Title
Consider receiving a summary report of the Monterey County Water Resources Agency Financial Workshop and provide direction to staff.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Directors:
a. Consider receive a summary report of the Monterey County Water Resources Agency Financial Workshop; and
b. Provide direction to staff.
SUMMARY/DISCUSSION:
Monterey County Water Resources Agency (Agency) Board of Directors and Board of Supervisors held a workshop on December 9, 2022 to review Agency’s financial forecast thru Fiscal Year (FY) 2026-27.
The workshop was attended by seven (7) Board of Directors, one (1) Board of Supervisor Chief of Staff, 18 Agency’s staff and 5 public members.
The agenda included highlighting success in year 2022, revenue/expenditure history of the Hydro-Electric Power plant, Unit 2 upgrade feasibility study of the Hydro-Electric Power plant, Agency’s collaboration efforts with local GSAs. Staff also presented financial forecast thru Fiscal Year 2026-27 for Fund 111, Fund 131/132/134 and Fund 116, forecasted annual use of fund balances through FY 2026-27. Participants had group discussion of “what does success look like in 5 years”.
Attachment 1 is a summary report of the workshop including comments from the participants.
OTHER AGENCY INVOLVEMENT:
The Planning Committee reviewed the report on February 1, 2023
FINANCING:
There is no financial impact for receiving this report.
Prepared by: Nan Kyung Kim, Finance Manager III (831)755-4861
Approved by: Lew Bauman, General Manager, (831) 755-4860
Attachments:
1. MCWRA Financial Workshop Summary Report