HomeMy WebLinkAbout12.04.20 12_8_20 BOS Meeting Item 4.14 PGE Settlement PowerPoint Presentation
From:Schuman, Amy
To:Alpert, Bruce;Bennett, Robin;Clerk of the Board;Connelly, Bill;Cook, Holly;Lambert, Steve;Lucero, Debra;
McCracken, Shari;Paulsen, Shaina;Pickett, Andy;Ring, Brian;Ritter, Tami;Rodas, Amalia;Sweeney, Kathleen;
Teeter, Doug
Cc:Jessee, Meegan
Subject:12/8/20 BOS Meeting Item 4.14 PGE Settlement PowerPoint Presentation
Date:Friday, December 4, 2020 3:42:56 PM
Attachments:4.14.PPT.pdf
Good afternoon Supervisors,
Please see the attached presentation that has been added for the 12/8 Board meeting Item 4.14 -
PG&E Settlement Fund Follow-Up and Draft Policy.
It is now also available on iLegslate and online to the public.
Sincerely,
Amy Schuman
Associate Clerk of the Board
Butte County Administration
25 County Center Drive, Suite 200, Oroville, CA 95965
O: 530.552.3300 |D: 530.552.3308 | F: 530.538.7120
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4.14
PG&E Settlement Fund
Policy & Follow Up
Presentation to the
Board of Supervisors
December 8, 2020
Agenda
•Staff Presentation
•Background
•Recommended Policy & Board Discussion
•County Stability Initiative Follow Up &
Recommendations
•Board Discussion, Feedback & Direction
PG&E Settlement Fund
•$204 million for impacts to County
functions in PG&E Settlement Fund
•Fund Committed to County Stability,
Hazard Mitigation & Recovery
•Draft Policy to Facilitate Use of Funds
•Follow up & Initial Recommendations on
County Stability Initiatives
PG&E Settlement Policy
•Key priorities & principles
•Stability, hazard mitigation and recovery
•Prioritizes Camp Fire impacts & urgent
projects that leverage outside funds.
•Creates a process for submitting
initiatives & projects for consideration.
•Requires periodic reporting on the PG&E
Settlement Fund.
County Stability Follow Up &
Recommendations
•Property Tax losses and other direct
Camp Fire impacts
•General Fund Reserve
•Audit Reserve
•County Liabilities
•Debt
•Unfunded Liabilities
Property Tax Losses &
Recommended Backfill
•State 3-year backfill ends FY
2021-22
•Year 1 $1.5 million
•Year 2 $4.3 million
•Year 3 $4.2 million
•Approximately $4 million
shortfall est. in FY 2021-22
•Recommend a time & dollar
limited property tax backfill of
up to $22 million.
Additional Direct Impact
Follow Ups
•General Fund Reserves & Contingences
-$8 million increase recommended
•Camp Fire Audit Reserve
-$5 million reserve recommended
•Potential Jail Project Shortfall
-Pending
•Additional Direct Impacts from the Camp Fire
-Not recommended at this time
County Debt &
Unfunded Liabilities
•2010 Bangor Fire Station #55
-$903,000 Payoff Recommended
•Unfunded Liabilities
-$20 million contribution to Pension Trust
for Unfunded Safety Pension Liabilities
Recommended.
-Prepayment of Annual Unfunded Liability
Payment Recommended.
Recommendations & Next Steps
1.PG&E Settlement Fund Policy –approval or
direction on changes
2.County Stability Initiatives Consideration
i.Up to $22m for Property Tax Backfill
ii.$8m General Fund Reserve
iii.$5m Camp Fire Audit Reserve
iv.$0.9m Bangor Fire Station Debt Payoff
v.$20m safety pension trust & cash flow for
prepayment
3.Provide direction to staff