03-14-2017 CC RPT 05 - Laserfiche WebLink

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CITY OF V RIERSIDE City °] Arts &Innovation City Council Memorandum IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII TO: HONORABLE MAYOR AND CITY COUNCIL DATE: MARCH 14, 2017 FROM: PUBLIC UTILITIES DEPARTMENT WARDS: ALL SUBJECT: OVERVIEW OF UTILITY FINANCIAL OPERATIONS FOR BOARDS AND COUNCILS ISSUE: Receive and file a presentation by Utility Financial Solutions, LLC providing an "Overview of Utility Financial Operations for Boards and Councils ". RECOMMENDATIONS: That the City Council receive and file a presentation by Utility Financial Solutions, LLC providing an "Overview of Utility Financial Operations for Boards and Councils ". BACKGROUND: American Public Power Association (APPA) provides workshops for Boards and Councils relating to public power topics and issues. In June 2016, Councilmember Davis and Board Members Austin, Crohn and Foust attended a pre- conference sessions at the APPA National Conference in Phoenix, Arizona relating to utility financial operations, as well as understanding a utility's cost structure and impact on rates. The sessions were very well received by all participants. At the June 14, 2016 Council meeting Councilmember Davis reported out on his experience at the conference and requested that staff provide a similar workshop in Riverside for all City Council and Board members. DISCUSSION: Dawn Lund, Vice President of Utility Financial Solutions, LLC, will provide a workshop outlining utility financial operations, as well as an understanding of a utility's cost structure and impact on rates. A similar presentation is scheduled for the Board of Public Utilities on March 13, 2017. FISCAL IMPACT: Consultant fees (including travel costs) for providing the two workshops to the Board and City Council are approximately $7,400. Sufficient funds are available in the Public Utilities Electric Fund Professional Services Account No. 6000000 - 421000.