Title
Consider approving and recommending that the Monterey County Board of Supervisors approve a proposal to modify the Water Resources Agency Accounting Fund Structure for FY 2018-19 to create more transparency in how revenues are reported in the Agency Budget and the Monterey County Advantage Accounting System as recommended by Rodney Craig Goodman Jr., CPA and the County Auditor-Controller's Office:
a. Create a General Fund 111 by combining the following Agency Funds: 111, 113, 117, 118, 120, 123, 125, 126, 128, 129, 114, 115, 130 that are financed by the following revenue type: Ad Volorem taxes, Royalties, Hydro-electric, Developer Fees/Permits, Rent; and
b. Combine Special Assessment Revenue and Water Delivery/Service Charges for the Castroville Seawater Intrusion Project (CSIP) Transfer Fund 119, CSIP Operations and Maintenance Fund 131, Salinas Valley Reclamation Project (SVRP) Operations and Maintenance Fund 132, Salinas River Diversion Facility Operations and Maintenance Fund 134 and Debt Service/Rate Stabilization Fund 303;and
c. Combine Debt Service Funds for the Salinas Valley Water Project Bond (SVWP) Funds 133 and 313
d. Transfer remaining balances from SVWP Constructions Funds 422 and 423 to Fund 313 the Debt Service Fund for the SVWP Bond.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Directors:
a. Create a General Fund 111 by combining the following Agency Funds : 111, 113, 117, 118, 120, 123, 125, 126, 128, 129, 114, 115, 130 that are financed by the following revenue type: Ad Volorem taxes, Royalties, Hydro-electric, Developer Fees/Permits, Rent; and
b. Combine Special Assessment Revenue and Water Delivery/Service Charges for the Castroville Seawater Intrusion Project (CSIP) Transfer Fund 119, CSIP Operations and Maintenance Fund 131, Salinas Valley Reclamation Project (SVRP) Operations and Maintenance Fund 132, Salinas River Diversion Facility Operations and Maintenance Fund 134 a...
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