Title
Consider recommending that the Monterey County Water Resources Agency Board of Directors recommend the Monterey County Water Resources Agency Board of Supervisors approve the Monterey County Water Resources Agency Fiscal Year 2024-25 Recommended Budget.
Report
RECOMMENDATION:
It is recommended that the Finance Committee:
Consider recommending that the Monterey County Water Resources Agency Board of Directors recommend the Monterey County Water Resources Agency Board of Supervisors approve the Monterey County Water Resources Agency Fiscal Year (FY) 2024-25 Recommended Budget.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency (Agency) FY 2024-2025 (FY25) Recommended Budget totals $49,909,795 in expenditures and $43,392,049 in revenue and total full time equivalent (FTE) positions is 57 FTE, for all 14 Agency Funds. The Recommended Budget is a decrease of 9% in expenditures and a decrease of 13% in revenue from the Amended Budget of Fiscal Year 2023-24 (FY24).
In the Agency's FY25 Recommended Budget, amount of $8,755,473 is allocated for salaries and benefits, which is 18% of the Recommended Budget. Of the total 57 FTE authorized, 53 positions are funded, 4 positions are unfunded, and 6 positions are partially funded.
Total amount budgeted for consultant service is $25,537,530, which is a decrease of $121,861 (0.5%) from FY24. Monterey One Water payment is 4% deceased to $9,163,033 and other consultant expense is 2% increased to $16,374,497.
FY25 Budget includes insurance cost of $1,781,691, County's Cost Plan (COWCAP) of $573,662 and total debt payment of $4,440,213, county department charges of $823,171, and other services and supplies of $3,674,368. The Budget recommends assignment of $105,000 of Fund 116 to capital project reserve in Fund 116. To continue with 2023 winter storm repairs, fund transfers of $244,474 and $200,000 from Fund 111 Fund Balances to Fund 122 and Fund 124, respectively, as well as a transfer from Genera...
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