[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-315630-105":59,"doc-detail-315630-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","valley-clean-energy-alliance-financial-update-november-30-2023-unaudited","Valley Clean Energy Alliance - Financial Update - November 30, 2023 (Unaudited)","","Financial update for Valley Clean Energy Alliance covering the period November 1 to November 30, 2023, including unaudited financial statements and comparative year-to-date information. The board materials present the statement of net position, revenues, expenditures and changes in net position, and statement of cash flows, alongside Actual vs. Budget variances through November 30, 2023. Variance analysis highlights drivers such as retail load fluctuations, winter and spring weather impacts, purchased power market movements, and service transitions, with noted favorable and unfavorable differences by line item.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/valley-clean-energy-alliance-financial-update-november-30-2023-unaudited/315630/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/valley-clean-energy-alliance-financial-update-november-30-2023-unaudited/315630.png","ImageObject",300,407,{"name":92,"@type":93},"Ophelia","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-28","2026-09-20",true,{"@type":102,"interactionType":103,"userInteractionCount":52},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What reporting period and status are covered by the financial update?","Question",{"text":112,"@type":113},"The materials cover November 1, 2023 to November 30, 2023 and provide unaudited financial statements with comparative year-to-date information, plus Actual vs. Budget variances ending November 30, 2023.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Which core financial statements are included in the package?",{"text":117,"@type":113},"The staff report includes the Statement of Net Position, the Statement of Revenues, Expenditures and Changes in Net Position, and the Statement of Cash Flows.",{"name":119,"@type":110,"acceptedAnswer":120},"How is the Actual vs. Budget analysis presented?",{"text":121,"@type":113},"It lists financial statement line items with variances greater than $50,000 and 5%, showing amounts and percentage differences and describing key drivers for both unfavorable and favorable variances.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},315630,1790372589,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":52,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":39,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":46,"preview_page_count":4},7971461741311,"https://ap-avatar.wpscdn.com/avatar/74000253aff267980c6?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779345379180704826","VALLEY CLEAN ENERGY ALLIANCE  \nStaff Report – Item 7  \n\n| TO:\u003Cbr>FROM:\u003Cbr>SUBJECT:\u003Cbr>DATE: | Board of Directors\u003Cbr>Mitch Sears, Executive Director\u003Cbr>Edward Burnham, Finance and Operations Director\u003Cbr>Financial Update – November 30, 2023 (unaudited) financial statements (with comparative year to date information) and Actual vs. Budget year to date ending November 30, 2023\u003Cbr>January 11, 2024 |\n| --- | --- |\n\nRECOMMENDATION:  \nAccept the following Financial Statements (unaudited) for the period of November 1, 2023 to November 30, 2023 (with comparative year to date information) and Actual vs. Budget year to date ending November 30, 2023.  \nBACKGROUND & DISCUSSION:  \nThe attached financial statements are prepared in a form to satisfy the debt covenants with River City Bank pursuant to the Line of Credit and are required to be prepared monthly.  \nThe Financial Statements include the following reports:  \n• Statement of Net Position  \n• Statement of Revenues, Expenditures and Changes in Net Position  \n• Statement of Cash Flows  \nIn addition, Staff is reporting the Actual vs. Budget variances year to date ending November 30, 2023.  \nFinancial Statements for the period November 1, 2023 – November 30, 2023  \nIn the Statement of Net Position, VCE, as of November 30, 2023, has a total of $24,744,373 in its checking, money market and lockbox accounts, $1,100,000 restricted assets for the Debt Service Reserve account,$1,800,000 restricted assets related to supplier deposits, and $1,0179,761 restricted assets for the Power Purchases Reserve account. VCE has incurred obligations from Member agencies and owes as of November 30, 2023 a total of $9,987 . VCE member obligations are incurred monthly due to staffing, accounting, and legal services.  \nThe term loan with River City Bank includes a current portion of $226,276. On November 30, 2022, VCE’s net position was $33,312,080.  \nIn the Statement of Revenues, Expenditures, and Changes in Net Position, VCE recorded $ 3,815,088 of revenue (net of allowance for doubtful accounts), of which $6,349,052 was billed in November, and $2,734,614 represent estimated unbilled revenue. The cost of electricity for the November revenue totaled $2,318,449. For November, VCE’s gross margin was approximately 39% and the net income totaled $1,164,259. The year-to-date change in net position was 17,901,546.  \nIn the Statement of Cash Flows, VCE cash flows from operations were $2,981,756 due to November cash receipts of revenues being more than the monthly cash operating expenses.  \nActual vs. Budget Variances for the year to date ending November 30, 2023 Below are the financial statement line items with variances >$50,000 and 5%  \n• Electric Revenue –($10,322,318) and -11% – Unfavorable variance due to retail load variance lower than forecasted due to mild winter and spring.  \n• Purchased Power – $1,671,092 and-1% – unfavorable variance due to gas prices driving short-term power market increases during winter offset by lower load than forecasted.  \n• CC Power –($57,264) and 247% unfavorable variance related to PPA contract participation.  \n• Wholesale Energy Services –($349,772) and-39% unfavorable variance related to the transition of services to TEA starting in Q123 budgeted for Q223 .  \n• Credit Support Services (SMUD)– $101,982 and 40% favorable variance related to lower retail load than forecasted due to mild winter and summer.  \n• Operational Support Services (SMUD)–($96,959) and-165% unfavorable variance related to Percentage of Income Payment Plan (PIPP) program implementation, bill presentment, and base green rate implementation.  \n• Legal General Counsel – $123,038 and 82% favorable variance related to lower operational support requirements than budgeted.  \n• Strategic Plan Implementation – $106,721 or 81% favorable variance due to timing difference.  \n• Contingency –($220,00) and (100%)– favorable variance to budget is due to not having a need yet to utilize the contingency funds set aside in the budg","cbCaiqZ6UVcjWlxL","https://ap.wps.com/l/cbCaiqZ6UVcjWlxL","pdf",654920,"English","# Financial Update\n## Recommendation and Background & Discussion\n## Financial Statements Included\n## Statement of Net Position (November 30, 2023)\n## Statement of Revenues, Expenditures and Changes in Net Position\n## Statement of Cash Flows\n## Actual vs. Budget Variances (Year to Date ending November 30, 2023)","[{\"question\":\"What reporting period and status are covered by the financial update?\",\"answer\":\"The materials cover November 1, 2023 to November 30, 2023 and provide unaudited financial statements with comparative year-to-date information, plus Actual vs. Budget variances ending November 30, 2023.\"},{\"question\":\"Which core financial statements are included in the package?\",\"answer\":\"The staff report includes the Statement of Net Position, the Statement of Revenues, Expenditures and Changes in Net Position, and the Statement of Cash Flows.\"},{\"question\":\"How is the Actual vs. Budget analysis presented?\",\"answer\":\"It lists financial statement line items with variances greater than $50,000 and 5%, showing amounts and percentage differences and describing key drivers for both unfavorable and favorable variances.\"}]","Valley Clean Energy Alliance - Financial Update - November 30, 2023 (Unaudited) | PDF",1789905552]