HomeMy WebLinkAboutRes 1994-06 Bradley Lake BudgetALASKA ENERGY AUTHORITY
RESOLUTION NO. 1994-06
A RESOLUTION OF THE ALASKA ENERGY AUTHORITY
RELATING TO THE ADOPTION OF A BUDGET OF
ANNUAL PROJECT COSTS FOR THE FISCAL YEAR
ENDING JUNE 30, 1995, FOR THE BRADLEY LAKE
HYDROELECTRIC PROJECT
WHEREAS, it is the duty of the Project Management Committee for the
Bradley Lake Hydroelectric Project (the "Committee") to adopt a budget of Annual
Project Costs for each fiscal year pursuant to Section 13 (c)(ii)(C) of the Power Sales
Agreement dated as of December 8, 1987 (the "Agreement") for the said project; and
WHEREAS, the budget of Annual Project Costs proposed by the Budget
Subcommittee did not include all of the Alaska Energy Authority's ("Authority")
administrative costs; and
WHEREAS, the Authority voted against the budget for failure to include all
of the Authority's administrative costs; and
WHEREAS, the budget of Annual Project Costs requires the affirmative
vote of the Authority pursuant to Section 13 (b); and
WHEREAS, as a result of the Authority's vote, the Committee has failed to
adopt a budget which includes the items required by said Section 13 (c)(ii)(C); and
WHEREAS, pursuant to Section 13 (e) of the Agreement it is now the duty
of the Alaska Energy Authority (the "Authority") to adopt a budget of Annual
Project Costs and seek such other action and do such other things as is required by
Section 13 (e) and Section 709 of the Alaska Energy Authority Power Revenue Bond
Resolution; and
WHEREAS, the Authority has considered a proposed form of budget of
Annual Project Costs complying in all respects with the provisions of the
Agreement and the Power Revenue Bond Resolution;
NOW, THEREFORE, BE IT RESOLVED BY THE ALASKA ENERGY
AUTHORITY, that the Annual Budget for the Fiscal Year endin!f June 30, 1995 in
the form presented to this meeting be and the same hereby 1s adopted as the
Annual Budget for the Bradley Lake Hydroelectric Project.
DATED at Anchorage, Alaska this 13th day of May 1994.
, , ·, il; I.
,·1 ."1. ~_:· · ALASKAENERGYAUTHORITY
.i ,''\ <Ch~? Lf?sJ···· ...
Secretary
-·· .r·
Alaska Energy Authority
March 31, 1994
Ms. Diana Woodard
Vice President
Corporate Trust and Agency
BankAmerica State Trust Company
P.ll>. Box 24425
Seattle, Washington 98124-0425
Subject: Alaska Energy Authority Power Revenue Bonds
$105,001,142 First Series and $60,259,015.10 Second Series
Bradley Lake Hydroelectric Project FY95 Budget
Dear Ms. Woodard:
In compliance with Section 709, Annual Budget of the Alaska Energy Authority
Power Revenue Bond Resolution adopted September 7, 1989, I am pleased to
file with your office the FY95 Annual Operating Budget for the Bradley Lake
Hydroelectric Project which has been adopted by the Authority separately, in
accordance with section 13(e) of the Power Sales Agreement.
Sincerely,
Executive Director
WRS/sd
Enclosure
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
ESTIMATED REVENUES AND EXPENDITURES BY FUND
RENEWAL& CAPITAL OPERATING DEBT
REVENUE OPERATING CONTINGENCY RESERVE RESERVE SERVICE
f.!.lliQ FUND FUND FUND FUND TOTAL
Utility Payments 14,270,563 14,270,563
Interest Receipts 279,407 990,922 369,482 39,483 1,679,294 ,~
Total Revenues 14,549,970 0 990,922 369,482 39,483 0 15,949,857
Transfers (14,549,970) 2,558,572 (990,922) (369,482) (39,483) 13,391,285 0
Operating Expense (2,558,572) (2,558,572)
Debt Service (13,391 ,285) (13,391,285)
0 0 0 0 0 0 0
REV.XLS
BRADLEY O&M FY 95 BUDGET
ADMINISTRATIVE COSTS OPERATIONS/ TOTAL FY94
DIRECT INDIRECT IQ1Ab MAINTENANCE BUDGET BUDGET
FERC535
Direct Personal Services -Anchorage staff 37,208
Contract -Bradley Lake FERC Ucensing 0 0 0 27,210
HEA O&M Contract 124,000 124,000 174,896
0 0 0 124,000 124,000 239,314
FERC537
HEA O&M Contract 47,000 47,000 49 000
0 0 0 47,000 47,000 49,000
F> 'f-, I
FERC538 i' J
HEA O&M Contract
FERC539
Direct Personal Services-Anchorage Staff 51,223
Div Com Contract -Bradley 0 105,000 105,000 69,000
HEA O&M Contract 215,500 215,500 221 746
0 0 0 320,500 320,500 341,969
FERC540
Commercial Drive Warehouse 0 0 6,500
Bradley Lake FERC land use fees 0 60,000 60,000 85,000
0 0 0 60,000 60,000 91,500
FERC542
HEA O&M Contract 8,000 8,000 9,000
0 0 0 8,000 8,000 9,000 1i
FERC543 '
HEA O&M Contract 15,600 15,600 0
0 0 0 15,600 15,600 0
FERC544
HEA O&M Contract 423,000 423,000 259 800
0 0 0 423,000 423,000 259,800
Page1 3130194/5:44 PM, 95BRFERC.XLS
BRADLEY O&M FY 95 BUDGET
ADMINISTRATIVE COSTS OPERATIONS/ TOTAL FY94
DIRECT INDIRECT !QIA!. MAINTENANCE BUDGET BUDGET
FERC545
HEA O&M Contract
FERC556
Direct Personal Services-Anchorage staff 0
CEA Dispatch Contract 0 122,720 122,720 122,720
SCS Snow Measurement 0 12,000 12,000 12,000
NOAA Weather Service 0 6,000 6,000 6,000
USGS streamguaging 0 110,000 110,000 110,000
CEA Software Dispatch Program Amortization 0 20,000 20,000 20,000
RSA with UAA for Bradley Seismic monitoring 0 50,000 50,000 30,000
HEA O&M Contract 0 23,500 23,500 63,000
0 0 0 344,220 344,220 363,720
FERC562
CEA SVC Maintenance Contract 0 56,020 56,020 0
HEA Junction Maintenace Contract 0 2,000 2,000 2,200
0 0 0 58,020 58,020 2,200
FERC571
HEA OVerhead Line Maintenace Contract 0 23,000 23,000 39,000
0 0 0 23,000 23,000 39,000
FERC920
Personal Services -AEA staff
Director Facility Ops 40,495. 40,495 40,495
) Accountant 27,860 27,860 27,860
Accountant 20,440 20,440 20,440
Administrative Assistant 17,395 17,395 17,395
Deputy Director Finance 4,224 4,224 4,224
Procurement Manager 6,504 6,504 6,504
. Executive Director 4,820 4,820 4,820
Contracts Manager 39,520 39,520 39,520
Deputy Director Energy 20,420 20,420 20,420
Project Manager 5,845 5,845 5,845
187,523 0 187,523 0 187,523
Administrative expenses (salaries & non personal services) 0 0 417,243
Page2 3/30/94/5:44 PM, 95BRFERC.XLS
BRADLEY O&M FY 95 BUDGET
ADMINISTRATIVE COSTS OPERATIONS/ TOTAL FY94
DIRECT INDIRECT !Qlli MAINTENANCE BUDGE! BUDGET
FERC 920 (cont)
AEA staff Travel
• 2 trips/month Juneau travel costs 4,284 4,284 4,284
• 2 trips/month Juneau per diem 1,714 1,714 1,714
• ASCC ( 4/year) 1,428 1,428 1,428
• Bradley O&M (2/month) 12,000 12,000 12,000
• Bradley PMC Meetings (1/month) 2,000 2,000 2,000
Attorney General Travel
• 2 trips/month Juneau travel costs 4,284 4,284 4,284 --J • 2 trips/month Juneau per diem 857 857 857
Board Travel
• 1 x 1 Fbks to Homer 179 179 179
• 3 x 1 Juneau to Homer 250 250 250
• 2x 1 Ancto Homer 143 143 143
•1x6FbkstoAnc 643 643 643
• 3 x 6 Juneau to Anc 3,213 3,213 3,213
Annual audit 12,495 12,495 12,495
Annual report printing/publishing 5,355 5,355 5,355
Office space ($1.50/ft for 1500 sq ft) 9,639 9,639 9,639
AIDEA-office equip, phone, courier, supplies 1,607 1,607 1,607
Accounting System consultant (maintenance) 2,142 2,142 2,142
Courier services 714 714 714
Long distance telephone services 2,142 2,142 2,142
DP equipment repair & replacement 3,570 3,570 3,570 i Offsite Storage 6,500 6,500 6,500
Bradley Lake 5 year inspection consultant 15,000 15,000 15,000 15,000
Bradley Lake Attny General 25,000 25,000 25,000 25,000
AEA Administrative Costs
'
248,023 54,659 302,682 0 302,682 457,243
Page3 3130/94/5:44 PM, 95BRFERC.XLS
BRADLEY O&M FY 95 BUDGET
ADMINISTRATIVE COSTS OPERATIONS/ TOTAL FY94
DIRECT INDIRECT TOTAL MAINTENANCE BUDGET BUDGET
PMC Costs
Bradley Lake PMC Legal 75,000 75,000 75,000 75,000
Bradley Lake Trustee fees 20,000 20,000 20,000 20,000
Bradley Lake Audit fees 15,000 15,000 15,000 15,000
Bradley Lake PMC Budget 15,000 15,000 15,000
Bradley Lake PMC Recording 18,000 18,000 18,000 18,000
Bradley Lake PMC Travel 0 0 0 38,000
PMC Costs 143,000 0 143,000 0 143,000 166,000
TOTAL FERC 920 391,023 54,659 445,682 0 445,682 623,243
FERC924
Risk Management Travel
• 2 trips/year Juneau travel costs 357 357 357
• 2 trips/year Juneau per diem 143 143 143
RSA with Risk Management for insurance 17,850 17,850 17,850
Bradley Lake Insurance
FERC928
Contract-Bradley Lake FERC Licensing 27,000 27,000 27,000
Bradley Lake FERC administrative fees 50,000 50,000 50,000 50,000
77,000 0 77,000 0 77,000 50,000
TOTAL AEA BUDGET 743,023 73,009 816,032 1,742,540 2,558,572 2,707,215
HEA O&M Contract Total 0 0 0 1,175,800 1,175,800 1,165,087
' ' ~-I
Page4 3130/94/5:44 PM, 95BRFERC.xt.S
BRADLEY O&M FY 95 BUDGET
ADMINISTRATIVE COSTS OPERATIONS/ TOTAL FY94
DIRECT INDIRECT TOTAL MAINTENANCE BUDGET BUDGET
COMPARISON TO FY94 BUDGET
FY94 Budget 506,824 417,243 924,067 1,783,148 2,707,215
~ Direct Salaries 187,523 187,523 (88,431) 99,092
Travel previously In O&M 14,000 14,000 14,000
Decreased lndirects (Included salaries) (344,234) (344,234) (344,234)
PMC Budget preparation 15,000 15,000 15,000
PMC Travel decrease (38,000) (38,000) (38,000)
Insurance increase 24,176 24,176 24,176
Transfer of activities to HEA 0 10,713 10,713
Increased Circuit Maintenance 0 36,000 36,000
Increased Seismic Monitoring 0 20,000 20,000
Offsite storage costs 6,500 6,500 6,500
Decreased Comm Drive Warehouse 0 (6,500) (6,500)
Decreased FERC Land Use Fee 0 (25,000) (25,000)
Increased SVC Maintenance 0 56,020 56,020
Decreased Junction Maintenace 0 (200) (200)
Decreased Overhead Une Maintenace 0 (16,000) (16,000)
FERC Licensing admin reclass 27,000 27,000 (27,000) 0
Decreased FERC licensing 0 (210) (210)
FY95 AEA BUDGET 743,023 73,009 816,032 1,742,540 2,558,572
PageS 3/30194/5:44 PM, 95BRFERC.XLS