BOARD AGENDA MEMORANDUM
Government Code Section 84308 Applies: Yes ? No ?
(If "YES" Complete Attachment A)
SUBJECT:
Title
Receive and Discuss the Overview of the Santa Clara Valley Water District's Fiscal Year 2023-24 First Pass Biennial Budget.
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RECOMMENDATION:Recommendation
Receive and discuss the overview of the Santa Clara Valley Water District's Fiscal Year 2023-24 First Pass Biennial Budget.
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SUMMARY:
The Santa Clara Valley Water District (Valley Water) develops the rolling biennial budget to allocate the public's funds that are necessary to provide Silicon Valley with safe, clean water for a healthy life, environment, and economy. The development of Valley Water's budget is accomplished in an open transparent process providing opportunity for Board and public input. This report presents the first pass budget update and schedule for development of the final Fiscal Year (FY) 2023-24 Biennial Budget. The process includes over nine (9) open session discussions, and the online budget simulation tool, providing the Board and public significant opportunity for input. In addition to the Board open sessions, Board Advisory committees have opportunities for input during the development of the Budget. The Board has scheduled Budget work study sessions on April 26 and 27. The process is scheduled to conclude with the adoption of the budget on May 9, 2023.
Valley Water's financial planning and budget development 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.
ENVIRONMENTAL JUSTICE IMPACT:
Valley Water acknowledges that disadvantaged communities have historically been disproportionately impacted by the effects of drought or flooding and currently provides the Low-Income Water Rate A...
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