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Home My WebLink About2020-05-21; Clean Energy Alliance JPA; ; Clean Energy Alliance Treasurer's ReportClean Energy Alliance JOINT POWERS AUTHORITY DATE: May 21, 2020 Staff Report TO: Clean Energy Alliance Board of Directors FROM: Marie Berkuti, Interim Treasurer ITEM 2: Clean Energy Alliance Treasurer's Report RECOMMENDATION: Receive and File Clean Energy Alliance Interim Treasurer's Report. BACKGROUND AND DISCUSSION: At its November 5, 2019 board meeting, the Clean Energy Alliance (CEA) Board appointed Marie Berkuti, City of Solana Beach Finance Director/Treasurer as the CEA Interim Treasurer. At that same meeting, the CEA board adopted the Fiscal Year 19/20 budget and established $150,000 advances from each Member Agency to fund the approved expenditures. This report provides the Board with the following financial information through April 30, 2020: • Budget to Actuals -Reports actual revenues and expenditures compared to adopted budget • Statement of Financial Position -Reports assets and liabilities of CEA • List of Payments Issued -Reports payments issued through April 30, 2020 BUDGET TO ACTUALS Through April 30, CEA has earned 100% of its revenue as a result of invoicing the advances to the Member Agencies. Of its approved $450,000 budgeted expenditures, $211, 162.82 has expended, leaving $238,837.18. May 21, 2020 Item #2 Page 1 of 4 Revenue Clean Energy Alliance Budget to Actuals As of April 30, 2020 BUDGET ACTUALS Advances from Member Agencies Total Revenue $ 450,000.00 $ 450,000.00 Expenditures Staffing/Consultants Legal Services Professional Services Memberships & Due Graphic Design Services CCA Bond Total Expenditures Net Results (Revenue -Expenditures) 450,000.00 450,000.00 $ 50,000.00 $ 22,019.24 130,000.00 37,812.69 115,000.00 51,330.89 1,500.00 6,500.00 147,000.00 100,000.00 $ 450,000.00 $ 211,162.82 $ $ 238,837.18 May 21, 2020 Treasurer's Report Page 2 of 4 VARIANCE $ 27,980.76 92,187.31 63,669.11 1,500.00 6,500.00 47,000.00 $ 238,837.18 $ 238,837.18 CEA staff has analyzed expenditures incurred through April 30, and projected expenditures through June 30, 2020. The chart below reflects the results of this analysis: Staffi ng/Consu lta nts Legal Services Professional Services CalCCA Membership & Dues Graphic Design Services CCA Bond TOTAL Clean Energy Alliance Estimated Expenditures through June 30, 2020 FY 19/20 Budget $ 50,000.00 130,000.00 115,000.00 1,500.00 6,500.00 147,000.00 $ 450,000.00 $ FY 19/20 Estimates 40,000.00 75,000.00 79,000.00 1,500.00 100,000.00 $295,500.00 NOTES Interim CEO General Counsel & Special Counsel Energy Consultants, Communications & Marketing & Other Support Affliliate Membership 19/20, Operational Membership 20/21 Logo/Mailers/Letterhead etc It is anticipated that CEA will incur $295,500 in expenditures through June 30, 2020, leaving $154,500 in remaining funds available for fiscal year 20/21. May 21, 2020 Item #2 Page 2 of 4 STATEMENT OF FINANCIAL POSITION May 21, 2020 Treasurer's Report Page 3 of 4 CEA's Statement of Financial Position reports the assets and liabilities as of April 30, 2020. Clean Energy Alliance Statement of Financial Position As of April 30, 2020 Assets River City Bank -Operating Account Due from Other Governments Tota I Assets Liabilities Accounts Payable Total Liabilities Reserve for Future Expenditures $146,549.27 150,000.00 $ 57,712.09 $ 296,549.27 $ 57,712.09 $238,837.18 As of April 30, CEA assets include $150,000 due from City of Del Mar, which is expected to be paid the week of May 18, 2020. Liabilities represent invoices received for services, but not yet paid. LISTING OF PAYMENTS The report below provides the detail of payments issued by CEA through April 30, 2020. All payments were within approved budget. May 21, 2020 Item #2 Page 3 of 4 May 21, 2020 Treasurer's Report Page 4 of 4 Clean Energy Alliance List of Payments Issued April 2020 Date Vendor 4/14/20 Pacific Energy Advisors 4/14/20 RWG Law 4/14/20 RWG Law 4/14/20 RWG Law 4/14/20 RWG Law 4/14/20 TosdalAPC 4/14/20 TosdalAPC 4/14/20 TosdalAPC 4/23/20 California Public Utilities Commission 4/28/20 River City Bank FISCAL IMPACT Description March 2020 Technical Consulting Svcs November 2019 General Counsel Svcs December 2019 General Counsel Svcs January 2020 General Counsel Svcs February 2020 General Counsel Svcs December 2019 Regulatory Counsel Svcs January 2020 Regulatory Counsel Svcs February 2020 Regulatory Counsel Svcs Clean Energy Authority CCA Bond Analysis Fee There is no fiscal impact associated with this item. ATTACHMENTS: May 21, 2020 Item #2 Amount $ 23,661.50 3,383.50 3,085.05 7,003.54 5,824.00 3,359.50 1,983.50 5,105.00 100,000.00 45.14 $153,450.73 Page 4 of 4 Item 2: Clean Energy Alliance Treasurer's Report Marie Berkuti, Interim Treasurer S/21/20 CLEAN ENERC,Y ALLIANCE 7 Item 2: Clean Energy Alliance Treasurer's Report • Recommendation 0 Receive and File Clean Energy Alliance Treasurer's Report 5/21/20 CLEAN ENI RGY ALLIANCE 8 Item 2: Clean Energy Alliance Treasurer's Report Revenue Clean Energy Alliance Budget to Actuals As of April 30, 2020 BUDGET ACTUALS VARIANCE Advances from Member Agencies Total Revenue $ 450,000.00 $ 450,000.00 Expenditures Staffing/Co nsu lta nts Legal Services Professional Services Memberships & Due Graphic Design Services CCA Bond Total Expenditures Net Results (Revenue -Expenditures) 450,000.00 $ 50,000.00 130,000.00 115,000.00 1,500.00 6,500.00 147,000.00 $ 450,000.00 $ 450,000.00 $ 22,019.24 $ 27,980.76 37,812.69 92,187.31 51,330.89 63,669.11 1,500.00 6,500.00 100,000.00 47,000.00 $ 211,162.82 $ 238,837.18 $ 238,837.18 $ 238,837.18 • • • 100% Revenue Accrued 47% of Expenditures incurred Anticipate savings @ June 30,2020 5/21/20 CLEAN ENEHC,Y All lANCE 9 Item 2: Clean Energy Alliance Treasurer's Report FY 19/20 Estimated Expenditures Description Staffing/Consultants Legal Services 130,000 Professional Services 115,000 Memberships/Dues 1,500 Graphic Design Svcs 6,500 CCA Bond 147,000 TOTAL $450,000 $40,000 75,000 79,000 1,500 0 100,000 $295,500 • $154,500 Savings Expected • CCA bond paid at lower amount • Savings in legal/consultant travel • Savings available for FY 20/21 Budget ',/?J/20 C llAN ENERl,Y Ail lANCf 10 I Item 2: Clean Energy Alliance Treasurer's Report Clean Energy Alliance Statement of Financial Position As of April 30, 2020 Assets River City Bank -Operating Account Due from Other Governments Total Assets Liabilities Accounts Payable Total Liabilities Reserve for Future Expenditures $146,549.27 150,000.00 $ 57,712.09 $ 296,549.27 $ 57,712.09 $238,837.18 • • • Assets -cash on hand and accounts receivable Liabilities -invoices received and not yet paid Reserve -unexpended budget 5/21/20 CLEAN ENERGY ALLIANCE 11 Item 2: Clean Energy Alliance Treasurer's Report Clean Energy Alliance List of Payments Issued April 2020 Date Vendor 4/14/20 Pacific Energy Advisors 4/14/20 RWG Law 4/14/20 RWG Law 4/14/20 RWG Law 4/14/20 RWG Law 4/14/20 TosdalAPC 4/14/20 TosdalAPC 4/14/20 TosdalAPC 4/23/20 California Public Utilities Commission 4/28/20 River City Bank Description March 2020 Technical Consulting Svcs November 2019 General Counsel Svcs December 2019 General Counsel Svcs January 2020 General Counsel Svcs February 2020 General Counsel Svcs December 2019 Regulatory Counsel Svcs January 2020 Regulatory Counsel Svcs February 2020 Regulatory Counsel Svcs Clean Energy Authority CCA Bond Analysis Fee River City Bank Analysis Fee Credited Back May 2020 per agreement Amount $ 23,661.50 3,383.50 3,085.05 7,003.54 5,824.00 3,359.50 1,983.50 5,105.00 100,000.00 45.14 $153,450.73 5/21/70 CLEAN ENf RGY ALLIANCE 12 Item 2: Treasurer's Report Board Discussion S/21/20 CLEAN ENf RGY All lANCI 13