Title
Hold a public hearing to consider approving and adopting Monterey County Water Resources Agency's Fiscal Year 2024-25 Recommended Budget.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Supervisors:
Hold a public hearing to consider approving and adopting Monterey County Water Resources Agency's Fiscal Year 2024-25 Recommended Budget.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency (Agency) FY 2024-2025 (FY25) Recommended Budget totals $48,759,795 in expenditures and $42,154,850 in revenue and total full time equivalent (FTE) positions is 57 FTE, for all 14 Agency Funds. The Recommended Budget is a decrease of 11% in expenditures and a decrease of 16% in revenue from the Amended Budget of Fiscal Year 2023-24 (FY24).
In the Agency's FY25 Recommended Budget, amount of $8,755,473 is allocated for salaries and benefits, which is 18% of the Recommended Budget. Of the total 57 FTE authorized, 53 positions are funded, 4 positions are unfunded, and 6 positions are partially funded. Total salary saving of both partially funded and unfunded position is $1,126,831.
Total amount budgeted for services provided by contractors and or consultants is $24,737,530, which is decreased by $921,861 from FY24. Monterey One Water payment is 4% deceased to $9,163,033 and other contractors/consultants' expense is 3% increased to $15,574,497, which includes a total amount of $8,980,000 reimbursable by federal aid and or state grants.
FY25 budget's biggest increase over the FY24 Amended Budget is with insurance cost, which is increased by 41% to $1,781,691. Estimated cost of general liability (GL) and pollution coverage through Public Risk Innovation, Solutions, and Management (PRISM) program is expected to increase by 73% to estimated $791,233 in FY25 and the Agency's share of the County's GL and property insurance allocations is increased by 23% to $990,458.
FY25 is another year that the Agency will ...
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