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HomeMy WebLinkAboutBPMC Meeting March 16, 2012 2= ALASKA... —_ ENERGY AUTHORITY BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE REGULAR MEETING AGENDA Friday, March 16, 2012 — 10:00 a.m. (via electronic media at the Alaska Energy Authority’s Aspen Room 813 West Northern Lights Boulevard, Anchorage, AK) 4. CALLTOORDER /O & Evans 2. ,-ROLL CALL (for Committee members) 3. /- PUBLIC ROLL CALL (for all others present) 4. PUBLIC COMMENT “/-0%“— 5; GENDA COMMENTS / MOTION FOR APPROVAL — CT ye 6. _LAPPROVAL OF MEETING MINUTES — January 19, 2012 7. NEW BUSINESS T a Amend FY 12 Capital Budget (Action Item) Cunningham Qk =) Approve FY 13 Operating & Capital Budget (Action Item) Cunningham AX. Renew Swalling & Associates Contract (Action Item) Cunningham pow Update on Battle Creek Diversion Project Carey 8. COMMITTEE REPORTS / COMMENTS bods Joe A. Operators Report Jorgensen B. Next Meeting Date Evans 9. ADJOURNMENT 813 West Northern Lights Boulevard Anchorage, Alaska 99503 T 907.771.3000 Toll Free (Alaska Only) 888.300.8534 F 907.771.3044 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.09 400,000.00 0.00 0.00 0.00 120,000.00 2728/201211:26 AM HeinKVeech\Bradiey Lakes Hydrosiectric Project\Budget\FY 131201 3BradieyBdgt Draft 32dsSchedule D R&C Disb & Repay BRADLEY LAKE BUDGET PROJECTED CASH FLOW BY FUND SCHEDULE G Rey Fund O&M Fung Debt Fund Op Reserve R&C Cap Reserve Total FY2012 Budget Revenues 16,203,578 - 16,203,578 Interest 1,502,935 240,000 1,742,935 Transfer back interest : - Transfers to O&M (4,195,189) 4,195,189 : - Transfers to Debt Service (12,100,750) 12,100,750 Payback of R&C Fund (883,074) 883,074 2011 Payables - - - 2012 O&M Requisitions (4,195,189) (4,195,189) 2012 Capital Requistions (361,000) 361,000 . : : Renewals/Replacements (361,000) : (1,400,000) : (1,761,000) To Excess Eamings fund (230,000) (230,000) Payment of Prior Year Deficit - : Debt Payments (12,100,750) (12,100,750) 6/30/2012 Projected Balance 125 944,100 : 839.1: 3, 317 12,778,775 FY2013 Budget Revenues 17,040,067 - 17,040,067 Interest 1,622,874 245,532 1,868,407 Transfer back interest Transfers to O&M (4,608,520) 4,608,520 - Transfers to Debt Service (12,107,850) 12,107,950 Payback of R&C Fund (1,123,204) 1,123,294 O&M Requisitions (4,608,520) (4,608,520) Capital Requistions (520,625) 520,625 : - : Renewais/Replacements (520,625) - (1,565,000) - (2,085,625) To Excess Eamings fund-Arbritrag (220,000) (220,000) Payment of Prior Year Deficit - - Debt Payments (12,107,950) (12,107,950) Decrease Op Reserve (82,552) 82,552 - 6/30/2013 Projected Balance 2,225,126 944,100 = 924,704 3,399,143 42,778,775 20,268,848 Assumption: should be 20.00% For purpose of budget cash flows, July 01 debt service Projected 20.00% is assumed to be disbursed on June 30 2/28/201211:28 AM Hlall\KVeech\Bradley Lakes Hydroelectric Project\Budgef\FY 13\201 3BradieyBdgt Draft 3.xisSchedule G-Cash balances TT GRASTAST TO Shaea saad Bseesee mast at 47040.087.08 142,008.00 1,420,008.00 1,420,008.00 §1,420,008.001,A20.008.00 120,008.00 1,420,008.00 14200800 1,420,008.00 1420,008.00 1420,008.00 1,40, 00108 enn ‘00.00 yon0 = BA7.208.67 100.00 ‘0.00 FED — oo on ee ne on (amaned GEG 6 GamAneR Gee) (WRENN heENEN cs cme GUNA ce (92,107,950.00) 0.00 a00 aca) om 00 000 000 (@.708,078.00) (820,625.00) (108,331.25) (10412500 (104 t2800 enue (058780) GSET.5O) 2825) RBZ = (.AIB.25) comare casas 0.78) 200 mone ax, aco 000 0m ‘aco (18,022,005 88)" (7/436,265.45) (871,082.20) (764,077.00) (412,654.95) (387,078.70) 053. i 1OTa727.11——«131,82533 «138,270.85 «= 198,80000 145,400.08 = 151,883.00 t48\BNS2 | TBEOTI.8 = 18272290 = 100,53967 17487070 «= tTH.TIRED «NASM mas as aa 2728/201211:28 AM HAaliKVeech'Bradiey Lakes Hydrosloctrc ProjectBudgefiFY13120138radieyBdgt Draft 3.x4eSchedule Interest ine Bradley Lake Project Management Committee Meeting Friday, March 16, 2012 Agenda Item: 7B MOTION: Move that the Bradley Lake Project Management Committee approve the fiscal year 2013 Operating and Capital budget as presented. Move: Second: OVERVIEW OF BUDGET CHANGES BETWEEN PROPOSED AMENDED FY12 AND PROPOSED FY13 FY12 Utility Contributions Schedule A Increase in projected interest earnings Decrease in Non R&C Capital - See A1 for detail Increase in debt service Decrease in projected arbitrage transfer Increase in Operating Reserve Increase in R&C Fund Repayment Increase in Net Operations (O&M) TOTAL INCREASES/DECREASES OTHER CHANGES Schedule A Grant revenue for Battle Creek feasibility Grant expense for Battle Creek feasibility NET OTHER CHANGES FY12 Proposed Amended Budget Expenses over Revenues FY13 Utility Contributions 16,203,578 (125,471) (70,375) 7,200 (10,000) 146,052 331,598 413,331 692,335 500,000 (500,000) 0 144,154 17,040,067 BRADLEY LAKE HYDROELECTRIC PROJECT ‘Schedule A OTHER MISC INCOME ‘STATE OF ALASKA BATTLE CREEK FEASIBILITY GRANT ° FY2012 FY2013 BUDGET © PROPOSED PROPOSED ‘BUDGET 16,203,578 17,040,087 1,742,935 1,868,408 o ° 500,000 ° EXPENSES OPERATIONS 4,123,107 9,747,849 4,174,014 4,105,189 4,105,180 4,808,520 RENEWALS/REPLACEMENTS (R&C FUND REPAYMENTS) 1,425,803 4,640,712 802,925 1,123,074 1,087,228 1,968,826 (NON R&C FUND CAPITAL PURCHASES-SEE A1 106,573 (689,454 308.622 361,000 561,000 520,625 GRANT FUNDED PORTION OF BATTLE CREEK FEASIBILITY 0 ° ° 500,000 500,000 ° TRANSFER TO (FROM) OPERATING RESERVE 8,000 86,000 97,260 (63,500) (63,500) 82,652 DEBT SERVICE (net of Capital Reserve Reductions) 12,288,950 12,402,072 12,106,450 12,100,750 12,100,780 12,107,950 ARBITRAGE TRANSFER 325,877 216,349 228,976 280,000 230,000 220,000 18,315,100, Te77OASe 719437 TOM 513 16500067 18 908.473 CURRENT YEAR SURPLUS (DEFICIT) ° 0 ° ° (144,154) ° BEGINNING SURPLUS (DEFICIT) 2 9 cw 2 9 9 * Required to be 20% of budgeted operating expense 228/201 21 1:28 AMH \alNKVecoh\Bradiey Lakes Hydroelectric Project\Bugel\FY 1 312013BradieyBdgt Draft 3.xésSchedule A-Budget Summary ly macy the two duplanes from 2 dueling unit to a 4 dweling unit support apace eee fren apprericepoolan-FY10 ent complet 3 FY duplex for al race repair, dich and forap martanance, Brush removal tthe Gam and s ba eT UL UN Page ‘of 4 BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE B (A) HEA Annual Operations & Maintenance (B) CEA Dispatch and Substation/SVC Maintenance (C) Other O&M and Maintenance Projects (D) Insurance Costs (E) Regulatory Costs (H) Contingencies (F) Administrative Costs 2,181,514 119,327 795,085 615,340 1,801,013 153,124 1,057,274 563,386 319,810 2728/2012 11:25 AM HAaiNKVeech\Bradiey Lakes Hydroelectric Project\Budget\FY 13\201 3BradleyBagt Draft 3.xisSchedule B-Budget Detail Page 2 of 4 BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE B FERC 535 - Operation Supervision & Engineering (A) HEA 08M Contract FERC §37 - Hydraulic Expenses (A) HEA O&M Contract {C) Battie Creek FERC 538 - Electric Expenses (A) HEA O&M Contract (C) HEA Clean Generators #1 & #2 (A) HEA O&M Contract (C) Repair Microwave Tower Waveguide (C) HEA Circuits and Radio - To Bemice Lake (C) CEA Circuits -Bemice Lake to Anchorage FERC 540 - Rents (C) Bradiey Lake FERC land use fees (5% increase b FERC 541 - Maintenance Supervision & Engineering (A) HEA O8M Contract FERC 542 - Maintenance of Structures (A) HEA O8M Contract {C) Architect Review (09) - Structure Maintenance (11 (C) Replace Haylon w/ FM-200 in Oil Separator RM (C) Engineering/design/scope for Equipment Bam (A) HEA O&M Contract (C) Battle Creek Feasibility Study (C) Power Tunnel Maintenance (C) Diversion Tunnel Maintenance (C) North Fork Comm Equipment Replacement (C) Nuka Repair FERC 544 - Maintenance of Electric Plant FERC 539 - Misc. Hydraulic Power Generation Expenses 92,619 92,819 201,203 0 201 427,785 86,300 403 703 180,216 0 180,216 315,736 Proposed FY2013 BUDGET za 113,111 |FERC 543 - Maintenance of Reservoirs, Dams & Waterways: 77,498 0 15,000 o 5,000 46,656 142,257 9,180 o 2/28/2012 11:25 AM HAaINKVeech\Bradiey Lakes Hydroelectric ProjechtBudgef\FY 131201 3BradieyBdgt Draft 3.xisSchedule B-Budget Detail Page 3 of 4 BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE B (A) HEA O&M Contract (C) Maint. Study (09)-Replace Control Room Co |FERC 545 - Maintenance of Misc. Hydraulic Plant (A) HEA O&M Contract (C) Automate Fish Water Design (C) Transfer Switch for PT Gatehouse (C) Fish Water Design & Middle Fork Equip. Shack FERC 556 - System Control & Load Dispatching (A) HEA O&M Contract (A) HEA-Power House PCs & Develop Electronic Ops {C) SCS Snow Measurement {C) UAA Seismic monitoring and reporting (C) USGS Streamgauging {C) State of Alaska Permits FERC 562 - Station Expenses (B) CEA SVC/Substation Maintenance Contract {C) Daves Creek SVC Cooling System FERC 571 - Maintenance of Overhead Lines (A) HEA Overhead Line Maintenance (C) Bradley Junction switch removal FY2011 FY2011 BUDGET ACTUAL 359,824 242,543 o | __ 369,824 242,543 | 148,909 104,058 0 o 5,000 o 000 o 104,058 63,444 54,139 9,305 65,012 40,279 58,493 15,000 16,232 (1,232) 10,500 20,107 30,500 9,270 16,275 (7,005) 10,500 10,000 10,500 56,500 (56,464 % 56,500 0 56,500 232,670 358,406 (125,736)| 244,500 19,085 244,304 100 100 o 100 a 4 376,984 501,615 124 631) 387,11 19,779 133,500 313,610 289,202 (24,408 317,708 197,441 362,239 210,000 | 313,61 24, 317, 197,441 oO 250 {250)) oO o o 200, 00 o 200,000 200,000 200,000 200,000 ° 200,000 200,000 200,000 ] 15,950 14,000 1,950 15,400 Oo 15,400 25,000 44,681 (19,681) 25,000 7,348 25,000 5,000 5,720 (720)| 5,200 3.875 5,200 14,756 5, 20, 959 15,000 65,950 79,157 (13,207) L 65,600 16,982 60,600 == me ——— (2728/2012 11:25 AM HilalliKVeech\Bradiey Lakes Hydroelectric ProjectBudget\FY 13\2013BradleyBdgt raft 3.x'sSchedule B-Budget Detail BRADLEY LAKE OPERATIONS & MAINTENANCE SCHEDULE B 31-Dec-11 FY2011 FY2011 FY2012 FY2012 BUDGET ACTUAL — VARIANCE BUDGET um FERC 924 - Property Insurance 542,003 612,427 29,576 542,003 484,851 (0) Homer Electric Insurance 58,337 50,959 7,378 60,087 25,399 {C) Battle Creek Feasibility Study 0 130 (130)] ° 0 {D) Risk Assessment 15,000 0 15,000 1 it 6 5 517, i FERC FERC administrative fees 202,674 232,714 (30,040) 205,500 o (E) FERC Part 12 Inspection 75,000 4,136 70,864 27,000 17,308 {E) Contractual Engineer - FERC license issues 136,000 82,960 53,040 74,000 23,340 (C) Battle Creek Feasbiity Study 0 54,790 (54,790) 0 ° 413,674 374, 39,074 500 TOTAL BRADLEY LAKE BUDGET 174,014 216876 195,189 21262012 11:25 AM Page 4 of 4 H:\all<Veech\Bradiey Lakes Hydroelectric ProjecttBudget\FY 13\2013BradieyBdgt Draft 3.xdsSchedule B-Budget Detail BRADLEY LAKE MONTHLY UTILITY CONTRIBUTION SCHEDULE C PROPOSED ACTUAL ACTUAL BUDGET BUDGET PERCENT FY2010 FY2011 FY2012 FY2013 FY2013 POWER PURCHASER SHARE TOTAL TOTAL IOTAL TOTAL Change CHUGACH ELECTRIC 30.4% 5,164,692 5,276,652 4,925,892 5,180,184 254,292 MUNICIPALITY OF ANCHORAGE 25.9% 4,400,184 4,495,572 4,196,724 4,413,372 216,648 AEG&T-HEA 12.0% 2,038,692 —-2,082,888 1,944,432 2,044,812 400,380 AEG&T-MEA 13.8% 2,344,500 —-2,395,320 2,236,092 2,351,532 115,440 GOLDEN VALLEY ELECTRIC 16.9% 2,871,156 2,933,400 2,738,400 2,879,772 141,372 CITY OF SEWARD 1.0% 169,896 173,580 162,036 170,400 8,364 Rounding 14) 2 700.0% 16,960,106 17,367,414 ACTUAL — ACTUAL FY2010 FY2011 PERCENT MONTHLY MONTHLY FY2012 FY2013 FY2013 POWER PURCHASER SHARE AVERAGE AVERAGE MONTHLY MONTHLY Change CHUGACH ELECTRIC 30.4% 430,391 439,721 410,491 431,682 21,191 MUNICIPALITY OF ANCHORAGE 25.9% 366,682 374,631 349,727 367,781 18,054 AEG&T-HEA 12.0% 169,891 173,574 162,036 170,401 8,365 AEG&T-MEA 13.8% 195,375 199,610 186,341 196,961 9,620 GOLDEN VALLEY ELECTRIC 16.9% 239,263 244,450 228,200 239,981 11,781 CITY OF SEWARD 1.0% 14,158 14,465 13,503 14,200 697 700.0% 1,415,760 1,446,451 7,350,206 7,420,006 69,708 2/28/201211:26 AM H:\all\KVeech\Bradley Lakes Hydroelectric Project\Budget\FY 13\2013BradieyBdgt Draft 3.xisSchedule C Utility Contrib = L BPMC Mad oe 201R, a ) 10:00. 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