Title
Receive the Monterey County Water Resources Agency FY 2025-26 Financial Status Report through September 30, 2025. (Staff: Nan Kim)
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Directors:
Receive the Monterey County Water Resources Agency FY 2025-26 Financial Status Report through September 30, 2025.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency (Agency) FY 2025-2026 (FY26) Adopted Budget totals $43.21 million in expenditures and $38.43 million in revenue.
Agency’s total actual revenue received between July 1, 2025, through September 30, 2025, was $.82 million, which includes grant payments of $0.33 million, grazing lease & interest payment of $0.20 million and $0.11 million of Water Delivery and Service fee payments. The total revenue received was 2% of FY26 revenue budget.
Total actual expenditures during the reporting period were $13.58 million, which includes $3.37 million encumbrance. Of the total expenditure, $1.76 million was salaries and benefits, $7.33 million was contractor/professional services, $1.34 million was for SVWP bond payments and $1.83 million was for insurances. The total expenditure through September 30, 2025 was 31% of FY26 budgeted expenditures of $43.21 million.
Summary of Agency’s consolidated fund balance estimate for FY26 is as follows:
Adopted Budget Year-To-Date Amount
FY26 Beg. Fund Balance $22,918,135 $22,918,135
FY26 Revenues 38,435,673 791,378
FY26 Expenditures (43,205,541) (13.583.982)
FY26 Fund Balance (use) ( 4,769,868)
FY26 Est. Available Fund Balance $18,148,267 $10,125,531
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 will reflect budgetary changes resulting from the amendment starting October 1 Accounting Period 4.
Prepared by: Nan Kyung Kim, Finance Manager III, (831) 755-4860
Approved by: _________________________________________________
Ara Azhderian, General Manager, (831) 755-4860
Attachments:
1. FY26 Financial Status Report thru through September 30, 2025