M-S-R Public Power Agencymsrpower.org/Portals/0/Public Documents/M-S-R Public... · 2014. 7. 17. · Iberdrola Renewables BigHorn2 May-14 $ 1,390,749.25 U.S. Bank Debt Service Series

M-S-R Public Power Agency

MEETING OF THE COMMISSION

Wednesday, July 23, 2014, 12:00 PM Navigant Consulting, Inc.

35 Iron Point Circle, Suite 225 Folsom, CA 95630

AGENDA

Distribution:

Commissioners & Alternate Commissioners Others Modesto:

Steve Gross

Greg Salyer Alan Hockenson James McFall (Alt) Martin Hopper1

Toxie Buriss

Ed Oborn Cindy Worley Ana Vigil Scott Van Vuren

Santa Clara:

Joyce Kinnear

Pat Kolstad Pete Scanlon John Roukema1 (Alt) Margie Walker Redding

Barry Tippin1 Rick Bosetti (Alt)

RinHelzerman1

1 Please post agenda.

M-S-R Public Power Agency

MEETING OF THE COMMISSION

Wednesday, July 23, 2014, 12:00 Noon Navigant Consulting, Inc.

35 Iron Point Circle, Suite 225 Folsom, California

AGENDA Any member of the public who desires to address the Commission on any item considered by the Commission at this meeting before or during the Commission’s consideration of that item shall so advise the Chair and shall thereupon be given an opportunity to do so.

1. Call to Order

2. Roll Call

3. Approve meeting minutes of June 19 and June 25, 2014 (attached)

4. Report of Summary of invoices paid totaling $12,342,515.25 (summary attached)

5. Finance (Scott Van Vuren)

a. June 2014 Treasurer’s Report (attached)

6. Projects and Activities (Alan Hockenson)

a. San Juan Project Status Report (attached)

b. Southwest Transmission Projects Status Report (attached)

c. Pacific Northwest Projects Status Report (attached)

7. July 2014 General Manager’s Report (attached)

8. July 2014 Outside Services Budget versus Actual Report (attached, Martin Hopper)

9. Closed Session:

a. Existing Litigation: Government Code §54956.9 (d)(1) – 5 Cases (10th US Circuit Court of Appeals 11-9557 et al, EL11-44 – BPA, OS-14-E-BPA, EF13-7-000 et al, and BP-14-E-BPA)

b. Conference with Real Property Negotiator Pursuant to Government Code Section 54956.8, Property: Transmission facilities and entitlement connecting the Westwing Substation, 11400 W Hatfield Road, Peoria, Arizona, to the midpoint of the Victorville-Lugo transmission line. Negotiating Party (ies): Duke-American Transmission Company, LLC. Agency Negotiator: Martin R. Hopper and/or

M-S-R Public Power Agency Commission Agenda Page 2 July 23, 2014

Steven C. Gross. Under Negotiation: Purchase/Sale/Exchange/Lease of Real Property (provisions, price and terms of payment)

10. Public Comment

11. Confirm date and time of next meeting

12. Adjourn

ALTERNATE FORMATS OF THIS AGENDA WILL BE MADE AVAILABLE UPON REQUEST TO QUALIFIED INDIVIDUALS WITH DISABILITIES.

Document Number: 325474 Document Name: MSR PPA Agenda 2014

M-S-R PUBLIC POWER AGENCY MINUTES

MEETING OF THE COMMISSION JUNE 25, 2014

The Commission of the M-S-R Public Power Agency (M-S-R PPA) met June 25, 2014, at

the offices of Navigant Consulting, Inc. (NCI), 35 Iron Point Circle, Suite 225, Folsom,

CA, 95630. Present from Modesto Irrigation District (MID) were James McFall, and

Scott van Vuren (by telephone); present from Santa Clara were Pat Kolstad, John

Roukema, and Joyce Kinnear; and present from Redding was Barry Tippin. Also present

were Consultant Alan Hockenson; General Counsel Steve Gross; and General Manager

Martin R. Hopper.

Chair Tippin called the meeting to order at 12:12 P.M. A quorum was attained with the

voting representatives being Mr. McFall, Mr. Kolstad, and Mr. Tippin.

The Commission then reviewed the minutes of its May 21, 2014, meeting. It was moved

by Commissioner Kolstad and seconded by Alternate Commissioner McFall to approve

the minutes as corrected. The motion carried unanimously.

The Commission then reviewed the invoices listed under Item No. 4 on the Agenda that

have previously been paid pursuant to pre-existing delegations of authority.

Mr. van Vuren then reviewed the Treasurer’s Report and noted the Agency has $75.6

million cash on hand and that all investments are in compliance with the Agency’s

Investment Policy Guidelines. He noted our cash balances are at a high level due to the

build-up of funds to make semi-annual debt-service payments in July. He also informed

the Commission that the average maturity of the Agency’s investments has been reduced

from being more than 600-days down to less than 300-days which will better situate the

Agency to react to eventual improvements in interest rates.

DRAFT Minutes M-S-R Public Power Agency Meeting of June 25, 2014 Page 2 of 3

Mr. Hockenson then briefly addressed the Commission regarding the San Juan Project,

Southwest Transmission Project, and Big Horn Project Status Reports and entertained

questions thereon. He noted the much improved performance of the projects in May.

Mr. Hopper briefly addressed the Commission regarding his General Manager Report and

entertained questions thereon. He noted the disappointing results of the recent arbitration

with San Juan Coal Company and the pending fiscal impacts on the Agency.

Mr. Hopper then addressed the Commission regarding the June 2014 Outside Services

Budget versus Actual Report. After a brief discussion with the Commissioners, a

consensus was achieved that any recommended adjustments to Budget Line Items to be

made in the upcoming mid-year budget review will be handled administratively.

Mr. Hopper then addressed the Commission regarding the June 2014 WREGIS REC

Transfers Status Report and noted that all recent RECs have been transferred in a timely

manner. This report will continue to be provided to the Commission in even-numbered

months pursuant to its prior request.

Mr. Hopper than addressed the Commission regarding the review of Southwest

Transmission Project options being performed by Flynn RCI and informed the

Commission that the work remains on schedule and that the intial draft Task 1 report is

currently being reviewed by the Technical Committee.

The Commission then retired into Closed Session pursuant to Government Code Section

54956.9(d)(1) – Conference with Legal Counsel – Existing Litigation (Existing

Litigation; Government Code §54956.9(d)(1) – 5 Cases (10th US Circuit Court of

Appeals 11-9557 et al, EL11-44 - BPA, OS-14-E-BPA, EF13-7-000 et al, and BP-14-E-

BPA) and pursuant to Government Code Section 54956.8 – Conference with Real

Property Negotiator, Property: Transmission facilities and entitlement connecting the

DRAFT Minutes M-S-R Public Power Agency Meeting of June 25, 2014 Page 3 of 3

Westwing Substation, 11400 W Hatfield Road, Peoria, Arizona, to the midpoint of the

Victorville-Lugo transmission line, Negotiating Party(ies): Duke-American Transmission

Company, LLC. et al, Agency Negotiator: Martin R. Hopper and/or Steven C. Gross,

Under Negotiation: Purchase/Sale/Exchange/Lease of Real Property (provisions, price

and terms of payment) at 12:28 P.M. Upon the conclusion of the Closed Session at 2:23

P.M., the Chair reported for the record, pursuant to the Government Code, that a motion

was unanimously adopted to direct the General Manager as M-S-R PPA’s San Juan

Coordination Committee representative to vote affirmatively on the proposed Resolution

of the San Juan Generating Station Coordination Committee Regarding San Juan Project

Restructuring in substantially the form presented today.

The Chair then called for Public Comment. There being none, the Chair announced that

next regular meeting of the Commission will be held Wednesday, July 23, 2014, at 12:00

Noon, at Navigant’s offices in Folsom, CA. The meeting was then adjourned by the Chair

at 2:25 P.M.

Martin R. Hopper Assistant Secretary Macintosh HD:Users:martinhopper:My Laptop Documents:M-S-R Public Power Agency:Administrative:Commission:Minutes:2014 Minutes:MSR PPA Minutes 0514.doc

M-S-R PUBLIC POWER AGENCY MINUTES

SPECIAL MEETING OF THE COMMISSION JUNE 19, 2014

The Commission of the M-S-R Public Power Agency (M-S-R PPA) met June 19, 2014, at

for a special telephonic meeting. Telephonic meeting locations were: City of Santa Clara

– Electric Department, 1500 Warburton Avenue, Santa Clara, CA 95050; and City of

Redding – Electric Utility, 777 Cypress Street, Redding, CA 96001. Present from

Modesto Irrigation District (MID) was James McFall; present from Santa Clara was

Joyce Kinnear; present from Redding were Barry Tippin, Dan Beans, and Steven Handy.

Also present were General Counsel Steven C. Gross; General Manager Martin R.

Hopper; and Consultant Alan Hockenson.

Acting Chair Hopper called the meeting to order at 3:00 P.M. A quorum was attained

with the voting representatives being Mr. McFall, Ms. Kinnear, and Mr. Tippin. It was

then announced by Mr. Hopper that this meeting was been conducted concurrently with a

special telephonic meeting of the M-S-R PPA Technical Committee.

The Commission then retired into Closed Session pursuant to subsection (b) of

Government Code Section 54956.9(a), the M-S-R PPA Commission retired to closed

session at 3:02 p.m. to discuss One case of Existing Litigation. (10th US Circuit Court of

Appeals 11-9557 et al). At 3:02 p.m. the M-S-R PPA Commission conducted a joint

closed session with the M-S-R PPA Technical Committee that was also in closed session

conference with legal counsel. These meetings ran concurrently until they both were

adjourned.

Upon returning to open session at 3:44 p.m., Mr. Hopper reported that there were no

reportable announcements for the M-S-R PPA Commission.

Mr. Hopper then called for Public Comment and there being none, he announced the next

regular meeting date of the M-S-R PPA Commission is scheduled for noon, June 25,

DRAFT Minutes M-S-R Public Power Agency Special Meeting of June 19, 2014 Page 2 of 2

2014 to be held at Navigant offices in Folsom, CA. The meeting was then adjourned by

Mr. Hopper at 3:45 P.M.

Martin R. Hopper

Assistant Secretary Macintosh HD:Users:martinhopper:My Laptop Documents:M-S-R Public Power Agency:Administrative:Commission:Minutes:2014 Minutes:MSR PPA Minutes 0614 Special.doc

Payee Description Period Covered Amount Martin Hopper Energy General Manager Services May-14 $ 24,672.94 Salt River Project Capital Improvemnts Betterment Invoice Apr-14 $ 220.68

Salt River Project Mead-Phoenix O&M Apr-Jun-14 $ 97,892.11 Cardoza-James Case Binding MSR Series 2013P Jun-14 $ 680.96 Duncan Weinberg Legal Services Apr-14 $ 43,992.00 PNM Weekly Request for Funds Jun-14 $ 4,000.00 SOCALED Firm Transmission Jun-14 $ 386,120.00 LADWP Mead-Adelanto O&M Apr-14 $ 22,800.29 Politico Legislative Services May-14 $ 2,000.00 Baker Tilly Auditor Services May-14 $ 12,738.00 Porter Simon Legal Services May-14 $ 7,746.00 Big Horn Wind Project Firm energy May-14 $ 2,769,336.58 Iberdrola Renewables Big Horn Shaping May-14 $ 712,608.00 KBT Consulting Services Apr-14 $ 30,070.00 LADWP Transmission service Adelanto to May-14 $ 61,595.00 PNM Est. Coal May-14 $ 2,550,245.55 PNM Weekly Request for Funds Jun-14 $ 230,927.00 Ross D. Jacobs Yavapai County Property Taxes Jun-14 $ 1,638.17 WREGIS Transfer Volume Fee Jun-14 $ 231.06 PNM Weekly Request for Funds Jun-14 $ 245,000.00 U.S. Bank Swap Payment - Series 1998F&G Jun-14 $ 299,921.83 U.S. Bank Debt Service Series 2008M&N Jun-14 $ 35,417.86 Montgomery & Andrews Professional Services May-14 $ 2,403.67 MID Accounting & Coordination Services May-14 $ 63,396.99 USDOE Mead-Phoenix Firm Energy Losses May-14 $ 38,044.61 Iberdrola Renewables BigHorn2 May-14 $ 1,390,749.25 U.S. Bank Debt Service Series DKLOPQ Jun-14 $ 2,305,025.39 Law Offices of Susie Berlin Legal Services May-14 $ 1,788.55

M-S-R Public Power AgencySummary of Invoices Paid

Payee Description Period Covered Amount

M-S-R Public Power AgencySummary of Invoices Paid

U.S. Bank Big Horn Shaping May-14 $ 712,608.00 Navigant Professional Services May-14 $ 871.07 PNM Weekly Request for Funds Jun-14 $ 261,927.00 Martin Hopper Energy General Manager Services Jul-14 $ 25,846.69

To Commission 7/23/14 $ 12,342,515.25

Treasurer’s Report JUNE 2014

M-S-R Public Power Agency Treasurer’s Report

Index

i

Treasurer’s Report for the Month of June 2014

Investment Activity, All Funds

General Fund Investment Portfolio Guideline Compliance

Investment Portfolio Pie Chart

General Fund Portfolio Average Maturity Report

MSR / LAIF / US Treasury 2-Year

Quarterly Report

General Fund:

Portfolio Summary

Portfolio Details – Investments

Portfolio Details – Cash

Investment Status Report – Investments

Investment Status Report – Cash

Investment Activity by Type

Activity Report – LAIF

2nd Quarter Report

Trust Funds:

Portfolio Summary

Portfolio Details – Investments

Portfolio Details – Cash

Investment Status Report – Investments

Investment Status Report – Cash

Investment Activity by Type

Received Interest

Realized Gains and Losses

Maturity Report

PortfolioBeginning

Balance (Cost)Purchases or

DepositsSales/Maturities or Withdrawals

Ending Balance (Cost) Market Value*

MSR $28,285,832 $5,906,764 $5,550,000 $28,642,597 $28,617,320

MSR Trusts $47,326,619 $35,561,853 $33,252,935 $49,635,537 $49,665,612

$75,612,452 $41,468,617 $38,802,935 $78,278,134 $78,282,932

Standard Actual Cost (Book) Market Value*

Corp Medium Term Notes 30% 18.5% $5,156,237 $5,134,700

Federal Agency Issues No Limit 7.2% $1,998,000 $1,994,260

Managed Pool Accounts (LAIF) 50M 74.3% $20,659,079 $20,659,079

Treasury Securities No Limit 0.0% $0 $0

Municipal Bonds No Limit 0.0% $0 $0

100.0% $27,813,315 $27,788,039

Demand Account Balance No Limit $829,281 $829,281

Total $28,642,597 $28,617,320

* Source of Market Value information is Union Bank and Bloomberg Financial Systems

Investment Activity, All FundsJune 2014

General Fund Investment Portfolio Guideline ComplianceJune 2014

DOCS_n325342_v8_MSR_Treasurers_Report_Spreadsheet_2013-2014.xls

M‐S‐R Public Power Agency

Investment Portfolio June 2014

Corp Medium Term Notes

18.5%

Federal Agency Issues

7.2%

Managed Pool Accounts

(LAIF)

74.3%

Jun‐13

Jul‐13

Aug‐13

Sep‐13

Oct‐13

Nov‐13

Dec‐13

Jan‐14

Feb‐14

Mar‐14

Apr‐14

May‐14

Jun‐14

0

100

200

300

400

500

600

Days

General Fund Portfolio

Average Maturity Report

Weighted Average Maturity


MSR / LAIF / US Treasury 2‐Year

June 2014

0.5340.62

0

0.5

1

1.5

2

2.5

3

Jun‐

13

Jul‐1

3

Aug‐

13

Sep‐

13

Oct‐1

3

Nov‐

13

Dec‐

13

Jan‐

14

Feb‐

14

Mar

‐14

Apr‐1

4

May

‐14

Jun‐

14

Earnings Rate

MSR LAIF Treas Cons Matr 2Yr MSR Avg


0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

3Q 2013 4Q 2013 1Q 2014 2Q 2014

M‐S‐R Public Power Agency

Investment Portfolio Quarterly Comparison

Second Quarter 2014

Medium Term Notes

LAIF

Government Agency

M -S-R PUBLIC POWER AGENCY SAN JUAN PROJECT

STATUS REPORT JULY 2014

SAN JUAN UNIT 4 OPERATIONS May 2014 Unit Net Generation (MWh) 297,315 Net Capacity Factor (%) 73.5 San Juan Generating Station (San Juan) Unit 4 experienced two brief forced outages on May 4-5, 2014 totaling 28 hours. The cause for both outages was the same, a loss of vacuum due to the malfunction of a hotwell pump. SNCR CAPITAL REQUEST Pursuant to Prudent Utility Practice (PUP) as determination by the Public Service Company of New Mexico (PNM) in March 2014 (March PUP), PNM has notified the Owners of San Jun Unit 4 its intention to proceed without an approved capital budget item (CBI). The cost of this CBI was for approximately $5 Million and was intended to carry work through June 2014. That amount has been exhausted so PNM asked for another CBI authorization to cover additional work through October 2014 for $6.4 Million on June 27, 2014. The CBI was not approved by the San Juan E&O Committee. PNM referred the CBI to the Coordinating Committee where it was also not approved. On July 14, 2014, PNM notified the Owners of San Juan Unit 4 (July PUP) that pursuant to PUP it had determined it w ill proceed with the work contemplated in the CBI. SAN JUAN UNIT 4 LIM ITATIONS In late June, San Juan Unit 4 experienced a pair of tube leaks in a side waterwall panel. PNM has investigated and has determined the tube leake was due to erosion caused by a sootblower. In addition, PNM continues to investigate an issue with the condenser that is limiting the unit output to only 531 MW.

7/16/14

M -S-R PUBLIC POWER AGENCY SOUTHWEST TRANSM ISSION PROJECTS


DC CONVERSION OF M EAD-ADELANTO Los Angeles Department of Water and Power (LADWP) has restarted the technical review process associated with the conversion of the Mead-Adelanto Transmission Project from an AC configuration to a DC configuration as proposed by minority owner Startrans, IO. A revised set of technical documents has been distributed and comments were provided by July 14, 2014. The next step will be for LADWP to make revisions and the studies will continue.

7/16/14

M -S-R PUBLIC POWER AGENCY PACIFIC NORTHWEST PROJECT


BIG HORN I OPERATION MWH % of 5-Year Average June 2014 53,440 108.2 2014 to Date 294,760 100.7 Project Life (since October 2006) 4,091,221 93.1 BIG HORN II OPERATION MWH % of 5-Year Average June 2014 11,127 99.9 2014 to date 61,290 100.8 Project Life (since November 2010) 439,173 91.5 The overall output from the Big Horn projects were above the energy projected during June 2014. Curtailments of energy deliveries were 66 MWh during June on-peak periods which are similar to those experienced in March and May but well below April. Curtailments of energy deliveries were also 66 MWh during June off-peak periods which are consistent w ith those experienced in April and May.

7/16/14

Page 1 of 2

M-S-R Public Power Agency Staff Report

Date: July 3, 2014 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: June 2014 General Manager’s Report Annual Strategic Plan Update Each year the Agency reviews and updates its Strategic Plan for the ensuing five-year period. Member input in the form of commentary or mark-ups to the prior year’s adopted Strategic Plan is provided to the General Manager on or before the last day of August. The General Manager also visits senior management of the members in August to receive additional input. The Member comments are then consolidated and reviewed in a workshop format by the Technical Committee at its regular September meeting and are subsequently provided to the Commission for its consideration at its regular September meeting. Due to the importance and complexity of issues pertaining to the Agency’s Pacific Northwest Project activities, an additional special workshop will be held this year during the week following the regular Technical Committee workshop. The adopted Strategic Plan is then used in the preparation of the Agency’s annual budget to be adopted at its November meeting. The Strategic Plan also provides guidance to the General Manager in the preparation of his workplan and goals and objectives for the ensuing year. This year’s schedule is as follows: Member Mark-Ups and Commentary August 29, 2014 Technical C’tee Workshop – General Manager’s Markups September 10, 2014 Special Workshop re Pacific Northwest Project Issues September 16, 2014 Commission Review September 24, 2014 Annual Policies and Procedures Manual Update The Agency’s Policies and Procedures Manual adopted December 18, 2013 provides that “Commencing in the year following the original adoption of this Policies And Procedures Manual, the General Manager shall review the Manual and recommend updates or amendments for consideration by the Commission at its September meeting.” The same schedule as contemplated for the annual update of the Strategic Plan will be applied to

Page 2 of 2

the review of the Policies and Procedures Manual:

Member Mark-Ups and Commentary August 29, 2014 Technical C’tee Workshop – General Manager’s Markups September 10, 2014 Commission Review September 24, 2014 Development of Transmission Asset Capitalization Policy As discussed at the May 21, 2014 Commission meeting, the Agency needs to develop an Asset Capitalization Policy including a written property units listing for additions and retirements of electric plant and a formal policy for its implementation, to allow the Agency to make independent determinations from its Project Managers such that the Controller can record projects such as the upcoming Mead-Phoenix Spacer Dampers Replacement Project as a replacement asset and an addition to Plant. Staff has been developing such documents and expects to present them to the Commission prior to the invoicing of costs for the Spacer Dampers Replacement Project, but no later than this year’s update to the Policies and Procedures Manual. Macintosh HD:Users:martinhopper:My Laptop Documents:M-S-R Public Power Agency:Administrative:Director:July 2014 MSR PPA General Manager's Report.doc

M-S-R Public Power Agency Staff Report

Date: July 6, 2014 From: Martin R. Hopper, General Manager To: M-S-R PPA Commission Subject: July 2014 Outside Services Budget versus Actual Report Major Legal Providers Reporting Are: Duncan, Weinberg, Genzer, and Pembroke: Through: May 31, 2014 Law Offices of Susie Berlin: Through: May 31, 2014 Porter Simon: Through: June 30, 2014 Major Consulting Providers Reporting Are: Navigant Consulting: Through: May 31, 2014 KBT LLC: Through: May 31, 2014 Flynn Resource Consultants Through: June 30, 2014 Detailed charts of monthly budget versus actual cost comparisons for each provider are attached in their usual format. I recommend the Commission note and file this report. Macintosh HD:Users:martinhopper:My Laptop Documents:M-S-R Public Power Agency:Budget:2014:July 2014 Outside Services Budget v Actual Report.doc

M-S-R PPAAll Legal Summary

7/15/14 2014 Legal Expenses.xlsx

Month of: Jun-2014

By FunctionBudget Current Month

Actual Current Month

Positive Variance

Actual v. Budget % By Function Budget Year

to DateActual Year to

DatePositive Variance

Actual v. Budget %

Generation 11,250 14,853 (3,603) 132% Generation 67,500 100,244 (32,744) 149%Gen - Other 0 0 0 0% Gen - Other 0 0 0 0%Transmission 43,583 0 43,583 0% Transmission 261,500 125,315 136,185 48%Trans - Other 0 0 0 0% Trans - Other 0 4,008 (4,008) #DIV/0!Renewables 6,833 0 6,833 0% Renewables 41,000 13,037 27,963 32%Rens - Other 17,083 0 17,083 0% Rens - Other 102,500 110,707 (8,207) 108%Administrative 3,667 3,592 75 98% Administrative 22,000 15,250 6,750 69%Total 82,417 18,444 63,972 22% Total 494,500 368,561 125,939 75%

By ProviderBudget Current Month


Positive Variance

Actual v. Budget % By Provider Budget Year



Actual v. Budget %

Duncan 62,083 0 62,083 0% Duncan 372,500 246,155 126,345 66%Berlin 9,500 0 9,500 0% Berlin 57,000 23,513 33,487 41%Porter Simon 10,833 18,444 (7,611) 170% Porter Simon 65,000 89,849 (24,849) 138%Others 0 0 0 0% Others 0 9,045 (9,045) #DIV/0!Total 82,417 18,444 63,972 22% Total 494,500 368,561 125,939 75%

CURRENT MONTH YEAR TO DATE

-‐

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

All Legal -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPADuncan Summary


Month of: Jun-2014

Budget Current Month


Positive Variance

Actual v. Budget %

Generation 0 0 0 0%Gen - Other 0 0 0 0%Transmission 42,500 0 42,500 0%Trans - Other 0 0 0 0%Renewables 2,500 0 2,500 0%Rens - Other 17,083 0 17,083 0%Administrative 0 0 0 0%Total 62,083 0 62,083 0%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 0 3,420 (3,420) #DIV/0!Gen - Other 0 0 0 0%Transmission 255,000 123,621 131,379 48%Trans - Other 0 4,008 (4,008) #DIV/0!Renewables 15,000 4,400 10,600 29%Rens - Other 102,500 110,707 (8,207) 108%Administrative 0 0 0 0%Total 372,500 246,155 126,345 66%

CURRENT MONTH

YEAR TO DATE

-‐ 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000

1,000,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Duncan -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPABerlin Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 5,000 0 5,000 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 4,167 0 4,167 0%Rens - Other 0 0 0 0%Administrative 333 0 333 0%Total 9,500 0 9,500 0%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 30,000 13,761 16,239 46%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 25,000 8,022 16,978 32%Rens - Other 0 0 0 0%Administrative 2,000 1,730 270 87%Total 57,000 23,513 33,487 41%

CURRENT MONTH

YEAR TO DATE

-‐

20,000

40,000

60,000

80,000

100,000

120,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Berlin -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPAMisc Legal Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 0 0 0 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 0 0 0 0%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 0 12,465 (12,465) #DIV/0!Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 0 12,465 (12,465) #DIV/0!

CURRENT MONTH

YEAR TO DATE

-‐

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Misc Legal -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPAPorter Simon Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 6,250 14,853 (8,603) 238%Gen - Other 0 0 0 0%Transmission 1,083 0 1,083 0%Trans - Other 0 0 0 0%Renewables 167 0 167 0%Rens - Other 0 0 0 0%Administrative 3,333 3,592 (258) 108%Total 10,833 18,444 (7,611) 170%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 37,500 74,019 (36,519) 197%Gen - Other 0 0 0 0%Transmission 6,500 1,694 4,806 26%Trans - Other 0 0 0 0%Renewables 1,000 616 384 62%Rens - Other 0 0 0 0%Administrative 20,000 13,520 6,480 68%Total 65,000 89,849 (24,849) 138%

CURRENT MONTH

YEAR TO DATE

-‐

20,000

40,000

60,000

80,000

100,000

120,000

140,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Porter Simon -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

7/15/14 2014 Input 2014 Legal Expenses.xlsx

Legal Costs - 2014 2014 Budget Jan-2014 Feb-2014 Mar-2014 Apr-2014 May-2014 Jun-2014 Jul-2014 Aug-2014 Sep-2014 Oct-2014 Nov-2014 Dec-2014 Total Average Year-End Notes8.33% 16.67% 25.00% 33.33% 41.67% 50.00% 58.33% 66.67% 75.00% 83.33% 91.67% 100.00% Projection

DWG&PGeneration

SJGS Agreements - - - - - 3,420 3,420 684 8,208 Transmission

FERC Gen'l 300,000 19,331 15,071 19,132 22,444 25,733 101,710 20,342 244,103 SCE 200,000 8,130 3,138 1,978 3,500 5,165 21,911 4,382 52,587 SCE Experts 10,000 - - - - - - - -

Trans - OtherOther Trans - TRR 200,000 2,204 380 1,272 - 152 4,008 802 9,619 CASIO Rate Case/SWTP

RenewablesBPA/PNW Gen'l 30,000 3,549 166 684 - - 4,400 880 10,559

Rens - OtherOMP/BPA Rate Case 205,000 19,152 25,422 19,314 18,048 28,770 110,707 22,141 265,696

945,000 52,366 44,177 42,380 43,992 59,820 - - - - - - - 242,735 48,547 582,564 5.54% 10.22% 14.70% 19.36% 25.69% 25.69% 25.69% 25.69% 25.69% 25.69% 25.69% 25.69% 62%

Law Offices of Susie BerlinGeneration

AB32/Cap & Trade/SB136860,000 1,173 2,647 3,652 4,548 1,742 13,761 2,752 33,026 Renewables

RES/RPS 50,000 4,082 972 1,072 1,863 34 8,022 1,604 19,252 A&G 4,000 816 856 42 4 13 1,730 346 4,152

114,000 6,070 4,474 4,766 6,415 1,789 - - - - - - - 23,513 4,703 56,430 5.32% 9.25% 13.43% 19.06% 20.63% 20.63% 20.63% 20.63% 20.63% 20.63% 20.63% 20.63% 50%

PNW CounselRenewables

PNW - - - - - - Rens - Other

BPA Rate Case - - - - - - OMP/IRI Complaint - - - - - -

- - - - - - - - - - - - - - - - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Others Italics = EstimatesGeneratiion

Montgomery Andrews - 649 395 7,519 1,498 2,404 2,493 29,915 Trans - Other

TBD - CAISO 150,000 - - - - TCA/PTO Agreements150,000 649 395 7,519 1,498 2,404 - - - - - - - - 2,493 29,915

0.43% 0.70% 5.71% 6.71% 8.31% 8.31% 8.31% 8.31% 8.31% 8.31% 8.31% 8.31% 20%- -

Sub Total 1,209,000 59,085 49,046 54,664 51,906 64,012 - - - - - - - 266,248 55,742 668,910 4.89% 8.94% 13.47% 17.76% 23.05% 23.05% 23.05% 23.05% 23.05% 23.05% 23.05% 23.05% 55%

Porter SimonM-S-R PPA

Generation 75,000 22,240 13,413 14,530 4,947 4,036 14,853 74,019 12,336 148,038 Transmission 13,000 - - - 1,694 - - 1,694 282 3,388

Renewables 2,000 220 396 - - - - 616 103 1,232 A&G 40,000 4,010 582 1,574 52 3,710 3,592 13,520 2,253 27,040

130,000 26,470 14,391 16,104 6,694 7,746 18,444 - - - - - - 89,849 14,975 179,698 20.36% 31.43% 43.82% 48.97% 54.93% 69.11% 69.11% 69.11% 69.11% 69.11% 69.11% 69.11% 138%

G 135,000 87,780 181,063 T 873,000 129,323 309,697 R 287,000 123,744 296,739 A 44,000 15,250 31,192

1,339,000 356,097 818,692

M-S-R PPATotal Outside Consult Summary

7/15/14 2014 Consulting Expenses.xlsx

Month of: Jun-2014

By FunctionBudget Current Month


Positive Variance

Actual v. Budget % By Function Budget Year



Actual v. Budget %

Generation 11,458 0 11,458 0% Generation 68,750 79,186 (10,436) 115%Gen - Other 3,333 0 3,333 0% Gen - Other 20,000 5,700 14,300 29%Transmission 8,750 0 8,750 0% Transmission 52,500 31,569 20,931 60%Trans - Other 25,050 74,108 (49,058) 296% Trans - Other 75,150 74,108 1,042 99%Renewables 6,250 0 6,250 0% Renewables 37,500 13,742 23,758 37%Rens - Other 7,083 0 7,083 0% Rens - Other 42,500 19,760 22,740 46%Administrative 4,167 0 4,167 0% Administrative 25,000 21,203 3,797 85%Total 66,092 74,108 (8,016) 112% Total 321,400 245,269 76,131 76%

By ProviderBudget Current Month


Positive Variance

Actual v. Budget % By Provider Budget Year



Actual v. Budget %

Navigant 4,375 0 4,375 0% Navigant 26,250 13,272 12,978 51%KBT 33,750 0 33,750 0% KBT 202,500 151,921 50,579 75%Flynn RCI 25,050 74,108 (49,058) 296% Flynn RCI 75,150 74,108 1,042 99%Others 2,917 0 2,917 0% Others 17,500 5,968 11,532 34%Total 66,092 74,108 (8,016) 112% Total 321,400 245,269 76,131 76%

CURRENT MONTH YEAR TO DATE

-‐

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

Jan-‐2014 Feb-‐2014 Mar-‐2014 Apr-‐2014 May-‐2014 Jun-‐2014 Jul-‐2014 Aug-‐2014 Sep-‐2014 Oct-‐2014 Nov-‐2014 Dec-‐2014

Outside Services Consultants -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPANavigant Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 625 0 625 0%Gen - Other 0 0 0 0%Transmission 2,917 0 2,917 0%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 833 0 833 0%Total 4,375 0 4,375 0%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 3,750 464 3,287 12%Gen - Other 0 0 0 0%Transmission 17,500 8,906 8,594 51%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 5,000 3,902 1,098 78%Total 26,250 13,272 12,978 51%

YEAR TO DATE

CURRENT MONTH

-‐

10,000

20,000

30,000

40,000

50,000

60,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Navigant -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPAKBT Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 10,000 0 10,000 0%Gen - Other 3,333 0 3,333 0%Transmission 5,833 0 5,833 0%Trans - Other 0 0 0 0%Renewables 6,250 0 6,250 0%Rens - Other 5,000 0 5,000 0%Administrative 3,333 0 3,333 0%Total 33,750 0 33,750 0%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 60,000 72,755 (12,755) 121%Gen - Other 20,000 5,700 14,300 29%Transmission 35,000 22,663 12,337 65%Trans - Other 0 0 0 0%Renewables 37,500 13,742 23,758 37%Rens - Other 30,000 19,760 10,240 66%Administrative 20,000 17,301 2,699 87%Total 202,500 151,921 50,579 75%

YEAR TO DATE

CURRENT MONTH

-‐

100,000

200,000

300,000

400,000

500,000

600,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

KBT -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPAMayson Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 0 0 0 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 2,083 0 2,083 0%Administrative 0 0 0 0%Total 2,083 0 2,083 0%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 0 0 0 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 12,500 0 12,500 0%Administrative 0 0 0 0%Total 12,500 0 12,500 0%

YEAR TO DATE

CURRENT MONTH

-‐

5,000

10,000

15,000

20,000

25,000

30,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Mayson -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPAMisc Consultants Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 833 0 833 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 833 0 833 0%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 5,000 5,968 (968) 119%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 0 0 0 0%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 5,000 5,968 (968) 119%

YEAR TO DATE

CURRENT MONTH

-‐

2,000

4,000

6,000

8,000

10,000

12,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Misc Consultants -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

M-S-R PPAFlynn RCI Summary


Month of: Jun-2014



Positive Variance

Actual v. Budget %

Generation 0 0 0 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 25,050 74,108 (49,058) 296%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 25,050 74,108 (49,058) 296%

Budget Year to Date

Actual Year to Date

Positive Variance

Actual v. Budget %

Generation 0 0 0 0%Gen - Other 0 0 0 0%Transmission 0 0 0 0%Trans - Other 75,150 74,108 1,042 99%Renewables 0 0 0 0%Rens - Other 0 0 0 0%Administrative 0 0 0 0%Total 75,150 74,108 1,042 99%

CURRENT MONTH

YEAR TO DATE

-‐ 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000

Jan-‐2014

Feb-‐2014

Mar-‐2014

Apr-‐2014

May-‐2014

Jun-‐2014

Jul-‐2

014

Aug-‐2014

Sep-‐2014

Oct-‐201

4

Nov-‐2014

Dec-‐201

4

Flynn RCI -‐ Total

CUMMULATIVE BUDGET

CUMMULATIVE ACTUAL

7/15/14 2014 Input 2014 Legal Expenses.xlsx

Legal Costs - 2014 2014 Budget Jan-2014 Feb-2014 Mar-2014 Apr-2014 May-2014 Jun-2014 Jul-2014 Aug-2014 Sep-2014 Oct-2014 Nov-2014 Dec-2014 Total Average Year-End Notes8.33% 16.67% 25.00% 33.33% 41.67% 50.00% 58.33% 66.67% 75.00% 83.33% 91.67% 100.00% Projection

DWG&PGeneration

SJGS Agreements - - - - - 3,420 3,420 684 8,208 Transmission

FERC Gen'l 300,000 19,331 15,071 19,132 22,444 25,733 101,710 20,342 244,103 SCE 200,000 8,130 3,138 1,978 3,500 5,165 21,911 4,382 52,587 SCE Experts 10,000 - - - - - - - -

Trans - OtherOther Trans - TRR 200,000 2,204 380 1,272 - 152 4,008 802 9,619 CASIO Rate Case/SWTP

RenewablesBPA/PNW Gen'l 30,000 3,549 166 684 - - 4,400 880 10,559

Rens - OtherOMP/BPA Rate Case 205,000 19,152 25,422 19,314 18,048 28,770 110,707 22,141 265,696

945,000 52,366 44,177 42,380 43,992 59,820 - - - - - - - 242,735 48,547 582,564 5.54% 10.22% 14.70% 19.36% 25.69% 25.69% 25.69% 25.69% 25.69% 25.69% 25.69% 25.69% 62%

Law Offices of Susie BerlinGeneration

AB32/Cap & Trade/SB136860,000 1,173 2,647 3,652 4,548 1,742 13,761 2,752 33,026 Renewables

RES/RPS 50,000 4,082 972 1,072 1,863 34 8,022 1,604 19,252 A&G 4,000 816 856 42 4 13 1,730 346 4,152

114,000 6,070 4,474 4,766 6,415 1,789 - - - - - - - 23,513 4,703 56,430 5.32% 9.25% 13.43% 19.06% 20.63% 20.63% 20.63% 20.63% 20.63% 20.63% 20.63% 20.63% 50%

PNW CounselRenewables

PNW - - - - - - Rens - Other

BPA Rate Case - - - - - - OMP/IRI Complaint - - - - - -

- - - - - - - - - - - - - - - - #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Others Italics = EstimatesGeneratiion

Montgomery Andrews - 649 395 7,519 1,498 2,404 2,493 29,915 Trans - Other

TBD - CAISO 150,000 - - - - TCA/PTO Agreements150,000 649 395 7,519 1,498 2,404 - - - - - - - - 2,493 29,915

0.43% 0.70% 5.71% 6.71% 8.31% 8.31% 8.31% 8.31% 8.31% 8.31% 8.31% 8.31% 20%- -

Sub Total 1,209,000 59,085 49,046 54,664 51,906 64,012 - - - - - - - 266,248 55,742 668,910 4.89% 8.94% 13.47% 17.76% 23.05% 23.05% 23.05% 23.05% 23.05% 23.05% 23.05% 23.05% 55%

Porter SimonM-S-R PPA

Generation 75,000 22,240 13,413 14,530 4,947 4,036 14,853 74,019 12,336 148,038 Transmission 13,000 - - - 1,694 - - 1,694 282 3,388

Renewables 2,000 220 396 - - - - 616 103 1,232 A&G 40,000 4,010 582 1,574 52 3,710 3,592 13,520 2,253 27,040

130,000 26,470 14,391 16,104 6,694 7,746 18,444 - - - - - - 89,849 14,975 179,698 20.36% 31.43% 43.82% 48.97% 54.93% 69.11% 69.11% 69.11% 69.11% 69.11% 69.11% 69.11% 138%

G 135,000 87,780 181,063 T 873,000 129,323 309,697 R 287,000 123,744 296,739 A 44,000 15,250 31,192

1,339,000 356,097 818,692