Title
Support that the Monterey County Water Resources Agency Board of Supervisors adopt a resolution approving and authorizing the Auditor-Controller to:
a. Increase Fiscal Year 2023-24 (FY24) appropriations by $1,812,000 to the Adopted Budget of Fund 112 (Pajaro), Appropriation WRA002, Unit 8484 to pay for increased operation needs funded by $1,212,000 of increased revenue and $600,000 of Fund 112 Fund Balance; and
b. Increase FY24 revenue by $1,212,000 to the Adopted Budget of Fund 112, Appropriation WRA002, Unit 8484 with transfer of $900,000 from Fund 116 and other revenue of $312,000; and
c. Increase FY24 appropriations in Fund 116, Appropriation WRA006, Unit 8485 by $900,000 to transfer to Fund 112 Appropriation WRA002, Unit 8484 for repair expenses of the 2022/23 winter storm events.
Report
RECOMMENDATION:
It is recommended that the Budget Committee support that the Monterey County Water Resources Agency Board of Supervisors adopt a resolution approving and authorizing the Auditor-Controller to:
a. Increase Fiscal Year 2023-24 (FY24) appropriations by $1,812,000 to the Adopted Budget of Fund 112 (Pajaro), Appropriation WRA002, Unit 8484 to pay for increased operation needs funded by $1,212,000 of increased revenue and $600,000 of Fund 112 Fund Balance; and
b. Increase FY24 revenue by $1,212,000 to the Adopted Budget of Fund 112, Appropriation WRA002, Unit 8484 with transfer of $900,000 from Fund 116 and other revenue of $312,000; and
c. Increase FY24 appropriations in Fund 116, Appropriation WRA006, Unit 8485 by $900,000 to transfer to Fund 112 Appropriation WRA002, Unit 8484 for repair expenses of the 2022/23 winter storm events.
SUMMARY/DISCUSSION:
On January 31, 2023, the Monterey County Board of Supervisors and the Monterey County Water Resources Agency (Agency) Board of Supervisors approved the Advance Funding Agreement and provided $7,000,000 from the County's strategic reserves to provide cash flow assistance for emergency protective measure...
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