FROM: James D. Herberg, General Manager
Originator: Lorenzo Tyner, Assistant General Manager
SUBJECT:
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PROPOSED FY 2022-23 AND FY 2023-24 BUDGET
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GENERAL MANAGER'S RECOMMENDATION
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RECOMMENDATION: Recommend to the Board of Directors to:
Approve the proposed Operating, Capital, Debt Service, and Self-Insurance Budgets for FY 2022-23 and FY 2023-24 as follows:
FY 2022-23 FY 2023-24
Net Operating $ 201,144,702 $ 209,891,777
Self-Insurance - Workers' Comp. $ 790,000 $ 810,000
Self-Insurance - Property & Gen. Liability $ 2,900,000 $ 3,040,000
Net Capital Improvement Program $ 268,167,501 $ 315,307,637
Debt/COP Service $ 68,568,134 $ 68,611,384
Intra-District Joint Equity Purchase/Sale(1) $ 3,500,000 $ 3,500,000
TOTAL $ 545,070,337 $ 601,160,798PP
(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 2022-23 and FY 2023-24 Proposed Budget is included for the Committee's consideration. Staff has presented the Administration Committee with information on the development of the Proposed Budget at its February, March, April, and May 2022 meetings. The Proposed Budget was also 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 ...
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