HomeMy WebLinkAbout2020-07-24 BPMC Agenda and docsBRADLEY LAKE PROJECT MANAGEMENT COMMITTEE (BPMC)
MEETING AGENDA
Friday, July 24, 2020 via teleconference
Immediately Following the 9:00 a.m. IMC Meeting
To participate dial 1-888-585-9008 and when prompted, enter code 676-392-603#
1. CALL TO ORDER
2. ROLL CALL FOR COMMITTEE MEMBERS
3. PUBLIC ROLL CALL
4. PUBLIC COMMENTS
5. AGENDA APPROVAL
6. PRIOR MINUTES – May 29, 2020
7. NEW BUSINESS
A. Annual Elections
B. Construction camp storage AEA
C. Resolution 20-02 Adoption of O&D Report
O&D Review of Proposed Transaction
Definition of Prudent Utility Practice – Power Revenue Bond Resolution AEA
D. Resolution 20-03 Approval of Proposed Transaction Financing
Financing Term Sheet AEA
E. Motion – Power Sales Agreement - Excess Payments AEA
8. OLD BUSINESS
A. Battle Creek Project Update AEA
B. Operators Report HEA
C. O&D Report GVEA
9. COMMITTEE REPORTS – Budget to Actual Budget Subcommittee
10. EXECUTIVE SESSION – Discuss confidential matters related to Battle Creek Claims
and S/Q Line
11. COMMITTEE ASSIGNMENTS
12. MEMBERS COMMENTS
13. NEXT MEETING DATE - Friday, September 25, 2020
14. ADJOURNMENT
FERC P-8221-AK / Orion Project #09P50041
July 14th, 2020
Bryan Carey, P.E. – Project Manager
Alaska Energy Authority
813 W Northern Lights Blvd
Anchorage, AK 99503
Subject: Orion Camp Storage
Bryan,
As discussed, Orion is interested in exploring options to store the camp used on the Bradley Lake Project
on site after project completion until it is time to mobilize to it’s next location. Timeframe would be
discussed and established prior to executing an agreement. Camp would be left on site, fully
decommissioned and ready to be loaded on a barge as it is stored. Please let me know any
questions/comments or additional details you may need. Your time and assistance is greatly appreciated.
Thanks Bryan.
Sincerely,
Douglas M. Dorton
Project Manager
Orion Marine Group
O-(907)561-9811
C-(907)205-6402
ddorton@orionmarinegroup.com
BPMC Resolution No. 20-02; Adoption of O&D Report
on Proposed Transaction and Required Work Determination Page 1 of 4
BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE
RESOLUTION NO. 20- 02
PROPOSED PURCHASE OF TRANSMISSION ASSETS
ADOPTION OF O&D COMMITTEE REPORT ON PROPOSED TRANSACTION
FINDING OF REQUIRED WORK
INTRODUCTION
This Resolution 20-02 addresses the analyses of the O&D Committee (Bradley O&D) to
the Bradley Lake Project Management Committee (BPMC) concluding that the purchase
of electric transmission facilities and properties which are currently used by Homer
Electric Association, Inc. (HEA) to provide electric service to Purchasers1 of the Bradley
Lake Hydroelectric Project (Project) is consistent with national standards for the industry
and is necessary to keep the Project in good and efficient operating condition.
BACKGROUND
On May 22, 2020 Alaska Energy Authority (AEA) and HEA entered into a Letter of Intent
containing the terms and conditions under which AEA would purchase and HEA would
sell certain electric transmission facilities and properties that are currently used by HEA
to provide electric service to Purchasers of the Project (Proposed Transaction). The
Members of the BPMC supported the Proposed Transaction. The Department of Law for
the State of Alaska (DOL) reviewed a draft of the Letter of Intent and issued a
Memorandum Opinion dated May 20, 2020 finding that the definition of “Required Work”
set forth in the Agreement for the Sale and Purchase of Electric Power by and among
The Alaska Power Authority and The Chugach Electric Association, Inc.. The Golden
Valley Electric Association, Inc., The Municipality of Anchorage d/b/a Municipal Light &
Power, The City of Seward d/b/a Seward Electric System, and The Alaska Electric
Generation & Transmission Cooperative, Inc. (Power Sales Agreement) could include
the Proposed Transaction. The DOL stated that additional analysis should be done with
respect to how the Proposed Transaction is consistent with sound economics and
national standards. The AEA determined that the Bradley O&D was capable of
1 The Purchasers receiving this service are Chugach Electric Association, Inc. (CEA), City of Seward
d/b/a/ Seward Electric System (Seward), Golden Valley Electric Association, Inc. (GVEA), Matanuska
Electric Association, Inc. (MEA), and The Municipality of Anchorage d/b/a Municipal Light & Power
(ML&P).
BPMC Resolution No. 20-02; Adoption of O&D Report
on Proposed Transaction and Required Work Determination Page 2 of 4
performing the analysis cited by the DOL. On June 12, 2020 Bradley O&D commenced
with said review and analysis to determine whether the Proposed Transaction is
consistent with sound economics and national standards. The Bradley O&D issued its
report on July 17, 2020. The BPMC has reviewed the Bradley O&D Report.
This Resolution No. 20-02 adopts the Report of Bradley O&D and finds that the Proposed
Transaction meets the definition of Required Work set forth in the Power Sales
Agreement.
BPMC RESOLUTION NO. 20-02
WHEREAS, On May 22, 2020 AEA and HEA entered into a Letter of Intent containing the
terms and conditions under which AEA would purchase and HEA would sell certain
electric transmission facilities and properties that are currently used by HEA to provide
electric service to Purchasers of the Project;
WHEREAS, Chugach, GVEA,MEA, ML&P, and Seward fully support the Proposed
Transaction, subject to any required final approval of the governing bodies of the
individual Members;
WHEREAS, The DOL issued a Memorandum Opinion dated May 20, 2020 finding that
the definition of “Required Work” set forth in the Power Sales Agreement could include
the Proposed Transaction;
WHEREAS, The DOL Memorandum Opinion stated that additional analysis should be
done with respect to how the Proposed Transaction is consistent with sound economics
and national standards;
WHEREAS, AEA deemed it appropriate for the Bradley O&D to perform the analysis to
satisfy the requirement set forth in the DOL Memorandum Opinion;
WHEREAS, On June 12, 2020 the Bradley O&D commenced its review and analysis of
the Proposed Transaction to ascertain whether the Proposed Transaction is necessary
to keep the Project in good and efficient operating condition consistent with sound
economics and national standards;
WHEREAS, the Bradley O&D reviewed National and Railbelt reliability standards, the
Power Sales Agreement, the Proposed Transaction, the 2017 AEA Railbelt Transmission
Plan and Economic Analysis, the Power Revenue Bond Resolution, as well as real-time
data from SCADA and financial information for each utility receiving power from the
Project to evaluate whether the Proposed Transaction was consistent with national
industry standards;
BPMC Resolution No. 20-02; Adoption of O&D Report
on Proposed Transaction and Required Work Determination Page 3 of 4
WHEREAS, the Bradley O&M analyzed various real-time data including hourly power
data at Soldotna and Quartz Creek Substations, Project generation data, and individual
utility generation and fuel-related data to determine the economic impact of the line being
out of service on the respective utilities receiving power from the Project to evaluate
whether the Proposed Transaction was consistent with sound economics ;
WHEREAS, On July 17, 2020 the Bradley O&D finalized and issued its report on the
Proposed Transaction which is attached to hereto and made part of this Resolution No.
20-02 (Bradley O&D Report);
WHEREAS, the Bradley O&D Report determined the economics for the Proposed
Transaction to be sound, citing in support of its review of the cost to the utilities receiving
power from the Project when the transmission facilities are out of service, the loss of
energy sales for the Project economics when the transmission facilities are out of service,
the expected benefits of a significant increase in access to utility resources for repair,
maintenance and upgrades to the lines serving the Project, the increased reliability of the
Project, and the alignment of costs and benefits of the utilities requiring the transmission
services;
WHEREAS, the Bradley O&D Report also found that the utilities being served by the
Project will operationally benefit from the alignment of cost responsibility (i.e., cost causer
is cost payer) to all of the Project Participants;
WHEREAS, the Bradley O&D Report also found that the change of ownership and
resulting access to significantly increased utility resources, as well as the repairs and
upgrades contemplated by the Proposed Transaction, the increased reliability of the
Project, and resulting increase in energy sales was necessary to keep the Project in good
and efficient operating condition;
WHEREAS, the Bradley O&D determined that that the Proposed Transaction is fully
consistent with the meaning of “Prudent Utility Practice” as defined by the Power Revenue
Bond Resolution and thus the Proposed Transaction meets the national standards for the
electric utility industry;
WHEREAS, the Bradley O&D concluded that the purchase of the HEA transmission
assets by AEA is “Required Work” as that term is defined in the Power Purchase
Agreement.
WHEREAS, the BPMC is aware and understands that AEA will have the findings and
conclusions of the Bradley O&D reviewed and certified by an independent consulting
engineer;
BPMC Resolution No. 20-02; Adoption of O&D Report
on Proposed Transaction and Required Work Determination Page 4 of 4
WHEREAS, The BPMC has reviewed the Bradley O&D Report and finds the analyses of
the Bradley O&D to be appropriate for purposes of determining whether the purchase of
the HEA transmission assets by AEA is “Required Work” as that term is defined in the
Power Purchase Agreement; and,
WHEREAS, The BPMC also finds the conclusions of the Bradley O&D Report are
supported by the data and analyses performed.
THEREFORE, BE IT RESOLVED THAT, the BPMC adopts the Bradley O&D Report and
the findings and conclusions therein;
BE IT ALSO RESOLVED THAT, the Proposed Transaction is consistent with sound
economics;
BE IT ALSO RESOLVED THAT, the Proposed Transaction is necessary to keep the
Project in good and efficient operating condition and is consistent with national industry
standards applicable to the electric utility industry; and,
BE IT ALSO RESOLVED THAT, the BPMC continues to fully support the Proposed
Transaction, subject to any required final approval of the governing bodies of the
individual Members and considers the Proposed Transaction as the foundation for future
upgrades to the Railbelt Transmission System.
DATED at Anchorage Alaska, this 24th day of July, 2020.
______________________________________
Chair, Anthony M. Izzo
Attest: ______________________________
Secretary, Curtis Thayer
BPMC AGENDA ITEM 7D
Motion Regarding Review of Excess Payment Obligation
BACKGROUND:
AEA has prepared a White Paper concerning the Excess Payment obligation set forth in
the Power Sales Agreement to be effective once the Bradley L ake Bonds are repaid. AEA
has calculated the Excess Payment obligation to be approximately $12.5 million. The
actual Excess Payment Amount will be reduced by any debt service included in Annual
Project Costs that is associated with the bonds or other debt issued to fund Required
Project Work.
Due to the complexity and importance of the Excess Payment obligation calculation, AEA
would like to engage the services of an independent financial advisor with experience in
hydroelectric project financings. An additional legal opinion regarding assumptions used
in the calculation may also be warranted. The cost of the report and/or opinion would be
considered an Annual Project Cost to be funded by the Project.
MOTION:
____________ hereby moves the BPMC to direct AEA to obtain a determination of the
amount due under the Excess Payment provisions of the Power Sales by using a third-
party financial advisor with experience in hydroelectric project financings and, if
necessary, obtain a legal opinion . AEA may use a financial advisor and/or counsel
currently under an existing AEA contract or similar arrangement.
Seconded by _______________________
{01024957}Page 1
Alaska Energy Authority
Bradley Lake Hydroelectric Project
Retirement of Bonds and Excess Payments
White Paper-June 2020
Purpose
The purpose of this White Paper is to provide information regarding: 1) the release of
amounts held in the Capital Reserve in connection with Original Bonds and Refunding Bonds,
and 2) the “Excess Payment” obligations of the utilities under the Power Sales Agreement (as
defined herein).
For purposes of this White Paper, certain definitions follow:
1. “AEA” means Alaska Energy Authority, formerly known as the Alaska Power
Authority.
2. “Bonds” means all bonds issued under, and pursuant to, the Bond Resolution.
3. “Bond Resolution” means AEA’s Bradley Lake Power Revenue Bond Resolution,
dated September 7, 1989, as amended and supplemented from time to time.
4. “Original Bonds” means, together, those power revenue bonds issued by AEA to
finance a portion of the cost of the Project, consisting of:
a. $105,001,142 principal amount of Power Revenue Bonds, First Series (“First
Series”); and
b. $60,259,015.10 principal amount of Power Revenue Bonds, Second Series
(“Second Series”).
5. “PSA” means that Power Sales Agreement, dated December 8, 1987.
6. “Refunding Bonds” means, collectively, those power revenue bonds issued by AEA
to refund portions of the outstanding Original Bonds, consisting of:
a. $59,485,000 principal amount of Power Revenue Refunding Bonds, Third
Series (“Third Series”);
b. $47,710,000 principal amount of Power Revenue Refunding Bonds, Fourth
Series (“Fourth Series”);
c. $30,640,000 principal amount of Power Revenue Refunding Bonds, Fifth
Series (“Fifth Series”); and
d. $28,800,000 principal amount of Power Revenue Refunding Bonds,
SixthSeries (“Sixth Series”).
{01024957}Page 2
Background
Excess Payment Obligation
The State funded approximately half of the construction cost of the Bradley Lake
Hydroelectric Project (“Project”) in the form of equity. In order to allow the State to recover some
of its equity contribution to the Project, the PSA obligates the Project utilities to make annual
Excess Payments after the Original Bonds and Refunding Bonds are retired.1 The Excess Payments
are addressed in Section 29 of the PSA.
The annual Excess Payment Amount equals the average debt service over the life of the
Original Project bonds that financed the Project, minus debt service included in Annual Project
Costs as defined in the PSA for any Required Project Work.
Excess Payments are also capped at $0.04 per kilowatt hour. The payment is not a take‐or-
pay obligation so each utility only pays for their pro-rata share as defined in the PSA for power
actually delivered.
Questions and Answers
Question: When may amounts held in the Capital Reserve Subaccounts (securing payment
of the Original Bonds and Refunding Bonds) be released if such Bonds are not retired prior to
maturity (7/1/2021)?
Answer: Following the principal and interest payment due 7/1/2020, we expect
$1,325,512 will be released from the Capital Reserve Subaccounts related to the outstanding
Original Bonds and Refunding Bonds. AEA will initiate this release after payment of the 7/1/2020
debt service.
The remaining balance held in the Capital Reserve Subaccounts related to the outstanding
Original Bonds and Refunding Bonds ($11,453,263) will be released after 7/1/2021 when such
Bonds are retired (paid in full).
Question: What is the amount of the Excess Payment obligation?
Answer: AEA has calculated the annual Excess Payment obligation and believes it to be
approximately $12.5 million. Due to the complexity and importance of the Excess Payment
obligation calculation AEA recommends the Project utilities direct AEA to obtain a third-party
determination of the amount due by a financial advisor with experience in hydroelectric project
financings. If agreed to by the Project utilities, AEA may use a financial advisor currently under
an existing AEA contract. The cost of such report would be considered an Annual Project Cost to
be funded by the Project. An additional legal opinion regarding assumptions used in the calculation
may also be warranted.
1 Testimony of Robert LeResche, then Executive Director of the Authority, at House Judiciary Committee
(1/27/1988), transcript at pg. 10. Note, however, that the PSA describes the Excess Payments as payments by the
utilities in recognition of efforts to obtain an intertie. Section 29, PSA.
{01024957}Page 3
The Excess Payment Amount will be reduced by any debt service included in Annual
Project Costs that is associated with the bonds or other debt issued to fund Required Project Work.
Question: When does the Excess Payment obligation begin?
Answer: After the retirement of all Original Bonds and Refunding Bonds issued to finance
(or refinance) “recoverable construction costs” for constructing the Bradley Lake Project. The PSA
requires the Excess Payment Amount to be included in Annual Project Costs (defined in the PSA).
Unless retired earlier, on July 1, 2021 all Original Bonds and Refunding Bonds will be paid off
and the Excess Payment Amount will be required to be included in Annual Project Costs (FY22
budget year), and charged to utilities for their purchases of Project power.
Question: How will the Excess Payment Amount be paid?
Answer: The Excess Payment Amount is required to be included in Annual Project Costs
and will be included in the annual Project operating budget. The payment will be made to the
Authority by the participating utilities. The Authority will then transfer the funds to the State of
Alaska Railbelt Energy Fund for appropriation by the Legislature. The Excess Payment Amount
(approximately $12.5 million) would be included in the Annual Bradley budget as an expense, and
would be funded by the monthly payments made by the utilities.
At the end of each fiscal year a payment reconciliation will be performed to ensure
sufficient amounts have been paid by the Project Utilities but not in excess of the Excess Payment
Amount cap (4 cents per kilowatt hour of delivered power). In general, we do not anticipate the
cap to be a limitation as in most years the delivered power has been above the amount required to
reach $12.5 million as the Excess Payment Amount. The Authority compares total actual Annual
Project Costs (which would include the Excess Payment Amount) to revenues collected at the end
of the fiscal year and refunds any excess to the participating utilities or bills for any deficiency.
It is important to note that the total annual Excess Payment Amount (and the amount
available to appropriate by the Legislature) will not be known until the end of the fiscal year when
total delivered power is known and the Excess Payment cap can be calculated.
Question: When will the Excess Payment Amount be available for appropriation?
Answer: The appropriation of the Excess Payment Amount remitted to the Railbelt Energy
Fund could be structured in several different ways. The cleanest approach would be to collect the
amount allowed under the PSA from the utilities as an Annual Project Cost and remit the amount
due to the Railbelt Energy Fund for the fiscal year (on June 30, 2022 or soon thereafter for FY22).
Legislation would then be included in the FY24 budget (being drafted in FY23) to appropriate the
FY22 Excess Payment Amount. Under this methodology there would be a two- year lag between
when the Excess Payment Amount is paid to AEA by the Utilities and the State budget year the
funds could be available to be appropriated and spent. Earlier timing might be possible but there
would be limitations on cash flow availability as AEA could only remit payments to the State
based on delivered power until the cap is exceeded (312.5 megawatts) and the maximum payment
is earned by the State.
Page 1 of 1
BPMC Update
West Fork Upper Battle Creek Update
July 24, 2020
Events:
Contractor has completed piping between diversion dam and outfall to
Bradley Lake.
Flow meters installed.
Final electrical & control work in process. Lines to be energized Saturday
July 18th.
On-going work electrical, controls, air vent valves along pipe, surface
course.
Substantial Completion inspection & testing July 22, 2020.
Schedule:
Contract substantial completion date July 22, 2020 and final completion date
August 31, 2020 has not changed.
Budget:
Construction contract bid was $36.476M. Current Contract Amount $37.458M.
Bradley Lake Operator Report Page 1
Bradley Lake Operators Report
O&D and BPMC
July 17, 2020
Unit Statistics:
Generation Unit 1 (MWhrs) Unit 2 (MWhrs) Total (MWhrs)
June
July *
18,037
7,693
14,9968
5,211
33,005
12,904
Hydraulics Avg. Lake Level (ft.) Usage (ac ft.) Fish water (CFS)
June
July *
116.2
1124
37,604
19,099
124.9
123.1
Lake Level 1113.7 – *as of July 17, 2020
Spill is at 1180’ Lake Minimum at 1080’
Capital Projects:
1) Lake Level – The lake level is slightly below average for this time of year.
2) Mechanical Divider issue – On hold.
3) Generator 2 Poles Repair – On Hold.
4) Battle Creek – extensive effort is being applied form the plant to facilitate the
completion of Battle Creek. We are working hard to integrate and test the new
plant controls.
5) End of year Budget– This year’s budget will see impacts from COVID-19, The fire
system improvements, replacement of pole pieces on Generator 2, replacement
of the dividers on Unit 1 and 2, procurement of the dump truck, IRIS air gap
monitoring system all were not delayed from 2020 due mostly to COVID issues.
Most of these delays are because of the prohibition on travel (both in state and
from out of state) thus eliminating the ability of Bradley to have certain activities
and inspections completed. Most of the end of year invoices and billings were
completed in June.
Operations, Maintenance, and Inspections:
Bradley Lake Operator Report Page 2
1) June Unit availability –Unit 1 100%, Unit 2 95.9%. Capacity factor for March
for Unit 1 was 39.7% and for Unit 2 33%
.
2) July Unit availability –Unit 1 100%, Unit 2 99.65%. Capacity factor for April for
Unit 1 was 39.1% and for Unit 2 26.52%. Lower numbers reflected a northern
tie outage.
3) Job Focus - We are focusing on getting Battle Creek operational.
4) Bears – Bears continue to be a nuisance for both the Plant and Orion.
Lake level as of 07/17/20
Bradley O&D Report to the BPMC
Friday July 24, 2020
1. Committee Members:
a. Sarauer & Roberts (GVEA) - Chair
b. Thornton & Vogel (CEA) - Vice Chair
c. Patrick & Day (HEA)
d. Warner & Langford (AMLP)
e. Crowell & McKimson (MEA)
f. Carey & Warren (AEA)
g. Gillis (Seward)
2. SSQ line Proposed Transaction Report
a. Report evaluating the economic and reliability benefit of the proposed
transaction completed. Report reviewed, edited and approved by the O&D
Committee.
3. Bradley Lake Report:
a. Submitted by Bob Day and reviewed by the O&D Committee.
4. Water and Lake Level Report:
a. Submitted by Russ Thornton and reviewed by the O&D Committee
5. Battle Creek Update:
a. Submitted by Bryan Carey and reviewed by the O&D Committee
6. COVID-19 Update
a. O&D Meetings have gone back to Video Conference only due to the rise in
COVID cases in Alaska.
Bradley Lake
Budget to Actual Expense Report
07/01/2019 to 04/30/2020
Page 1 of 9
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Schedule A-1
Expenses for the period 07/01/19 to 04/30/20
FY18 FY19 FY20 FY20
ACTUALS ACTUALS BUDGET ACTUALS
Replace/Automate Fish Water Valve Actuators 361,430 364 - 2,931
Equipment storage shed (unheated bus barn) 67,539 - -
1 ton Flatbed with Plow 57,016 - -
Battle Creek Bridge Repair Refurbishment (2) - - 220,000
Mobil Crane 40 to 50 tons (used) 88,875 - -
Replace Michigan Loader 263,306 - -
Upgrade Crews Quarters and Residents Kitchen 1,850 - -
Replace 1988 Suburban Ambulance 59,430 5,350 -
1/2 ton Pick up truck 34,693 - -
Replace High Bay Lighting in Power Plant 19,920 - -
Turbine Nozzle Repair - - -
Tire Machine - 15,246 -
UPS Replacement 75,000 65,696
IRIS Air Gap Monitoring System (computer) 45,000 41,720
Replace Dump Truck and Sander 170,000
Rough Terrain Fork Lift (with Plow) 130,000 131,593
Pick up Truck 45,000 41,484
Total Non R&C Capital Purchases 954,059 20,960 685,000 283,425
CAPITAL PURCHASES NOT FUNDED BY R&C FUND
Page 2 of 9
ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2019 THROUGH 04/30/2020
FY 20 FY 19
FY20 Approved
Budget
BUDGET %
07/01/2019 -
04/30/2020 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY19 Approved
Budget FY19 Actual
Summary by expense type
Default - - - - - - - - -
Labor & Benefits 1,219,936 1,016,615 785,011 35,602 - 820,613 196,002 1,572,497 1,307,514
Travel 45,950 38,290 7,896 531 - 8,427 29,863 33,950 28,380
Training 49,300 41,083 9,827 - - 9,827 31,257 49,300 20,957
Contractual 869,842 724,868 317,123 11,454 198,749 527,326 197,542 1,033,216 633,895
Supplies & Materials 346,345 288,621 116,385 255 - 116,640 171,981 204,345 156,340
Other Costs 67,818 56,516 29,747 24,313 758 54,818 1,698 69,818 31,293
Equipment, Furniture and Machinery 176,000 146,667 56,110 - - 56,110 90,557 7,000 6,879
Maintenance Projects - - 313 - - 313 (313) - 44,926
Administrative Costs 1,192,464 993,720 17,310 - 991,637 1,008,947 (15,227) 1,233,537 1,210,676
Indirect Costs 1,383,388 1,152,823 1,019,674 - - 1,019,674 133,149 583,803 579,115
5,351,043 4,459,203 2,359,394 72,155 1,191,144 3,622,694 836,509 4,787,466 4,019,975
FERC 535 - Operation Supervision & Engineering
Operations Sup/Eng
Bradley Lake Operating
Labor & Benefits 107,453 89,544 71,908 - - 71,908 17,636 189,074 182,059
Travel 10,450 8,708 246 - - 246 8,462 10,450 13,462
Training 9,300 7,750 991 - - 991 6,759 9,300 4,305
Contractual 1,000 833 41 - - 41 792 1,000 257
Supplies & Materials 4,000 3,333 2,719 - - 2,719 614 4,000 2,688
Indirect Costs 155,698 129,748 103,323 - - 103,323 26,425 77,849 74,535
Bradley Lake Operating Total 287,901 239,916 179,229 - - 179,229 60,687 291,673 277,306
FERC 535 - Operation Supervision & Engineering Total 287,901 239,916 179,229 - - 179,229 60,687 291,673 277,306
FERC 537 - Hydraulic Expenses
Hydraulic Expenses
Bradley Lake Operating
Labor & Benefits 84,081 70,068 55,738 - - 55,738 14,330 88,714 71,766
Travel 10,000 8,333 - - - - 8,333 - -
Contractual 22,000 18,333 - - - - 18,333 2,000 11,524
Supplies & Materials 19,000 15,833 4,820 - - 4,820 11,013 2,000 2,636
Equipment, Furniture and Machinery 81,000 67,500 1,409 - - 1,409 66,091 - -
Indirect Costs 107,519 89,599 80,894 - - 80,894 8,705 41,515 42,543
Bradley Lake Operating Total 323,600 269,666 142,862 - - 142,862 126,804 134,229 128,470
FERC 537 - Hydraulic Expenses Total 323,600 269,666 142,862 - - 142,862 126,804 134,229 128,470
FERC 538 - Electric Expenses
Electric Expenses
Bradley Lake Operating
Labor & Benefits 208,745 173,954 173,724 - - 173,724 230 224,811 209,644
Travel 7,000 5,833 3,119 - - 3,119 2,714 7,000 4,890
Training 25,000 20,833 8,835 - - 8,835 11,998 25,000 12,406
Contractual 7,000 5,833 247 - - 247 5,586 2,000 -
Supplies & Materials 50,732 42,277 1,845 - - 1,845 40,432 9,732 4,503
Equipment, Furniture and Machinery 63,000 52,500 49,614 - - 49,614 2,886 - -
Indirect Costs 242,067 201,723 211,087 - - 211,087 (9,364) 102,222 110,544
Bradley Lake Operating Total 603,544 502,953 448,473 - - 448,473 54,480 370,765 341,989
FERC 538 - Electric Expenses Total 603,544 502,953 448,473 - - 448,473 54,480 370,765 341,989
FERC 539 - Misc. Hydraulic Power Generation Expenses
Misc Hydro Power Exp
Bradley Lake Operating
Labor & Benefits 104,936 87,447 55,423 - - 55,423 32,024 168,044 116,910
Training 15,000 12,500 - - - - 12,500 15,000 4,245
Contractual 287,525 239,604 154,490 - - 154,490 85,114 287,525 147,555
Supplies & Materials 17,900 14,917 21,609 - - 21,609 (6,692) 17,900 31,565
Indirect Costs 107,519 89,599 80,551 - - 80,551 9,048 41,515 42,396
Bradley Lake Operating Total 532,880 444,067 312,073 - - 312,073 131,994 529,984 342,672
BRADLEY CIRCUITS/RADIO TO BERNICE LK
Other Costs 35,695 29,746 26,772 - - 26,772 2,974 35,695 35,696
BRADLEY CIRCUITS/RADIO TO BERNICE LK Total 35,695 29,746 26,772 - - 26,772 2,974 35,695 35,696
BRADLEY CIRCUITS BERNICE LK TO ANCH
Other Costs 29,773 24,811 - 21,873 - 21,873 2,938 29,773 29,524
BRADLEY CIRCUITS BERNICE LK TO ANCH Total 29,773 24,811 - 21,873 - 21,873 2,938 29,773 29,524
FERC 539 - Misc. Hydraulic Power Generation Expenses Total 598,348 498,624 338,844 21,873 - 360,717 137,907 595,452 407,892
FERC 540 - Rents
FERC Land Use Fee
Bradley Lake Operating
Other Costs - - - - - - - - (35,289)
Bradley Lake Operating Total - - - - - - - - (35,289)
FERC 540 - Rents Total - - - - - - - - (35,289)
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ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2019 THROUGH 04/30/2020
FY 20 FY 19
FY20 Approved
Budget
BUDGET %
07/01/2019 -
04/30/2020 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY19 Approved
Budget FY19 Actual
FERC 541 - Maintenance Supervision & Engineering
Maint Supervision/Eng
Bradley Lake Operating
Labor & Benefits 114,456 95,380 68,049 - - 68,049 27,331 195,817 181,894
Indirect Costs 155,698 129,748 97,329 - - 97,329 32,419 77,849 74,373
Bradley Lake Operating Total 270,154 225,128 165,378 - - 165,378 59,750 273,666 256,267
FERC 541 - Maintenance Supervision & Engineering Total 270,154 225,128 165,378 - - 165,378 59,750 273,666 256,267
FERC 542 - Maintenance of Structures
Maintenance of Structures
Bradley Lake Operating
Labor & Benefits 76,499 63,749 51,063 - - 51,063 12,686 85,438 67,934
Contractual 91,000 75,833 3,237 - - 3,237 72,596 10,000 -
Supplies & Materials 88,713 73,928 29,834 - - 29,834 44,094 53,713 46,903
Equipment, Furniture and Machinery 32,000 26,667 4,983 - - 4,983 21,684 7,000 6,879
Indirect Costs 97,823 81,519 74,101 - - 74,101 7,418 37,066 37,809
Bradley Lake Operating Total 386,035 321,696 163,219 - - 163,219 158,477 193,217 159,525
BRADLEY UPGRADE CREWS QTRS/RESIDENCE KITCHEN
Contractual - - - - - - - 165,000 -
BRADLEY UPGRADE CREWS QTRS/RESIDENCE KITCHEN Total - - - - - - - 165,000 -
BRADLEY CIRCUITS/RADIO TO BERNICE LK
Other Costs - - 2,975 - - 2,975 (2,975) - -
BRADLEY CIRCUITS/RADIO TO BERNICE LK Total - - 2,975 - - 2,975 (2,975) - -
BRADLEY CIRCUITS BERNICE LK TO ANCH
Other Costs - - - 2,440 - 2,440 (2,440) - -
BRADLEY CIRCUITS BERNICE LK TO ANCH Total - - - 2,440 - 2,440 (2,440) - -
FERC 542 - Maintenance of Structures Total 386,035 321,696 166,194 2,440 - 168,634 153,062 358,217 159,525
FERC 543 - Maintenance of Reservoirs, Dams & Waterways
Maint Res, Dams, WWays
Bradley Lake Operating
Labor & Benefits 45,080 37,567 1,231 - - 1,231 36,336 45,552 4,722
Contractual 6,500 5,417 - - - - 5,417 6,500 7,600
Indirect Costs 56,322 46,935 1,532 - - 1,532 45,403 19,932 87
Bradley Lake Operating Total 107,902 89,919 2,762 - - 2,762 87,157 71,984 12,410
BRADLEY NUKA REPAIR
Contractual - - - - - - - 15,000 -
BRADLEY NUKA REPAIR Total - - - - - - - 15,000 -
BRADLEY POWER TUNNEL MAINT (Dam)
Contractual 15,000 12,500 - - - - 12,500 15,000 -
BRADLEY POWER TUNNEL MAINT (Dam) Total 15,000 12,500 - - - - 12,500 15,000 -
FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total 122,902 102,419 2,762 - - 2,762 99,657 101,984 12,410
FERC 544 - Maintenance of Electric Plant
Maintenance of Elec Plant
Bradley Lake Operating
Labor & Benefits 273,620 228,017 205,679 - - 205,679 22,338 342,265 285,367
Travel 4,500 3,750 - - - - 3,750 4,500 216
Contractual 49,000 40,833 14,295 - - 14,295 26,538 70,000 69,475
Supplies & Materials 70,000 58,333 26,495 - - 26,495 31,838 20,000 16,571
Maintenance Projects - - - - - - - - 44,926
Indirect Costs 368,424 307,020 296,194 - - 296,194 10,826 148,789 156,963
Bradley Lake Operating Total 765,544 637,953 542,664 - - 542,664 95,289 585,554 573,517
BRADLEY REPLACE LIGHTING IN POWER PLANT
Supplies & Materials - - - - - - - 30,000 -
BRADLEY REPLACE LIGHTING IN POWER PLANT Total - - - - - - - 30,000 -
FERC 544 - Maintenance of Electric Plant Total 765,544 637,953 542,664 - - 542,664 95,289 615,554 573,517
FERC 545 - Maintenance of Misc. Hydraulic Plant
Maint of Misc Hydr Plant
Bradley Lake Operating
Labor & Benefits 69,395 57,829 51,773 - - 51,773 6,056 85,438 70,964
Contractual 3,900 3,250 6,763 - - 6,763 (3,513) 3,900 -
Supplies & Materials 63,000 52,500 25,858 - - 25,858 26,642 35,000 33,168
Maintenance Projects - - 313 - - 313 (313) - -
Indirect Costs 92,318 76,932 74,663 - - 74,663 2,269 37,066 39,864
Bradley Lake Operating Total 228,613 190,511 159,370 - - 159,370 31,141 161,404 143,995
FERC 545 - Maintenance of Misc. Hydraulic Plant Total 228,613 190,511 159,370 - - 159,370 31,141 161,404 143,995
FERC 556 - System Control & Load Dispatching
System Cntl & Load Disp
Bradley Lake Operating
Labor & Benefits 21,140 17,617 28,674 - - 28,674 (11,057) 21,506 20,920
Contractual 53,000 44,167 56,914 - - 56,914 (12,747) 53,000 44,800
Supplies & Materials 6,000 5,000 3,204 - - 3,204 1,796 6,000 613
Bradley Lake Operating Total 80,140 66,784 88,793 - - 88,793 (22,009) 80,506 66,333
BRADLEY EMERSON ANTIVIRUS UPGRADE
Contractual - - - - - - - 40,000 41,740
BRADLEY EMERSON ANTIVIRUS UPGRADE Total - - - - - - - 40,000 41,740
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ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2019 THROUGH 04/30/2020
FY 20 FY 19
FY20 Approved
Budget
BUDGET %
07/01/2019 -
04/30/2020 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY19 Approved
Budget FY19 Actual
Snow Measurement
Bradley Lake Operating
Contractual 10,000 8,333 - - 10,000 10,000 (1,667) 12,000 10,000
Bradley Lake Operating Total 10,000 8,333 - - 10,000 10,000 (1,667) 12,000 10,000
Seismic Service
Bradley Lake Operating
Contractual 62,000 51,667 - - 46,312 46,312 5,355 62,000 61,569
Bradley Lake Operating Total 62,000 51,667 - - 46,312 46,312 5,355 62,000 61,569
Streamguaging Serv
Bradley Lake Operating
Contractual 209,917 174,931 - - 142,438 142,438 32,493 206,291 186,291
Bradley Lake Operating Total 209,917 174,931 - - 142,438 142,438 32,493 206,291 186,291
Permits
Bradley Lake Operating
Other Costs 350 292 - - 758 758 (466) 350 250
Bradley Lake Operating Total 350 292 - - 758 758 (466) 350 250
FERC 556 - System Control & Load Dispatching Total 362,407 302,007 88,793 - 199,507 288,300 13,707 401,147 366,183
FERC 562 - Station Expenses
Station Expenses
Bradley Lake Operating
Labor & Benefits 87,072 72,560 19,241 35,602 - 54,843 17,717 94,718 83,224
Travel 4,000 3,333 - 531 - 531 2,802 2,000 1,632
Contractual 2,000 1,667 32,791 11,454 - 44,244 (42,577) 32,000 35,207
Supplies & Materials 22,000 18,333 - 255 - 255 18,078 21,000 17,692
Other Costs 2,000 1,667 - - - - 1,667 4,000 1,112
Bradley Lake Operating Total 117,072 97,560 52,032 47,842 - 99,874 (2,314) 153,718 138,869
FERC 562 - Station Expenses Total 117,072 97,560 52,032 47,842 - 99,874 (2,314) 153,718 138,869
#N/A
Weather Monitoring Power Sup
Bradley Lake Operating
Bradley Lake Operating Total - - - - - - - - -
#N/A - - - - - - - - -
FERC 571 - Maintenance of Overhead Lines
Maint of OH Lines
Bradley Lake Operating
Labor & Benefits 27,459 22,883 2,507 - - 2,507 20,376 31,120 12,110
Travel 10,000 8,333 4,530 - - 4,530 3,803 10,000 8,180
Contractual 50,000 41,667 48,343 - - 48,343 (6,676) 50,000 17,875
Supplies & Materials 5,000 4,167 - - - - 4,167 5,000 -
Equipment, Furniture and Machinery - - 103 - - 103 (103) - -
Bradley Lake Operating Total 92,459 77,050 55,484 - - 55,484 21,566 96,120 38,165
FERC 571 - Maintenance of Overhead Lines Total 92,459 77,050 55,484 - - 55,484 21,566 96,120 38,165
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
Bradley Lake Operating
Administrative Costs 200,000 166,667 - - 166,667 166,667 0 200,000 200,000
Bradley Lake Operating Total 200,000 166,667 - - 166,667 166,667 0 200,000 200,000
Operating Committee Exp-Audit
Bradley Lake Operating
Administrative Costs 19,900 16,583 - - 19,900 19,900 (3,317) 16,500 19,900
Bradley Lake Operating Total 19,900 16,583 - - 19,900 19,900 (3,317) 16,500 19,900
Operating Committee Exp-Legal
Bradley Lake Operating
Administrative Costs 30,000 25,000 - - 175,227 175,227 (150,227) 25,000 140,453
Bradley Lake Operating Total 30,000 25,000 - - 175,227 175,227 (150,227) 25,000 140,453
Operat Committee Exp-Arbitrage
Bradley Lake Operating
Administrative Costs 3,000 2,500 - - - - 2,500 2,935 2,785
Bradley Lake Operating Total 3,000 2,500 - - - - 2,500 2,935 2,785
Trust & Account Fees
Bradley Lake Operating
Administrative Costs 11,918 9,932 - - 11,918 11,918 (1,986) 11,918 11,918
Bradley Lake Operating Total 11,918 9,932 - - 11,918 11,918 (1,986) 11,918 11,918
Misc Admin
Bradley Lake Operating
Administrative Costs 11,646 9,705 - - 12,000 12,000 (2,295) 10,350 11,646
Bradley Lake Operating Total 11,646 9,705 - - 12,000 12,000 (2,295) 10,350 11,646
FERC 920 & 930 - Administrative Expense Total 276,464 230,387 - - 385,712 385,712 (155,325) 266,703 386,702
FERC 924 & 925 - Insurance Premiums
Insurance Premiums
Bradley Lake Operating
Administrative Costs 631,000 525,833 17,310 - 529,760 547,070 (21,237) 656,834 617,640
Bradley Lake Operating Total 631,000 525,833 17,310 - 529,760 547,070 (21,237) 656,834 617,640
FERC 924 & 925 - Insurance Premiums Total 631,000 525,833 17,310 - 529,760 547,070 (21,237) 656,834 617,640
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ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2019 THROUGH 04/30/2020
FY 20 FY 19
FY20 Approved
Budget
BUDGET %
07/01/2019 -
04/30/2020 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY19 Approved
Budget FY19 Actual
FERC 928 - Regulatory Commission Expenses
FERC Admin Fees
Bradley Lake Operating
Administrative Costs 185,000 154,167 - - - - 154,167 185,000 101,775
Bradley Lake Operating Total 185,000 154,167 - - - - 154,167 185,000 101,775
FERC Related Prof Services
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES
Administrative Costs 100,000 83,333 - - 76,165 76,165 7,168 125,000 104,560
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 100,000 83,333 - - 76,165 76,165 7,168 125,000 104,560
FERC 928 - Regulatory Commission Expenses Total 285,000 237,500 - - 76,165 76,165 161,335 310,000 206,335
Total Bradley Lake Budget 5,351,043 4,459,203 2,359,394 72,155 1,191,144 3,622,694 836,509 4,787,466 4,019,975
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BRADLEY LAKE
R&C FUND DISBURSEMENTS AND REPAYMENTS
SCHEDULE D
Expenses for the Period 07/1/19 through 04/30/20
Actual Actual Actual Actual Budget
@06/30/19 TO REPAY @ 02/29/20 TO REPAY FY20
Description Expense @6/30/19 Expense @6/30/20
R&C FUND PROJECTS
Governor 0.00 4,052,070.14 0.00 4,052,070.14 0.00
Replace RFLS 0.00 251,092.69 0.00 251,092.69 0.00
Replace Runners 0.00 1,946,732.79 0.00 1,946,732.79 0.00
Replace cable from dam to power house 0.00 2,321,922.94 0.00 2,321,922.94 0.00
Replace power system stabilizer 0.00 619,205.10 0.00 619,205.10 0.00
Replace two RTUs 0.00 86,905.27 0.00 86,905.27 0.00
Culvert Repairs 0.00 675,966.79 0.00 675,966.79 0.00
Tower Repair for Jack Frost Heaves 0.00 887,596.62 0.00 887,596.62 0.00
Replace Plant and SCADA Controls 0.00 1,344,683.05 0.00 1,344,683.05 0.00
Vibration Monitoring System 0.00 490.00 0.00 490.00 0.00
Fire Alarm System Replacement 0.00 0.00 21,560.94 21,560.94 150,000.00
Battle Creek Diversion 0.00 1,170,000.00 0.00 1,170,000.00 0.00
Bradley Replace Electro-Mechanical Relays 0.00 1,277,197.06 0.00 1,277,197.06 0.00
Fishwater Screen Debris Removal 0.00 312,236.43 0.00 312,236.43 0.00
Turbine Nozzel Repair 0.00 1,428,861.07 0.00 1,428,861.07 0.00
Spillway Raise 0.00 0.00 0.00 0.00 0.00
SVC replacement Daves Creek | Soldotna 0.00 8,517,991.11 0.00 8,517,991.11 0.00
Equipment Storage Shed 510,550.13 510,550.13 0.00 510,550.13 0.00
Emerson Operating System Upgrade 622,665.00 622,665.00 0.00 622,665.00 0.00
Generator #2 Replacement 582,341.67 582,341.67 188,390.04 770,731.71 0.00
1,715,556.80 26,608,507.86 209,950.98 26,818,458.84 150,000.00
Current Year R&C Repayment (2,746,068.00) (1,767,830.00)
Adjust to balance to $5million 0.00 0.00
Interest in Fund Applied to Repayment (117,149.21) (175,199.72)
Net Transfer from Revenue Fund (2,863,217.21) (1,943,029.72)
Cumulative Prior Years R&C Repayments (20,465,255.55) (23,240,089.01)
Due Back to Utilities 88,383.75 (284,746.99)
Adjust Due to R&C Actual 0.00 0.00
(20,376,871.80) (23,524,836.00)
NET DUE TO R&C FUND 3,368,418.85 1,350,593.13
R&C FUND CASH FLOW PROJECTION
Beginning Investment Balance 1,013,291.03 2,435,913.25
Disbursements-current year -Accrual (999,608.45) 0.00
Disbursements-prior year accrued 0.00 (721,894.25)
Utilities' R&C Refund (440,986.54) (88,383.75)
Net other cash inflow(outflow) 0.00 0.00
Current year interest earnings 117,149.21 175,199.72
Participants Contributions to R&C Fund 2,746,068.00 1,767,830.00
Ending Investment Balance 2,435,913.25 3,568,664.97
Accrued Due to Utilities (88,383.75) 284,746.99
R&C payable back to the revenue fund 0.00 0.00
Accrued R&C vendor Payable at Year End (715,948.35) (204,005.08)
PROJECTED NET DUE + ENDING INVESTMENT BALANCE 5,000,000.00 5,000,000.00
REPAYMENT AMOUNT
$5,644,193.08 x 25% all 4 years 4th 1,411,048.27 4th 1,411,048.27
$1,341,405.96 x 25% all 4 years 3rd 335,351.49 3rd 335,351.49
$1,625,945.94 x 25% all 4 years 2nd 428,889.20 2nd 428,889.20
$209,950.98 x 25% all 4 years 1st 1st 52,487.75
2,774,833.46 2,227,776.71
Page 7 of 9
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Battle Creek Capital Purchases
Schedule E
Expenses for the period 07/01/19 to 04/30/20
FY18 FY19 FY20 FY20
Actuals Actuals Budget Actual
Used 2007 Chevrolet Silverado 8,800 -
Used 2006 Chevrolet Silverado 7,700 -
Battle Creek-Interface Consulting - - 775,000 782,622
Total capital revenue fund purchases 16,500 - 775,000 782,622
Battle Creek Capital Purchases
Page 8 of 9
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Battle Creek Administrative Costs
Schedule F
Expenses for the period 07/01/19 through 04/30/20
Run Date: 07/15/20
Entry No. Range: 1..2770369
FY20
Aprroved
Budget
Budget %
07/01/19 -
04/30/20 HEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY19
Approved
Budget Total Actual
Summary By Expense Type
Administrative Costs $ 395,424.00 $ 329,520.00 $ 241,652.68 $ 206,381.90 $ 448,034.58 (118,514.58)$ $ 453,988 $ 527,723.00
395,424.00$ 329,520.00$ 241,652.68$ 206,381.90$ 448,034.58$ (118,514.58)$ 453,988$ 527,723.00$
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
Administrative Costs 117,274.00$ 97,728.33$ 10,780$ 87,512$ 98,292$ (563.19)$ 176,193$ 175,421$
AEA Bradley Fixed Admin Fees Total 117,274.00$ 97,728.33$ 10,780$ 87,512$ 98,292$ (563.19)$ 176,193$ 175,421$
Operating Committee Exp-Legal
Administrative Costs 15,000.00$ 12,500.00$ -$ 114,792$ 114,792$ (102,292.13)$ 15,000$ 34,795$
Operating Committee Exp-Legal Total 15,000.00$ 12,500.00$ -$ 114,792$ 114,792$ (102,292.13)$ 15,000$ 34,795$
Operat Committee Exp-Arbitrage
Administrative Costs 2,000.00$ 1,666.67$ -$ -$ -$ 1,666.67$ 2,000$ 1,690$
Operat Committee Exp-Arbitrage Total 2,000.00$ 1,666.67$ -$ -$ -$ 1,666.67$ 2,000$ 1,690$
Trust & Account Fees
Administrative Costs 4,800.00$ 4,000.00$ -$ 4,000$ 4,000$ -$ 6,550$ 4,083$
Trust & Account Fees Total 4,800.00$ 4,000.00$ -$ 4,000$ 4,000$ -$ 6,550$ 4,083$
Misc Admin
Administrative Costs 100.00$ 83.33$ -$ 78$ 78$ 5.55$ -$ 83$
Misc Admin Total 100.00$ 83.33$ -$ 78$ 78$ 5.55$ -$ 83$
Professional consultants
Administrative Costs 256,250.00$ 213,541.67$ 230,873$ -$ 230,873$ (17,331.48)$ 254,245$ 311,652$
Professional consultants Total 256,250.00$ 213,541.67$ 230,873$ -$ 230,873$ (17,331.48)$ 254,245$ 311,652$
FERC 920 & 930 - Administrative Expense Total 395,424.00$ 329,520.00$ 241,653$ 206,382$ 448,035$ (118,514.58)$ 453,988$ 527,723$
FY 20 FY 19
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