HomeMy WebLinkAbout2020-07-16; Clean Energy Alliance JPA; ; Clean Energy Alliance Treasurer's ReportClean Energy Alliance
JOINT POWERS AUTHORITY
Staff Report
DATE: July 16, 2020
TO: Clean Energy Alliance Board of Directors
FROM: Marie Marron 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
Marron Berkuti, City of Solana Beach Finance Director/Treasurer as the CEA Interim Treasurer.
At that same meeting, the CEA board adopted the Fiscal Year 2019/20 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 June 30, 2020
(draft):
• 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 for June 2020
The Treasurer's Report is a draft document as of June 30, 2020 because the CEA is awaiting June
invoices from RWG Law and Tosdal APC and an invoice from the City of Solana Beach for services
provided to the CEA for November 2019 through June 2020.
BUDGET TO ACTUALS
Through June 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, $350,900.48 has been expended, leaving
$99,099.52.
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Clean Energy Alliance
Budget to Actuals
for period ended June 30, 2020 (Draft)
Revenue
BUDGET ACTUALS VARIANCE
Advances from Member Agencies $ 450,000.00 $ 450,000.00
Total Revenue 450,000.00 450,000.00
Expenditures
Staffing/Consultants $ 50,000.00 $ 41,856.74 $ 8,143.26
Legal Services 130,000.00 65,564.59 64,435.41
Professional Services 115,000.00 116,979.15 (1,979.15)
Memberships & Due 1,500.00 26,500.00 (25,000.00)
Graphic Design Services 6,500.00 6,500.00
CCA Bond 147,000.00 100,000.00 47,000.00
Total Expenditures $ 450,000.00 $ 350,900.48 $ 99,099.52
Net Results (Revenue - Expenditures) $ 99,099.52 $ 99,099.52
STATEMENT OF FINANCIAL POSITION
CEA's Statement of Financial Position reports the assets and liabilities as of June 30, 2020
(Draft).
Clean Energy Alliance
Statement of Financial Position
As of June 30, 2020 (Draft)
Assets
River City Bank - Operating Account $ 199,483.98
Total Assets $ 199,483.98
Liabilities
Accounts Payable
Current
Noncurrent
Total Liabilities
Reserve for Future Expenditures
$ 61,919.70
38,464.76
$ 100,384.46
$ 99,099.52
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Treasurer's Report
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As of June 30, liabilities represent invoices received for services, but not yet paid. The noncurrent
accounts payable are amounts due to the cities of Carlsbad and Del Mar for services provided to
the CEA for the period November 2019 to June 2020. These invoices are scheduled to be paid
once the CEA is operational.
LISTING OF PAYMENTS
The report below provides the detail of payments issued by CEA for June 2020. All payments
were within approved budget.
Clean Energy Alliance
List of Payments Issued June 2020
Date Vendor Description Amount
06/04/20 Bays hore Consulting May 2020 CEO Services 9,900.00
06/17/20 Bays hore Consulting April 2020 CEO Services 7,612.50
06/17/20 RWG Law Dec 2020 General Counsel Svcs (Addt'l) 1,340.00
06/17/20 RWG Law April 2020 General Counsel Svcs 7,738.50
06/17/20 Tosdal APC May 2020 Regulatory Counsel Svcs 6,243.70
06/17/20 Hall Energy May 2020 Energy Procurement Counsel Svcs 4,046.00
06/17/20 Pacific Energy Advisors May 2020 Technical Consulting Svcs 8,585.00
Total June Payments $ 45,465.70
FISCAL IMPACT
There is no fiscal impact associated with this item.
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