O&M Budget
05/11/2022
When are the Phase 2 Labor/O&M budget proposals due?
If you expect that a project will need additional funds
When is a project amendment or updated BCE needed?
Revenue Requirement
How much money do we need?
Defines and documents the processes that we will follow in order to create our budget proposal
What is the Budget Development Decision-Making Framework?
The Financial Stewardship team member assuming the role of economist responsible for rate design
Who is Andrew Zaremba?
Extraordinary maintenance projects over $500,000, condition assessments over $50,000 or one-time professional services over established thresholds
What are O&M projects to include in the decision-making framework process?
Projects greater than $500,000
What is a budget threshold for a Long-Form BCE?
A strategic financial plan for our water system
What is our Long-Range Financial Plan?
A team assembled to act as consultants and provide advice on the development of the business case
What is a reference group?
The Watershed, the GRFF, Northfork Wells, Pipeline 5 and the Additional Water Storage Project (AWSP)
What assets are included in RWSS cost sharing?
Financial forecasting tool we use to facilitate the creation and tracking of our budgets
Adaptive (Workday Adaptive Planning)
Unspent dollars from an ongoing project that will be needed in the next biennium
What is carry-forward budget request?
Determines total to be paid by each customer class
What is a Cost of Service Analysis?
Will be increasing to 50% on internal labor on 1/1/2023
What is the Administrative and General overhead rate (A&G)?
The Financial Stewardship team member that will be facilitating the 2023/24 Capital Budget and CIP development
Who is Julie Louviere?
The Financial Stewardship team member leading the O&M budget development and bringing together the overall budget proposal for 2023/24
Who is Alyssa Flores?
Less than $100,000 or “low complexity”
What is a capital budget threshold for Charter only?
The Financial Stewardship team member leading the development of our Long-Range Financial Plan
Who is Lyna Vo?
Used to document the need for a new position and provide connection to PUB Strategic Directives
What is a Hiring Action Form?
Projects that have not started or were on the CIP, planned to start after 2022
What are budgets that will need to have an updated charter or BCE to be included on the CIP?
Itemized breakdown of a cost element for budget tracking at Tacoma Water
What is a split in Adaptive?
Provides direction to Utilities Accounting to remove an asset from our balance sheet records
What is a Plant Retirement Form?
Deliberate rate adjustments to provide stability and long-term sustainability on behalf of our ratepayers
What is gradualism?
Short-Form BCE, Long-Form BCE, Analytical Template, Project Request Form, Amendments, Project Closure Form
What are budget development decision-making tools?
The Financial Stewardship team member and SME for Fleet, RWSS, secondary labor and overhead questions
Who is Marc Powell?