Audited Financials and Budget

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AUDITED FINANCIALS

 

The Truckee Donner PUD was formed and operates under the State of California Public Utility District Act. This district is governed by a board of directors which consists of five elected members. Truckee Donner PUD provides electric and water service to portions of Nevada and Placer Counties described as Truckee. The electric and water service operations are separately maintained and operated. These financial statements reflect the combined electric and water operations. All significant transactions between electric and water operations have been eliminated. These eliminations include power purchases and rent for shared facilities.

Truckee Donner PUD's blended component units consist of organizations whose respective governing boards are comprised entirely of the members of Truckee Donner PUD's Board of Directors. These organizations are reported as if they are a part of Truckee Donner PUD's operations. The entities are legally separate, however, in the case of the Truckee Donner Public Utility District Financing Corporation, financial support has been pledged and financial and operational policies may be significantly influenced by the District. The following is a description of the blended component units:

Truckee Donner Public Utility District Financing Corporation is a legal entity that was created to issue and administer Certificates of Participation on behalf of Truckee Donner PUD.

Truckee Donner Public Utility District Community Facilities District No. 03-1 (Old Greenwood) is a legal entity created to issue special tax bonds to finance various public improvements needed to develop property located within Old Greenwood. 

Truckee Donner Public Utility District Community Facilities District No. 04-1 (Gray’s Crossing) is a legal entity created to issue special tax bonds to finance various public improvements needed to develop property located within Gray’s Crossing.

Separate standalone financial statements are not available for the blended component units described above. 

The financial statements that exclude the financial results of the blended component units are below:

BUDGET

FY18 & FY19 Budget 
FY16 & FY17 Budget

Truckee Donner Public Utility District (District) provides electric power to 13,700 customers and water to 12,250 customers. This service, along with capital replacements, is paid by rates. Expanding electric and water systems in response to growth in the community is paid by developer fees.This District budget for years ending December 31, 2018 and 2019 (FY18 and FY19) reflects past performance, current requirements, and future opportunities and risks. The budgets for both the District’s Electric Utility and Water Utility are balanced. That is to say, the revenue and transfers from reserves are equal to the sum of expenses, debt service, capital projects, and transfers to reserves.

Budgeted revenue for the Electric Utility for FY18 and FY19 includes a 3% rate increase.  Budgeted revenue for the Water Utility includes the maximum 3% rate increase for both FY18 and FY19. The Electric Utility continues to transition from traditional electric resources to renewable generation power sources.  The Water Utility is improving infrastructure while maximizing the benefits of investments in water meters. The Electric Utility is improving the reliability of the District’s communication systems with a meter replacement program in FY18 and FY19. The District continues to emphasize return on equity for all programs, resulting in stable rates and improvements in the District’s and customers’ bottom lines.

This budget consists of five distinct parts.
          
Part I Mission Statement
          Part II Electric Utility’s operations, maintenance and repair
          Part III Water Utility’s operations, maintenance and repair
          Part IV Capital budgets for the electric and water systems
          Part V Appendices 

 

 

 

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