MSR Public Power Agency - Modesto Irrigation District...2017/11/15 · MSR Public Power Agency...
Transcript of MSR Public Power Agency - Modesto Irrigation District...2017/11/15 · MSR Public Power Agency...
MSR Public Power Agency
MEETING OF THE COMMISSION
Wednesday, November 15, 2017, 12:00 a.m. Navigant Consulting, Inc.
35 Iron Point Circle, Suite 225 Folsom, CA 95630
AGENDA Distribution:
Commissioners & Alternate Commissioners Others Modesto:
James McFall (V.P.) Steve Gross Martin Caballero (Alt) Alan Hockenson Martin Hopper1 Scott Van Vuren Jill De Jong Ana Vigil Cindy Worley Toxie Buriss Santa Clara: Pat Kolstad2 John Roukema Teresa O’Neill (Alt) Alan Kurotori Rajeev Batra Ann Hatcher Kathleen Hughes Redding: Dan Beans (President) 3 Ann Czerwonka3 Nick Zettel (Alt) Valerie Ibarra Tara Mikkelsen3
1 Please post agenda 2 Please post agenda 3 Please post agenda Updated 9/2017
M-S-R Public Power Agency
MEETING OF THE COMMISSION
Wednesday, November 15, 2017, 12:00 Noon Navigant Consulting, Inc.
35 Iron Point Circle, Suite 225 Folsom, California
AGENDA Any member of the public who desires to address the Commission on any item considered by the Commission at this meeting before or during the Commission’s consideration of that item shall so advise the Chair and shall thereupon be given an opportunity to do so.
CALL TO ORDER
ROLL CALL
CONSENT ITEMS 1 – 8 (All items are approved by a single action)
There will be no separate discussion of those items unless an item is removed at the request of any Commissioner or member of the public. Those items removed will be separately considered at the end of the consent agenda.
1. Minutes of September and October 2017
2. Report of Summary invoices paid for September - October 2017 totaling $19,179,377.16 (attached)
3. September and October 2017 Treasurer’s Report (attached, Scott VanVuren)
4. November 2017 San Juan Fuel Consumption Status Report (attached, Martin Hopper)
5. November 2017 San Juan Balancing Accounts Status Report (attached, Martin Hopper)
6. November 2017 WREGIS REC Transfers Status Report (attached, Martin Hopper)
7. November 2017 Outside Services Budget Versus Actual Report (attached, Martin Hopper)
8. Discussion and Possible Action Regarding Regulatory Counsel Fee Adjustment (attached, Martin Hopper)
END OF CONSENT ITEMS
ACTION ITEMS 9 - 13:
9. Status Reports (attached, Alan Hockenson)
a. San Juan Project Status Report
b. Pacific Northwest Projects Status Report
M-S-R Public Power Agency Commission Agenda Page 2 November 15, 2017
2017 MSR PPA Commission Meeting Agenda
10. November 2017 General Manager’s Report (attached, Martin Hopper)
11. Discussion and Possible Action Regarding 2018 M-S-R PPA Budget (attached, Martin Hopper)
12. Discussion and Possible Action Regarding 2018 meeting dates (attached, Martin Hopper)
13. Discussion and Possible Action Regarding 2018 Election of Officers (attached, Martin Hopper)
CONVENE CLOSED SESSION:
a. Existing Litigation: Government Code §54956.9 (d)(1) – 6 Cases (10th US Circuit Court of Appeals 11-9557 et al, NM-PRC Case No. 17-000174-UT, Supreme Court of New Mexico Case No. 35-697; U.S. District Court for New Mexico Case No. 1:14CV-00112-RJ, BP-16-BPA, BP-18-BPA)
b. Public Employee Performance Evaluation: Government Code §54957 – General Manager
RECONVENE OPEN SESSION
ANNOUNCEMENTS FOLLOWING CLOSED SESSION
AGENDA DISCUSSION ITEMS:
1. Discussion and Possible Action Regarding Amendment No. 7 to Amended and Restated Professional Services Agreement with Martin Hopper Energy Consulting (attached, Steve Gross)
MEMBER REPORTS
PUBLIC COMMENT
CONFIRM DATE AND TIME OF NEXT MEETING
ADJOURN
ALTERNATE FORMATS OF THIS AGENDA WILL BE MADE AVAILABLE UPON REQUEST TO QUALIFIED INDIVIDUALS WITH DISABILITIES.
M-S-R PUBLIC POWER AGENCY DRAFT MINUTES
MEETING OF THE COMMISSION SEPTEMBER 20, 2017
The Commission of the M-S-R Public Power Agency (M-S-R PPA) met on September
20, 2017 at the offices of Navigant Consulting, Inc. (NCI), 35 Iron Point Circle, Suite
225, Folsom, CA, 95630. Present from Modesto Irrigation District (MID) were James
McFall and Martin Caballero; present from Santa Clara were Pat Kolstad and John
Roukema; present from Redding was Dan Beans. Also present were General Manager
Martin Hopper, Consultant Alan Hockenson and General Counsel Steve Gross.
Vice President McFall called the meeting to order at 12:32 P.M. A quorum was attained
with the voting representatives being Mr. McFall, Mr. Kolstad, and Mr. Beans.
The Commission then considered approval of the Consent Calendar Items. It was moved
by Commissioner Kolstad and seconded by Commissioner Beans to approve the Consent
Calendar consisting of Items 1, 2, 3, 4, 5, and 6 as listed below. The motion carried
unanimously.
1. Minutes of July 19, 2017 – approved.
2. Report of Summary invoices paid for July - August 2017 totaling $24,092,695.06
– noted and filed.
3. July and August Treasurer’s Reports – accepted.
4. September 2017 San Juan Fuel Consumption Status Report – noted and filed.
5. September 2017 San Juan Balancing Accounts Status Report – noted and filed.
6. September 2017 WREGIS REC transfers Status Report – noted and filed.
Mr. Hockenson then briefly addressed the Commission regarding the San Juan Project
and Pacific Northwest Project Status Reports and entertained questions thereon. He
reported that staff attrition at the San Juan Generating Station may be affecting both the
amount of work completed and employee morale. He also informed the Commission that
DRAFT Minutes M-S-R Public Power Agency Meeting of September 20, 2017 Page 2 of 4
energy delivery curtailments for the Big Horn Wind Energy Projects have decreased,
which is the expected pattern at this time of year.
Mr. Hopper then addressed the Commission regarding the General Manager Report and
entertained questions thereon. He informed the Commission that PNM has now received
the payment for July Refined Coal Credits and has informed the Participants that refined
coal operations may resume in the near future. He also reported that the Members have
requested a review of the potential to reduce San Juan generation in light of the
continuing satisfaction of minimum coal consumption obligations under the
Restructuring Agreements. He informed the Commission that in a recent FERC filing
Arizona Public Service Company had named M-S-R PPA as a participant in the Mead-
Phoenix Project – which was sold last year to SCPPA. General Manager and General
Counsel will work with SCPPA and APS to document the Agency’s release from liability
and removal from the Project Agreements.
Mr. Hopper then addressed the Commission regarding the proposed 2018 M-S-R
Strategic Plan. He informed the Commission that the draft had been reviewed by Member
Staff at a workshop held September 7, 2017 and a follow-on discussion regarding BPA
activities will occur on September 26, 2016. The proposed update addresses implications
and actions necessary for the successful divestiture of M S-R PPA’s interests in the San
Juan Generating Station and management of related legacy liabilities. Specific new
recommendations include the creation of a Regulatory and Compliance Program to
encompass certain activities including FERC-filings regarding transmission rates and
revenue requirements as may directly impact the Members, proceedings before the CEC,
CARB and CPUC regarding greenhouse gas controls, cap-and-trade programs, and
CARB Mandatory Reporting Requirements and regarding SB 350, AB 398, and SB 100
implementation as directed by the Members, not otherwise directly allocable to the
Pacific Northwest Project and that costs therein would be equitably allocated to the
Members pursuant to a determination to be subsequently made by the Commission. The
Agency will continue to coordinate with its Members, BANC, TANC, NCPA and others
DRAFT Minutes M-S-R Public Power Agency Meeting of September 20, 2017 Page 3 of 4
to assign responsibilities, eliminate duplicative effort, and reduce costs wherever
possible. A number of corrections to the proposed 2018 Strategic were proposed. It was
moved by Commissioner Beans and seconded by Commissioner Kolstad to adopt the
corrected 2018 M-S-R PPA Strategic Plan. The motion carried unanimously.
Mr. Hopper then addressed the Commission regarding the September 2017 Outside
Services Budget versus Actual Report and Mid-Year Budget Review. He indicated that
overall, the outside services categories through June 30, 2017, or 50% of the year have
expenditures totalling $564,000 or about 45% of their annual budgets and are estimated
to complete the year at $1,192,000 or about 96% of the annual budget of $1,245,000
based on weighted projections of expected workloads. Various minor rebalancings of
certain line items described in the Staff Report will be implemented administratively in
accordance with the previously expressed consensus of the Commission. It was moved by
Commissioner Beans and seconded by Commissioner Kolstad to note and file the
September 2017 Outside Services Budget versus Actual Report and Mid-Year Budget
Review. The motion carried unanimously.
The Commission then retired into Closed Session pursuant to Government Code Section
54956.9(d)(1) – Conference with Legal Counsel – Existing Litigation – 6 Cases (10th US
Circuit Court of Appeals 11-9557 et al, NM-PRC Case No. 13-00390-UT, Supreme
Court of New Mexico Case No. 35-697, BP-16-BPA, BP-18-BPA, U.S. District Court of
New Mexico Case No. 1:14CV-00112-RJ); pursuant to Government Code Section
54956.8 for Conference with Real Property Negotiator, Property: Real Property and/or
Improvements, 300 Big Horn Road, Bickleton, Washington. The negotiation parties are
Big Horn Wind Project, LLC, and Agency Negotiator: Martin Hopper and/or Steven C.
Gross. Under Negotiation: Purchase/Sale/Exchange/Lease of Real Property provisions,
price and terms of payment; and pursuant to Government Code Section 54956.9(d)(2) –
Exposure to Litigation – 1 Case at 1:07 P.M. Upon the conclusion of the Closed Session
at 1:46 P.M., the Chair then reported for the record, pursuant to the Government Code,
that the Commission had taken no actions which require public disclosure at this time.
DRAFT Minutes M-S-R Public Power Agency Meeting of September 20, 2017 Page 4 of 4
The Chair then called for Member Reports and for Public Comment. Mr. Beans reported
that he has now been officially appointed as Redding’s Director of Electric Utility. There
being no further reports or comments, the Chair announced that the next regular meeting
of the Commission will be held on Wednesday, November 15, 2017 at 12:00 Noon, at
Navigant’s offices in Folsom, CA. The meeting was then adjourned by the Chair at 1:47
P.M.
Martin R. Hopper Assistant Secretary
Page 1 of 1
M-S-R PUBLIC POWER AGENCY DRAFT MINUTES
SPECIAL JOINT MEETING OF THE COMMISSION AND TECHNICAL COMMITTEE
OCTOBER 5, 2017
The Commission of the M-S-R Public Power Agency (M-S-R PPA) held a special joint meeting with the M-S-R PPA Technical Committee on October 5, 2017 at the Hampton Inn & Suites, 1 Nichols Parkway, Hood River, OR, 97031. Present from Modesto Irrigation District (MID) were Greg Slayer, James McFall and Martin Caballero; present from Santa Clara were Pat Kolstad, John Roukema, Kevin Kolnowski, and Kathleen Hughes; present from Redding were Joe Bowers and Brian Schinstock. Also present were Consultant Alan Hockenson and General Manager Martin Hopper. Vice President McFall called the meeting of the Commission to order at 8:01 A.M. A quorum was attained with the voting representatives being Mr. McFall, and Mr. Kolstad, with Mr. Schinstock as a non-voting representative. Mr. McFall called the meeting of the Technical Committee to order at 8:02 A.M. A quorum was attained with the voting representatives being Mr. Caballero, and Ms. Hughes, and with Mr. Schinstock as a non-voting representative. Mr. Hopper announced that MID Board Members Nick Blom and Larry Byrd, who had arrived with the tour group, left before the Commission meeting to attend to a family emergency. The Commission and Technical Committee recessed at 8:02 A.M. to conduct a site visit and tour of the Big Horn I and Big Horn II Wind Energy Projects located near Bickleton, WA. At 3:58 P.M., Mr. McFall called the Commission and Technical Committee from recess. The Chair then called for Member Reports and for Public Comment. There being none, the Chair announced that the next regular meeting of the Commission will be held on Wednesday, November 15, 2017 at 12:00 Noon, at Navigant’s offices in Folsom, CA. The Commission meeting was then adjourned by the Chair at 3:58 P.M. The Chair also announced that the next regular meeting of the Technical Committee will be held on Thursday, November 2, 2017 at 9:00 A.M., at Navigant’s offices in Folsom, CA. The Technical Committee meeting was then adjourned by the Chair at 3:59 P.M.
Martin R. Hopper Assistant Secretary
September-October 2017
Payee DescriptionPeriod
Covered Amount
KBT Consulting Services Jul-17 28,185.76$ Duncan Weinberg Legal Services Jun-17 49,079.94$ MID Administrative & Accounting Service Jul-17 60,011.38$ Navigant Professional Services Jun-17 3,399.18$ PNM Weekly RFF Aug-17 20,000.00$ Martin Hopper Energy Consulting General Manager Services Aug-17 20,369.25$ Law Offices of Susie Berlin Legal Services Jul-17 5,164.53$ U.S. Bank Debt Service 2008 M-N Oct-17 56,124.88$ U.S. Bank Swap Payment 1998F&G Sep-17 148,989.79$ Duncan Weinberg Legal Services Jul-17 41,371.48$ APPA APPA Western Markets Initiative Aug-17 1,500.00$ PNM Weekly RFF Sep-17 139,000.00$ U.S. Bank Series 2008L Sep-17 3,100.00$ U.S. Bank Series 2008M Sep-17 3,200.00$ U.S. Bank Series 2008N Sep-17 3,200.00$ Porter Simon Legal Services Aug-17 4,048.00$ PNM Coal Bill Aug-17 2,894,772.61$ Avangrid BigHorn2 Contract Power Aug-17 665,037.54$ Big Horn Wind Project Firm Energy Aug-17 1,381,614.81$ Avangrid Big Horn Shaping Aug-17 491,660.00$ PNM Weekly RFF Sep-17 17,000.00$ PNM Demand Charge Aug-17 105,769.05$ PNM Monthly O&M Aug-17 1,284,116.36$ PNM Weekly RFF Sep-17 282,000.00$ U.S. Bank Debt Service L&Q Sep-17 2,278,578.68$ Hampton Big Horn Site Inspection Room List Sep-17 3,363.74$ Politico Legislative Services Aug-17 2,000.00$ WREGIS Transfer Volume Fee Sep-17 571.13$ MID Administrative & Accounting Services Aug-17 60,619.66$ Law Offices of Susie Berlin Legal Services Aug-17 5,855.65$ KBT Consulting Services Aug-17 21,478.52$ PNM Weekly RFF Sep-17 20,000.00$ U.S. Bank Debt Service 2008M&N Sep-17 56,124.88$ U.S. Bank Swap Payment Series 1998F&G Sep-17 155,059.90$ Politico Legislative Services Sep-17 2,000.00$ PNM Weekly RFF Oct-17 222,000.00$ Martin Hopper Energy General Manager Services Sep-17 21,358.35$ Duncan, Weinberg Legal Services Aug-17 49,374.80$ PNM Coal Sep-17 2,600,282.50$ U.S. Bank Debt Service 2008L&Q Oct-17 2,278,578.68$ PNM Weekly RFF Oct-17 49,000.00$ Porter Simon Legal Services Sep-17 8,000.80$ PNM Weekly RFF Oct-17 178,000.00$ Big Horn Wind Project Firm Energy Sep-17 1,715,121.25$ Avangrid Shaping Fee Sep-17 481,507.00$ Avangrid Renewables BigHorn2 Sep-17 1,017,301.99$ PNM Weekly RFF Oct-17 170,000.00$ PNM Demand Charges Sep-17 74,485.07$
19,179,377.16$
M-S-R Public Power AgencyReport of Summary Invoices Paid
To Commission November 15, 2017
Treasurer’s Report SEPTEMBER 2017
M-S-R Public Power Agency Treasurer’s Report
Index
i
Treasurer’s Report for the Month of September 2017
Investment Portfolio Pie Chart
MSR / LAIF / US Treasury 2-Year
Average Maturity Report
Quarterly Report
General Fund:
Portfolio Summary
Portfolio Details – Investments
Portfolio Details – Cash
Investment Status Report – Investments
Investment Status Report – Cash
Investment Activity by Type
Activity Report LAIF
Trust Funds:
Portfolio Summary
Portfolio Details – Investments
Portfolio Details – Cash
Investment Status Report – Investments
Investment Status Report – Cash
Investment Activity by Type
Received Interest
Realized Gains and Losses
MSR PUBLIC POWER AGENCY TREASURER'S REPORT
FOR THE MONTH OF SEPTEMBER 2017
BJNp BALANCES
813112017
Uf:IIBESTRICIED EUf:IIDS Cost Value Recel~ Disbursements General Fund, net of MCCAA 32,931,946 0 0 Member Cash Call Reserve Acd.. 2,477,629 0 0 Debt Service Coverage Revolving Fund 275 000 275000 0
35,684,574 12,746,440 11,417,382
RESTRICTED FUNDS MSR 2008 Series L 10,898,578 4,097,749 2,047,810 MSR 2008 Series M 3,261.952 33,414 33,275 MSR 2008 Series N 1,182,751 22,902 22,850 MSR 2011 Series 0 6,075 4 (0) MSR 2014 Series Q 501,339 231,009 0 MSR Big Hom Wind Colla1 Acct. 3,634,718 1,383,107 1,381 ,615 MSR Big Hom Shaping Acct. 1,044,248 492,080 491,660 MSR SJ Coal Reclamation Trust 12,815,404 26,976 0
33,345,065 6,287,240 3,977,210
TOTAL FUNDS 69,029,640 19,033,880 15,394,592
CASH IMESIJIENTS
DEI\dAf:IID accouras Union Bank- General Fund
S1andard per IM£ESTMElfiS (SH !ttachad) GOY'! Code Adl.raL. Bankers Acceptances 40% 0.0% Certificates of Deposii(CoiiJins.) NoUmit 0.0% Commerctal Paper(A1JP1) 25% 0.0% Corporate Notes-Medium Term 30% 2.8% Federal Agencies No limit 31.1% Local Agency Investment Fund $65,000,000 47.9% Money Marltet ADc<xJnts No limit 18.2% Repurchase Agreements No limit 0.0% U.S. Treasury Instruments No limit Wllla
TOTAL INVESTMENTS ~
Add: Deposits in transit Less: Outstanding checks
TOTAL CASH & INVESTMENTS
• Source of Marllel Value lnfonnalion ill US Bank, Union Bank, and Bloomberg Fln811Clial Systems
We certify that this statemert is a true and oorrect record of transac11ons in the Treasury since the prior report. The agency has sufficient liquid assets on deposit to meat its obligations over the next 6 months. Ail !nvestments are In compliance with the agency's investment policy guidelines.
~""" ~TMU"OW
913012017
Cost Value 33,986,003
2,477,629 550 000
37,013,632
12,948,517 3,282,092 1,182,802
6,080 732,348
3,636,210 1,044,668
12,842,380 35,655,096
72.668.728
393,905
0 0 0
2,014,607 22,510,198 34,608,485 13,144,898
0 0
72,278,187
0 (3,364)
7~6881728
913012017 9/3012017 RGSaiVas: Unrealized MktValue• Mkt. Value• Gall'li'Lolls
36,999,146 (14,487}
6,507,393 6,347,262 (93,862) 3,098,284 119,122 (44,685) 1,123,017 43,597 (16,188)
0 6,080 0 0 732,348 0 0 3,636,210 0 0 1,044,668 0 0 12,668,274 '174,106l
10,728,694 24,597,560 (328,841)
10,728,694 61,596,706 (343,328)
Corp Medium Term Notes5.50%
Federal Agency Issues0.00%
Managed Pool Accounts (LAIF)
94.50%
M‐S‐R Public Power AgencyInvestment Portfolio September 2017
1.124
1.47
0.94
0
0.5
1
1.5
2
2.5
3
Earnings Rate
MSR / LAIF / US Treasury 2‐YearSeptember 2017
MSR LAIF Treas Cons Matr 2Yr MSR Avg
0
100
200
300
400
500
600
Days
General Fund PortfolioAverage Maturity Report
Weighted Average Maturity
MSR Treasurers Report Spreadsheet 2017
MSR Treasurers Report Spreadsheet 2017
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
4Q 2016 1Q 2017 2Q 2017 3Q 2017
M‐S‐R Public Power AgencyInvestment Portfolio Quarterly Comparison
Third Quarter 2017
Corp Med Term Notes
LAIF
Federal Agency
Investments P•
V81ue
Managed Pool Accounts 34,808,484.52
Corporate Medium Term Notes 2,000,000.00
Investments 36,608,484.52
Cash Passbook/Checking (not Included In yield calculations)
390,541 .00
Total Cash and Investments 38,9H,025.52
Total Earnings September 30 Month Ending Current Year
Average Dally Balance
Effective Rate of Return
Scott Van Vuren, Treasurer
Reporting period 09/01/2017-G913012017 Data Updated: SET _MSRG: 10/1 0/2017 11 :06 Run~: 1011012017-11:06
31,990.34
34,672,209.75
1.12%
MSR Public Power Agency Portfolio Management
Porifoiio Summary September 30, 2017
Market Book Vllue Value
34,808,484.52 34,1108,484.52
2,000,120.00 2,014,806.88
36,808,604.52 38,623,091 AO
3G0,541.00 390,541.00
36,199,145.52 37,013,632.40
Fiscal Year To o.te 114,267.20
%of Days to Portfolio Term IIMurtty
94.50
5.50 1,847 107
100.00% 103 7
103 7
Modesto Irrigation District 1231 - 11th St.
Modesto, CA 95352 (209)526-7308
YTM 361Equ1Y.
1.111
1.350
1.124
0.000
1.124
Portfolio MSRG CP
PM (PRF _PM1) 7.3.0
Report Ver. 7.3.5
CUSIP lnvestmsnt I Aver'lge
Issuer Bellrlee
Managed Pool Accounts
SYSLAIF LAIF Local Agency Investment Fund
SubtOtal and Average
Corporate Medium Term Notes
94974BFGO 16709 Wels Fargo & Company
Subtotal and Average
Total and Average
Data Updated: SET_MSRG: 10/101201711:06 R'-'1 OM&: 1011012017 - 11:06
32,215,111.11
2,01<1,801.88
3<1,872,209.75
MSR Public Power Agency Portfolio Management
Portfolio Dem!!e - Investments September 30, 2017
Purehue Olta Par Value Market Value
34,608,.484.52 34,80M84.52
34,108,41U2 34,808,414.52
1212612012 2,000,000.00 2,000,120.00
2,000,000.00 2,000,120.00
31,108,414.52 38,808,104.52
Stated Book Value Rate
34,608.~.52 1.111
34,608,484.12
2,014,608.88 1.500
2,014,808.88
36,823,091 AO
Page1
YTM o.y.to Maturtty S&P 381Maturtty Data
1.111 1 -----1.111
1.350 107 01/18/2018 ---1.35()
1.12<1
107
7
Portfolio MSRG
CP PM (PRF _PM2) 7.3.0
Report Var. 7.3.5
CUSIP Investment I IUuar
Passbook/Checking Accounts
SYSGENERALFUND GENERAL FUND Union Bank ot California
Ave111ge &.Janca
Total Caah and ln.,..tmtnta
Data Updated: SET _MSRG: 1 011 0/2017 11 :06 Run Dale: 10110/2017-11:06
Average Balance
0.00
3•,872,209.75
MSR Public Power Agency Portfolio Management Pcrtfolio Details- Cash
September 30, 2017
Purchaae Date Par Value Market Value
01/01/1999 390,541.00 390,541.00
31,199,025.82 36,119,145.52
Stated Book Value Rate
390,541.00
37,013,632.40
Page2
YTM D.ylto S&P 365 Maturtty
0.000
7
Portfolio MSRG CP
PM (PRF _PM2) 7.3.0
CUSIP lnYMtmentt
Managed Pool Accounts
SYSLAIF LAIF LA IF
Managed Pool Account. Totals
Corporate Medium Term Notes
94974BFGO 16709 ~LLS
Corporate Medium Tenn Nobill Totals
IITYMtment Totals
Data Updated: SET_MSRG: 10/1012017 11:06 RU'I Oale: 10(1012017 - 11:06
MSR Public Power Agency Portfolio Management
Investment Status Report - Investments September 30, 2017
Stated Maturity Purchase Par Value R* Data Date
YTM 310
YTM 315
Payment o.tea
Accrued Interest AtPurchaae
34,608,484.52 1.111
34,808,484.52
1.0Ge 1.111 01/15 - Quartefly -- ------1.0H 1.111 0.00
Currant Prlncl.,.l
34,608,484.52
34,1108,4114.52
2,000,000.00 2,014,606.88 1.500 01/1612018 1.212612012 1.332 1.350 07/16 - 01/16 -- _____ ..;...,. ______________ _ 2,000,000.00 1.332 uso 0.00 2,014,8011.88
38,808,484.12 1.109 1.124 0.00 31,823,091AO
Page 1
BookValul
34,608,484.52
34,808,484.52
2,014,608.88
2,014,608.88
3e,l23,0t1.40
Portfolio MSRG
CP PM (PRF _PMS) 7.3.0
Report Ver. 7.3.5
CUSIP Investment t Issuer
Passbook/Checking Accounts
SYSGENERALFUND GENERALFUNO UBC
CuhTot.ls
Total Cash and Investments
Data Updated: SET_MSRG: 10/101201711:06 Run o.te: 10f1CW2017 -11:06
MSR Public Power Agency Portfolio Management
Investment Status Report- Cash September 30,2017
Stated Maturity Purcha .. ParValw Rllt8 Dm Date
YTM 380
VTM 365
390,541.00 01/01/11199 0.000 0.000
310,&41.00
38,999,025.52 1.101 1.1:U
Payment DatM
I - Monthly
Accrued lnterut AtPurchne
o.oo 0.00
Current Prtnctpal
3110,541.00
310,541.00
37 ,013,632..0
Page2
BookValu.
390,541.00
390,541.00
37,013,832 • .0
Portfolio MSRG CP
PM (PRF _PMS) 7.3.0
MSR Public Power Agency Portfolio Management
Activity By Type September 1, 2017 through September 30, 2017
CUSIP l .. uer
Managed Pool Accounts (Monthly Summary)
BegiMing Balance
SYSLAIF LAIF LOQII NJency Investment Fund
Subtotal 33,308,auz
Passbook/Checking Accounts (Monthly Summary)
SYSGENERAL FUND GENERAL FUND Union Bank of Galifomla
Subtotal
Corpo~te Medium Tenn Notes
Subtotal
Data Updated: SET_MSRG: 10110/2017 11:06 Run Data: 1011012017-11:08
Total
------3411,483.09
2,014,606.88
35,184,574.-Q
stated Trensac:tlon Purc:hues Rate Date orDepoells
1.111 4,600,000.00
4,600,000.00
29,057.111
29,057.91
4,829,087.11
Redemptions orWithd..-ala
3,300,000.00
3,300,000.00
0.00
0.00
3,300,000.00
Ending Balance
M,608 ... U2
390,541.00
2,014,106.88
37,013,632.40
Page1
Portfolio MSRG
CP PM (PRF _PM3) 7.3.0
Report Ver. 7.3.5
Percent CUSIP lnvutment t llsuer of Portfolio
Issuer: Local Agency Investment Fund
MSR Public Power Agency Activity Report
issuer:locaiAgencylnvesbnentFund September 1, 2017- September 30, 2017
P~yaiiJ!. Beginning Current Tranaac:tlon
Balance Rat. Date
Managed Pool Accounts
SYSlAIF I.AIF Local Agency Investment Fund 1.111
Subtotal and Balance
laauer Subtotal 83.831%
Data Updated: SET _MSRG: 1 0/1 0/2017 11 :06 Run Date: 1011012017 - 11:06
Total
------33,301,4M.52
33,308,4114.52
33,301,4114.52
Purchases or Deposita
4,600,000.00
4,600,000.00
4,1100,000.00
,,100,000.00
PM' Value
Redemptions or Withdrawals
3,300,000.00
3,300,000.00
3,300,000.00
3,300,000.00
Modesto Irrigation District 1231 ·11th St.
Modesto, CA 95352 (209)526-7308
Ending Balance
3 ... 808,411"-52
34,&08,48-4.12
3,,808,4114.82
Portfolio MSRG CP
DA (PRF _DA) 7.2.0 Repol1 Vw. 7.3.5
Investments Par
Value
Federal Agency Issues - Coupon 22,341,000.00
Investments 22,341 ,000.00
Cash
Passbook/Checking (not Included In yield calculations)
13,144,897.50
Total Cash and lnvesbnents 35,485,817.50
Total Earnings September 30 Month Ending Current Year
Average Dally Balance
Effective Rate of Return
Scott Van Vuren, Treasurer
Reporting period 09/01/2017-09130/2017 Data Updated: SET_MSRT: 10/041201713:47 Run De: 1010412017 ·13:48
38,092.30
34,119,408.44
1.36%
MSR Public Power Agency Trust Portfolio Management
Portfolio Summary September 30, 2017
Market Book Value Value
22,181 ,358.g8 22,510,198.08
22,181 ,358.98 22,510,198.08
13,144,897.50 13,144,897.50
35,328,254.48 35,855,095.58
Fiscal Year To Data 347,011.15
% of Dayt~ to Portfolio T•rm M.wrfty
100.00 1,588 856
100.00% 1,588 856
1,588 858
Modesto Irrigation District 1231 • 11th St.
Modesto, CA 95352 (209)526-7308
YTM 381 Equtv.
1.395
1.315
0.880
1.395
Portfolio MSRT CP
PM (PRF _PM1) 7.3.0 Report Ver. 7.3.5
CUSIP Investment fl l .. uer
Federal Agency Issues - Coupon
3135GOZA4 17159 Federal Nat'l Mtg. Asaoc. 3135GOZA4 17160 Federal Nafl Mtg. Assoc. 3135GOZA4 17181 Federal Narr Mtg. Assoc.
3135GOF73 17244 Federal Nafl Mtg. Assoc.
3136G3NG6 17283 FedenJI Nat'l Mig . .Assoc. 3136G36J9 17314 Federal Nat'l Mig . .Assoc.
MSR Public Power Agency Trust Portfolio Management
Portfolio Details -Investments September 30,2017
Avenge Purchalt Balance Dcte Par Value MarbtValue
01112/2015 2,995,000.00 3,011 ,852.20
01/1212015 1,085,000.00 1,091 ,032.80 01/1212015 8,291,000.00 8,32s,sn.B8
11130/2015 3,000,000.00 2,979,900.00
0512512018 1 ,270,000.00 1 ,242,283.20 09/29/2016 3,700,000.00 3,586,891.00
3134GAHL1 17313 Fed Home Loan Mortgage Corp 09107/2018 4,000,000.00 3,!143,640.00
Subtotal and Average
Total and Average
Data Updated: SET_MSRT: 10/041201713:47 Run Date: 1010412017 - 13:48
22,510,1118.08 22,341,000.00 22,181,3H.96
34,119,4011 .... 22,341,000.00 22,111,356.96
Stntd Book Value Rate
3,058,337.80 1.875
1 '107,220.80 1.875 6,419,839.88 1.875
2,956,800.00 1.500
1,270,000.00 1.200 3,700,000.00 1.450
4,000,000.00 1.200
22,510,198.08
22,510,198.08
Page1
YTM Daysto Maturity S&P 3S!i Maturity Dllte
AA+ 1.380 508 02/19/2019 M+ 1.360 soe 02/19/2019 AA+ 1.380 508 02119/2019
1.802 1,158 11130/2020
1.200 980 0511812020 1.450 1,459 09/29/2021
-~~ 05126/2020
1.395
1.395
8111
8H
Portfolio MSRT CP
PM (PRF _PM2)7.3.0
Report VIII'. 7.lU:I
CUSIP Investment #I Issuer
PassbookfChecklng Accounts
SYS30000 MONEY 30000MONEY u .s . Bank Corporate Trust SYS30001 MONEY 30001 MONEY U.S. Bank Corporate Trust SYS30002 MONEY 30002 MONEY u.s. Bank Corporate Trust
SYS30003 MONEY 30003MONEY U.S. Bank Corporate Trust SYS31000 MONEY 31000MONEY U.S. Bank Corporate Trust SYS31003 MONEY 31003MONEY U.S. Bank Corporate Trust
SYS32000 MONEY 32000MONEY U.S. Bank Corporate Trust SYS32003 MONEY 32003MONEY U.S. Bank Corporate Trust SYS33000MONEY 33000MONEY U.S. Bank Corporate Trust
SYS7000MONEY 7000MONEY U.S. Bank Corporate Trust SYS785000 MONEY 785000 MONEY U.S. Bank Corporate Trust SYS785001 MONEY 785001 MONEY u.s. Bank Corporate Trust
SYS785002 MONEY 785002 MONEY U.S. Bank Corporate Trust SYS785003 MONEY 785003 MONEY U.S. Bank Corporate Trust SYS798000 MONEY 798000 MONEY U.S. Bank Corporate Trust
SYS798002 MONEY 798002 MONEY U.S. Bank Corporate Trust SYSBOOOMONEY 8000MONEY U.S. Bank Corporate Trust SYS8001 MONEY 8001 MONEY U.S. Bank Corporate Trust
Average Balance
Total cash and lnveatmenbl
Data Updated: SET_MSRT: 10104/201713:47 Run Date: 10/0412017 -13:48
Avttr'llge BaiMJCe
0.00
34,119,408.44
MSR Public Power Agency Trust Portfolio Management Portfolio Details r Cash
September 30, 2017
Purchase Date Par Value Mcrket Value
183,541.08 183,541.08
1,102,330.77 1,102,330.77
5,081,3110.02 5,081,390.02
181,415.15 181,415.15
119,122.42 119,122.42 88,631.98 88,831 .98
43,598.90 43,598.90
31,984.34 31,984.34 915,579.81 915,579.81
3,838,210.39 3,638,21 0.39
0.00 0.00
155.80 155.80
5,924.11 5,924.11
0.00 0.00 0.00 0.00
723,917.58 723,917.58
1,044,667.82 1,044,887.82
8,429.95 8,429.95
35,485,897.50 35,326,254.48
Stmct Book Value ltat8
183,541.08 0.880
1,102,330.77 0.880
5,061,390.02 0.880
181 ,415.15 0.880
119,122.42 0.880 86,831.98 0.880
43,598.90 0.880
31,984.34 0.880 915,579.61 0.880
3,638,21 0.39 0.880
0.00 0.880
155.80 0.880
5,924.11 0.880
0.00 0.880 0.00 0.880
723,917.58 0.880
1,044,887.62 0.880 8,429,95 0.880
35,1155,0115.58
S&P
Page2
YTM Dayato HS Maturtty
0.880
0.880
0.860
0.880
0.880 0.880
0.880
0.880
0.880
0.880
0.880
0.880
0.880
0.880
0.880
0.880
0.880
0.880
1.395
1
856
Portfolio MSRT
CP PM (PRF _PM2) 7.3.0
CUSIP Investment t r .. uer
Federal Agency Issues - Coupon
3135GOZA4 17159 FNMA
3135GOZA4 17160 FNMA 3135GOZA4 17181 FNMA 3135GOF73 17244 FNMA
3138G3NG8 17283 FNMA
3138G38J9 17314 FNMA 3134GAHL1 17313 FREDMC
Fedenll Agency luues - Coupon Totals
lnveatment Totals
Data Updated: SET_MSRT: 1010412017 13:47 Run Dille: 1010412017 • 13:-48
Par Value
2,995,000.00
1,085,000.00
8,291,000.00 3,000,000.00
1,270,000.00
3,700,000.00 4,000,000.00
22,341,000.00
22,341,000.00
MSR Public Power Agency Trust Portfolio Management
Investment Status Report - Investments September 30, 2017
Stated MMurlty Pure haM YTM YTM Payment Rate Dat. Date 360 365 Dltel
1.875 02/1912019 01/1212015 1.341 1.360 02119 - 08119
1.875 02119/2019 01/1212015 1.341 1.380 02/19 - 08119
1.875 0211912019 01/1212015 1.341 1.360 02119 - 08/19 1.500 1113012020 1113012015 1.778 1.802 0!!130 - 11130
1.200 0511812020 0512512018 1.184 1.200 11/18-06118
1.450 0912912021 0912912018 1.430 1.450 03129 - 09129 1.200 0512612020 0910712016 1.184 1.200 11126 - 05128 ----1.376 1.385
1.378 1.395
Accrued Interest Current At~ Prtnc:lpll
Received 3,056,337.60
Received 1,107,220.80
Received 8,419,839.88 2,956,800.00
1,270,000.00
3, 700,000.00 Recelved 4,000,000.00
0.00 22,510,198.08
0.00 22,510,198.08
Pag•1
Book Value
3,056,337.80
1,107,220.80
8,419,839.88 2,956,800.00
1,270,000.00
3,700,000.00 4,000,000.00
22,510,198.08
22,510,198.08
Portfolio MSRT CP
PM (PRF _PMS) 7.3.0 Report Ver. 7.3.5
CUSIP lmrfttment, Iauer
Passbook/Checking Accounts
SYS30000 MONEY 30000MONEY US BANK
SYS30001 MONEY 30001 MONEY USBANK
SYS30002 MONEY 30002 MONEY US BANK SYS30003 MONEY 30003MONEY USBANK
SYS31000 MONEY 31000 MONEY US BANK
SYS31003 MONEY 31003MONEY USBANK
SYS32000 MONEY 32000MONEY US BANK
SYS32003 MONEY 32003MONEY USBANK
SYS33000MONEY 33000MONEY USBANK
SYS7000MONEY 7000MONEY USBANK
SYS785000 MONEY 785000 MONEY US BANK
SYS785001 MONEY 785001 MONEY US BANK
SYS785002 MONEY 785002 MONEY USBANK
SYS785003 MONEY 785003 MONEY USBANK
SYS798000 MONEY 798000 MONEY USBANK
SYS798002 MONEY 798002 MONEY US BANK
SYS8000MONEY 8000MONEY US BANK
SYS8001 MONEY 8001 MONEY USBANK
CuhTotala
Total Cuh and lnveatments
Data Updated: SET_MSRT: 10/04/2017 13:47 Run Date: 1010412017 · 13:<48
Par ValUe
183,541.06
1,102,330.n
5,081,390.02
181,415.15
119,122.42
88,631.98
43,596.90
31,984.34
915,579.61
3,836,21 0.39
0.00
155.80
5,924.11
0.00
0.00
723,917.58
1,044,867.82
8,429.95
13,144,897.80
35,485,897.50
MSR Public Power Agency Trust Portfolio Management
Investment Status Report - Cash September 30, 2017
Stated ~ PurchiH YTII YTM Payment Rate Dele Date 360 36& Dltea
0.880 0.8!18 0.880 0Ml1 - Monthly
0.880 0.888 0.880 01/01 • Monthly
0.880 0.888 0.880 01/26- Monthly
0.880 0.888 0.880 08/01 - Monthly
0.880 0.888 0.880 05/01-Monthly
0.880 0.888 0.880 08/01 -Monthly 0.880 0.868 0.880 05/01 - Monthly
0.880 0.888 0.880 08101 - Monthly 0.880 0.888 0.880 09/01 - Monthly 0.880 0.8118 0.880 01101 - Monthly
0.880 0.8118 0.880 04/01 -Monthly
0.880 0.888 0.880 06/01 - Monttlly
0.880 0.868 0.880 08/01 - Monthly
0.880 0.888 0.880 05/01 - Monthly
0.880 0.888 0.880 05/01-Monthly
0.880 0.888 0.880 08101 -Monthly
0.880 0.868 0.880 o 1/01 - Monthly
0.880 0.888 0.880 05/01 - Monthly
1.378 1.3115
Accrued lntefat Cumnt AtPun:hue Principal
183,541.06
1,102,330.77
5,061,390.02
181,415.15
119,122.42
86,631.98 43,596.90
31,984.34
915,579.81 3,836,21 0.39
0.00
155.60
5,924.11
0.00
0.00
723,917.58
1,044,687.62
8,4~.95
0.00 13,14ot,817.50
0.00 35,155,098.58
Page2
BoolcValue
183,541.06
1,1 02,330.77
5,081,390.02
181,415.15
119,122.42
86,631 .98
43,596.90
31,984.34
915,579.81 3,838,210.39
0.00
155.80
5,924.11
0.00
0.00
723,917.58
1 ,044,887.82
8,429.95
13, 14ot,897 .so 35,855,095.58
Portfolio MSRT
CP PM (PRf _PMS) 7.3.0
CUSIP Investment## Issuer
Passbook/Checking Accounts (Monthly Summary)
SYS30000 MONEY 30000M0NEY U.S. Bank Corporate Trust SYS30001 MONEY 30001 MONEY U.S. Bank Corporate Trust SY$30002 MONEY 30002 MONEY u.s. Bank Corporate Trust
SYS30003 MONEY 30003MONEY U.S. Bank Corporate Trust SYS31000 MONEY 31DOOMONEY U.S. Bank Corporate Trust SYS31003 MONEY 31003 MONEY u.s. Bank Corporate Trust
SYS32000 MONEY 32000MONEY U.S. Bank Corporate Trust SYS32003 MONEY 32003MONEY U.S. Bank Corporate Trust SYS33000MONEY 33000MONEY U.S. Bank Corporate Trust
SYS7000MONEY 7000MONEY U.S. Bank Corporate Trust SYS785001 MONEY 785001 MONEY U.S. Bank COipOr&te Trust SY$785002 MONEY 785002 MONEY U.S. Bank Corporate Trust
SYS798000 MONEY 798000 MONEY U.S. Bank Corporate Trust SYS798002 MONEY 798002 MONEY U.S. Bank Corporate Trust SYSBOOOMONEY 8000MONEY U.S. Bank Corporate Trust
SYSB001 MONEY 6001 MONEY U.S. Bank Cofpofate Trust
Subtotal
Federal Agency Issues - Coupon
Subtotal
Total
Data Updated: SET_MSRT: 1010412017 13:47 Run Date: 10104/2017- 13:48
MSR Public Power Agency Trust Portfolio Management
Activity By Type September 1, 2017 through September 30,2017
Beginning Siaieci Tn~nsactlon Purchases Balance R.t8 Date or Deposits
0.880 2,047,947.06
0.880 388,397.18
0.880 1,883,297.72
0.880 106.72
0.880 33,383.25
0.880 51 .01
0.880 22,882.71
0.880 18.92 0.880 26,975.94
0.880 1,383,107.06
0.880 0.12 0.880 4.41
0.880 230,788.20
0.880 228,263.93 0.880 492,079.80
0.880 2,744.70
10,1134,887.14 8,518,008.73
22,610,198.08
33,345,081.22 11,518,008.73
Redemptions or Wlthdt'aw*
2,047,810.48
0.00
0.00
0.00
33,274.61 0.00
22,850.27
0.00
0.00
1,381,814.81
0.00
0.00
230,788.20
0.00
491,860.00
0.00
4,207,978.37
4,207,978.37
Ending Balance
13,144,897 .so
22,110,198.08
38,855,098.58
Page 1
Portfolio MSRT CP
PM (PRF _PM3) 7.3.0
Report Ver. 7 .3.5
Date Received CUSF
September 2017 3136G38J9
Data Updated: SET_MSRT: 10/0412017 13:47 Run Date: 10104/2017 - 13:48
MSR Public Power Agency Trust Received Interest
Sorted by Date Received Received September 1, 2017- September 30,2017
Par Cunent Interest
Modesto Irrigation District 1231 - 11th St.
Modesto, CA 95352 (209)5'6-7308
lnv..unent• Security Type Value Rata Data Due Date Received Amount Due Amount Received Variance
17314 FAC 3,700,000.00 1.450 09/29/2017 09/29/2017 26,825.00 ------SUbtOtal 26,825.00
Total
Total Ca~h Overpayment
Yotel Cash ShortfaA
211,825.00
0.00
0.00
28,825.00
21,125.00
25,825.00
Portfolio MSRT CP
Rl {PRF _RI) 7. 1.1 Report VfK. 7.3.5
Date Received CUSIP
Cash Accounts
September 2017 SYS30000 MONEY SYS30001 MONEY SYS30002 MONEY
SYS30003 MONEY
SYS31 000 MONEY SYS31003 MONEY
SYS32000 MONEY SYS32003 MONEY SYS33000MONEY
SYS7000MONEY SYS785001 MONEY SYS785002 MONEY
SYS796002 MONEY SYSSOOOMONEY SYS8001 MONEY
Data Updated: SET_MSRT: 10/04/2017 13:47 Run Dele: 1010412017 · 13:48
Investment tl
30000MONEY 30001 MONEY 30002 MONEY
30003MONEY 31000MONEY 31003 MONEY
32000MONEY 32003MONEY 33000MONEY
7000MONEY 785001 MONEY 785002 MONEY
798002 MONEY BOOOMONEY 8001 MONEY
MSR Public Power Agency Trust Received Interest
Received September 1, 2017 ·September 30,2017
security i"ar Current . · -·- ·- - -···· . .. Type Value Rate Date Received
PA1 183,5.41.06 0.880 09/0112017 PA1 1,102,330.77 0.880 09/0112017 PA1 5,061 ,390.02 0.880 0910112017
PA1 181,415.15 0.860 09/0112017
PA1 119,122.42 0.880 09/0112017 PA1 86,831.98 0.880 09/0112017
PA1 43,598.90 0.860 09/0112017 PA1 31,984.34 0.880 09/0112017 PA1 915,579.61 0.880 09/0112017
PA1 3,636,210.39 0.860 09/0112017 PA1 155.60 0.880 0910112017 PA1 5,924.11 0.880 09/0112017
PA1 723,917.58 0.880 0910112017 PA1 1,044,887.62 0.880 09/0112017 PA1 8,429.95 0.880 09/0112017
Subtotal
Total
I merest
Amount Received
136.58 337.24
1,5.47.18
106.72
88.64 51.01
32.44
18.92 150.94
1,492.25 0.12 4.41
237.78 419.80
2.65
4,1126.68
4,1126.88
Page2
Portfolio MSRT CP
Rl (PRF_RI) 7.1.1 Report Var. 7 .3.5
lnvesbnent #
luuer
No Sales or Maturities
lnv. Type
Purchase Date
Data Updated: SET_MSRT: 10/0412017 13:47 Run Date: 10104/2017-13:48
MSR Public Power Agency Trust Realized Gains and Losses Sorted By Maturity/Sale/Call Date
Sales/Calls/Maturities: September 1, 2017- September 30,2017
Par Value Sale Date
Current Rate Maturity Date
0.00
Day1 Held
Term
0
Book Value
0.00
Maturity/Sale Proceeds
0.00
ReaiiUd Gain/LoU
0.00
Total Earnings
0.00
Modesto Irrigation District 1231 - 11th St.
Modesto, CA 95352 (209)526-7308
Total Total Net Eamlnp Yield 365
0.00
Portfolio MSRT CP
CG(PRF _CGR1)7.1.1 Report Ver. 7.3.5
Treasurer’s Report OCTOBER 2017
M-S-R Public Power Agency Treasurer’s Report
Index
i
Treasurer’s Report for the Month of October 2017
Investment Portfolio Pie Chart
MSR / LAIF / US Treasury 2-Year
Average Maturity Report
General Fund:
Portfolio Summary
Portfolio Details – Investments
Portfolio Details – Cash
Investment Status Report – Investments
Investment Status Report – Cash
Investment Activity by Type
Activity Report LAIF
Received Interest
Trust Funds:
Portfolio Summary
Portfolio Details – Investments
Portfolio Details – Cash
Investment Status Report – Investments
Investment Status Report – Cash
Investment Activity by Type
Received Interest
Realized Gains and Losses
Purchases Report
Corp Medium Term Notes5.75%
Federal Agency Issues0.00%
Managed Pool Accounts (LAIF)
94.25%
M‐S‐R Public Power AgencyInvestment Portfolio October 2017
1.155
1.6
0.94
0
0.5
1
1.5
2
2.5
3
Earnings Rate
MSR / LAIF / US Treasury 2‐YearOctober 2017
MSR LAIF Treas Cons Matr 2Yr MSR Avg
0
100
200
300
400
500
600
Days
General Fund PortfolioAverage Maturity Report
Weighted Average Maturity
MSR Treasurers Report Spreadsheet 2017
Investments
Managed Pool Accounts
Corporate Medium Term Notes
Investments
Cah
Passbook/Checking (not Included In yteld calculations)
Total Cash and Investments
Total Earnings October31 Current Year
Average Dally Balance
Effective ~te of Return
Scott Van Vuren, Treasurer
Reporting pertod 10/01/2017-10/31/2017 Data Updated: SET_MSRG: 11/07/2017 14:10 Run Date: 11107/2017 -14:11
Par Value
32,998,97 4.27
2,000,000.00
34,998,974.27
499,278.48
35,498,250.73
Month Ending
35,082.78
35,972,801.48
1.15%
MSR Public Power Agency Portfolio Management
Portfolio Summary October 31, 2017
MarMt Book Value Value
32,998,974.27 32,998,974.27
2,000,100.00 2,014,606.88
34,999,074.27 35,013,581.15
499,278.48 499,278.46
35,498,350.73 35,512,857.61
Fiscal Year To Date
148,795.17
%of Portfolio
94.25
5.75
100.00%
Days to Tenn Maturtty
1
1,847 76
107 5
107 5
Modesto Irrigation District 1231 -11th St.
Modesto, CA 95352 (209)526-7308
YTM 365Equlv.
1.143
1.350
1.155
0.000
1.155
Portfolio MSRG CP
PM (PRF _PM1) 7.3.0 R-s>ort Ver. 7.3.5
Average CUSIP Investment tl !ee!ler Saianee
Managed Pool Accounts
SYSLAIF LAIF Local Agency Investment Fund
Subtotal and Aver.ge
Corporate Medium Tenn Notes
94974BFGO 16709 Wells Fargo & Company
Subtotal and Average
Total and Avetage
Data Updated: SET_MSRG: 11/0712017 14:10 Run OMfl: 1110712017 -14:11
33,583,945.98
2,014,608.88
35,972,801.411
MSR Public Power Agency Portfolio Management
Portfolio Details - Investments October 31, 2017
Purchase Dete Par Value M"ket Value
32,998,9R27 32,998,974.27
32,998,974.27 32,998,974.27
1212612012 2,000,000.00 2,000,1 00.00
2,000,000.00 2,000,100.00
34,998,974.27 34,999,074.27
suted Book Value Rate
32,998,974.27 1.143
32,998,974.27
2,014,606.88 1.500
2,014,1106.88
35,013,581.15
Page 1
YTM O.,.to lhturtty S&P 365 Maturity Date
---~43 ___ 1
1.143
1.350 76 01/1812018 ---1.350
1.155
76
5
Portfolio MSRG CP
PM (PRF _PM2) 7.3.0
Report Ver. 7.3.5
CUSIP lnYHtment# IUUilr
Passbook/Checking Accounts
SYSGENERALFUND GENERAL FUND Union Bank of California
Average Balance
Total Cuh and Investments
Data Updated: SET_MSRG: 11/07/201714:10 Run Data: 11/0712017-14:11
Average Balance
o.oo 35,972,601A8
MSR Public Power Agency Portfolio Management Portfolio Details- Cash
October 31, 2017
Purchase D8te Par Value Martcet Value
01101/1999 499,276.48 499,278.46
35,498,250.73 35,ol98,350.73
Stated Book Value Rate
499,276.48
35,512,857.61
S&P
Page2
YTM Days to 365 Maturtty
0.000
1.155 5
Portfolio MSRG CP
PM (PRF _PM2) 7.3.0
CUSIP
Managed Pool Accounts
SYSLAIF LAIF LA IF
Managed Pool Account. Totals
Corporate Medium Term Notes
94974BFGO 18709 WELLS
Corporate Medium Term Notes Totals
Investment Totals
Data Updated: SET_MSRG: 11/071201714:10 Run Dale: 1110712017 - 14:11
MSR Public Power Agency Portfolio Management
Investment Status Report - ! nvestments October 31, 2017
Staacl Maturity Purchase P• Velue Rate Oate Dete
YTM 360
YTM 365
P~ent Dates
32,998,974.27 1.143 1.127 1.143 01115 • Quarterly ----32,998,974.27 1.127 1.143
2,000,000.00 1.50001/1612018 12/2e/2012 1.332 1.350 07116.01/18 ----2,000,000.00 1.332 1.350
3.,918,17U7 1.139 1.155
Accrued Interest AtPurdlaH
0.00
0.00
0.00
Current Principal
32,998,97·U7
32,998,974.27
2, 014,606.88
2,014,106.81
35,013,581.15
Page 1
Book Value
32,998,974.27
32,998,974.27
2,014,601!.88
2,014,601.81
35,013,581.15
Portfolio MSRG CP
PM (PRF _PMS) 7.3.0 R11p0rt Ver. 7.3.5
CUSIP Investment II lsauer
Passbook/Checking Accounts
SYSGENERALFUND GENERALFUNO UBC
Cash Totals
Total C.ah and lnvestmtnta
Data Updated: SET_MSRG: 11/07/2017 14:10 Run Dale: 1110712017-14:11
MSR Public Power Agency Portfolio Management
Investment Status Report ~ Cash October 31, 2017
Stated Maturtty Purchase Par Value Rate Date Date
YTM 360
YTM 365
499,278.48 01101/1999 0.000 0.000
499,278.46
35,4911,250.73 1.139 f .165
Payment Accrued lntertet Dates AtPun:haN
I -Monthly
0.00
0.00
cunent Principal
499,278.46
499,278.48
35,512,857.61
Page2
Book Value
499,278.48
499,278.48
35,!512,857 .61
Portfolio MSRG CP
PM (PRF _PMS) 7.3.0
MSR Public Power Agency Portfolio Management
Activity By Type October 1, 2017 through October 31, 2017
CUSIP ... .,., Managed Pool Accounts (Monthly Summary)
Beginning Blllanc:~
SYSLAIF LAIF local A!Jertollnvestme--._nt_F .... und ____ _
Subtotal 34,808,48U2
Passbook/Checking Accounts (Monthly Summary)
SYSGENERAL FUND GENERAL FUND Union Bank fA Ca~fomla
Subtotal
Corporate Medium Term Notes
Subtotal
Data Updated: SET_MSRG: 11107/201714:10 Run Dllte: 11.10712017- 14:11
Total
390,541.00
2,014,808.88
37,013,13UO
Purch .... orDepoalta
1.143 1,090,489.75
1,090,489.75
108,735.46
108,735.46
1,199,225.21
Re<Mmptlo~ or Wlthdra-ls
2,700,000.00
2,700,000.00
0.00
0.00
2,700,000.00
Ending Balance
32,998,974.27
499,276.48
2,014,606.88
35,512,857.81
Page 1
Portfolio MSRG
CP PM (PRF _PM3) 7.3.0
Report Ver. 7.3.5
Percent CUSIP Investment I Issuer of Portfolio
Issuer: Local Agency Investment Fund
MSR Public Power Agency Activity Report
lssuer:LocaiAgencylnvesbnentFund October 1, 2017 ~October 31, 2017
Par Value
Beginning Current Transaction Balance R.t. Date
Managed Pool Accounts
SYSlAIF lAIF Local Agency Investment Fund 1.143
Subtotal and BalanCe
lnuer Subtotal 92.959%
Data Updated: SET_MSRG: 11/0712017 14:10 Run Date: 11/0712017 - 14:11
Tote I
------34,608,484.52
3".608,484.52
34,8011,484.52
Purchases or Deposits
1,090,489.75
1,090,489.75
1,090,489.75
1,090,489.75
Par Value
Redemptions or Withdrawals
2,700,000.00
2,700,000.00
2,700,000.00
2,700,000.00
Modesto Irrigation District 1231 -1 1th St.
Modesto, CA 95352 (209)526-7308
Ending Balance
32,918,974.27
32,998,974.27
32,998,97 ... 27
Portfolio MSRG CP
OA (PRF _DA) 7.2..0 Repoo1 Vw. 7.3.5
Date Received CUSIP
Cash Accounts
October 2017 SYSLAIF
Data Updated: SET_MSRG: 11/07/2017 14:10 Run Ollie: 11/0712017 · 1•:11
MSR Public Power Agency Received Interest
Sorted by Date Received Received October 1, 2017 ~October 31, 2017
Investment I
LAIF
Security Type
LA1
P1tr c~.~rrent Value Rate
31,998,1174.27 1.143
Date Received
1011312017
Subtotal
Total
Interest
Modesto Irrigation District 1231 -11th St.
Modesto, CA 95352 (209)526-7~01\
Amount Received
110,489.75
10,489.75
90,489,75
Portfolio MSRG
CP Rl (PRF _RI) 7.1.1 Report Ver. 7.3.5
Investments
Federal Agency Issues- Coupon
Federal Agency Issues- Discount
Investments
Cash Pasabook/Checklng (not included in yield calculationa)
Total Cnh and I1"1Y811tments
Total Earnings October31
Current Year
Avel'llge Daily Balance
Effec:tive Rate of Retum
Scott Van Vuren, Treasurer
Reporting period 10/01/2017-10/31/2017 Data Updated: SET_MSRT: 11/081201713:08 Run DIM: 1110812017 - 13:09
P• Vlllue
22,341 ,000.00
9,193,000.00
31,534,000.00
6,253,609.54
37 '787 ,609.54
Month Ending
40,282.14
36,175,516.17
1.31%
MSR Public Power Agency Trust Portfolio Management
Portfolio Summary October 31, 2017
... rket Book v .. ue Ylllue
22,147,445.94 22,510,198.08
a,1n,sss.1e 9,178,089.56
31,325,001.70 31 ,886,267.64
6,253,609.54 6,253,609.54
37,578,611.24 37,939,877.18
Ascal Year To Date 385,099.42
%of Portfolio Tenn
71.04 1,568
28.98 65
100.00% 1,133
1,133
Days to Maturtty
825
58
603
603
Modesto Irrigation District 1231 - 11th St.
Modesto, CA 95352 (209)526-7308
YTM 365Equlv.
1.3g5
1.038
1.291
0.890
1.291
Portfolio MSRT CP
PM (PRF _PM1) 7.3.0
Report Ver. 7 .3.5
Average CUSIP lnve.tment. loauer Balllnc;e
Federal Agency Issues - Coupon
3135GOZA4 17159 Federal Nafl Mig. AMOC. 3135GOZA4 17160 Federal Net'l Mig. Assoc. 3135G02A4 17181 Federal Nat'l Mtg. Assoc.
3135GOF73 17244 Federal Nafl Mtg. Assoc.
3136G3NG8 17283 Federal Nan Mig. Assoc. 3138G36J9 17314 Federal Nat'l Mig. Assoc.
3134GAHL1 17313 Fed Home Loan Mortgage Corp
Subtotaii.IICI Avetege
Federal Agency Issues - Discount
313589RC9 17369 FNMA Discount Note 313589RC9 17370 FNMA Discount Note 313589RC9 17371 FNMA Dilccunt Note 313589RC9 17372 FNMA Discount Note
Subtotal end Average
Total end Average
Data Updated: SET_MSRT: 11/08/2017 13:08 Run o.te: 11.()SI2017 - 13:09
22,510,191.01
2.072,015.71
31,175,111.17
MSR Public Power Agency Trust Portfolio Management
Portfolio DetiiUa - Investments October 31, 2017
Pur'cMM oa Per Value Market Value
01/1212015 2,995,000.00 3,007,998.30 01/1212015 1,085,000.00 1,089, 708.90 0111212015 1!,291,000.00 8,318,302.94
11/3012015 3,000,000.00 2,975,040.00
0512512016 1,270,000.00 1,240,586.80 09129/2016 3,700,000.00 3,578,529.00
09/07/2018 4,000,000.00 3,937,280.00
22,341,000.00 22,1.t7,....a.M
1012512017 1,471,000.00 1,468,528.72
1012512017 6,757,000.00 8,745,848.24 10/2512017 11,000.00 10,981.52 10/2512017 954,000.00 952,3117.28
1 ,193,000.00 9,177,555.76
31,53-1,000.00 31,325,001.70
StAitad Book Value Rete
3,056,337.80 1.875 1,107,220.80 1.875 6,419,839.68 1.875
2,95e,800.00 1.500
1,270,000.00 1.200 3,700,000.00 1.450
4,000,000.00 1.200
22,510,111.01
1,488,290.91 1.020
6,744,555.86 1.020 10,1179.74 1.020
952,243.05 1.020
9,171,069.56
31,681,287.64
Page 1
Y11l O.,Sto M*lrity S&P 365 M.turfty Date
M+ 1.380 475 02/1912019 M+ 1.31!0 475 02/19/2019 M+ 1.31!0 475 02/19/2019
1.802 1 ,125 1113012020
1.200 929 05/1812020 1.450 1,428 09/29/2021
1.200 937 05/2612020 ----1.315 125
1.038 58 1212912017
1.038 58 12129/2017
1.036 58 12129/2017 1.036 58 12129/2017 ---------1.031
1.291
58
603
Portfolio MSRT
CP PM (PRF _PM2) 7.3.0
Report Ver. 7.3.5
CUSIP lnvwtmentf# lpuer
Passbook/Checking Accounts
SYS30000 MONEY 30000MONEY U.S. Bank Corporate Trust SYS30001 MONEY 30001 MONEY U.S. Bank Corporate Trust SYS30002 MONEY 30002 MONEY U.S. Bank Corporate Trust
SYS30003 MONEY 30003MONEY u.s. Bank Corporate Trust
SYS31000 MONEY 31000MONEY U.S. Bank Corporate Trust SYS31 003 MONEY 31003MONEY U.S. Bank Corporate Trust
SYS32000 MONEY 32000MONEY U.S. Bank Corporate Trust SYS32003 MONEY 32003MONEY u.s. Bank COrporate Trust SYS33000MONEY 33000MONEY U.S. Bank Corporal8 Trust
SYS7000MONEY 7000MONEY U.S. Bank Corporate Trust SYS785000 MONEY 785000 MONEY U.S. Bank Corporate Trust SYS785001 MONEY 785001 MONEY U.S. Bank Corporate Trust
SYS785002 MONEY 785002 MONEY U.S. Bank Corporate Trust SYS786003 MONEY 785003 MONEY u.s. Bank Corporate Trust SYS798000 MONEY 798000 MONEY U.S. Bank Corporate Trust
SYS798002 MONEY 798002 MONEY u.s. Bank Corporate Trust
SYSBOOOMONEY BOOOMONEY U.S. Bank Corporate Trust SYS8001 MONEY 8001 MONEY u.s. Bank Corporate Trust
Average Balance
Total Cash and Investments
Data Updated: SET_MSRT: 11/08/201713:08 Run Date: 1110812017-13:09
Avenge Balance
0.00
36,175,616.17
MSR Public Power Agency Trust Portfolio Management Portfolio Details - Cash
October 31, 2017
Purc:hue Data Par Value Market Value
183,674.25 183,874.25 887.40 687.40
1,282.11 1,282.11
181,546.80 181,546.80 119,208.88 119,208.88 88,694.85 86,894.85
43,828.54 43,828.54 32,007.55 32,007.55
915,728.00 915,728.00
3,637,882.06 3,837,882.08
0.00 0.00 155.71 155.71
5,928.41 5,928.41 0.00 0.00 0.00 0.00
93.74 93.74 1,045,098.47 1,045,098.47
198.79 196.79
37,787,609.54 37,5711,611.U
Stabld Book Value R.ta
183,874.25 0.890 887.40 0.890
1,282.11 0.890
181,546.80 0.890 119,208.86 0.890 88,894.85 0.890
43,628.54 0.890 32,007.55 0.890
915,728.00 0.890
3,837,682.06 0.890
0.00 0.890 155.71 0.890
5,928.41 0.890
0.00 0.890 0.00 0.890
93.74 0.890 1,046,096.47 0.890
198.79 O.BQO
37,939,877.18
S&P
Page2
YT1I 0¥to 3611Maturity
0.890 0.890 0.890
0.890 0.81H) 0.890
0.890 0.890 0.890
0.890 0.8QO 0.890
0.890 0.890 0.890
0.890 0.890 0.81H)
1.291
1
603
Portfolio MSRT CP
PM (PRF _PM2) 7.3.0
CUSIP IIIWstment. .._ Federal Agency Issues ·Coupon
3135GOZM 17159 FNMA
3135GOZA4 17160 FNMA 3135GOZA4 17161 FNMA 3135GOF13 17244 FNMA
3136G3NG6 17283 FNMA 3138G36J9 17314 FNMA 3134GAHL1 17313 FREDMC
Federal Agency Issues • Coupon Totals
Federal Agency lsaues • Discount
313589RC9 17389 FNMDN 313589RC9 17370 FNMDN
313589RC9 17371 FNMDN 313589RC9 17372 FNMDN
Federal Agency lsSUH • Discount Totals
Investment Totals
Data Updated: SET_MSRT: 11/081201713:08 Run 0.: 1110812017-13:09
hrV.aue
2,995,000.00
1,085,000.00
6,291,000.00 3,000,000.00
1,270,000.00
3, 700,000.00 4,000,000.00
22,341,000.00
1,471,000.00 8,757,000.00
11,000.00
954,000.00
11,193,000.00
31,534,000.00
MSR Public Power Agency Trust Portfolio Management
Investment Status Report -Investments October 31, 2017
SUted Maturity Purchue YTM YTM Payment R-. Date one 310 315 Dates
1 .87502/1~19 01/1212015 1.341 1.360 02/19- 08/19
1.875 02/1912019 01/1212015 1.341 1.380 02/19- 08/19
1.875 02/19/2019 01/1212015 1.341 1.360 02/19- 08/19 1.500 1113012020 1113012015 1.n6 1.602 05130 - 11/30
1.200 05/1812020 05/2512016 1.184 1.200 11/18-05/18
1.450 09/29/2021 09129/2018 1.430 1.'150 03/29 - 09/29 1.200 0512612020 0910712018 1.184 1.200 11/26 - 05126 ----
1.37& 1.395
1.020 1212912017 10/25/2017 1.022 1 .038 12/29 ·At Maturity 1.020 1212912017 10125/2017 1.022 1.038 12129 - At Maturity
1.020 1212912017 10/2512017 1.022 1.038 12129 - At Matulity 1.020 121211/2017 10/2512017 1.022 1.038 12129-AtMaturity --1.022 1.036
1.274 1.291
Aec:n.ted lnwre•t Current AtPun:hUe Pnnelpl.l
Received 3,056,337.60
Received 1,107,220.80
Received 6,419,839.68 2,956,800.00
1 ,270,000.00
3,700,000.00 Received 4,000,000.00
0.00 22,510,1118.08
1,468,290. 91 6,744,555.86
10,979.74
952,243.05
o.oo •• 178,0811.56
o.oo 31,686,287.84
Page1
Book Value
3,058,337.60
1,107,220.80 6,419,839.68 2,958,800.00
1,270,000.00
3,700,000.00 4,000,000.00
22,110,198.08
1,468,290. 91 6,744,555.86
10,979.74
952,243.05
9,178,089.56
31,688,267.64
Portfolio MSRT
CP PM (PRF _PMS) 7.3.0
ReportVer. 7.3.5
CUSIP Investment II Issuer
Paubook/Checklng Accounts
SYS30000 MONEY 30000MONEY USBANK
SYS30001 MONEY 30001 MONEY USBANK SYS30002 MONEY 30002 MONEY US BANK SYS30003 MONEY 30003MONEY USBAHK
SYS31000 MONEY 31000MONEY US BANK
SYS31003 MONEY 31003 MONEY USBANK SYS32000 MONEY 32000MONEY US BANK
SYS32003 MONEY 32003MONEY USBANK SYS33000MONEY 33000MONEY US BANK SYS7000MONEY 7000MONEY US BANK
SYS785000 MONEY 785000 MONEY USBANK SYS785001 MONEY 785001 MONEY USBANK SYS785002 MONEY 785002 MONEY USBANK
SYS785003 MONEY 785003 MONEY US BANK
SYS798000 MONEY 798000 MONEY USBANK SYS798002 MONEY 798002 MONEY USBANK
SYS8000MONEY 8000MONEY US BANK SYS8001 MONEY 8001 MONEY US BANK
CnhTotals
Total Cnh and Investments
Data Updated: SET _MSRT: 11/08/2017 13:08 Run Date: 1 110B12017- 13:09
Par Value
183,674.25
687.40 1,282.11
181,548.80
119,208.86
86,694.85 43,628.54
32,007.55 915,726.00
3,637,882.06
0.00 155.71
5,928.41
0.00
0.00 93.74
1,045,098.47 198.79
1,253,801.54
37,787,809.54
MSR Public Power Agency Trust Portfolio Management
Investment Status Report ~ Cash October 31, 2017
Stat8d Maturity Pure: hue YTM YTM Payment Rata D.te Data 360 3«15 o.tel
0.890 0.878 0.890 05101 • Monthly
0.690 0.878 0.890 01/01 • Monthly 0.890 0.878 0.890 01/26 • Monthly 0.890 0.878 0.890 08/01 • Monthly
0.890 0.878 0.890 05101 • Monthly 0.890 0.878 0.890 08/01-Monthly 0.890 0.878 0.890 05101 - Monthly
0.890 0.878 0.890 08/01 • Monthly 0.890 0.878 0.890 09/01 - Monthly 0.8110 0.878 0.890 01101 - Monthly
0.890 0.878 0.890 04/01 - Monthly 0.890 0.878 0.890 06/01 - Monthly 0.890 0.878 0.890 08/01 - Monthly
0.890 0.878 0.890 05/01 - Monthly 0.890 0.878 0.890 05101 -Monthly 0.890 0.878 0.890 08/01-Monthly
0.890 0.878 0.890 01/01 - Monthly 0.890 0.878 0.890 05101 - Monthly
1.274 1.291
Accrued Interest Cu~nt At.Purchaae Prinelpal
183,674.25
687.40 1,282.11
181,548.80
119,208.86 86,694.85 43,628.54
32,007.55 1115,726.00
3,637,882.08
0.00 155.71
5,928.41
0.00
0.00 93.74
1,045,098.47
196.79
o.oo 8,253,809.54
0.00 37,939,877.18
Page2
Book Value
183,674.25
687.40 1,282.11
181,546.80
119,208.86
86,694.85 43,628.54
32,007.55 915,726.00
3,637,882.06
0.00
155.71 5,928.41
0.00
0.00 93.74
1,045,098.47 196.79
8,253,601.54
37,1131,877.18
Portfolio MSRT CP
PM (PRF _PMS) 7.3.0
CUSJP Jnvaatm121nt# luu&r
Passbook/Checking Accounts (Monthly Summary)
SYS30000 MONEY 30000MONEY U.S. Bank Corporate Trust
SYS30001 MONEY 30001 MONEY U.S. Bank Corporate Trust SYS30002 MONEY 30002 MONEY U.S. Bank Corporate Trust
SYS30003 MONEY 30003 MONEY U.S. Bank Corporatll Trust SYS31000 MONEY 31000MONEY U.S. Bank Corpora1e Trust SYS31003 MONEY 31003MONEY U.S. Bank Corporate Trust
SYS32000 MONEY 32000MONEY U.S. Bank Corporate Trust SYS32003 MONEY 32003 MONEY U.S. Bank Corporate Trust SYS33000MONEY 33000MONEY U.S. Bank Corporate Trust
SYS7000MONEY 7000MONEY U.S. Bank Corporate Trust
SYS785001 MONEY 785001 MONEY u.s. Bank Corporate Trust SYS785002 MONEY 785002 MONEY U.S. Bank Corporate Trust
SYS798000 MONEY 798000 MONEY u.s. Bank Corporate Trust
SYS798002 MONEY 798002 MONEY U.S. Bank Corporate Trust SYSBOOOMONEY 8000MONEY u.s. Bank Corporatll Trust
SYS8001 MONEY 8001 MONEY U.S. Bank Corporate Trust
Subtotal
Federal Agency Issues ·Coupon
Subtotal
Federal Agency Issues - Discount
313589RC9 17389 FNMA Oiscount Note
313589RC9 17370 FNMA Discount Note 313589RCg 17371 FNMA Discount Note
313589RC9 17372 FNMA Discount Note
Sublotlll
Total
Data Updated: SET_MSRT: 11/081201713:08 Run Dale: 1110812017 -13:09
MSR Public Power Agency Trust Portfolio Management
Actavity By Typo October 1, 2017 through October 31, 2017
Beginning St.ted T111nuctlon Purchlaes Balance Ra~ Date orDepoalls
0.890 2,047,943.87
0.890 31!6,847.54 0.890 1,684,447.95
0.890 131.85 0.890 33,381.05 0.890 82.87
0.890 22,881.91
0.890 23.21 0.890 146.39
0.890 1,716,592.92
0.890 0.11 0.890 4.30
0.890 230,768.20
0.890 228,419.21 0.890 481 ,935.85
0.890 2,746.58
13,1...,897.150 6,8111,113 •• 1
22,510,198.08
1.020 1012512017 1,468,290.91
1.020 1012512017 8,744,555.88 1.020 1012512017 10,979.74
1.020 10/2512017 952,243.05
0.00 9,176,061.511
35,155,095.&8 15,992,182.17
Redemptions or Withdrawals
2,047,810.48
1,488,290.91 8,744,555.88
0.00
33,274.81 0.00
22,850.27
0.00 0.00
1,715,121.25
0.00 0.00
230,768.20
952,243.05 481,507.00
10,979.74
13,707,<101.37
0.00
0.00 0.00
0.00
0.00
13,707,401.37
Ending Balance
11,253,609.5<1
22,510,198.08
9,176,0119.56
37,939,877.18
Page1
Portfolio MSRT
CP PM (PRF _PM3) 7.3.0
Report Ver. 7.3.5
Date Received CUSIP
Cash Accounts
October 2017 SY$30000 MONEY SYS30001 MONEY SYS30002 MONEY
SY$30003 MONEY SY$31000 MONEY SYS31003 MONEY
SYS32000 MONEY SY$32003 MONEY SYS33000MONEY
SYS7000MONEY SY$785001 MONEY SY$785002 MONEY
SY$798002 MONEY SYSBOOOMONEY SYS8001 MONEY
Data Updated: SET_MSRT: 11/081201713:08 RL11 Date: 1110812017- 13:09
MSR Public Power Agency Trust Received Interest
Sorted by Date Received Received October 1, 2017 • October 31, 2017
Security P•r Cumnt lnVIstment tl Type V•lue R81e Dllte Received
30000MONEY PA1 183,674.25 0.8110 10/0212017 30001 MONEY PA1 687.40 0.890 10/0212017 30002 MONEY PA1 1,282.11 0.890 1010212017
30003MONEY PA1 181,548.80 0.890 10/0212017 31000 MONEY PA1 119,208.86 0.890 10102/2017 31003MONEY PA1 86,694.85 0.890 10/0212017
32000MONEY PA1 43,628.54 0.890 10/0212017 32003MONEY PA1 32,007.55 0.890 10102/2017 33000MONEY PA1 915,728.00 0.890 1010212017
7000MONEY PA1 3,637,682.06 0.890 1010212017 785001 MONEY PA1 155.71 0.890 10102/2017 785002 MONEY PA1 5,928.41 0.890 10102/2017
798002 MONEY PA1 93.74 0.890 10/0212017 BOOOMONEY PA1 1,045,098.47 0.890 10/0212017 8001 MONEY PA1 1116.79 0.890 10/0212017
Subtotal
Total
Interest
Modesto Irrigation District 1231 -11th St.
Modesto, CA 95352 (209)526-7308
Amount Received
133.19
587.60 2,697.41
131.65 86.44 62.87
31.84 23.21
146.39
1,471.67
0.11 4.30
393.06 428.85
4.53
6,202.12
6,202.92
Portfolio MSRT CP
RI(PRF_RI)7.1.1 Report Ver. 7.3.5
Investment 11
Iauer
No Sales or Maturities
lnv. Type
Pur.:hue Date
Data Updated: SET_MSRT: 11/08/2017 13:08 Run D.te: 11108/2017 -13:09
Par Value
MSR Public Power Agency Trust Realized Gains and Losses Sorted By Maturity/Sale/Call Date
Sales/Calls/Maturities: October 1, 2017- October 31, 2017
Sale oat&
Current Rate Maturity Date
Days Held
Term Book Value Maturity/Sale
Proceeds
0.00 0 0.00 0.00
Realized Gain/Loss
0.00
Total l!amlngs
0.00
Modesto Irrigation District 1231 -11th St.
Modesto, CA 95352 (209}526-7308
Total Total Net Earnings Yield 365
0.00
Portfolio MSRT CP
CG (PRF _CGR1) 7.1.1
Report Ver. 7.3.5
CUSIP lnvntment t Fund
313589RC9 17369 30001
313589RC9 17370 30002
313569RC9 17371 8001 313589RCII 17372 798002
Data Updated: SET_MSRT: 11/08/201713:08 R.n DaiM: 1110e12017 -13:09
aec. Type Issuer
FAD FNMDN
FAD FNMDN FAD FNMON FAD FNMDN
Total Pun:haes
MSR Public Power Agency Trust Purchases Report
Sorted by Purchase Date - Investment Number October 1. 2017 - October 31, 2017
Orig;nal Purchase Principal Par Value Date payment Periods Purchned
1,471 ,000.00 10125/201712129 - At Malllity 1 ,<168,290.91
6,757,000.00 101251201712129 - At Matulity 6,744,555.86
11,000.00 1 0125120171212G - At Maturity 10,979.74 954,000.00 101251201712129-AtMaturily 952,243.05
9,193,000.00 9,1711,069.56
Ac:erued interest Rate It llliaturlty It Purchne Purc:hHe Oat.
1.020 1212912017
1.020 1212912017
1.020 12129/2017 1.020 12129/2017
O.DO
Modesto Irrigation Distrid 1231 -11th St.
Modesto, CA 95352 (209)526-7308
YTM 365
1.036
1.036
1.036 1.036
Ending Book Value
1,<168,290.91
6,744,555.86
10,979.74 952,243.05
9,176,069.56
Portfolio MSRT CP
PU (PRF _PU) 7.1.1 Report Vw. 7.3.5
M-S-R Public Power Agency Staff Report
Date: November 8, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: November 2017 San Juan Fuel Consumption Status Report Pursuant to Section 5.6, “Exiting Participant Dispatch Requirements; Invoicing” of the San Juan Project Restructuring Agreement, M-S-R PPA is required to dispatch its share of San Juan Unit No. 4 at an annual capacity factor of not less than 85% of the Unit’s Equivalent Availability Factor (EAF) through the Exit Date. With generation reported through September 30, 2017 M-S-R PPA has met this requirement and accrued a positive compliance margin as shown below: Through September 30, 2017 Required Achieved Margin
YTD Capacity Factor 74.18% 82.91% 8.73% Cumulative Generation (kWh) 709,700,000 793,200,000 83,500,000
The attached chart also illustrates the Agency’s status in meeting these requirements through the end of 2017. I recommend the Commission note and file the November 2017 San Juan Fuel Consumption Status Report.
11/8/17 Coal Consumption Review 10-15-17.xlsx
-
200,000,000
400,000,000
600,000,000
800,000,000
1,000,000,000
1,200,000,000
1,400,000,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
kWhGen
era*
on
SanJuanUnit4DispatchRequirementsCummula*veThroughSeptember30,2017
CumlBudgetkWh
CumlReq'dkWh
CumlAchievedkWh
M-S-R Public Power Agency Staff Report
Date: November 8, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Technical Committee Subject: November 2017 San Juan Balancing Account Status Report M-S-R PPA has two major balancing accounts associated with the operations of the San Juan Project: a Deviation Account with Public Service Company of New Mexico (PNM) under the M-S-R/PNM Interconnection Agreement which reconciles scheduled and actual unit generation; and a Balancing Account with Tucson Electric Power Company (TEP) for the Reserve Sharing under Service Schedule E to the M-S-R/TEP Interconnection Agreement. The balance in the Deviation Account is small and regularly trued-up. Historic balances and projections for the Deviation Account are shown on the attached chart. Pursuant to the Letter Agreement Terminating Operating Procedure No. 1 between PNM and M-S-R any balance remaining in the Deviation Account as of the Exit Date will be cashed out at a Palo Verde index price. M-S-R PPA is currently returning energy to TEP at a rate of about 27 MWh/hr in off-peak hours and TEP is returning energy to M-S-R PPA at a rate of about 7 MWh/hr in peak hours consistent with the requirement in Service Schedule E that energy be returned in like hours. The M-S-R Coordinator has reviewed the Member’s progress in returning energy and has concluded that the Agency’s obligations with respect to TEP will be satisfied and each Member’s balances zeroed out by the fourth week of November. Historic balances and projections for the Reserve Share Balancing Account are shown on the attached charts. I recommend the Commission note and file the November 2017 San Juan Balancing Account Status Report.
11/8/17 PNM Balancing Account Status.xlsx
(1,000)
(500)
-
500
1,000
1,500
2,000
2,500
3,000
3,500
MWh
Devia*onAccoun*ngM-S-ROwesPNM(MWh)
M-S-ROwesPNM(MWh)
11/8/17 TEP Balancing Account Status.xlsx
(40,000)
(20,000)
-
20,000
40,000
60,000
80,000
100,000
MWh
ReserveShareAccoun1ngM-S-ROwesTEP(MWh)
On-PeakM-S-RowesTEP(MWh)
Off-PeakM-S-ROwesTEP((MWh)
TotalM-S-ROwesTEP(MWh)
Page 1 of 1
M-S-R Public Power Agency Staff Report
Date: November 8, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Technical Committee Subject: November 2017 WREGIS REC Transfers Status Report In 2013, the General Manager met with Iberdrola Renewables, Inc (now Avangrid Renewables, Inc.) regarding the status of its transfers of Western Renewable Energy Generation Information System (WREGIS) Renewable Energy Credits (RECs) for the Big Horn I and Big Horn II Wind Energy Projects to M-S-R PPA. Ideally, the WREGIS timelines would allow transfers of RECs to M-S-R PPA about 90-days after the close of a reporting month. At the time of that meeting, some transfers were as many as 215-days outstanding. Avangrid has subsequently reviewed its internal procedures and has generally completed Big Horn I and Big Horn II transfers in a timely manner. The attached chart illustrates current and historic status of REC transfers. As requested by the Commission, this report will be updated and presented every other month. I recommend the Commission note and file the November 2017 WREGIS REC Transfers Status Report.
WREGIS Transfer Durations.xlsx 11/8/17
0
90
180
270
360
450
540
630
Jan-08 May-09 Oct-10 Feb-12 Jul-13 Nov-14 Apr-16 Aug-17
Elap
sedTime(Days)
Month
BigHornI&IIRECTransfers
BHIDuraEon
BHIIDuraEon
OpenTransfers
M-S-R Public Power Agency Staff Report
Date: November 7, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: November 2017 Outside Services Budget versus Actual Report Major Legal Providers Reporting Are: Duncan, Weinberg, Genzer, and Pembroke: Through: September 30, 2017 Law Offices of Susie Berlin: Through: September 30, 2017 Porter Simon: Through: October 31, 2017 Major Consulting Providers Reporting Are: Navigant Consulting: Through: September 30, 2017 KBT LLC: Through: September 30, 2017 Detailed charts of monthly budget versus actual cost comparisons for each provider are attached in their usual format. Recommendation: I recommend the Commission note and file this report.
M-S-R PPAAll Legal Summary
11/8/17 2017 Legal Expenses.xlsx
Month of: Oct-2017
By FunctionBudget Current Month
Actual Current Month
Positive Variance
Actual v. Budget % By Function Budget Year
to DateActual Year to
DatePositive Variance
Actual v. Budget %
Generation 10,000 3,300 6,700 33% Generation 100,000 78,710 21,290 79%Gen - Other 417 0 417 0% Gen - Other 4,167 406 3,760 10%Transmission 24,333 88 24,245 0% Transmission 243,333 228,461 14,872 94%Trans - Other 0 0 0 0% Trans - Other 0 7,307 (7,307) #DIV/0!Renewables 5,000 176 4,824 4% Renewables 50,000 51,058 (1,058) 102%Rens - Other 25,000 0 25,000 0% Rens - Other 250,000 249,236 764 100%Administrative 3,333 432 2,901 13% Administrative 33,333 33,651 (318) 101%Total 68,083 3,996 64,087 6% Total 680,833 648,829 32,004 95%
By ProviderBudget Current Month
Actual Current Month
Positive Variance
Actual v. Budget % By Provider Budget Year
to DateActual Year to
DatePositive Variance
Actual v. Budget %
Duncan 53,750 0 53,750 0% Duncan 537,500 537,598 (98) 100%Berlin 8,750 0 8,750 0% Berlin 87,500 64,519 22,981 74%Porter Simon 5,167 3,996 1,170 77% Porter Simon 51,667 46,306 5,360 90%Others 417 0 417 0% Others 4,167 406 3,760 10%Total 68,083 3,996 64,087 6% Total 680,833 648,829 32,004 95%
CURRENT MONTH YEAR TO DATE
-
250,000
500,000
750,000
1,000,000
Jan-2017 Feb-2017 Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017
AllLegal-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
M-S-R PPADuncan Summary
11/8/17 2017 Legal Expenses.xlsx
Month of: Oct-2017
Budget Current Month
Actual Current Month
Positive Variance
Actual v. Budget %
Generation 1,250 0 1,250 0%Gen - Other 0 0 0 0%Transmission 24,167 0 24,167 0%Trans - Other 0 0 0 0%Renewables 3,333 0 3,333 0%Rens - Other 25,000 0 25,000 0%Administrative 0 0 0 0%Total 53,750 0 53,750 0%
Budget Year to Date
Actual Year to Date
Positive Variance
Actual v. Budget %
Generation 12,500 6,569 5,931 53%Gen - Other 0 0 0 0%Transmission 241,667 226,756 14,910 94%Trans - Other 0 7,307 (7,307) #DIV/0!Renewables 33,333 47,730 (14,396) 143%Rens - Other 250,000 249,236 764 100%Administrative 0 0 0 0%Total 537,500 537,598 (98) 100%
CURRENT MONTH
YEAR TO DATE
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
Jan-2017
Feb-2017
Mar-2017
Apr-2017
May-2017
Jun-2017
Jul-2
017
Aug-2017
Sep-2017
Oct-201
7
Nov-2017
Dec-201
7
Duncan-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
M-S-R PPABerlin Summary
11/8/17 2017 Legal Expenses.xlsx
Month of: Oct-2017
Budget Current Month
Actual Current Month
Positive Variance
Actual v. Budget %
Generation 6,250 0 6,250 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 833 0 833 0%Rens - Other 0 0 0 0%Administrative 1,667 0 1,667 0%Total 8,750 0 8,750 0%
Budget Year to Date
Actual Year to Date
Positive Variance
Actual v. Budget %
Generation 62,500 44,630 17,870 71%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 8,333 2,119 6,215 25%Rens - Other 0 0 0 0%Administrative 16,667 17,771 (1,104) 107%Total 87,500 64,519 22,981 74%
CURRENT MONTH
YEAR TO DATE
-
20,000
40,000
60,000
80,000
100,000
120,000
Jan-2017
Feb-2017
Mar-2017
Apr-2017
May-2017
Jun-2017
Jul-2
017
Aug-2017
Sep-2017
Oct-201
7
Nov-2017
Dec-201
7
Berlin-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
M-S-R PPAPorter Simon Summary
11/8/17 2017 Legal Expenses.xlsx
Month of: Oct-2017
Budget Current Month
Actual Current Month
Positive Variance
Actual v. Budget %
Generation 2,500 3,300 (800) 132%Gen - Other 0 0 0 0%Transmission 167 88 79 53%Trans - Other 0 0 0 0%Renewables 833 176 657 21%Rens - Other 0 0 0 0%Administrative 1,667 432 1,234 26%Total 5,167 3,996 1,170 77%
Budget Year to Date
Actual Year to Date
Positive Variance
Actual v. Budget %
Generation 25,000 27,511 (2,511) 110%Gen - Other 0 0 0 0%Transmission 1,667 1,705 (38) 102%Trans - Other 0 0 0 0%Renewables 8,333 1,210 7,123 15%Rens - Other 0 0 0 0%Administrative 16,667 15,880 786 95%Total 51,667 46,306 5,360 90%
CURRENT MONTH
YEAR TO DATE
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
Jan-2017
Feb-2017
Mar-2017
Apr-2017
May-2017
Jun-2017
Jul-2
017
Aug-2017
Sep-2017
Oct-201
7
Nov-2017
Dec-201
7
PorterSimon-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
11/8/17 2017 Input 2017 Legal Expenses.xlsx
Legal Costs - 2016 2017 Budget Reallocated Budget Jan-2017 Feb-2017 Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Total Average Year-End Notes
8.33% 16.67% 25.00% 33.33% 41.67% 50.00% 58.33% 66.67% 75.00% 83.33% 91.67% 100.00% Projection
DWG&PGeneration
SJGS Agreements 20,000 15,000 - 274 - - - 3,128 2,620 234.60 312.80 - - - 6,569 547 6,569 Transmission
FERC Gen'l 300,000 290,000 27,459 26,316 19,113 22,802 22,353 29,317 26,944 27,053.50 25,397.49 - 23,000 23,000 272,756 22,730 272,756 Trans - Other
Other Trans - TRR - - - - - - - - - 4,535.60 2,771.80 - - - 7,307 609 7,307 CASIO Rate Case/SWTPRenewables
BPA/PNW Gen'l 25,000 40,000 6,530 9,931 3,910 2,581 3,754 626 3,374 2,673.10 14,352.14 - 1,000 1,000 49,730 4,144 49,730 Rens - Other
OMP/BPA Rate Case 300,000 300,000 36,982 36,816 63,045 41,700 27,701 16,009 8,434 14,878.00 3,670.94 - 12,500 12,500 274,236 22,853 274,236 645,000 645,000 70,971 73,337 86,068 67,082 53,808 49,080 41,371 49,374.80 46,505.17 - 36,500.00 36,500 610,598 50,883 610,598
11.00% 22.37% 35.72% 46.12% 54.46% 62.07% 68.48% 76.14% 83.35% 83.35% 89.01% 94.67% 95%
Law Offices of Susie BerlinGeneration
AB32/Cap & Trade/SB136825,000 75,000 11,034 6,062 4,272 9,003 5,343 3,773 2,268.90 2,405.15 469.00 - 6,000 6,000 56,630 4,719 56,630 Renewables
RES/RPS 50,000 10,000 972 34 - 101 276 436 100.50 167.50 33.50 - 1,000 1,000 4,119 343 4,119 A&G 10,000 20,000 684 736 1,809 434 3,564 2,111 2,795.13 3,283.00 2,355.40 - 2,000 2,000 21,771 1,814 21,771
85,000 105,000 12,689 6,831 6,081 9,538 9,183 6,319 5,164.53 5,855.65 2,857.90 - 9,000.00 9,000 82,519 6,877 82,519 12.08% 18.59% 24.38% 33.47% 42.21% 48.23% 53.15% 58.72% 61.45% 61.45% 70.02% 78.59% 79%
Others Italics = EstimatesGeneratiion - Other
Montgomery Andrews 5,000 5,000 35 - - - - - - - 370.97 - - - 406 34 406 5,000 5,000 35 - - - - - - - 371 - - - 406 34 406
0.70% 0.70% 0.70% 0.70% 0.70% 0.70% 0.70% 0.70% 8.12% 8.12% 8.12% 8.12% 8%- -
Sub Total 735,000 755,000 83,695 80,168 92,149 76,620 62,991 55,399 46,536 55,230 49,734 - 45,500 45,500 693,523 57,794 693,523 11.09% 21.70% 33.91% 44.06% 52.40% 59.74% 65.90% 73.22% 79.80% 79.80% 85.83% 91.86% 92%
Porter SimonM-S-R PPA
Generation 40,000 30,000 1,254 2,860 2,200 3,476 1,694.00 2,266 2,816.00 3,542.00 4,103 3,300.00 2,500 2,500 32,511 2,709 32,511 Transmission 2,000 2,000 - 462 - - - - - 506.00 649 88.00 - - 1,705 142 1,705
Renewables 10,000 10,000 110 154 418 44 154.00 - - - 154 176.00 1,000 - 2,210 184 2,210 A&G 30,000 20,000 1,968 220 3,099 100 3,295.80 - 3,671.00 - 3,095 432.33 3,000 500 19,380 1,615 19,380
82,000 62,000 3,332 3,696 5,717 3,620 5,143.80 2,266 6,487.00 4,048.00 8,001 3,996.33 6,500 3,000.00 55,806 4,651 55,806 5.37% 11.33% 20.56% 26.39% 34.69% 38.35% 48.81% 55.34% 68.24% 74.69% 85.17% 90.01% 90%
GRAND TOTAL 817,000 817,000 87,026 83,864 97,866 80,240 68,135 57,665 53,023 59,278 57,735 3,996 52,000 48,500 749,329 62,444 749,329 10.65% 20.92% 32.90% 42.72% 51.06% 58.11% 64.60% 71.86% 78.93% 79.42% 85.78% 91.72% 92%
Legal Original 2017
Budget
Legal Revised
2017 BudgetG 85,000 120,000 95,710 95,710 G - Other 5,000 5,000 406 406 T 302,000 292,000 274,461 274,461 T - Other - - 7,307 7,307 R 85,000 60,000 56,058 56,058 R - Other 300,000 300,000 274,236 274,236 A 40,000 40,000 41,151 41,151
817,000 817,000 749,329 749,329
50/35/15 432,000 457,000 419,035 419,035 Renew 385,000 360,000 330,294 330,294
M-S-R PPATotal Outside Consult Summary
11/8/17 2017 Consulting and Outside Service Expenses.xlsx
Month of: Oct-2017
By FunctionBudget Current Month
Actual Current Month
Positive Variance
Actual v. Budget % By Function Budget Year
to DateActual Year to
DatePositive Variance
Actual v. Budget %
Generation 13,667 0 13,667 0% Generation 136,667 123,471 13,196 90%Gen - Other 0 0 0 0% Gen - Other 0 0 0 0%Transmission 1,250 0 1,250 0% Transmission 12,500 6,674 5,826 53%Trans - Other 0 0 0 0% Trans - Other 0 0 0 0%Renewables 12,000 0 12,000 0% Renewables 120,000 104,456 15,544 87%Rens - Other 5,000 0 5,000 0% Rens - Other 50,000 41,840 8,160 84%Administrative 3,750 0 3,750 0% Administrative 37,500 31,234 6,266 83%Total 35,667 0 35,667 0% Total 356,667 307,675 48,992 86%
By ProviderBudget Current Month
Actual Current Month
Positive Variance
Actual v. Budget % By Provider Budget Year
to DateActual Year to
DatePositive Variance
Actual v. Budget %
Navigant 4,583 0 4,583 0% Navigant 45,833 32,731 13,103 71%KBT 27,917 0 27,917 0% KBT 279,167 254,196 24,971 91%Others 3,167 0 3,167 0% Others 31,667 20,748 10,919 66%Total 35,667 0 35,667 0% Total 356,667 307,675 48,992 86%
CURRENT MONTH YEAR TO DATE
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
Jan-2017 Feb-2017 Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017
OutsideServicesConsultants-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
M-S-R PPANavigant Summary
11/8/17 2017 Consulting and Outside Service Expenses.xlsx
Month of: Oct-2017
Budget Current Month
Actual Current Month
Positive Variance
Actual v. Budget %
Generation 417 0 417 0%Gen - Other 0 0 0 0%Transmission 1,250 0 1,250 0%Trans - Other 0 0 0 0%Renewables 2,083 0 2,083 0%Rens - Other 0 0 0 0%Administrative 833 0 833 0%Total 4,583 0 4,583 0%
Budget Year to Date
Actual Year to Date
Positive Variance
Actual v. Budget %
Generation 4,167 2,958 1,209 71%Gen - Other 0 0 0 0%Transmission 12,500 6,674 5,826 53%Trans - Other 0 0 0 0%Renewables 20,833 19,002 1,831 91%Rens - Other 0 0 0 0%Administrative 8,333 4,096 4,237 49%Total 45,833 32,731 13,103 71%
YEAR TO DATE
CURRENT MONTH
-
10,000
20,000
30,000
40,000
50,000
60,000
Jan-2017
Feb-2017
Mar-2017
Apr-2017
May-2017
Jun-2017
Jul-2
017
Aug-2017
Sep-2017
Oct-201
7
Nov-2017
Dec-201
7
Navigant-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
M-S-R PPAKBT Summary
11/8/17 2017 Consulting and Outside Service Expenses.xlsx
Month of: Oct-2017
Budget Current Month
Actual Current Month
Positive Variance
Actual v. Budget %
Generation 11,667 0 11,667 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 8,333 0 8,333 0%Rens - Other 5,000 0 5,000 0%Administrative 2,917 0 2,917 0%Total 27,917 0 27,917 0%
Budget Year to Date
Actual Year to Date
Positive Variance
Actual v. Budget %
Generation 116,667 110,139 6,528 94%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 83,333 75,080 8,254 90%Rens - Other 50,000 41,840 8,160 84%Administrative 29,167 27,137 2,029 93%Total 279,167 254,196 24,971 91%
YEAR TO DATE
CURRENT MONTH
-50,000
100,000150,000200,000250,000300,000350,000400,000
Jan-2017
Feb-2017
Mar-2017
Apr-2017
May-2017
Jun-2017
Jul-2
017
Aug-2017
Sep-2017
Oct-201
7
Nov-2017
Dec-201
7
KBT-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
M-S-R PPAMisc Outside Services Summary
11/8/17 2017 Consulting and Outside Service Expenses.xlsx
Month of: Oct-2017
Budget Current Month
Actual Current Month
Positive Variance
Actual v. Budget %
Generation 1,583 0 1,583 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 1,583 0 1,583 0%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 3,167 0 3,167 0%
Budget Year to Date
Actual Year to Date
Positive Variance
Actual v. Budget %
Generation 15,833 10,374 5,459 66%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 15,833 10,374 5,459 66%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 31,667 20,748 10,919 66%
YEAR TO DATE
CURRENT MONTH
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
Jan-2017
Feb-2017
Mar-2017
Apr-2017
May-2017
Jun-2017
Jul-2
017
Aug-2017
Sep-2017
Oct-201
7
Nov-2017
Dec-201
7
OutsideServices-Total
CUMMULATIVEBUDGET
CUMMULATIVEACTUAL
11/8/17 2017 Input 2017 Consulting and Outside Service Expenses.xlsx
Consultant Costs - 2016 2017 Budget Revised
Budget Task Orders Jan-2017 Feb-2017 Mar-2017 Apr-2017 May-2017 Jun-2017 Jul-2017 Aug-2017 Sep-2017 Oct-2017 Nov-2017 Dec-2017 Total Average Year-End Notes
8.33% 16.67% 25.00% 33.33% 41.67% 50.00% 58.33% 66.67% 75.00% 83.33% 91.67% 100.00% Projection
NavigantGeneration
General 5,000 5,000 - - - - 2,958 - - - - 2,958 329 3,944 Transmission
SCE TO-11 et al 30,000 15,000 - - - - 618 - 2,627 - 3,429.90 - 2,500 2,500 11,674 973 11,674 Other Trans
- - - - - - Renewables ARI - NCI 2017-01 25,000 25,000 21,135 - - - - - - - 19,002.00 - - - - 19,002 1,584 19,002 BH1 Cost/Competitiveness
Administrative 10,000 10,000 1,565 - - - 1,656 - 773 - 102.00 - 1,000 - 5,096 425 5,096 70,000 55,000 1,565 - - - 5,232 - 3,399 19,002.00 3,531.90 - 3,500.00 2,500 38,731 3,310 39,717
2.85% 2.85% 2.85% 2.85% 12.36% 12.36% 18.54% 53.09% 59.51% 59.51% 65.87% 70.42% 72%
KBTGeneration
General 140,000 140,000 16,819 10,830 11,020 12,421 10,260 10,640 11,210.00 15,158.52 11,780.00 - 10,000 10,000 130,139 10,845 130,139 Gen - Other
SJGS Disposition 25,000 - KBT 2017-XX - - - - - SJGS Restructuring Closing
- - - - Remaining 25,000
TransmissionGeneral - - - - - -
Trans - OtherManagement - - - - - - -
RenewablesGeneral 50,000 100,000 5,320 10,028 10,439 11,817 10,953 9,500 9,124.16 2,660.00 5,238.00 - 6,000 6,000 87,080 7,257 87,080
Rens - OtherBP-16 Rate Case 60,000 60,000 - BP-18 Rate Case
KBT 2017-01 16,240 6,640 9,600 16,240 8,120 16,240 Jan - FebKBT 2017-02 19,200 6,240 5,120 11,360 5,680 11,360 Mar - AprKBT 2017-03 19,200 3,520 4,160 7,680 3,840 7,680 May - JunKBT 2017-04 12,800 3,840.00 1,760.00 5,600 2,800 5,600 Jul - AugKBT 2017-05 6,400 960.00 - 960 480 960 Sep - OctKBT 2017-05 6,400 3,200 3,200 6,400 3,200 6,400 Nov - Dec
Sum 80,240 48,240 48,240
Administrative 45,000 35,000 1,911 3,262 3,252 1,900 1,911 3,683 4,011.60 1,900.00 5,307.67 - 3,000 3,000 33,137 2,761 33,137 320,000 335,000 30,690 33,720 30,951 31,259 26,644 27,983 28,185.76 21,478.52 23,285.67 - 22,200.00 22,200.00 298,596 44,983 298,596
9.16% 19.23% 28.47% 37.80% 45.75% 54.10% 62.52% 68.93% 75.88% 75.88% 82.51% 89.13% 89%
SUBTOTAL 390,000 390,000 32,255 33,720 30,951 31,259 31,876 27,983 31,585 40,481 26,818 - 25,700 24,700 337,327 48,293 338,313 8.27% 16.92% 24.85% 32.87% 41.04% 48.22% 56.32% 66.69% 73.57% 73.57% 80.16% 86.49% 87%
Outside Services Italics = EstimatesGeneration
Ferguson Group 5,000 5,000 - - - - Politico Group 14,000 14,000 1,075 1,247 1,821 1,000 1,000 1,230 1,000 1,000 1,000 - 1,200 1,000 12,574 1,048 12,574
TransmissionRenewables
Ferguson Group 5,000 5,000 - - - - Politico Group 14,000 14,000 1,075 1,247 1,821 1,000 1,000 1,230 1,000 1,000 1,000 - 1,200 1,000 12,574 1,048 12,574
Rens - OtherAdministrative - - - -
38,000 38,000 2,150 2,495 3,643 2,000 2,000 2,461 2,000 2,000 2,000 - 2,400 2,000 25,148 2,096 25,148 5.66% 12.22% 21.81% 27.07% 32.33% 38.81% 44.07% 49.34% 54.60% 54.60% 60.92% 66.18% 66%
GRAND TOTAL 428,000 428,000 34,405 36,215 34,593 33,259 33,876 30,443 33,585 42,481 28,818 - 28,100 26,700 362,475 50,388 363,461 8.04% 16.50% 24.58% 32.35% 40.27% 47.38% 55.23% 65.15% 71.89% 71.89% 78.45% 84.69% 85%
Original 2017 Budget
Revised 2017 Budget
G 164,000 164,000 146,657 G - Other 25,000 - - T 30,000 15,000 11,674 T - Other - - - R 94,000 144,000 118,656 R - Other 60,000 60,000 48,240 A 55,000 45,000 38,234
428,000 428,000 363,461
50/35/15 274,000 224,000 196,565 Renew 154,000 204,000 166,896
M-S-R Public Power Agency Staff Report
Date: November 7, 2017 From: Martin R. Hopper, General Manager To: M-S-R Commission Subject: Regulatory Counsel Fee Adjustment
The Law Offices of Susie Berlin has provided specialized Regulatory Counsel representation to M-S-R PPA since 2013 and for the prior decade through the firm of McCarthy and Berlin, LLP, related to the implementation of California’s global warming and renewable portfolio requirements, among other matters. Services are contracted on a time and materials reimbursement basis. The proposed hourly fee increase to $390 for the senior attorney category is equal to those charged by the Agency’s FERC Counsel senior attorneys. The proposed fee adjustments would become effective December 1, 2017. The 2018 M-S-R PPA Budget will accommodate the proposed Regulatory Counsel fee adjustments. I recommend the Commission consent to the fee adjustment proposed by the Law Offices of Susie Berlin.
11/8/17
M-S-R PUBLIC POWER AGENCY SAN JUAN PROJECT
STATUS REPORT NOVEMBER 2017
SAN JUAN UNIT 4 OPERATIONS August 2017 Unit Net Generation (MWh) 353,584 Net Capacity Factor (%) 93.7 September 2017 Unit Net Generation (MWh) 308,026 Net Capacity Factor (%) 84.4 San Juan Generating Station (San Juan) Unit 4 was not forced from service during August but was forced from service twice in mid-September. On the 14th, there was a lighting strike; on the 16th, maintenance was required on a boiler feed pump. Combined, the outages lasted 40 hours. OCTOBER 26, 2017 SAN JUAN ENGINEERING AND OPERATING E&O COMMITTEE MEETING The Public Service Company of New Mexico (PNM) announced there were no Occupational Health and Safety Administration (OHSA) reportable incidents in the third quarter of 2017 at San Juan. There were, however, three near misses. The September lightning strike occurred one year and two days after the previous lightning strike that brought all operating San Juan Units off line. The latest strike in the San Juan Switchyard cut off both the primary and backup power supplies to the Unit 4 auxiliary cooling tower forcing Unit 4 off line. Power was reestablished but additional switchyard equipment needs to be replaced for both power supply lines to be operational. The Slurry Wall has been completed but the recovery system is still under construction. This project should be completed by spring 2018. Had M-S-R Public Power Agency been responsible for capital costs associated with San Juan Unit 4 in 2018, the capital projects approved would have totaled $1.24 million. The outstanding complaint against the fan manufacturer resulting from severe vibration with the new balance draft configuration appears to be nearing a close. A prudent settlement appears warranted due to the relatively high potential costs of litigation. Of the seven issues identified in the recently completed Baseline Environmental Study (BES) audit, PNM announced six of the issues had been resolved and is well into the process for resolving the remaining outstanding issue. SAN JUAN DECOMMISSIONING ISSUES The first meeting of the San Juan Decommissioning Committee is scheduled as a conference call on January 4, 2018. PNM plans to issue Retirement Orders (RO) to complete work necessary in 2018 available for review prior to the meeting. The estimated cost for decommissioning work for the Agency in 2018 is $300,000.
11/8/17
M-S-R PUBLIC POWER AGENCY PACIFIC NORTHWEST PROJECT
STATUS REPORT NOVEMBER 2017
BIG HORN I OPERATION MWH % of 5-Year Average August 2017 23,075 66.0 September 2017 39,306 86.0 2017 Total 345,201 91.6 Project Life (since October 2006) 5,597,011 93.0 BIG HORN II OPERATION MWH % of 5-Year Average August 2017 4,120 59.5 September 2017 7,340 94.1 2017 Total 83,710 97.7 Project Life (since November 2010) 814,749 93.7 Between August and September there were only 5 MWh of curtailments. BIG HORN TOUR On October 5, 2017, a tour of the Big Horn facilities was conducted by the M-S-R Public Power Agency Commission and Technical Committee. In addition, the Klondike III wind site was visited as there is a full size generating unit (absent tower and blades) available for observation and inspection. This unit is primarily used for safety training and practice for emergency situations. A scheduled stop at the Starpoint Wind Generating Site was cancelled as lengthy travel delays were encountered due to seasonal roadwork. Senior ARI maintenance personnel indicated that overall costs at Big Horn are significant less than the neighboring White Creek Wind Project (White Creek). The main reason is because Big Horn staff provide a “one-stop” service in maintaining the generating units and White Creek uses a number of independent contractors to perform the different aspects of maintenance. The Agency was a project participant in White Creek until the commitment to sign turbine delivery contracts was required, absent any solidified funding mechanism. VARIABLE ENERGY SUPPLY BALANCING SERVICES (VERBS) RATES New VERBS rates went into effect October 1, 2017 and represent a significant drop from the previous rate cycle to $1.22/kW if nameplate capacity. The previous rate was $1.48/kW. The change in rates directly affects the costs of Big Horn II energy. There is no change for Big Horn 1 energy as the Agency doesn’t have cost responsibility for any charges above $1.20/kW unless the rate exceeds $2.40/kW.
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M-S-R Public Power Agency Staff Report
Date: November 8, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: November 2017 General Manager’s Report Suspension/Resumption of Operations of the San Juan Refined Coal Project
The Public Service Company of New Mexico (PNM), the Operating Agent for the San Juan Generating Station (SJGS), has informed the San Juan Participants that operations at the refined coal facility at SJGS were suspended Thursday, August 17, 2017 as a result of the ongoing financial difficulties of Noble Americas and its parent, Noble Group. Fuel supply to the SJGS was not interrupted and the primary impact to the San Juan Participants is loss of the $2.00 per ton refined coal payment received on deliveries to the unit hoppers. Royalties were paid through the date of cessation of operations. PNM has subsequently informed the SJGS Participants that refined coal operations recommenced on November 1, 2017. M-S-R Coordinator Contract Renewal
The M-S-R Coordinator contract currently expires March 31, 2018. With the cessation of delivery of San Juan Project generation at the end of 2017, the ongoing duties of the M-S-R Coordinator will be reduced. MID has prepared a new proposal for, and enumeration of, the duties of the M-S-R Coordinator. The scope of those services and recommended allocation of the costs were reviewed by the Technical Committee on October 10, 2017. The revised contract will be presented to the Commission at its January 2018 meeting and will go into effect on March 1, 2018 at the end of San Juan transitional activities. The proposed 2018 M-S-R Budget has been prepared on the assumption of the approval of this new contract. MacintoshHD:Users:martinhopper:MyLaptopDocuments:M-S-RPublicPowerAgency:Administrative:Director:Nov2017MSRPPAGeneralManager'sReport.doc
M-S-R Public Power Agency Staff Report
Date: November 8, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: Approval of 2017 M-S-R Public Power Agency Budget The proposed 2017 M-S-R PPA Budget has been prepared in conformance with our Bond Indentures and the policies and priorities established in the 2018 M-S-R PPA Strategic Plan adopted by this Commission on September 20, 2017. Allocations of M-S-R Coordinator costs and of the Regulatory and Compliance Programs is made pursuant to concepts reviewed by the Technical Committee in a special meeting held October 10, 2017. It was first agreed that M-S-R Coordinator costs should continue to be allocated on the basis of contract count where costs under the old contract continue to be allocated Modesto 3/8, Santa Clara 3/8, and Redding 2/8 and under the new contract Modesto 2/5, Santa Clara 2/5, and Redding 1/5. To simplify administration of the 2018 Budget and due to the de minimus impact on Member billings, M-S-R Coordinator costs will be allocated on the new basis for all months in 2018. With regard to administrative and general costs, those costs directly allocable to projects continue to be allocated on Participation Shares. Costs currently generally allocated, or formerly allocated to the SWTP, were allocated directly to San Juan legacy activities or to the Pacific Northwest Project where possible. Certain remaining costs are allocated to the proposed Regulatory and Compliance program and are allocated in proportion to the five remaining contracts associated with wind energy – MID 2 (40%), Santa Clara 2 (40%), and Redding 1 (20%) on the basis that these costs and activities would likely terminate if M-S-R entirely exits the energy delivery business. Total expenditures under the budget will be $82.6 million, or a decrease of 36.2% from the 2017 M-S-R PPA Budget as summarized below. Also please note that the proposed 2018 M-S-R PPA Budget is $1.2 million lower than the 2018 Budget Estimate in the 2017 M-S-R PPA Budget.
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Category Original
2017 Budget
Proposed 2018
Budget
Percentage Change Comment
Agency and Debt Admin 0.6 0.5 -4.0% Includes Bond Counsel costs re SJGS dispositions and Debt restructuring.
Generation (San Juan) 76.6 31.0 -59.5% Note transition to management of Legacy Liabilities.
Transmission (Southwest Transmission Project)
0.4 N/A
N/A Mead-Phoenix/Mead-Adelanto divested and debt defeased.
Renewables (Big Horn I & II)
52.1 50.7 -2.7% Generation based on historic performance and costs of ancillary services.
Regulatory & Compliance
N/A 0.4 N/A Certain activities formerly allocated to Generation, Transmission or Renewables activities.
Totals 129.6 82.6 -36.2% Please note that the budget as proposed generates sufficient revenues to meet debt service coverage requirements in fiscal year 2018 computed as set forth in Resolution 2014-07 regarding the Computation of Debt Service Coverage and as provided by the application of the Debt Service Coverage Revolving Fund established in 2016 and implemented pursuant to the requirements of Resolution 2016-02. Staff will closely monitor the Agency’s fiscal performance during the course of the year to assure that debt Service coverage requirements will be met. The proposed 2018 M-S-R PPA Budget was reviewed by Member Staff in a workshop held November 2, 2017. As the proposed 2018 M-S-R PPA Budget modifies certain cost allocations, the adoption of the budget will be made by resolution. I recommend the Commission adopt the proposed M-S-R Public Power Agency Resolution 2017-04 adopting 2018 M-S-R PPA Budget.
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RESOLUTION NO. 2017–04
RESOLUTION OF THE COMMISSION OF THE M-S-R PUBLIC POWER AGENCY
ADOPTING 2018 M-S-R PPA BUDGET
WHEREAS, the proposed 2017 M-S-R PPA Budget has been prepared in conformance with the Agency’s Bond Indentures and the policies and priorities established in the 2018 M S-R PPA Strategic Plan adopted by this Commission on September 20, 2017; and
WHEREAS, costs of M-S-R PPA Programs are allocated pursuant to the requirements of the Joint Powers Agreement and the various Project Agreements and such methods may include Participation or Agency Share, contract count, or equal shares; and
WHEREAS, the Technical Committee has recommended that administrative and general costs directly allocable to projects continue to be allocated on Participation Shares and that costs currently generally allocated, or formerly allocated to the Southwest Transmission Project, be allocated directly to San Juan legacy activities or to the Pacific Northwest Project where possible; and
WHEREAS, the Technical Committee has recommended that M-S-R Coordinator services be allocated 2/5th to Modesto, 2/5th to Santa Clara, and 1/5th to Redding to reflect the number of parties to the remaining wind energy power purchase contracts and equal burdening of the costs of coordination activities; and
WHEREAS, the Technical Committee has recommended that costs pertaining to the Regulatory and Compliance program be allocated 2/5th to Modesto, 2/5th to Santa Clara, and 1/5th to Redding to reflect the number of parties to the remaining wind energy power purchase contracts on the basis that these costs and activities would likely terminate if M-S-R PPA entirely exits the energy delivery business.
///
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE M-S-R PUBLIC POWER AGENCY
THAT:
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1) The Commission hereby adopts the proposed 2018 M-S-R PPA Budget and the cost
allocations contained therein.
///
PASSED AND ADOPTED this 15th day of November 2017 upon the following vote of the Members:
Modesto Irrigation District City of Santa Clara City of Redding ATTEST: _________________________ _________________________ PRESIDENT SECRETARY
2018 Proposed Budget
Public Power Agency
MSR PUBLIC POWER AGENCYSUMMARY
2018 BUDGET
2017 2017 2018 2019Budget Year To Date Budget Budget
Estimated Estimate
FUNDS PROVIDED:
Operating Revenue 129,604,562 124,136,010 82,645,629 83,712,979 Other Revenue 3,670,000 3,750,000 3,700,000 3,700,000
Fund Provided 133,274,562 127,886,010 86,345,629 87,412,979
FUNDS APPLIED:
Agency Administration & General 493,500 492,074 401,500 493,400 Agency Debt Administrative 79,000 81,350 110,250 92,500 Generation Administrative & General 381,500 355,900 206,000 136,000 Generation Plant Costs 1,900,000 1,902,329 20,000 - Renewable Administrative 638,000 619,500 651,000 601,000 Coordinating Services 680,000 664,100 479,000 450,000 Regulatory & Compliance - - 405,000 345,000 Transmission Expenditures 352,000 325,600 - - Purchase Power-Big Horn 1 35,372,213 34,535,000 34,747,162 34,747,162 Purchase Power-Big Horn 2 15,666,600 15,440,000 14,864,400 14,903,500 Generation Fuel 33,976,892 29,623,300 - - Generation Operation & Maintenance 8,944,000 8,976,000 - - Generation Capital - - - - Transmission Capital - - - - Interest Expense-Generation 7,165,857 7,165,857 6,368,817 5,201,917 Principal Payments-Generation 23,955,000 23,955,000 24,392,500 26,742,500
Funds Applied 129,604,562 124,136,010 82,645,629 83,712,979
Debt Service Fund Distribution 3,300,000 3,300,000 3,300,000 3,300,000
SURPLUS (DEFICIT) REVENUE 370,000 450,000 400,000 400,000
Page 1
MSR PUBLIC POWER AGENCY2018 Budget Summary
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL
REVENUE FROM MEMBERSModesto Irrigation District 2,422,710 2,527,095 2,830,782 2,773,592 2,522,658 2,536,263 2,309,251 2,306,882 2,347,330 2,484,727 2,604,327 2,645,497 30,311,114City of Santa Clara 2,684,508 2,774,015 3,409,936 3,426,544 3,053,674 3,135,351 2,712,879 2,707,558 2,591,319 2,791,756 2,907,797 2,914,908 35,110,245City of Redding 1,287,623 1,313,146 1,675,202 1,711,532 1,529,314 1,586,298 1,366,895 1,363,795 1,258,014 1,354,930 1,394,557 1,382,964 17,224,270
TOTAL 6,394,841 6,614,256 7,915,920 7,911,668 7,105,646 7,257,912 6,389,025 6,378,235 6,196,663 6,631,413 6,906,681 6,943,369 82,645,629
BUDGET AMOUNTS / TRUE UP YEAR ENDAgency Administration & General 46,258 46,258 46,258 46,258 46,258 46,258 20,658 20,658 20,658 20,658 20,658 20,658 401,500Agency Debt Administrative 9,188 9,188 9,188 9,188 9,188 9,188 9,188 9,188 9,188 9,188 9,188 9,188 110,250Generation Administrative & General 17,167 17,167 17,167 17,167 17,167 17,167 17,167 17,167 17,167 17,167 17,167 17,167 206,000Generation Plant Costs 3,333 3,333 3,333 3,333 3,333 3,333 0 0 0 0 0 0 20,000Transmission Expenditures 0 0 0 0 0 0 0 0 0 0 0 0 0Interest Expense-Generation 574,051 574,051 574,051 574,051 574,051 574,051 487,418 487,418 487,418 487,418 487,418 487,418 6,368,817Principal Payments-Generation 1,914,167 1,914,167 1,914,167 1,914,167 1,914,167 1,914,167 2,151,250 2,151,250 2,151,250 2,151,250 2,151,250 2,151,250 24,392,500
ALLOCATED 50/35/15 2,564,164 2,564,164 2,564,164 2,564,164 2,564,164 2,564,164 2,685,681 2,685,681 2,685,681 2,685,681 2,685,681 2,685,681 31,499,067
BUDGET AMOUNTS / TRUE UP YEAR ENDRenewable Administrative 54,250 54,250 54,250 54,250 54,250 54,250 54,250 54,250 54,250 54,250 54,250 54,250 651,000ALLOCATED 23/49/28MID 12,478 12,478 12,478 12,478 12,478 12,478 12,478 12,478 12,478 12,478 12,478 12,478SC 26,583 26,583 26,583 26,583 26,583 26,583 26,583 26,583 26,583 26,583 26,583 26,583REU 15,190 15,190 15,190 15,190 15,190 15,190 15,190 15,190 15,190 15,190 15,190 15,190
Coordinating Services 39,917 39,917 39,917 39,917 39,917 39,917 39,917 39,917 39,917 39,917 39,917 39,917 479,000Regulatory & Compliance 33,750 33,750 33,750 33,750 33,750 33,750 33,750 33,750 33,750 33,750 33,750 33,750 405,000ALLOCATED 40/40/20 73,667 73,667 73,667 73,667 73,667 73,667 73,667 73,667 73,667 73,667 73,667 73,667 884,000
MID 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467SC 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467 29,467REU 14,733 14,733 14,733 14,733 14,733 14,733 14,733 14,733 14,733 14,733 14,733 14,733
Renewable & Overheads 127,917 127,917 127,917 127,917 127,917 127,917 127,917 127,917 127,917 127,917 127,917 127,917 1,535,000
ACTUAL VARIABLE AMOUNTSPurchase Power-Big Horn 1 2,498,794 2,571,853 3,608,270 3,712,267 3,190,653 3,353,775 2,673,539 2,664,664 2,361,858 2,639,289 2,752,662 2,719,538 34,747,162Purchase Power-Big Horn 2 1,203,965 1,350,321 1,615,568 1,507,319 1,222,911 1,212,055 901,888 899,973 1,021,207 1,178,526 1,340,421 1,410,246 14,864,400Generation Fuel 0 0 0 0 0 0 0 0 0 0 0 0 0Transmission Losses 0 0 0 0 0 0 0 0 0 0 0 0 0
3,702,759 3,922,174 5,223,838 5,219,586 4,413,564 4,565,830 3,575,427 3,564,637 3,383,065 3,817,815 4,093,083 4,129,784 49,611,562
ACTUAL AMOUNTS (OWNERSHIP SHARE)Generation Operation & Maintenance 0 0 0 0 0 0 0 0 0 0 0 0 0Generation Capital 0 0 0 0 0 0 0 0 0 0 0 0 0Transmission Capital 0 0 0 0 0 0 0 0 0 0 0 0 0ALLOCATED 50/35/15 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL 6,394,840 6,614,255 7,915,919 7,911,667 7,105,645 7,257,911 6,389,024 6,378,234 6,196,662 6,631,412 6,906,680 6,943,381 82,645,629
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MSR PUBLIC POWER AGENCY2019 Budget Summary
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL
REVENUE FROM MEMBERSModesto Irrigation District 2,494,834 2,599,522 2,903,760 2,846,346 2,594,821 2,608,404 2,330,011 2,327,637 2,368,338 2,506,061 2,625,997 2,667,330 30,873,061City of Santa Clara 2,732,404 2,822,074 3,458,292 3,474,779 3,101,591 3,183,255 2,724,921 2,719,598 2,603,494 2,804,107 2,920,329 2,927,518 35,472,362City of Redding 1,307,174 1,332,697 1,694,753 1,731,083 1,548,865 1,605,849 1,371,225 1,368,125 1,262,344 1,359,260 1,398,887 1,387,294 17,367,556
TOTAL 6,534,412 6,754,293 8,056,805 8,052,208 7,245,277 7,397,508 6,426,157 6,415,360 6,234,176 6,669,428 6,945,213 6,982,142 83,712,979
BUDGET AMOUNTS / TRUE UP YEAR ENDAgency Administration & General 54,750 54,750 54,750 54,750 54,750 54,750 27,483 27,483 27,483 27,483 27,483 27,483 493,400Agency Debt Administrative 7,708 7,708 7,708 7,708 7,708 7,708 7,708 7,708 7,708 7,708 7,708 7,708 92,500Generation Administrative & General 11,333 11,333 11,333 11,333 11,333 11,333 11,333 11,333 11,333 11,333 11,333 11,333 136,000Generation Plant Costs 0 0 0 0 0 0 0 0 0 0 0 0 0Transmission Expenditures 0 0 0 0 0 0 0 0 0 0 0 0 0Interest Expense-Generation 487,131 487,131 487,131 487,131 487,131 487,131 379,856 379,856 379,856 379,856 379,856 379,856 5,201,917Principal Payments-Generation 2,151,250 2,151,250 2,151,250 2,151,250 2,151,250 2,151,250 2,305,833 2,305,833 2,305,833 2,305,833 2,305,833 2,305,833 26,742,500
ALLOCATED 50/35/15 2,712,172 2,712,172 2,712,172 2,712,172 2,712,172 2,712,172 2,732,214 2,732,214 2,732,214 2,732,214 2,732,214 2,732,214 32,666,317
BUDGET AMOUNTS / TRUE UP YEAR ENDRenewable Administrative 50,083 50,083 50,083 50,083 50,083 50,083 50,083 50,083 50,083 50,083 50,083 50,083 601,000ALLOCATED 23/49/28MID 11,519 11,519 11,519 11,519 11,519 11,519 11,519 11,519 11,519 11,519 11,519 11,519SC 24,541 24,541 24,541 24,541 24,541 24,541 24,541 24,541 24,541 24,541 24,541 24,541REU 14,023 14,023 14,023 14,023 14,023 14,023 14,023 14,023 14,023 14,023 14,023 14,023
Coordinating Services 37,500 37,500 37,500 37,500 37,500 37,500 37,500 37,500 37,500 37,500 37,500 37,500 450,000Regulatory & Compliance 28,750 28,750 28,750 28,750 28,750 28,750 28,750 28,750 28,750 28,750 28,750 28,750 345,000ALLOCATED 40/40/20 66,250 66,250 66,250 66,250 66,250 66,250 66,250 66,250 66,250 66,250 66,250 66,250 795,000
MID 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500SC 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500 26,500REU 13,250 13,250 13,250 13,250 13,250 13,250 13,250 13,250 13,250 13,250 13,250 13,250
Renewable & Overheads 116,333 116,333 116,333 116,333 116,333 116,333 116,333 116,333 116,333 116,333 116,333 116,333 1,396,000
ACTUAL VARIABLE AMOUNTSPurchase Power-Big Horn 1 2,498,794 2,571,853 3,608,270 3,712,267 3,190,653 3,353,775 2,673,539 2,664,664 2,361,858 2,639,289 2,752,662 2,719,538 34,747,162Purchase Power-Big Horn 2 1,207,113 1,353,935 1,620,030 1,511,436 1,226,119 1,215,228 904,071 902,149 1,023,771 1,181,592 1,344,004 1,414,052 14,903,500Generation Fuel 0 0 0 0 0 0 0 0 0 0 0 0 0Transmission Losses 0 0 0 0 0 0 0 0 0 0 0 0 0
3,705,907 3,925,788 5,228,300 5,223,703 4,416,772 4,569,003 3,577,610 3,566,813 3,385,629 3,820,881 4,096,666 4,133,590 49,650,662
ACTUAL AMOUNTS (OWNERSHIP SHARE)Generation Operation & Maintenance 0 0 0 0 0 0 0 0 0 0 0 0 0Generation Capital 0 0 0 0 0 0 0 0 0 0 0 0 0Transmission Capital 0 0 0 0 0 0 0 0 0 0 0 0 0ALLOCATED 50/35/15 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL 6,534,413 6,754,294 8,056,806 8,052,209 7,245,278 7,397,509 6,426,157 6,415,360 6,234,176 6,669,428 6,945,213 6,982,137 83,712,979
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Debt Service Requirements 2018 2019
Series 2008L Bonds Interest Expense 3,895,125 2,744,875 Series 2008M Bonds Interest Expense 1,494,736 1,494,736 Series 2008N Bonds Interest Expense 962,306 962,306 Series 2014Q Bonds Interest Expense 16,650 -
Series 2008L Bonds Principal Payment 23,005,000 17,650,000 Series 2008M Bonds Principal Payment - 1,750,000 Series 2008N Bonds Principal Payment - 7,342,500 Series 2014Q Bonds Principal Expense 1,387,500 -
Total Debt Service 30,761,317 31,944,417
Operating Revenue 82,645,629 83,712,979 Other Revenue 3,700,000 3,700,000 Operating Expense (82,645,629) (83,712,979) Interest Expense included in Operating Expenses 6,368,817 5,201,917 Debt Service Principal included in Operating Expenses 24,392,500 26,742,500 Capital included in Operating Expenses - - San Juan Reclamation Trust included in Operating Expense - - Subtotal - Net Revenue 34,461,317 35,644,417
Debt Service Coverage 1.120 1.116
Required Debt Service Coverage 1.100 1.100
Net Revenue Required (110% of Debt Service) 33,837,449 35,138,859
Net Revenue 34,461,317 35,644,417
Additional Revenue Required for Coverage (623,868) (505,558)
MSR PUBLIC POWER AGENCYPROJECTED DEBT SERVICE CALCULATION
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MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Operating Revenue
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
Modesto Irrigation District $51,880,496 $51,266,115 $15,613,100 $14,698,014 $30,311,114 $16,047,687 $14,825,374 $30,873,061City of Santa Clara 52,874,937 49,577,959 18,484,028 16,626,217 35,110,245 18,772,395 16,699,967 35,472,362City of Redding 24,849,129 23,291,937 9,103,115 8,121,155 17,224,270 9,220,421 8,147,135 17,367,556
$129,604,562 $124,136,010 $43,200,243 $39,445,386 $82,645,629 $44,040,503 $39,672,476 $83,712,979
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MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Other Revenue
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN
BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED BUDGET
750130.4190000 Interest Income - General Fund $170,000 $200,000 $100,000 $100,000 $200,000 $100,000 $100,000 $200,000750131.4190000 Interest Income - Reserve Funds 200,000 250,000 100,000 100,000 200,000 100,000 100,000 200,000
Debt Service Coverage Fund 3,300,000 3,300,000 1,650,000 1,650,000 3,300,000 1,650,000 1,650,000 3,300,000
$3,670,000 $3,750,000 $1,850,000 $1,850,000 $3,700,000 $1,850,000 $1,850,000 $3,700,000
Page 6
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Generation Operation & Maintenance
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
301302.xxxxxxx San Juan Coal & Fuel $33,976,892 $29,623,300 $0 $0 $0 $0 $0 $0301302.xxxxxxx San Juan Operation & Maintenance 8,944,000 8,976,000 0 0 0 0 0 0
San Juan Divestiture 12/31/17
$42,920,892 $38,599,300 $0 $0 $0 $0 $0 $0
Page 7
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Generation Plant Cost
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302301.9230000 San Juan Audit Fees 0 0 20,000 0 20,000 0 0 0301303.4081000 San Juan Property Taxes 630,000 633,100 0 0 0 0 0 0301303.5060000 San Juan Demand Charge 1,270,000 1,269,229 0 0 0 0 0 0
$1,900,000 $1,902,329 $20,000 $0 $20,000 $0 $0 $0
Page 8
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Purchase Power
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED BUDGET
504313.55500xx Purchase Power-Big Horn 1 $35,372,213 $34,535,000 $18,935,612 $15,811,550 $34,747,162 $18,935,612 $15,811,550 $34,747,162504313.5550012 Purchase Power-Big Horn 2 15,666,600 15,440,000 8,112,139 6,752,261 14,864,400 8,133,861 6,769,639 14,903,500
$51,038,813 $49,975,000 $27,047,751 $22,563,811 $49,611,562 $27,069,473 $22,581,189 $49,650,662
Page 9
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Agency Administration & General
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED BUDGET
701202.9250000 General Insurance $115,000 $106,000 $110,000 $0 $110,000 $120,000 $0 $120,000701206.9210000 Postage 100 50 50 50 100 50 50 100701207.9210000 Office Supplies 200 100 100 100 200 50 50 100701209.9230000 Registration License 15,000 12,324 7,500 7,500 15,000 8,500 8,500 17,000701301.9230000 Audit Fees 71,600 71,000 57,600 14,000 71,600 57,600 14,000 71,600710310.9230000 Administration Services 92,000 90,000 40,000 40,000 80,000 40,000 40,000 80,000701315.9230000 Bank Fees 4,000 3,700 2,000 2,000 4,000 2,000 2,000 4,000
$297,900 $283,174 $217,250 $63,650 $280,900 $228,200 $64,600 $292,800
Page 10
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Agency Debt Administrative
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED BUDGET
702204.9230000 Arbitrage Rebate $0 $0 $0 $0 $0 $0 $0 $0702208.9230000 Remarketing Fees 0 0 0 0 0 0 0 0702303.9230000 Bond Counsel 10,000 19,400 5,000 5,000 10,000 5,000 5,000 10,000702303.9230001 Bond Counsel-Other 0 650 0 0 0 0 0 0702308.9230000 Financial Services 43,000 37,400 37,125 37,125 74,250 28,250 28,250 56,500702314.9230000 Trustee Fees 26,000 23,900 13,000 13,000 26,000 13,000 13,000 26,000
$79,000 $81,350 $55,125 $55,125 $110,250 $46,250 $46,250 $92,500
Page 11
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Consulting/Engineering
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302304.9230000 Generation $170,000 $152,800 $35,000 $35,000 $70,000 $12,500 $12,500 $25,000302304.9230001 Generation-Other 0 0 0 0 0 0 0 0407304.9230000 Transmission 30,000 8,900 0 0 0 0 0 0407304.9230001 Transmission-Other 0 0 0 0 0 0 0 0503304.9230000 Renewable 50,000 100,100 50,000 50,000 100,000 25,000 25,000 50,000503304.9230001 Renewable -Other 85,000 74,800 42,500 42,500 85,000 42,500 42,500 85,000603304.9230000 Regulatory & Compliance 0 0 15,000 15,000 30,000 15,000 15,000 30,000701304.9230000 Administrative & General 55,000 41,700 22,500 22,500 45,000 22,500 22,500 45,000701304.9230001 Administrative & General-Other 0 0 0 0 0 0 0 0
$390,000 $378,300 $165,000 $165,000 $330,000 $117,500 $117,500 $235,000
Page 12
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Coordinating Services
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302311.5560000 Generation $255,000 $249,000 $0 $0 $0 $0 $0 $0503311.5560000 Renewable 425,000 415,100 239,500 239,500 479,000 225,000 225,000 450,000
2018 Forward, Coordinator costs are allocated to members based on contract count.Big Horn 1 (3 contracts), Big Horn (2 contracts).Modesto 40%, Santa Clara 40%, Redding 20%
$680,000 $664,100 $239,500 $239,500 $479,000 $225,000 $225,000 $450,000
Page 13
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY General Counsel
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302305.9230000 Generation $40,000 $32,300 $10,000 $10,000 $20,000 $10,000 $10,000 $20,000407305.9230000 Transmission 2,000 2,200 0 0 0 0 0 0503305.9230000 Renewable 10,000 1,400 1,000 1,000 2,000 1,000 1,000 2,000603305.9230000 Regulatory & Compliance 0 0 1,000 1,000 2,000 1,000 1,000 2,000701305.9230000 Administrative & General 30,000 20,600 15,000 15,000 30,000 15,000 15,000 30,000
$82,000 $56,500 $27,000 $27,000 $54,000 $27,000 $27,000 $54,000
Page 14
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY General Manager
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302306.9230000 Generation $100,000 $82,900 $50,000 $50,000 $100,000 $40,000 $40,000 $80,000407306.9230000 Transmission 20,000 6,500 0 0 0 0 0 0503306.9230000 Renewable 90,000 47,200 50,000 50,000 100,000 50,000 50,000 100,000603306.9230000 Regulatory & Compliance 0 0 40,000 40,000 80,000 10,000 10,000 20,000701306.9230000 Administrative & General 90,000 120,600 10,000 10,000 20,000 50,000 50,000 100,000
$300,000 $257,200 $150,000 $150,000 $300,000 $150,000 $150,000 $300,000
Page 15
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Outside Legal Services
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302309.9230000 Generation $45,000 $74,600 $5,000 $5,000 $10,000 $2,500 $2,500 $5,000302309.9230001 Generation-Other $5,000 $1,400 $2,500 $2,500 $5,000 $2,500 $2,500 $5,000407309.9230000 Transmission 300,000 302,000 0 0 0 0 0 0407309.9230001 Transmission-Other 0 6,000 0 0 0 0 0 0503309.9230000 Renewable 75,000 47,300 17,500 17,500 35,000 17,500 17,500 35,000503309.9230001 Renewable -Other 300,000 327,400 150,000 150,000 300,000 150,000 150,000 300,000603309.9230000 Regulatory & Compliance 0 0 137,500 137,500 275,000 137,500 137,500 275,000701309.9230000 Administrative & General 10,000 20,600 7,500 7,500 15,000 7,500 7,500 15,000701309.9230001 Administrative & General-Other 0 0 0 0 0 0 0 0
$735,000 $779,300 $320,000 $320,000 $640,000 $317,500 $317,500 $635,000
Page 16
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Outside Service
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302312.9230000 Generation $20,500 $11,900 $0 $0 $0 $0 $0 $0407312.9230000 Transmission 0 0 0 0 0 0 0 0503312.9230000 Renewable 25,500 13,900 13,500 13,500 27,000 13,500 13,500 27,000603312.9230000 Regulatory & Compliance 0 0 9,000 9,000 18,000 9,000 9,000 18,000701312.9230000 Administrative & General 9,600 4,500 4,800 4,800 9,600 4,800 4,800 9,600
$55,600 $30,300 $27,300 $27,300 $54,600 $27,300 $27,300 $54,600
Page 17
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Travel & Meetings
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED
BUDGET
302203.9210000 Generation $1,000 $0 $500 $500 $1,000 $500 $500 $1,000503203.9210000 Renewable 2,500 7,400 1,000 1,000 2,000 1,000 1,000 2,000701203.9210000 Administrative & General 1,000 900 500 500 1,000 500 500 1,000
$4,500 $8,300 $2,000 $2,000 $4,000 $2,000 $2,000 $4,000
Page 18
MSR PUBLIC POWER AGENCY2018 BUDGET
ACTIVITY Other Expenditures
Account Code DESCRIPTION
2017 REVISED BUDGET
YTD ESTIMATED
12/31/17
2018 JAN-JUN BUDGET
2018 JUL-DEC BUDGET
2018 TOTAL
BUDGET
2019 JAN-JUN BUDGET
2019 JUL-DEC BUDGET
2019 PROJECTED BUDGET
750160.427xxxx Interest Expense-Generation $7,165,857 $7,165,857 $3,444,309 $2,924,508 $6,368,817 $2,922,784 $2,279,133 $5,201,917100000.221xxxx Principal Payments-Generation 23,955,000 23,955,000 11,485,000 12,907,500 24,392,500 12,907,500 13,835,000 26,742,500
$31,120,857 $31,120,857 $14,929,309 $15,832,008 $30,761,317 $15,830,284 $16,114,133 $31,944,417
Page 19
2018 MSR PURCHASE POWER BUDGET
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL
RENEWABLE, Big Horn I 2,498,794 2,571,853 3,608,270 3,712,267 3,190,653 3,353,775 2,673,539 2,664,664 2,361,858 2,639,289 2,752,662 2,719,538 34,747,162
RENEWABLE, Big Horn II 1,203,965 1,350,321 1,615,568 1,507,319 1,222,911 1,212,055 901,888 899,973 1,021,207 1,178,526 1,340,421 1,410,246 14,864,400
TOTAL MSR 3,702,759 3,922,174 5,223,838 5,219,586 4,413,564 4,565,830 3,575,427 3,564,637 3,383,065 3,817,815 4,093,083 4,129,784 49,611,562
Page 20
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL
Renewable Power (PPM) Big Horn I12.5% of contract. MID MWh 4,518 4,665 6,738 6,946 5,903 6,229 4,868 4,851 4,245 4,800 5,027 4,960 63,75052.5% of contract. SNCL MWh 18,980 19,593 28,299 29,173 24,791 26,161 20,447 20,373 17,829 20,159 21,111 20,834 267,75035.0% of contract. REDD MWh 12,653 13,062 18,866 19,448 16,527 17,441 13,631 13,582 11,886 13,440 14,075 13,889 178,500
TOTAL MWh (1) 36,151 37,320 53,903 55,567 47,221 49,831 38,946 38,806 33,960 38,399 40,213 39,683 510,000
Dollars (Energy + F&S) MID $ 286,180 295,434 426,710 439,882 373,813 394,475 308,314 307,190 268,836 303,976 318,344 314,141 4,037,295SNCL $ 1,183,929 1,222,211 1,765,296 1,819,791 1,546,464 1,631,940 1,275,495 1,270,844 1,112,173 1,257,548 1,316,926 1,299,598 16,702,215REDD $ 789,285 814,808 1,176,864 1,213,194 1,030,976 1,087,960 850,330 847,230 741,449 838,365 877,992 866,399 11,134,852
Dollars (WIC Rate) MID $ 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 359,100SNCL $ 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 1,508,220REDD $ 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 1,005,480
TOTAL $ 2,498,794 2,571,853 3,608,270 3,712,267 3,190,653 3,353,775 2,673,539 2,664,664 2,361,858 2,639,289 2,752,662 2,719,538 34,747,162
Renewable Power (PPM) Big Horn II65.0% of contract. MID MWh 6,016 6,911 8,531 7,870 6,133 6,066 4,172 4,161 4,901 5,862 6,850 7,277 74,75035.0% of contract. SNCL MWh 3,241 3,721 4,593 4,237 3,302 3,267 2,247 2,240 2,639 3,156 3,689 3,918 40,2500.0% of contract. REDD MWh 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL MWh (2) 9,257 10,632 13,124 12,107 9,435 9,333 6,419 6,401 7,540 9,018 10,539 11,195 115,000
Dollars (Energy + See Note 4 MID $ 640,455 735,586 907,997 837,635 652,770 645,713 444,105 442,860 521,662 623,919 729,151 774,537 7,956,390SNCL $ 344,860 396,085 488,921 451,034 351,491 347,692 239,133 238,463 280,895 335,957 392,620 417,059 4,284,210
Dollars (WIC Rate) MID $ 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 475,800SNCL $ 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 256,200
Dollars (Transmission Service MID $ 102,473 102,473 102,473 102,473 102,473 102,473 102,472 102,472 102,472 102,472 102,472 102,472 1,229,670SNCL $ 55,177 55,177 55,177 55,177 55,177 55,177 55,178 55,178 55,178 55,178 55,178 55,178 662,130
TOTAL $ 1,203,965 1,350,321 1,615,568 1,507,319 1,222,911 1,212,055 901,888 899,973 1,021,207 1,178,526 1,340,421 1,410,246 14,864,400
MSR TOTAL 3,702,759 3,922,174 5,223,838 5,219,586 4,413,564 4,565,830 3,575,427 3,564,637 3,383,065 3,817,815 4,093,083 4,129,784 49,611,562
NOTES:
2018 MSR PURCHASE POWER BUDGET
(1) Renewable Power projected output forecast and pricing projections for 2018 & 2019 as per Martin Hopper email dated 10/18/2017 (spreadsheet: "Big Horn I Projections 2018.xlsx" and "Big Horn II Projections 2018.xlsx" )
(2) Big Horn II Dollars include $/MWh charges for Energy per PPA Annex H, Assumes escalation of 2% on $15/MWh effective 1-1-11; Redelivery per RA Section 2.6.1; Transmission Losses,RA Section 2.6.3 - assumes BPATS Incremental Replacement Power at $60/MWh; and Operating Reserves per RA Section 2.6.4
Page 21
2019 MSR PURCHASE POWER BUDGET
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL
RENEWABLE, Big Horn I 2,498,794 2,571,853 3,608,270 3,712,267 3,190,653 3,353,775 2,673,539 2,664,664 2,361,858 2,639,289 2,752,662 2,719,538 34,747,162
RENEWABLE, Big Horn II 1,207,113 1,353,935 1,620,030 1,511,436 1,226,119 1,215,228 904,071 902,149 1,023,771 1,181,592 1,344,004 1,414,052 14,903,500
TOTAL MSR 3,705,907 3,925,788 5,228,300 5,223,703 4,416,772 4,569,003 3,577,610 3,566,813 3,385,629 3,820,881 4,096,666 4,133,590 49,650,662
Page 22
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL
Renewable Power (PPM) Big Horn I12.5% of contract. MID MWh 4,518 4,665 6,738 6,946 5,903 6,229 4,868 4,851 4,245 4,800 5,027 4,960 63,750
52.5% of contract. SNCL MWh 18,980 19,593 28,299 29,173 24,791 26,161 20,447 20,373 17,829 20,159 21,111 20,834 267,75035.0% of contract. REDD MWh 12,653 13,062 18,866 19,448 16,527 17,441 13,631 13,582 11,886 13,440 14,075 13,889 178,500
TOTAL MWh (1) 36,151 37,992 53,965 55,855 48,984 50,669 39,315 40,786 34,729 38,715 41,106 39,739 510,000
Dollars (Energy + F&S) MID $ 286,180 295,434 426,710 439,882 373,813 394,475 308,314 307,190 268,836 303,976 318,344 314,141 4,037,295SNCL $ 1,183,929 1,222,211 1,765,296 1,819,791 1,546,464 1,631,940 1,275,495 1,270,844 1,112,173 1,257,548 1,316,926 1,299,598 16,702,215REDD $ 789,285 814,808 1,176,864 1,213,194 1,030,976 1,087,960 850,330 847,230 741,449 838,365 877,992 866,399 11,134,852
Dollars (WIC Rate) MID $ 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 29,925 359,100SNCL $ 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 125,685 1,508,220REDD $ 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 83,790 1,005,480
TOTAL $ 2,498,794 2,571,853 3,608,270 3,712,267 3,190,653 3,353,775 2,673,539 2,664,664 2,361,858 2,639,289 2,752,662 2,719,538 34,747,162
Renewable Power (PPM) Big Horn II65.0% of contract. MID MWh 6,016 6,911 8,531 7,870 6,133 6,066 4,172 4,161 4,901 5,862 6,850 7,277 74,75035.0% of contract. SNCL MWh 3,241 3,721 4,593 4,237 3,302 3,267 2,247 2,240 2,639 3,156 3,689 3,918 40,2500.0% of contract. REDD MWh 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL MWh (2) 9,257 10,632 13,124 12,107 9,435 9,333 6,419 6,401 7,540 9,018 10,539 11,195 115,000
Dollars (Energy + See Note 4 MID $ 642,501 737,935 910,897 840,311 654,855 647,776 445,524 444,274 523,329 625,912 731,480 777,011 7,981,805SNCL $ 345,962 397,350 490,483 452,475 352,614 348,802 239,897 239,225 281,792 337,030 393,874 418,391 4,297,895
Dollars (WIC Rate) MID $ 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 39,650 475,800SNCL $ 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 21,350 256,200
Dollars (Transmission Service MID $ 102,473 102,473 102,473 102,473 102,473 102,473 102,472 102,472 102,472 102,472 102,472 102,472 1,229,670SNCL $ 55,177 55,177 55,177 55,177 55,177 55,177 55,178 55,178 55,178 55,178 55,178 55,178 662,130
TOTAL $ 1,207,113 1,353,935 1,620,030 1,511,436 1,226,119 1,215,228 904,071 902,149 1,023,771 1,181,592 1,344,004 1,414,052 14,903,500
MSR TOTAL 3,705,907 3,925,788 5,228,300 5,223,703 4,416,772 4,569,003 3,577,610 3,566,813 3,385,629 3,820,881 4,096,666 4,133,590 49,650,662
NOTES:
2019 MSR PURCHASE POWER BUDGET
(1) Renewable Power projected output forecast and pricing projections for 2018 & 2019 as per Martin Hopper email dated 10/18/2017 (spreadsheet: "Big Horn I Projections 2018.xlsx" and "Big Horn II Projections 2018.xlsx" )
(2) Big Horn II Dollars include $/MWh charges for Energy per PPA Annex H, Assumes escalation of 2% on $15/MWh effective 1-1-11; Redelivery per RA Section 2.6.1; Transmission Losses,RA Section 2.6.3 - assumes BPATS Incremental Replacement Power at $60/MWh; and Operating Reserves per RA Section 2.6.4
Page 23
M-S-R Public Power Agency Staff Report
Date: November 6, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: Approval of 2018 Regular Meeting Dates The following meeting dates are based on the customary schedule for M-S-R PPA as adjusted for known conflicts. Commission Meetings are proposed to be scheduled bimonthly in odd-numbered. Dates for even-numbered months, if required by emergent business, would be called as Special Meetings on the same day as TANC meetings.
Month Technical Committee Date/Time
Technical Committee Location
Commission Date/Time
Commission Location
January 2018 4 10:00 AM Folsom 24 12:00 Noon Folsom March 2018 8 10:00 AM Folsom 21 12:00 Noon Folsom May 2018 10 10:00 AM Redding 23 12:00 Noon Folsom July 2018 11 10:00 AM Folsom 18 12:00 Noon Folsom
September 2018 6 9:00 AM 25 10:00 AM
Truckee Santa Clara
19 12:00 Noon Folsom
November 2018 8 9:00 AM Folsom 28 12:00 Noon Folsom Financial Management Committee: 1:00 PM, Wednesday, May 9, 2018, in Folsom, CA I recommend the M-S-R PPA Commission adopt the above schedule for the Agency’s 2018 Regular meetings.
2018 California JPA Meeting Calendar
APPA Joint Action Workshop – Jan 7 – 9, 2018, La Jolla, CA NCPA Strategic Issues Conference – Jan 17 - 18, 2018, Sacramento, CA CMUA Capitol Day and CMUA Board Meetings – Jan 29 - 30, 2018, Sacramento, CA APPA CEO Roundtable – Feb 11 – 13, 2018, Phoenix, AZ APPA/ACWA Legislative Rally & Conference – Feb 26 – 28, 2018, Washington, DC
CMUA Annual Meeting – March 25 – 28, 2018, San Francisco, CA NCPA/NWPPA Federal Policy Forum – Apr 16 - 19, 2018, Washington, DC APPA National Conference – June 15 – 20, 2018, New Orleans, LA NCPA Annual Conference – Sept 26 - 28, 2018, Monterey, CA
Revised: 11/6/17
BANC Commission (2:00 PM 4th Weds)
CMUA Legis/Reg
C’tee Water (9:30 AM)
CMUA Legis/Reg
C’tee Energy (12:15 PM)
M-S-R Technical C’tees
M-S-R PPA & EA
Commissions(Noon)
NCPA Facilities/ Pooling C’tees
NCPA LEC PPC C’tee
NCPA L&R C’tee
NCPA Utility
Directors
NCPA Commission Meeting
SCPPA Board
(3rd Thurs)
TANC Commission (10:00 AM)
Jan 24 Folsom Jan 11 Jan 11 Jan 4 Jan 24 Jan 3 Jan 8 Jan 11
Jan 18 Sac’to Jan 18 Jan 24
Feb 21 Folsom
Feb 8 So Cal
Feb 8 So Cal No meeting No meeting Jan 31 Feb 5 Feb 21 Feb 8 Feb 22 Feb 15 Feb 21
Mar 21 Folsom
Mar 8 Mar 26
Mar 8 Mar 26
Mar 8 Mar 21 Feb 28 Mar 12 Mar 7 - 9 Healdsburg Mar 22 Mar 15 Mar 21
Apr 25 Apr 12 Apr 12 No meeting No meeting Apr 4 Apr 9 Apr 12 Apr 26 Apr 19 Apr 18
May 23 Folsom
May 3 May 3 May 10 Redding May 23 May 2 May 14 May 23 May 10 May 24 May 17 May 23
Jun 27 Folsom
Jun 14 So Cal
Jun 14 So Cal No meeting No meeting Jun 6 Jun 11 Jun 14
Jun 28 Alameda No meeting Jun 27
Jul 25 Jul 12 Jul 12 Jul 11 Jul 18 Jul 5 Jul 9 Jul 12 Jul 26
Murphys Jul 19 July 18
Aug 22 Folsom
Aug 9 Aug 23
Aug 9 Aug 23
No meeting No meeting Aug 1 Aug 13 Aug 22 Aug 9 Aug 23 Aug 16 Aug 22
Sep 19 Folsom
Sep 13 Sep 13 Sep 6 Truckee Sep 19 Sep 5 Sep 10
Sep 26 Ann Conf Sep 13
Sep 28 Ann Conf Sep 20 Sep 19
Oct 24 Oct 11 Oct 11 No meeting No meeting Oct 3 Oct 8 Oct 11 Oct 25 Oct 18 Oct 17 Nov 14 Nov 7 Nov 7 Nov 8 Nov 28 Nov 7 Nov 12 Nov 28 Nov 15 Nov 29 Nov 15 Nov 28 Dec 19 Folsom
No meeting No meeting Dec 5 Dec 10 Dec 13 No meeting Dec 20 Dec 19
M-S-R Public Power Agency Staff Report
Date: November 6, 2017 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: Annual Election of Officers Resolution 2013 – 01 Regarding The Election And Duties Of Officers specifies:
“An election of officers by the Commission shall be held on the date of the first regular or adjourned regular meeting in January of each calendar year. Each officer shall hold office at the pleasure of the Agency. All officers for the Agency, except the Treasurer, the Controller, the General Manager, and the General Counsel, shall be elected at the January meeting.”
Recent elected officers of the Agency have been: 2014 2015 2016 2017 President Barry Tippin –
Redding Greg Salyer – Modesto
Pat Kolstad – Santa Clara
Barry Tippin – Redding
Vice President Greg Salyer – Modesto
Pat Kolstad – Santa Clara
Barry Tippin – Redding
James McFall – Modesto
The appointed officers of the Agency are: Secretary: Steve Gross Reappointed by Commission January 30, 2013 Assistant Secretary: Martin Hopper Reappointed by Commission January 30, 2013 Treasurer: Scott van Vuren Appointed by Modesto as MID Treasurer Controller: Jill De Jong Appointed by Modesto as MID Controller
Subsequent to Mr. Tippin being named Redding City Manager, he stepped down as M-S-R PPA Commissioner and as President of the Agency on September 1, 2017. Since that time the office of President has been vacant. At the March 20, 2013 meeting when Resolution 2013 – 01 was adopted, it was suggested that the Commission rotate the officers through the membership of the Commission on an ongoing basis. A rotation of the officers would suggest that Modesto’s Commissioner become the President and Santa Clara’s Commissioner become the Vice President. I recommend the Commission that due to the officer vacancy the Commission conduct its annual election of officers for the offices of President and Vice President at this meeting and make the appointments effective immediately.
{00252361.DOC 1 } 1
AMENDMENT NUMBER 7 TO
AMENDED AND RESTATED MANAGEMENT SERVICES AGREEMENT BETWEEN
MARTIN HOPPER ENERGY CONSULTING AND
M-S-R PUBLIC POWER AGENCY
This Amendment Number 7 to the Amended and Restated Management Services
Agreement Between Martin Hopper Energy Consulting and M-S-R Public Power Agency
with an effective date of January 1, 2010 (“Agreement”) made by and between Martin R.
Hopper, dba, Martin Hopper Energy Consulting (“Contract Executive,” “party” or “parties”)
and M-S-R Public Power Agency (“M-S-R PPA,” “party” or “parties”) is made November 15,
2017 (“Effective Date”) as follows:
RECITALS
A. WHEREAS, the term of the Agreement between the Contract Executive and
M-S-R PPA expires December 31, 2017; and
B. WHEREAS, the parties desire to extend the term of the Agreement for a period
of two years beginning on January 1, 2018 and continuing through December 31, 2020, in
accordance with Section 2 of the Agreement, and keep all other provisions of the Agreement
the same; and
C. WHEREAS the Contract Executive and M-S-R PPA desire to amend the
Agreement to extend its term as desired by the parties.
AGREEMENT
NOW, THEREFORE, the Contract Executive and M-S-R PPA agree as follows:
1. Section 2 of the Agreement is hereby amended to read in its entirety as follows:
“The Agency does hereby appoint the Contract Executive its General
Manager to serve for the term of this Agreement. The Contract Executive hereby
{00252361.DOC 1 } 2
accepts such appointment. This Agreement shall have a term which commences on its effective date of January 1, 2018, and terminates on December 31, 2020, unless terminated earlier, as provided in this Agreement. It is the intent of the parties that this Agreement shall be extended for additional periods of one or two years each. However, such extensions shall be made only at the discretion of the Commission and upon a satisfactory performance review of the Contract Executive by the Commission. Upon termination, the Contract Executive shall make available any office equipment, supplies, and documents in his possession or control which may have been purchased by or for the Agency, except for any equipment or furniture purchased pursuant to Section 4. c, of the Management Services Agreement between M-S-R Public Power Agency and Martin Hopper Energy Consulting effective June 1, 2008.”
2. Except as specifically amended by this Amendment Number 7, all terms and
conditions of the Agreement, including Section 4 regarding Fees and Costs, shall remain
unchanged and in full force and effect.
MARTIN HOPPER ENERGY
CONSULTING
By: _________________________________
Name: Martin R. Hopper
M-S-R PUBLIC POWER AGENCY
By: _________________________________
Name: James McFall
Title: President