City Council

(3) 24-1482 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) 2024-25. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: 1. CONCUR with the Board of Water and Power Commissioners’ (Board) action of December 10, 2024, Resolution No. 025-112, which approves the transfer of $219,312,000 from the Power Revenue Fund of the LADWP to the Reserve Fund of the City during FY 2024-25. 2. PRESENT and ADOPT the accompanying ORDINANCE, dated November 22, 2024, directing the transfer of surplus money from the Power Revenue Fund of the LADWP to the Reserve Fund of the City during FY 2024-25. Fiscal Impact Statement: None submitted by the City Attorney nor the Board. Neither the City Administrative Officer nor the Chief Legislative Analyst has completed a financial analysis of this report.