TO: Members of the Governing Board
FROM: Christopher Silke - District Engineer
REPORT BY: Sarah Geiss - Staff Services Analyst II
SUBJECT: FY 2023-2024 Mid-Year Budget Review
RECOMMENDATION
title
Approve a Budget Amendment to increase appropriations in the District operations budget in the amount of $250,000 offset by its available fund balance to cover the cost of continued operations and maintenance expenses through the end of the fiscal year (Fiscal Impact: $250,000, Napa Berryessa Resort Improvement District Operations Fund, Not Budgeted; Mandatory)
[4/5 vote required]
body
BACKGROUND
District staff continuously monitors the operations and capital budgets throughout each fiscal year. A part of this continuous review is the submittal of the six-month budget projections to fiscal staff, and a recommendation for additional funds needed to allow the District to operate through the end of the fiscal year.
The six-month review of the operations budget shows that expenditures will exceed approved appropriations by the end of the fiscal year. Since the adoption of the operating budget in June 2023, several unexpected equipment and pipe failures in the water and sewer systems required additional operations contractor oversight and maintenance and repair expenses above and beyond budgeted amounts to maintain uninterrupted operations of the water and sewer systems.
While District staff includes budget for a variety of unexpected repairs each year, the actual and projected costs
of these repairs in the current fiscal year exceeded the estimated values adopted by the Board during the budget
hearings and a budget transfer from available fund balance in the amount of $250,000 is needed to allow the District to continue paying invoices through the end of the fiscal year.
Should the requested mid-year budget amendment be approved, the estimated remaining fund balance for the end of the current fiscal year is approximately $300,000. District staff will return to the Bo...
Click here for full text