Budget panel amends SFPUC bond authorizations and forwards financing changes to full Board
June 21, 2021 | San Francisco County, California
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The Board of Supervisors’ Budget and Appropriations Committee on June 21 amended and advanced a package of San Francisco Public Utilities Commission financing measures, including increased wastewater bond authorizations, and voted to send the ordinances to the full Board with a positive recommendation.
Charles Pearl, deputy chief financial officer at the SFPUC, told the committee the largest change is a $213.5 million increase in the Wastewater Enterprise capital plan to accelerate biosolids work tied to the Southeast Wastewater Treatment Plant rebuilding schedule; the Power Enterprise request rose by about $17.3 million for transmission, distribution and substation work. Pearl also said the Low Carbon Fuel Standard project appropriation would be reduced by $2 million because those revenues self‑appropriate through work with the SFMTA.
The Budget Legislative Analyst recommended one clarifying amendment to item 210650: when the PUC issues refunding bonds it should submit a refunding savings report and the official statement to the Board of Supervisors. Chair Matt Haney moved the amendment and Supervisor Ronan seconded; the amendment passed on a roll call.
Anita Ekonom, chair of the SFPUC Citizens Advisory Committee, called in during public comment to endorse the SFPUC staffing and equity positions that the supplemental appropriations would help fund. Nick Menard of the BLA told the committee that the proposed debt and revenue changes are consistent with the PUC’s debt management and fund balance policies and recommended approval as amended.
After taking the amendment, the committee voted to forward items 1–4 and a later supplemental appropriation package (items 7–8) to the full Board on July 13 with positive recommendations.
Votes at a glance: The committee recorded roll‑call votes to (a) adopt the BLA’s amendment to require refunding savings reports if refunding bonds are issued (amendment to item 4 — passed), and (b) forward items 1–4 and items 7–8 to the full Board on July 13 with positive recommendations (all motions passed on roll call).
What’s next: The measures will go before the full Board of Supervisors at its July 13 meeting for final consideration.
Charles Pearl, deputy chief financial officer at the SFPUC, told the committee the largest change is a $213.5 million increase in the Wastewater Enterprise capital plan to accelerate biosolids work tied to the Southeast Wastewater Treatment Plant rebuilding schedule; the Power Enterprise request rose by about $17.3 million for transmission, distribution and substation work. Pearl also said the Low Carbon Fuel Standard project appropriation would be reduced by $2 million because those revenues self‑appropriate through work with the SFMTA.
The Budget Legislative Analyst recommended one clarifying amendment to item 210650: when the PUC issues refunding bonds it should submit a refunding savings report and the official statement to the Board of Supervisors. Chair Matt Haney moved the amendment and Supervisor Ronan seconded; the amendment passed on a roll call.
Anita Ekonom, chair of the SFPUC Citizens Advisory Committee, called in during public comment to endorse the SFPUC staffing and equity positions that the supplemental appropriations would help fund. Nick Menard of the BLA told the committee that the proposed debt and revenue changes are consistent with the PUC’s debt management and fund balance policies and recommended approval as amended.
After taking the amendment, the committee voted to forward items 1–4 and a later supplemental appropriation package (items 7–8) to the full Board on July 13 with positive recommendations.
Votes at a glance: The committee recorded roll‑call votes to (a) adopt the BLA’s amendment to require refunding savings reports if refunding bonds are issued (amendment to item 4 — passed), and (b) forward items 1–4 and items 7–8 to the full Board on July 13 with positive recommendations (all motions passed on roll call).
What’s next: The measures will go before the full Board of Supervisors at its July 13 meeting for final consideration.
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