TO: Board of Directors
FROM: Steven Lederer - Manager, UVWMA
REPORT BY: Kat Chambers - Staff Services Analyst II, UVWMA
SUBJECT: PUBLIC HEARING: Adoption of 2025/2026 Budget
RECOMMENDATION
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PUBLIC HEARING: APPROVAL OF THE 2025/2026 FISCAL YEAR BUDGET
REQUESTED ACTION: Staff requests approval and adoption of Agency Resolution No. 25-02 adopting the proposed final budget for fiscal year 2025/2026.
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BACKGROUND
Attached please find the proposed fiscal year 2025/2026 budget for Board approval.
Summary of proposed Budget:
Revenue: Operational revenue for the Agency's programs is primarily provided through the UVDS Franchise Agreement, whereby the Company provides the Agency funds equivalent to 3% of their gross revenue. This is expected to result in approximately $560,000 of revenue in Fiscal Year 2024/2025, which would slightly exceed the adopted budget amount. This is attributed to the company's rate increase (and our funding is tied to their gross revenues). I am budgeting $560,000 in revenue for FY 2025/2026. The budget also assumes the usual $25,000 CalRecycle grant for recycling programs. As for the SB 1383 grant in the amount of $300,000 in deferred revenue, we expect to spend $30,216 during FY 2024/2025, and spend the remaining $269,784 in FY 2025/2026.
Expenses: Budgeted expenses are similar to last year's adjusted budget, and also include appropriations to spend $269,714 of the $300,000 SB 1383 Grant (which includes purchase of compost to meet SB 1383 procurement requirements for all the UVA members), $300,000 in available community grants, and $30,000 for previously awarded non-profit food recovery grants. When compared to last fiscal year, the largest variance in expenditure accounts include Consulting Services, Insurance - Liability, Printing and Binding, and Special Departmental Expenses, which are directly related to spending down grant funding.
All of our existing programs remain.
Fund Balance: The Agency will commence the 2025/20...
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