FROM: Robert Thompson, General Manager
Originator: Wally Ritchie, Director of Finance
SUBJECT:
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PROPOSED FISCAL YEAR 2024-25 AND FISCAL YEAR 2025-26 BUDGET
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GENERAL MANAGER'S RECOMMENDATION
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RECOMMENDATION:
Approve the proposed Operating, Capital, Debt Service, and Self-Insurance Budgets for FY 2024-25 and FY 2025-26 as follows:
FY 2024-25 FY 2025-26
Net Operating $232,674,493 $239,114,716
Self-Insurance - Workers' Comp. 1,124,029 1,182,835
Self-Insurance - Property & Gen. Liability 4,402,500 4,767,000
Net Capital Improvement Program 223,075,113 279,436,128
Debt/COP Service 61,027,421 60,431,104
Intra-District Joint Equity Purchase/Sale (1) 3,500,000 3,500,000
Total $525,803,556 $588,431,783
(1) Cash to/from Revenue Area 14 (RA14) in exchange for capital assets to/from Consolidated Revenue Area 15 (RA15)
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BACKGROUND
The FY 2024-25 and FY 2025-26 Proposed Budget is included for the Committee's consideration. The Budget has been presented to the Operations Committee at the regular June meeting in order to allow each Standing Committee an opportunity to review the proposal prior to the June Board meeting. Although each Committee has had an opportunity to review the proposal, it remains the responsibility of the Administration Committee to recommend approval. The Administration Committee is requested to recommend that the Board of Directors approve this budget at the June 26, 2024 Board of Directors meeting.
RELEVANT STANDARDS
* Ensure the public's money is wisely spent
* Produce appropriate financial reporting - Operating and CIP bu...
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