Title
a. Approve a budget amendment previously approved by the Water Resources Board of Supervisor on July 25, 2017- WRAG17-174- which requires additional clarification for the Auditor-Controller's Office to complete the accounting transaction for the Monterey County Water Resources Agency's FY 2016-17 Adopted Budget transferring the Rate Stabilization Reserve of $1,500,000 from Fund 303 - Debt Service Fund Unassigned Fund Balance to Fund 131 CSIP Operating Fund balance; and
b. Authorize the Auditor-Controller's Office to amend the Water Resources Agency FY 2016-17 Adopted Budget for Fund 303 - CSIP Debt Service Fund to increase appropriation with object code 7614 Operating Transfer Out (303-9300-8267-WRA025-7614) for total of $1,500,000 financed by Unassigned Fund Balance 303-3101. (4/5th vote required)
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Supervisors:
a. Approve a budget amendment previously approved by the Water Resources Board of Supervisor on July 25, 2017- WRAG17-174- which requires additional clarification for the Auditor-Controller's Office to complete the accounting transaction for the Monterey County Water Resources Agency's FY 2016-17 Adopted Budget to transfer the Rate Stabilization Reserve of $1,500,000 from Fund 303 - Debt Service Fund Unassigned Fund Balance to Fund 131 CSIP Operating Fund balance; and
b. Authorize the Auditor-Controller's Office to amend the Water Resources Agency FY 2016-17 Adopted Budget for Fund 303 - CSIP Debt Service Fund to increase appropriation with object code 7614 Operating Transfer Out (303-9300-8267-WRA025-7614) for total of $1,500,000 financed by Unassigned Fund Balance 303-3101. (4/5th vote required)
SUMMARY/DISCUSSION:
This transaction is part of previously approved Water Resources Agency Board of Supervisor board report WRAG 17-174 and provides additional clarification as shown in item (A) above related to the transfer of $1,500,000 from Fund 303...
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