BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Resolutions Adopting the Fiscal Year 2021-22 Operating and Capital Budget and Levy of Ad-Valorem Property Taxes, Authorizing the Transfer of Funds From Special Purpose Funds and Making Certain Determinations in Connection Therewith, in a Not to Exceed Amount of $25 Million in FY 2021-22 to Fund Supplemental Water Purchases; and Approval of Santa Clara Valley Water District Reserve Policy.
End
RECOMMENDATION:
Recommendation
A. Discuss and adopt a Resolution APPROVING AND ADOPTING THE OPERATING AND CAPITAL BUDGET FOR FISCAL YEAR 2021-2022;
B. Discuss and adopt a Resolution PROVIDING FOR LEVY OF AD VALOREM REAL PROPERTY TAXES IN FISCAL YEAR 2021-22 TO MEET THE COST OF ITS WATER SUPPLY CONTRACT WITH THE STATE OF CALIFORNIA;
C. Adopt Resolution AUTHORIZING THE TRANSFER OF FUNDS FROM SPECIAL PURPOSE FUNDS AND MAKING CERTAIN DETERMINATIONS IN CONNECTION THEREWITH, in a not to exceed amount of $25 million in Fiscal Year 2021-22 to fund supplemental water purchases; and
D. Approve the Santa Clara Valley Water District (Valley Water) Reserve Policy.
Body
SUMMARY:
In accordance with the District Act, Section 20. Adoption of Budget, after conclusion of the public meeting(s) to hear comments from the general 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 2021-22 (FY22) budget process, staff provided numerous budget development updates for the Board and the public. The FY 2021-22 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 Operating and Capital Budget for Fiscal Year 2021-22. A copy of the resolution will be included in a supplemental agenda memo on M...
Click here for full text