Title
Consider recommending that the Monterey County Water Resources Agency Board of Directors recommend the Monterey County Water Resources Agency Board of Supervisors to:
a. Approve and adopt a Fiscal Year (FY) 2024-25 assessment charges with cost-of-living adjustment (COLA) increase of 2.4% for Zone 2C Administration and Operations & Maintenance of Nacimiento and San Antonio Dams; and
b. Set and hold a public hearing at 10:30 AM on May 29, 2024, to consider approving and adopting assessment rate charges; and
c. Direct the Clerk of the Board of Supervisors to publish a hearing notice once a week for two consecutive weeks prior to the date set for the hearing.
Report
RECOMMENDATION:
It is recommended that the Finance Committee recommend that the Monterey County Water Resources Agency Board of Directors recommend that the Monterey County Water Resources Agency Board of Supervisors to:
a. Approve and adopt a Fiscal Year (FY) 2024-25 assessment charges with cost-of-living adjustment (COLA) increase of 2.4% for Zone 2C Administration and Operations & Maintenance of Nacimiento and San Antonio Dams; and
b. Set and hold a public hearing at 10:30 AM on May 29, 2024, to consider approving and adopting assessment rate charges; and
c. Direct the Clerk of the Board of Supervisors to publish a hearing notice once a week for two consecutive weeks prior to the date set for the hearing.
SUMMARY/DISCUSSION:
Monterey County Water Resources Agency (MCWRA) Ordinance No. 4203 (Ordinance) governs Zone 2C assessments which the electorate of the Agency's Zone 2C approved for the Salinas Valley Water Project (SVWP) to fund certain operations and maintenance at Nacimiento Dam and San Antonio Dam. The Ordinance stipulates the SVWP assessments be subjective to COLA increases based on the February Consumer Price Index (CPI) of the San Francisco, Oakland and San Jose urban area.
The Ordinance states that the target of ending/beginning fund balances for SVWP operation and mainte...
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