Actual Expenditures, Last Three Budgets, include funding sources: Actual Actual Estimated Fund Fees/Other Funds $1,505,554 $1,285,972 $814,949
|
|
- Simon Dean
- 5 years ago
- Views:
Transcription
1 Actual Expenditures, Last Three Budgets, include funding sources: Actual Actual Estimated Fund Fees/Other Funds $1,505,554 $1,285,972 $814,949 Number of FTEs: 2013 FTE 2015 FTE 2017 FTE (Est.) ORS Authority ORS Chapter 470 Legislatively-directed Purpose ORS directs SELP to deploy loan funds using standards and criteria that encourage diversity in projects funded, give preference to projects proposed by individuals and small businesses, ensure acceptability of environmental impacts and require consideration of the potential contribution of a project if developed at other suitable locations to meeting the energy needs of the state. 1. What is the objective of this program or function? Describe the major activities performed under this program. Explain why these functions are still needed. 1 Core Program Function The Small-Scale Energy Loan Program supports State of Oregon energy policy by providing public, private and tribal stakeholders access to energy project capital. SELP issues Article XI-J general obligation bonds to originate fixed-rate long-term loans for qualified Oregon energy projects that invest in energy conservation, renewable energy, and alternative fuels, or that create products from recycled materials. Over SELP s 35-plus-year history, the program has issued more than 900 loans to recipients across the state. Insufficient access to project capital can be a significant obstacle for energy project developers, and when the program was first developed, capital for energy projects was harder to secure through traditional lenders. While the lending environment today is much more favorable to energy-related projects, SELP routinely receives loan inquiries from a wide range of potential borrowers looking to finance their energy projects, suggesting the loan program continues to have a role in supporting energy project finance in Oregon. Ancillary Functions In addition to operating the program s core lending function, SELP staff also administers the Alternative Fuel Vehicle Revolving Loan Fund, a non-enterprise fund established under ORS to promote fleet adoption of alternative fuels by providing capital for the cost of fleet conversion or the incremental cost of new vehicle purchases.
2 2 ODOE maintains several non-enterprise funds related to energy financing. Two of these, the Clean Energy Deployment Fund (ORS ) and the Jobs, Energy and Schools Fund (ORS ), have active fund balances. These accounts are reconciled by SELP staff and incorporated into the loan program s financial statements; however, the SELP program does not have discretionary use of these funds. SELP staff are asked periodically to provide testimony regarding energy financing to the Oregon Public Utility Commission on cases in which ODOE has elected to intervene. Example: PUC Docket UM 1734; PacifiCorp s request to reduce the qualifying facility contract term and lower the qualifying facility standard contract eligibility cap. The team also staffs the volunteer Small Scale Energy Loan Advisory Committee (SELPAC), which provides input on loans. See next section for more details on SELPAC s role. 2. Describe how the program or function is administered. Include flowcharts, timelines, or other illustrations as necessary to describe agency policies and procedures. Program Staff Deployment SELP staff administer all aspects of loan development, applicant underwriting, loan servicing, portfolio management, accounting and daily program operations. Technical underwriting is conducted in collaboration with relevant agency technical staff as needed. The loan program is supported by the Small Scale Local Energy Project Advisory Committee (SELPAC) subject to ORS The nine appointed committee members represent the interests of Oregon citizens and provide broad subject matter expertise to the program in the areas of energy technology, natural resource development, environmental protection, finance, agriculture, local government operations and utility operations. SELPAC is responsible under statute for consulting with the department on the establishment of the standards and criteria for projects to be funded by the loan program as well as making recommendations to the agency director whether program applicants meet the established standards and criteria thus meriting program financing and in what amount. Fund Management The loan program operates as an enterprise fund and relies on program fees and loan interest to sustain operations. The program operates two major funds to carry on program activities: Small Scale Local Energy Project Loan Fund This fund and its sub-accounts, created by Article XI-J of the Constitution and appropriated to the Department under ORS to hold the proceeds from article XI- J bond sales, is the funding source for program loans. Small Scale Local Energy Project Administration and Bond Sinking Fund This fund, created under ORS , is the source for payment of all loan program expense. This fund and its sub-accounts consist of all program fees and interest earned,
3 program loan receivables, monies transferred from the Small Scale Local Energy Project Loan Fund and any gifts, grants or legislative appropriations. Loan Approval Process Applications to the loan program are initially reviewed and underwritten according to standards promulgated under ORS and the professional judgement and expertise of the SELP loan officers. Technical project review is conducted with the assistance of staff from the ODOE Policy and Innovation Division as warranted. Once the review and underwriting of an application has been completed, the department provides SELPAC with a written summary of the relevant findings and makes a recommendation regarding project funding and proposed loan terms. SELPAC in turn reviews the presented application and makes a recommendation to the agency director regarding financing and loan terms or conditions. The agency director is responsible for making loan approvals. Pursuant to OAR , in the following circumstances SELPAC review is not obtained and loan requests are directly referred to the agency director for approval: (a) Any loan request, other than state agency loan requests, of less than $100,000 (b) State agency loan requests of less than $500,000 (c) Loan assumption requests of less than $100,000 by non-governmental borrowers; and (d) Loan increase requests of less than $25,000 and less than 10 percent of the original approved loan amount where the total loan amount exceeds the limits set for committee review. Loan Funding Process SELP has the capacity to issue taxable and tax-exempt state XI-J general obligations bonds including private activity bonds to fund approved loan requests. The sale of XI-J bonds is facilitated by the State Treasurer through the Debt Management Division and only occurs after a loan has been approved. Because costs associated with issuing debts can be significant, the Debt Management Division typically requires the Department to identify approximately $5 million in approved loans before authorizing a bond sale. Loan amounts less than $5 million can be funded via a bond sale; however, doing so may require combining SELP needs with other state programs in the same sale. This can increase the complexity and cost of a sale and is therefore used infrequently. The loan program has historically used internal cash flow generation to fund smaller loans that are not large enough to merit the sale of bonds. This process involves transferring resources from the Small Scale Local Energy Project Administration and Bond Sinking Fund to the Small Scale Local Energy Project Loan Fund. The transfer of funds from the bond sinking fund to the project loan fund may only occur during periods of sinking fund adequacy as articulated under ORS (3). 3. Provide a summary of key performance measures and other outcomes that convey the effectiveness and efficiency of this function or program. 3
4 4 SELP has made 903 loans to date with the total amount loaned exceeding $612 million. The program has operated autonomously as an enterprise fund since inception in 1979 and is the oldest green financing program in the country. SELP has originated loans for energy projects located in all 36 Oregon counties. To date the program has suffered loan losses of approximately 5.5 percent of total originations, which is higher than insured U.S. commercial banks based on reported federal data. 1 However, using the same data set and excluding the two largest SELP loan losses, the program s percent of loan losses to loan originations becomes more favorable when compared to insured U.S. commercial banks on average, with a rate of 0.88 compared to 0.95 over the period surveyed. 4. Describe any important history regarding this program, including how the services or functions have changed from the original intent. Describe problems or lawsuits that have been encountered in this program. SELP was established by the Oregon State Legislature in 1979 under ORS Chapter 470 with a legislatively referred constitutional amendment passing in 1980 to authorize the issuance of state Article XI-J bonds for small scale local energy projects. The program made its first loan in 1981 and has operated continuously without general fund support since that time. Program Challenges Bond Sinking Fund Deficit SELP currently has a forecasted deficit in the Small Scale Local Energy Project Administration and Bond Sinking Fund. The cumulative forecasted deficit is currently $15.6 million through 2034 with the first bond sinking fund shortfall projected to occur April, A projected deficit in the bond sinking fund was first recognized in December 2008 and has been reported since that time on SELP financial statements, official bond sale summaries and in the program s biennial reports to the legislature. The sinking fund deficit is the result of $30.7 million in loan losses sustained on loans the department originated between the years 2007 and Of the $30.7 million in losses suffered, over $28 million is attributable to losses from two loans: Cascade Grain Products, LLC ($18.1M) and Peak Sun Materials Corporation ($10.2M). These two losses represent 84 percent of program loan losses to date. Lack of Program Funding In order to eliminate the bond sinking fund deficit without an infusion of outside capital, SELP must generate significant new loan volume every year going forward. A 2013 JP Morgan analysis of the SELP loan portfolio calculated new loan originations of $14.6 million would be needed annually over the lifetime of the loan portfolio to eliminate the bond sinking fund deficit. Historically, the loan program funded smaller dollar loans out of internal cash as many loan requests are not large enough to warrant a bond sale. Under the statutory organization of the program accessing program cash is accomplished through a transfer out of the bond sinking fund. Such transfers are permitted only when there is adequate forecasted 1 Federal Financial Institutions Examination Council (US), Total Net Loan Charge-offs to Total Loans for Banks [NCOTOT], retrieved from FRED, Federal Reserve Bank of St. Louis May 9, 2016.
5 cash flow in the bond sinking fund to meet all debt obligations. As the program has operated with a persistent projected sinking fund deficit for many years, no cash can be transferred from the bond sinking fund leaving SELP unable to fund new loans through internal revenue generation. In December, 2015 SELP staff was notified by the Debt Management Division that the Treasury Department would not facilitate additional SELP lending, eliminating any potential bond funding for energy projects or access to additional capital resources. Consequently, the loan program is currently unable to originate new loans and thus unable to meaningfully contribute to reducing the bond sinking fund deficit. The loan program has a number of projects in the loan pipeline that are currently unable to be fully funded: a municipal district heating project in Harney County, an alternative-fuel vehicle project in Klamath County and a university central plant upgrade project in Jackson County. Unfavorable Interest Rate Environment Like any loan program, SELP is subject to market forces that impact the cost of capital. In 1980, the prime lending rate was percent. In 1980, the prime rate ended the year at percent, and SELP originated loans at an average rate of 10.9 percent. From 2008 to 2015, prime rate was unchanged at 3.25 percent; currently prime is 3.50 percent, and SELP originated loans in 2015 at an average rate of 4.38 percent with half of the loan originations receiving an interest rate subsidy under the High Performance Schools Pilot program. In the current interest rate environment, SELP loans no longer represent low-cost funds, particularly for the type of low-risk projects the program is targeting, and SELP will likely experience limited loan portfolio growth if potential borrowers have access to reasonable commercial financing terms. 5. Describe who or what this program or function affects. SELP serves all areas of the state and all private, public and tribal entities developing eligible energy projects in Oregon. 6. If the program or function works with local, regional, other state agencies, or federal agencies, include a brief description of these entities and their relationship to the ODOE program or function. Please identify the roles assigned to each agency. As a program with significant granted bonding authority, SELP works closely with the Oregon Department of Treasury s Debt Management Division to issue the general obligation bonds that fund approved energy loans. The Treasury Department is responsible for directly obligating the state under the terms of a bond issuance thus the bond funding of prospective SELP loans is subject to that agency s approval. The loan program has historically served as a significant funding source for local irrigation district s small-scale hydro-power projects as well as originating over $150 million in loans to state universities for eligible energy projects. 5
6 7. Explain if, and why, each of the key functions is most appropriately placed within ODOE, and how duplication with other related agencies is avoided. The origination of energy loans requires business development within the Oregon energy sector as well as the underwriting of potentially complex energy projects. Staff from ODOE s Policy and Innovation Division assist SELP in understanding specific energy technologies and by facilitating access to potential borrowers. It is unlikely the loan program could obtain similar technical and business development assistance at other agencies. The combination of ODOE technical expertise, energy incentive programs, and SELP financing under collaborative agency leadership provides an efficient and comprehensive synergy of services supporting energy project developers and allows for coordinated and effective stakeholder outreach and business development. 6
Biennial Report. State of Oregon Department of Energy. Small Scale Energy Loan Program
Biennial Report State of Oregon Department of Energy Small Scale Energy Loan Program Finances: July 1, 2008 through June 30, 2010 Loan Activity: Through December 31, 2010 Prepared for Governor Kitzhaber
More information79th OREGON LEGISLATIVE ASSEMBLY Regular Session. House Bill 2756 SUMMARY
th OREGON LEGISLATIVE ASSEMBLY--0 Regular Session Sponsored by Representative HOLVEY, Senator BEYER House Bill SUMMARY The following summary is not prepared by the sponsors of the measure and is not a
More informationHouse Revenue Committee
2017 State Debt Policy Advisory Commission Report Office of the State Treasurer Debt Management Division February 28, 2017 SDPAC Legislative Update Introduction Purposes of Report 1. Annual Capacity Forecast
More informationDepartment of Energy Small Scale Energy Loan Program
Enterprise Fund of the State of Oregon Department of Energy Small Scale Energy Loan Program For the Fiscal Years Ended June 30, 2013 and June 30, 2012 Michael Kaplan Acting Director TABLE OF CONTENTS Page
More informationMARYLAND CLEAN ENERGY CENTER FINANCIAL STATEMENTS JUNE 30, 2017
MARYLAND CLEAN ENERGY CENTER FINANCIAL STATEMENTS JUNE 30, 2017 TABLE OF CONTENTS Page Management s discussion and analysis 1-5 Independent auditor s report 6-7 Financial statements Statement of net position
More informationOptions for Raising Capital (and Leveraging Public Funds) for Residential Energy Loan Programs 1 1/25/2011 UNC Environmental Finance Center
Options for Raising (and Leveraging Public Funds) for Residential Energy Loan s 1 1/25/2011 UNC Environmental Finance Center As of January 2011, the USDOE supported Database of State Incentives for Renewables
More informationConnecticut Green Bank Organization Fact Sheet
Connecticut Green Bank Organization Fact Sheet CGC has analyzed the audited financial statements of the Connecticut Green Bank to provide insight into the organization s financial practices. This analysis
More informationREPORT OF INDEPENDENT AUDITORS AND FINANCIAL STATEMENTS ENERGY TRUST OF OREGON, INC.
REPORT OF INDEPENDENT AUDITORS AND FINANCIAL STATEMENTS ENERGY TRUST OF OREGON, INC. December 31, 2017 and 2016 Table of Contents Report of Independent Auditors 1 2 Management s Discussion and Analysis
More informationSection moves to amend H.F. No as follows: 1.2 Delete everything after the enacting clause and insert:
1.1... moves to amend H.F. No. 3120 as follows: 1.2 Delete everything after the enacting clause and insert: 1.3 "Section 1. Minnesota Statutes 2016, section 103B.101, subdivision 9, is amended to read:
More informationNEW JERSEY CLEAN WATER AND DRINKING WATER STATE REVOLVING FUND PROGRAM
NEW JERSEY CLEAN WATER AND DRINKING WATER STATE REVOLVING FUND PROGRAM Report of Audit For the Years Ended June 30, 2015 and 2014 NEW JERSEY CLEAN WATER AND DRINKING WATER STATE REVOLVING FUND PROGRAM
More informationX. TIMELINE AND BUDGET ESTIMATES FOR IMPLEMENTATION
X. TIMELINE AND BUDGET ESTIMATES FOR IMPLEMENTATION This chapter focuses on the cost of wolf conservation and management in Oregon and suggests several potential funding sources. A secure funding source
More informationDepartment of Energy Small Scale Energy Loan Program
Enterprise Fund of the State of Oregon Department of Energy Small Scale Energy Loan Program For the Fiscal Years Ended June 30, 2011 and June 30, 2010 Bob Repine Acting Director TABLE OF CONTENTS Page
More informationExecutive Summary: DEQ Non-Limited Budget
Executive Summary: DEQ Non-Limited Budget Primary Outcome Area: Secondary Outcome Area: Program Contact: Jobs and Innovation Healthy Environment Dick Pedersen, DEQ director Ten-Year Plan 200 Non-Limited
More informationENTERED 12/13/07 BEFORE THE PUBLIC UTILITY COMMISSION OF OREGON UM 1261 ) ) ) ) ) ) ) DISPOSITION: STIPULATION ADOPTED
ORDER NO. 07-555 ENTERED 12/13/07 BEFORE THE PUBLIC UTILITY COMMISSION OF OREGON UM 1261 In the Matter of IDAHO POWER COMPANY Authorization to Defer for Future Rate Recovery Certain Excess Net Power Supply
More informationOREGON TRANSPORTATION INFRASTRUCTURE BANK
OREGON TRANSPORTATION INFRASTRUCTURE BANK ANNUAL REPORT Submitted to: Federal Highway Administration and Federal Transit Administration Submitted by: Oregon Department of Transportation December, 2007
More informationMARYLAND CLEAN ENERGY CENTER Rockville, Maryland. Financial Statements Together with Reports of Independent Public Accountants
MARYLAND CLEAN ENERGY CENTER Rockville, Maryland Financial Statements Together with Reports of Independent Public Accountants For the Years Ended June 30, 2011 and 2010 TABLE OF CONTENTS PAGE REPORT OF
More informationOregon John A. Kitzhaber, MD, Governor
Oregon John A. Kitzhaber, MD, Governor Public Utility Commission 0 Capitol St NE, Suite Mailing Address: PO Box Salem, OR 0- Consumer Services -00--0 Local: (0) -00 Administrative Services (0) - March,
More informationMunicipal Financial Recovery Act. Recovery Plan. City of Harrisburg
Municipal Financial Recovery Act Recovery Plan City of Harrisburg Prepared on behalf of the Commonwealth of Pennsylvania Department of Community and Economic Development Governor s Center for Local Government
More informationOregon Business Development Department (OBDD)
Oregon Business Development Department (OBDD) 2013-15 Actual 2015-17 Legislatively Approved* General Fund 8,247,488 16,519,023 48,336,099 60,473,239 Lottery Funds 111,766,523 113,307,730 117,298,708 110,523,470
More informationLOCAL REVENUE SOURCES
Statement of Purpose Scope Objective Type of Authorized Debt Unlimited Tax Bonds Maintenance Tax Notes and Tax Anticipation Notes The purpose of the District s debt management policy is to establish and
More informationMICHAEL BERTHELSEN, M.A.
MICHAEL BERTHELSEN, M.A. SUMMARY As a senior executive for the University of Minnesota, Michael leads the University Services divisions. His business approach includes focusing on strategy, improving customer
More informationFINANCIAL POLICIES Originally Adopted by the City Council on September 15, 2014 Revised on May 2, 2016
FINANCIAL POLICIES Originally Adopted by the City Council on September 15, 2014 Revised on May 2, 2016 OPERATING BUDGET The objective of the operating budget policy is to ensure the appropriate levels
More informationFederal financing options for on-bill financing energy efficiency programs
Federal financing options for on-bill financing energy efficiency programs This document provides an overview of existing and pending federal programs that are available to eligible rural electricity providers
More informationBEFORE THE PUBLIC UTILITY COMMISSION OF OREGON
ORDER NO. ENTERED JUN 2 6 2D12 BEFORE THE PUBLIC UTILITY COMMISSION OF OREGON UE239 In the Matter of IDAHO POWER COMPANY Application for Authority to Implement a Boardman Operating Life Adjustment Tariff
More informationMASTER GRANT AGREEMENT Exhibit A, Program Element 12 Low Income Home Energy Assistance Program
2013-2014 MASTER GRANT AGREEMENT Exhibit A, Program Element 12 Low Income Home Energy Assistance Program 1. Description. The Low-Income Home Energy Assistance Program (LIHEAP) is intended to assist low-income
More informationMARYLAND DEPARTMENT OF THE ENVIRONMENT FISCAL ANALYSIS PROJECT UPDATE
MARYLAND DEPARTMENT OF THE ENVIRONMENT FISCAL ANALYSIS PROJECT UPDATE JANUARY 2009 Martin O Malley Governor Anthony G. Brown Lieutenant Governor Shari T. Wilson Secretary Robert M. Summers, Ph.D. Deputy
More informationARTICLE 24. SECTION 1. Sections and of the General Laws in Chapter 24-18
======= art.0/1 ======= 1 ARTICLE 1 1 1 0 1 0 SECTION 1. Sections -1- and -1- of the General Laws in Chapter -1 entitled Municipal Road and Bridge Revolving Fund are hereby amended to read as follows:
More informationDEPARTMENT OF THE TREASURY STRATEGIC PLAN FY THROUGH
DEPARTMENT OF THE TREASURY STRATEGIC PLAN FY 2017-18 THROUGH 2021-22 Page 1 TABLE OF CONTENTS Please note that the page numbers here reflect the actual printed number at the bottom of the page, not the
More informationFY and FY Draft Budget Operations Committee January 24, 2017
FY 2017-18 and FY 2018-19 Draft Budget Operations Committee January 24, 2017 FY 2017-18 and FY 2018-19 Draft Budget Operations Committee January 24, 2017 Mayor s Budget Instructions The Mayor s Budget
More informationPolicies and Guidelines
Loan Repayment Assistance Program Policies and Guidelines Adopted by the Board of Governors November 18, 2006 Revised February 13, 2015 The mission of the Oregon State Bar s Loan Repayment Assistance Program
More informationDepartment of Energy Small Scale Energy Loan Program
Enterprise Fund of the State of Oregon Department of Energy Small Scale Energy Loan Program For the Fiscal Years Ended June 30, 2010 and June 30, 2009 Bob Repine Acting Director TABLE OF CONTENTS Page
More informationEXHIBIT INFORMATION Financial Statements OFFERING
EXHIBIT INFORMATION Financial Statements OFFERING Consolidated Financial Statements (with Independent Auditors Report) TABLE OF CONTENTS Independent Auditors Report... 1-2 Consolidated Financial Statements:
More informationUGI Utilities, Inc. Gas Division And UGI Penn Natural Gas, Inc. Universal Service Program. Final Evaluation Report
UGI Utilities, Inc. Gas Division And UGI Penn Natural Gas, Inc. Universal Service Program Final Evaluation Report July 2012 Table of Contents Table of Contents Executive Summary... i Evaluation Questions
More informationUCF STADIUM CORPORATION (A COMPONENT UNIT OF THE UNIVERSITY OF CENTRAL FLORIDA) FINANCIAL STATEMENTS JUNE 30, 2017 AND 2016
(A COMPONENT UNIT OF THE UNIVERSITY OF CENTRAL FLORIDA) FINANCIAL STATEMENTS TABLE OF CONTENTS Page Number(s) Independent Auditors Report 1 2 Required Supplementary Information Management s Discussion
More informationEnergy Improvement Corporation
Financial Statements December 31, 2014 Table of Contents Page No. Independent Auditors Report 1 Management s Discussion and Analysis 3 Statement of Net Position 8 Statement of Activities 9 Statement of
More informationGREENE COUNTY. Financial Statements and Required Reports Under OMB Circular A-133 as of December 31, 2011 Together with Independent Auditors' Report
GREENE COUNTY Financial Statements and Required Reports Under OMB Circular A-133 as of December 31, 2011 Together with Independent Auditors' Report C O N T E N T S INDEPENDENT AUDITORS REPORT.. 1-2 MANAGEMENT'S
More informationBranch Buildings and Landscape Services
Introduction The 2011 Corporate reorganization consolidated the Buildings Design and Construction, Buildings and Facilities Maintenance, and Parks Design and Construction Sections into an integrated Buildings
More informationAct No. 199 (S.220).
Act No. 199 (S.220). Economic development; commerce; banking; land use; education; workers compensation An act relating to furthering economic development Sec. 1: One-Stop Shop Web Portal Sec. 1 directs
More informationRequest for Qualifications for Selling Group Members
Request for Qualifications for Selling Group Members TABLE OF CONTENTS ISSUER OVERVIEW... 3 DIRECTORS & OFFICERS... 3 HISTORY... 3 WHO WE SERVE... 4 BACKGROUND... 5 SCOPE OF SERVICES... 5 EVALUATION...
More informationConnecticut Energy Efficiency Board. Request for Proposal (RFP) Technical Consultants to the Energy Efficiency Board
Connecticut Energy Efficiency Board Request for Proposal (RFP) Technical Consultants to the Energy Efficiency Board April 22, 2019 Overview The State of Connecticut Energy Efficiency Board (EEB) is seeking
More informationAt a Glance. General. Fund
This document is made available electronically by the Minnesota Legislative Reference Library as part of an ongoing digital archiving project. http://www.leg.state.mn.us/lrl/lrl.asp Background Agency Purpose
More informationTEXAS ECONOMIC DEVELOPMENT BANK REPORT FY 2015 ANNUAL REPORT
TEXAS ECONOMIC DEVELOPMENT BANK REPORT FY 2015 ANNUAL REPORT TEXAS ECONOMIC DEVELOPMENT BANK ECONOMIC DEVELOPMENT & TOURISM DIVISION OFFICE OF THE GOVERNOR SEPTEMBER 1, 2014 TO AUGUST 31, 2015 1 Overview
More informationU.S. Department of Housing and Urban Development Community Planning and Development
U.S. Department of Housing and Urban Development Community Planning and Development Special Attention of: Notice CPD 96-9 All Secretary's Representatives All State/Area Coordinators Issued: December 20,
More informationMemorandum. Background. March 1, 2018
Memorandum March 1, 2018 TO: THRU: FROM: SUBJ: Chris Cummings, Assistant Director, Economic Development Ed Tabor, Programs & Incentives Manager Shanna Bailey, Regional Project Manager Dennis Knight, Finance
More informationAUDITED FINANCIAL STATEMENTS
AUDITED FINANCIAL STATEMENTS For the years ended June 30, 2010 and 2009 Audited Financial Statements WEST VIRGINIA HOUSING DEVELOPMENT FUND For the Years Ended June 30, 2010 and 2009 Audited Financial
More informationGov's Planning Estimates Project Title Rank Fund Project Requests for State Funds
This document is made available electronically by the Minnesota Legislative Reference Library as part of an ongoing digital archiving project. http://www.leg.state.mn.us/lrl/lrl.asp Water and Soil Resources
More informationEnvironmental Improvement Fund
Informational Paper 64 Environmental Improvement Fund Wisconsin Legislative Fiscal Bureau January, 2009 Environmental Improvement Fund Prepared by Kendra Bonderud Wisconsin Legislative Fiscal Bureau One
More informationREQUEST FOR PROPOSALS
REQUEST FOR PROPOSALS Program Administration for PACE Wisconsin A Property Assessed Clean Energy (PACE) Program Purpose PACE Wisconsin is issuing this Request for Proposals (RFP) to solicit proposals from
More informationUCF STADIUM CORPORATION (A COMPONENT UNIT OF THE UNIVERSITY OF CENTRAL FLORIDA) FINANCIAL STATEMENTS JUNE 30, 2018 AND 2017
(A COMPONENT UNIT OF THE UNIVERSITY OF CENTRAL FLORIDA) FINANCIAL STATEMENTS TABLE OF CONTENTS Page Number(s) Independent Auditor s Report 1 2 Required Supplementary Information Management s Discussion
More informationITEM NO. 7. PUBLIC UTILITY COMMISSION OF OREGON STAFF REPORT PUBLIC MEETING DATE: May 20, 2008
PUBLIC UTILITY COMMISSION OF OREGON STAFF REPORT PUBLIC MEETING DATE: May 20, 2008 ITEM NO. 7 REGULAR X CONSENT EFFECTIVE DATE N/A DATE: May 1, 2008 TO: FROM: Public Utility Commission Lynn Kittilson THROUGH:
More informationPacifiCorp d/b/a Pacific Power encloses for filing in this docket the following documents:
September 10, 2018 VIA ELECTRONIC FILING Public Utility Commission of Oregon 201 High Street SE, Suite 100 Salem, OR 97301-3398 Attn: Filing Center RE: UE 344 Stipulation and Joint Testimony PacifiCorp
More informationDEPARTMENT OF ENERGY Small Scale Energy Loan Program
Secretary of State State of Oregon DEPARTMENT OF ENERGY Small Scale Energy Loan Program For the Fiscal Years Ended June 30, 2004 and 2003 Audits Division Secretary of State State of Oregon DEPARTMENT
More informationCARLISLE LOCAL SCHOOL DISTRICT WARREN COUNTY TABLE OF CONTENTS. Independent Accountants Report Management s Discussion and Analysis...
WARREN COUNTY TABLE OF CONTENTS TITLE PAGE Independent Accountants Report... 1 Management s Discussion and Analysis... 3 Basic Financial Statements: Government-Wide Financial Statements: Statement of Net
More informationQualified Energy Conservation Bonds ( QECBs ) & New Clean Renewable Energy Bonds ( New CREBs )
Qualified Energy Conservation Bonds ( QECBs ) & New Clean Renewable Energy Bonds ( New CREBs ) DISCLAIMER: The information in this presentation is for informational purposes only and does not represent
More informationFOREST PRESERVE DISTRICT OF DuPAGE COUNTY, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOREST PRESERVE DISTRICT OF DuPAGE COUNTY, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2015 FOREST PRESERVE DISTRICT OF DUPAGE COUNTY, ILLINOIS COMPREHENSIVE ANNUAL
More informationCONNECTICUT INNOVATIONS, INCORPORATED (A Component Unit of the State of Connecticut) Financial Statements
CONNECTICUT INNOVATIONS, INCORPORATED (A Component Unit of the State of Connecticut) Financial Statements Fiscal Year Ended June 30, 2017 CONNECTICUT INNOVATIONS, INCORPORATED Table of Contents June 30,
More informationCITY OF BOISE FINANCIAL SYSTEM OVERVIEW
Boise City operates under the Mayor-Council system. The Mayor (full-time) and six Council members (part-time) are elected to four-year terms. Three Council members are elected every two years to overlap
More informationTax Computation Manual
Tax Computation Manual 2010 Published by Property Tax Division 150-800-438 (Rev. 10-10) Table of Contents Introduction...ii Key Dates...iii Property Tax Computation Flowchart...iv Chapter 1 Certification
More informationDebt Management Policy Code No
Page 1 of 5 DEBT LIMITS Credit Ratings The school district seeks to maintain the highest possible credit ratings for all categories of short- and long-term debt that can be achieved without compromising
More informationTROY CITY SCHOOL DISTRICT MIAMI COUNTY JUNE 30, 2018 TABLE OF CONTENTS. Independent Auditor s Report Management s Discussion and Analysis...
TITLE MIAMI COUNTY JUNE 30, 2018 TABLE OF CONTENTS PAGE Independent Auditor s Report... 1 Prepared by Management: Management s Discussion and Analysis... 5 Basic Financial Statements: Government-wide Financial
More informationOMB. Uniform Guidance
2014 OMB Uniform Guidance Assessing the OMB Uniform Guidance: Major Changes and Impacts The Office of Management and Budget (OMB) consolidated the federal government s guidance on Uniform Administrative
More informationBUSINESS SERVICES MISSION STATEMENT
City of San Mateo BUSINESS SERVICES MISSION STATEMENT To provide the City with sound fiscal management and facilitate the operation of all City departments by providing appropriate financial data and support
More informationBOARD OF EDUCATION OF THE BOROUGH OF HI-NELLA SCHOOL DISTRICT
BOARD OF EDUCATION OF THE BOROUGH OF HI-NELLA SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2017 22600 BOROUGH OF HI-NELLA SCHOOL DISTRICT Table of Contents INTRODUCTORY
More informationCOMMUNICATION & INFORMATION SERVICES DATA
COMMUNICATION & INFORMATION SERVICES DATA MISSION The mission of the Department of Communication and Information Services (CIS) is to provide information technology (IT) solutions and services that enable
More informationPortland General Electric
Portland General Electric Earnings Conference Call Fourth Quarter and Full Year 2016 Cautionary Statement Information Current as of February 17, 2017 Except as expressly noted, the information in this
More informationResolution No. Date: 12/7/2010
Resolution No. Date: 12/7/2010 Resolution Of The Board Of Supervisors Of The County Of Sonoma, State Of California, Authorizing The Issuance And Sale Of Bonds Of Sonoma Valley Unified School District,
More informationSUBCHAPTER 01H - PRIVATE ACTIVITY BOND VOLUME CAPACITY PROGRAM SECTION GENERAL DESCRIPTION
SUBCHAPTER 01H - PRIVATE ACTIVITY BOND VOLUME CAPACITY PROGRAM SECTION.0100 - GENERAL DESCRIPTION 04 NCAC 01H.0101 BACKGROUND The rules of this Subchapter apply to the administration of the Private Activity
More informationPortland General Electric
Portland General Electric Earnings Conference Call First Quarter 2017 Cautionary Statement Information Current as of April 27, 2017 Except as expressly noted, the information in this presentation is current
More information2019 TSCC Local Budget Law Training
2019 TSCC Local Budget Law Training Handouts to Accompany Power Point Presentation January 22 and 31, 2019 Tax Supervising & Conservation Commission Handout 1 Renumbered Administrative Rules OLD NEW ISSUE
More informationOREGON STANDARD AVOIDED COST RATES AVOIDED COST PURCHASES FROM ELIGIBLE QUALIFYING FACILITIES Page 1
S ELIGIBLE QUALIFYING FACILITIES Page 1 Available To owners of Qualifying Facilities making sales of electricity to the Company in the State of Oregon. Applicable For power purchased from Base Load and
More informationen e r g y fu t u r e
PreParing for ConneCtiCut s en e r g y fu t u r e december 2008 A Re p o R t By th e Co n n e C t i C u t ACAdemy of SCienCe And engineering fo R ConneCtiCut general ASSemBly energy And technology Committee
More informationLocal Budgeting Manual
Local Budgeting Manual Financial Plan O R E G O N DEPARTMENT OF REVENUE 150-504-420 (Rev. 2-02) Property Tax Division Table of Contents Introduction... 1 Chapter 1 The Budget Process: Who s Involved?...3
More informationCITY OF LAWSON, MISSOURI BASIC FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT JUNE 30, 2016
BASIC FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT TABLE OF CONTENTS Page INDEPENDENT AUDITOR S REPORT 1-3 FINANCIAL STATEMENTS Statement of Net Position 4 Statement of Activities 5 Balance Sheet
More informationDEPARTMENT OF ENERGY Small Scale Energy Loan Program
Secretary of State State of Oregon DEPARTMENT OF ENERGY Small Scale Energy Loan Program For the Fiscal Years Ended June 30, 2005 and 2004 Audits Division Secretary of State State of Oregon DEPARTMENT
More information% Change. Agency 58a 2/2/2013
Section 1 Debt Service Payments - Non-Self Supporting G.O. Water Bonds Summary of Recommendations - House Page VI-66 Method of Financing 2012-13 Base 2014-15 Recommended Tina Beck, LBB Analyst Biennial
More informationALASKA S DEVELOPMENT FINANCE AUTHORITY
Infrastructure Development Project Development AIDEA Programs Energy Development Commercial Finance Specialty Financing Conduit Bonds ALASKA S DEVELOPMENT FINANCE AUTHORITY Energy Development Presentation
More informationManagement Compensation Framework
Reference Job #6 Manager, Highway Design & Traffic Engineering MINISTRY Transportation MANAGEMENT ROLE: 2 DIVISION: Highway Operations ROLE PROFILE A BRANCH: Engineering Services, South Coast Region POSITION
More informationCitizens Property Insurance Corporation. Financial Statements. December 31, 2014 and 2013
Financial Statements December 31, 2014 and 2013 Table of Contents December 31, 2014 and 2013 Independent Auditors Report 1 2 Management s Discussion and Analysis 3 11 Financial Statements Statements of
More informationSAN JOAQUIN DELTA COMMUNITY COLLEGE DISTRICT COUNTY OF SAN JOAQUIN STOCKTON, CALIFORNIA FINANCIAL STATEMENTS WITH SUPPLEMENTAL INFORMATION
COUNTY OF SAN JOAQUIN STOCKTON, CALIFORNIA FINANCIAL STATEMENTS WITH SUPPLEMENTAL INFORMATION FOR THE YEAR ENDED JUNE 30, 2010 AND INDEPENDENT AUDITOR'S REPORT FINANCIAL STATEMENTS WITH SUPPLEMENTAL INFORMATION
More informationENTERPRISE FLORIDA, INC. AND CONSOLIDATED ENTITIES (A COMPONENT UNIT OF THE STATE OF FLORIDA)
ENTERPRISE FLORIDA, INC. AND CONSOLIDATED ENTITIES (A COMPONENT UNIT OF THE STATE OF FLORIDA) CONSOLIDATED FINANCIAL STATEMENTS For the Year Ended June 30, 2017 And Report of Independent Auditor TABLE
More informationPacifiCorp d/b/a Pacific Power encloses for filing its Reply Comments in the above-referenced docket.
November 13, 2017 VIA ELECTRONIC FILING Public Utility Commission of Oregon 201 High Street SE, Suite 100 Salem, OR 97301-3398 Attn: Filing Center RE: UM 1846 PacifiCorp s Reply Comments PacifiCorp d/b/a
More informationBEFORE THE PUBLIC UTILITY COMMISSION OF OREGON UM 1953 I. INTRODUCTION
BEFORE THE PUBLIC UTILITY COMMISSION OF OREGON UM 1953 In the Matter of PORTLAND GENERAL ELECTRIC COMPANY, STAFF'S OPENING BRIEF Investigation into Proposed Green Tariff. I. INTRODUCTION Pursuant to Administrative
More informationUpper Eagle Regional Water Authority Vail, Colorado. Financial Statements December 31, 2011 and 2010
Vail, Colorado Financial Statements December 31, 2011 and 2010 Financial Statements December 31, 2011 and 2010 Table of Contents Page INDEPENDENT AUDITOR'S REPORT Management s Discussion and Analysis A1
More informationNorthridge Local School District Licking County, Ohio General Purpose External Financial Statements For the Fiscal Year Ended June 30, 2016
Licking County, Ohio General Purpose External Financial Statements Local Government Services Section , Ohio General Purpose External Financial Statements Table of Contents Table of Contents... 1 Accountant's
More informationVermont Energy Investment Corporation and Subsidiary
Consolidated Audited Financial Statements, Other Financial Information, and Uniform Guidance Supplemental Reports Years Ended December 31, 2016 and 2015 with Report of Independent Auditors Consolidated
More informationPLATTENBURG Certified Public Accountants
NORWOOD CITY SCHOOL DISTRICT Basic Financial Statements June 30, 2015 PLATTENBURG Certified Public Accountants Board of Education Norwood City School District 2132 Williams Avenue Norwood, Ohio 45212
More informationThe Data Disconnect Experiences in Secondary Markets Securitization ACEEE Energy Finance Forum 5/14/2013
The Data Disconnect Experiences in Secondary Markets Securitization ACEEE Energy Finance Forum 5/14/2013 Jeff Pitkin, Treasurer New York State Energy Research and Development Authority Background Green
More informationToronto Atmospheric Fund
OPERATING BUDGET NOTES CONTENTS Overview 1. 2018-2020 Service Overview and Plan 5 2. 2018 Preliminary Operating Budget by Service N/A 3. Issues for Discussion 10 Toronto Atmospheric Fund 2018 OPERATING
More informationROGUE VALLEY COUNCIL OF GOVERNMENTS STATE OF OREGON PROPOSED OPERATING BUDGET. PRESENTED TO THE BUDGET COMMITTEE April 24, 2019
STATE OF OREGON 2019-2020 PROPOSED OPERATING BUDGET PRESENTED TO THE BUDGET COMMITTEE April 24, 2019 2019-2020 PROPOSED OPERATING BUDGET TABLE OF CONTENTS Rogue Valley Council of Governments Overview 3
More informationBoard Policy on Debt Management Board of Trustees of Oregon Institute of Technology
Board Policy on Debt Management Board of Trustees of Oregon Institute of Technology 1.0 Authority of the Board of Trustees 1.1 Under ORS 352.107, Oregon Institute of Technology is authorized to borrow
More informationFor help accessing information in this document, please contact 311.
For help accessing information in this document, please contact 311. City of Toronto Service Efficiency Study Program: Cross-Corporate Organizational Review Environmental & Energy Efficiency Incentives
More informationCTF-SCF/TFC.4/Inf.2 March 13, Joint Meeting of the CTF and SCF Trust Fund Committees Manila, Philippines March 16, 2010
CTF-SCF/TFC.4/Inf.2 March 13, 2010 Joint Meeting of the CTF and SCF Trust Fund Committees Manila, Philippines March 16, 2010 BENCHMARKING CIF'S ADMINISTRATIVE COSTS 2 Background 1. The Joint Trust Fund
More informationKANSAS PARTNERSHIP FUND GUIDE
KANSAS PARTNERSHIP FUND GUIDE PROGRAM DESCRIPTION and APPLICATION FORMAT Direct applications to: Secretary of Commerce Direct inquiries to: Program Administrator Kansas Partnership Fund KANSAS DEPARTMENT
More informationWater Trust Board. The Water Trust Board was also. tasked, in collaboration with the Office of the State Engineer and the
Water Matters! Water Trust Board 23-1 Water Trust Board The creation of a Water Trust Fund and Board in New Mexico is in no small part due to the early planning and fact finding efforts on [the Ute pipeline]
More informationNo. 45. An act relating to renewable energy and energy efficiency. (H.446) It is hereby enacted by the General Assembly of the State of Vermont:
No. 45. An act relating to renewable energy and energy efficiency. (H.446) It is hereby enacted by the General Assembly of the State of Vermont: Sec. 1. DESIGNATION OF ACT This act shall be referred to
More informationZONE 7 WATER AGENCY POLICY AND PROCEDURE
ZONE 7 WATER AGENCY POLICY AND PROCEDURE POLICY TITLE: DEBT POLICY NUMBER: Z7AF-142-17 PAGE: 1 of 11 APPROVED BY: BOARD OF DIRECTORS REVISION: EFFECTIVE DATE: JUNE 21, 2017 1. STATEMENT OF CAPITAL FINANCING
More informationThe Regional Municipality of York. Reserve and Reserve Fund Policy
Status: Final Approved By: Council The Regional Municipality of York Reserve and Reserve Fund Policy Policy No.: 7041135 Original Approval Date: October 19, 2006 Policy Last Updated: Policy Statement:
More informationEnergy Savings Performance Contracting Program Process Description
Energy Savings Performance Contracting Program Process Description I. Program History The Energy Savings Performance Contracting (ESPC) program was developed to provide a means to install energy conservation
More informationGASB 77 Background. GASB 77 Background. GASB 77 Tax Abatement Disclosures 11/12/2015
GASB 77 Tax Abatement Disclosures Presented by: LGS 1 GASB 77 Background Local governments employ a variety of programs and policies that reduce the taxes an individual or entity otherwise would owe, with
More informationTITLE 39 HEALTH AND SAFETY CHAPTER 81 BASIN ENVIRONMENTAL IMPROVEMENT ACT
TITLE 39 HEALTH AND SAFETY CHAPTER 81 BASIN ENVIRONMENTAL IMPROVEMENT ACT 39-8102. POLICY OF STATE. The Idaho legislature declares that environmental protection and improvement of the Coeur d Alene basin
More information