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RIVERSIDE PUBLIC UTILITIES <br /> Board Memorandum <br />BOARD OF PUBLIC UTILITIESDATE: DECEMBER 11, 2017 <br />ITEM NO:8 <br /> <br />SUBJECT:RIVERSIDE PUBLIC UTILITIES 2017 FINANCIAL REPORT <br />ISSUE: <br />Receiveand filethe 2017Riverside Public Utilities FinancialReport for the fiscal year endedJune 30, <br />2017. <br />RECOMMENDATION: <br />That the Board of Public Utilities receiveand filethe Riverside Public Utilities 2017 Financial Report. <br />BACKGROUND: <br />The financialreport being presented outlines information about the operating performance and financial <br />condition of Riverside Public Utilities (RPU) for the 2016-17Fiscal Year. An independent audit is <br />performed each year on the year-end financial report. Our current auditors are Macias, Gini and <br />O’Connell, LLP. For the fiscal year ended June 30, 2017, the auditors issued an unmodifiedopinion, <br />which is considered aclean opinionand is the best type of report RPU can receive from its auditors.The <br />year-end financial results for both the Electric and Water Utilities are presented below. <br />DISCUSSION: <br />REVENUES <br />ElectricUtility Revenue Results: <br />Page 62 <br />