REPORT TO COUNCIL
SUBJECT
Title
Action on Bills and Claims Report (CC, SCSA, HA) for the period June 10, 2023 - July 14, 2023
Report
COUNCIL PILLAR
Enhance Community Engagement and Transparency
BACKGROUND
Disbursements made by the City are based on invoices submitted for payment. Prior to payment, staff reviews all disbursement documents to ensure they are reflective of the goods or services provided. Invoices are usually paid within 30 days of receipt of an accurate invoice. As the final step, the City Auditor, or designee, verifies all documents before payment is issued. Payments are issued through accounts payable checks and wire transfers. It's important to note that items that pertain to the Stadium Authority are billed to the Stadium Manager (ManCo) to pay on behalf of the Stadium Authority for Non-NFL events and the 49ers for NFL events.
The Bills and Claims Report represents the cash disbursements required for operations of the City during the period. The report reflects the payment date, invoice number, description of the payment, funding source, and payment amount for all invoices. The budget control is set by the City Council through the budget adoption process. The attached report is sorted by SVP expenses first, followed by the rest of the City funds.
DISCUSSION
Significant expenditures in this period include:
* Payment to Northern California Power Agency in the amount of $19,292,805 for June all resources bill.
* Payment to Bank of New York Mellon in the amount of $16,196,919 for debt service payments for Electric Revenue Bond.
* Payment to Tri-Dam Authority/Project in the amount $10,733,248 for May and June 2023 Hydroelectric purchase.
* Payment to MSR Public Power Agency/Energy Authority in the amount of $3,543,221 for May and June 2023 energy purchase.
* Payment to Friant Power Authority in the amount of $2,245,565 for May and June 2023 Hydroelectric purchase.
* Payment to Santa Valley Water District in the amount for $1,915,198 for Ap...
Click here for full text