BOARD AGENDA MEMORANDUM
Government Code ? 84308 Applies: Yes ? No ?
(If "YES" Complete Attachment A - Gov. Code ? 84308)
SUBJECT:
Title
Adopt Resolutions Approving and Adopting the Fiscal Year 2025-26 Operating and Capital Rolling Biennial Budget and Providing for Levy of Ad-Valorem Property Taxes; and Approve the Santa Clara Valley Water District Reserve Policy. (*Previously Listed as Item 3.6)
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RECOMMENDATION:
Recommendation
A. Adopt the Resolution APPROVING AND ADOPTING THE OPERATING AND CAPITAL ROLLING BIENNIAL BUDGET FOR FISCAL YEAR 2025-2026;
B. Adopt the Resolution PROVIDING FOR A LEVY OF AD VALOREM REAL PROPERTY TAXES IN FISCAL YEAR 2025-26 TO MEET THE COST OF ITS WATER SUPPLY CONTRACT WITH THE STATE OF CALIFORNIA;
C. Approve the second fiscal year of the rolling biennial budget, referred to as the Fiscal Year 2026-27 Plan; and
D. Approve the Santa Clara Valley Water District Reserve Policy.
Body
SUMMARY:
In accordance with the District Act, Section 20, adoption of the Budget, after conclusion of the public meeting(s) to hear comments from the public on the proposed budget, the Board shall by Resolution adopt the budget as finally determined including any revisions that the Board determines advisable during or after the meeting(s) and no later than June 30 of each year.
Throughout the Fiscal Year 2025-26 (FY26) budget process, staff provided numerous budget development updates for the Board and the public. The FY26 budget proposal is consistent with the Board's direction given to staff at those meetings. Therefore, staff recommends Board approval of the Resolution Approving and Adopting the Santa Clara Valley Water District (Valley Water) Operating and Capital Budget for Fiscal Year 2025-26 (Attachment 1).
Staff has made minor modifications to the Fiscal Year 2025-26 Proposed Operating and Capital Rolling Biennial Budget relative to the version reviewed by the Board at the April 23 budget work study session, which have been incorpor...
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