FROM: James D. Herberg, General Manager
Originator: Lorenzo Tyner, Assistant General Manager
SUBJECT:
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PROPOSED FY 2020-21 AND FY 2021-22 BUDGET
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GENERAL MANAGER'S RECOMMENDATION
recommendation
RECOMMENDATION: Recommend to the Board of Directors to:
Approve the proposed Operating, Capital, Debt Service, and Self-Insurance Budgets for FY 2020-21 and FY 2021-22 as follows:
FY 2020-21
FY 2021-22
Net Operating
$ 173,910,516
$ 174,065,159
Self-Insurance - Workers' Comp
$ 780,000
$ 800,000
Self-Insurance - Property & Gen. Liability
$ 1,630,000
$ 1,680,000
Net Capital Improvement Program
$ 147,562,000
$ 240,846,000
Debt/COP Service(1)
$ 72,838,369
$ 240,591,869
Intra-District Joint Equity Purchase/Sale(2)
$ 3,500,000
$ 3,500,000
Total
$ 400,220,885
$ 661,483,028
PP(1)PPIncludes $173,855,000 in maturing and callable debt
(2)PPCash 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 2020-21 and FY 2021-22 Proposed Budget is enclosed 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 24, 2020 Board meeting.
RELEVANT STANDARDS
* Produce Operating and CIP budgets every two years, with annual update
PROBLEM
The Orange County Sanitation District (Sanitation District) cannot maintain and monitor its financial condition, operations, and future capital improvem...
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