REGULAR MONTHLY BOARD MEETING AGENDA

Transcription

1 March 18, CALL TO ORDER: 9:00 am 2. PLEDGE OF ALLEGIANCE REGULAR MONTHLY BOARD MEETING AGENDA 3. ROLL CALL/DETERMINATION OF QUORUM 4. APPROVAL OF AGENDA 5. RECOGNITION OF GUESTS 6. BUSINESS WITH MEMBER GUESTS (5 minutes per Guest) a. Information requests by members/outside parties 7. ACTION ITEMS a. Approval of Minutes (minutes are uploaded to the "Extras" folder within Board Book online) b. Approval of February Membership List 3 8. GENERAL MANAGER'S UPDATE - Mr. Joseph Sanchez a. Business Services & Finance - Mr. Ricky Bejarano 1) February 2016 Financials 4 2) Finance Committee Report - Mr. Johnny Jaramillo b. IT RFPs c. SATView Update 9. BOARD REPORTS a. Tri-State Report - Mr. Lucas Cordova 1) Update: Bylaw change proposals b. Statewide (NMRECA) Report - Mr. Charlie Trujillo 10. NEW BUSINESS a. Appointment of NMRECA Directors and Credential of Voting Representative b. BOT Resolution ; Approval of Jicarilla - JMEC Transaction 11. EXECUTIVE SESSION - Mr. John Tapia 12. ADJOURN 2

2 MINUTES REQUIRED APPROVAL DURING MARCH S BOARD MEETING (Minutes are uploaded to the EXTRAS tab in BoardBook.org. Executive Session minutes are handed out to each BOT for review) 01/21/16 Special Board Meeting Executive Session 01/22/16 Executive Board Meeting Executive Session 02/04/16 Executive/Finance Committee Meeting 02/08/16 Special Finance Committee Meeting 02/09/16 Policy Committee Meeting 02/19/16 Special Board Meeting 02/23/16 IT Ad Hoc Committee Meeting 02/23/16 Tree Trimming Ad Hoc Committee Meeting 02/24/16 Executive Committee Meeting 02/25/16 Finance Committee Meeting EXECUTIVE SESSION MINUTES REQUIRING REVIEW TO APPROVE AT APRIL S BOARD MEETING n/a 2

3 NEW MEMBERSHIPS DISTRICTS TOTALS FEBRUARY 2016 DISTRICT 1 9 DISTRICT 2 14 DISTRICT 3 7 DISTRICT 4 43 DISTRICT 5 40 DISTRICT 6 37 TOTAL NEW MEMBERSHIPS 150 REFUNDED MEMBERSHIPS 125 TOTAL MEMBERSHIPS NET NEW MEMBERSHIPS % OF GROWTH 0.00% MONTHLY TOTALS YTD TOTALS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC NET NEW MEMBERSHIPS TOTAL NEW SERVICES TOTAL CONNECTS TOTAL DISCONNECTS TOTAL DISCONNECTS FOR NON-PAY NET NEW CUSTOMERS MONTHLY TOTALS YTD TOTALS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC NET NEW CUSTOMERS TOTAL ACTIVE CUSTOMERS % OF GROWTH 0.00% 0.00% 3

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5 MONTHLY ENERGY REVENUES 2016 ACTUAL VARIANCE TO BUDGET AS% CLASS ACTUAL BUDGET VARIANCE OF BUDGET 2015 ACTUAL RESIDENTIAL 2,374,017 2,470,027 (96,010) -3.89% 2,184,396 SMALL COMMERCIAL 1,438,833 1,555,529 (116,696) -7.50% 1,394,412 LARGE COMMERCIAL 278, ,013 (409,663) % 381,818 LIGHTING 24,545 25,685 (1,140) -4.44% 23,315 PUBLIC AUTHORITIES 60,243 68,533 (8,289) % 57,541 REVENUE FROM SALE OF ELECTRIC ENERGY 4,175,989 4,807,786 (631,798) % 4,041,482 SERVICE CHARGE FEES 9,300 10,000 (700) -7.00% 9,015 FOLLOW-UP NOTICES 23,445 38,000 (14,555) % 34,470 WHEELING 9,723 6,500 3, % 8,988 5 APPLICATION FEES (150) % JOINT POLE USAGE (starts in March) 13,601 20,000 (6,399) % RETURN CHECK FEE % 690 REVENUE FROM OTHER ELECTRIC SERVICES 57,051 75,300 (18,249) % 53,163 OPERATING REVENUE - ACTUAL TO BUDGET 4,233,040 4,883,086 (650,047) % 4,094,645 RATE RIDER - SYSTEM Total 59,259 69,210 (9,951) RATE RIDER - PUEBLO (OHKAY OWINGEH) 27,890 42,799 (14,909) RATE RIDER - PUEBLO (POJOAQUE) 953 1,088 (135) RATE RIDER - PUEBLO (SANTA CLARA) 10,110 10,735 (625) RATE RIDER - PUEBLO (NAMBE) 7,003 6, RATE RIDER - PUEBLO (SAN 1) 7,678 7,803 (125) RATE RIDER REVENUE 112, ,195 (25,302) 96,711 18,760 10, ,850 3, , joperating REVENUE PLUS RATE RIDER REVENUE 4,345,933 5,021,281 (675,348) % 4,240,849

6 6,000,000 ELECTRIC REVENUE 5,203,629 5,000,000 4,668,522 '> 4,679,794 4,000,000 4,041,482 3,808,048 3,929,102 3,681,598 3,389,899 3,781,316 3,550,047 3,468,885 3,000, Budget 2016 Actuals 2015 Actuals 2,000,000 1,000,000 Feb '16 - $4,175,989 Feb '15 - $4,041,482 YTD $8,854,272 YTD $8,486,470 $367,802 increase 2016 v

7 OTHER REVENUE 120, , ,000 95,335 76,245 80,000 75,300 75,300 75,300 75,300» 75,300 TSt^OO 75 73,795 30Q 7D, ' 3 0 0» 70,510 73,154 75^3C 82,378 75,300 75, ,000 65,25 57,051 50,516 53,163 54,180 53,234 40, YTD-$122, YTD-$103,679 $18,628 increase 2016 vs , Budget 2016 Actual 2015 Actuals Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec

8 $500,000 KINDER MORGAN 2015 and 2016 REVENUE $450,000 $400,000 $451,196 A $350,000 8 $300,000 $250,000 $200,000 \ / \ $266,598^^-*^ / \69i91 $287,8^8 / \ $25^529^^4^^ / 4 \ $226,227 / \ > ^ ^$233^ At $185,785 J $2^58 / l< 2016 Actual $150,000 $100,000 $50,000 W07F; 2016 Feb-$226,227 TilRFrh <1fi7fi/n $43,448 decrease in revenue in 2016 vs $0

9 6 ; 000,000 ENERGY ACCOUNTS RECEIVABLE ,000,000 4,000, ,000, Actual 2015 Actual 2014 Actual 2,000, ,000,000

10 ACCOUNTS RECEIVABLE AGEINS TOTAL = $4,575,643 FUTURES CURRENT DAYS 60+ DAYS i i 90+ DAYS

11 OTHER ACCOUNTS RECEIVABLE CURRENT 259,193 PAST DUE 260,384 IN DISPUTE/NEGOTIATIONS 1, ,387 1, CURRENT PAST DUE IN DISPUTE/NEGOTIATIONS

12 25,000 BAD DEBT WRITE-OFF 21,143 20,000 15,000 14, ,000 10,000 10,000 7,664 6,31 5,000 5,247 4, Budget 2016 Actual YTD Total -$11,254 >2015 Actual JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

13 BAD DEBT AS A % OF REVENUE 0.70% T % -I JAN

14 3,500,000 COST OF POWER 2016 Budget 2016 Actual 2015 Actual 2014 Actual 3,000,000 2,500,000 m 1X1 oo _rs_ (N rs o <-( rn I 1 s 5 u t r- H *a ] en u: l 1 I r~ 2,000, ,500, ,000, ,000 o ID Jan

15 FEBRUARY 2016 RATIOS ACTUAL BUDGET VARIANCE TIER on EII OTIER CALCULATION FORM 7 LINE 16 A Interest on Long Term Debt FORM 7 LINE 21 B Operating Margin A + B = C 197, , ,073 C/A YEAR-TO-DATE RATIOS ACTUAL BUDGET VARIANCE REQUIREMENT TIER OTIER RUS ANNUAL MINIMUM REQUIREMENT IS 1.25 RUS ANNUAL MINIMUM REQUIREMENT IS 1.10 Y-T-D OTIER CALCULATION FORM 7 LINE 16 A Interest on Long Term Debt FORM 7 LINE 29 B Margins A+B = C 396, , ,939 C/A 2.19

16 Gash Flow Analysis General Fund February 2016 Beginning Cash Balance 6,378, Customer Cash Collected 3,397, Customer Credit Card Payments 897, Customer Echex Payments 181, Customer ACH Paymemt 577, Transfer from Savings Transfer from JVCU Transfer from Other Accounts CFC Patronage Capital Western United Patronage Capital Misc Cash Received 83, RUS Loan Advance - Total Beginning Balance plus Deposits 11,516, Accounts Payable Disbursements (714,567.78) Transfer to Payroll Acct. (282,295.04) Payroll Taxes Transfer (116,899.08) Gross Receipts Taxes (278,680.42) Tri-State Power Bill Transfer (2,840,251.42) Company Credit Card Payment (54,101.68) Navajo Taxes RUS Quarterly Loan Payment CFC Quarterly Loan Payment Qtr Unemployment Insurance Co-Bank Semi-Annual Loan Payment 401K Contributions/Employee Loan Payment (76,560.00) Returned Checks and Credit Card Pmt. (11,664.95) M&D Refund checks Transfer to Short Term Investments Total Disbursements (4,375,020.37) Balance February ,141, All other Accounts 13,514, TOTAL CASH January ,655, Co-Bank Money Market Fund 42, Community Bank Depository JVCU Depository 942, Wells Fargo Depository CUBA 2,204, WF Payroll Account WF Construction Account 10,361, WF Medical Reimbursement Account 1, Petty Cash Fund 4, ,514,

17 JEMEZ MOUNTAINS ELECTRIC COOPERATIVE.INC. KEY RATIO TREND ANALYSIS Feb-16 Feb-15 CONSUMER STATS Number of Consumers 31,112 31,043 Avg. KWH Useage - Residential Avg. KWH Useage - Small Commercial 3,304 3,527 Avg. KWH Useage - Large Commercial 757,050 1,062,600 Avg. KWH Useage - Public Authority 1,970 2,008 Avg. KWH Useage - Lighting 1,859 1,756 Connects - Espanola Connects - Jemez Springs 8 14 Connects - Cuba Total Connects Disconnects - Espanola Disconnects - Jemez Springs Disconnects - Cuba 7 7 Total Disconnects Consumers Per Employee REVENUE STATS Revenue/KWH Sold $ 0.13 $ 0.13 Revenue Generated per Mile $ 1, $ 1, Purchased Power as a % Revenue 57% 57% Operating Expense as a % of Revenue 23% 20% Margins as a % of Revenue 8% 10% PURCHASED POWER STATS KWH Purchased 33,744,557 39,198,532 KWH Sold 33,856,536 37,240,667 Own Use 103, ,541 Line Loss (215,698) 1,838,324 Percent Loss -1% 5% Cost/KWH Purchased $ 0.08 $ 0.07 Avg. KWH Cost - Residential $ 0.14 $ 0.13 Avg. KWH Cost - Small Commercial $ 0.13 $ 0.13 Avg. KWH Cost - Large Commercial $ 0.10 $ 0.09 Avg. KWH Cost - Lighting $ 0.18 $ 0.17 Avg. KWH Cost - Public Authority $ 0.14 $ 0.14 PLANT STATS Total Miles of Line 4,120 4,120 Density (# of customers / miles of line) Plant Investment per Mile $ 28, $ 27, Depreciation as a % of Plant 43% 41% Plant Per Consumer $ 3, $ 3, Inventory as a % of Plant 1.48% 1.50% 0 & M Expense as a % of Plant 2.93% 3.19% % Idle Services (Meters Idle/Total Meters) 0.79% 0.30% DEBT STATS RUS Loans as % of Total Loans 76% 69% Co-Bank/CFC Loans as % of Total Loans 24% 31% FINANCIAL STATS Number of Employees TIER (Y-T-D) OTIER (Y-T-D) Net Worth 48% 44% Consumer Expense Per Consumer $ 5.60 $ 4.61 Admin. & General Expense Per Consumer $ 6.35 $

18 According to the Paperwork Reduction Act of an agency may not conduct or sponsor, and a person is not required to respond to. a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is The time required to complete this information collection is estimated to average 15 bouts petresponse, including the lime lor reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completin i and reviewing [he collection ol tntormanon. UNITED STATES DEPARTMENT OF AGRICULTURE RURAL UTILITIES SERVICE FINANCIAL AND OPERATING ELECTRIC DISTRIBUTION INSTRUCTIONS - See help in the online application. REPORT BORROWER DES1GN ATION NM0028 PERIOD ENDED February, 2016 BORROWER NAME, This information is analyzed and used to determine the submitter's financial situation and feasibility for loans and gtiarantees. You are required by contract and applicable regulations to provide the information. The information provided is subject to the Freedom of Information Act (5 U.S.C. 552) CERTIFICATION We recognize that statements contained herein concern a matter within the jurisdiction of an agency of the United States and the making of a false, fictitious or frandnlcnt statement may render the maker subject to prosecution undertitle 18, United States Code Section We hereby certify that the entries in this report are in accordance with the accounts and other records of the system and reflect the status of the system to the best of our knowledge and belief. ALL INSURANCE REQUIRED BY PART 1788 OF 7 CFR CHAPTER XVII. RUS, W AS IN FORCE DURING T HE REPORTING PERIOD AND RENEW ALS HAVE BEEN OBTAINED FOR ALL POLICIES DURING THE PERIOD COVERED BY THIS REPORT PURSUANT TO PART 1718 OF 7 CFR CHAPTER XVII {check one oj the following) 1X1 All of the obligations under the RUS loan documents " have been fulfilled in all material respects. D 0 i ^ There has been a default ill the fulfillment of the obligations under the RUS loan documents. Said default(s) is/a re i i specifically described in Part D of this report. DATE' PART A. STATEMENT OF OPERATIONS YEAR-TO-DATE ITEM LAST YEAH THIS YEAR BUDGET THIS MONTH w d>) (O m 1. Operating Revenue and Patronage Capital 8,890,402 9,219,468 10,300,208 4,345,933 2, Power Production Expense 3. Cost of Purchased Power 5,094,988 5,422,013 6,385,838 2,571, Transmission Expense 8, Regional Market Expense 6. Distribution Expense - Operation 453, , , , Distribution Expense - Maintenance 276, , , , Customer Accounts Expense 351, , , , Customer Service and Informational Expense 21,261 6, ,358 4, Sales Expense 1 1. Administrative and General Expense 922, , , , Total Operation <& Maintenance Expense (2 thru 11) 7,119,222 7,657,000 8,726,771 3, 383, Depreciation and Amortization Expense 556, , , , Tax Expense - Property & Gross Receipts 122, , ,100 66, Tax Expense - Other Interest on Long-Term Debt 418, , , , Interest Charged to Construction - Credit 18. Interest Expense - Other Other Deductions 2, 309 (1,106) (134) 20. Total Cost of Electric Serv ice (12 thru 19) 8,220,080 8,747,924 9,790,572 3,928, Patronage Capital & Operating Margins (/ minus 20) 670, , , , Non Operating Margins - Interest 58,513 61,323 60,000 29, Allowance for Funds Used During Construction 24. Income (Loss) from Equity Investments 25. Non Operating Margins - Other (4,008) (2, 580) 1, 000 (1,724) 26. Generation and Transmission Capital Credits 27, Other Capital Credits and Patronage Dividends 28. Extraordinary Items 29. Patronage Capital or Margins (21 thru 28) 724, , , ,519 RUS Financial and Operating Report Electric Distribution Revision Date

19 UNITED STATES DEPARTMENT OF AGRICULTURE RURAL UTILITIES SERVICE FINANC IAL AND OPERATING REPORT INSTRUCTIONS - See help in the online application. ITEM BORROWER DESIGNATION ELECTRIC DISTRIBUTION PERIOD ENDED LAST YEAR (n) NM0028 February, PART B. DATA ON TRANSMISSION AND DISTRIBUTION PLANT YEAR-TO-DATE THIS YEAR th) ITEM LAST YEAR m YEAR-TO-DATE T HIS YEAR w 1 New Services Connected Miles Transmission Services Retired Miles Distribution - Overhead 3, , Total Services in Place 31,059 34, Miles Distribution - Underground Idle Services (Exclude Seasonals) Total Miles Energized ( ) PART C. BALANCE SHEET ASSETS AND OT HER DEBITS LIABILITIES AND OTHER CREDITS 4, , Total Utility Plant in Service 115,390, Memberships 109,705 2, Construction Work in Progress 3,704, Patronage Capital 52,045, Total Utility Plant (1+2) 119, 094, Operating Margins - Prior Years 0 4. Aceum. Provision for Depreciation and Amort, 50,123, Operating Margins - Current Year 2,002, Net Utility Plant (3-4) 68,971, Non-Operating Margins (9,454) 6. Non-Utility Property (Net) 183, Other Margins and Equities 1,570, Investments in Subsidiary Companies T otal Margins & Equities (30 thru 35) 55,719, Invest, in Assoc. Org. - Patronage Capital 16,931, Long-Term Debl - Rl IS (Net) 0 9. Invest, in Assoc. Org, - Other - General Funds Long-Term Debt - FFB - RUS Guaranteed 49,624,008 1G. Invest, in Assoc. Org. - Other - Nongencral Funds Long-Term Debt - Other - RUS Guaranteed Investments in Economic Development Projects Long-Term Debt Other (Net) 13,979, Other Investments Long-Term Debt - RUS - Econ. Devel. (Net) 0 13, Special Funds Payments - Unapplied 4,265,516 ^ Total Other Property & Investments (6 thru 13) 17,115,211 Total Long-Term Debt (37 thru 41-42) 59,337, Cash - General Funds 10,294, Obligations Under Capital Leases - Noncurrent 0 16, Cash - Construction Funds - Trustee 10,361,347,j Accumulated Operating Provisions and Asset Retirement Obligations 17 Special Deposits Total Other Noncurrent Liabilities ( ) Temporary Investments 43, Notes Payable Notes Receivable (Net) 1, Accounts Payable 2,815, Accounts Receivable - Sales of Energy (Net) 4,249, Accounts Receivable - Other (Net) 535, Consumers Deposits 215, Renewable Energy Credits Current Maturities Long-Term Debt 2,572, Materials and Supplies - Electric & Other 1,707,802 _ Current Maturities Long-Term Debl - Economic Development 24. Prepayments 2,219, Current Maturities Capital Leases Other Current and Accrued Assets 3,041, Other Current and Accrued Liabilities 2,338,324 Total Current and Accrued Assets " (15 thru 25) 32,454,922 Total Current & Accrued Liabilities (47 thru 53) 7,941, Regulatory Assets 5,836, Regulatory Liabilities Other Deferred Debits 12, Other Deferred Credits 1,392,128 Total Assets and Other Debits ( thru 2S) 124,390, T otal Liabilities and Other Credits ' ( thru 56) 124,390, RUS Financial and Operating Report Electric Distribution Revision Date