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W A T E R E N E R G Y L I F F <br />RIVERSIDE PUBLIC UTILITIES <br />W& Board Memorandum <br />P U B L I C U T I L I T I E S <br />BOARD OF PUBLIC UTILITIES DATE: DECEMBER 10, 2018 <br />ITEM NO: 11 <br />SUBJECT: RIVERSIDE PUBLIC UTILITIES 2018 FINANCIAL REPORT <br />ISSUE: <br />Receive and file the Riverside Public Utilities 2018 Financial Report for the fiscal year ended June 30, <br />2018. <br />RECOMMENDATION: <br />That the Board of Public Utilities receive and file the Riverside Public Utilities 2018 Financial Report for the <br />fiscal year ended June 30, 2018. <br />BACKGROUND: <br />The financial report being presented outlines information about the operating performance and financial <br />condition of Riverside Public Utilities (RPU) for the 2017-18 Fiscal Year. An independent audit is performed <br />each year on the year-end financial report. Our current auditors are Macias, Gini and O'Connell, LLP. For <br />the fiscal year ended June 30, 2018, the auditors issued an unmodified opinion, which is considered a <br />clean opinion and is the best type of report RPU can receive from its auditors. The year-end financial <br />results for both the Electric and Water Utilities are presented below. <br />DISCUSSION: <br />REVENUES <br />Electric Utility Revenue Results: <br />c $400 $395 M $394 M $384 M <br />o <br />g $350 <br />$300 <br />$250 <br />$200 <br />$150 <br />$100 <br />$50 <br />$0 <br />Prior Yr -17 Actual -18 Budget -18 <br />■ Retail Sales ■ Transmission Revenue Other Operating Income ■ Other Non -Operating Income ■ Public Benefits <br />