10-K - Consumers 2023 Securitization Funding LLC (0001991774) (Filer)

Tue, Mar 11, 7:50 PM (40 days ago)

**Consumers 2023 Securitization Funding LLC (CNSF) 2024 Annual Report Summary** **Company Overview:** Consumers 2023 Securitization Funding LLC (CNSF) is a wholly owned subsidiary of Consumers Energy Company (CMS Energy Corporation), focused on securitization funding. **Financial Performance:** - **Revenue:** Not explicitly stated, but the company's financial statements and schedules are omitted. - **Net Income:** Not explicitly stated. - **Operating Expenses:** Not explicitly stated. - **Earnings Per Share:** Not explicitly stated. **Strategic Overview:** CNSF's strategic focus is on securitization funding, with key agreements and administration handled by Consumers Energy Company. **Future Outlook:** The company's future outlook is not explicitly detailed, but the strategic focus remains on securitization funding and compliance with servicing criteria. **Risk Factors:** - **Compliance Issues:** There were material instances of noncompliance with servicing criteria, specifically regarding the remittance of amounts due to investors. Enhancements to controls have been implemented to address these issues. **Financial Condition:** The financial condition is not explicitly detailed, but the company is a wholly owned subsidiary of Consumers Energy Company, which is a subsidiary of CMS Energy Corporation. **Market Position Changes:** No significant market position changes are mentioned. **Key Personnel:** - **Jason M. Shore:** President, CEO, CFO, and Treasurer. - **Rejji P. Hayes:** Executive Vice President and Manager. - **Shaun M. Johnson:** Senior Vice President, General Counsel, and Manager. - **Melissa M. Gleespen:** Vice President, Secretary, and Manager. - **Scott B. McIntosh:** Vice President and Controller. - **Albert J. Fioravanti:** Independent Manager. **Executive Compensation:** - **Annual Independent Manager Fee:** $3,500 paid to Lord Securities Corporation. - **Other Compensation:** Not explicitly stated. **Compliance and Ethics:** CNSF adheres to the CMS Energy 2025 Code of Conduct and Guide to Ethical Business Behavior, administered by the Chief Compliance Officer of Consumers Energy Company.