RESOLUTION NO. 2007-11

 

A RESOLUTION OF THE BOARD OF DIRECTORS OF THE

MONTEREY PENINUSULA WATER MANAGEMENT DISTRICT

ADOPTING THE BUDGET FOR FISCAL YEAR 2007-08

 

WHEREAS, the General Manager has proposed a budget for Fiscal Year 2007-08, a copy of which is on file at the District’s office.

 

WHEREAS, the Board of Directors has examined, and deliberated on, the budget during meetings held on May 31 and June 18, 2007.

 

NOW, THEREFORE BE IT RESOLVED by the Board of Directors of the Monterey Peninsula as follows:

 

  1. That the said budget as approved at the June 18, 2007 Board of Directors Meeting is hereby approved and adopted as the budget for the Monterey Peninsula Water Management District for Fiscal Year 2007-08.

 

  1. That the General Manager may delegate the authority to implement this resolution to the Administrative Services Manager/Chief Financial Officer.

 

  1. That the General Manager is authorized and directed to transfer funds from one activity to another within a given fund, and from one Division to another Division, as such times are appropriate, in accordance with generally-accepted accounting principles and consistent with the objectives outlined in the approved budget.

 

  1. That the budget maintains a general operating reserve for economic uncertainties, which is not less than 5% of the budget.

 

  1. That any contract for professional services, or other expenditures for procuring equipment, supplies or services, included in the budget that exceeds $2,000 shall be executed by the General Manager only upon approval by the Board of Directors at a meeting of the Board of Directors.

 

On a motion by Director ________ and seconded by Director _________ the foregoing resolution is duly adopted this 18th day of June 2007 by the following votes:

 

            Ayes:              

            Nays:              

            Absent:           

 

            I, Arlene Tavani, Deputy Secretary to the Board of Directors of the Monterey Peninsula Water Management District, hereby certify that the foregoing is a resolution duly adopted on the 18th day of June 2007.

 

            Witness my hand and seal of the Board of Directors this __th day of June 2007.

 

                                                                        ___________________________________

                                                                        Arlene Tavani

                                                                        Deputy Secretary

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