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RTF Policy Advisory Committee Gillian Charles 1/24/13

Update on RTF Financials. RTF Policy Advisory Committee Gillian Charles 1/24/13. Where We Stand. RTF PAC recommended $1.5M budget for each year 2012 through 2014

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RTF Policy Advisory Committee Gillian Charles 1/24/13

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  1. Update on RTF Financials RTF Policy Advisory Committee Gillian Charles 1/24/13

  2. Where We Stand • RTF PAC recommended $1.5M budget for each year 2012 through 2014 • RTF PAC recommended funding shares follow the allocation method developed for NEEA funding, w/ an adjustment for NorthWestern Energy • All funders signed a letter of agreement for their share of the budget for 2012 through 2014

  3. Council’s Carryover Strategy • In November 2011, the Council developed a new reconciliation and carryover strategy for RTF funding • Allow for funds from the previous year that were notobligated in contracts to be credited to funders towards the next year’s contribution • Allow for funds that were obligated but not spent to be reallocated towards the following year’s contributions

  4. Reminder: 2011/2012 2011 Budget: $1,373,600 Obligated in Contracts (by 12/31/11): $1,137,747.56 Spent by 12/31/11: $680,558.04 Obligated but not spent by 12/31/11:$ 457,189.52 Unobligated: $235,852.44 (Reallocated and applied as a credit toward funder’s 2012 allocations)

  5. 2012 Work Plan & Budget 2012 Budget: $1,473,000 Obligated in Contracts (by 12/31/12): $1,473,000.00 Spent by 12/31/12:$1,290,060.71 Obligated but not spent by 12/31/12:$ 182,939.29 Unobligated: $0 (no unobligated credit to 2013) The remaining $182,939.29 is obligated in contracts that have a period of performance through (no later than) March 2013

  6. 2013 Work Plan & Budget 2013 Budget: $1,473,000* * Budget is $1,500,000, but NorthWestern’s contribution is fixed at 50% of its share

  7. 2013 Funding Proposal – Part A 2012 Credit: Entire budget is obligated in contracts, so there is no unobligated amount to be credited to 2013. Because RTF staff won’t know what will be leftover from the 2012 “obligated but not spent” budget until end of March*, credit (if any) will be applied to 2014. * Will provide final budget 2012 update to funders in April via memo

  8. 2013 Funding Proposal – Part B • 2011 Credit: Apply remaining credit of the obligated 2011 funds that were not spent in 2012*. Obligated by 12/31/11: $457,189.52 Spent (in 2012): $378,482.14 Credit for 2013: $ 78,707.38 * All 2011 contracts ended by September 2012.

  9. 2013 Funding 2013 Budget $1,473,000.00 (less 2011 carryover) $ 78,707.38 2013 Funds to be collected: $1,394,292.62 April 2013 – Staff will send memo detailing final 2012 financials. Any unspent funds will be applied as a credit towards 2014 allocations.

  10. 2013 Funding Allocations * No advance credit applied to BPA because BPA pays its allocation monthly as work is invoiced (i.e. real-time)

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