and local legislation governing the investment of public funds. Funds shall be invested in a manner that will provide the highest investment return with the appropriate level of security, while meeting the daily cash flow demands of AMP.
NOW THEREFORE BE IT RESOLVED that the Board hereby approves the following Investment Policy:
I. Statement of Purpose and Adoption of Policy
It shall be the investment policy of AMP that all funds not required for immediate expenditures are invested in compliance with this statement, as well as applicable federal, state and local legislation governing the investment of public funds. Funds shall be invested in a manner that will provide the highest investment return with the appropriate level of security, while meeting the daily cash flow demands of AMP.
Safeguards will be set into place to ensure that adequate operating reserves are established and maintained to provide that cash, in sufficient amounts, will be available to pay for immediate expenditures as authorized by AMP’s Budget. Funds so maintained will be deposited in a manner best serving AMP.
It will be further recognized that AMP has a responsibility to monitor the security of its assets and always maintain a level of quality so that the public at large will have the highest confidence that its best interests are being served.
The purpose of this document is to identify various policies and procedures that enhance opportunities for a systematic investment process. The initial step toward a prudent investment policy is to organize and formalize investment related activities. Related activities, which
AGENDA ITEM NO.: 4.F MEETING DATE: 06/21/2021 EXHIBIT A comprise good cash management, include accurate cash projection, the expeditious collection of revenue, the control of disbursements, cost effective banking relations, and a short-term borrowing program, which coordinates working capital requirements and investment opportunities. In concert with these requirements are the many facets of an appropriate and secure investment program.
AMP’s Investment Policy shall be adopted by the PUB. The policy shall be reviewed at least annually by the General Manager and the Assistant General Manager-Administration, and any modifications must be approved by the PUB.
Any investment currently held that does not meet the guidelines of this policy shall be exempted from the requirements of this policy. At maturity or liquidation, such funds shall be reinvested only as provided by this policy.
II. Scope
It is intended that this policy cover all operating funds and investment activities under the direct authority of AMP. These funds are described in the AMP’s Comprehensive Annual Financial Report (CAFR) and include its Operating Fund, Capital Projects Funds, Special Revenue Funds, Fiduciary Funds and Trust Funds.
This investment policy applies to all transactions involving the financial assets and related activities of the foregoing funds. Except for cash held in separate restricted funds, AMP will pool cash balances from all funds for investments to maximize earnings and efficiencies with regards to investment pricing, safekeeping and administration. Investment income will be allocated to AMP based upon their respective average monthly balances and in accordance with Generally Accepted Accounting Principles (GAAP).
This investment policy does not apply to bond or debt proceeds, deferred compensation funds, retirement or other post-employment benefits trust funds as these are governed under separate California Government Code sections or other documentation.
III. Objectives and Performance Standards
The primary objectives, in priority order, of AMP’s investment activities shall be:
A. Safety: Safety of principal is the foremost objective of AMP’s investment program, followed by liquidity and yield. AMP’s Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in AMP’s portfolio. To obtain this objective, AMP will diversify its investments by investing funds among a variety of securities offering varying risk and return characteristics. Each investment transaction shall seek to first ensure that capital losses are avoided from securities default or erosion of market value. Investment decisions should not incur unreasonable investment risks in order to obtain current investment income. B. Liquidity: AMP’s investment portfolio will remain sufficiently liquid to enable AMP to meet all operating requirements, which might be reasonably anticipated. This need for investment liquidity may be tempered to the extent that AMP is able to issue short-term notes to meet its operating requirements. Emphasis will be on marketable securities with low sensitivity to market risk. Maturities of investments for which there is limited opportunity for resale shall be staggered to maximize liquidity.
C. Return: AMP maintains an active investment strategy and its investment portfolio shall be designed to attain a rate of return, which approximates benchmarks to be selected by AMP’s Public Utilities Board throughout budgetary and economic cycles, taking into account AMP’s investment risk constraints, the cash flow characteristics of the portfolio, and state and local laws, ordinances or resolutions that restricts the investment of funds.
D. Other Preferences: Where all other factors are equal, as a final consideration the following preferences for investing in institutions will be given in order:
a. Institutions principally located in the City of Alameda b. Institutions principally located in the County of Alameda c. Institutions principally located in the State d. Institutions principally located in the United States
E. Other Objectives: Investments are to be made that will bear in mind the responsibility of AMP to its ratepayers. Alternative investments, which enhance the quality of life, will be given full consideration. Investments, which serve to only enrich a few to the detriment of the people, will be strictly avoided. No investment is to be made in a company that receives more than 51% of gross revenues from the production or manufacture of cigarettes, alcohol, or gambling products, nor is any investment to be made in any company involved in the coal industry (defined as any company classified under Bloomberg Industry Classification Systems (BICS) code 131016). In addition, investing in Wells Fargo securities, when Wells Fargo is the issuer, will be prohibited at least until 2021.
F. Performance Standards: The investment portfolio will be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with investment risk constraints and cash flow needs. AMP’s basic investment strategy is to actively manage its investment portfolio. A security may be sold due to adverse changes in credit risk or due to unexpected cash flow needs. The total return benchmark used by AMP shall be the Secured Overnight Financial Rate (SOFR), 3-Year US Treasury Rates, and Local Agency Investment Fund (LAIF). IV. Prudence and Risk Tolerance
AMP recognizes that investment risks of the following can result from issuer defaults, market price changes or various technical complications leading to temporary illiquidity:
A. Credit risk is the possibility that deterioration of an issuer’s creditworthiness will adversely affect the value of its bonds or that an issuer will not make timely payments of interest or principal on its bonds (default). A decline in a bond issuer’s credit rating, or creditworthiness, may cause prices for its outstanding bonds to decline. This shall be mitigated by limiting investments to those allowed under this policy and by diversification.
B. Market or Interest Rate risk, defined as market value fluctuations due to overall changes in market price, shall be mitigated by eliminating the need to sell securities prior to maturity and investing operating funds primarily in shorter-term securities, money market funds or similar investment pools, thereby limiting the average maturity of the portfolio. Investments shall be made with the exercise of that degree of judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation but for investment, considering the safety of their capital as well as the income to be derived.
In accordance with Government Code section 53600.3, the standard of prudence to be used by investment officers shall be the "prudent investor standard”, and shall be applied in the context of managing an overall portfolio. Investment officers acting in accordance with written procedures and AMP’s investment policy and exercising due diligence shall be relieved of personal liability for an individual security credit risk or market price changes, provided that deviations from expectations are reported in a timely fashion, and appropriate action is taken to control adverse developments.
V. Internal Controls
The Assistant General Manager-Administration (AGM) will establish a system of internal controls, which shall be documented in writing. The controls shall be designed to prevent losses of funds arising from fraud, employee error, and misrepresentation by third parties, unanticipated changes in financial markets or imprudent actions by employees and board members. Controls deemed most important include: control of collusion, segregation of duties, separating transaction authority from accounting and recordkeeping, custodial safekeeping, clear delegation of authority, written confirmation of telephone transactions, minimizing the number of authorized investment officials, documentation of transactions and strategies, and code of ethical standards. In addition, whenever possible, pre-formatted wire transfers will be used to transfer funds to pre-authorized accounts.
The AGM shall establish an annual process for independent review of these controls by an external auditor. This review will help to ensure compliance with AMP’s investment policies and procedures. VI. Investment Procedures and Delegation of Authority
Article V of Article XII, Sec.12-3, (F) of the City of Alameda Charter, the Board has been assigned the investment authority for Alameda Municipal Power (AMP). This authority is hereby delegated to the General Manager of AMP, or his designee. Further, Section 53636 of the Government Code of the State of California provides that money on deposit is deemed to be in the treasury of AMP. Although the responsibility for the oversight of AMP’s investment program resides with the PUB, the day to day investment function is hereby delegated to the General Manager or his designee, who shall establish written procedures for the operation of the investment program, consistent with this investment policy.
Such procedures shall include a system of controls and explicit delegation to subordinate staff of authority for all investment activities, including investment transactions, procedures addressing safekeeping, wire transfer agreements, contracts, banking services, and procedures to be used in the absence of the General Manager. No person shall engage in an investment activity except as provided for in the documented system of the internal controls and procedures.
AMP may engage the services of one or more external investment managers to assist in the management of AMP’s investment portfolio in a manner consistent with AMP’s objectives. Such external managers may be granted discretion to purchase and sell investment securities in accordance with this Investment Policy. Such managers must be registered under the Investment Advisers Act of 1940.
VII. Safekeeping and Custody
Guidelines - All security transactions entered into by AMP shall be conducted on a delivery versus payment (DVP) basis as evidenced by safekeeping receipts in AMP’s name.
To protect against fraud and embezzlement, the investment securities of AMP shall be held in AMP’s safe or held by a third party custodian according to established safekeeping procedures. Custody will be evidenced by safekeeping receipts.
Securities purchased from brokers/dealers shall be held in a third party custodian account, which AMP has established for safekeeping. Said securities are to be held in the name of AMP with the trustee executing investment transactions as directed by the General Manager or his designee.
Receipts for confirmation of purchase of authorized securities must include trade date, pay value, maturity, rate, price, yield, and settlement date, description of securities purchased, agency's name, and third party custodian information.
Trust Agreements - AMP shall direct the investment activities of trustees. Such direction shall be in keeping with the terms and condition of its trust agreements, applicable law and policies set forth in the Investment Policy. In addition to the acceptable investment instruments listed in Section IX, A thru K, bonds proceeds may be invested in securities permitted under Section 53635 and other investment instruments allowed by State law, and which comply with requirements imposed by bond insurance and rating agencies.
VIII. Authorized Banks and Financial Securities Dealers and Institutions
The General Manager or his designee shall approve all financial institutions from which securities are purchased. Deposits shall only be made in a qualified public depository as allowed under State Statute. In selecting financial institutions for the deposit or investment of AMP funds, the General Manager or designee will consider the credit rating of the institutions. These financial institutions shall be authorized to provide investment services in the State of California.
All financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply AMP with the following: audited financial statements, proof of National Association of Security Dealers certification, trading resolution, proof of state/province registration, a completed broker/dealer questionnaire, and a written certification agreeing to abide by AMP’s investment policy and depository contracts.
An annual review of the financial condition and registrations of qualified bidders may be conducted by the General Manager or designee. As part of any review performed, a current audited financial statement will be obtained for those financial institutions and brokers/dealers subject to review. Whenever reasonable a competitive bid process, utilizing a minimum of three financial institutions deemed eligible will be used to place investment purchases. AMP shall transact business only with banks, savings and loans, and with brokers/dealers approved by the PUB. If AMP contracts with an outside investment manager, the investment manager may use its own list of authorized broker/dealers to conduct transactions on behalf of AMP. The investment manager shall provide AMP with their list of approved broker/dealers annually. IX. Authorized Investments, Maximum Maturities and Investment Amounts
Concentration limits and credit criteria apply at time of purchase. The following represent the maximum maturities for and maximum percentage or dollar amounts that may be invested in specific investment types:
Maximum Minimum Required Investment Type * Maximum % or $ Maturity Rating *
Bank/Time Deposits None 5 years N/A
U.S. Treasuries None 5 years N/A
U.S. Agencies 75%; 25% for one issuer 5 years N/A Mutual Funds and Highest rating by 2 Money Market Funds 20% (10% with one issuer) 5 years NRSROs
Bankers Acceptances 30% (5% with one issuer) 180 days A1 or its equivalent A1 or its equivalent, A Commercial Paper rated issuer or its 25% (5% with one issuer) 270 days equivalent No rating for amount under FDIC insurance; 30% (combined with CDARS) Negotiable CDs 5 years A-1/A for amounts (5% with one issuer) greater then FDIC insurance Per State Statue LAIF ($75 million as of 1/1/20) N/A N/A
CAMP/Caltrust None N/A N/A CDs - non-negotiable / 30% (combined with NCDs) CDARS (5% with one issuer) 3 years N/A A (except City of Municipal Obligations 30% (5% with one issuer) 5 years Alameda bonds)
Medium Term Notes 30% (5% with one issuer) 5 years A or equivalent 15% (US Dollar denominated) Supranationals (10% with one issuer) 5 years AA or equivalent AA or equivalent rated Asset-Backed Securities 20% (5% with one issuer) 5 years issue
As specified in Government Code Section 53601, the PUB must expressly authorize the investment of funds that mature in excess of five years. Placement of such investments cannot occur until three months have lapsed from the date of authorization. Bond convenants may allow for a longer term investment for bond reserves held with a fiscal agent. It is the intent that investments shall be managed in such a way that any market price losses resulting from interest-rate volatility would be offset by coupon income and current income received from the overall portfolio over market cycles. To the extent possible, AMP will attempt to match its investments with anticipated cash flow requirements.
Pursuant to Government Code Section 53601 et seq. AMP may only invest in the following security types (See Attachment A – Glossary, for a detailed description of each of these investment types):
A. U.S. Government Treasury Bills and Notes
B. Federal Agency or U.S. Government-Sponsored Enterprise Debt (GSE) Obligations, Participations, or Other Instruments – including those issued by or fully guaranteed as to principal and interest by federal agencies or US government-sponsored enterprises.
C. Certificates of Deposit (non-negotiable) (CDs) – AMP is authorized to use of private CD placement services by local agencies. This investment policy allows for the use of a placement service called the Certificate of Deposit Account Registry Service (CDARS), which acts as the master custodian for the placement of CDs. Through the use of this placement service, local banks that work with CDARS place one investment by AMP and divide the deposit into individual CDs not to exceed $250,000, so that each individual CD is fully insured by the FDIC.
D. Bankers Acceptances (BA)
E. Commercial Paper - Prime commercial paper with an A1/P1 rating, or the equivalent, as provided for by a nationally recognized statistical-rating organization (NRSRO). Purchases must be limited to corporations organized and operating within the United States, having total assets in excess of $500 million, and has debt other than commercial paper, if any, rated in a rating category of “A” or its equivalent or higher by an NRSRO. In addition, purchases may not represent more than ten percent (10%) of the outstanding paper of an issuing corporation.
F. State of California Local Agency Investment Fund (LAIF)
G. CalTRUST
H. California Asset Management Program (CAMP)
I. Negotiable Certificates of Deposit - Must be issued by a nationally or state chartered bank, savings association or a federal association, a state or federal credit union, or by a federally- or state-licensed branch of a foreign bank. J. Medium Term Corporate Notes - Notes issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States. Eligible investments shall be rated in a rating category of “A” or its equivalent or better by an NRSRO.
If a corporate note owned by AMP is downgraded below the quality required by this Investment Policy, it shall be AMP’s policy to review the credit situation and make a determination as to whether to sell or retain such a corporate note in the portfolio.
a. If a security is downgraded two grades below the level required by AMP, the security shall be sold immediately.
b. If a security is downgraded one grade below the level required by this policy and matures within 6 months, the security will be held to maturity. The General Manager may determine to sell the security if it is determined that there is a probability of default prior to maturity. If a decision is made to retain the security in the portfolio, its presence in the portfolio will be monitored and reported quarterly to the PUB.
K. Municipal Obligations – Must be rated “A” or its equivalent or higher by an NRSRO except for AMP’s own bonds and bonds issued by the City of Alameda’s former Community Improvement Commission and its Financing Authority, which may have any rating. Municipal Obligations include the following:
a. Registered state warrants or treasury notes or bonds of the State of California and bonds, notes, warrants, or other evidences of indebtedness of any local agency within California, including bonds payable solely out of the revenues from a revenue producing property owned, controlled, or operated by the state or local agency or by a department, board, agency, or authority of the state or local agency.
b. Registered treasury notes or bonds of any of the 49 United States in addition to the State of California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 United States, in addition to the State of California.
L. Mutual Funds and Money Market Mutual Funds – that are registered with the Securities and Exchange Commission under the Investment Company Act of 1970, provided that:
a. Mutual Funds that invest in the securities and obligations as authorized under California Government Code, Section 53601 (a) to (k) and (m) to (q) inclusive and that meet either of the following criteria: 1. Attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs, or
2. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million.
3. No more than 10% of the total portfolio may be invested in shares of any one mutual fund.
b. Money Market Mutual Funds – registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and issued by diversified management companies and meet either of the following criteria:
1. Have attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs, or
2. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of $500 million.
3. No more than 10% of the total portfolio may be invested in Money Market Mutual Funds.
c. No more than 20% of the total portfolio may be invested in these securities.
M. Supranationals – Must be rated “AA” or its equivalent or higher by an NRSRO and is U.S. dollar denominated senior unsecured unsubordinated obligations issued by the International Bank for Reconstruction and Development, International Finance Corporation, or the Inter-American Development Bank.
N. Asset-Backed Securities (ABS) – Security must be rated “AA” or its equivalent or higher.
O. Prohibited Investments – AMP’s investment pool will not enter into repurchase or reverse repurchase agreements, mortgage backed securities/collateralized mortgage obligations, nor trade in options or future contracts. In accordance with Government Code Section 53601.6, no investment shall be made by AMP in any of the following instruments: inverse floaters, range notes, interest only strips, and any security that could result in zero interest accrual if held to maturity.
X. Due Diligence: Adding Investment Pools / Mutual Funds / Money Market Mutual Funds
Thorough investigations of the pool / fund are required prior to investing and on a regular basis. Information should be obtained from the pool / fund regarding the following items:
• Authorized Investments • Investment Policy and Objectives • Interest Calculations / Distributions • Investment Limitations • Fee Schedule / Who May Invest • Eligibility for holding Bond Proceeds • Frequency of Statements • Treatment of Gains and Losses • Safeguarding of Investments • Settlement Process • Deposit / Withdrawal Limitations • Utilization of Reserves by Fund
XI. Diversification
It is the policy of AMP to diversify the investment portfolio in order to reduce the risk of loss resulting from over concentration of assets in a specific maturity, a specific issuer or a specific class of securities. See Section IX for limitations by category on the investment of funds. Maturities shall be selected which provide for stability of income and reasonable liquidity. Concern for liquidity shall be insured through practices that include covering the next vendor disbursement date and payroll date through maturing investments. Risks of market price volatility shall be controlled through maturity and issuer diversification.
In order to reduce portfolio risk, AMP’s portfolio will be diversified by type and issuer. The portfolio shall be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. AMP shall diversify its investments by investing funds among a variety of securities offering independent returns and financial institutions. In a diversified portfolio, occasional measured losses are inevitable, and must be considered within the context of the overall portfolio’s investment return.
XII. Collateralization
Collateral for time deposit in savings and loans is to be held by the Federal Home Loan Bank. Collateral for time deposits in banks is to be held in AMP’s name in the bank trust department or by the Federal Reserve. Bank Collateralization is required on Certificates of Deposit (non- negotiable) in excess of $250,000. (California Government Code Section 53652 (a)). AMP chooses to limit collateral to eligible securities authorized under the Government Code.
Collateral pledged with a U. S. Treasury Bill or Note must be at least 110% of the face value of the investment. Collateral pledged with first mortgages must be at least 150% of the face value of the investment. The right of collateral substitution may be granted by AMP. Collateral will always be held by an independent third party with whom the financial institution has a current custodial agreement. These parties are limited to only those trust companies and trust departments, or the Federal Home Loan Bank of San Francisco, which have been approved by the California State Superintendent of Banks. XIII. Ethics and Conflicts Of Interest
Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Employees and investment officials shall disclose to AMP any material financial interests in financial institutions that conduct business within their jurisdiction, and they shall further disclose any large personal financial or investment positions that could be related to the performance of AMP.
These disclosure requirements shall include complying with the disclosure and disqualification requirements as established by the Fair Political Practices Commission and Conflict of Interest Codes of the City of Alameda. A copy of each Investment Official's Statement of Economic Interest, which is required to contain disclosure of any material financial interests in financial institutions doing business with AMP, shall be filed annually with the City of Alameda Clerk.
XIV. Reporting Requirements
The General Manager, or his designee, shall report monthly to the Public Utilities Board on the status of AMP’s investment portfolio. This report shall include the type of investment, issuer, investment maturity date, par value and dollar amount invested on all securities, current market value information as of the date of the report, source of the market value, and the yields on all investments.
The PUB will meet as needed or as market or economic condition changes to determine general strategies and to monitor results. The PUB shall include in its deliberations such topics as: economic outlook, portfolio diversification and maturity structure, potential risks to AMP’s funds, approval of authorized financial institutions, and the target rate of return on investment portfolio. The written investment procedures shall be reviewed by the PUB on an annual basis.
In accordance with Governmental Accounting Standards Board (GASB) Statement No. 31, “Accounting and Financial Reporting for Certain Investments”, as of June 30th of each Fiscal Year AMP will report all investments in excess of one year at market value. Any change in the value of the investments will be recognized on an annual basis, as a part of interest income. The monthly information shall state compliance of the portfolio with AMP’s investment policy, or the manner in which the portfolio is not in compliance. The monthly information shall also include a statement that AMP is able to meet its expenditure requirements for the next six months, or provide an explanation as to why sufficient money may not be available. The monthly information shall be submitted to the PUB within 30 days following the end of the month, or as soon as practicable after the data is available to AMP.
Approved as to Form
By: ______/S/ Alan Cohen Assistant City Attorney Attachment A Glossary
Accrued Interest: Coupon interest accumulated on a bond or note since the last interest payment or, for a new issue, from the dated date to the date of delivery.
Agencies: Federal agency securities and/or Government-sponsored enterprises. These include securities of government agencies such as, but not limited to: Federal National Mortgage Association (FNMA); Federal Home Loan Bank (FHLB); Government National Mortgage Association (GNMA); Community Development Corporation (CDC), Small Business Association (SBA), Tennessee Valley Authority (TVA), Federal Farm Credit Bank (FFCB) and Federal Home Loan Mortgage Corporation (FHLMC).
Arbitrage: Transactions by which securities are bought and sold in different markets at the same time for the sake of the profit arising from a yield difference in the two markets. The 1986 Tax Reform Act made this practice by municipalities illegal solely as a borrowing tactic, except under certain safe-harbor conditions.
Asked: The price at which securities are offered.
Asset-Backed Securities (ABS): Securities that are supported by pools of assets, such as installment loans or leases, or by pools of revolving lines of credits. Asset-backed securities are structured as trusts in order to perfect a security interest in the underlying assets.
Bank Deposits: To deposit collateral in the form of currency that may be in the form of demand accounts (checking) or investments in accounts that have a fixed term and negotiated rate of interest.
Bank Notes: A senior, unsecured, direct obligation of a bank or U.S. branch of a foreign bank.
Bankers’ Acceptance (BA): These are bills of exchange or time drafts drawn on, and accepted by, commercial banks in the top 100 of the world, which are eligible for purchase by the Federal Reserve System. Acceptance of the draft obligates the bank to pay the bearer the face amount of the draft at maturity. In addition to the guarantee by the accepting bank, the transaction is secured with a specific commodity. The sale of the underlying goods will generate the funds necessary to liquidate the indebtedness. BAs are usually created to finance the import and export of goods, the shipment of goods within the United States and the storage of readily marketable staple commodities. BAs are sold at a discount from par and the amount and maturity date are fixed. Basis Point: Refers to the yield on bonds. Each percentage point of yield in bonds equals 100 basis points (1/100% or 0.01%). If a bond yield changes from 7.25% to 7.39% that is an increase of 14 basis points.
Benchmark: A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the portfolio’s investments.
Bid: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer.
Bond Proceeds: The money paid to the issuer by the purchaser or underwriter of a new issue of municipal securities. These moneys are used to finance the project or purpose for which the securities were issued and to pay certain costs of issuance as may be provided in the bond contract.
Bonds: A debt obligation of a firm or public entity. A bond represents the agreement to repay the debt in principal and, typically, in interest on the principal.
Book Entry: The system maintained by the Federal Reserve, by which most money market securities are delivered to an investor’s custodial bank. The Federal Reserve maintains a computerized record of the ownership of these securities and records any changes in ownership corresponding to payments made over the Federal Reserve wire (delivery versus payment).
Book Value: The value at which a debt security is shown on the holder’s balance sheet. Book value is acquisition cost less amortization of any premium or discount.
Broker: A broker assists in the buying and selling of investments together for a commission.
California Asset Management Program (CAMP): CAMP is a money market portfolio rated AAAm by Standard and Poor’s and created for California Public Agencies. Similar to LAIF, CAMP provides daily liquidity, money market returns and unlimited number of deposits and withdrawals. CAMP may hold a broader range of securities that would not be eligible under AMP investment criteria. Since CAMP is subject to different statutory investment provisions, any such variances in their holdings are acceptable under this policy
Call Price: The price at which an issuer may redeem a bond before maturity
Callable Bond: A bond issue in which all or a part of its outstanding principal amount may be redeemed before maturity by the issuer under specified conditions
CALTRUST: a Joint Powers Authority created by public agencies to provide a convenient method for public agencies to pool their assets for investment purposes. CalTRUST is governed by a Board of Trustees made up of experienced local agency treasurers and investment officers. The Board sets overall policies for the program and oversees the activities of the investment manager and other agents.
CD Placement Service: A private CD placement service that allows local agencies to purchase more than $250,000 in CDs from a single financial institution (must be a participating institution of CDARS) while still maintaining FDIC insurance coverage. CDARS (Certificate of Deposit Account Registry System) is currently the only entity providing this service. CDARS facilitates the trading of deposits between the California institution and other participating institutions in amounts that are less than $250,000 each, so that FDIC coverage is maintained.
Certificate Of Deposit (CD): See “Non-Negotiable” and “Negotiable” Certificate of Deposit. Large-denomination CDs are typically negotiable.
Collateral: Securities, evidence of deposit or other property, which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.
Commercial Paper: Unsecured promissory notes issued to finance short term credit needs, with maturities ranging from 2 to 270 days. Unsecured promissory notes are issued to finance short term credit needs. The paper must be of "prime" quality of the highest ranking, or of the highest letter and numerical rating as provided by Moody's or Standard & Poor's. Eligible paper is further limited to issuing corporations that are organized and operate within the United States, have total assets in excess of $500 million, and have an 'A1-P1' rating for its debt from Moody's or Standard & Poor's.
Comprehensive Annual Financial Report (CAFR): The official annual report for AMP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section.
Corporate Notes and Bonds: Debt instruments, typically unsecured, issued by corporations, with original maturities in most cases greater than one year and less than ten years. Medium term notes (MTN) are unsecured, corporate and depository institution debt obligations. Allowable medium term notes must be issued by corporations organized and operating within the United States (U.S.) or by depository institutions licensed by the U.S. or any state and operating within the U.S. MTNs must be rated “A” or its equivalent or higher by Moody’s or Standard and Poor’s.
County Pooled Investment Funds: The aggregate of all funds from public agencies placed in the custody of the county treasurer for investment and reinvestment.
Coupon: (a) The annual rate of interest that a bond’s issuer promises to pay the bondholder on the bond’s face value and (b) a certificate attached to a bond evidencing interest due on a payment date.
Credit Rating: Various alphabetical and numerical designations used by institutional investors, Wall Street underwriters, and commercial rating companies to give relative indications of bond and note creditworthiness. Standard & Poor’s and Fitch Ratings use the same system, starting with their highest rating, of AAA, AA, A, BBB, BB, B, CCC, CC, C, and D for default. Moody’s Investors Service uses Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, and D. Each of the services use pluses (+), minuses (-), or numerical modifiers to indicate steps within each category. The top four letter categories are considered investment grade ratings.
Credit Risk: The chance that an issuer will be unable to make scheduled payments of interest and principal on an outstanding obligation. Another concern for investors is that the market’s perception of a corporation’s credit will cause the market value of a security to fall, even if default is not expected.
CUSIP Number: The Committee on Uniform Security Information Procedures (CUSIP) Number refers to a security’s identification number assigned to each publicly traded security by the CUSIP Service Bureau operated by Standard & Poor’s for the American Bankers Association. The CUSIP Number is a nine-character identifier unique to the issuer, the specific issue and the maturity, if applicable (the first six characters identifying the issuer, the next two identifying the security and the last digit provides a check digit to validate the accuracy of the preceding CUSIP number).
Custodian: A bank or other financial institution that keeps custody of stock certificates and other assets.
Dealer: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.
Debenture: A bond secured only by the general credit of the issuer.
Defeased Bond Issues: Issues that have sufficient money to retire outstanding debt when due so that the agency is released from the contracts and covenants in the bond document.
Delivery versus Payment: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities.
Derivatives: Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or financial contracts based upon amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities).
Discount: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price after sale is considered sold at a discount.
Diversification: Dividing investment funds among a variety of securities offering independent returns
Discount Securities: Non-interest bearing money market instruments that are issued a discount and redeemed at maturity for full face value, e.g., U.S. Treasury Bills.
Duration: A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices. Effective Duration: A measure of the price sensitivity of fixed-income investments, especially for those with embedded option features such as call options. As yields rise, the effective duration of a callable investment rises to reflect the fact that it has become less likely to be called. The more rates rise, the longer the effective duration will become, approaching the duration to maturity. The converse is true in a declining interest rate environment (that is, the more rates fall, the shorter the effective duration will become, approaching the duration to call). For securities without an embedded option, the duration to call, maturity, and effective duration are all the same. The calculation for effective duration involves averaging the duration under a simulation of many possible interest rate scenarios in the future.
Extendable Notes: Securities with maturity dates that can be extended by mutual agreement between the issuer and investor. When investing in these types of securities, the maturity date plus the stated extendable option must not exceed the time frames that are allowed in California Government Code or the investment policy for the investment type.
Federal Credit Agencies: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., banks, small business firms, students, farmers, farm cooperatives, and exporters.
Federal Deposit Insurance Corporation (FDIC): A federal agency that insures bank deposits, up to $250,000 per deposit.
Federal Funds Rate: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations.
Federal Home Loan Banks (FHLB): Government sponsored wholesale banks (currently 12 regional banks), which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLBs is to liquefy the housing related assets of its members who must purchase stock in their district Bank.
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A United States government sponsored corporation.
Federal National Mortgage Association (FNMA): FNMA, like GNMA, was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae is a private stockholder- owned corporation and its purchases include a variety mortgages and second loans. FNMA’s securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest.
Federal Open Market Committee (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money.
Federal Reserve System: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system.
Fiduciary: A person who holds something in trust for another and bears liability for its safekeeping.
Financial Industry Regulatory Authority (FINRA): A self-regulatory organization (SRO) of brokers and dealers in the over the counter securities business. Its regulatory mandate includes authority over business dealings conducted between dealers, brokers and all public investors.
First Tier Securities: Securities that have received short-term debt ratings in the highest category from the requisite NRSROs, or are comparable unrated securities, or are issued by money market funds, or government securities. [See sec Rules: Paragraph (a)(12) of rule 2a-7]
Government Accounting Standards Board (GASB): A standard-setting body, which prescribes standard accounting practices for governmental units.
Government National Mortgage Association (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHA mortgages. The term “pass-throughs” is often used to describe Ginnie Maes.
Guaranteed Investment Contracts (GICS): An agreement acknowledging receipt of funds for deposit, specifying terms for withdrawal, and guaranteeing a rate of interest.
Interest: The amount a borrower pays to a lender for the use of his or her money.
Interest Rate Risk: The potential for a decline in bond prices and the market value of bonds in the portfolio, due to rising market interest rates. In general, bond prices vary inversely with interest rates. The change in a bond’s price depends on several factors, including its maturity date. In general, bonds with longer maturities are more sensitive to changes in interest rates than bonds with shorter maturities. Similarly, bond funds with longer average portfolio maturities, such as the CalTRUST Medium-Term and Long-Term Accounts, will be more sensitive to interest rate changes than those with shorter average portfolio maturities, such as the CalTRUST Short-Term account.
Investment Agreements: Investment agreements are contracts with respect to funds deposited by an investor. Investment agreements are often separated into those offered by banks and those offered by insurance companies. In the former case, they are sometimes referred to as “bank investment contracts.”
Liquidity: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes.
Liquidity Risk: The chance that a security, sold prior to maturity, will be sold at a loss of value. For a local agency, the liquidity risk of an individual investment may not be as critical as how the overall liquidity of the portfolio allows the agency to meet its cash needs.
Local Agency Investment Fund (LAIF): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment. LAIF was created in the California State Treasury by Section 16429 GC. LAIF holds local government funds in trust in a state investment pool in order to provide safety, liquidity and the benefits of the investment pool yield for local government entities invested in LAIF. LAIF may hold a broader range of securities that would not be eligible under AMP’s investment criteria. Since LAIF is subject to different statutory investment provisions, any such variances in the LAIF pool holdings are appropriate exceptions for AMP purposes.
Market Risk: The chance that the value of a security will decline as interest rates rise. In general, as interest rates fall, prices of fixed income securities rise. Similarly, as interest rates rise, prices fall. Market risk also is referred to as systematic risk that affects all securities within an asset class similarly.
Market Value: The price at which a security is trading and could presumably be purchased or sold on a specific date.
Master Repurchase Agreement: A written contract covering all future transactions between the parties to repurchase and reverse repurchase agreements that establish each party’s rights in the transactions. A master agreement will often specify, among other things, the right of the buyer- lender to liquidate the underlying securities in the event of default by the seller borrower.
Maturity: The date upon which the principal or stated value of an investment becomes payable.
Money Market: The market in which short-term debt instruments (bills, commercial paper, bankers’ acceptances, etc.) are issued and traded. Rule 2a-7 of the Investment Company Act applies to Money Market Funds, which mandates these funds to maintain certain standards, including a 13 month maturity limit and a 90 day average maturity on investments, to maintain a constant net asset value of $1.00.
Mortgage Backed Securities (MBS): Mortgage-backed securities (MBS) are created when a mortgagee or a purchaser of residential real estate mortgages creates a pool of mortgages and markets undivided interests or participations in the pool. MBS owners receive a prorata share of the interest and principal cash flows (net of fees) that are “passed through” from the pool of mortgages. MBS are complex securities whose cash flows are determined by the characteristics of the mortgages that are pooled together. Investors in MBS face prepayment risk associated with the option of the underlying mortgagors to pre-pay or payoff their mortgage. Most MBS are issued and/or guaranteed by federal agencies and instrumentalities (e.g., Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA), and Federal Home Loan Mortgage Corporation (FHLMC)).
Mortgage Pass-Through Obligations: Securities that are created when residential mortgages (or other mortgages) are pooled together and undivided interests or participations in the stream of revenues associated with the mortgages are sold.
Mutual Funds: An investment company that pools money and can invest in a variety of securities, including fixed-income securities and money market instruments.
Nationally Recognized Statistical Rating Organizations (NRSROs): Credit rating agencies whose ratings are permitted to be used for regulatory purposes such as Securities and Exchange Commission.
Negotiable Certificate Of Deposit (NCD): A large denomination certificate of deposit which can be sold in the open market prior to maturity. Generally, it is a short-term debt instrument that usually pays interest and is issued by a bank, savings or federal association, state or federal credit union, or state-licensed branch of a foreign bank. The majority of negotiable cds mature within six months, while the average maturity is two weeks. Negotiable CDs are traded in a secondary market and are payable upon order to the bearer or initial depositor (investor). These instruments are supported only by the strength of the institution issuing them.
Net Asset Value (NAV): A term used in the mutual fund industry to determine the average price per share of a pool or mutual fund. How this measure varies over time provides information on whether the pool is stable or variable. NAV is the market value of all securities in a mutual fund, less the value of the fund’s liabilities, divided by the number of shares in the fund outstanding. Shares of mutual funds are purchased at the funds’ offered NAV.
Net Present Value: An amount that equates future cash flows with their value in the present terms.
Non-Negotiable Certificates of Deposit: Funds deposited in nationally or state chartered banks or state or federal associations for a specified period of time at a specified rate of interest. The first $250,000 is guaranteed by the Federal Deposit Insurance Corporation (FDIC) for banks, the Federal Savings and Loan Insurance Corporation (FSLIC) for savings and loan associations and the National Credit Union Share Insurance Fund (NCUSIF) for credit unions. CDs with a face value in excess of $250,000 must be collateralized at 110% of market value with pledged securities of the banking institution.
Note: A written promise to pay a specified amount to a certain entity on demand or on a specified date. Usually bearing a short-term maturity of a year or less (though longer maturities are issued— see “Medium-Term Note”).
Offer: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid.
Open Market Operations: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve’s most important and most flexible monetary policy tool.
Options: A contract that gives the buyer the right to buy or sell an obligation at a specified price for a specified time. Exchange Traded Options are standardized option contracts that are actively traded on the Chicago Board of Exchange on a daily basis, whereas over the counter options are traded directly between the buyer and seller at agreed upon prices and conditions (the former type of option is therefore more liquid than the latter).
Par Amount Or Par Value: The principal amount of a note or bond which must be paid at maturity. Par, also referred to as the “face amount” of a security, is the principal value stated on the face of the security. A par bond is one sold at a price of 100 percent of its principal amount.
Portfolio: Collection of securities held by an investor.
Premium: The amount by which the price paid for a security exceeds the security’s par value. Investors pay a premium to purchase a security when the return to the investor (yield) is lower than the stated coupon (interest rate) on the investment.
Price: Price is the amount of monetary consideration required by a willing seller and a willing buyer to sell an investment on a particular date.
Primary Dealer: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include the Securities and Exchange Commission (SEC), registered securities broker-dealers and banks.
Principal: The face value or par value of a debt instrument, or the amount of capital invested in a given security.
Prospectus: A legal document that must be provided to any prospective purchaser of a new securities offering registered with the SEC that typically includes information on the issuer, the issuer’s business, the proposed use of proceeds, the experience of the issuer’s management, and certain certified financial statements (also known as an “official statement”).
Prudent Person Rule: An investment standard. In some states the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody state, the so-called legal list. In other states the trustee may invest in a security if it is one which would be bought by a prudent person of discretion and intelligence who is seeking an income and preservation of capital.
Qualified Public Depositories: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits.
Rate Of Return: The yield on a security based on its purchase price or its current market price. This may be the amortized yield to maturity, on a bond it is the current income return.
Reverse Repurchase Agreements: An agreement of one party (for example, a financial institution) to purchase securities at a specified price from a second party (such as a public agency) and a simultaneous agreement by the first party to resell the securities at a specified price to the second party on demand or at a specified date.
Repurchase Agreement (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security “buyer” in effect lends the “seller” money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. One exception is when the Federal Reserve is said to be doing RP, it is lending money that is increasing bank reserves.
Risk: The uncertainty of maintaining the principal or interest associated with an investment due to a variety of factors.
Rule G-37 Of The Municipal Securities Rulemaking Board: Federal regulations to sever any connection between the making of political contributions and the awarding of municipal securities.
Safety: In the context of investing public funds, safety relates to preserving the principal of an investment in an investment portfolio; local agencies address the concerns of safety by controlling exposure to risks.
Safekeeping: A service to customers rendered by banks for a fee, whereby securities and valuables of all types and descriptions are held in the bank’s vaults for protection.
Secondary Market: A market made for the purchase and sale of outstanding issues following the initial distribution.
Securities & Exchange Commission: Agency created by Congress to protect investors in securities transactions by administering securities legislation.
SEC Rule 15C3-1: See Uniform Net Capital Rule.
Settlement Date: The date when a trade is cleared by delivery of securities against funds
Structured Notes: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, etc.) and Corporations, which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, and derivative based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve.
Supranationals: International financial institutions that are generally established by agreements among nations, with member nations contributing capital and participating in management. Supranational bonds finance economic and infrastructure development and support environmental protection, poverty reduction, and renewable energy around the globe.
Swap: A swap is any financial transaction that involves the simultaneous purchase of a security and the sale of another for the purpose of enhancing an investor’s portfolio. Swap transactions of interest to California public investors include portfolio swaps and interest rate swaps.
Tax and Revenue Anticipation Notes (TRANS): Notes issued in anticipation of receiving tax proceeds or other revenues at a future date.
Time Deposits: Issued by depository institutions against funds deposited for a specified length of time. Time deposits include instruments such as deposit notes. They are distinct from certificates of deposit (CDs) in that interest payments on time deposits are calculated in a manner similar to that of corporate bonds, whereas interest payments on CDs are calculated similar to that of money market instruments.
Treasury Bills: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months to one year.
Treasury Bonds: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years.
Treasury Notes: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years.
Trustee: A financial institution with powers to act in a fiduciary capacity for the benefit of the bondholders in enforcing the terms of the bond contract.
Underwriter: A dealer that purchases a new issue of municipal securities for resale.
Uniform Net Capital Rule: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash.
U.S. Treasury Obligations: These are debt obligations of the U.S. Government sold by the Treasury Department in the forms of bills, notes, and bonds, for which the full faith and credit of the United States are pledged for the payment of principal and interest. Bills are short-term obligations that mature in one year or less and are sold at a discount. Notes are obligations that mature between one year and ten years. Bonds are long-term obligations that generally mature in ten years or more.
Weighted Average Maturity (WAM): The average maturity of all the securities that comprise a portfolio that is typically expressed in days or years. Yield (Yield to Maturity, Yield to Call or Yield to Worst): The rate of annual income return on an investment, expressed as a percentage. Income yield is obtained by dividing the current dollar income by the current market price for the security. Net yield or yield to maturity or call is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity or call.
Yield Curve: A graphical representation of the yield on bonds, notes or bills of the same type and credit risk at a specific date for maturities up to thirty years.
Zero Coupon Security: A security that is issued at a discount and makes no periodic interest payments. The rate of return consists of an accretion of the principal and is payable at par upon maturity. AGENDA ITEM NO.: 4.G.1 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-69 ACTION: BY MOTION
To: Honorable Public Utilities Board Submitted by: ______/S/ Chris Ferrara AGM – CRD (Acting)
From: Chris Ferrara Approved by: ______/S/ AGM – CRD (Acting) Nicolas Procos General Manager
Subject: By Motion, Authorize a Second Amendment to Service Provider Agreement PS 5-17- 01 with Felicia Ann Illustration & Design for Bill Inserts and Miscellaneous Design Services, Extending the Term through June 30, 2022, Updating the Scope of Services, and Increasing the Compensation by an Amount Not-To-Exceed $40,000 for a Total Compensation Amount under the Agreement which is Not-To-Exceed $114,000
RECOMMENDATION
By motion, authorize a Second Amendment to Service Provider Agreement PS 5-17-01 with Felicia Ann Illustration & Design for bill inserts and miscellaneous design Services, extending the term through June 30, 2022, updating the scope of services, and increasing the compensation by an amount not-to-exceed $40,000 for a total compensation amount under the agreement which is not-to-exceed $114,000.
BACKGROUND
On May 31, 2017, a 3-year agreement (hereinafter “Agreement”) not to exceed $55,000, was entered into by and between Alameda Municipal Power (AMP) and Felicia Ann Illustration & Design to create original illustration, design and layout for bill inserts and other design work as requested by AMP for high-quality artistic marketing and promotional materials.
On June 5, 2020, Amendment #1 extended the Agreement to June 30, 2021, modified the fee structure and added compensation not to exceed $19,000. The Agreement and Amendment #1 total compensation is not to exceed $74,000.
DISCUSSION
Felicia Ann Illustration & Design of Alameda, CA, is an award-winning local artist who has worked as AMP’s contract illustrator since 2017. The firm’s innovative and highly creative bill inserts have earned two major industry awards. In 2019, AMP’s bill inserts on utility safety issues ranked first place in APPA’s Excellence in Public Power Communications Awards. One year earlier, the Northwest Public Power Association awarded AMP an Excellence in Communication Award for bill inserts in the special-publications category. AGENDA ITEM NO.: 4.G.2 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-69
The firm’s unique artwork attracts attention and helps AMP communicate key messages on many issues including electrical safety, energy efficiency, 100 percent clean energy, and electric vehicles. Customer feedback has been very positive with one customer saying that the bill inserts were, “interesting and beautiful.”
Services to be performed will continue to be creating original illustration, design and layout for bill inserts, the Flash and other miscellaneous artwork and designs that promote AMP’s activities, products and services.
Staff is bringing this item to the PUB because this contract extension will exceed the value threshold and bring the total not to exceed contract amount to $114,000 over the entire term of 61 months.
FINANCIAL IMPACT Sufficient funds are included in the fiscal year 2022 budget for this extension, Amendment #2.
EXHIBITS
A. Service Provider Agreement PS 05-17-01 B. Amendment #1 to Service Provider Agreement PS 05-17-01 C. Amendment #2 to Service Provider Agreement PS 05-17-01 AGENDA ITEM NO.: 4.G MEETING DATE: 06/21/2021 EXHIBIT A
SERVICE PROVIDER AGREEMENT PS 05-17-01
THIS SERVICE PROVIDER AGREEMENT ("Agreement") is entered into this 3/�day of M � , 2017, by and between ALAMEDA MUNICIPAL POWER ("AMP"), a depa11m� of the CITY OF ALAMEDA, a municipal corporation (the "City"), and FELICIA ANN ILLUSTRATION & DESIGN, a sole proprietor, whose address is 2019 Shoreline Dr. #21 I, Alameda, CA 94501, (the "Provider"), in reference to the following:
RECITALS:
A. AMP is a department of the City of Alameda a municipal corporation duly organized and validly existing under the laws of the State of California with the power to carry on its business as it is now being conducted under the statutes of the State of California and the Charter of the City.
B. The City is in need of the following services: illustration and design services. City staff reached out to three (3) providers and selected the service provider that best meets the City's needs
C. Provider possesses the skill, experience, ability, background, certificationand knowledge to provide the services described in this Agreement on the termsand conditions described herein.
D. AMP and Provider desire to enter into an agreement forservices and material required to provide bill inserts and ·color advertisements upon the tenns and conditions herein.
NOW, TH�REFORE, it is mutually agreed by and between the undersigned parties as follows:
1. TERM: The term of this Agreement shall commence on the 1st day of July 2017, and shall terminate on the 30th day of June 2020, unless terminated earlier as set forth herein.
2. SERVICES TO BE PERFORMED: Provider agrees to do all necessary work at its own cost and expense, to furnishall labor, tools, equipment, materials, except as otherwise specified, and to do all necessary work included in Exhibit A as requested. The Provider acknowledges that the work plan included in Exhibit A is tentative and does not commit the City to request Provider to perform all tasks included therein.
3. COMPENSATION TO PROVIDER: a. By the i11 day of each month, Provider shall submit to the AMP an invoice forthe total amount of work done the previous month. Pricing and accounting of charges are to be according to the fee schedule as set forth in Exhibit B and incorporated herein by this reference. Extra work must be approved in writing by the AMP General Manager or his/her designee prior to performance and shall be paid on a Time and Material basis as set forth in Exhibit B.
PS 05-17-01 Felicia Ann �llustration & Design Version 07-06-16
reimburse AMP for all reasonable costs and expenses associated with the supplemental examination or audit.
17. NOTICES: a. All notices shall be in writing and delivered: (i) by hand; or (ii) sent by registered, express, or certified mail, with return receipt requested or with delivery confirmation requested from the U.S. postal service; or (iii) sent by overnight or same day courier service at the party’s respective address listed in this Section.
b. Each notice shall be deemed to have been received on the earlier to occur of: (x) actual delivery or the date on which delivery is refused; or (y) three (3) days after notice is deposited in the U.S. mail or with a courier service in the manner described above (Sundays and City holidays excepted).
c. Either party may, at any time, change its notice address (other than to a post office box address) by giving the other party three (3) days prior written notice of the new address.
d. All notices, demands, requests, or approvals from Provider to AMP shall be addressed to AMP at:
Alameda Municipal Power 2000 Grand Street Alameda, CA 94501 Attn: Rebecca Irwin – AGM Customer Resources Ph: (510) 814-6419 / email: [email protected]
e. All notices, demands, requests, or approvals from City to Provider shall be addressed to Provider at:
Felicia Ann Illustration & Design 2019 Shoreline Drive, #211 Alameda, CA 94501 Attn: Felicia Ann Chang - Owner Ph: 310-228-7896 / email: [email protected]
18. SAFETY: a. The Provider will be solely and completely responsible for conditions of all vehicles owned or operated by Provider, including the safety of all persons and property during performance of the services and tasks under this Agreement. T his requirement will apply continuously and not be limited to normal working hours. In addition, Provider will comply with all safety provisions in conformance with U.S. Department of Labor Occupational Safety and Health Act, any equivalent state law, and all other applicable federal, state, county and local laws, ordinances, codes, and any regulations that may be detailed in other parts of the Agreement. W here any of these are in conflict, the more stringent requirements will be followed. The Provider’s failure to thoroughly familiarize itself with the aforementioned safety provisions will not relieve it from compliance with the obligations and penalties set forth herein.
PS 05-17-01 Felicia Ann Illustration & Design 7 Version 07-06-16
IN WITNESS WHEREOF, the parties have caused the Agreement to be executed on the day and year first above \Vrittcn.
FELICIA ANN ILLUSTRATION & DESIGN ALAMEDA MUNICIPAL POWER, A sole proprietor a Department of the City of Alameda, a Municipal Corporation � Felicia Ann Chang N1col Procos Owner General Manager
Rebecca Irwin AGM -Customer Resources
APPROVED AS TO FORM: City Attorney
n M. Cohen Assistant City Attorney
PS 05-17-01 Felicia Ann Illustration & Design 10 Version 07-06-16 EXHIBIT A
SCOPE OF DESIGN SERVICES WORK (July 1, 2017-June 30, 2020}
BILL INSERTS
Bill inserts are 3.5" X 8.5" double sided, color ads that are inserted into AMP's monthly customer bill. Inserts provide information on energy efficiency, safety and public power, plus market AMP programs and services.
Create original illustration, design and layout for up to 42 bill inserts. Includes developing two design/layout options and two revisions per insert. Final artwork will be print-ready.
AMP will provide a creative brief each month and work with the designer to refine the concept.
Inserts will also be housed on AMP's website and may be used for banners on the website. Designer may be asked to create bill insert related website banner (at additional hourly fee)
Bill insert designs must be finalized and submitted to AMP by the 12th to 15th of each month. Schedule is subject to change. Stock art purchased via istockphoto.com or similar companies will be charged to AMP as a separate line item.
MISCELLANEOUS DESIGN SERVICES
Provider will be compensated for services on a time and materials basis, at an hourly rate for miscellaneous design projects to include, but not limited to, residential appliance rebates, residential upstream lighting rebates, multifamily/low income rebates, commercial lighting rebates, special events and general branding ads as needed throughout the year. (an estimated 24 projects) EXHIBIT B
FELICIA ANN ILLUSTRATION & DESIGN PRICING
JULY 1, 2017- June 30 ,2020
$800.00 Per Bill Insert (up to 42 over three years)
$65.00 per hour for other Advertising Materials (estimated 24 over three years) AGENDA ITEM NO.: 4.G MEETING DATE: 06/21/2021 EXHIBIT B
AGENDA ITEM NO.: 4.G MEETING DATE: 06/21/2021 EXHIBIT C
AGENDA ITEM NO.: 4.H.1 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-70 ACTION: BY MOTION
To: Honorable Public Utilities Board Submitted by: /S/ Robert Orbeta AGM – Administration
From: Roger Yang Approved by: /S/ Support Services Manager Nicolas Procos General Manager
Subject: By Motion, Requiring Four-Fifths Vote, Authorize the General Manager to Sole Source the Purchase of Landis+Gyr Advanced Metering Infrastructure Meter Equipment from Carlson Sales Metering Solutions, LLC in an Amount Not to Exceed $208,700.
RECOMMENDATION
By motion, requiring four-fifths vote, authorize the general manager to sole source the purchase of Landis+Gyr advanced metering infrastructure meter equipment from Carlson Sales Metering Solutions, LLC in an amount not to exceed $208,700.
BACKGROUND
On September 19, 2016, the Public Utilities Board (Board) authorized the General Manager to award purchases to Landis+Gyr to supply Advanced Metering Infrastructure (AMI) meter equipment in accordance with service provider agreement no. PS 03-16-10. Landis+Gyr was selected for their AMI system, which includes meters, network infrastructure, and head end system. Landis+Gyr AX series meters are full featured meters designed to share the same design platform for single phase residential meters as their three phase commercial meters.
Alameda Municipal Power (AMP) last purchased AMI meters of a different type (e.g., 36 AMI Meter Form 9S for $12,400) approved by the Board in April 2021 and deliveries are scheduled for July 2021. AMP last purchased AMI meters of the same type (e.g., 864 AMI Meter Form 12S for $206,800) approved by the Board in June 2020 and all meters from that purchase have been delivered.
DISCUSSION
The following table shows the AMI meter equipment with the last column showing the quantity recommended for purchase of 9 full pallets based upon new development projects needs such as Rosefield Affordable Housing, Bldg 8, Alameda Marina Phase 1A, and Alameda Landing Waterfront. AMP purchases commonly used meters in full pallets to mitigate damages from shipping of odd lots, for additional meters in the event of any faulty new meters, and to replenish stock for unplanned and other additional needs. AGENDA ITEM NO.: 4.H.2 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-70
AMP Item Recommended Description Vendor Code for Purchase METER, L+G AX-SD FORM Carlson Sales 1754 12S(25S) 120V CL200 w/ COMM 864 Metering Solutions FOR RES
Staff requested a current quotation from Carlson Sales Metering Solutions, LLC (Carlson Sales) to supply AMI meters recommended for purchase. Carlson Sales is the exclusively authorized distributor of Landis+Gyr products for all public power accounts in Northern California. The unit price of $220.00 per meter (including delivery, but excluding sales tax) for purchases between 289 and 2,999 units reflects a price break of $9 from $229.00 for purchases less than 289 units.
Sole Source Justification
Staff recommends sole source purchasing of the AMI meters from Carlson Sales for an amount not to exceed $208,700 including sales tax and delivery, for the following reasons:
• To match existing equipment installed throughout AMP’s service territory. AMP has invested in this type of metering equipment. Installing this type of meter will provide an opportunity to apply existing templates for AMP’s existing application software, operation schemes, and current commissioning test plans. This will result in lower configuration, installation, commissioning, and maintenance costs than would be the case with another manufacturer’s product.
• AMP staff have invested significantly in training on Landis+Gyr meters and associated technology. During the past several years, engineering and operations staff has attended commissioning, maintenance, and operations training related to this type of product installed in AMP’s service territory.
• To interface with AMP’s existing AMI system. AMP will be spending time and resources configuring the new devices to interface with AMP’s existing AMI system. Integrating another manufacturer’s product into AMP’s existing AMI system can be difficult, expensive, and in some cases, not possible. Using this type of meter will ensure compatibility for integration to AMP’s existing AMI system using the same database and metering panel templates.
• To standardize the number and types of spare parts for AMP’s AMI metering system. This will eliminate storing different types of spare parts for AMP’s metering system in the inventory. Parts can be used interchangeably throughout AMP’s territory.
FINANCIAL IMPACT
The purchase of meters is included in the fiscal year 2022 budget, the period when meters are expected to be delivered and invoiced. AGENDA ITEM NO.: 4.H.3 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-70
LINKS TO AMP STRATEGIC PLAN
None
EXHIBITS
A. Carlson Sales Metering Solutions, LLC Quote B. Meter Purchase History C. Landis+Gyr Authorized Distributor Acknowledgement Letter AGENDA ITEM NO: 4.H MEETING DATE: 06/21/2021 EXHIBIT A AGENDA ITEM NO.: 4.H MEETING DATE: 06/21/2021 EXHIBIT B L+G 12S METER PURCHASE HISTORY
JUNE 2021 PURCHASE Extended Unit Price Price Fiscal AMP (Including (Including Year Vendor Purchase Date Item Description Quantity Delivery, Delivery & (FY) Code Excluding 9.75% Sales Sales Tax Tax) FY20 Carlson Sales June 2020 01754 METER, L+G AX-SD FORM 12S(25S) 864 $218.00 $206,716.32 120V CL200 w/ COMM FOR RES.
January 2020 01754 METER, L+G AX-SD FORM 12S(25S) 96 $229.00 $24,127.44 120V CL200 w/ COMM FOR RES.
October 2019 01754 METER, L+G AX-SD FORM 12S(25S) 96 $229.00 $24,127.44 120V CL200 w/ COMM FOR RES.
July 2019 01754 METER, L+G AX-SD FORM 12S(25S) 192 $229.00 $48,035.04 120V CL200 w/ COMM FOR RES.
FY19 Carlson Sales May 2019 01754 METER, L+G AX-SD FORM 12S(25S) 12 $229.00 $3,002.19 120V CL200 w/ COMM FOR RES. September 2018 01754 METER, L+G AX-SD FORM 12S(25S) 50 $229.00 $12,509.13 120V CL200 w/ COMM FOR RES.
FY18 Landis + Gyr November 2017 - DGBH0N7N-0CH9-4000 Focus Ax-SD 959 $208.00 $ 217,923.16 FM12S FY17 Landis + Gyr April 2017 - DGBH0N7N-0CH9-4000 Focus Ax-SD 1283 $208.00 $291,548.92 FM12S March 2017 - DGBH0N7N-0CH9-4000 Focus Ax-SD 779 $208.00 $177,019.96 FM12S January 2017 - DGBH0N7N-0CH9-4000 Focus Ax-SD 1,000 $208.00 $227,240.00 FM12S
AGENDA ITEM NO.: 4.H MEETING DATE: 06/21/2021 Landis+Gyr Kathleen Farrell-Smith 2800 Duncan Road Channel Manager EXHIBIT C Lafayette 47904-5012 IN [email protected] United States
Landis+Gyr Inc. is proud to acknowledge Zia Electrical Products as
the authorized distributor of metering products for all public power Marchaccounts 18, in 2021 New Mexico, Arizona and Southern Nevada.
ToFor Public more thanPower 20 Accounts years, Zia has been a long standing partner of StatesLandis+Gyr; of Alaska, offering Oregon dedicated, Washington sales and, serviceIdaho, toNe thevad municipala, Utah and Northern California. and cooperative utilities in the Southwest. For information about the FOCUS AX, FOCUS AXSD, S4e, Elite and all of our meter products, contact them at: Landis+Gyr Technology Inc, is proud to acknowledge Carlson Sales as the exclusively authorized distributorZia Electrical of Products Landis+Gyr products for all public power accounts in Alaska, Hawaii, Oregon, WPOashington Box 482/408, Idaho, N. Orme Nevada, Ave Utah and Northern California. Mountainair, NM 87036 (505) 847-2864 * (505) 847-0149 Fax For more than 25 years, Carlson Sales has been a long-standing partner of Landis+Gyr; offering We thank you for your interest in Landis+Gyr products. dedicated sales and service to the municipal and cooperative utilities in the Northwest. For informationDear All about all of our metering and communication products and systems, contact them at:Kind regards
Carlson Sales 800-456-3306 ***.Carlson-Sales.com
We thank you for your interest in Landis+Gyr products.
Sincerely,
Kathleen Farrell-Smith Channel Manager
www.landisgyr.com AGENDA ITEM NO.: 4.I.1 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-71 ACTION: BY RESOLUTION
To: Honorable Public Utilities Board Submitted by: ______/S/ Robert Orbeta AGM –Administration
From: Robert Orbeta Approved by: ______/S/ AGM - Administration Nicolas Procos General Manager
Subject: By Resolution, Commend Ann L. McCormick for Her Tenure and Distinguished Service to the Public Utilities Board
RECOMMENDATION
By resolution, recognize eighteen years of outstanding service as a member of the Public Utilities Board, Ann McCormick served with distinction in several capacities, including Commissioner, Vice President and Board president for past three year,
BACKGROUND
Upon the retirement of President Ann McCormick, the Public Utilities Board has adopted a resolution of commendation.
DISCUSSION
The attached resolution and recitals reflect on the length of service as well as the major contributions made by President McCormick. A suitable presentation copy of the resolution also will be prepared.
FINANCIAL IMPACT
None.
EXHIBIT
A. Resolution CITY OF ALAMEDA ALAMEDA MUNICIPAL POWER
RESOLUTION NO. ____
COMMEND ANN L. McCORMICK FOR HER TENURE AND DISTINGUISHED SERVICE TO THE PUBLIC UTILITIES BOARD
WHEREAS, Ms. Ann L. McCormick has been a dedicated and committed member of the Public Utilities Board from 2000 to 2010 and 2013 to 2021; and
WHEREAS, during her total of eighteen years of service as a member of the Public Utilities Board, she served with distinction in several capacities, including Commissioner, Vice President and Board president for past three years; and
WHEREAS, while a member of the Public Utilities Board, President McCormick was distinguished for her devotion to duty, dedicating her management abilities to the continued orderly progressive development of Alameda Municipal Power (AMP); and
WHEREAS, her support and advocacy for the short-term sale of Renewable Energy Credits (RECs) provided AMP with an innovative funding source to support programs that reduced GHG emissions in the community with no cost impact to customers; and
WHEREAS, President McCormick was a strong advocate for the need for AMP to evolve to meet the future challenges facing utilities and AMP, including, among other things, the approval of AMP Advanced Metering Infrastructure project to replace 36,000 meters with modern metering infrastructure; and
WHEREAS, she worked tirelessly to position the utility to be carbon neutral starting in 2020 and to be well ahead of most utilities in meeting renewable portfolio regulatory requirements; and
WHEREAS, her knowledge, expertise, and abilities were of great assistance to the functioning and policy direction of the Public Utilities Board; and
WHEREAS, President McCormick also provided invaluable support and enthusiasm for a variety of innovative customer service and public benefit programs and maintenance of Alameda Municipal Power’s exceptional records of safety and reliability; and
WHEREAS, President McCormick also was key in establishing and maintaining electric rates currently twenty eight per cent lower then rates in surrounding communities and ensuring that there have been no rate increases the past two years; and
AGENDA ITEM NO.: 4.I MEETING DATE: 06/21/2021 EXHIBIT A WHEREAS, it has been a pleasure to work with President McCormick, and she will be truly missed by all.
NOW, THEREFORE BE IT RESOLVED that the members of the Public Utilities Board, City of Alameda, hereby commend Ann L McCormick for her past eight years of advocacy and eighteen years overall as a member of said Board and for her honest, loyal, faithful, and dedicated service to Alameda Municipal Power and to the residents of the City of Alameda.
Approved as to Form
By: ______/S/______Alan M. Cohen Assistant City Attorney AGENDA ITEM NO.: 5.A.1 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-72 ACTION: BY RESOLUTION
To: Honorable Public Utilities Board Submitted by: ______/S/ Robert Orbeta AGM – Administration
From: Sophie Saad Approved by: ______/S/ Financial & Utility Billing Manager Nicolas Procos General Manager
Subject: Adopt Separate Resolutions Establishing the Fiscal Year 2022 Budget, Including Delegating Authority for Implementing and Managing the Budget to the General Manager of Alameda Municipal Power or His Designee. Or In the Event That the Public Utilities Board Elects to Postpone Adopting the FY 2022 Budget, Adopt an Emergency Spending Authorization ______
RECOMMENDATION
By resolution, Authorize the Fiscal Year (FY) 2022 Budget.
BACKGROUND
On April 19, 2021, the Public Utilities Board (Board) met in a working session to discuss the budget for FY 2022 and other financial planning matters. In preparation for this session and to ensure that all appropriate business plans were incorporated, staff prepared a draft of the budget with its supporting detailed documents. The information contained in those budget working documents has been reviewed, expanded, corrected and/or updated as necessary.
DISCUSSION
The Board conducted its Annual budget workshop on April 19, 2021. The Board approved the changes to the Rate Schedules and Riders for FY 2022 on April 19, 2021. AGENDA ITEM NO.: 5.A.2 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-72
The changes since the Budget Workshop are as follows:
Description Proposed at Change After Net Change Workshop Workshop Admin-Billing/Finance - Pension Expense $ 1,974,103.61 $ 1,934,103.61 $(40,000.00) Admin-Finance - Transfer to City based 4,092,240.00 4,164,456.00 72,216.00 on April 2021 CPI Customer Resources-New Development 110,000.00 150,000.00 40,000.00 Construction Rebate Program
Total Expense Adjustment $ 6,176,343.61 $ 6,248,559.61 $ 72,216.00
The FY 2022 Budget (Exhibit D) is organized into the following sections:
1. Section 1 – Introduction to AMP Organization. This section includes an organization overview, a copy of AMP’s purpose statement, strategies and metrics, and the proposed organization chart. 2. Section 2 – Compliance Tests. This section includes various compliance calculations that use budgeted values and year end estimates to review measurement metrics. 3. Section 3 – AMP Budget (Summary Financial Information by FERC accounts). This section presents a financial summary of the Budget consolidated from detailed data grouped into the Federal Energy Regulatory Commission (FERC) codes. 4. Section 4 - Detailed Financial Information by FERC account. This section contains detailed operating expenses for each summarized FERC code contained in Section 3 and displays budget details for each FERC code (shown at the center of the sheet) with the sub-project breakdown consisting of labor (1), service (2), and material (3) expenses. 5. Section 5 - Detailed Financial Information by Division and CIP. This section contains detailed operating expenses for each Division, supplemental data outlining the divisional work plan and staffing, and information for Capitalized Infrastructure Projects.
FY 2022 Budget Highlights
The following highlights pertaining to the FY 2022 Budget are presented for your information, and generally follow the order of entries from Section 3 - Page 1 of 13:
AGENDA ITEM NO.: 5.A.3 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-72
Revenue
• The Board approved a zero percent rate increase on April 19, 2021. The budget reflects this rate.
Purchased Power
• The largest single expense category in the budget is Purchased Power. • The budget for purchased power is approximately $288K higher than prior year due to increased transmission costs, higher demand charges, decrease in sales/power purchases, and lower energy charges for FY 2022.
Operating Expense
• The expense projection is based on a wide variety of inputs including staff’s consideration of work plans and actual revenues/expenditures during the previous fiscal year and the first half of this fiscal year. • The full-time position control (FTE) count for FY 2022 is 94 which reflects 2 positions that are not funded but included in total head count per City of Alameda. • The bargaining unit make-up of the 92 staff positions is: o ACEA= 9 (0 open), o EXME = 1 (no open), o EUPA= 40 (5 open), o MCEA = 1 (no open), o IBEW= 27 (5 open), and o Unrepresented Management Employee(s) = 4 (no open), • There are no part-time positions for FY2022 and no temporary positions. • Negotiated labor agreements for all bargaining units have been incorporated into the budget. • Changes to salary or benefit packages scheduled for 2022 and 2023 have been incorporated. • Labor fund allotment is based on the organization chart, and division supporting documents. • The budget incorporates the City Cost Allocation. • The Alameda Point telephone network will be maintained consistent with past practice. • The Energy Adjustment Charge is zero FY 2022.
Non-operating Revenue/Expenses
• The non-operating expense projection is based on historical trends and the debt interest from the 2010 A/B bonds. • Interest income continues to reflect the rates received in the current economy. • Outside billing work is expected to increase from last year’s budget. AGENDA ITEM NO.: 5.A.4 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-72
• PILOT/ROI is based on the City’s ordinance rate of “1 percent of assets” formula and is estimated at $1.5 million in FY 2021/2022. • A City transfer of $4,164,456 has been included in the budget. The estimated CPI index used for the increase was 3.8 percent based on April’s 12-month rolling CPI.
Other Additions (Revenue)
• AMP will utilize $1,659,962 of Underground Utility District (UUD) reserve funds in FY2022 as it continues its UUD program.
Other Reductions (Expenses)
• Debt principal repayments continue for the 2010 A/B bonds. • The UUD Reserve will continue to receive 2 percent of sales revenue. • C&T Sales proceeds will continue to be placed into designated reserves. • Renewable Energy Credit (REC) sales ended December 31, 2019, reserves will be drawn down for purchase power and other projects. • CIP includes substantial labor, contract, and special purchases. • As CIP draws down inventory, the materials will be replaced into inventory (as appropriate).
Items not included in FY 2022 budget
• Balancing Account adjustments performed at year-end. • Non-operating Expense - Increases/decreases in equity to the NCPA facilities
FINANCIAL IMPACT
• Funding for FY 2021 expires on June 30, 2021. If the Board decides to approve the FY 2022 budget during its final review at the June 21, 2021, regular meeting, expenditure of funds for the new fiscal year would begin on July 1, 2021. If the Board decides to postpone approval of the FY 2022 budget for any reason, there would not be any expenditure of funds in order to sustain Operations. To prevent this possibility, AMP provides to the Board, as part of the budget approval documents, an alternate resolution that provides for an interim expenditure of funds to sustain Operations.
Resolution Adopting a Budget
• Exhibit A presents the resolution adopting the FY 2022 Budget for AMP. Exhibit B presents the FY 2022 Budget with its summary financial information and supporting documentation.
AGENDA ITEM NO.: 5.A.5 MEETING DATE: 06/21/2021 ADMINISTRATIVE REPORT NO.: 2021-72
Resolution Adopting an Interim Budget
Exhibit C presents an alternate resolution to Exhibit A. The alternate resolution will become “void” if the Board adopts Exhibit A during its June 21, 2021, meeting.
EXHIBITS
A. Resolution Adopting a Budget for AMP for the Fiscal Year 2022 B. Budget for AMP for Fiscal Year 2022 with Summary Financial Information and Supporting Documentation C. Resolution Adopting an Interim Spending Authorization (Void if Exhibit A is adopted during the June 21, 2021, Public Utilities Board meeting) D. Resolution Adopting an Investment Policy for the Fiscal Year 2022 E. Resolution Adopting a Budget Policy for AMP F. Fiscal Year 2022 Budget Presentation CITY OF ALAMEDA ALAMEDA MUNICIPAL POWER
RESOLUTION NO.______
ADOPTING A BUDGET FOR ALAMEDA MUNICIPAL POWER FOR FISCAL YEAR 2022 ______
WHEREAS, a detailed budget for all costs to be incurred by Alameda Municipal Power during Fiscal Year 2022 has been prepared and reviewed by the Public Utilities Board; and
WHEREAS, ratepayer comments have been solicited during regular and special Public Utilities Board meetings; and
WHEREAS, the City Charter requires the Public Utilities Board to keep books and records for each utility under its control and management in the manner prescribed by the California Railroad Commission, or its successor in authority, and all other fiscal records in the manner prescribed by the Auditor; and
WHEREAS, Alameda Municipal Power’s proposed budget has been stated in terms of the Uniform System of Accounts established by the Federal Energy Regulatory Commission and the utility’s financial records shall be maintained against these accounts for proper fiscal recording;
NOW, THEREFORE, BE IT RESOLVED that the Public Utilities Board approves, and adopts for use, the proposed Alameda Municipal Power budget for Fiscal Year 2022 as attached hereto and made a part hereof.
FURTHER, BE IT RESOLVED that the Public Utilities Board, pursuant to Article XII, Sec.12-4, (D) of the City of Alameda Charter, has been assigned the budgeting authority for Alameda Municipal Power. The authority for implementing and managing the budget is hereby delegated to the General Manager of Alameda Municipal Power, or his designee, subject to all of the constraints inherent in or implied by the Budget Policy provisions periodically adopted by the Public Utilities Board.
Approved as to Form
By: ______/S/ Alan Cohen Assistant City Attorney
AGENDA ITEM NO.: 5.A MEETING DATE: 06/21/2021 EXHIBIT A AGENDA ITEM NO.: 5.A MEETING DATE: 06/21/2021 EXHIBIT B
BUDGET Fiscal Year 2022
(July 1, 2021 through June 30, 2022) with Supporting Detailed Documentation
PREPARED BY THE
ADMINISTRATION DIVISION
Effective: July 1, 2021 ALAMEDA MUNICIPAL POWER BUDGET - FISCAL YEAR 2022
TABLE OF CONTENTS Page Section 1 – Introduction to AMP Organization Purpose Statement, Strategies, Goals ………………….…………………... 1 Organization Overview..……………………………………………………. 2-3 Organization Chart …………………………………………………………. 4-5
Section 2 – Compliance Tests Debt Coverage Ratio ………….………………………………………….… 1 Operating Reserve Compliance Test ……………………………………….. 2
Section 3 – AMP Budget (Summary Financial Information by FERC accounts) Operating Budget Summary ...………………………………...... 1 of 13 Expense Type Breakdown …..………………………………………………. 2 of 13 Operating Revenues …..…………………………………………………….. 3 of 13 Purchased Power …….……………………………………………………… 4 of 13 Distribution Expenses ………………………………………………………. 5 of 13 Distribution Maintenance Expenses ……………………………………...... 6 of 13 Customer Accounts Expenses ………………………………………………. 7 of 13 Sales Expenses ………………………………………………………………. 8 of 13 Administrative and General Expenses ………………………………………. 9 of 13 Non-operating Revenue / (Expenses) ……………………………………….. 10 of 13 Reserves and Debt Service ………………………………………………….. 11 of 13 Capital Project & Equipment Expenses …………………………………….. 12 of 13 Balancing Account Adjustment Projection ……………………….………... 13 of 13
Section 4 - Detailed Financial Information by FERC account Detailed Division Tasks by FERC account ………………………………..... 1-28
Section 5 - Detailed Financial Information by Division/Section Administration ……………………………………………………….……… 1-10 Customer Resources ……..……………..……..…………………………….. 11-18 Energy Resource Planning ……..……...... 19-24 Engineering & Operations ……..……………….…………………………… 25-31 General Management ……………………….……………………………….. 32-35 Capitalized Infrastructure Projects …………………….…………………….. 36-37
Addendum A – EXHIBITS ……………………………..…………………...... 2 Pages Section 1
Introduction This Page Left Intentionally Blank Alameda Municipal Power (AMP) Mission Statement
Manage and safely provide reliable, cost effective, and environmentally friendly electric services for a sustainable Alameda AMP’s Strategic Destination
Advancing our tradition of community ownership and sustainability to power the needs of a 21st century Alameda. AMP’s Key Performance Indicators (KPIs) Sustainability Achieved 100% carbon-neutral energy portfolio by 2020 and maintain in the future while able to maintain competitive position AMP is in top three of similarly sized public utilities in California for percent of residential customers receiving electric vehicle and energy efficiency rebates Customer Experience Increase awareness of customer programs and brand by 5 percent year over year Maintain 90 percent top-two scores on customer satisfaction survey
Business Resiliency 100 percent of critical assets included and accurate in asset management inventory
Maintain rates at 15 percent or more below PG&E and 10 percent or more below local CCAs
Document and streamline 100 percent of critical processes by 2021
Technology Increase the number of customers accessing information in AMP Account Management Tool by 5 percent year over year Workforce Improve employee satisfaction survey top-two scores by 5 percent year over year
Section 1 – Page 1
AMP - Department Overview
Alameda Municipal Power (AMP) provides electricity to all the residents and businesses of Alameda. The Bureau of Electricity, which does business as “Alameda Municipal Power”, began operation in 1887 and was the first municipal electric utility in California. AMP is under the policy control of the Public Utilities Board (PUB), in accordance with the Alameda City Charter. The PUB consists of four members appointed by the City Council, and the City Manager.
AMP continues fundamental reorganization to meet the needs of its Strategic Plan and aligning staff resources to achieve its purpose. Each year, the PUB identifies key upcoming issues and sets priorities for the department. The electric utility industry is facing an era of unprecedented change. During FY21-22 AMP will continue to meet the technology and workforce transformation that is taking place in the utility industry. The short-term to mid-term focus will be on electric reliability compliance and the mid-term to long-term focus will be on developing and implementing advanced technology blueprints.
Alameda joined the Northern California Power Agency (NCPA) in 1968, is a participant in most NCPA projects, and has also procured other power supply resources independently. In addition, NCPA has developed electric dispatch and transmission capabilities that contribute to Alameda electric utility services. AMP electric resources have a high renewable-energy content which the utility has begun to monetize. AMP serves all of Alameda and has approximately 85.5 pole miles of overhead distribution lines, 188 circuit miles of underground distribution lines, 6.8 pole miles of overhead transmission lines, and 1.9 circuit miles of underground transmission lines. It serves approximately 34,250 customers, comprised of approximately 30,161 residential customers and 3,711 commercial customers, and 378 other users, and had a peak demand of approximately 61.5 megawatts.
AMP’s Strategic Destination
• Advancing our tradition of community ownership and sustainability to power the needs of a 21st century Alameda.
KEY Performance Indicators (KPIs)
• Sustainability • Customer Experience • Business Resiliency • Technology • Workforce
OUR GOALS • Increase awareness of customer programs and brand by 5 percent year over year • AMP Achieved 100% carbon neutral goal on January 1, 2020 • 100 percent of critical assets included and accurate in asset management inventory by 2021 • Maintain rates at 15 percent or more below PG&E and 10 percent or more below local CCAs • Increase the number of customers accessing information in AMP Account Management Tool by 5 • percent year over year • Increase number of qualified applicants for critical open positions by 25 percent by 2020 • Meet all bond covenants by annually ensuring 145 days of cash on hand and a bond ratio of 1.75
2 Alameda Municipal Power Advancing our tradition of community ownership and sustainability to power the needs of a 21st century Alameda.
3 46 Filled Positions 06 Open Position 42 From Page 2 Sheet 1 of 2 94 Total FT Positions 8 Nicolas Procos General Manager 10 1030017101
Chris Low Hayley Wise Senior Human Executive Assistnat Resources Analyst POSITIONS AS OF 03-01-2021 10 1030017101 FY2021 Positions = 92 FTE (+ 0 Temporary), excluded 2 unfunded 10 1040017101 positions FY2022 Positions = 94 FTE, 0 Part-time (+0 Temporary), includes
2 unfunded positions Andre Basler Matthew Gerry Assistant GM Safety Officer Engineering and Operations INCLUDED, NOT PART OF POSITION CONTROL 10 1040017101 (See sheet 2 of 2) Temporary = 0 Staff
Vidhi Chawla Rebecca Irwin Robert Orbeta Irma Esparza Assistant GM Assistant GM 1 Assistant GM Office Assistant Energy Resource Customer Resources Administration 10 2010017101 Planning 10 4130017101 10 2010017101 10 5020617101
Nanette Icatar- Kathleen Haley Steve Chiu Roger Yang Sophie Saad Alan Harbottle Asuncion Sr. Communications Utility Information Tech Support Services Financial Utility and Senior Energy Customer Service Specialist Manager Manager Billing Manager Resources Analyst Supervisor 10 4130017101 10 2110017101 10 2210017101 10 2330017101 10 5020617101 10 4130017101 Chiara Hanna Energy Resources Analyst OPEN La Kesha Wash Charlene Leu OPEN 10 5020617101 Ikue Suto-McNiff Judy Young Utility Energy Analyst Customer Service Luis Escalante Senior Utility Energy Resources Jessie Barcelona Procurement Analyst Utility Billing Specialist 10 5210017101 Representative Utility Systems Analyst Accountant Analyst Utility Database 10 2240017101 10 2340017101 10 4120017101 Analyst 10 2110017101 10 2330017101 10 5020617101 10 2110017101
Wayne Gee Nancy Williams Carolina Mazilu OPEN Heather Heinbaugh Lei Peng Bernadette Yee Customer Service Jesus Alvarez Administrative Services Senior Utility Energy Resources Utility Energy Analyst Utility Information Utility Billing Technician Representative Utility Geographic Coordinator Accountant Analyst 10 5210017101 Systems Network 10 2340017101 10 4120017101 Information Systems 10 2210017101 10 2330017101 10 5020617101 Analyst Analyst 10 2110017101 10 2110017101
Susan Kelly Karen Moreland Johnstone Kipyator Michael Ru Brandi Alvarez Deanna Esparza Administrative Services Customer Service Randy Pham Thai Ly Energy Resources Storekeeper Utility Accountant Utility Billing Technician Coordinator Representative Computer Services AMI System Analyst 10 2230017101 10 2330017101 10 2340017101 10 4130017101 10 4120017101 Technician Administrator 10 5020617101 10 2110017101 10 2110017101
Chris Ferrera Dell Croft John Lane Maritza MacDonald Liam Hossan-Azzopardi Senior Account Customer Service 4 Stock Clerk Utility Accountant Utility Billing Specialist Manager Representative 10 2230017101 10 2330017101 10 2340017101 10 4020017101 10 4120017101
Georgia Wade-King Jonathan Green Sal Tafaoa Open Kurt MacDonald Customer Service Account Manager Stock Clerk Intermediate Clerk Meter Reader Representative 7 10 4020017101 10 2230017101 10 2340017101 10 2410017101 10 4120017101
Traci Smith OPEN OPEN Customer Service Facilities Maintenance Media Coordinator Representative Worker 11 10 4020017101 10 4120017101 10 2220017101 Open Position
Underfilled Position 7
14 Temporary 52 this page reassignment from ops 4 Nicolas Procos General Manager E&O Staffing 35 Regular Employees Andre Basler Assistant GM 5 Open Positions Engineering and Operations 2 Unfunded Positions 10 6210017101 0 New Positions Chiara Hanna 42 On-book Positions Utility Analyst 10 6010017101 1
Diosdado Hernandez OPEN Bob Streich Diane King Engineering Manager Electrical Eq. Line Superintendent Senior Clerk 3 10 3010017101 Superintendent 10 6020017101 10 6010017101 10 3140017101
Tito Nagrampa Gary Spenik Senior Electrical Utility Project Manager Engineer Michael Sherman Steve Nguyen Brian Darnell 10 6110017101 10 3020017101 Line Working Line Working Utility Construction Ross Naton Supervisor Supervisor Compliance Specialist Service Lineworker 10 6040017101 10 6040017101 10 6040617101 10 6040017101 OPEN Dave Steves Substation and Meter Chief System Supervisor Operator Ludwig Simpao Alex Azares John Bignone 10 3120317101 10 6120017101 Electrical Engineer Electrical Engineer Utility Construction 10 3020017101 10 3020017101 OPEN Mark Regan Erik Rivera Compliance Specialist Service Lineworker Journey Lineworker Journey Lineworker 10 6040617101 10 6040117101 10 6040117101 10 6040017101 OPEN Scott Cuellar Paul Whipple Electrical Maintenance Electrical Maintenance System Operator Tech (EMT) Tech (EMT) 10 6120017101 Ray Bascara Dillon Ballinger 10 3120317101 10 3120317101 Electric Distribution Electric Engineering Anthony Davis OPEN Tech Aide Lineworker Journey Lineworker 10 3020017101 10 3020017101 10 6040017101 10 6040117101 James Trotter Carlos Gasca Scott Kolberg System Operator Electrical Maintenance Electrical Maintenance 10 6120017101 Tech (EMT) Tech (EMT) Larry Ancheta OPEN Tony Nguyen Thomas Knight 10 3120317101 10 3120317101 Electrical Engineering Office Journey Lineworker Journey Lineworker Engineering Aide Assistant 10 6040017101 10 6040017101 10 3020017101 10 3020017101
OPEN Eileen Edman OPEN Electrical Maintenance System Operator Tech (EMT) Meter Service Tech Leonard Montilla Gavin Jones 10 6120017101 Juan Herrera 10 3120317101 10 3120317101 Senior Electrical Apprentice Lineworker Journey Lineworker Engineer (Underfill 10 6040017101 10 6040017101 Project Manager) 10 3020017101
Steve De La Guerra Fredrick Leitz Max Gonzalez 7 System Operator Apprentice Apprentice 10 6120017101 10 Lineworker Lineworker 10 6040117101 10 6040017101 SubStation & Metering Installation & Maintenance Metering 5 Engineering SCADA Substations Initiate, Design, Engineer, and 16 Document System Control System switching & dispatch Transmission and Distribution (T&D) Overhead and Underground Open Position Temp reassigned to Construction, Maintenance, and Energy Resource Planning Inspection Underfilled
Unfunded 5 Section 2
Compliance Tests This Page Left Intentionally Blank Alameda Municipal Power Electric Debt Coverage Ratio for the Year Ending June 30, 2022 Public Utilities Board Approved
ELECTRIC SYSTEM REVENUE Electricity Sales 63,138,100 Other Revenue (including special sales) 325,000 Non-Operating Revenue 2,571,000 Total Electric System Revenues $ 66,034,100
MAINTENANCE & OPERATION COSTS Purchased Power (Including REC/C&T purchases) 36,077,461 O&M 8,494,257 Customer Accounts 6,310,329 Sales Expense 766,300 Administrative & General 9,704,180 Total Maintenance & Operation Costs $ 61,352,527
Net Revenue $ 4,681,573 Annual Debt Service (Principal & Interest) $ 2,656,676
Bond Coverage Ratio 1.76
Net Revenues Mandated by 1.1x Rate Covenant $ 2,922,344
Surplus Net Revenues (over Rate Covenant) $ 6,869,330
Section 2 - Page 1 Alameda Municipal Power Operating Reserve Compliance Test for the Year Ending June 30, 2022 Public Utilities Board Approved
Operating Reserve Calculation 145/360=40%
1 FY 2022 PURCHASED POWER BUDGET 36,077,461 2 Purchased Power Operating Reserve Requirement $ 14,431,000 3 Additional Risk Coverage Requirement $ -
4 Depreciation n/a 5 Distribution - Operations 7,155,357 6 Distribution - Maintenance 1,338,900 7 Customer Accounts 6,310,329 8 Sales 766,300 9 Administrative & General 9,704,180 10 Other Deductions & Outside Billing Projects n/a 11 Debt Related Charges (excluding amortization) 1,056,676 12 Transfer to City General Fund n/a 13 Long Term Debt Reduction 1,600,000 14 Reserves Funding n/a 15 Equipment Costs n/a 16 Capital Projects (excluding OSB) n/a 17 Operating Costs Funded by Reserves n/a 18 FY 2022 OPERATING BUDGET $ 27,931,742 19 Operations Operating Reserve Requirement $ 11,172,700
20 TOTAL OPERATING RESERVE REQUIREMENT >>>>>>>>>> $ 25,603,700
21 AVAILABLE FROM GOR >>>>>>>>>>>>>>>>>>>>>>>>>>>>> $ 5,640,851
22 AVAILABLE INVESTMENTS (6/30/20) >>>>>>>>>>>>>>>>> $ 45,327,362
23 DAYS OF OPERATING CASH (06/30/21) >>>>>>>>>>>>>>>>> 289
24 DAYS OF OPERATING CASH (June 30, 2022) >>>>>>>>>>>>>>> 272 (Note: Does not include non-operating expenses)
Section 2 - Page 2 Section 3
AMP Budget
(Summary Financial Information by FERC accounts) This Page Left Intentionally Blank Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Summary - Page 1 of 13 Public Utilities Board Approved
FY2021 FY2022 Budget Difference % Budget A B=C-A B1=B/A C OPERATING REVENUES Sales of Electricity 62,731,000 407,100 0.65% 63,138,100 C&T Sales Income 1,430,266 (348,070) -24.34% 1,082,196 REC Sales Income - - 0.00% - LCFS Income 1,000,000 - 100.00% 1,000,000 Other Operating Revenues 397,749 (72,749) -18.29% 325,000 Total Revenue from Operations 65,559,015 (13,719) -0.02% 65,545,296
PURCHASED POWER Purchase Power Costs (35,789,485) (287,976) 0.80% (36,077,461) Total PURCHASED POWER (35,789,485) (287,976) 0.80% (36,077,461)
OPERATING EXPENSES Depreciation (3,400,000) (200,000) 5.88% (3,600,000) Distribution - Operations (6,181,555) (943,802) 15.27% (7,125,357) Distribution - Maintenance (1,213,900) (155,000) 12.77% (1,368,900) Customer Accounts (6,901,495) 591,166 -8.57% (6,310,329) Sales (644,800) (121,500) 18.84% (766,300) Administrative & General (9,940,171) 235,991 -2.37% (9,704,180) Total Expense from Operations (28,281,921) (593,145) 2.10% (28,875,066)
Non-operating Revenues/(Expenses) Interest Income 1,225,000 (100,000) -8.16% 1,125,000 Other Revenues & Outside Billing Projects 1,440,860 5,141 0.36% 1,446,000 Other Deductions & Outside Billing Projects (1,053,000) (47,000) 4.46% (1,100,000) Debt Related Charges (1,199,505) 80,829 -6.74% (1,118,676) PILOT / ROI (1,549,096) (10,904) 0.70% (1,560,000) Transfer to City General Fund (4,014,884) (149,572) 3.73% (4,164,456) Total Non-op Revenues/(Expenses) (5,150,625) (221,507) 4.30% (5,372,132)
Net Income (Loss) (3,663,017) (1,116,346) 30.48% (4,779,363)
Add Back Non-Cash Items Depreciation 3,400,000 200,000 5.88% 3,600,000 Debt Cost Amortization 62,000 - 0.00% 62,000 Subtotal - Non Cash Items 3,462,000 200,000 5.78% 3,662,000
Other Additions Capital Costs by UUD Reserves 1,531,000 128,962 8.42% 1,659,962 Expenses by C&T, LCFS, & REC Sales Reserves 1,902,500 (336,000) -17.66% 1,566,500 Capital Costs by C&T / REC Sales Reserves 2,262,350 (909,250) -40.19% 1,353,100 C&T/REC Power Costs by Reserves 2,629,032 914,568 34.79% 3,543,600 Subtotal - Other Additions 8,324,882 (201,720) -2.42% 8,123,162
Other Reductions Debt Principal Repayment (1,485,000) (115,000) 7.74% (1,600,000) UUD Reserve Funding (1,255,000) (8,000) 0.64% (1,263,000) C&T / REC Sales Reserve Funding (2,430,266) 348,070 -14.32% (2,082,196) Capital Projects (excluding OSB) (7,125,807) 2,243,645 -31.49% (4,882,162) Subtotal - Other Reductions (12,296,073) 2,468,715 -20.08% (9,827,358)
Adj. To Reserves/Revenue Requirement (4,172,210) 1,350,649 -32.37% (2,821,559)
Budgeted Full-time Staff 92 2 2.17% 94 Forecasted MWH Sales 345,321 (5,517) -1.60% 339,804 Average Sales Revenue Per KWH $ 0.1817 $ 0.0041 2.28% $ 0.1858 Section 3 - Page 1 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Expense Type Breakdown - Page 2 of 13 Public Utilities Board Approved FY2022 Direct Cost Labor Services Material Requirement A B C E=A+B+C 1 2 3 Purchased Power Costs - (32,533,861) - (32,533,861)
Operating Expenses Distribution - Operations (6,119,355) (593,502) (412,500) (7,125,357) Distribution - Maintenance (723,900) (335,000) (310,000) (1,368,900) Customer Accounts (2,491,984) (2,558,745) (1,259,600) (6,310,329) Sales (485,800) (275,500) (5,000) (766,300) Administrative & General (2,987,100) (6,567,230) (149,850) (9,704,180) Total Expense from Operations (12,808,139) (10,329,977) (2,136,950) (25,275,066)
Non-operating Revenue/(Expenses) Interest & Dividends - 1,125,000 - 1,125,000 Outside Billing Revenue 1,100,000 - 1,100,000 Miscellaneous Non-Operating Revenue - 346,000 - 346,000 Debt Related Charges - (1,118,676) - (1,118,676) Outside Billing Expense - (1,100,000) - (1,100,000) Miscellaneous Non-Operating Expense - - - Payment In-Lieu of Taxes / ROI - (1,560,000) - (1,560,000) Transfer to the General Fund - (4,164,456) - (4,164,456) Total Non-operating Expenses - (5,372,132) - (5,372,132)
Other Additions / (Reductions) Debt Principal Repayment (1,600,000) 0 (1,600,000) Reserves Funding (3,345,196) 0 (3,345,196) Costs by Reserves - 7,873,162 250,000 8,123,162 Capital Projects (4,632,162) (250,000) (4,882,162) Total Other Reductions - (1,704,196) - (1,704,196)
Total expense costs (12,808,139) (49,940,166) (2,136,950) (64,885,255)
Non-Cash Items Depreciation (3,600,000) (3,600,000) Amortization of Debt Expense (62,000) (62,000) Total Non-Cash Items - (3,600,000) (62,000) (3,662,000)
Section 3 - Page 2 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Operating Revenues - Page 3 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Sales of Electricity D-1 Residential 10.5101 $ 24,599,300 $ 1,710,300 7.0% 26,309,600 D-2 Residential Multi-Family 10.5103 399,800 $ 65,600 16.4% 465,400 A-1 Commercial - Small 10.5121 10,441,700 $ (236,600) -2.3% 10,205,100 A-2 Commercial - Demand 10.5122 19,905,300 $ (2,355,400) -11.8% 17,549,900 A-3 Commercial - Demand 10.5131 4,974,000 $ 1,118,500 22.5% 6,092,500 A-4/OL L Street & Highway Lighting 10.5171 18,200 $ (700) 0.0% 17,500 M-1 City - Other Sales 10.5151 1,845,300 $ 122,200 6.6% 1,967,500 M-2 City/AMP - Street Lighting 10.5172 320,200 $ (29,900) 0.0% 290,300 M-3 City - AMP 10.5154 137,700 $ 10,100 0.0% 147,800 CT Combustion Turbine 10.5173 89,500 $ 3,000 3.4% 92,500 VG Net Sales - Residential 10.5181,3 $ - 0.0% VG Net Sales - Commercial 10.5182,4 - $ - 0.0% - Total Sales of Electricity 62,731,000 407,100 0.65% 63,138,100
Cap & Trade Income C&T Sales 10.5411 1,430,266 (348,070) -24.3% 1,082,196 Total C&T Net Income 1,430,266 (348,070) -24.34% 1,082,196
REC Sales Income REC Sales 10.5551 - - 0.00% - Total REC Net Income - - 0.00% -
LCFS Sales Income LCFS Sales 10.5611 1,000,000 - 0.00% 1,000,000 Total REC Net Income 1,000,000 - 0.00% 1,000,000
Other Operating Revenue Reconnection Charges 10.5201 54,084 (4,084) -7.55% 50,000 Account Establishment Fees 10.5202 76,290 13,710 17.97% 90,000 Returned Checks 10.5203 12,188 (2,188) -17.95% 10,000 Field Visits / Trouble Calls 10.5205 190,631 (90,631) -47.54% 100,000 Late Charges 10.5206 64,557 10,443 16.18% 75,000 Energy Adjustment Charge (EAC) 10.5231 - - 0.00% - Total Other Operating Revenue 397,749 (72,749) -18.29% 325,000
Total Operating Revenue 65,559,015 (13,719) -0.02% 65,545,296
Section 3 - Page 3 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Purchased Power - Page 4 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget Demand Charges NCPA Comb. Turb. 2 10.6102 $ (399,600) $ (51,158) 12.8% $ (450,758) NCPA Hydro-Debt Serv., etc. 10.6103 (1,759,886) (308,734) 17.5% $ (2,068,620) NCPA Geo. Plant 1&2-Debt Serv.etc. 10.6105 (4,707,458) (928,956) 19.7% $ (5,636,414) NCPA Comb. Turb. 1 Debt Serv., etc 10.6106 (1,488,825) 170,700 -11.5% $ (1,318,125) NCPA Geo. Plant 2-Debt Serv.etc. 10.6107 (5,226,113) (45,826) 0.9% $ (5,271,939) Total Demand Charges (13,581,884) (1,163,972) 8.6% (14,745,856)
Energy Charges NCPA Comb. Turb 2 10.6123 (193,140) (103,247) 53.5% $ (296,387) NCPA Hydro 10.6124 (327,324) (1,070) 0.3% $ (328,394) WAPA - Energy 10.6125 (1,956,148) 211,811 -10.8% $ (1,744,337) NCPA Geo. Plant 1 10.6126 (473,827) 17,398 -3.7% $ (456,429) NCPA Comb Turb. 1 10.6127 (231,371) 34,377 0.0% $ (196,994) Member Contract Costs 10.6143 (10,914,759) 76,295 -0.7% $ (10,838,464) member Contract Revenues 10.6144 5,378,956 781,229 14.5% $ 6,160,185 Butte Energy Landfill Gas 10.6148 - - $ - Total Energy Charges (8,717,614) 1,016,794 -11.7% (7,700,820)
Energy Sales / Purchases NCPA Local Capacity Sales 10.6108 $2,659,918 (395,996) -14.9% $ 2,263,922 GHG Allowance Purchase 10.6255 (8,214) (11,574) 140.9% $ (19,788) NCPA - Western Other Revenue 10.6133 $1,766,706 125,818 7.1% $ 1,892,524 NCPA - Other Misc. Energy Revenue 10.6134 $168,336 3,875 2.3% $ 172,211 Doolittle Energy Purchase 10.6117 ($387,612) 226,107 -58.3% $ (161,505) NCPA Prior year true-up 10.6139 $200,000 500,000 250.0% $ 700,000 Total Energy Sales / Purchases 4,399,135 448,229 10.2% 4,847,364
Other Purchased Power Dispatch Services (SCALD) 10.6161 (1,075,859) (118,360) 11.0% $ (1,194,219) NCPA JPA Assessment 10.6163 (53,489) (3,967) 7.4% $ (57,456) NCPA MPP Monthly Fee 10.6164 (845,820) 780,952 -92.3% $ (64,868) NCPA Management Programs & Other 10.6167 (177,180) (13,141) 7.4% $ (190,321) NCPA CT#2 (STIG) - Revenue 10.6112 442,328 169,504 38.3% $ 611,832 NCPA Calaveras - Revenue 10.6113 2,281,742 (8,467) -0.4% $ 2,273,275 NCPA - Geothermal Revenue 10.6115 4,567,656 316,035 6.9% $ 4,883,691 NCPA CT#1 - Revenue 10.6116 286,147 (2,581) -0.9% $ 283,566 Wildfire Insurance 10 6170 (274,920) 274,920 -100.0% $ - ISO Load Aggregation 10.6166 (13,357,388) (1,605,362) 12.0% $ (14,962,750) Total Other Power Costs (8,206,781) (210,469) 2.6% (8,417,250)
Transmission Related Transmission-TANC COTP/SOT (Debt) 10.6172 (35,904) 35,904 -100.0% $ - Transmission-ISO GMC and TAC 10.6175 (9,874,048) (410,974) 4.2% $ (10,285,022) Transmission - Ancillary Sales to ISO 10.6176 227,611 (3,488) -1.5% $ 224,123 Total Transmission Related Costs (9,682,342) (378,557) 3.9% (10,060,899)
Total Purchased Power Costs (Net) $ (35,789,485) $ (287,976) 0.8% $ (36,077,461)
Reserve Funding - included in total power costs C&T Renewable Purchases 10 6142 1,725,000 1,275,000 73.9% $ 3,000,000 SVP Energy Purchases-REC Funded 10 6169 904,032 (360,432) -39.9% $ 543,600 Total Reserve Funded Power Costs 2,629,032 914,568 34.8% 3,543,600
Section 3 - Page 4 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Distribution Expenses - Operations - Page 5 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Oper., Superv. & Engineering 580 $ (1,583,720) $ (9,990) 0.6% $ (1,593,710)
Vehicle Expenses 581 $ (130,000) (50,000) 38.5% $ (180,000)
Station Expenses 582 $ (1,072,340) (354,962) 33.1% $ (1,427,302)
Overhead & Underground Line Exp. 583 $ (197,700) (60,200) 30.5% $ (257,900)
Street Lighting Expenses 585 $ - - 0.0% $ -
Meter Expenses 586 $ - - 0.0% $ -
Customer Installation Expenses 587 $ (769,100) (36,200) 4.7% $ (805,300)
Distribution Maps & Records 588.101 $ (653,145) (76,280) 11.7% $ (729,425)
Wages & Exp. - Gen. Office 588.201 $ (1,775,550) (356,170) 20.1% $ (2,131,720)
Distribution Operations Expenses $ (6,181,555) $ (943,802) 15.3% $ (7,125,357)
Section 3 - Page 5 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Distribution Expenses - Maintenance - Page 6 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Maint. Of Station Equip. 592 (565,800) (192,700) 34.1% $ (758,500)
Maint. Of Overhead Lines 593 (300,000) (60,000) 20.0% $ (360,000)
Maint. Of Underground Lines 594 (200,000) 100,000 -50.0% $ (100,000)
Maint. Of Misc.Distributuion Plant 598 (148,100) (2,300) 1.6% $ (150,400)
Total Distr. Maint. Expenses $ (1,213,900) $ (155,000) 12.8% $ (1,368,900)
Section 3 - Page 6 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Customer Accounts Expenses - Page 7 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Supervision 901 $ (517,400) $ 122,100 -23.6% $ (395,300)
Meter Reading Expense 902 (66,900) (1,000) 1.5% $ (67,900)
Customer Records & Collections 903 (788,700) (67,700) 8.6% $ (856,400)
Uncollectible Accounts 904 (9,000) (16,000) 177.8% $ (25,000)
Intern & Temp Staffing Services 905 (50,000) - 0.0% $ (50,000)
Computer Services 906 (2,821,495) 210,766 -7.5% $ (2,610,729)
Customer Assistance Expense: Administration 908.101 (264,500) (4,500) 1.7% $ (269,000) Energy Efficiency 908.102 (324,000) 169,000 -52.2% $ (155,000) Low Income & Project EASE 908.105 (140,000) (10,000) 7.1% $ (150,000)
Inform. & Instructional Adver. 909 (17,000) 2,500 -14.7% $ (14,500)
GHG Reduction (C&T / REC) 910 (1,952,500) 236,000 -12.1% $ (1,716,500)
Total Customer Accounts Expense $ (6,951,495) $ 641,166 -9.2% $ (6,310,329)
Section 3 - Page 7 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Sales Expenses - Page 8 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Demonstrating & Selling Expense 912 $ (554,800) $ 500 -0.1% $ (554,300)
External Communications 913 (90,000) (122,000) 135.6% $ (212,000)
Total Sales Expense $ (644,800) $ (121,500) 18.8% $ (766,300)
Section 3 - Page 8 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Administrative & General Expenses - Page 9 of 13 Public Utilities Board Approved
FY2021 FY2022 Extended FERC Account No. Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Admin. & General Salaries 920 920 $ (2,464,900) (125,600) 5.1% $ (2,590,500)
Office Expenses & Supplies 921 921 (437,800) 20,109 -4.6% (417,691)
Expense Transferred to WO's 922 922 1,200,000 50,000 4.2% 1,250,000
Outside Services Employed 923 923 (1,610,982) (47,266) 2.9% (1,658,247)
Property Insurance 924 924 (110,000) (153,317) 139.4% (263,317)
Injuries & Damages - Insurance 925 925 (771,957) 239,697 -31.1% (532,260)
Employee Welfare Expenses 926.100 (2,624,101) 247,242 -9.4% (2,376,859)
Retirement 926.200 (2,114,555) 15,425 -0.7% (2,099,130)
Misc. General Expenses 930 930 (123,000) 2,000 -1.6% (121,000)
Misc. Facilities Rentals 931 931 (341,000) 14,000 -4.1% (327,000)
Maintenance Of General Plant 935 935 (526,876) (26,300) 5.0% (553,176)
Telephone Expense 417 417 (15,000) - 0.0% (15,000)
Total Administrative & General Expense $ (9,940,171) $ 235,991 -2.4% $ (9,704,180)
Section 3 - Page 9 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Non-Operating Revenue/(Expenses) - Page 10 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Non-Operating Revenue Interest & Dividends Other Interest 10.9141 $ 1,225,000 $ (100,000) -8.2% $ 1,125,000 Interest from Restricted Funds 10.9151 - - 0.0% - Subtotal - Interest & Divends 1,225,000 (100,000) -8.2% 1,125,000 - Outside Billing Revenue 10.9121 1,053,000 47,000 4.5% 1,100,000
Miscellaneous Non-Operating Revenue Conduit Lease Income 10.xxxx - - - Joint Pole Agreement Income 10.9101 282,702 (32,702) -11.6% 250,000 Municipal Area Network (MAN) 10.9102 79,137 (4,137) -5.2% 75,000 Sale Of Excess Material 10.9107 4,500 (1,500) -33.3% 3,000 Alameda Point Telephone 10.5305 17,021 (2,021) -11.9% 15,000 Miscellaneous Revenue 10.9106 4,500 (1,500) -33.3% 3,000 Subtotal Misc. Non-Operating Revenue 387,860 (41,860) -10.8% 346,000
Subtotal Other Revenue & Outside Billing 1,440,860 5,141 0.4% 1,446,000
Total Non-Operating Revenue 2,665,860 (94,860) -3.6% 2,571,000
Non-Operating Expenses Debt Related Charges Interest Payable - 2010 A/B Bonds 10.9161 (1,137,505) 80,829 -7.1% (1,056,676) Amort. Of Debt Expense (non-cash) 10.9163 (62,000) - 0.0% (62,000) AMI Debt related Charges 10.9166 - - 100.0% - Subtotal (1,199,505) 80,829 -6.7% (1,118,676)
Outside Billing Expense (w/OH) 10.9125 (1,053,000) (47,000) 4.5% (1,100,000)
Miscellaneous Non-Operating Expense Other Uncollectible Claims - - 0.0% - Alameda Point Telephone 30.80xx - - 0.0% - Miscellaneous Fees 10.9182 - - 0.0% - Subtotal - - 0.0% -
City Non-Operating Expense Payment In-Lieu Of Taxes / ROI 10 9181 (1,549,096) (10,904) 0.7% (1,560,000) Transfer to the General Fund 10 9201 (4,014,884) (149,572) 3.7% (4,164,456) Subtotal (5,563,980) (149,572) 2.7% (5,724,456)
Total Non-Operating Expenses (7,816,485) (115,743) 1.5% (7,943,132)
Total Non-Operating Revenue/ (Expenses) $ (5,150,625) $ (210,603) 4.1% $ (5,372,132)
Section 3 - Page 10 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Reserves and Debt Service - Page 11 of 13 Public Utilities Board Approved
FY2021 FY2022 Account Operating Difference / Operating No. Budget Difference FY2021 Budget Budget
Long Term Debt Reduction Debt Principal Repayment 224 $ (1,485,000) $ (115,000) 7.7% $ (1,600,000) Lease financing principal 231 - - - Total Costs Long Term Debt Reduction (1,485,000) (115,000) 7.7% (1,600,000)
Reserves Funded By Revenue Requirement Insurance Reserve Fund 10 2107 - - 0.0% - Undergrounding Reserve 10 2111 (1,255,000) (8,000) 0.6% (1,263,000) Total Funded Reserves (1,255,000) (8,000) 0.6% (1,263,000)
Reserves Funded By Special Sales C&T Net Revenue Reserve Fund 10 2114 (1,430,266) 348,070 -24.3% (1,082,196) LCFS Revenue Reserve Fund 10 2115 (1,000,000) - 100.0% (1,000,000) REC Sales Net Revenue Reserve Fund 10 2113 - - 0.0% - Total Special Sales Reserves (2,430,266) 348,070 -14.3% (2,082,196)
Reserves Used for Operations Insurance Reserve Fund 10 2107 - - 0.0% - Undergrounding Reserve 10 2111 1,531,000 128,962 8.4% 1,659,962 Total Reserves Used for Operations 1,531,000 128,962 8.4% 1,659,962
Reserves Used For Special Purposes C&T Net Revenue Reserve Fund 10 2114 $2,031,550 1,406,550 69.2% $ 3,438,100 LCFS Net Revenue Reserve Fund 10 2115 $704,500 (207,000) 100.0% $ 497,500 REC Sales Net Revenue Reserve Fund 10 2113 3,153,800 (626,200) -19.9% $ 2,527,600 Total Reserves Used for Special Purposes $5,889,850 573,350 9.7% 6,463,200
Reserve Balance as of June 30 (Estimated) FY2021 FY2022 Insurance Reserve Special Fund Info 1,200,000 - 1,200,000 Solar Reserve Fund Info - 0.0% - Undergrounding Reserve Fund Info 12,275,647 606,407 4.9% 12,882,054 LCFS Reserves Info 1,737,572 917,376 52.8% 2,654,948 C&T Net Revenue Reserve Fund Info 3,619,827 (1,068,087) -29.5% 2,551,740 REC Sales Net Revenue Reserve Fund Info 19,821,572 (661,620) -3.3% 19,159,952 Total Reserve Balances as of June 30 $ 38,654,617 $ (205,923) -0.5% $ 38,448,694
>> Note: See Surcharge (Revenue) and Customer Service (Expense) for Solar Rebate
Section 3 - Page 11 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Capital & Equipment Expenditures - Page 12 of 13 Public Utilities Board Approved
FY2021 FY2022 Operating Difference / Operating Budget Difference FY2021 Budget Budget
Capital Projects with Overhead Support Services Capital Projects $ (185,000) $ 10,000 -5.4% (175,000) Finance/Billing System Improvements $ - 0.0% - Information Systems Capital Projects (200,000) (655,000) 327.5% (855,000)
System Enhancements (Capitalized) (605,310) 605,310 -100.0% - Utility System Improvements (460,000) 120,900 -26.3% (339,100) Inventory Additions (long lead items) (1,531,147) 1,531,147 -100.0% - New Business (351,000) (149,000) 42.5% (500,000) Underground Utility District Projects (1,531,000) (128,962) 8.4% (1,659,962) GHG Reduction Projects (C&T) (306,550) (131,550) 42.9% (438,100) GHG Reduction Projects (REC) (1,955,800) 1,040,800 -53.2% (915,000) Total Capital Projects $ (7,125,807) $ 2,243,645 -31.5% $ (4,882,162)
Outside Billing (Projected) $ 1,053,000 $ 47,000 4.5% $ 1,100,000
Section 3 - Page 12 Alameda Municipal Power Operating Budget and Revenue Requirement for the Year Ending June 30, 2022 Balancing Account Adjustment - Page 13 of 13 Public Utilities Board Approved
Budget FY2022 1 Sales of Electr icity 63,138,100
Other Revenue Sour ces 11 Solar Surcharge - 12 C&T / REC Sales Income 1,082,196 13 Other Operating Income 325,000 14 Interest Income (Excluding Restriced Interest Income) 1,125,000 15 Miscellaneous Non-Operating Income/Expense (Net) 346,000 16 Operating & Capital Costs by Reserves 8,123,162 17 Total Other Revenue Sources 11,001,358
Retainments 20 Retainments: UUD Reserve Funding (1,263,000) 21 Retainments: C&T / REC Sales Net Income Reserve Funding (1,082,196) 22 Total Retainments (2,345,196)
30 Pur chased Power Costs (36,077,461)
Expense I tems Included I n Non-Power Costs 40 Non-Power Costs Before Balancing Account Adjustment (28,875,066) 41 Remove from Non-Power Cost: Depreciation 3,600,000 42 Debt Related Charges (1,118,676) 43 Remove from Debt Related Charges: Amortization of Debt Expense 62,000 44 Payment In-Lieu of Taxes (1,560,000) 45 Debt Principal Payment (Exclude 2010 A/B) - 46 Capital Projects (4,882,162) 47 Total Non-Power Costs (32,773,904)
Recap of I ncome and Expenses 1 Sales of Electricity 63,138,100 17 Other Revenue Sources 11,001,358 22 Retainments (2,345,196) 30 Purchased Power Costs (36,077,461) 47 Non-Power Costs (32,773,904) 50 Over (Under) Collection (Excluding GF Transfer) 2,942,897
60 Balancing Account - Forecast @ June 30, 2020 (26,813,387) 50 Over (Under) Collection (Excluding GF Transfer) 2,942,897 51 Transfer To City of Alameda General Fund (4,164,456) 61 Balancing Account - Forecast @ June 30, 2022 (28,034,946)
Section 3 - Page 13
Section 4
Detailed Financial Information
(by FERC accounts)
This Page Left Intentionally Blank
Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Administration Office Supplies & Expense 10 20100 3 8101 10 2010038101 921 2,500.00
Admin Administration Training & Seminars 10 20100 2 8332 10 2010028332 921 7,000.00
921 Total 9,500.00
Admin Administration Consulting 10 20100 2 8372 10 2010028372 923 100,000.00
Admin Administration Legal Services-Outside Counsel 10 20100 2 8371 10 2010028371 923 175,000.00
923 Total 275,000.00
Admin Administration Regular Pay 10 20100 1 7101 10 2010017101 920 280,300.00
920 Total 280,300.00
Admin City Pilot / Roi 10 9181 0 10 9181 408 1,560,000.00
408 Total 1,560,000.00
Admin City Transfer To City Of Alameda 10 9201 0 10 9201 437 4,164,456.00
437 Total 4,164,456.00
Section 4 - Page 1 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Debts 2010B Taxable Rev Bond 10 4108 0 10 4108 224 1,600,000.00
224 Total 1,600,000.00
Admin Debts Debt Interest Payments 10 9161 0 10 9161 427 1,056,676.00
427 Total 1,056,676.00
Admin Debts Amortization Of Debt Issuance 10 9163 0 10 9163 428 62,000.00
428 Total 62,000.00
Admin Finance & Accounting Advertising & Misc. Expense 10 23100 2 8103 10 2310028103 921 2,500.00
Admin Finance & Accounting Training & Seminars 10 23100 2 8332 10 2310028332 921 25,000.00
Admin Finance & Accounting Consulting Services 10 23100 2 8372 10 2310028372 921 10,000.00
921 Total 37,500.00
Admin Finance & Accounting Trustee & Other Debt Costs 10 23100 2 8391 10 2310028391 923 10,000.00
923 Total 10,000.00
Section 4 - Page 2 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Finance & Accounting Regular Pay 10 23400 1 7101 10 2340017101 906 360,400.00
Admin Finance & Accounting Overtime Pay 10 23400 1 7121 10 2340017121 906 24,000.00
906 Total 384,400.00
Admin Finance & Accounting City O/H Cost Alloc.-Info Tech 10 23200 2 8401 10 2320028401 923 89,834.77
Admin Finance & Accounting City O/H Cost Alloc-Acct Srvs 10 23200 2 8402 10 2320028402 923 45,672.26
Admin Finance & Accounting City O/H Cost Allocation - H/R 10 23200 2 8403 10 2320028403 923 296,964.12
Admin Finance & Accounting City O/H Cost Alloc-Bldg Serv 10 23200 2 8404 10 2320028404 923 986.74
Admin Finance & Accounting Cty O/H Cst Alloc-Cty Mgr/Cncl 10 23200 2 8405 10 2320028405 923 122,619.44
Admin Finance & Accounting City O/H Cost Alloc-Legal 10 23200 2 8406 10 2320028406 923 262,170.02
923 Total 818,247.35
Admin Finance & Accounting Property Insurance 10 23500 2 8601 10 2350028601 924 263,316.86
924 Total 263,316.86
Section 4 - Page 3 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Finance & Accounting City O/H Cost Alloc-Risk Mgmt 10 23200 2 8407 10 2320028407 925 2,163.00
Admin Finance & Accounting O/H Cost Alloc - Workers Cmp 10 23200 2 8409 10 2320028409 925 37,391.00
Admin Finance & Accounting Liability Insurance 10 23500 2 8602 10 2350028602 925 244,081.00
925 Total 283,635.00
Admin Finance & Accounting Regular Pay 10 23300 1 7101 10 2330017101 920 571,900.00
Admin Finance & Accounting Overtime Pay 10 23300 1 7121 10 2330017121 920 11,400.00
920 Total 583,300.00
Admin Finance & Accounting Annual Report 10 23300 2 8153 10 2330028153 921 10,000.00
Admin Finance & Accounting Office Supplies & Expense 10 23300 3 8101 10 2330038101 921 7,500.00
921 Total 17,500.00
Admin Finance & Accounting Outside Auditor Fees 10 23300 2 8373 10 2330028373 923 65,000.00
923 Total 65,000.00
Section 4 - Page 4 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Finance & Accounting Benefit - Labor Overhead 10 23700 2 8612 10 2370028612 922 (1,250,000.00)
922 Total (1,250,000.00)
Admin Finance & Accounting Worker'S Compensation 10 23600 2 8622 10 2360028622 925 208,625.00
925 Total 208,625.00
Admin Finance & Accounting Health Insurance 10 23600 2 7201 10 2360027208 926 2,142,864.00
Admin Finance & Accounting Dental/Vision insurance 10 23600 2 7231 10 2360027231 926 151,027.00
Admin Finance & Accounting PERS City Portion - Misc 10 23600 2 7242 10 2360027242 926 1,934,103.61
Admin Finance & Accounting Medicare Fringe 10 23600 2 7248 10 2360027248 926 165,025.95
Admin Finance & Accounting Life Insurance 10 23600 2 7262 10 2360027265 926 18,658.00
Admin Finance & Accounting Unemployment Insurance 10 23600 2 7281 10 2360027281 926 64,310.00
926 Total 4,475,988.56
Admin Finance & Accounting Regular Pay 10 24100 1 7101 10 2410017101 902 67,700.00
Section 4 - Page 5 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Finance & Accounting Working Clothing Expense 10 24100 3 8191 10 2410038191 902 200.00
902 Total 67,900.00
Information Admin Systems Office Supplies & Expense 10 21100 2 8101 10 2110028101 906 11,500.00
Information Admin Systems Elec Bills-Print/Mail Service 10 21100 2 8271 10 2110028271 906 310,000.00
Information Admin Systems PC Software Service 10 21100 2 8502 10 2110028502 906 269,295.00
Information Admin Systems Hardware Maintenance 10 21100 2 8521 10 2110028521 906 94,600.00
Information Admin Systems Software Maintenance 10 21100 2 8526 10 2110028526 906 298,800.00
Information Admin Systems ITRON Meter Reading Sys Maint. 10 21100 2 8527 10 2110028527 906 6,000.00
Information Admin Systems Internet Services 10 21100 2 8529 10 2110028529 906 46,050.00
Information Admin Systems PC Software Purchases 10 21100 3 8502 10 2110038502 906 32,600.00
Information Admin Systems Software Maintenance 10 21100 3 8526 10 2110038526 906 45,000.00
Information City Provided PC/Network Admin Systems Maintenance 10 21100 2 8522 10 2110028522 906 10,000.00
Section 4 - Page 6 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
906 Total 1,123,845.00
Information Admin Systems Training & Seminars 10 21100 2 8332 10 2110028332 921 32,150.00
921 Total 32,150.00
Information Admin Systems Contract Consulting Services 10 21100 2 8375 10 2110028375 923 200,000.00
923 Total 200,000.00
Information Alameda Point Tele-M&R Admin Systems Subcontracts 10 21100 2 6701 10 2110026701 417 10,000.00
Information Admin Systems Alameda Point Tele-Switch/Equip 10 21100 2 6702 10 2110026702 417 5,000.00
417 Total 15,000.00
Information Admin Systems MAN Maintenance - Services 10 21100 2 8523 10 2150028523 906 10,000.00
Information Admin Systems MAN Maintenance - Material 10 21100 3 8523 10 2150038523 906 6,000.00
Information Admin Systems PC & Network Maintenance 10 21300 2 8524 10 2130028524 906 78,700.00
Information Admin Systems PC & Network Maint.material 10 21300 3 8524 10 2130038524 906 140,800.00
Section 4 - Page 7 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Information Admin Systems Regular Pay 10 21100 1 7101 10 2110017101 906 866,984.00
906 Total 1,102,484.00
Admin Support Services Substation Electricity & Water 10 22100 2 8442 10 2210028442 582 43,502.00
582 Total 43,502.00
Admin Support Services Training & Seminars 10 22100 2 8332 10 2210028332 921 8,000.00
Information Admin Systems Util/Local,Long Dist Carrier 10 21100 2 8421 10 2110028421 921 60,000.00
Admin Support Services Advertising & Misc. Expense 10 22100 2 8103 10 2210028103 921 2,000.00
Admin Support Services PILOT Wire fee by AT&T fr PG&E 10 22100 2 8425 10 2210028425 921 5,677.00
Admin Support Services Util./ Gas,Electric,Water,Garb 10 22100 2 8446 10 2210028446 921 120,014.00
Information Admin Systems Copier Leases 10 21100 2 8541 10 2110028541 921 35,000.00
Admin Support Services Office Supplies & Expense 10 22100 3 8101 10 2210038101 921 2,000.00
Admin Support Services Postage & Supplies 10 22101 3 8312 10 2210138312 921 24,000.00
Section 4 - Page 8 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Support Services Records storage & disposal 10 22102 2 8104 10 2210228104 921 5,600.00
921 Total 262,291.00
Admin Support Services Regular Pay 10 22200 1 7101 10 2220017101 935 96,100.00
Admin Support Services Cleaning & Maintenance 10 22200 2 8176 10 2220028176 935 126,976.00
Admin Support Services Material,Supply,Sm tool &Equip 10 22200 3 8173 10 2220038173 935 20,000.00
Admin Support Services Working Clothing Expense 10 22200 3 8191 10 2220038191 935 2,600.00
935 Total 245,676.00
Admin Support Services City Sewer Charge 10 22100 2 8448 10 2210028448 921 3,500.00
921 Total 3,500.00
Admin Support Services Warehouse & parking Rents 10 22200 2 8432 10 2220028432 931 327,000.00
931 Total 327,000.00
Admin Support Services Regular Pay 10 22400 1 7101 10 2240017101 920 110,900.00
Section 4 - Page 9 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Admin Support Services Regular Pay 10 22100 1 7101 10 2210017101 920 305,500.00
920 Total 416,400.00
Admin Support Services Regular Pay 10 22300 1 7101 10 2230017101 935 284,200.00
Admin Support Services Overtime Pay 10 22300 1 7121 10 2230017121 935 16,300.00
Admin Support Services Shipping 10 22300 2 8313 10 2230028313 935 2,500.00
935 Total 303,000.00
LCFS Reserve Admin Expense Elec. - EV Charger station 10 56000 2 8589 10 5600028589 910 50,000.00
LCFS Reserve Admin Expense Maint.&Repairs - EV C. Station 10 56000 2 8590 10 5600028590 910 7,500.00
910 Total 57,500.00
Admin Support Services Stores Clearing - Freight 10 22300 3 8634 10 2230038634 935 4,500.00
935 Total 4,500.00
Customer Resources Communications Dues & Subscriptions 10 11100 2 8201 10 1110028201 930 2,000.00
Section 4 - Page 10 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
930 Total 2,000.00
Customer Resources Communications Travel Expenses - Staff 10 11100 2 8212 10 1110028212 921 1,500.00
921 Total 1,500.00
Customer Resources Communications Training & Seminars 10 11100 2 8332 10 1110028332 912 1,500.00
912 Total 1,500.00
Customer Resources Communications Public Outreach & Meetings 10 11200 2 8552 10 1120028552 909 2,500.00
909 Total 2,500.00
Customer Resources Communications Advertising 10 11300 2 8141 10 1130028141 913 40,000.00
Customer Resources Communications Advertising - Digital Outreach 10 11400 2 8141 10 1140028141 913 40,000.00
913 Total 80,000.00
Customer Resources Communications External Newsletter 10 11400 2 8151 10 1140028151 909 12,000.00
909 Total 12,000.00
Section 4 - Page 11 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Customer Resources Communications Regular Pay 10 41300 1 7101 10 4130017101 913 132,000.00
913 Total 132,000.00
Customer Resources Communications Temportary Staffing & Interns 10 41300 2 8376 10 4130028376 905 50,000.00
905 Total 50,000.00
Customer Resources Communications Employee Recognition Events 10 11500 2 7283 10 1150027283 930 1,500.00
Customer Employee Recognition Events- Resources Communications materials 10 11500 3 7283 10 1150037283 930 2,500.00
930 Total 4,000.00
Customer Resources Customer Programs Travel Expenses - Staff 10 40100 2 8212 10 4010028212 912 3,000.00
Customer Resources Customer Programs Training & Seminars 10 40100 2 8332 10 4010028332 912 4,000.00
Customer Resources Customer Programs Regular Pay 10 40200 1 7101 10 4020017101 912 353,800.00
Customer Resources Customer Programs Sponsorship 10 40200 2 8142 10 4020028142 912 35,000.00
Customer Resources Customer Programs Promotions 10 40200 2 8144 10 4002028144 912 70,000.00
Section 4 - Page 12 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Customer Resources Customer Programs Web Site Support 10 40200 2 8147 10 4020028147 912 50,000.00
912 Total 515,800.00
Customer Resources Customer Programs Dues & Subscriptions 10 40200 2 8201 10 4020028201 930 12,000.00
930 Total 12,000.00
Customer Resources Customer Programs Other Materials 10 40200 3 8254 10 4020038254 912 5,000.00
Customer Resources Customer Programs Market Research & Surveys 10 40206 2 8145 10 4020628145 912 32,000.00
912 Total 37,000.00
Customer Resources Customer Service Travel Expenses - Staff 10 41100 2 8212 10 4110028212 903 6,000.00
Customer Resources Customer Service Training & Seminars 10 41100 2 8332 10 4110028332 903 6,500.00
Customer Resources Customer Service Office Supplies & Expense 10 41100 3 8101 10 4110038101 903 5,000.00
Customer Resources Customer Service Regular Pay 10 41200 1 7101 10 4120017101 903 484,800.00
Customer Resources Customer Service Overtime Pay 10 41200 1 7121 10 4120017121 903 28,800.00
Section 4 - Page 13 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
903 Total 531,100.00
Customer Resources Customer Service Uncollectible Accounts/Claims 10 41200 2 8131 10 4120028131 904 5,000.00
Customer Resources Customer Service Collection Agency 10 41200 2 8132 10 4120028132 904 20,000.00
904 Total 25,000.00
Customer Resources Customer Service Lockbox 10 41200 2 8161 10 4120028161 903 50,000.00
Customer Resources Customer Service Credit Card Processing 10 41200 2 8162 10 4120028162 903 260,000.00
Customer Resources Customer Service Online Payment Services 10 41200 2 8163 10 4120028163 903 5,000.00
Customer Resources Customer Service Pay Station Fees 10 41200 2 8164 10 4120028164 903 1,800.00
Customer Resources Customer Service Elec Bills-Print/Mail Service 10 41200 2 8271 10 4120028271 903 6,000.00
903 Total 322,800.00
Customer Resources Customer Programs Regular Pay 10 41300 1 7101 10 4130017101 901 395,300.00
901 Total 395,300.00
Section 4 - Page 14 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Customer Resources Customer Programs RFP/Advertising/Misc Expense 10 41300 2 8103 10 4130028103 903 2,500.00
903 Total 2,500.00
Customer Resources Energy Efficency Regular Pay 10 52100 1 7101 10 5210017101 908 264,000.00
908 Total 264,000.00
Customer Resources Energy Efficency Dues & Subscriptions 10 52100 2 8201 10 5210028201 930 2,000.00
930 Total 2,000.00
Customer Resources Energy Efficency Travel Expenses - Staff 10 52100 2 8212 10 5210028212 908 2,500.00
Customer Resources Energy Efficency Training & Seminars 10 52100 2 8332 10 5210028332 908 2,500.00
Customer Resources Energy Efficency Program Exp -Residential 10 52201 2 8467 10 5220128467 908 2,500.00
Customer Resources Energy Efficency Program Exp -Commercial 10 52301 2 8467 10 5230128467 908 2,500.00
Customer Resources Energy Efficency Rebates- Comm. Self Install 10 52302 3 8581 10 5230238581 908 150,000.00
Customer Resources Customer Programs Project Ease 10 53000 2 8463 10 5300028463 908 20,000.00
Section 4 - Page 15 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Customer Resources Customer Programs Customer Bill Assistance 10 53000 2 8464 10 5300028464 908 130,000.00
908 Total 310,000.00
Customer Resources Energy Efficency Measurement & Verification 10 55000 2 8468 10 5500028468 910 80,000.00
Customer Resources Energy Efficency EE Energy Audits 10 55501 2 8471 10 5550128471 910 70,000.00
Customer REC Reserve Resources Expense Rebates - New Construction 10 55500 2 8480 10 5550028480 910 150,000.00
Customer REC Reserve Resources Expense Residential Rebate Platform 10 55501 3 8472 10 5550138472 910 100,000.00
Customer REC Reserve Resources Expense Low Income Direct Install 10 55501 3 8583 10 5550138583 910 300,000.00
Customer REC Reserve Resources Expense Non-Res. Direct Install 10 55502 3 8477 10 5550238477 910 330,000.00
Customer REC Reserve Resources Expense Building Electrification Outreach 10 55502 2 8479 10 5550028479 910 60,000.00
Customer REC Reserve Resources Expense Building Electrification Residential 10 55502 2 8582 10 5550128582 910 75,000.00
Customer REC Reserve Building Electrification - Resources Expense Commercial 10 55502 2 8583 10 5550128583 910 52,000.00
Customer LCFS Reserve Resources Expense EV Public Outreach 10 56000 2 8467 10 5600028467 910 40,000.00
Section 4 - Page 16 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Customer LCFS Reserve Resources Expense EV Rebates - Residential 10 56000 2 8582 10 5600028582 910 200,000.00
Customer LCFS Reserve EV Charger Rebate - Non- Resources Expense Residential 10 56000 2 8582 10 5600028581 910 200,000.00
910 Total 1,657,000.00
Energy Resource Planning Energy Resources Travel Expenses - Staff 10 50100 2 8212 10 5010028212 921 7,500.00
Energy Resource Planning Energy Resources Training & Seminars 10 50100 2 8332 10 5010028332 921 15,000.00
Energy Resource Planning Energy Resources Office Supplies & Expense 10 50100 3 8101 10 5010038101 921 2,000.00
921 Total 24,500.00
Energy Resource Planning Energy Resources Dues & Subscriptions 10 50100 3 8201 10 5010038201 930 1,000.00
930 Total 1,000.00
Energy Resource Planning Energy Resources Regular Pay 10 50206 1 7101 10 5020617101 920 705,300.00
920 Total 705,300.00
Energy Resource Planning Energy Resources Temporary Staffing Agency 10 50206 2 8376 10 5020628376 923 10,000.00
Section 4 - Page 17 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Energy Resource Planning Energy Resources Consulting 10 50207 2 8372 10 5020728372 923 25,000.00
923 Total 35,000.00
Energy Resource Planning Power Bills CT2 Fixed Costs 10 6102 0 10 6102 555 450,758.00
Energy Resource Planning Power Bills Hydro Fixed Costs 10 6103 0 10 6103 555 2,068,620.00
Energy Resource Planning Power Bills GEO1 Fixed Costs 10 6105 0 10 6105 555 5,636,414.00
Energy Resource Planning Power Bills CT1 Fixed Costs 10 6106 0 10 6106 555 1,318,125.00
Energy Resource Planning Power Bills Debt Service - All Plants 10 6107 0 10 6107 555 5,271,939.00
Energy Resource Planning Power Bills Local Capacity Sales 10 6108 0 10 6108 555 (2,263,922.00)
Energy Resource Planning Power Bills NCPA CT#2 (STIG) - Revenue 10 6112 0 10 6112 555 (611,832.00)
Energy Resource Planning Power Bills NCPA Calaveras - Revenue 10 6113 0 10 6113 555 (2,273,275.00)
Energy Resource Planning Power Bills NCPA - Geothermal Revenue 10 6115 0 10 6115 555 (4,883,691.00)
Energy Resource Planning Power Bills NCPA Ct #1 Revenue 10 6116 0 10 6116 555 (283,566.00)
Section 4 - Page 18 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Energy Resource Planning Power Bills Doolittle power purchases 10 6117 0 10 6117 555 161,505.00
Energy Resource Planning Power Bills CT2 Variable Costs 10 6123 0 10 6123 555 296,387.00
Energy Resource Planning Power Bills Calaveras Variable Costs 10 6124 0 10 6124 555 328,394.00
Energy Resource Planning Power Bills WAPA CVP Restoration/Energy 10 6125 0 10 6125 555 1,744,337.00
Energy Resource Planning Power Bills GEO1 Variable Costs 10 6126 0 10 6126 555 456,429.00
Energy Resource Planning Power Bills CT1 Variable Costs 10 6127 0 10 6127 555 196,994.00
555 Total 7,613,616.00
Energy Resource Planning Power Bills Western Revenue 10 6133 0 10 6133 556 (1,892,524.00)
556 Total (1,892,524.00)
Energy Resource Planning Power Bills Other Revenue Adjustments 10 6134 0 10 6134 555 (172,211.00)
Energy Resource Planning Power Bills C&T Renewable Purchases 10 6142 0 10 6142 555 (3,000,000.00)
Energy Resource Planning Power Bills NCPA Refund - Prior Yr True Up 10 6139 0 10 6139 555 (700,000.00)
Section 4 - Page 19 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Energy Resource Planning Power Bills Member Contract Costs 10 6143 0 10 6143 555 10,838,464.00
Energy Resource Planning Power Bills Member Contract Revenues 10 6144 0 10 6144 555 (6,160,185.00)
555 Total 806,068.00
Energy Resource Planning Power Bills NCPA Power Management/SCALD 10 6161 0 10 6161 556 1,194,219.00
Energy Resource Planning Power Bills JPA Assessment 10 6163 0 10 6163 556 57,456.00
Energy Resource Planning Power Bills NCPA MPP Purchases and Fees 10 6164 0 10 6164 556 64,868.00
Energy Resource Planning Power Bills NCPA LEG® 10 6166 0 10 6166 556 190,321.00
556 Total 1,506,864.00
Energy Resource Planning Power Bills ISO Load Costs 10 6167 0 10 6167 565 14,962,750.00
Energy Resource REC Reserve REC-SVP & Doolittle Renewable Planning Expense Purchase 10 6169 0 10 6169 565 (543,600.00)
565 Total 14,419,150.00
Energy Resource Planning Power Bills ISO Transmission 10 6175 0 10 6175 565 10,285,022.00
Section 4 - Page 20 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Energy Resource Planning Power Bills Ancillary Service Revenues 10 6176 0 10 6176 565 (224,123.00)
565 Total 10,060,899.00
Energy Resource Planning Power Bills GHG Allowance Purchase 10 6255 0 10 6255 555 19,788.00
555 Total 19,788.00
Energy Resource REC Reserve Planning Expense REC Wregis FEE 10 55500 2 8382 10 5550028382 910 2,000.00
910 Total 2,000.00
Eng & Ops Engineering Regular Pay 10 30100 1 7101 10 3010017101 580 559,635.00
580 Total 559,635.00
Eng & Ops Engineering Regular Pay 10 30200 1 7101 10 3020017101 588 337,025.00
Eng & Ops Engineering Reproduction/Drafting Paper 10 30300 2 8186 10 3030028186 588 5,000.00
588 Total 342,025.00
Eng & Ops Substations Freight Charges - Ops 10 31200 2 8634 10 3120028634 592 -
Section 4 - Page 21 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Eng & Ops Substations Equipment Maintenance 10 31201 2 8491 10 3120128491 592 135,000.00
Eng & Ops Substations Regular Pay 10 31202 1 7101 10 3120217101 592 163,700.00
Eng & Ops Substations Overtime Pay 10 31202 1 7121 10 3120217121 592 21,400.00
Eng & Ops Substations Regular Pay 10 31203 1 7101 10 3120317101 592 343,500.00
Eng & Ops Substations Overtime Pay 10 31203 1 7121 10 3120317121 592 44,900.00
Eng & Ops Substations Materials - Substations 10 31203 3 8254 10 3120338254 592 50,000.00
592 Total 758,500.00
Eng & Ops Field & Asset Regular Pay 10 31303 1 7101 10 3130317101 587 491,100.00
Eng & Ops Field & Asset Overtime Pay 10 31303 1 7121 10 3130317121 587 64,200.00
Eng & Ops Substations Meters Supplies 10 31303 3 8353 10 3130338353 587 250,000.00
587 Total 805,300.00
Eng & Ops Administration Regular Pay 10 60100 1 7101 10 6010017101 580 661,275.00
Section 4 - Page 22 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Eng & Ops Administration Overtime Pay 10 60100 1 7121 10 6010017121 580 4,300.00
Eng & Ops Administration Dues & Subscriptions 10 60100 2 8201 10 6010028201 580 5,000.00
580 Total 670,575.00
Eng & Ops Administration Compliance - O/S Plant Related 10 60100 2 8221 10 6010028221 923 40,000.00
923 Total 40,000.00
Eng & Ops Administration Training & Seminars 10 60100 2 8332 10 6010028332 580 50,000.00
580 Total 50,000.00
Eng & Ops Administration Safety & Mandatory Training 10 60100 2 8333 10 6010028333 588 50,000.00
588 Total 50,000.00
Eng & Ops Administration Consulting 10 60100 2 8372 10 6010028372 580 300,000.00
580 Total 300,000.00
Eng & Ops Administration Maint Of Communication Equip 10 60100 2 8492 10 6010028492 581 25,000.00
Section 4 - Page 23 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Eng & Ops Administration Vehicle - Rental 10 60100 2 8573 10 6010028573 581 40,000.00
Eng & Ops Line Section Vehicle Maintenance 10 60100 2 8574 10 6010028574 581 75,000.00
581 Total 140,000.00
Eng & Ops Administration Repairs - Equipment 10 60100 2 8591 10 6010028591 582 -
582 Total -
Eng & Ops Administration Office supplies and materials 10 60100 3 8101 10 6010038101 580 6,000.00
Eng & Ops Administration Working Clothing Expense 10 60100 3 8191 10 6010038191 580 -
580 Total 6,000.00
Eng & Ops Administration Work Tools & Equip-Expense 10 60100 3 8256 10 6010038256 588 109,000.00
588 Total 109,000.00
Eng & Ops Line Section Vehicle - Fuel 10 60100 3 8572 10 6010038572 581 35,000.00
Eng & Ops Administration Inventory Adjustment 10 60100 3 8632 10 6010038632 581 5,000.00
Section 4 - Page 24 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
581 Total 40,000.00
Eng & Ops Line Section Regular Pay 10 60200 1 7101 10 6020017101 598 150,400.00
598 Total 150,400.00
Eng & Ops Line Section Regular Pay 10 60400 1 7101 10 6040017101 588 1,804,620.00
Eng & Ops Line Section Overtime Pay 10 60400 1 7121 10 6040017121 588 277,100.00
588 Total 2,081,720.00
Eng & Ops Dispatch Regular Pay 10 60401 1 7101 10 6040117101 583 202,600.00
Eng & Ops Dispatch Overtime Pay 10 60401 1 7121 10 6040117121 583 55,300.00
583 Total 257,900.00
Eng & Ops Line Section Poles - Maintenance Mat'l 10 60501 3 8253 10 6050138253 593 100,000.00
593 Total 100,000.00
Eng & Ops Field & Asset Regular Pay 10 60406 1 7101 10 6040617101 588 246,200.00
Section 4 - Page 25 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Eng & Ops Field & Asset Overtime Pay 10 60406 1 7121 10 6040617121 588 32,200.00
588 Total 278,400.00
Eng & Ops Line Section Materials - OH Maintenance 10 60501 3 8254 10 6050138254 593 100,000.00
Eng & Ops Line Section Tree Trimming Service 10 60504 2 8181 10 6050428181 593 160,000.00
593 Total 260,000.00
Eng & Ops Line Section Materials - UG Maintenance 10 60513 3 8254 10 6051338254 594 100,000.00
594 Total 100,000.00
Eng & Ops Dispatch Regular Pay 10 61200 1 7101 10 6120017101 582 1,087,100.00
Eng & Ops Dispatch Overtime Pay 10 61200 1 7121 10 6120017121 582 296,700.00
582 Total 1,383,800.00
Compliance Consulting - NERC / WECC Eng & Ops & Safety Compliance 10 62300 2 8372 10 6230028372 923 45,000.00
923 Total 45,000.00
Section 4 - Page 26 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
Compliance Eng & Ops & Safety Other Materials 10 62300 3 8254 10 6230038254 925 40,000.00
925 Total 40,000.00
Eng & Ops Administration Working Meals 10 60100 3 8192 10 6010038192 580 7,500.00
580 Total 7,500.00
GM General Management Executive Auto Allowance 10 10300 1 7114 10 1030017114 920 3,000.00
GM General Management Regular Pay 10 10300 1 7101 10 1030017101 920 345,700.00
GM General Management Overtime Pay 10 10300 1 7121 10 1030017121 920 4,800.00
GM General Management Regular Pay 10 10400 1 7101 10 1040017101 920 251,700.00
920 Total 605,200.00
GM Safety & Compliance Safety Supplies (vests, coveralls, etc) 10 10300 3 8223 10 1030038223 923 25,000.00
GM Safety & Compliance Compliance - reporting & mat'l 10 10300 3 8221 10 1030038221 923 15,000.00
GM Safety & Compliance Hazardeous Mat'l-compliance 10 10300 2 8222 10 1030028222 923 15,000.00
Section 4 - Page 27 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by FERC
Summary FERC DRAFT Budget for FY Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account 2022
GM Safety & Compliance Mandatory Training 10 10300 2 8333 10 1030028333 923 15,000.00
923 Total 70,000.00
GM General Management Training & Seminars 10 10100 2 8332 10 1010028332 921 5,000.00
GM General Management Office Supplies & Expense 10 10100 3 8101 10 1010038101 921 1,250.00
GM General Management Travel Expenses - Staff 10 10103 2 8212 10 1010328212 921 3,000.00
GM General Management Travel Expenses - Pub 10 10201 2 8211 10 1020128211 921 20,000.00
921 Total 29,250.00
GM General Management Consulting/Labor Negotiations 10 10102 2 8372 10 1010228372 923 100,000.00
923 Total 100,000.00
GM General Management Dues & Subscriptions 10 10104 2 8201 10 1010428201 930 100,000.00
930 Total 100,000.00
Grand Total 66,252,058.77
Section 4 - Page 28
Section 5
Detailed Financial Information
(by Division/Section)
This Page Left Intentionally Blank AMP – ADMINISTRATION
Division Description
Administration provides business management for the operating divisions including customer billing services, network and computer support, purchasing, inventory management, financial management and cost accounting. The primary goal of the Administration division is to provide accurate and timely information for material support, record retention, customer bill issuance, financial performance reporting, and decision-making options for the operating divisions.
EXPENDITURE SUMMARY
FY 2020 FY 2021 FY 2022 FY 2023 Actual Budget Proposed Planned Expenditure Category
Personnel Services $ 2,558,500 $ 4,175,600 $ 2,995,684 $ 3,055,600 Contractual Services 7,302,691 8,129,066 7,383,677 7,572,200 Materials & Supplies 148,108 442,000 287,700 293,500 Capital Outlay 187,176 385,000 1,030,000 300,000 (1) Reserve Funding 4,207,611 3,692,266 3,345,196 3,412,100 Debt Service (Principal & Interest) 2,552,136 2,684,505 2,718,676 2,622,136 PILOT / ROI / Transfer *** 5,533,765 5,563,980 5,652,240 5,765,300
Total $ 22,489,988 $ 25,072,417 $ 23,413,173 $ 23,020,836
(1) REC reserve funding ended December 31, 2019
Section 5 – Page 1
PERSONNEL SUMMARY Budgeted & Actual Position(s) FY 2020 FY 2021 FY 2022 FY 2023 Actual Budget Proposed Planned Administration AGM - Administration 1.0 1.0 1.0 1.0 Office Assistant 1.0 1.0 1.0 1.0 Finance and Accounting Finance & Utility Billing Manager) 1.0 1.0 1.0 1.0 Senior Utility Accountant 2.0 2.0 2.0 2.0 Utility Accountant 2.0 2.0 2.0 2.0 Meter Reader-Collector 1.0 1.0 1.0 1.0 Utility Info Systems Billing Technician 2.0 2.0 2.0 2.0 Utility Info Systems Billing Specialist 2.0 2.0 2.0 2.0 Utility Information Systems Utility IT Manager 1.0 1.0 1.0 1.0 Utility Systems Analyst 1.0 1.0 1.0 1.0 Utility IS Network Analyst 1.0 1.0 1.0 1.0 Utility Info Systems Database Analyst 1.0 1.0 1.0 1.0 Utility Info Systems GIS Administrator 1.0 1.0 1.0 1.0 AMI System Administrator 1.0 1.0 1.0 1.0 Support Services Support Services Manager 1.0 1.0 1.0 1.0 Procurement Analyst (Buyer) 1.0 1.0 1.0 1.0 Administrative Services Coordinator 1.0 1.0 1.0 1.0 Intermediate Clerk - 1.0 1.0 1.0 Storekeeper 1.0 1.0 1.0 1.0 Stock Clerk 2.0 2.0 2.0 2.0 Facilities Maintenance Worker - 1.0 1.0 1.0
Total 24.0 26.0 26.0 26.0
Section 5 – Page 2
INITIATIVES
• Ensure financial health through risk management and cost control • Meet bond covenants • Focus on controlling costs • Ensure AMP’s average rates are competitive • Provide proactive management of inventory levels • Add value to community through continued support of the City’s General Fund • Provide technology solutions to improve personnel efficiencies • Maintain sufficient level of cybersecurity • Maintain Credit Rating • Establish Long-range financial forecasts • Develop business model reflecting future needs • Integration of payroll with City’s ERP system • Contract management
Section 5 – Page 3
Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Admin Administration Office Supplies & Expense 10 20100 3 8101 10 2010038101 921 2,500.00
Admin Administration Training & Seminars 10 20100 2 8332 10 2010028332 921 7,000.00
Admin Administration Consulting 10 20100 2 8372 10 2010028372 923 100,000.00
Admin Administration Legal Services-Outside Counsel 10 20100 2 8371 10 2010028371 923 175,000.00
Admin Administration Regular Pay 10 20100 1 7101 10 2010017101 920 280,300.00
Admin City Pilot / Roi 10 9181 0 10 9181 408 1,560,000.00
Admin City Transfer To City Of Alameda 10 9201 0 10 9201 437 4,164,456.00
Admin Debts 2010B Taxable Rev Bond 10 4108 0 10 4108 224 1,600,000.00
Admin Debts Debt Interest Payments 10 9161 0 10 9161 427 1,056,676.00
Admin Debts Amortization Of Debt Issuance 10 9163 0 10 9163 428 62,000.00
Admin Finance & Accounting Advertising & Misc. Expense 10 23100 2 8103 10 2310028103 921 2,500.00
Admin Finance & Accounting Training & Seminars 10 23100 2 8332 10 2310028332 921 25,000.00
Admin Finance & Accounting Consulting Services 10 23100 2 8372 10 2310028372 921 10,000.00
Admin Finance & Accounting Trustee & Other Debt Costs 10 23100 2 8391 10 2310028391 923 10,000.00
Section 5 - Page 4 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Admin Finance & Accounting Regular Pay 10 23400 1 7101 10 2340017101 906 360,400.00
Admin Finance & Accounting Overtime Pay 10 23400 1 7121 10 2340017121 906 24,000.00
Admin Finance & Accounting City O/H Cost Alloc.-Info Tech 10 23200 2 8401 10 2320028401 923 89,834.77
Admin Finance & Accounting City O/H Cost Alloc-Acct Srvs 10 23200 2 8402 10 2320028402 923 45,672.26
Admin Finance & Accounting City O/H Cost Allocation - H/R 10 23200 2 8403 10 2320028403 923 296,964.12
Admin Finance & Accounting City O/H Cost Alloc-Bldg Serv 10 23200 2 8404 10 2320028404 923 986.74
Admin Finance & Accounting Cty O/H Cst Alloc-Cty Mgr/Cncl 10 23200 2 8405 10 2320028405 923 122,619.44
Admin Finance & Accounting City O/H Cost Alloc-Legal 10 23200 2 8406 10 2320028406 923 262,170.02
Admin Finance & Accounting Property Insurance 10 23500 2 8601 10 2350028601 924 263,316.86
Admin Finance & Accounting City O/H Cost Alloc-Risk Mgmt 10 23200 2 8407 10 2320028407 925 2,163.00
Admin Finance & Accounting O/H Cost Alloc - Workers Cmp 10 23200 2 8409 10 2320028409 925 37,391.00
Admin Finance & Accounting Liability Insurance 10 23500 2 8602 10 2350028602 925 244,081.00
Admin Finance & Accounting O/H Cost Alloc - Unemployment 10 23200 2 8408 10 2320028408 926 -
Admin Finance & Accounting City O/H Cost Alloc-Operating 10 23200 2 8411 10 2320028411 926 -
Section 5 - Page 5 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Admin Finance & Accounting Regular Pay 10 23300 1 7101 10 2330017101 920 571,900.00
Admin Finance & Accounting Overtime Pay 10 23300 1 7121 10 2330017121 920 11,400.00
Admin Finance & Accounting Annual Report 10 23300 2 8153 10 2330028153 921 10,000.00
Admin Finance & Accounting Office Supplies & Expense 10 23300 3 8101 10 2330038101 921 7,500.00
Admin Finance & Accounting Outside Auditor Fees 10 23300 2 8373 10 2330028373 923 65,000.00
Admin Finance & Accounting Benefit - Labor Overhead 10 23700 2 8612 10 2370028612 922 (1,250,000.00)
Admin Finance & Accounting Worker'S Compensation 10 23600 2 8622 10 2360028622 925 208,625.00
Admin Finance & Accounting Health Insurance 10 23600 2 7201 10 2360027208 926 2,142,864.00
Admin Finance & Accounting Dental/Vision insurance 10 23600 2 7231 10 2360027231 926 151,027.00
Admin Finance & Accounting PERS City Portion - Misc 10 23600 2 7242 10 2360027242 926 1,934,103.61
Admin Finance & Accounting Medicare Fringe 10 23600 2 7248 10 2360027248 926 165,025.95
Admin Finance & Accounting Life Insurance 10 23600 2 7262 10 2360027265 926 18,658.00
Admin Finance & Accounting Unemployment Insurance 10 23600 2 7281 10 2360027281 926 64,310.00
Admin Finance & Accounting Regular Pay 10 24100 1 7101 10 2410017101 902 67,700.00
Section 5 - Page 6 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Admin Finance & Accounting Working Clothing Expense 10 24100 3 8191 10 2410038191 902 200.00
Information Admin Systems Office Supplies & Expense 10 21100 3 8101 10 2110038101 906 11,500.00
Information Admin Systems Elec Bills-Print/Mail Service 10 21100 2 8271 10 2110028271 906 310,000.00
Information Admin Systems PC Software Service 10 21100 2 8502 10 2110028502 906 269,295.00
Information Admin Systems Hardware Maintenance 10 21100 2 8521 10 2110028521 906 94,600.00
Information Admin Systems Software Maintenance 10 21100 2 8526 10 2110028526 906 298,800.00
Information Admin Systems ITRON Meter Reading Sys Maint. 10 21100 2 8527 10 2110028527 906 6,000.00
Information Admin Systems Internet Services 10 21100 2 8529 10 2110028529 906 46,050.00
Information Admin Systems PC Software Purchases 10 21100 3 8502 10 2110038502 906 32,600.00
Information Admin Systems Software Maintenance 10 21100 3 8526 10 2110038526 906 45,000.00
Information City Provided PC/Network Admin Systems Maintenance 10 21100 2 8522 10 2110028522 906 10,000.00
Information Admin Systems Training & Seminars 10 21100 2 8332 10 2110028332 921 32,150.00
Information Admin Systems Contract Consulting Services 10 21100 2 8375 10 2110028375 923 200,000.00
Information Alameda Point Tele-M&R Admin Systems Subcontracts 10 21100 2 6701 10 2110026701 417 10,000.00
Section 5 - Page 7 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Information Admin Systems Alameda Point Tele-Switch/Equip 10 21100 2 6702 10 2110026702 417 5,000.00
Information Admin Systems MAN Maintenance - Services 10 21100 2 8523 10 2150028523 906 10,000.00
Information Admin Systems MAN Maintenance - Material 10 21100 3 8523 10 2150038523 906 6,000.00
Information Admin Systems PC & Network Maintenance 10 21300 2 8524 10 2130028524 906 78,700.00
Information Admin Systems PC & Network Maint.material 10 21300 3 8524 10 2130038524 906 140,800.00
Information Admin Systems Regular Pay 10 21100 1 7101 10 2110017101 906 866,984.00
Admin Support Services Substation Electricity & Water 10 22100 2 8442 10 2210028442 582 43,502.00
Admin Support Services Training & Seminars 10 22100 2 8332 10 2210028332 921 8,000.00
Information Admin Systems Util/Local,Long Dist Carrier 10 21100 2 8421 10 2110028421 921 60,000.00
Admin Support Services Advertising & Misc. Expense 10 22100 2 8103 10 2210028103 921 2,000.00
Admin Support Services PILOT Wire fee by AT&T fr PG&E 10 22100 2 8425 10 2210028425 921 5,677.00
Admin Support Services Util./ Gas,Electric,Water,Garb 10 22100 2 8446 10 2210028446 921 120,014.00
Information Admin Systems Copier Leases 10 21100 2 8541 10 2110028541 921 35,000.00
Admin Support Services Office Supplies & Expense 10 22100 3 8101 10 2210038101 921 2,000.00
Section 5 - Page 8 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Admin Support Services Postage & Supplies 10 22101 3 8312 10 2210138312 921 24,000.00
Admin Support Services Records storage & disposal 10 22102 2 8104 10 2210228104 921 5,600.00
Admin Support Services Regular Pay 10 22200 1 7101 10 2220017101 935 96,100.00
Admin Support Services Cleaning & Maintenance 10 22200 2 8176 10 2220028176 935 126,976.00
Admin Support Services Material,Supply,Sm tool &Equip 10 22200 3 8173 10 2220038173 935 20,000.00
Admin Support Services Working Clothing Expense 10 22200 3 8191 10 2220038191 935 2,600.00
Admin Support Services City Sewer Charge 10 22100 2 8448 10 2210028448 921 3,500.00
Admin Support Services Warehouse & parking Rents 10 22200 2 8432 10 2220028432 931 327,000.00
Admin Support Services Regular Pay 10 22400 1 7101 10 2240017101 920 110,900.00
Admin Support Services Regular Pay 10 22100 1 7101 10 2210017101 920 305,500.00
Admin Support Services Regular Pay 10 22300 1 7101 10 2230017101 935 284,200.00
Admin Support Services Overtime Pay 10 22300 1 7121 10 2230017121 935 16,300.00
Admin Support Services Shipping 10 22300 2 8313 10 2230028313 935 2,500.00
Section 5 - Page 9 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
LCFS Reserve Admin Expense Elec. - EV Charger station 10 56000 2 8589 10 5600028589 910 50,000.00
LCFS Reserve Admin Expense Maint.&Repairs - EV C. Station 10 56000 2 8590 10 5600028590 910 7,500.00
Admin Support Services Stores Clearing - Freight 10 22300 3 8634 10 2230038634 935 4,500.00
Admin Total 19,110,192.77
Section 5 - Page10 THIS PAGET
AMP – CUSTOMER RESOURCES
Division Description
The Customer Resources division comprises Customer Service, Communications/Public Relations, Accounts Management, and Customer Programs/Energy Efficiency. The main objectives of the division are to provide responsive, quality customer service; to develop and implement payment and financial assistance programs; to develop, implement and manage energy efficiency, electric vehicles, building decarbonization, and voluntary green customer programs and advise on best practices; and communicate and market these programs to residential and commercial customers. The division focuses on customer advocacy, satisfaction, and engagement to promote a positive experience for customers through the implementation of programs and services that are informational, convenient, engaging, and save customers energy, time and money.
The Customer Resource division participates in community events and develops relationships with key interest groups and community and business associations, promotes employee goodwill and communication, supports other divisions and/or departments in customer-related issues and projects, and prepares, coordinates, and develops associated marketing, media relations, collateral, and systems to inform, educate, and promote AMP and its programs and services to the community.
EXPENDITURE SUMMARY
FY 2020 FY 2021 FY 2022 FY 2023 Actual Proposed Proposed Planned Expenditure Category
(1) Personnel Services $ 1,456,029 $ 1,693,100 $ 1,658,700 $ 1,691,900 (1) Contractual Services 1,069,450 1,684,500 1,808,800 1,845,000 Materials & Supplies 708,293 1,347,200 892,500 910,400 Capital Projects (Doolittle & Community Solar) - 1,955,800 915,000 -
Total $ 3,233,773 $ 6,680,600 $ 5,275,000 $ 4,447,300 (1) FY2022 - personnel for Public Relations & Marketing and their associated costs moved from GM to CRD
Section 5 – Page 11 PERSONNEL SUMMARY Position(s) FY 2020 FY 2021 FY 2022 FY 2023 Actual Proposed Proposed Planned Customer Resource AGM – Customer Resources 1.0 1.0 1.0 1.0 Senior Account Manager 1.0 1.0 1.0 1.0 Account Manager 1.0 1.0 1.0 1.0 Administrative Services Coordinator 1.0 1.0 1.0 1.0 Customer Service - Customer Service Supervisor 1.0 1.0 1.0 1.0 Customer Service Representative 6.0 6.0 6.0 6.0 Communication/Public Relations - Senior Communications Specialist 1.0 1.0 1.0 1.0 Media Coordinator - 1.0 1.0 1.0 Energy Efficiency - Utility Energy Analyst 1.0 2.0 2.0 2.0
Total 13.0 15.0 15.0 15.0
INITIATIVES
• Provide billing, payment and financial assistance • Develop, implement and manage rebate and incentive programs for energy efficiency, electric vehicles, building decarbonization, and renewable energy • Promote organizational service excellence • Provide quality and responsive customer service • Enhance customer satisfaction, both internal and external • Address areas needing improvement as identified by staff, residential/commercial survey results and customer expectations • Provide timely and effective internal and external communications • Foster community, association, and key stakeholder relationships • Participate in community events and conduct employee events • Meet or exceed energy efficiency target goals • Comply with Public Benefits regulatory requirements • Launch commercial & key account customer satisfaction survey • Meet or exceed AB 2021 energy efficiency target of 1251 MWh
Section 5 – Page 12 WORKPLAN HIGHLIGHTS
CUSTOMER SERVICE UNIT: • Promote participation in Alameda County’s utility Covid relief program (ERAP/SB91), Alameda Green (AMP’s voluntary green program), EAP Plus and other financial assistance, and customer programs • Develop and implement residential customer satisfaction survey • Promote online bill pay and energy management web portal • Evaluate and enhance existing business processes
ACCOUNT MANAGEMENT UNIT: • Develop and implement account plans for key accounts and their unique needs • Provide account management services for all commercial customers • Support Covid affected businesses with programs and bill payment strategies • Enhance outreach and communication to commercial accounts through customer segmentation • Participate in community events to promote AMP and its programs and services • Promote education in new technology (e.g., electric vehicles, charging stations, building decarbonization, battery storage) • Market a safety outreach program for use by schools and community groups • Provide outreach and customer communication support for Operations
COMMUNICATION / PUBLIC RELATIONS UNIT: • Host series of public workshops on electric vehicles, solar, building decarbonization and energy efficiency • Conduct ride& drive event for electric vehicles • Create and manage all external communications via social media, print media, advertising, bill inserts and customer newsletters • Develop annual employee volunteer event • Create and distribute bimonthly employee newsletter • Provide bi-weekly communications to PUB
CUSTOMER PROGRAMS / ENERGY EFFICIENCY UNIT: • Increase residential and commercial customer awareness of AMP energy efficiency programs • Develop and launch new programs to promote and incentivize electric vehicles, building decarbonization, and energy efficiency • Meet or Exceed AB 2021 target savings • Research/implement new technology & programs • Develop and implement community solar program • Administer solar program with annual true-ups • Continue to partner with various key customers/stakeholders in energy efficiency, electric vehicles, and building decarbonization efforts (Developers, City, other customers & agencies) • Participate in community events and workshops
Section 5 – Page 13 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Customer Resources Communications Dues & Subscriptions 10 11100 2 8201 10 1110028201 930 2,000.00
Customer Resources Communications Travel Expenses - Staff 10 11100 2 8212 10 1110028212 921 1,500.00
Customer Resources Communications Training & Seminars 10 11100 2 8332 10 1110028332 912 1,500.00
Customer Resources Communications Public Outreach & Meetings 10 11200 2 8552 10 1120028552 909 2,500.00
Customer Resources Communications Advertising 10 11300 2 8141 10 1130028141 913 40,000.00
Customer Resources Communications Advertising - Digital Outreach 10 11400 2 8141 10 1140028141 913 40,000.00
Customer Resources Communications External Newsletter 10 11400 2 8151 10 1140028151 909 12,000.00
Customer Resources Communications Regular Pay 10 41300 1 7101 10 4130017101 913 132,000.00
Customer Resources Communications Temportary Staffing & Interns 10 41300 2 8376 10 4130028376 905 50,000.00
Customer Resources Communications Employee Recognition Events 10 11500 2 7283 10 1150027283 930 1,500.00
Customer Employee Recognition Events- Resources Communications materials 10 11500 3 7283 10 1150037283 930 2,500.00
Customer Resources Customer Programs Travel Expenses - Staff 10 40100 2 8212 10 4010028212 912 3,000.00
Customer Resources Customer Programs Training & Seminars 10 40100 2 8332 10 4010028332 912 4,000.00
Customer Resources Customer Programs Regular Pay 10 40200 1 7101 10 4020017101 912 353,800.00
Section 5 - Page 14 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Customer Resources Customer Programs Sponsorship 10 40200 2 8142 10 4020028142 912 35,000.00
Customer Resources Customer Programs Promotions 10 40200 2 8144 10 4002028144 912 70,000.00
Customer Resources Customer Programs Web Site Support 10 40200 2 8147 10 4020028147 912 50,000.00
Customer Resources Customer Programs Dues & Subscriptions 10 40200 2 8201 10 4020028201 930 12,000.00
Customer Resources Customer Programs Other Materials 10 40200 3 8254 10 4020038254 912 5,000.00
Customer Resources Customer Programs Market Research & Surveys 10 40206 2 8145 10 4020628145 912 32,000.00
Customer Resources Customer Service Travel Expenses - Staff 10 41100 2 8212 10 4110028212 903 6,000.00
Customer Resources Customer Service Training & Seminars 10 41100 2 8332 10 4110028332 903 6,500.00
Customer Resources Customer Service Office Supplies & Expense 10 41100 3 8101 10 4110038101 903 5,000.00
Customer Resources Customer Service Regular Pay 10 41200 1 7101 10 4120017101 903 484,800.00
Customer Resources Customer Service Overtime Pay 10 41200 1 7121 10 4120017121 903 28,800.00
Customer Resources Customer Service Uncollectible Accounts/Claims 10 41200 2 8131 10 4120028131 904 5,000.00
Customer Resources Customer Service Collection Agency 10 41200 2 8132 10 4120028132 904 20,000.00
Customer Resources Customer Service Lockbox 10 41200 2 8161 10 4120028161 903 50,000.00
Section 5 - Page 15 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Customer Resources Customer Service Credit Card Processing 10 41200 2 8162 10 4120028162 903 260,000.00
Customer Resources Customer Service Online Payment Services 10 41200 2 8163 10 4120028163 903 5,000.00
Customer Resources Customer Service Pay Station Fees 10 41200 2 8164 10 4120028164 903 1,800.00
Customer Resources Customer Service Elec Bills-Print/Mail Service 10 41200 2 8271 10 4120028271 903 6,000.00
Customer Resources Customer Programs Regular Pay 10 41300 1 7101 10 4130017101 901 395,300.00
Customer Resources Customer Programs RFP/Advertising/Misc Expense 10 41300 2 8103 10 4130028103 903 2,500.00
Customer Resources Energy Efficency Regular Pay 10 52100 1 7101 10 5210017101 908 264,000.00
Customer Resources Energy Efficency Dues & Subscriptions 10 52100 2 8201 10 5210028201 930 2,000.00
Customer Resources Energy Efficency Travel Expenses - Staff 10 52100 2 8212 10 5210028212 908 2,500.00
Customer Resources Energy Efficency Training & Seminars 10 52100 2 8332 10 5210028332 908 2,500.00
Customer Resources Energy Efficency Program Exp -Residential 10 52201 2 8467 10 5220128467 908 2,500.00
Customer Resources Energy Efficency Program Exp -Commercial 10 52301 2 8467 10 5230128467 908 2,500.00
Customer Resources Energy Efficency Rebates- Comm. Self Install 10 52302 3 8581 10 5230238581 908 150,000.00
Customer Resources Energy Efficency Rebates - Comm. Construction 10 52304 3 8581 10 5230438581 908 -
Section 5 - Page 16 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Customer Resources Customer Programs Project Ease 10 53000 2 8463 10 5300028463 908 20,000.00
Customer Resources Customer Programs Customer Bill Assistance 10 53000 2 8464 10 5300028464 908 130,000.00
Customer Resources Energy Efficency Measurement & Verification 10 55000 2 8468 10 5500028468 910 80,000.00
Customer Resources Energy Efficency EE Energy Audits 10 55501 2 8471 10 5550128471 910 70,000.00
Customer REC Reserve Resources Expense Rebates - New Construction 10 55500 2 8480 10 5550028480 910 150,000.00
Customer REC Reserve Resources Expense Residential Rebate Platform 10 55501 3 8472 10 5550138472 910 100,000.00
Customer REC Reserve Resources Expense Low Income Direct Install 10 55501 3 8583 10 5550138583 910 300,000.00
Customer REC Reserve Resources Expense Non-Res. Direct Install 10 55502 3 8477 10 5550238477 910 330,000.00
Customer REC Reserve Resources Expense Building Electrification Outreach 10 55502 2 8479 10 5550028479 910 60,000.00
Customer REC Reserve Resources Expense Building Electrification Residential 10 55502 2 8582 10 5550128582 910 75,000.00
Customer REC Reserve Resources Expense Community Solar Pgm Exp 10 55504 2 8467 10 5550428467 910 -
Customer LCFS Reserve Resources Expense LCFS-Labor AMP 10 56000 1 8582 10 5600018582 910 -
Customer REC Reserve Building Electrification - Resources Expense Commercial 10 55502 2 8583 10 5550128583 910 52,000.00
Customer LCFS Reserve Resources Expense EV Public Outreach 10 56000 2 8467 10 5600028467 910 40,000.00
Section 5 - Page 17 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Customer LCFS Reserve Resources Expense EV Rebates - Residential 10 56000 2 8582 10 5600028582 910 200,000.00
Customer LCFS Reserve EV Charger Rebate - Non- Resources Expense Residential 10 56000 2 8582 10 5600028581 910 200,000.00
Customer Resources Total 4,360,000.00
Section 5 - Page 18 AMP – ENERGY RESOURCES
Division Description
Support the mission and goals of Alameda Municipal Power by: • Forecasting Alameda’s electric loads, customer sales/revenues, power costs, overall financial position, and the need for power supply resources, • Managing the purchase/sale of Cap & Trade (C&T) allowances, Low Carbon Fuel Standard (LCFS) credits, Resource Adequacy (RA) and Renewable Energy Credits (RECs), • Analyzing and recommending sources of power that are low-cost, reliable and that meet the State’s Renewable Portfolio Standard (RPS) goals, • Managing and overseeing the operation and delivery of power from existing resources, • Recommending and implementing effective and equitable retail electricity rates, • Creating effective policies for interconnection of rooftop solar and storage • Designing rates that align with AMP’s actual costs to serve different types of customers • Designing rates that promote electric vehicles • Participating in regulatory and legislative arenas to advocate for local accountability, lower California Independent System Operator (CAISO) transmission costs and improve transmission system reliability, • Complying with local, state and federal laws and regulations
EXPENDITURE SUMMARY
FY 2020 FY 2021 FY 2022 FY 2023 Actual Budget Proposed Planned Expenditure Category
Personnel Services $ 147,514 $ 694,200 $ 705,300 $ 712,500 Contractual Services 56,236 142,500 59,500 $ 60,100 Materials & Supplies 2,063 6,000 3,000 $ 3,000 Purchased Power - REC/C&T funded (2,629,032) (3,543,600) $ (1,520,000) Purchased Power 32,246,283 35,789,485 36,077,461 36,449,100
Total $ 32,452,096 $ 34,003,153 $ 33,301,661 $ 35,704,700
Section 5 - Page
19 PERSONNEL SUMMARY
Position(s) FY 2020 FY 2021 FY 2022 FY 2023 Actual Budget Proposed Planned Administration AGM – Energy Resource Planning 1 1 1 1 Senior Energy Resource Analyst 1 1 1 1 Energy Resource Analyst 3 3 4 3
Total 5 5 6 5
INITIATIVES
Strategy and Planning
• Update Integrated Resource Plan (IRP) • Evaluate local/NCPA solar options • Develop new tariffs as needed • Evaluate contract extension for western resource
Compliance and Regulatory
• Maintain RPS compliance documentation • Maintain Air Resources Board emissions filings and documentation • Follow/provide comments on key legislative and regulatory changes
Forecasting and Analysis
• Develop long term financial forecast • Develop FY 2021 rates • Analyze resource portfolio and identify opportunities for optimization • Review future rate options (finalize EV-TOU, demand charges, etc.) • Evaluate NCPA facility enhancements with other NCPA members
Business as Usual
• Complete all forecasts and analysis accurately and on time • Manage risks through appropriate financial guidelines and power purchase strategies • Monitor costs and expenses to meet budgets • Ensure AMP’s rate strategy reflects AMP’s cost to provide service and continues to deliver value to customers at a significant savings compared with PG&E • Participate in the appropriate legislative and regulatory venues to raise AMP issues as they arise • Maintain RPS compliance documentation • Maintain Air Resources Board emissions filings and documentation • Participate in and monitor the activities of Northern California Power Agency (NCPA), Transmission Agency of Northern California (TANC) and Western • Manage AMP’s renewable power resources to meet AMP’s RPS and GHG goals and to comply with C&T and RPS Regulations • Ensure ERP staff have sufficient and timely training and tools to meet identified work goals
Section 5 - Page 20 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Energy Resource Planning Energy Resources Travel Expenses - Staff 10 50100 2 8212 10 5010028212 921 7,500.00
Energy Resource Planning Energy Resources Training & Seminars 10 50100 2 8332 10 5010028332 921 15,000.00
Energy Resource Planning Energy Resources Office Supplies & Expense 10 50100 3 8101 10 5010038101 921 2,000.00
Energy Resource Planning Energy Resources Dues & Subscriptions 10 50100 3 8201 10 5010038201 930 1,000.00
Energy Resource Planning Energy Resources Regular Pay 10 50206 1 7101 10 5020617101 920 705,300.00
Energy Resource Planning Energy Resources Temporary Staffing Agency 10 50206 2 8376 10 5020628376 923 10,000.00
Energy Resource Planning Energy Resources Consulting 10 50207 2 8372 10 5020728372 923 25,000.00
Energy Resource Planning Power Bills CT2 Fixed Costs 10 6102 0 10 6102 555 450,758.00
Energy Resource Planning Power Bills Hydro Fixed Costs 10 6103 0 10 6103 555 2,068,620.00
Energy Resource Planning Power Bills GEO1 Fixed Costs 10 6105 0 10 6105 555 5,636,414.00
Energy Resource Planning Power Bills CT1 Fixed Costs 10 6106 0 10 6106 555 1,318,125.00
Energy Resource Planning Power Bills Debt Service - All Plants 10 6107 0 10 6107 555 5,271,939.00
Energy Resource Planning Power Bills Local Capacity Sales 10 6108 0 10 6108 555 (2,263,922.00)
Energy Resource Planning Power Bills NCPA CT#2 (STIG) - Revenue 10 6112 0 10 6112 555 (611,832.00)
Section 5 - Page 21 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Energy Resource Planning Power Bills NCPA Calaveras - Revenue 10 6113 0 10 6113 555 (2,273,275.00)
Energy Resource Planning Power Bills NCPA - Geothermal Revenue 10 6115 0 10 6115 555 (4,883,691.00)
Energy Resource Planning Power Bills NCPA Ct #1 Revenue 10 6116 0 10 6116 555 (283,566.00)
Energy Resource Planning Power Bills Doolittle power purchases 10 6117 0 10 6117 555 161,505.00
Energy Resource Planning Power Bills NCPA Grayeagle - Energy Charge 10 6122 0 10 6122 555 -
Energy Resource Planning Power Bills CT2 Variable Costs 10 6123 0 10 6123 555 296,387.00
Energy Resource Planning Power Bills Calaveras Variable Costs 10 6124 0 10 6124 555 328,394.00
Energy Resource Planning Power Bills WAPA CVP Restoration/Energy 10 6125 0 10 6125 555 1,744,337.00
Energy Resource Planning Power Bills GEO1 Variable Costs 10 6126 0 10 6126 555 456,429.00
Energy Resource Planning Power Bills CT1 Variable Costs 10 6127 0 10 6127 555 196,994.00
Energy Resource Planning Power Bills Market Purchases 10 6129 0 10 6129 555 -
Energy Resource Planning Power Bills NCPA S/T Energy Mrkt Sale 10 6130 0 10 6130 555 -
Energy Resource Planning Power Bills Western Revenue 10 6133 0 10 6133 556 (1,892,524.00)
Energy Resource Planning Power Bills Other Revenue Adjustments 10 6134 0 10 6134 555 (172,211.00)
Section 5 - Page 22 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Energy Resource Planning Power Bills C&T Renewable Purchases 10 6142 0 10 6142 555 (3,000,000.00)
Energy Resource REC Reserve Planning Expense ERG Metering Purchases 10 6136 0 10 6136 555 -
Energy Resource Planning Power Bills NCPA Refund - Prior Yr True Up 10 6139 0 10 6139 555 (700,000.00)
Energy Resource Planning Power Bills Member Contract Costs 10 6143 0 10 6143 555 10,838,464.00
Energy Resource Planning Power Bills Member Contract Revenues 10 6144 0 10 6144 555 (6,160,185.00)
Energy Resource Planning Power Bills Landfill Santa Cruz/Energy Chg 10 6145 0 10 6145 555 -
Energy Resource Planning Power Bills Landfill - Keller 10 6146 0 10 6146 555 -
Energy Resource Planning Power Bills Landfill - Halfmoon Bay 10 6147 0 10 6147 555 -
Energy Resource Planning Power Bills Landfill - Butte County 10 6148 0 10 6148 555 -
Energy Resource Planning Power Bills NCPA Power Management/SCALD 10 6161 0 10 6161 556 1,194,219.00
Energy Resource Planning Power Bills NCPA Interconnection Services 10 6162 0 10 6162 556 -
Energy Resource Planning Power Bills JPA Assessment 10 6163 0 10 6163 556 57,456.00
Energy Resource Planning Power Bills NCPA MPP Purchases and Fees 10 6164 0 10 6164 556 64,868.00
Energy Resource Planning Power Bills NCPA LEG® 10 6166 0 10 6166 556 190,321.00
Section 5 - Page 23 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
Energy Resource Planning Power Bills ISO Load Costs 10 6167 0 10 6167 565 14,962,750.00
Energy Resource REC Reserve REC-SVP & Doolittle Renewable Planning Expense Purchase 10 6169 0 10 6169 565 (543,600.00)
Energy Resource Planning Power Bills Wildfire Insurance 10 6170 0 10 6170 555 -
Energy Resource Planning Power Bills Transmission - Ncpa Plants 10 6171 0 10 6171 565 -
Energy Resource Planning Power Bills NCPA SOT 10 6172 0 10 6172 565 -
Energy Resource Planning Power Bills ISO Transmission 10 6175 0 10 6175 565 10,285,022.00
Energy Resource Planning Power Bills Ancillary Service Revenues 10 6176 0 10 6176 565 (224,123.00)
Energy Resource Planning Power Bills GHG Allowance Purchase 10 6255 0 10 6255 555 19,788.00
Energy Resource REC Reserve Planning Expense REC Wregis FEE 10 55500 2 8382 10 5550028382 910 2,000.00
Energy Resource Planning Total 33,301,661.00
Section 5 - Page 24 AMP – ENGINEERING & OPERATIONS
Division Description
The Engineering & Operations Division combines five work sections: Engineering, Line, Substations & Metering, System Control, and Compliance & Safety. Safety is functionally integrated in this division and organizationally reports to the General Manager. All work sections are aligned and responsible for the safe and reliable construction, maintenance, and operation of the electric system. Engineering plans, designs, and is responsible for technical aspects of the transmission and distribution system. This section maintains system maps and detailed drawings, performs service planning and system design, creates material and construction specifications, administers the joint pole program, performs system studies, and coordinates project activities. The Line section is responsible for the safe construction, maintenance, and inspection of transmission and distribution assets, as well as first responder services during system abnormalities. The Substations & Metering section is responsible for construction and maintenance of substations, relays, and other equipment as well as commercial and residential metering. System Control monitors all transmission and distribution systems activities, coordinates switching within and outside of AMP’s service area, and dispatches field crews. Compliance & Safety monitors and ensures compliance with local, state, and federal requirements, and administers AMP’s safety and emergency management programs.
EXPENDITURE SUMMARY
FY 2020 FY 2021 FY 2022 FY 2023 Actual Budget Proposed Planned Expenditure Category
Personnel Services $ 4,160,750 $ 6,070,400 $ 6,843,255 $ 7,048,600 Contractual Services 386,426 697,540 930,000 948,600 Materials & Supplies 499,997 524,275 802,500 818,600 Capital Outlay 2,561,649 4,785,007 2,937,162 5,800,000 Outside Billing 1,789,197 1,053,000 1,100,000 750,000
Total $ 9,398,019 $ 13,130,222 $ 12,612,917 $ 15,365,800
Section 5 – Page 2
5 PERSONNEL SUMMARY
Position(s) FY 2020 FY 2021 FY 2022 FY 2022 Actual Budget Proposed Planned Administration AGM – Engineering & Operations 1 1 1 1 Utility analyst 1 1 1 1 Line Operations Line Superintendent 1 1 1 1 Line Working Supervisor 2 2 2 2 Journey Lineworker 7 10 10 10 Utility Const Compl Specialist 2 2 2 2 Service Lineworker 1 2 2 2 Electrical Maintenance (Field Svcs) Electrical Eq. Superintendent - 1 1 1 Senior Clerk 1 1 1 1 Substation & Metering Supervisor 1 1 1 1 Elect Maint Technician 2 4 5 5 Meter Service Technician 1 1 1 1 Engineering Engineering Manager 1 1 1 1 Utility Project Manager 1 2 1 1 Senior Electrical Engineer 1 1 2 2 Electrical Engineer 2 1 2 2 Distribution Engineer - 1 - - Electric Distribution Tech - 1 1 1 Electrical Engineering Aide 2 2 2 2 Engineering Office Assistant 1 1 1 1 Dispatch & System Operations Chief System Operator 1 1 1 1 System Operator 4 4 4 4 Compliance Compliance Superintendent 1 1 - - Total 34 43 43 43
Section 5 – Page 26 INITIATIVES
• Underground Utility District (UUD) • Implement asset management • 115kV air switch replacement and upgrade • 115kV breaker replacement • Line Current Differential, Jenny – Station J • Rotating system detailed and visual inspection • Tree trimming • Compliance with NERC and other standards • Replace aging distribution poles • Efficiently complete developer driven projects o Alameda Marina – Housing o Rosefield – Housing o Harbor Bay & South Loop buildings o Del Monte Warehouse - Housing o Alameda Landing – Pulte Homes
Section 5 – Page 2
7 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account DRAFT Budget for FY 2022
Eng & Ops Engineering Regular Pay 10 30100 1 7101 10 3010017101 580 559,635.00
Eng & Ops Engineering Regular Pay 10 30200 1 7101 10 3020017101 588 337,025.00
Eng & Ops Engineering Reproduction/Drafting Paper 10 30300 2 8186 10 3030028186 588 5,000.00
Eng & Ops Substations Education Incentives 10 31100 1 7117 10 3110017117 592 -
Eng & Ops Substations Freight Charges - Ops 10 31200 2 8634 10 3120028634 592 -
Eng & Ops Substations Equipment Maintenance 10 31201 2 8491 10 3120128491 592 135,000.00
Eng & Ops Substations Regular Pay 10 31202 1 7101 10 3120217101 592 163,700.00
Eng & Ops Substations Overtime Pay 10 31202 1 7121 10 3120217121 592 21,400.00
Eng & Ops Substations Regular Pay 10 31203 1 7101 10 3120317101 592 343,500.00
Eng & Ops Substations Overtime Pay 10 31203 1 7121 10 3120317121 592 44,900.00
Eng & Ops Substations Materials - Substations 10 31203 3 8254 10 3120338254 592 50,000.00
Eng & Ops Field & Asset Regular Pay 10 31303 1 7101 10 3130317101 587 491,100.00
Eng & Ops Field & Asset Overtime Pay 10 31303 1 7121 10 3130317121 587 64,200.00
Eng & Ops Substations Meters Supplies 10 31303 3 8353 10 3130338353 587 250,000.00
Section 5 - Page 28 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account DRAFT Budget for FY 2022
Eng & Ops Administration Regular Pay 10 60100 1 7101 10 6010017101 580 661,275.00
Eng & Ops Administration Overtime Pay 10 60100 1 7121 10 6010017121 580 4,300.00
Eng & Ops Administration Dues & Subscriptions 10 60100 2 8201 10 6010028201 580 5,000.00
Eng & Ops Administration Compliance - O/S Plant Related 10 60100 2 8221 10 6010028221 923 40,000.00
Eng & Ops Administration Training & Seminars 10 60100 2 8332 10 6010028332 580 50,000.00
Eng & Ops Administration Safety & Mandatory Training 10 60100 2 8333 10 6010028333 588 50,000.00
Eng & Ops Administration Consulting 10 60100 2 8372 10 6010028372 580 300,000.00
Eng & Ops Administration Maint Of Communication Equip 10 60100 2 8492 10 6010028492 581 25,000.00
Eng & Ops Administration Vehicle - Rental 10 60100 2 8573 10 6010028573 581 40,000.00
Eng & Ops Line Section Vehicle Maintenance 10 60100 2 8574 10 6010028574 581 75,000.00
Eng & Ops Administration Repairs - Equipment 10 60100 2 8591 10 6010028591 582 -
Eng & Ops Administration Office supplies and materials 10 60100 3 8101 10 6010038101 580 6,000.00
Eng & Ops Administration Working Clothing Expense 10 60100 3 8191 10 6010038191 580 -
Eng & Ops Administration Work Tools & Equip-Expense 10 60100 3 8256 10 6010038256 588 109,000.00
Section 5 - Page 29 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account DRAFT Budget for FY 2022
Eng & Ops Line Section Vehicle - Fuel 10 60100 3 8572 10 6010038572 581 35,000.00
Eng & Ops Administration Inventory Adjustment 10 60100 3 8632 10 6010038632 581 5,000.00
Eng & Ops Line Section Regular Pay 10 60200 1 7101 10 6020017101 598 150,400.00
Eng & Ops Line Section Regular Pay 10 60400 1 7101 10 6040017101 588 1,804,620.00
Eng & Ops Line Section Overtime Pay 10 60400 1 7121 10 6040017121 588 277,100.00
Eng & Ops Dispatch Regular Pay 10 60401 1 7101 10 6040117101 583 202,600.00
Eng & Ops Dispatch Overtime Pay 10 60401 1 7121 10 6040117121 583 55,300.00
Eng & Ops Line Section Poles - Maintenance Mat'l 10 60501 3 8253 10 6050138253 593 100,000.00
Eng & Ops Field & Asset Regular Pay 10 60406 1 7101 10 6040617101 588 246,200.00
Eng & Ops Field & Asset Overtime Pay 10 60406 1 7121 10 6040617121 588 32,200.00
Eng & Ops Line Section Materials - OH Maintenance 10 60501 3 8254 10 6050138254 593 100,000.00
Eng & Ops Line Section Tree Trimming Service 10 60504 2 8181 10 6050428181 593 160,000.00
Eng & Ops Line Section Materials - UG Maintenance 10 60513 3 8254 10 6051338254 594 100,000.00
Eng & Ops Dispatch Regular Pay 10 61200 1 7101 10 6120017101 582 1,087,100.00
Section 5 - Page 30 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account DRAFT Budget for FY 2022
Eng & Ops Dispatch Overtime Pay 10 61200 1 7121 10 6120017121 582 296,700.00
Compliance Eng & Ops & Safety Compliance - O/S Plant Related 10 62300 2 8221 10 6230028221 923 -
Compliance Consulting - NERC / WECC Eng & Ops & Safety Compliance 10 62300 2 8372 10 6230028372 923 45,000.00
Compliance Eng & Ops & Safety Other Materials 10 62300 3 8254 10 6230038254 925 40,000.00
Eng & Ops Administration Temporary Staffing & Interns 10 60100 2 8376 10 6010028376 580 -
Eng & Ops Administration Working Meals 10 60100 3 8192 10 6010038192 580 7,500.00
Eng & Ops Total 8,575,755.00
Section 5 - Page 31 AMP – GENERAL MANAGEMENT
Division Description
General Management provides overall coordination of all operating division activities and interfaces with outside organizations including the Public Utilities Board, City Manager and City Council. General Management provides guidance to staff on issues related to state and federal legislation, external and internal communication, operations, engineering, customer service, energy resource options, and financial management. The primary goal of the General Management division is to set goals based on PUB priorities and provide resources to enable AMP staff to achieve these goals.
EXPENDITURE SUMMARY
FY 2020 FY 2021 FY 2022 FY 2023 Actual Budget Proposed Planned Expenditure Category
(1) Personnel Services $ 439,843 $ 589,900 $ 605,200 $ 623,400 (1) Contractual Services 150,432 245,000 258,000 263,200 (1) Materials & Supplies 3,745 32,500 41,250 42,100
Total $ 594,020 $ 867,400 $ 904,450 $ 928,700
(1) Safety was moved from operations to general management in FY2021
PERSONNEL SUMMARY
Position(s) FY 2020 FY 2021 FY 2022 FY 2023 Actual Budget Proposed Planned
General Management General Manager 1 1 1 1 Executive Assistant 1 1 1 1 Safety Superintendent/Officer 1 1 1 1 Senior Management Analyst (HR) 1 1 1 1
Total 4 4 4 4
Section 5 – Page 32 Key Performance Indicators (KPIs)
• Sustainability • Customer Experience • Workforce • Business Resiliency • Technology
INITIATIVES
• Ensure that customers have a positive experience • Implement programs that support a green Alameda • Develop workforce skills to adapt to changes in the Utility Industry • Maintain low customer outage frequency and duration, ensuring AMP remains in top quartile for annual System Reliability Metrics. • Increase awareness of customer programs and brand by 5 percent year over year • Achieve 100% carbon-neutral energy portfolio by 2020 and maintain in the future while able to • maintain competitive position • 100 percent of critical assets included and accurate in asset management inventory by 2021 • Maintain rates at 15 percent or more below PG&E and 10 percent or more below local CCAs • Increase the number of customers accessing information in AMP Account Management Tool by 5 • percent year over year • Increase number of qualified applicants for critical open positions by 25 percent by 2020 • Meet all bond covenants by annually ensuring 145 days of cash on hand and a bond ratio of 1.75
Section 5 – Page 33 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
GM General Management Executive Auto Allowance 10 10300 1 7114 10 1030017114 920 3,000.00
GM General Management Regular Pay 10 10300 1 7101 10 1030017101 920 345,700.00
GM General Management Overtime Pay 10 10300 1 7121 10 1030017121 920 4,800.00
GM General Management Regular Pay 10 10400 1 7101 10 1040017101 920 251,700.00
GM Safety & Compliance Safety Supplies (vests, coveralls, etc) 10 10300 3 8223 10 1030038223 923 25,000.00
GM Safety & Compliance Compliance - reporting & mat'l 10 10300 3 8221 10 1030038221 923 15,000.00
GM Safety & Compliance Hazardeous Mat'l-compliance 10 10300 2 8222 10 1030028222 923 15,000.00
GM Safety & Compliance Mandatory Training 10 10300 2 8333 10 1030028333 923 15,000.00
GM General Management Training & Seminars 10 10100 2 8332 10 1010028332 921 5,000.00
GM General Management Office Supplies & Expense 10 10100 3 8101 10 1010038101 921 1,250.00
GM General Management Travel Expenses - Staff 10 10103 2 8212 10 1010328212 921 3,000.00
GM General Management Travel Expenses - Pub 10 10201 2 8211 10 1020128211 921 20,000.00
GM General Management Consulting/Labor Negotiations 10 10102 2 8372 10 1010228372 923 100,000.00
GM General Management Dues & Subscriptions 10 10104 2 8201 10 1010428201 930 100,000.00
Section 5 - Page 34 Alameda Municipal Power Fiscal Year 2022 Detailed Budget by Division
A Summary FERC Div Section - Cost Center Account Description Fund Function Source Detailed Activity Budget Code Account T DRAFT Budget for FY 2022
GM Total 904,450.00
Section 5 - Page 35 Capitalized Infrastructure
Projects (CIP) This Page Left Intentionally Blank Alameda Municipal Power FY2022 Budget Capital Expenditures
Special Stock Subcategory Funding Project Name Engineering Line Substation Contract FY22 Purchases Replace 12kV Switchgear Upgrade Substations Rates Cartwright 34,100 15,000 90,000 139,100
Substations Rates Cartwright Expansion -
Substations Rates Pole Protection at Flexivan -
Substations Rates Air Switch Replacement - Bus & Transformer Substations Rates Differentials 30,000 20,000 75,000 125,000 Smart Switches, SCADA Substations Rates integration, recloser -
Distribution C&T Cable Rejuvenation 75,000 75,000
Solar Generation REC's Doolittle PV 30,000 460,000 150,000 275,000 915,000 Line Current Differential @ Substations Rates Jenny to Sta J -
Substations Rates Power Transformer Rehab 75,000 75,000 Replace Load Tap Changer Substations Rates (LTC) -
Substations C&T SF6 Breaker replacement 68,100 45,000 250,000 363,100 Retire 4kV System & unit Distribution Rates subs -
Distribution UUD UUD 315,362 41,100 1,210,500 93,000 1,659,962
Operations Rates Vehicle Replacements -
Operations Rates Asset/Workflow/Design -
New Development Rates New Loads 350,000 400,000 850,000 1,600,000
New Development OS Billing New Loads - O/S Billing (350,000) (240,000) (510,000) (1,100,000)
Support Services Rates HVAC
Capital Projects - Page 36 Alameda Municipal Power FY2022 Budget Capital Expenditures
Special Stock Subcategory Funding Project Name Engineering Line Substation Contract FY22 Purchases Replace
Support Services Rates LED Light -
Support Services Rates Backup Generator 175,000 Outage Management Information System Rates System 100,000 Virtual Servers Hard Information System Rates Refresh 350,000 Data Backup System Information System Rates Refresh / Rubrik 80,000
Information System Rates Cayenta Upgrade 200,000 Asset Management Information System Rates System Licenses 75,000
Information System Rates Fiber Management System 50,000 477,562 661,100 80,000 1,600,500 418,000 615,000 4,882,162
Row Labels Sum of FY22 C&T 438,100.00 Distribution 75,000.00 Substations 363,100.00 OS Billing (1,100,000.00) New Development (1,100,000.00) Rates 2,969,100.00 Distribution 0.00 New Development 1,600,000.00 Operations 0.00 Substations 339,100.00 Support Services 175,000.00 Information System 855,000.00 REC's 915,000.00 Solar Generation 915,000.00 UUD 1,659,962.00 Distribution 1,659,962.00 Grand Total 4,882,162.00
Capital Projects - Page 37 Addendum A
Resolutions This Page Left Intentionally Blank CITY OF ALAMEDA ALAMEDA MUNICIPAL POWER
RESOLUTION NO.______
ADOPTING AN INTERIM SPENDING AUTHORITY FOR THE FISCAL YEAR 2022 ______
WHEREAS, the Public Utilities Board has reviewed the proposed Budget for Fiscal Year 2022 and
WHEREAS, the Public Utilities Board is not prepared to adopt a final budget prior to June 30, 2021 and
WHEREAS, it is necessary to authorize the expenditure of funds in order to sustain operations in the interim.
NOW THEREFORE BE IT RESOLVED, that the Public Utilities Board hereby authorizes the amount of $15,000,000 to sustain operations for the months of July and August 2021.
FURTHER, BE IT RESOLVED that the Public Utilities Board, pursuant to Article XII, Sec.12-4, (D) of the City of Alameda Charter, has been assigned the budgeting authority for Alameda Municipal Power. The authority for implementing and managing the budget for the months of July and August 2021 is hereby delegated to the General Manager of Alameda Municipal Power, or his designee, subject to all of the constraints inherent in or implied by the Budget Policy provisions periodically adopted by the Public Utilities Board.
Approved as to Form
By: ______/S/ Alan Cohen Assistant City Attorney
ITEM NO.: 5.A MEETING DATE: 06/21/2021 EXHIBIT C CITY OF ALAMEDA ALAMEDA MUNICIPAL POWER
RESOLUTION NO. _____
APPROVING AN INVESTMENT POLICY FOR FISCAL YEAR 2021 AND DELEGATING INVESTMENT AUTHORITY PER THE INVESTMENT POLICY TO THE GENERAL MANAGER OF ALAMEDA MUNICIPAL POWER OR HIS DESIGNEE ______
WHEREAS, it is the objective of the Public Utilities Board (Board) to maintain adequate cash availability in AMP’s operating accounts and to strive for maximum yield on invested funds not required for immediate expenditure while ensuring that the principal invested is protected from loss; and,
WHEREAS, the Board hereby finds that the following policy ensures that funds not required for immediate expenditure are invested in compliance with this statement, as well as applicable federal, state and local legislation governing the investment of public funds. Funds shall be invested in a manner that will provide the highest investment return with the appropriate level of security, while meeting the daily cash flow demands of AMP.
NOW THEREFORE BE IT RESOLVED that the Board hereby approves the following Investment Policy:
I. Statement of Purpose and Adoption of Policy
It shall be the investment policy of AMP that all funds not required for immediate expenditures are invested in compliance with this statement, as well as applicable federal, state and local legislation governing the investment of public funds. Funds shall be invested in a manner that will provide the highest investment return with the appropriate level of security, while meeting the daily cash flow demands of AMP.
Safeguards will be set into place to ensure that adequate operating reserves are established and maintained to provide that cash, in sufficient amounts, will be available to pay for immediate expenditures as authorized by AMP’s Budget. Funds so maintained will be deposited in a manner best serving AMP.
It will be further recognized that AMP has a responsibility to monitor the security of its assets and always maintain a level of quality so that the public at large will have the highest confidence that its best interests are being served.
The purpose of this document is to identify various policies and procedures that enhance opportunities for a systematic investment process. The initial step toward a prudent investment policy is to organize and formalize investment related activities. Related activities, which comprise good cash management, include accurate cash projection, the expeditious collection of
AGENDA ITEM NO.: 5.A MEETING DATE: 06/21/2021 EXHIBIT D revenue, the control of disbursements, cost effective banking relations, and a short-term borrowing program, which coordinates working capital requirements and investment opportunities. In concert with these requirements are the many facets of an appropriate and secure investment program.
AMP’s Investment Policy shall be adopted by the PUB. The policy shall be reviewed at least annually by the General Manager and the Assistant General Manager-Administration, and any modifications must be approved by the PUB.
Any investment currently held that does not meet the guidelines of this policy shall be exempted from the requirements of this policy. At maturity or liquidation, such funds shall be reinvested only as provided by this policy.
II. Scope
It is intended that this policy cover all operating funds and investment activities under the direct authority of AMP. These funds are described in the AMP’s Comprehensive Annual Financial Report (CAFR) and include its Operating Fund, Capital Projects Funds, Special Revenue Funds, Fiduciary Funds and Trust Funds.
This investment policy applies to all transactions involving the financial assets and related activities of the foregoing funds. Except for cash held in separate restricted funds, AMP will pool cash balances from all funds for investments to maximize earnings and efficiencies with regards to investment pricing, safekeeping and administration. Investment income will be allocated to AMP based upon their respective average monthly balances and in accordance with Generally Accepted Accounting Principles (GAAP).
This investment policy does not apply to bond or debt proceeds, deferred compensation funds, retirement or other post-employment benefits trust funds as these are governed under separate California Government Code sections or other documentation.
III. Objectives and Performance Standards
The primary objectives, in priority order, of AMP’s investment activities shall be:
A. Safety: Safety of principal is the foremost objective of AMP’s investment program, followed by liquidity and yield. AMP’s Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in AMP’s portfolio. To obtain this objective, AMP will diversify its investments by investing funds among a variety of securities offering varying risk and return characteristics. Each investment transaction shall seek to first ensure that capital losses are avoided from securities default or erosion of market value. Investment decisions should not incur unreasonable investment risks in order to obtain current investment income. B. Liquidity: AMP’s investment portfolio will remain sufficiently liquid to enable AMP to meet all operating requirements, which might be reasonably anticipated. This need for investment liquidity may be tempered to the extent that AMP is able to issue short-term notes to meet its operating requirements. Emphasis will be on marketable securities with low sensitivity to market risk. Maturities of investments for which there is limited opportunity for resale shall be staggered to maximize liquidity.
C. Return: AMP maintains an active investment strategy and its investment portfolio shall be designed to attain a rate of return, which approximates benchmarks to be selected by AMP’s Public Utilities Board throughout budgetary and economic cycles, taking into account AMP’s investment risk constraints, the cash flow characteristics of the portfolio, and state and local laws, ordinances or resolutions that restricts the investment of funds.
D. Other Preferences: Where all other factors are equal, as a final consideration the following preferences for investing in institutions will be given in order:
a. Institutions principally located in the City of Alameda b. Institutions principally located in the County of Alameda c. Institutions principally located in the State d. Institutions principally located in the United States
E. Other Objectives: Investments are to be made that will bear in mind the responsibility of AMP to its ratepayers. Alternative investments, which enhance the quality of life, will be given full consideration. Investments, which serve to only enrich a few to the detriment of the people, will be strictly avoided. No investment is to be made in a company that receives more than 51% of gross revenues from the production or manufacture of cigarettes, alcohol, or gambling products, nor is any investment to be made in any company involved in the coal industry (defined as any company classified under Bloomberg Industry Classification Systems (BICS) code 131016). In addition, investing in Wells Fargo securities, when Wells Fargo is the issuer, will be prohibited at least until 2021.
F. Performance Standards: The investment portfolio will be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with investment risk constraints and cash flow needs. AMP’s basic investment strategy is to actively manage its investment portfolio. A security may be sold due to adverse changes in credit risk or due to unexpected cash flow needs. The total return benchmark used by AMP shall be the Secured Overnight Financial Rate (SOFR), 3-Year US Treasury Rates, and Local Agency Investment Fund (LAIF). IV. Prudence and Risk Tolerance
AMP recognizes that investment risks of the following can result from issuer defaults, market price changes or various technical complications leading to temporary illiquidity:
A. Credit risk is the possibility that deterioration of an issuer’s creditworthiness will adversely affect the value of its bonds or that an issuer will not make timely payments of interest or principal on its bonds (default). A decline in a bond issuer’s credit rating, or creditworthiness, may cause prices for its outstanding bonds to decline. This shall be mitigated by limiting investments to those allowed under this policy and by diversification.
B. Market or Interest Rate risk, defined as market value fluctuations due to overall changes in market price, shall be mitigated by eliminating the need to sell securities prior to maturity and investing operating funds primarily in shorter-term securities, money market funds or similar investment pools, thereby limiting the average maturity of the portfolio. Investments shall be made with the exercise of that degree of judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation but for investment, considering the safety of their capital as well as the income to be derived.
In accordance with Government Code section 53600.3, the standard of prudence to be used by investment officers shall be the "prudent investor standard”, and shall be applied in the context of managing an overall portfolio. Investment officers acting in accordance with written procedures and AMP’s investment policy and exercising due diligence shall be relieved of personal liability for an individual security credit risk or market price changes, provided that deviations from expectations are reported in a timely fashion, and appropriate action is taken to control adverse developments.
V. Internal Controls
The Assistant General Manager-Administration (AGM) will establish a system of internal controls, which shall be documented in writing. The controls shall be designed to prevent losses of funds arising from fraud, employee error, and misrepresentation by third parties, unanticipated changes in financial markets or imprudent actions by employees and board members. Controls deemed most important include: control of collusion, segregation of duties, separating transaction authority from accounting and recordkeeping, custodial safekeeping, clear delegation of authority, written confirmation of telephone transactions, minimizing the number of authorized investment officials, documentation of transactions and strategies, and code of ethical standards. In addition, whenever possible, pre- formatted wire transfers will be used to transfer funds to pre-authorized accounts.
The AGM shall establish an annual process for independent review of these controls by an external auditor. This review will help to ensure compliance with AMP’s investment policies and procedures. VI. Investment Procedures and Delegation of Authority
Article V of Article XII, Sec.12-3, (F) of the City of Alameda Charter, the Board has been assigned the investment authority for Alameda Municipal Power (AMP). This authority is hereby delegated to the General Manager of AMP, or his designee. Further, Section 53636 of the Government Code of the State of California provides that money on deposit is deemed to be in the treasury of AMP. Although the responsibility for the oversight of AMP’s investment program resides with the PUB, the day to day investment function is hereby delegated to the General Manager or his designee, who shall establish written procedures for the operation of the investment program, consistent with this investment policy.
Such procedures shall include a system of controls and explicit delegation to subordinate staff of authority for all investment activities, including investment transactions, procedures addressing safekeeping, wire transfer agreements, contracts, banking services, and procedures to be used in the absence of the General Manager. No person shall engage in an investment activity except as provided for in the documented system of the internal controls and procedures.
AMP may engage the services of one or more external investment managers to assist in the management of AMP’s investment portfolio in a manner consistent with AMP’s objectives. Such external managers may be granted discretion to purchase and sell investment securities in accordance with this Investment Policy. Such managers must be registered under the Investment Advisers Act of 1940.
VII. Safekeeping and Custody
Guidelines - All security transactions entered into by AMP shall be conducted on a delivery versus payment (DVP) basis as evidenced by safekeeping receipts in AMP’s name.
To protect against fraud and embezzlement, the investment securities of AMP shall be held in AMP’s safe or held by a third party custodian according to established safekeeping procedures. Custody will be evidenced by safekeeping receipts.
Securities purchased from brokers/dealers shall be held in a third party custodian account, which AMP has established for safekeeping. Said securities are to be held in the name of AMP with the trustee executing investment transactions as directed by the General Manager or his designee.
Receipts for confirmation of purchase of authorized securities must include trade date, pay value, maturity, rate, price, yield, and settlement date, description of securities purchased, agency's name, and third party custodian information. Trust Agreements - AMP shall direct the investment activities of trustees. Such direction shall be in keeping with the terms and condition of its trust agreements, applicable law and policies set forth in the Investment Policy. In addition to the acceptable investment instruments listed in Section IX, A thru K, bonds proceeds may be invested in securities permitted under Section 53635 and other investment instruments allowed by State law, and which comply with requirements imposed by bond insurance and rating agencies.
VIII. Authorized Banks and Financial Securities Dealers and Institutions
The General Manager or his designee shall approve all financial institutions from which securities are purchased. Deposits shall only be made in a qualified public depository as allowed under State Statute. In selecting financial institutions for the deposit or investment of AMP funds, the General Manager or designee will consider the credit rating of the institutions. These financial institutions shall be authorized to provide investment services in the State of California.
All financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply AMP with the following: audited financial statements, proof of National Association of Security Dealers certification, trading resolution, proof of state/province registration, a completed broker/dealer questionnaire, and a written certification agreeing to abide by AMP’s investment policy and depository contracts.
An annual review of the financial condition and registrations of qualified bidders may be conducted by the General Manager or designee. As part of any review performed, a current audited financial statement will be obtained for those financial institutions and brokers/dealers subject to review. Whenever reasonable a competitive bid process, utilizing a minimum of three financial institutions deemed eligible will be used to place investment purchases. AMP shall transact business only with banks, savings and loans, and with brokers/dealers approved by the PUB. If AMP contracts with an outside investment manager, the investment manager may use its own list of authorized broker/dealers to conduct transactions on behalf of AMP. The investment manager shall provide AMP with their list of approved broker/dealers annually. IX. Authorized Investments, Maximum Maturities and Investment Amounts
Concentration limits and credit criteria apply at time of purchase. The following represent the maximum maturities for and maximum percentage or dollar amounts that may be invested in specific investment types:
Maximum Minimum Required Investment Type * Maximum % or $ Maturity Rating *
Bank/Time Deposits None 5 years N/A
U.S. Treasuries None 5 years N/A
U.S. Agencies 75%; 25% for one issuer 5 years N/A Mutual Funds and Highest rating by 2 Money Market Funds 20% (10% with one issuer) 5 years NRSROs
Bankers Acceptances 30% (5% with one issuer) 180 days A1 or its equivalent A1 or its equivalent, A Commercial Paper rated issuer or its 25% (5% with one issuer) 270 days equivalent No rating for amount under FDIC insurance; 30% (combined with CDARS) Negotiable CDs 5 years A-1/A for amounts (5% with one issuer) greater then FDIC insurance Per State Statue LAIF ($75 million as of 1/1/20) N/A N/A
CAMP/Caltrust None N/A N/A CDs - non-negotiable / 30% (combined with NCDs) CDARS (5% with one issuer) 3 years N/A A (except City of Municipal Obligations 30% (5% with one issuer) 5 years Alameda bonds)
Medium Term Notes 30% (5% with one issuer) 5 years A or equivalent 15% (US Dollar denominated) Supranationals (10% with one issuer) 5 years AA or equivalent AA or equivalent rated Asset-Backed Securities 20% (5% with one issuer) 5 years issue
As specified in Government Code Section 53601, the PUB must expressly authorize the investment of funds that mature in excess of five years. Placement of such investments cannot occur until three months have lapsed from the date of authorization. Bond convenants may allow for a longer term investment for bond reserves held with a fiscal agent. It is the intent that investments shall be managed in such a way that any market price losses resulting from interest-rate volatility would be offset by coupon income and current income received from the overall portfolio over market cycles. To the extent possible, AMP will attempt to match its investments with anticipated cash flow requirements.
Pursuant to Government Code Section 53601 et seq. AMP may only invest in the following security types (See Attachment A – Glossary, for a detailed description of each of these investment types):
A. U.S. Government Treasury Bills and Notes
B. Federal Agency or U.S. Government-Sponsored Enterprise Debt (GSE) Obligations, Participations, or Other Instruments – including those issued by or fully guaranteed as to principal and interest by federal agencies or US government-sponsored enterprises.
C. Certificates of Deposit (non-negotiable) (CDs) – AMP is authorized to use of private CD placement services by local agencies. This investment policy allows for the use of a placement service called the Certificate of Deposit Account Registry Service (CDARS), which acts as the master custodian for the placement of CDs. Through the use of this placement service, local banks that work with CDARS place one investment by AMP and divide the deposit into individual CDs not to exceed $250,000, so that each individual CD is fully insured by the FDIC.
D. Bankers Acceptances (BA)
E. Commercial Paper - Prime commercial paper with an A1/P1 rating, or the equivalent, as provided for by a nationally recognized statistical-rating organization (NRSRO). Purchases must be limited to corporations organized and operating within the United States, having total assets in excess of $500 million, and has debt other than commercial paper, if any, rated in a rating category of “A” or its equivalent or higher by an NRSRO. In addition, purchases may not represent more than ten percent (10%) of the outstanding paper of an issuing corporation.
F. State of California Local Agency Investment Fund (LAIF)
G. CalTRUST
H. California Asset Management Program (CAMP)
I. Negotiable Certificates of Deposit - Must be issued by a nationally or state chartered bank, savings association or a federal association, a state or federal credit union, or by a federally- or state-licensed branch of a foreign bank. J. Medium Term Corporate Notes - Notes issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States. Eligible investments shall be rated in a rating category of “A” or its equivalent or better by an NRSRO.
If a corporate note owned by AMP is downgraded below the quality required by this Investment Policy, it shall be AMP’s policy to review the credit situation and make a determination as to whether to sell or retain such a corporate note in the portfolio.
a. If a security is downgraded two grades below the level required by AMP, the security shall be sold immediately.
b. If a security is downgraded one grade below the level required by this policy and matures within 6 months, the security will be held to maturity. The General Manager may determine to sell the security if it is determined that there is a probability of default prior to maturity. If a decision is made to retain the security in the portfolio, its presence in the portfolio will be monitored and reported quarterly to the PUB.
K. Municipal Obligations – Must be rated “A” or its equivalent or higher by an NRSRO except for AMP’s own bonds and bonds issued by the City of Alameda’s former Community Improvement Commission and its Financing Authority, which may have any rating. Municipal Obligations include the following:
a. Registered state warrants or treasury notes or bonds of the State of California and bonds, notes, warrants, or other evidences of indebtedness of any local agency within California, including bonds payable solely out of the revenues from a revenue producing property owned, controlled, or operated by the state or local agency or by a department, board, agency, or authority of the state or local agency.
b. Registered treasury notes or bonds of any of the 49 United States in addition to the State of California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 United States, in addition to the State of California.
L. Mutual Funds and Money Market Mutual Funds – that are registered with the Securities and Exchange Commission under the Investment Company Act of 1970, provided that:
a. Mutual Funds that invest in the securities and obligations as authorized under California Government Code, Section 53601 (a) to (k) and (m) to (q) inclusive and that meet either of the following criteria: 1. Attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs, or
2. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million.
3. No more than 10% of the total portfolio may be invested in shares of any one mutual fund.
b. Money Market Mutual Funds – registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and issued by diversified management companies and meet either of the following criteria:
1. Have attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs, or
2. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of $500 million.
3. No more than 10% of the total portfolio may be invested in Money Market Mutual Funds.
c. No more than 20% of the total portfolio may be invested in these securities.
M. Supranationals – Must be rated “AA” or its equivalent or higher by an NRSRO and is U.S. dollar denominated senior unsecured unsubordinated obligations issued by the International Bank for Reconstruction and Development, International Finance Corporation, or the Inter-American Development Bank.
N. Asset-Backed Securities (ABS) – Security must be rated “AA” or its equivalent or higher.
O. Prohibited Investments – AMP’s investment pool will not enter into repurchase or reverse repurchase agreements, mortgage backed securities/collateralized mortgage obligations, nor trade in options or future contracts. In accordance with Government Code Section 53601.6, no investment shall be made by AMP in any of the following instruments: inverse floaters, range notes, interest only strips, and any security that could result in zero interest accrual if held to maturity. X. Due Diligence: Adding Investment Pools / Mutual Funds / Money Market Mutual Funds
Thorough investigations of the pool / fund are required prior to investing and on a regular basis. Information should be obtained from the pool / fund regarding the following items:
• Authorized Investments • Investment Policy and Objectives • Interest Calculations / Distributions • Investment Limitations • Fee Schedule / Who May Invest • Eligibility for holding Bond Proceeds • Frequency of Statements • Treatment of Gains and Losses • Safeguarding of Investments • Settlement Process • Deposit / Withdrawal Limitations • Utilization of Reserves by Fund
XI. Diversification
It is the policy of AMP to diversify the investment portfolio in order to reduce the risk of loss resulting from over concentration of assets in a specific maturity, a specific issuer or a specific class of securities. See Section IX for limitations by category on the investment of funds. Maturities shall be selected which provide for stability of income and reasonable liquidity. Concern for liquidity shall be insured through practices that include covering the next vendor disbursement date and payroll date through maturing investments. Risks of market price volatility shall be controlled through maturity and issuer diversification.
In order to reduce portfolio risk, AMP’s portfolio will be diversified by type and issuer. The portfolio shall be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. AMP shall diversify its investments by investing funds among a variety of securities offering independent returns and financial institutions. In a diversified portfolio, occasional measured losses are inevitable, and must be considered within the context of the overall portfolio’s investment return.
XII. Collateralization
Collateral for time deposit in savings and loans is to be held by the Federal Home Loan Bank. Collateral for time deposits in banks is to be held in AMP’s name in the bank trust department or by the Federal Reserve. Bank Collateralization is required on Certificates of Deposit (non- negotiable) in excess of $250,000. (California Government Code Section 53652 (a)). AMP chooses to limit collateral to eligible securities authorized under the Government Code.
Collateral pledged with a U. S. Treasury Bill or Note must be at least 110% of the face value of the investment. Collateral pledged with first mortgages must be at least 150% of the face value of the investment. The right of collateral substitution may be granted by AMP. Collateral will always be held by an independent third party with whom the financial institution has a current custodial agreement. These parties are limited to only those trust companies and trust departments, or the Federal Home Loan Bank of San Francisco, which have been approved by the California State Superintendent of Banks. XIII. Ethics and Conflicts Of Interest
Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Employees and investment officials shall disclose to AMP any material financial interests in financial institutions that conduct business within their jurisdiction, and they shall further disclose any large personal financial or investment positions that could be related to the performance of AMP.
These disclosure requirements shall include complying with the disclosure and disqualification requirements as established by the Fair Political Practices Commission and Conflict of Interest Codes of the City of Alameda. A copy of each Investment Official's Statement of Economic Interest, which is required to contain disclosure of any material financial interests in financial institutions doing business with AMP, shall be filed annually with the City of Alameda Clerk.
XIV. Reporting Requirements
The General Manager, or his designee, shall report monthly to the Public Utilities Board on the status of AMP’s investment portfolio. This report shall include the type of investment, issuer, investment maturity date, par value and dollar amount invested on all securities, current market value information as of the date of the report, source of the market value, and the yields on all investments.
The PUB will meet as needed or as market or economic condition changes to determine general strategies and to monitor results. The PUB shall include in its deliberations such topics as: economic outlook, portfolio diversification and maturity structure, potential risks to AMP’s funds, approval of authorized financial institutions, and the target rate of return on investment portfolio. The written investment procedures shall be reviewed by the PUB on an annual basis.
In accordance with Governmental Accounting Standards Board (GASB) Statement No. 31, “Accounting and Financial Reporting for Certain Investments”, as of June 30th of each Fiscal Year AMP will report all investments in excess of one year at market value. Any change in the value of the investments will be recognized on an annual basis, as a part of interest income. The monthly information shall state compliance of the portfolio with AMP’s investment policy, or the manner in which the portfolio is not in compliance. The monthly information shall also include a statement that AMP is able to meet its expenditure requirements for the next six months, or provide an explanation as to why sufficient money may not be available. The monthly information shall be submitted to the PUB within 30 days following the end of the month, or as soon as practicable after the data is available to AMP.
Approved as to Form
By: ______/S/ Alan Cohen Assistant City Attorney Attachment A Glossary
Accrued Interest: Coupon interest accumulated on a bond or note since the last interest payment or, for a new issue, from the dated date to the date of delivery.
Agencies: Federal agency securities and/or Government-sponsored enterprises. These include securities of government agencies such as, but not limited to: Federal National Mortgage Association (FNMA); Federal Home Loan Bank (FHLB); Government National Mortgage Association (GNMA); Community Development Corporation (CDC), Small Business Association (SBA), Tennessee Valley Authority (TVA), Federal Farm Credit Bank (FFCB) and Federal Home Loan Mortgage Corporation (FHLMC).
Arbitrage: Transactions by which securities are bought and sold in different markets at the same time for the sake of the profit arising from a yield difference in the two markets. The 1986 Tax Reform Act made this practice by municipalities illegal solely as a borrowing tactic, except under certain safe-harbor conditions.
Asked: The price at which securities are offered.
Asset-Backed Securities (ABS): Securities that are supported by pools of assets, such as installment loans or leases, or by pools of revolving lines of credits. Asset-backed securities are structured as trusts in order to perfect a security interest in the underlying assets.
Bank Deposits: To deposit collateral in the form of currency that may be in the form of demand accounts (checking) or investments in accounts that have a fixed term and negotiated rate of interest.
Bank Notes: A senior, unsecured, direct obligation of a bank or U.S. branch of a foreign bank.
Bankers’ Acceptance (BA): These are bills of exchange or time drafts drawn on, and accepted by, commercial banks in the top 100 of the world, which are eligible for purchase by the Federal Reserve System. Acceptance of the draft obligates the bank to pay the bearer the face amount of the draft at maturity. In addition to the guarantee by the accepting bank, the transaction is secured with a specific commodity. The sale of the underlying goods will generate the funds necessary to liquidate the indebtedness. BAs are usually created to finance the import and export of goods, the shipment of goods within the United States and the storage of readily marketable staple commodities. BAs are sold at a discount from par and the amount and maturity date are fixed. Basis Point: Refers to the yield on bonds. Each percentage point of yield in bonds equals 100 basis points (1/100% or 0.01%). If a bond yield changes from 7.25% to 7.39% that is an increase of 14 basis points.
Benchmark: A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the portfolio’s investments.
Bid: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer.
Bond Proceeds: The money paid to the issuer by the purchaser or underwriter of a new issue of municipal securities. These moneys are used to finance the project or purpose for which the securities were issued and to pay certain costs of issuance as may be provided in the bond contract.
Bonds: A debt obligation of a firm or public entity. A bond represents the agreement to repay the debt in principal and, typically, in interest on the principal.
Book Entry: The system maintained by the Federal Reserve, by which most money market securities are delivered to an investor’s custodial bank. The Federal Reserve maintains a computerized record of the ownership of these securities and records any changes in ownership corresponding to payments made over the Federal Reserve wire (delivery versus payment).
Book Value: The value at which a debt security is shown on the holder’s balance sheet. Book value is acquisition cost less amortization of any premium or discount.
Broker: A broker assists in the buying and selling of investments together for a commission.
California Asset Management Program (CAMP): CAMP is a money market portfolio rated AAAm by Standard and Poor’s and created for California Public Agencies. Similar to LAIF, CAMP provides daily liquidity, money market returns and unlimited number of deposits and withdrawals. CAMP may hold a broader range of securities that would not be eligible under AMP investment criteria. Since CAMP is subject to different statutory investment provisions, any such variances in their holdings are acceptable under this policy
Call Price: The price at which an issuer may redeem a bond before maturity
Callable Bond: A bond issue in which all or a part of its outstanding principal amount may be redeemed before maturity by the issuer under specified conditions
CALTRUST: a Joint Powers Authority created by public agencies to provide a convenient method for public agencies to pool their assets for investment purposes. CalTRUST is governed by a Board of Trustees made up of experienced local agency treasurers and investment officers. The Board sets overall policies for the program and oversees the activities of the investment manager and other agents. CD Placement Service: A private CD placement service that allows local agencies to purchase more than $250,000 in CDs from a single financial institution (must be a participating institution of CDARS) while still maintaining FDIC insurance coverage. CDARS (Certificate of Deposit Account Registry System) is currently the only entity providing this service. CDARS facilitates the trading of deposits between the California institution and other participating institutions in amounts that are less than $250,000 each, so that FDIC coverage is maintained.
Certificate Of Deposit (CD): See “Non-Negotiable” and “Negotiable” Certificate of Deposit. Large-denomination CDs are typically negotiable.
Collateral: Securities, evidence of deposit or other property, which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.
Commercial Paper: Unsecured promissory notes issued to finance short term credit needs, with maturities ranging from 2 to 270 days. Unsecured promissory notes are issued to finance short term credit needs. The paper must be of "prime" quality of the highest ranking, or of the highest letter and numerical rating as provided by Moody's or Standard & Poor's. Eligible paper is further limited to issuing corporations that are organized and operate within the United States, have total assets in excess of $500 million, and have an 'A1-P1' rating for its debt from Moody's or Standard & Poor's.
Comprehensive Annual Financial Report (CAFR): The official annual report for AMP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section.
Corporate Notes and Bonds: Debt instruments, typically unsecured, issued by corporations, with original maturities in most cases greater than one year and less than ten years. Medium term notes (MTN) are unsecured, corporate and depository institution debt obligations. Allowable medium term notes must be issued by corporations organized and operating within the United States (U.S.) or by depository institutions licensed by the U.S. or any state and operating within the U.S. MTNs must be rated “A” or its equivalent or higher by Moody’s or Standard and Poor’s.
County Pooled Investment Funds: The aggregate of all funds from public agencies placed in the custody of the county treasurer for investment and reinvestment.
Coupon: (a) The annual rate of interest that a bond’s issuer promises to pay the bondholder on the bond’s face value and (b) a certificate attached to a bond evidencing interest due on a payment date.
Credit Rating: Various alphabetical and numerical designations used by institutional investors, Wall Street underwriters, and commercial rating companies to give relative indications of bond and note creditworthiness. Standard & Poor’s and Fitch Ratings use the same system, starting with their highest rating, of AAA, AA, A, BBB, BB, B, CCC, CC, C, and D for default. Moody’s Investors Service uses Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C, and D. Each of the services use pluses (+), minuses (-), or numerical modifiers to indicate steps within each category. The top four letter categories are considered investment grade ratings. Credit Risk: The chance that an issuer will be unable to make scheduled payments of interest and principal on an outstanding obligation. Another concern for investors is that the market’s perception of a corporation’s credit will cause the market value of a security to fall, even if default is not expected.
CUSIP Number: The Committee on Uniform Security Information Procedures (CUSIP) Number refers to a security’s identification number assigned to each publicly traded security by the CUSIP Service Bureau operated by Standard & Poor’s for the American Bankers Association. The CUSIP Number is a nine-character identifier unique to the issuer, the specific issue and the maturity, if applicable (the first six characters identifying the issuer, the next two identifying the security and the last digit provides a check digit to validate the accuracy of the preceding CUSIP number).
Custodian: A bank or other financial institution that keeps custody of stock certificates and other assets.
Dealer: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.
Debenture: A bond secured only by the general credit of the issuer.
Defeased Bond Issues: Issues that have sufficient money to retire outstanding debt when due so that the agency is released from the contracts and covenants in the bond document.
Delivery versus Payment: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities.
Derivatives: Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or financial contracts based upon amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities).
Discount: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price after sale is considered sold at a discount.
Diversification: Dividing investment funds among a variety of securities offering independent returns
Discount Securities: Non-interest bearing money market instruments that are issued a discount and redeemed at maturity for full face value, e.g., U.S. Treasury Bills.
Duration: A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices.
Effective Duration: A measure of the price sensitivity of fixed-income investments, especially for those with embedded option features such as call options. As yields rise, the effective duration of a callable investment rises to reflect the fact that it has become less likely to be called. The more rates rise, the longer the effective duration will become, approaching the duration to maturity. The converse is true in a declining interest rate environment (that is, the more rates fall, the shorter the effective duration will become, approaching the duration to call). For securities without an embedded option, the duration to call, maturity, and effective duration are all the same. The calculation for effective duration involves averaging the duration under a simulation of many possible interest rate scenarios in the future.
Extendable Notes: Securities with maturity dates that can be extended by mutual agreement between the issuer and investor. When investing in these types of securities, the maturity date plus the stated extendable option must not exceed the time frames that are allowed in California Government Code or the investment policy for the investment type.
Federal Credit Agencies: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., banks, small business firms, students, farmers, farm cooperatives, and exporters.
Federal Deposit Insurance Corporation (FDIC): A federal agency that insures bank deposits, up to $250,000 per deposit.
Federal Funds Rate: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations.
Federal Home Loan Banks (FHLB): Government sponsored wholesale banks (currently 12 regional banks), which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. The mission of the FHLBs is to liquefy the housing related assets of its members who must purchase stock in their district Bank.
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A United States government sponsored corporation.
Federal National Mortgage Association (FNMA): FNMA, like GNMA, was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae is a private stockholder-owned corporation and its purchases include a variety mortgages and second loans. FNMA’s securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest.
Federal Open Market Committee (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money.
Federal Reserve System: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system.
Fiduciary: A person who holds something in trust for another and bears liability for its safekeeping.
Financial Industry Regulatory Authority (FINRA): A self-regulatory organization (SRO) of brokers and dealers in the over the counter securities business. Its regulatory mandate includes authority over business dealings conducted between dealers, brokers and all public investors.
First Tier Securities: Securities that have received short-term debt ratings in the highest category from the requisite NRSROs, or are comparable unrated securities, or are issued by money market funds, or government securities. [See sec Rules: Paragraph (a)(12) of rule 2a-7]
Government Accounting Standards Board (GASB): A standard-setting body, which prescribes standard accounting practices for governmental units.
Government National Mortgage Association (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHA mortgages. The term “pass-throughs” is often used to describe Ginnie Maes.
Guaranteed Investment Contracts (GICS): An agreement acknowledging receipt of funds for deposit, specifying terms for withdrawal, and guaranteeing a rate of interest.
Interest: The amount a borrower pays to a lender for the use of his or her money.
Interest Rate Risk: The potential for a decline in bond prices and the market value of bonds in the portfolio, due to rising market interest rates. In general, bond prices vary inversely with interest rates. The change in a bond’s price depends on several factors, including its maturity date. In general, bonds with longer maturities are more sensitive to changes in interest rates than bonds with shorter maturities. Similarly, bond funds with longer average portfolio maturities, such as the CalTRUST Medium-Term and Long-Term Accounts, will be more sensitive to interest rate changes than those with shorter average portfolio maturities, such as the CalTRUST Short-Term account.
Investment Agreements: Investment agreements are contracts with respect to funds deposited by an investor. Investment agreements are often separated into those offered by banks and those offered by insurance companies. In the former case, they are sometimes referred to as “bank investment contracts.”
Liquidity: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes.
Liquidity Risk: The chance that a security, sold prior to maturity, will be sold at a loss of value. For a local agency, the liquidity risk of an individual investment may not be as critical as how the overall liquidity of the portfolio allows the agency to meet its cash needs.
Local Agency Investment Fund (LAIF): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment. LAIF was created in the California State Treasury by Section 16429 GC. LAIF holds local government funds in trust in a state investment pool in order to provide safety, liquidity and the benefits of the investment pool yield for local government entities invested in LAIF. LAIF may hold a broader range of securities that would not be eligible under AMP’s investment criteria. Since LAIF is subject to different statutory investment provisions, any such variances in the LAIF pool holdings are appropriate exceptions for AMP purposes.
Market Risk: The chance that the value of a security will decline as interest rates rise. In general, as interest rates fall, prices of fixed income securities rise. Similarly, as interest rates rise, prices fall. Market risk also is referred to as systematic risk that affects all securities within an asset class similarly.
Market Value: The price at which a security is trading and could presumably be purchased or sold on a specific date.
Master Repurchase Agreement: A written contract covering all future transactions between the parties to repurchase and reverse repurchase agreements that establish each party’s rights in the transactions. A master agreement will often specify, among other things, the right of the buyer-lender to liquidate the underlying securities in the event of default by the seller borrower.
Maturity: The date upon which the principal or stated value of an investment becomes payable.
Money Market: The market in which short-term debt instruments (bills, commercial paper, bankers’ acceptances, etc.) are issued and traded. Rule 2a-7 of the Investment Company Act applies to Money Market Funds, which mandates these funds to maintain certain standards, including a 13 month maturity limit and a 90 day average maturity on investments, to maintain a constant net asset value of $1.00.
Mortgage Backed Securities (MBS): Mortgage-backed securities (MBS) are created when a mortgagee or a purchaser of residential real estate mortgages creates a pool of mortgages and markets undivided interests or participations in the pool. MBS owners receive a prorata share of the interest and principal cash flows (net of fees) that are “passed through” from the pool of mortgages. MBS are complex securities whose cash flows are determined by the characteristics of the mortgages that are pooled together. Investors in MBS face prepayment risk associated with the option of the underlying mortgagors to pre-pay or payoff their mortgage. Most MBS are issued and/or guaranteed by federal agencies and instrumentalities (e.g., Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA), and Federal Home Loan Mortgage Corporation (FHLMC)).
Mortgage Pass-Through Obligations: Securities that are created when residential mortgages (or other mortgages) are pooled together and undivided interests or participations in the stream of revenues associated with the mortgages are sold.
Mutual Funds: An investment company that pools money and can invest in a variety of securities, including fixed-income securities and money market instruments.
Nationally Recognized Statistical Rating Organizations (NRSROs): Credit rating agencies whose ratings are permitted to be used for regulatory purposes such as Securities and Exchange Commission.
Negotiable Certificate Of Deposit (NCD): A large denomination certificate of deposit which can be sold in the open market prior to maturity. Generally, it is a short-term debt instrument that usually pays interest and is issued by a bank, savings or federal association, state or federal credit union, or state-licensed branch of a foreign bank. The majority of negotiable cds mature within six months, while the average maturity is two weeks. Negotiable CDs are traded in a secondary market and are payable upon order to the bearer or initial depositor (investor). These instruments are supported only by the strength of the institution issuing them.
Net Asset Value (NAV): A term used in the mutual fund industry to determine the average price per share of a pool or mutual fund. How this measure varies over time provides information on whether the pool is stable or variable. NAV is the market value of all securities in a mutual fund, less the value of the fund’s liabilities, divided by the number of shares in the fund outstanding. Shares of mutual funds are purchased at the funds’ offered NAV.
Net Present Value: An amount that equates future cash flows with their value in the present terms.
Non-Negotiable Certificates of Deposit: Funds deposited in nationally or state chartered banks or state or federal associations for a specified period of time at a specified rate of interest. The first $250,000 is guaranteed by the Federal Deposit Insurance Corporation (FDIC) for banks, the Federal Savings and Loan Insurance Corporation (FSLIC) for savings and loan associations and the National Credit Union Share Insurance Fund (NCUSIF) for credit unions. CDs with a face value in excess of $250,000 must be collateralized at 110% of market value with pledged securities of the banking institution.
Note: A written promise to pay a specified amount to a certain entity on demand or on a specified date. Usually bearing a short-term maturity of a year or less (though longer maturities are issued—see “Medium-Term Note”).
Offer: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid.
Open Market Operations: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve’s most important and most flexible monetary policy tool.
Options: A contract that gives the buyer the right to buy or sell an obligation at a specified price for a specified time. Exchange Traded Options are standardized option contracts that are actively traded on the Chicago Board of Exchange on a daily basis, whereas over the counter options are traded directly between the buyer and seller at agreed upon prices and conditions (the former type of option is therefore more liquid than the latter).
Par Amount Or Par Value: The principal amount of a note or bond which must be paid at maturity. Par, also referred to as the “face amount” of a security, is the principal value stated on the face of the security. A par bond is one sold at a price of 100 percent of its principal amount.
Portfolio: Collection of securities held by an investor. Premium: The amount by which the price paid for a security exceeds the security’s par value. Investors pay a premium to purchase a security when the return to the investor (yield) is lower than the stated coupon (interest rate) on the investment.
Price: Price is the amount of monetary consideration required by a willing seller and a willing buyer to sell an investment on a particular date.
Primary Dealer: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include the Securities and Exchange Commission (SEC), registered securities broker-dealers and banks.
Principal: The face value or par value of a debt instrument, or the amount of capital invested in a given security.
Prospectus: A legal document that must be provided to any prospective purchaser of a new securities offering registered with the SEC that typically includes information on the issuer, the issuer’s business, the proposed use of proceeds, the experience of the issuer’s management, and certain certified financial statements (also known as an “official statement”).
Prudent Person Rule: An investment standard. In some states the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody state, the so-called legal list. In other states the trustee may invest in a security if it is one which would be bought by a prudent person of discretion and intelligence who is seeking an income and preservation of capital.
Qualified Public Depositories: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits.
Rate Of Return: The yield on a security based on its purchase price or its current market price. This may be the amortized yield to maturity, on a bond it is the current income return.
Reverse Repurchase Agreements: An agreement of one party (for example, a financial institution) to purchase securities at a specified price from a second party (such as a public agency) and a simultaneous agreement by the first party to resell the securities at a specified price to the second party on demand or at a specified date.
Repurchase Agreement (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security “buyer” in effect lends the “seller” money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. One exception is when the Federal Reserve is said to be doing RP, it is lending money that is increasing bank reserves.
Risk: The uncertainty of maintaining the principal or interest associated with an investment due to a variety of factors.
Rule G-37 Of The Municipal Securities Rulemaking Board: Federal regulations to sever any connection between the making of political contributions and the awarding of municipal securities.
Safety: In the context of investing public funds, safety relates to preserving the principal of an investment in an investment portfolio; local agencies address the concerns of safety by controlling exposure to risks.
Safekeeping: A service to customers rendered by banks for a fee, whereby securities and valuables of all types and descriptions are held in the bank’s vaults for protection.
Secondary Market: A market made for the purchase and sale of outstanding issues following the initial distribution.
Securities & Exchange Commission: Agency created by Congress to protect investors in securities transactions by administering securities legislation.
SEC Rule 15C3-1: See Uniform Net Capital Rule.
Settlement Date: The date when a trade is cleared by delivery of securities against funds
Structured Notes: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, etc.) and Corporations, which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, and derivative based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve.
Supranationals: International financial institutions that are generally established by agreements among nations, with member nations contributing capital and participating in management. Supranational bonds finance economic and infrastructure development and support environmental protection, poverty reduction, and renewable energy around the globe.
Swap: A swap is any financial transaction that involves the simultaneous purchase of a security and the sale of another for the purpose of enhancing an investor’s portfolio. Swap transactions of interest to California public investors include portfolio swaps and interest rate swaps.
Tax and Revenue Anticipation Notes (TRANS): Notes issued in anticipation of receiving tax proceeds or other revenues at a future date.
Time Deposits: Issued by depository institutions against funds deposited for a specified length of time. Time deposits include instruments such as deposit notes. They are distinct from certificates of deposit (CDs) in that interest payments on time deposits are calculated in a manner similar to that of corporate bonds, whereas interest payments on CDs are calculated similar to that of money market instruments.
Treasury Bills: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months to one year.
Treasury Bonds: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years.
Treasury Notes: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years.
Trustee: A financial institution with powers to act in a fiduciary capacity for the benefit of the bondholders in enforcing the terms of the bond contract.
Underwriter: A dealer that purchases a new issue of municipal securities for resale.
Uniform Net Capital Rule: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash.
U.S. Treasury Obligations: These are debt obligations of the U.S. Government sold by the Treasury Department in the forms of bills, notes, and bonds, for which the full faith and credit of the United States are pledged for the payment of principal and interest. Bills are short-term obligations that mature in one year or less and are sold at a discount. Notes are obligations that mature between one year and ten years. Bonds are long-term obligations that generally mature in ten years or more. Weighted Average Maturity (WAM): The average maturity of all the securities that comprise a portfolio that is typically expressed in days or years.
Yield (Yield to Maturity, Yield to Call or Yield to Worst): The rate of annual income return on an investment, expressed as a percentage. Income yield is obtained by dividing the current dollar income by the current market price for the security. Net yield or yield to maturity or call is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity or call.
Yield Curve: A graphical representation of the yield on bonds, notes or bills of the same type and credit risk at a specific date for maturities up to thirty years.
Zero Coupon Security: A security that is issued at a discount and makes no periodic interest payments. The rate of return consists of an accretion of the principal and is payable at par upon maturity. CITY OF ALAMEDA ALAMEDA MUNICIPAL POWER
RESOLUTION NO. _____
APPROVING A BUDGET POLICY FOR ALAMEDA MUNICIPAL POWER ______
WHEREAS, the Public Utilities Board hereby finds that the following policy provides reasonable guidelines for the preparation of the fiscal year budget; and
WHEREAS, the Public Utilities Board desires to have thoughtful consideration and comment given to planned activities for the fiscal year by both the public and staff; and,
WHEREAS, it is the objective of the Public Utilities Board to reasonably determine the expected revenue and expenses for the fiscal year.
NOW THEREFORE BE IT RESOLVED that the Public Utilities Board hereby approves the following Budget Policy to be effective July 1, 2021:
A. Objectives
A basic premise underlying Alameda Municipal Power’s Budget Policy shall be to ensure that thoughtful consideration is given to planned activity, comments are solicited from both the Public and the Board, reasonable determination of revenue and expenses is undertaken by staff, and that budgetary integration is employed as a management control device within the accounting system.
Every two years, staff shall appropriately amend the Budget Policy and present the policy to the Board for their review and adoption during the budget approval period.
B. Budget Criteria
Alameda Municipal Power (AMP) shall follow these general procedures in establishing the budgetary data reflected in the financial statements:
1. Staff shall conduct an Annual Planning Workshop to consider activities that have been completed, activities that are in progress, and activities that must be undertaken to accomplish goals and objectives;
2. Staff shall conduct a Board Planning Workshop on finance & budget to present a) specific work plans to be implemented in upcoming fiscal years to accomplish goals and objectives, b) draft revenue and expense projections, and c) financial impacts of the planned activity;
AGENDA ITEM NO.: 5.A MEETING DATE: 06/21/2021 EXHIBIT E
3. Staff shall submit to the Board a proposed operating budget for the fiscal year commencing the following July 1 which includes proposed expenditures and the means of financing them;
4. Ratepayer comments will be solicited during regular Board meetings;
5. The budget shall be legally enacted through passage of a resolution by the Board;
6. The General Manager shall be authorized to implement and manage the budget subject to the constraints inherent in or implied by the Budget Policy;
7. The General Manager shall be authorized to transfer budgeted amounts between divisions, sections, cost codes, and capital work activities, up to $100,000 per transfer request. The General Manager may delegate this authority to the Assistant General Managers and Supervisors up to $50,000 and $10,000 respectively;
8. The General Manager shall assure that expenditures do not exceed budgeted appropriations at the fund level without prior Board approval;
9. The General Manager shall assure that new projects/Capital Work greater than $75,000 are approved by the Board and shall not be substituted with budgeted projects/Capital work.
10. Unexpended appropriations shall lapse at fiscal year-end and may be reappropriated in the following year if needed;
11. Formal budgetary integration shall be employed as a management control device during the fiscal year;
12. Budgets shall be adopted on a basis that is consistent with generally accepted accounting principles (except that AMP budgets capital asset outlays as current year expenditures); and,
13. AMP may budget debt principal repayments, reserve funding, capital projects, and other activities requiring cash outlays, as current year expenditures.
C. Budget Development Guidelines
During development of the budget, staff shall give consideration to the following information and shall balance the needs of each operating unit:
1. Customer activity including sales estimates by major categories; 2. Revenue estimates and rate adjustment impacts; 3. Staffing level, pay scale adjustment, benefits, overtime percentage, fund allocation; 4. Cost of planned service contracts, new service requirements, planned City allocations, and any planned marketing activity including revenue reduction activity; 5. Material for Inventory, material issued from inventory, and close-out of continuing work; 6. Non-operating adjustments including reserves, debt service, City Transfers, interest, etc.; 7. Capital Equipment planned to be purchased during the fiscal year; 8. Capital Project work planned to be performed during the fiscal year; 9. Mandated reporting and compliance costs; and 10. Power purchase and reserve funding needs.
D. Reports of Budget Activities
Staff shall report to the Board monthly on the status of Budget activity in the Financial & Operating Report.
Approved as to Form
By: ______/S/ Alan Cohen Assistant City Attorney AGENDA ITEM NO.: 5.A MEETING DATE: 06/21/2021 EXHIBIT F
Public Utilities Board
Fiscal Year 2022 Budget
June 21, 2021
1 Overview
• Budget Schedule
• Significant changes – Post Budget Workshop
• FY 2022 Financial Summary
2 Budget Schedule
• Annual Planning Workshop (Completed January 25, 2021) • 10-year Pro Forma and update on rate projections planned for regular meeting of the Public Utilities Board (Completed March 15, 2021) • Staff will present recommendations for Rate Allocation among rate classes for the Board to consider at the regular meeting of the Public Utilities Board on April 19 (Completed April 19, 2021) • Board provides final comments on draft budget by May 06 (Completed May 6, 2021) • Staff will present the budget & the Board will consider adoption at the regular meeting of the Public Utilities Board on June 21 at 7:00 p.m. • Staff will implement the approved rate schedules and FY 2022 budget beginning July 1
3 Budget Changes – FY2022
• Adjustments to expenses
Proposed at Change After Description Workshop Workshop Net Change Admin-Billing/Finance - Pension Expense $ 1,974,103.61 $ 1,934,103.61 $ (40,000.00) Admin-Finance - Transfer to City based on April 2021 CPI 4,092,240.00 4,164,456.00 72,216.00 Customer Resources-New Development Construction Rebate Program 110,000.00 150,000.00 40,000.00
Total Expense Adjustment $ 6,176,343.61 $ 6,248,559.61 $ 72,216.00
4 FY 2022 Budget: Financial Summary (Pre & Post Workshop) FY 2022 Workshop FY 2022 Post Budget Workshop Budget Pre & Post Variance % Change REVENUE Revenue from Operations $63,138,100 $63,138,100 $0 0% C&T / REC Net Income $2,082,196 $2,082,196 $0 0% Non-Operating Revenue $325,000 $325,000 $0 0% Total Revenue $65,545,296 $65,545,296 $0 0%
Reserve Funding ($3,345,196) ($3,345,196) $0 0% Reserve Spending $7,973,162 $8,123,162 $150,000 2% Total Revenue & Reserves $70,173,262 $70,323,262 $150,000 0%
EXPENSES Purchased Power ($36,077,461) ($36,077,461) $0 0% Operating Expense ($28,875,066) ($28,875,066) $0 0% Non-operating Expense ($5,299,916) ($5,372,132) ($72,216) 1% Add Back Non-Cash Items $3,662,000 $3,662,000 $0 0% Debt Principal Payments ($1,600,000) ($1,600,000) $0 0% Capital Projects & Eqpt ($4,882,162) ($4,882,162) $0 0% Total Expenses ($73,072,605) ($73,144,821) ($72,216) 0% Net Adjustment ($2,899,343) ($2,821,559) $77,784
5 Contact Information
For additional information, please contact: Robert Orbeta 748-3910
6
To: Honorable President and Members of the Public Utilities Board From: Nicolas Procos, General Manager Re: General Manager’s Report – May 2021
PUB Highlights Customer Service Update - o Ferry Service at Bay Farm and Seaplane Lagoon will resume in July. Schedules and fees have been modified to increase ridership as the economy recovers from the pandemic. The San Franciso Bay Ferry and AC Transit have partnered to offer direct service between Fruitvale Bart and Seaplane Lagoon terminal to facilitate ridership between the two public transit systems. The Seaplane Lagoon terminal has adjusted routes to accommodate a water taxi service across the estuary. o Point Energy Innovations, the architect behind the new 200k sq ft Exelixis building on Harbor Bay Parkway, received AMP’s $10,000 designer incentive for advanced design. The high-tech, all-electric building includes a heat pump water system, induction cooking, and a Variable Refrigerant Flow (VRF) space heating system. The building owner can receive a new construction incentive when commissioning is complete later this year. o South Shore Safeway received a $49,812.48 rebate from AMP’s Energy Plus program for installing new higher-efficient refrigeration cases that save 216,516 kWh annually. o Early enrollment for the new TOU rate has taken off with 80 applications received in the first 2 days. The new TOU rate goes into effect July 1.
Energy Resource Planning/NCPA Update – o Hydro Update - Spring runoff tapered off at the end of May at NCPA Hydro’s key reservoir, New Spicer Meadows. The reservoir briefly reached 50% of total capacity (65% of average levels) before beginning it’s gradual decline that will continue for the rest of the year. o Forward power prices have escalated to over $100/MWh for on-peak power in the month of August. This is well above average and reflects concerns of scarcity of available power in the market as we contend with poor hydro conditions, high probabilities of above-average temperatures, and continued tight reserve margins. AMP should not be negatively impacted by these prices as we are fully resourced.
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.2 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
Administration Update o All of AMP’s staff have participated in weekly phishing security testing/education exercises over the past year. AMP’s phish-prone percentage has been on a downward trend and has recently reached an all-time low. Any phishing exercise failures resulted in additional security training. Additionally, all of AMP’s currently active staff have recently completed Identity Theft Prevention Training that covers data protection as well as cybersecurity concepts. o AMP completed its last cybersecurity assessment through American Public Power Association (APPA) in late 2020 and previously enlisted a local cybersecurity specialty firm for penetration testing and assessment in 2019. o AMP’s online portal continues to grow in subscribers. As of this month, there are 15,562 active accounts, which is an increase from the approximate 14K we reported in January. Monthly access to accounts continues to be in the 18-20K range
Engineering and Operations Updates - o Continued copper theft attempts are causing outages. Staff is working on various solutions to deter vandals/thieves. o UUD 38 design will be changed to allow for various subsurface equipment due to lack of opportunities for placement of padmounted equipment. Cooperation with other utilities progressing. o New backbone infrastructure installation at Marina Village is progressing to support growing commercial customer needs. o Targeted Meter Socket Rebate Program . Original letters were sent in Sep 2020. Customers were offered a rebate if they completed repairs within 12 months of notification. . As of May 2021 only 73 out of 356 had been completed. . On May 19, 2021 staff started sending reminders and calling customers who have not yet completed repairs to remind them of the rebate deadline. . Response to the reminders has been high. . The average rebate amount is $699
Outages - o On May 1st, vandalism/cooper theft 17 customers for 12 hours.
Safety May 2021: o 2021 Lost Time Cases: 0 o 2021 Recordable Injuries: 0 o 2021 First Aid Cases: 0 o 2021 Vehicle Accidents/ Incidents: 0
Fiscal Year 2021: o Lost Time Cases: 1 o Recordable Injuries: 2 o First Aid Cases: 1 o Vehicle Accidents/Incidents: 1 GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.3 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
Year to Date 2021: (January to May) o Lost Time Cases: 1 o Recordable Injuries: 1 o First Aid Cases: 1 o Vehicle Accidents/Incidents: 1
AMP 2019-2021 Accident & Incident Numbers 4.5
4
3.5
3
2.5
2
1.5
1
0.5
0 Vehicle Accidents/ Lost Time Cases Recordable Injuries First Aid Cases Incidents 2019 3 1 4 1 2020 1 1 4 2 2021 YTD 1 1 1 1
2019 2020 2021 YTD
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.4 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
Number of New Customer Enrollments to AMP’s Financial Assistance Programs
40 Energy Assistance Program (EAP) 920 29 27 915 30 914 25 20 21 909 910 20 18 17 15 14 15 906 12 905 902 903 10 900
0 895 895 892 -8.00 891 890 -10 888 -6.00 889 -9.00 -11.00 -12.00 885 -14.00
New Adds/ Removals -20 -16.00 -18.00 -19.00 879 880 -30 -29.00 875 -40 -37.00 870 Jul-20 Jan-21 Oct-20 Apr-21 Feb-21 Sep-20 Dec-20 Aug-20 Nov-20 Mar-21 May-21
New Adds Removals Total Enrollment
35 IPP Payment Extension EASE 30
25
20 21 22 15 5 14 10 8 15 10 12 6 7 12 5 7 8 8 7 4 5 3 6 4 2 4 0 1 1 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 21-May
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.5 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
CUSTOMER PROGRAMS & EXPERIENCE Table 1: Summary of Energy Efficiency Programs as of May 31, 2021
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.6 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
Figure 1: Total Number of Approved Heat Pump Water Rebate Applications
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.7 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
13 12 12 11 10 9 8 8 8 7 6 5 4 4 3
Used EV Rebate Applications Rebate EV Used 2 2 1 0 Apr-21 May-21 FY 2021 Q1 FY 2021 Q2 FY 2021 Q3
Figure 2: Residential Used Electric Vehicle Rebates
160 4 140 10 120
100
80 3 Commercial 60 Residential 40 Number of EV Chargers 3 20 30 19 80 144 128 10 9 0 5 Apr-21 May-21 FY 2018 FY 2019 FY 2020 FY 2021 Q1 FY 2021 Q2 FY 2021 Q3
Figure 3: Electric Vehicle Charger Rebates GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.8 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
160
140
120
100
80
60
40
20
0 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY21 data as of 5/31/2021 NC = new construction ERG Pending NC ERG Pending EX ERG NEM EX = existing building
Figure 4: Residential Solar Interconnections
Figure 5: Commercial Solar Interconnections GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.9 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
95 90 86 85 83 83 80 78 78 75 73 70 69 70 70 65 62 62 60 58 55 57 50 51 50 52 52 47 48 45 44 45 41 42 40 40 38 39 35 37 31 32 33 30 28 28 30 25 23 25 25 20 15 1214 10 9 5 0 FY19 FY20 FY21 FY21 FY21 FY21 FY21 FY21 FY21 FY21 FY21 FY21 FY21 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May ApplicationsReceived AMP Approved Installed/Operating
Figure 6: CumulativeBattery Storage
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.10 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
FINANCIALS Table 2: Monthly and Year to Date Total Operating Revenue and Expense Report as of April 30, 2021 Report Status as of: Annual (FY) May 31, 2021 Monthly To Date Goal Result Goal Result Total Operating Revenue - Electric 5,266,387 5,179,061 55,061,514 54,688,121 (April 2021)
Total Operating Expense - Electric 5,096,830 3,876,390 51,376,720 42,575,046 (April 2021)
Note: Shaded areas indicate the data is displayed on the accompanying graphs
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.11 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$-
Result Last Year
Figure 7: Fiscal Year 2021 Cumulative Net Income – Electric
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$-
Goal / Expectation Last Year Result
Figure 8: Fiscal Year 2021 Monthly Operating Revenue – Electric GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.12 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$-
Goal / Expectation Last Year Result
Figure 9: Fiscal Year 2021 Monthly Operating Expense – Electric
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$-
Goal / Expectation Last Year Result
Figure 10: Fiscal Year 2021 Cumulative Operating Revenue – Electric GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.13 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$-
Goal / Expectation Last Year Result
Figure 11: Fiscal Year 2021 Cumulative Operating Expense – Electric
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.14 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
Table 3: Special Revenue Summary – Fiscal Year 2021 Year-to-Date through April 2021
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.15 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021 OPERATIONAL STATISTICS
90 80 75.9
70 60.9 61.5 58.0 57.6 57.8 57.4 60.1 60 53.0 48.5 50 40 SAIDI Minutes Minutes 28.7 28.8 30 regional avg * 20 natl. top quartile * 10 0 Jun 20 Jun 20 Aug 20 Oct 20 Dec 21 Feb 21 Apr
Month
Figure 12: Rolling Twelve-Month System Average Interruption Duration Index (SAIDI)
*Based on Benchmark study of APPA Region 6
SAIDI= Sum of customer-minutes off for all interruptions Total number of customers served
System Average Interruption Duration Index (SAIDI): SAIDI is defined as the average duration of interruptions for customers served during a specified time period. Similar to CAIDI, but the number of customers served instead of affected is used. The unit is minutes. A common usage of SAIDI is "If all customers were without power the same amount of time, they would have been out for _____ minutes.
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.16 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
1.2
0.97 1.0 0.92 0.90 0.87 0.89 0.88 0.88 0.88 0.87 0.82 0.8
0.6 0.50 0.50 # of outages
# of outages regional avg * 0.4 natl. top quartile * 0.2
0.0 Jun 20 Jun 20 Aug 20 Oct 20 Dec 21 Feb 21 Apr
Month
Figure 13: Rolling Twelve-Month System Average Interruption Frequency Index (SAIFI)
*Based on Benchmark study of Western Regional Utilities
Total # of customers affected by SAIFI= interruptions Total number of customers served
System Average Interruption Frequency Index (SAIFI): SAIFI describes the average number of times a customer experiences a sustained interruption during a specified time period. The unit for SAIFI is 'interruptions per customer'. A common usage of SAIDI is "On average, customers experienced _____ interruptions".
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.17 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
100.0 90.0 78.4 80.0 68.7 66.4 65.3 65.2 65.4 65.5 68.0 70.0 64.5 57.1 57.3 56.0 60.0 50.0 minutes minutes 40.0 regional avg * 30.0 20.0 natl. top quartile * 10.0 0.0 Jun 20 Jun 20 Aug 20 Oct 20 Dec 21 Feb 21 Apr
Month
Figure 14: Rolling Twelve-Month Customer Average Interruption Duration Index (CAIDI)
*Based on Benchmark study of Western Regional Utilities
Sum of customer-minutes off for all sustained CAIDI= interruptions Total # of customers affected by the sustained interruptions
Customer Average Interruption Duration Index - CAIDI CAIDI is the weighted average length of an interruption for customers affected during a specified time period. The unit of CAIDI is minutes. A common usage of CAIDI is "The average customer that experienced an outage is out for _____ minutes.
GENERAL MANAGER’S REPORT AGENDA ITEM NO.: 6.A.18 REPORTING PERIOD: May 2021 MEETING DATE: 06/21/2021
FY 2021: CSR Calls Handled 4500 4000 3500 3000 2500 2000 1500 1000 500 0 Jul-20 Jan-21 Oct-20 Apr-21 Feb-21 Sep-20 Dec-20 Aug-20 Nov-20 Mar-21 May-21
CSR Calls Handled IVR Calls Recd Total Calls Recd
Figure 15: Fiscal Year 2021 Call Volume Through May 31, 2021
Average Speed of Answer (seconds)
50 45 45 39 40 35 29 28 30 25 23 26 24 23 25 23 20 16 15 10 5 0 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Average Speed of Answer (ASA) Average Speed of Answer (ASA) -Goal