BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Planning for Fiscal Year 2020-21 Budget Process.
End
RECOMMENDATION:
Recommendation
Receive and discuss the Fiscal Year 2020-21 budget process overview.
Body
SUMMARY:
Valley Water 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 operating 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 presentation describes the financial planning process proposed for Fiscal Year 2020-21.
Valley Water’s financial processes are governed by the District Act, Section 13 for taxation and Section 20 for adoption of the budget. In addition, state and federal laws require annual examinations of financial records. Board Governance Policies EL-4 guide financial management, planning, budgeting and ongoing financial activities. The Valley Water's financial processes comply with all applicable laws, regulations and policies.
FINANCIAL IMPACT:
There is no financial impact related to this agenda. It is presented for information only.
CEQA:
The recommended action does not constitute a project under CEQA because it does not have a potential for resulting in direct or reasonably, foreseeable indirect physical changes in the environment.
ATTACHMENTS:
Attachment 1: PowerPoint
UNCLASSIFIED MANAGER:
Manager
Darin Taylor, 408-630-3068