File #: 22-0638    Version: 1 Name:
Type: Time Certain Item Status: Agenda Ready
File created: 4/29/2022 In control: Board of Directors
On agenda: 5/10/2022 Final action:
Title: Resolutions Approving and Adopting the Fiscal Year 2022-23 Operating and Capital Budget, Providing for Levy of Ad-Valorem Property Taxes, and Authorizing the Transfer of Funds from Special Purpose Funds and Making Certain Determinations in Connection Therewith, in a Not to Exceed Amount of $23 Million in FY 2022-23 to Fund Emergency Water Purchases and Drought Related Expenses; and, Approval of Santa Clara Valley Water District Reserve Policy. *PREVIOUSLY LISTED AS ITEM 2.11
Attachments: 1. *Original Agenda Memo, 2. *Original Attachment 1: Handout 2.6-A: Dr. J. Michael, 3. *Supplemental Agenda Memo, 4. *Supplemental Attachment 1: Resolution, Budget, 5. *Supplemental Attachment 2: Resolution, Ad Valorem Property Taxes, 6. *Supplemental Attachment 3: Valley Water Reserve Policy, 7. *Supplemental Attachment 4: Transmittal Letter, 8. *Supplemental Attachment 5: Resolution, Transferring Funds
BOARD AGENDA MEMORANDUM


SUBJECT:Title
Resolutions Approving and Adopting the Fiscal Year 2022-23 Operating and Capital Budget, Providing for Levy of Ad-Valorem Property Taxes, and Authorizing the Transfer of Funds from Special Purpose Funds and Making Certain Determinations in Connection Therewith, in a Not to Exceed Amount of $23 Million in FY 2022-23 to Fund Emergency Water Purchases and Drought Related Expenses; and, Approval of Santa Clara Valley Water District Reserve Policy.
*PREVIOUSLY LISTED AS ITEM 2.11


End
RECOMMENDATION:Recommendation
A. Discuss and adopt the Resolution APPROVING AND ADOPTING THE OPERATING AND CAPITAL BUDGET FOR FISCAL YEAR 2022-2023;
B. Discuss and adopt the Resolution PROVIDING FOR LEVY OF AD VALOREM REAL PROPERTY TAXES IN FISCAL YEAR 2022-23 TO MEET THE COST OF ITS WATER SUPPLY CONTRACT WITH THE STATE OF CALIFORNIA;
C. Discuss and adopt the Resolution AUTHORIZING THE TRANSFER OF FUNDS FROM SPECIAL PURPOSE FUNDS AND MAKING CERTAIN DETERMINATIONS IN CONNECTION THEREWITH, in a not to exceed amount of $23 million in Fiscal Year 2022-23 to fund emergency water purchases and drought related expenses; 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 2022-23 (FY23) budget process, staff provided numerous budget development updates for the Board and the public. The FY23 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 Ope...

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