UST Trust Fund News August 09

Financial Solutions for the Cleanup of America



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UST Trust Fund News

Updates from CA Cleanup Fund Task Force Meeting Highlights

Attached are the Handouts given to us by the UST Fund during the 8-17-09 Task Force Meeting. These are also posted to http://www.waterboards.ca.gov/water_issues/programs/ustcf/taskforce.shtml

I bundled these into 3 groups.

1) Status of Payments
This outlines the upcoming payments in process of being made. Please note: the figures in the tables directly below each priority class are values as of 8/16/09. These figures change daily, but the data is only available on an export basis (so it won't add up exactly to the amounts they specify are being paid). Example: Priority B shows $9.8M under payments being made and $28.2 M under Payments on Hold. A total of approx. $35M will be paid out - $9.8 and $25.2 of the Payments on Hold. $3M of Payments on Hold will be first in line for the next quarter's revenues.

2) Fund Revenue Expenses of 2005-2009
This is a series of two spreadsheets. The colored one is this fiscal year 2009/2010. The Fund presented a different version of this table at the 8/3/09 meeting (see website for this table). The second table is the past four years of the Fund's Expenditure Summary in the same format as this FY.

3) UST Fund Graph 8-17-09
This chart shows various financial data points going back to FY 1991/1992. You can clearly see on the chart when everything started to decline sharply. One note: the extreme decline in Cash Balance and Receipts between 03/04 and 04/05 was explained to us as the $38M remaining from the end of the RUST Program, was originally put back into the Fund, but after some type of dispute regarding where did this money really belong, it was removed from the Fund the following year and put into the general fund.