you you you you you you you you you you you you you you you you You're a strong, strong power. If we have a motion to approve? Second. Second. Second. The first thing on the agenda is the approval of the March 50th Etael Lee's Committee meeting minutes. Do we have a motion to approve? Second. Second. Second. All in favor? Aye. Okay, we'll move right on to the financial report with Ashley. So you should have a copy of the onion report and this is ads of February 2020. So here are the phones that are represented in this report you've seen this before. So it's electric water gas, wastewater, solid waste, and broadband, and Z&D. Because it's a new year and a new budget, I wanted to go over the 2025 budgeted revenues and expenses. So for 2025, all of these funds together represent revenues of 96.9 million. And this green here just represents shows the different funds. You'll see here not surprising, but electric is at all 60% of all the revenues collected. Here is the 2025 budget expenses. So collectively the overall expenses and this does include transfers is not even 2 million. That does represent again the transfers out to the general fund or any other funds that needed. The revenues do not include any type of grant fundings. So for example, wastewater, we expect to receive like 1.2 million dollar grant and solid money, there's 350,000 dollar grant. So this is all the revenues and all of the expenses. And again, you see that electric is 16 percent of that. So that is our biggest fund and it brings in most money, but it also has the most cost associated with it. So our reports usually take consideration all of the money put in, all the money put in, out, and what you're left with, and that's net income. So that's what these reports represent. You'll see, this is a 2025 budget and net income for the year. So this is where we expect each of these bonds to end the year. You'll see here electric version, this is going to be a loss for the year. This is another year that we're showing a loss. Again, we want to try to change that each year to make sure all of these ones individually show a net income. The reason you want these net incomes to be strong because you use that money to reinvest into the enterprise, into the asset, to the infrastructure. But again electric and ZFD are showing a loss for 2025. And here is a breakdown in 2025, which are James first. You will see a small change is here. So last year it was electric and broadband. This year it will be electric gas and broadband. And so let's hold on for the year. It will be the 13.395. And you will just see how they break out in monthly. So again, this is a monthly transfer that we do. Each. Any questions about that? All right. We're familiar with this slide. So this is again the total utilities net income as a favor. So the first bar is when we are as a temporary. The second is when we should be compared to budgets. So it takes those budget numbers. I just roughly said it. Inside this is where we should be as a temporary. And then the next bar shows last year's amounts. So it compares this. Three years to last year. So the first segment is the fourth trend is first and the second is after-trend is first. So this is electric. So after-trend is first of two million, we're showing a loss of 327,000. Compared to last year, it's about $670,000, $6,000 difference. So we're doing better in this budget compared to last year, mainly because there's about almost $300,000 in interest income that's going to this part for some of our savings and investments. We do have a little bit more in revenues compared to last year of about $280,000. And then the transfer from electric is less. The last year is the best difference between this year and last year after transfers. Here is the water gas waste water solid waste in CMG. So for water, you see that we are knowing about $260,000 less in last year. The majority of that is tap fees. So last year at this time, we have collected $270,000 to let tap fees this year, that's about $11,000. For gas, we heard about 86,000 less in last year. The red revenues have increased in this bond, but the supply calls has as well. So the price for gas and supply is about $120,000 more compared to last year. For gas department. Waste water, we're talking about $162,000 more compared to last year. expenses are less In the last year, so that's the difference. We spent about $153,000 more this time last year in West Florida. So waste is pretty flat last year. It's about a $41,000 difference. So not much change there. And in CNG, this here is typically something, it'll be a loss this year, but we typically like to break even, the majority of this will just be depreciation. So this is a non-cash expense, but it is depreciation of the assets that we have in the CNG. The wasteful are, they were to have better last year, but lower the plus did. Why is that? The portion of that is the grant funding that I spoke about. So it's taking that into consideration assuming that we've been receiving two months worth at that one point, two million. But we have not received that yet. So that's the difference. So when we get that money, you'll see that change. And so what you said about CNG and non-CASH? Depreciation. Depreciation. We feel the acid and vasculation reading, things like that. We depreciate that over time, but it doesn't actually know if our cash will be still have to show that expense over time for those acids. I have one other question. For each one of these water-gas, wastewater, solid water solid waste we don't have a separate account for them, right? Do we have a separate account that tells you at the end of the year how much was Spent how much was so and so and the total left in yes We fund bases. Now there's separate reserve accounts set up at a bank, but then we do have one big pool bank account, but we have separate, which funds have what money? Okay. If I have a bank account of $100, my financial says $10 of this is what 20 is bad like that. So we do keep a separate and account for that. And so for each one at the you could tell us what's the balance in those accounts. Yes. Okay. Well, it's negative a positive. Yes. All right. Thank you. Here's the Roth payment. This is the four transfers and after. Compared to last year, the difference will be between distribution. So, the budget of the distribution of a million dollars. For this year compared to last year. So, you'll see the net income will be more gift-year the last year for the drug end crimes. This slide is the utility reserve. So for 2020-5 the reserve amounts change and its based on income. Remember, is net income will be added by the the appreciation amount and it's a percentage of that each year. So for 2025, these are the new annual transfer amounts. So they'll transfer almost 2 million to the reserves for 2025. You want to lay that in question about 280,000. So as of February, we're showing 25.7, almost 25.8 million in the reserves. Again, these are separate segregated bonds that we transfer into the same camp. And the goal is 43.7 million. That is, if you calculate it goal, it did not change much compared to last year. And that's just based on 180 days of cash on hand. So every day our expenses is that total. We can't do it in 8 days worth that's how much we want to have on hand for reserves. Did we give ourselves, how do we do that? We gave it some years to get to it in this every year. So now financial policies, we just said that we would work towards it and try to get to the goal of 108 days cash on hand for the government upon the general fund. We gave ourselves like five years to move the reserve amount of funds on balance. And we hadn't met that goal for the general bonsai. Your work just kind of worked towards it each year. OK. And then on that gas, on the gas fund, I know we talked about it previously. It looks like you've basically met the goal. Is that why you're doing the transfer now on the other side? So we're, and so once we've hit that goal, looks like what maybe it next month or where it's probably already hit it or whatever, because since we're looking at February versus, you know, now it's April. Is that factored in that transfer or, or is it, do we still accumulate a little bit extra or is there something I guess I'm we're transfer we were transfer in 14,000 per month now we're just going to be transfer in 300,000 per year over is that is that what I was understanding if we go back a few So that's where monthly transfers 14,000 but then back let me look at this other slide But under the 2025 budgeted utility transfers so now we're annual transfer of 300,000 for gas is is what we're doing. So we're going to do about 25,000 a month to the general fund. Yes. OK. So we're going to transfer 25,000 months to the general fund regardless of whether we meet the requirement for the reserves or not, because we budget it for that free rate 25. And then our reserves are based on this one6. So I'm going to transfer 14, seven for the rest of the year, even though we're going to meet that goal because I believe that's a April we wouldn't met the goal. Right, yeah we should meet it this month. We're going to see you to transfer money there. Okay, so we'll still transfer to the reserve. Okay. 20,, we're going on. No matter the question. So I think each year we need to continue to always transfer to the reserves. It's just going to be a practice of we can pull money out of it to use it for different things. Yes, but I think it needs to be a consistent like we that into the form, like, each year that we always put money aside for savings or reserves. I guess just what you do every check every month. But you can also pull it out. We need to pull out 200,000 or 20,000 or something like that. We'll budget that and then ask for putting money in recovery back. So that always stays at a minimum. So maybe this is what I mean, so with gas, are we just gonna run it up to 120% of the reserves versus uses some of that to help fund up some of the other line homes? We can, but we wanna budget for it. So now we put enough in there to where we can use it next year or this year But I don't want to just stop doing it because we made meat something that we need to pull it out and then gotta go back and be cool and be extra Discover it The only waste water you're selling I'm going substance when that income, positive net income, does that take into account the debt service? It doesn't. So what is left over in wastewater is for debt service and for assets in the Westwater treatment, please fill in that. It's all that is what you have to use. Also, the Westwater is part of that crank money is embedded in that one, one to a million, because of one tom, so it's a lot higher than the normal years. Yeah. So we go about 100 days worth of cash on hand. So we do have 180 days cash on hand right now. 59% of that. Okay. So here's 59% each one is a little bit different. Gas will be there in two months, there they are now. Water will be there within a year, 10, 11 months. And then wastewater is two, a little over two years. And then electric is seven. And salt waste is almost not at the same rate, assuming the transfer at the same rate from our panel. So once we reach this like gas, it is 99 percent, then the only thing that really will take most of our cash will be the electric because of the transfers. Correct. Okay. Correct. Okay. So, and GAAA, so remember always transfer to the reserves. And we keep asking about what will do when you get there, but the thing you've never got there. But the goal is when you do get there, when transferring money, we can also pull money out. So it's just as long as we have a plan, we'll always be able to pull money out of it. But it does have to be, this is the minimum we're in to, it's not saying it can be more than that, but this is just a bigger minimum based on our policies. Okay. And this slide here is just an old slide. I think this is probably one of the first slides and I'll get this.