City Council

(15) 23-0022 ENERGY AND ENVIRONMENT COMMITTEE REPORT and ORDINANCE FIRST CONSIDERATION relative to the transfer of surplus money from the Power Revenue Fund of the Los Angeles Department of Water and Power (LADWP) to the Reserve Fund of the City during Fiscal Year (FY) 2022-23. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: CONCUR with the Board of Water and Power Commissioners' (Board) action of December 13, 2022, Resolution No. 023 110, consenting to the adoption of an Ordinance authorizing the transfer of $232,043,000 from the LADWP's Power Revenue Fund to the City's Reserve Fund during FY 2022-23. PRESENT and ADOPT the accompanying ORDINANCE, dated January 6, 2023, directing the transfer of surplus money from the Power Revenue Fund of the LADWP to the Reserve Fund of the City during FY 2022-23.