Thursday, March 28, 2024

PUD receives final FEMA wildfire payment

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OKANOGAN – The Federal Emergency Management Agency (FEMA) paid the Okanogan County Public Utility District its final reimbursement last month for the 2014 Carlton Complex wildfire. PUD finance and accounting director Don Coppock said the final payment of $494,870.46 brought to $8.2 million the amount FEMA paid toward the total project cost of about $11.5 million.

Financial issues were the principal topic at the bi-weekly PUD board meeting on July 8. Ron Gadeberg, director of power resources and broadband services said June wholesale power sales were under budget by nearly $50,000 while May’s retail sales exceeded budget by $16.031.

“The ups and downs of the market throughout 2019 now has the power sales $2.7 million short of budgeted revenue, which had been projected to be $49.3 million,” a PUD media release said.

“Weather and power market issues caused power prices to spike this past winter, costing the district nearly $2 million more than budgeted in power purchases in February and March.”

The district’s unrestricted funds dropped below $10 million for the first time in several years, treasurer Janet Crossland said.

General Manager Steve Taylor noted that while district financial targets remain above what the district needs, the high power expenses could require a reduction in capital projects, borrowing from the $6.1 million rate stabilization fund or borrowing elsewhere to cover the year-end shortfall.

In other business the broadband department increased its customer count to 2,975 including 453 fiber and 2,522 wireless/Wi-Fi.

The PUD board will meet at 3 p.m. Tuesday, July 22 and at 3 p.m. on Tuesday, August 12 and August 26. Future board meetings are scheduled for Sept. 9 and 23; Oct. 7 and 21; Nov. 4 and 18; and Dec. 2, 16 and tentatively 30.

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