•f...amoloomma• MEMORANDUM TO: Geor Bayoud il THP! • on Lindsey r NOV U i I I.I 1. , .•' i 1.' •.: 2 .../. FROM: Carol Tombari \I C,OvERNCR'S BUDGET Oi 1 ICE SUBJ: Oil Overcharge Funds: Monthly Status Report/K-4117 ___ jlt j---- DATE: October 19, 1988 • 0 _,LoefrC:-- ---- As we discussed yesterday, the Energy Management Center is starting to issue monthly reports on the status of oil overcharge funds. I don't believe I made it clear that October marks the first month we are reporting on a routine basis. (While we tracked expenditures internally in FY 86, there wasn't enough activity until now to warrant a formal monthly report.) Another innovation effective with the start of the current fiscal year is monthly meetings with the staff of the Oil Overcharge Funds Review Committee. Jose Camacho of Lieutenant Governor Hobby's Office and Kelly Young of Speaker Lewis' office meet with Carol Biedrzycki, Chris Roitsch, and me regarding general oil overcharge issues. Attached are the agenda and materials from this month's meeting, held last Friday: 1. The paper titled "Status Report" lists the oil overcharge programs according to operational status; we will update this as the different efforts come on line. 2. The sheet titled "Funds Available for Allocation" reports interest earned, additional settlements received, and any funds that may become available as the result of DOE's disapproval of program proposals. (We will reformat this and make it a standing report.) 3. You may be interested in the sheet titled "Budget Time Frame by Program." As you can see, almost all programs are anticipated to be four years' duratiDn; this is our understanding of the agreement among tne leadership. Given the FY88 expenditures recorded to date and our expectation of scheduled expenditures in FY89, we estimate that $80.5 million will have been spent by the end of this biennium. (This is less than half of the funds available and is due largely to the fact that it will take awhile to flow funds through the $98.6 million Revolving Loan Fund. As you can imagine, there is a lot of critical front-end work to be done in creating a fund of this nature and this size.) LL}1- tl _P tA r'-"\
