Title
Recommend that the Water Resources Agency Board of Supervisors:
a. Authorize the Auditor-Controller to amend Monterey County Water Resources Agency's FY 2018-19 Adopted Budget to increase the appropriations sufficiently for the operating transfer out needed to close the fund balances for the following funds: 113, 114, 115, 117, 118, 119, 120, 123, 125, 126, 128, 129, 133, 301, 302, 303, 311, 315, 424, and 425. The transfers are to be recorded to accomplish the WRA Fund restructuring, which was approved by the Board on November 14, 2017. (4/5th vote required); and
b. Authorize the Auditor-Controller to eliminate the following funds: Fund 301 - WRA Zone #2, Fund 302 - WRA Zone #2A, Fund 311 - Hidden Hills, Fund 315 - Blackie Road, and Fund 424 - S.V. Water Project.
Report
RECOMMENDATION:
Recommend that the Water Resources Agency Board of Supervisors:
a. Authorize the Auditor-Controller to amend Monterey County Water Resources Agency's FY 2018-19 Adopted Budget to increase the appropriations sufficiently for the operating transfer out needed to close the fund balances for the following funds: 113, 114, 115, 117, 118, 119, 120, 123, 125, 126, 128, 129, 133, 301, 302, 303, 311, 315, 424, and 425. The transfers are to be recorded to accomplish the WRA Fund restructuring, which was approved by the Board on November 14, 2017. (4/5th vote required); and
b. Authorize the Auditor-Controller to eliminate the following funds: Fund 301 - WRA Zone #2, Fund 302 - WRA Zone #2A, Fund 311 - Hidden Hills, Fund 315 - Blackie Road, and Fund 424 - S.V. Water Project.
SUMMARY/DISCUSSION:
This transaction is the result of an approved WRA BOS Resolution, WRAG 17-240, approved in November of 2017. This transaction finalizes the transfer of fund balances in the above funds that are closing or merging because of the Water Resources Agency's Fund Restructure that provides more transparency and simplicity in how revenues and expenditures are reported in the Agency's Budget. In addit...
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