Title
Consider receiving a report on the Special Joint Meeting between the Water Resources Board of Supervisors (BOS) and the Water Resources Board of Directors (BOD) held on September 19, 2019 related to Financial Planning and provide direction to staff on next steps to seek funding on deferred maintenance.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Directors -Finance Committee:
Receive a report on the Special Joint Meeting between the Water Resources Board of Supervisors (BOS) and the Water Resources Board of Directors (BOD) held on September 19, 2019 related to Financial Planning and provide direction to staff on next steps to seek funding on deferred maintenance.
SUMMARY/DISCUSSION:
On April 26, 2019, the BOD held a special workshop in which the Interim General Manager presented an overview of 40 projects and 21 programs were identified as either unfunded or underfunded. The combined total of these projects and programs summed $85 million. In the same workshop, Monterey County Counsel presented an overview of possible funding mechanisms the Agency could pursue to fund these projects and programs. As part of the workshop, attendants were broken into groups and were asked to address 4 questions related to how the Agency should fund these projects/programs. Given these responses Agency staff reviewed the recommendations and hired a consultant to assist in the process.
On September 19, 2019, a follow-up workshop was held via a joint meeting between the BOD and BOS in which staff brought back the recommendations from the April 26, 2019 workshop and further investigated the costs of the projects/programs to a revised total of $145 million as well as the possible funding mechanisms. During the September workshop, Agency staff and an external consultant provided an overview of the steps taken since the April workshop in addition to providing a revised list of funding alternatives. At the end of the presentati...
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