Title
Receive the Monterey County Water Resources Agency (MCWRA) FY 2021-2022 Second Quarter Financial Status Report through December 31, 2021.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Directors:
Receive the Monterey County Water Resources Agency (MCWRA) FY 2021-2022 Second Quarter Financial Status Report through December 31, 2021.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency's FY 2021-2022 (FY22) approved budget totals $38.47 million expenditures and $32.40 million in revenue. On November 22, 2021, Monterey County Water Resources Agency's Board of Supervisor approved to amend the Monterey County Water Resources Agency's Pajaro River Fund 112-9300-WRA002-8484 FY 2021-22 adopted budget to increase appropriations and revenues in the amount of $658,500, to budget totals $39.12 million expenditures and $33.06 million revenue.
As of the second quarter of FY22 ending December 31, 2021, the total revenue received is $11,483,146, 45.8% of FY22 Budgeted Revenue. It includes Special Assessments of $9,914,534, Ad Valorem Taxes of $1,641,953, water delivery and service fees of $1,005,141, grant payments of $373,604, hydro-electric revenue of $317,41, grazing lease and rent revenue of $313,809 and other permits and fee revenue of $64,404. The Agency received $1,509,201 fund transfer from General Fund as a local match of Prop 1 Well Destruction grant.
Comparing to the total revenue of $200,108 in Quarter 1 of FY22, it is an increase of 14,939,949. Revenues received in Quarter 2 includes Ad Valorem of $1,636,766 and Special Assessments of 9,850,319. The total revenue received in FY22 was increased by $368,887, compared to the total revenue received during the same period in FY21.
On the expenditure side, actual expenditure thru December 31, 2021 is $15.05 million, which includes $3.48 million encumbrance and $11.57 million cash expenditures. It is 38.5% of the adopted appropriations. Th...
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