Title
a. Hold a Public Hearing date on June 4, 2019 at 1:30 P.M. to consider adopting assessment rate charges for Fiscal Year 2019-20 with a 3.5% Cost of Living Adjustment (COLA) increase for Zone 2C Operations and Maintenance of Nacimiento and San Antonio Dams and Administration; and
b. Approve and adopt a FY 2019-20 (COLA) increase of 3.5% for Zone 2C Operations and Maintenance of Nacimiento and San Antonio Dams and Administration.
Report
RECOMMENDATION:
Recommend that the Monterey County Water Resources Agency Board of Supervisors:
a. Hold a Public Hearing date on June 4, 2019 at 1:30 P.M. to consider adopting assessment rate charges for Fiscal Year 2019-20 with a 3.5% Cost of Living Adjustment (COLA) increase for Zone 2C Operations and Maintenance of Nacimiento and San Antonio Dams and Administration; and
b. Approve and adopt a FY 2019-20 (COLA) increase of 3.5% for Zone 2C Operations and Maintenance of Nacimiento and San Antonio Dams and Administration.
SUMMARY/DISCUSSION:
This report reflects the recently published 2019 Cost of Living Adjustment (COLA) of 3.5% for Zone 2C Operations and Maintenance and Administration (O&M). Ordinance No. 4203 governs Zone 2C assessments which the electorate of the Agency's Zone 2C approved for the Salinas Valley Water Project (SVWP).
Historically, the Agency annually utilizes approximately $200,000 in fund balance from Fund 116 to cover O&M expenditures. In FY 2016-17, the Board of Directors approved the Agency's request to annually set aside $105,000 in fund balance to work on infrastructure deferred maintenance identified in the Capital Asset Management Plan (CAMP), these funds are kept in a separate balance sheet account within Fund 116. Therefore, the requested 3.5% COLA estimated increase of $113,316 is needed to supplement the O&M annual budget.
Unfortunately, the 3.5% COLA increase of $113,316 will not cover all of repairs caused by the 2017 winter storms that eroded a section of the Nacimiento Spillway ...
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