Title
Consider recommending that the Monterey County Water Resources Agency Board of Supervisors approve the Monterey County Water Resources Agency Fiscal Year 2024-25 Recommended Budget.
(Staff Presenting: Nan Kyung Kim)
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Directors:
Consider recommending that 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 $49,559,795 in expenditures and $43,042,049 in revenue and total full time equivalent (FTE) positions is 57 FTE, for all 14 Agency Funds. The Recommended Budget is a decrease of 10% in expenditures and a decrease of 14% 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 General Fund $850,000 to Fund 116 are included in the budget.
The FY25 R...
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