Title
Receive the Monterey County Water Resources Agency FY 2025-26 Financial Status Report through June 30, 2026. (Staff Presenting: Nora Cervantes)
Report
RECOMMENDATION:
It is recommended that the Finance and Administration Committee:
Consider recommending that the Monterey County Water Resources Agency Board of Directors receive Monterey County Water Resources Agency FY 2025-26 Financial Status Report through June 30, 2026.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency (Agency) FY 2025-2026 (FY26) Budget was adopted with totals of $43.21 million in expenditure and $38.43 million in revenue. In September 2025, the Budget was amended to increase its appropriations by $400,000 and to increase revenue by $1,001,606 for Groundwater Monitoring Program expenses and revenues. The FY26 Amended Budget totals $43.61 million in expenses and $39.44 million in revenue.
Agency’s total actual revenue received between July 1, 2025, through June 30, 2026, was $30.07 million, which includes special assessments of $17.45 million, grant payments of $2.2 million, grazing lease & interest payment of $1.26 million and $1.91 million of Water Delivery and Service fee payments. The total revenue received was 76.4% of FY26 revenue budget.
Total actual expenditures received between July 1, 2025, through June 30, 2026 were $30.17 million. Of the total expenditure, $7.62 million was salaries and benefits, $15.25 million was contractor/professional services, $1.75 million was for SVWP bond payments and $1.83 million was for insurances. The total expenditure through June 30, 2026 was 69.0% of FY26 budgeted expenditure of $43.61 million.
Summary of Agency’s consolidated fund balance estimate for FY26 is as follows:
Amended Budget Year-To-Date Amount
FY26 Beg. Fund Balance $23,203,938 $23,203,938
FY26 Revenues 39,437,673 30,139,432
FY26 Expenditures (43,605,541) -30,076,926
FY26 Fund Balance (use) ( 4,167,868)
FY26 Est. Available Fund Balance $19,035,676 $23,266,444
OTHER AGENCY INVOLVEMENT:
None
FINANCING:
There is no financial impact for receiving this report.
At the meeting on September 16, 2025, the Agency Board of Supervisors approved a budget amendment of the FY26 Adopted Budget to increase its appropriations by $400,000 and to increase revenue by $199,070, funded by grant revenue and payment of $802,536, financed via a Master Agreement for Professional Services with the Salinas Valley Basin Groundwater Sustainability Agency.
Monthly and quarterly financial reports reflect budgetary changes resulting from the amendment starting October 1 Accounting Period 4.
Prepared by: Nora Cervantes, Accountant III, (831) 755-5325
Approved by: _________________________________________________
Ara Azhderian, General Manager, (831) 755-4860
Attachments:
1. FY26 Financial Status Report through June 30, 2026