BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Fiscal Year 2019-20 Overview of the Santa Clara Valley Water District Financial Planning Process and Board Work Plan Funding Priorities.
End
RECOMMENDATION:
Recommendation
Receive and discuss the Fiscal Year 2019-20 overview of the District's Financial Planning Process and confirm Board Work Plan funding priorities.
Body
SUMMARY:
The District develops the annual budget and five-year capital improvement program to allocate public funds necessary to provide Silicon Valley with safe, clean water for a healthy life, environment and economy. The development of the budget and capital improvement program are accomplished in an open and transparent process, under the guidance of the Board, providing opportunity for public input. This report describes the financial planning process and seeks to confirm the 2019-20 funding priorities based on the adopted Board Work Plan.
In concert with the discussion of the financial planning process, staff is providing a follow up to the Board's direction to provide a review of biennial budgeting. Staff completed this review and the attached memo documents the analysis. Based on that review and because the District is about to embark on the ERP project which will require resources across the District dedicated to this effort, staff is not recommending a change in the current annual budget adoption process. In addition to resource constraints, the cost of current budgeting software enhancements to implement biennial budgeting and the potential to move to a new budgeting software module as part of the ERP implementation, makes delaying a decision to change to biennial budgeting a more fiscally prudent recommendation at this time. Staff would like to re-address this recommendation to the Board once the ERP implementation is completed and will work with the vendor during implementation to build the option for biennial budgeting if the District does decide to move to the new budgeting softwar...
Click here for full text