Title
Receive the Monterey County Water Resources Agency FY 2024-25 Financial Status Report through June 30, 2025.
Report
RECOMMENDATION:
It is recommended that the Budget Committee receive the Monterey County Water Resources Agency FY 2024-25 Financial Status Report through June 30, 2025.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency (Agency) FY 2024-2025 (FY25) Adopted Budget totals $48.76 million in expenditures and $42.15 million in revenue.
As of September 7, 2025, Agency’s FY25 total revenue between July 1, 2024 and June 30, 2025 was $37.41 million, which was comprised of $35.75 million received and $1.66 million accrued. The combined total of Ad Valorem Taxes and Special Benefit Assessments was $21.04 million, 56% of the total revenue. Other revenue includes grant payments of $5.47 million, Water Delivery and Service charges of $2.33 million, hydro-electric power revenue of $1.45 million and interest income and other revenue of $1.82 million. The total revenue was 93% of FY25 revenue budget and an increase of $0.64 million from FY24.
Agency’s total expenditures in FY25 were $34.97 million, which includes $0.3 million of capital asset expense. Of the total expenditure, $6.86 million (20%) was salaries and benefits, $14.09 million (40%) was professional services and $1.80 million (5%) was for insurances. The total expenditure was 72% of FY25 budgeted expenditures of $48.76 million.
Summary of Agency’s consolidated fund balance estimate for FY25 is as follows:
Adopted Budget Actual Amount
FY25 Beg. Fund Balance $20,816,729 $20,816,729
FY25 Revenues 42,154,850 37,413,571
FY25 Expenditures (48,759,795) (34,969,763)
...
Click here for full text