Title
Adopt a resolution approving the Monterey County Water Resources Agency's Fiscal Year 2023-24 Recommended Budget.
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Board of Supervisors:
Adopt a resolution approving the Monterey County Water Resources Agency's Fiscal Year 2023-24 Recommended Budget.
SUMMARY/DISCUSSION:
The Monterey County Water Resources Agency (Agency) Fiscal Year 2023-24 (FY24) Budget consists of 14 funds. The combined total recommended appropriations are $52,148,209, an increase of 8% from $48,072,295, the FY23 Amended Budget.
Total Full Time Equivalent (FTE) positions in the FY24 Recommended Budget ("Budget") include 48 FTE funded positions and three (3) unfunded FTE positions. A total of $8,297,215 is allocated for total salaries and benefits, which is 15% of the Budget. Consultant costs include payments of $9,557,314 to Monterey One Water , $7,765,716 of grant-reimbursable consultant services, and $8,231,361 for other consultant/contract services, which are 18%, 16%, and 15% of the Recommended Budget, respectively. Monterey One Water operates the Castroville Seawater Intrusion Project (CSIP), the Salinas Valley Reclamation Project (SVRP) and the Salinas River Diversion Facility (SRDF).
A combined total debt payment in FY24 is $4,486,338 or nine percent (9%) of the Budget, which is comprised of bond payments for the Salinas Valley Water Project Bond (SVWP), and loan payments for CSIP and SVRPTotal Fund transfers to the Debt Service Funds for CSIP loan and SVWP bond payments are estimated at $3,423,338 or seven percent (7%) of the Budget.
The remaining expenditures of other charges, services, and supplies are $10,386,928, 20% of the Budget, which includes insurance costs, other charges by the County's service departments, intra and inter-fund transfers, allocations of the Countywide Cost Allocation Plan (COWCAP), and payments to other agencies. Agency's COWCAP allocations in FY24 will i...
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