ITEM:                 

PUBLIC HEARINGS

 

24.

CONSIDER ADOPTION OF PROPOSED FY 2007-2008 MPWMD BUDGET AND RESOLUTION 2007-11

 

Meeting Date:
June 18, 2007

Budgeted: 

N/A

 

From:

David A. Berger,

Program/

N/A

 

General Manager

Line Item No.:

 

Prepared By:

Rick Dickhaut

Cost Estimate:

N/A

 

General Counsel Approval:  N/A

Committee Recommendation:  N/A

CEQA Compliance:  N/A

 

SUMMARY:  At the May 31, 2007 budget workshop, staff presented the proposed budget for Fiscal Year 2007-08.  Staff also presented one item not reflected in the proposed budget.  That item, the addition of $18,000 to the Capital Assets line item for the installation of a window in the accountant’s office was discussed by the Board and has now been included in the latest version of the proposed budget.  After receiving staff’s presentation and responses to questions regarding the proposed 2007-08 budget, the Board requested no further changes to the proposed budget.  The latest version of the proposed 2007-08 budget is attached as Exhibit 24-A.  Proposed revenues and expenditures now total $8,522,500 and $8,685,300, respectively, resulting in a projected contribution to the general operating reserve of $162,800.  Resolution No. 2007-10, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Adopting the Budget for Fiscal Year 2007-08 is included as Page 1 of the budget document.

 

RECOMMENDATION:  District Staff recommends that the Board adopt Resolution No. 2007-11, A Resolution of the Board of Directors of the Monterey Peninsula Water Management District Adopting the Budget for Fiscal Year 2006-07.

 

BACKGROUND:  For several years prior to fiscal year 2005-06, District budgets had been balanced by using large amounts of previously accumulated reserves.  At the District’s strategic planning session on September 29, 2004, staff recommended that a balanced budget be prepared for fiscal year 2005-2006 using a combination of revenue and expenditure adjustments and a eliminating the use of reserve funds.  At the January 19, 2005 budget workshop, the Board adopted an eight-part strategy for balancing the 2005-06 budget.  The proposed Fiscal Year 2007-08 Budget was prepared consistent with that strategy, resulting in a balanced budget for the 3rd consecutive year.  At the May 31, 2007 budget workshop, staff presented the proposed budget for Fiscal Year 2007-08.  Staff also presented one addition to the proposed budget as discussed in the summary section of this report.

 

EXHIBITS

24-A    Fiscal Year 2007-08 Proposed Budget

 

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