FROM: James D. Herberg, General Manager
Originator: Lorenzo Tyner, Assistant General Manager
SUBJECT:
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PROPOSED FY 2021-22 BUDGET UPDATE
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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 2021-22 as follows:
FY 2021-22
Net Operating
$ 183,950,874
Self-Insurance - Workers' Comp.
$ 841,860
Self-Insurance - Property & Gen. Liability
$ 2,609,393
Net Capital Improvement Program
$ 224,560,503
Debt/COP Service(1)
$ 234,506,355
Intra-District Joint Equity Purchase/Sale(2)
$ 3,500,000
TOTAL
$ 649,968,985
PP(1)PPIncludes $163,775,355 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 2021-22 Proposed Budget Update is included for the Committee's consideration. The Budget Update 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 23, 2021 Board of Directors meeting.
RELEVANT STANDARDS
* Produce Operating and CIP budgets every two years, with annual update
PROBLEM
The Orange County Sanitation District (OC San) cannot maintain and monitor its financial condition, operations, and future capital improvements without examination and transparency into its resources, revenues, reserves, and outlays.
PROPOSED SOLUTION
Providing the Board of Directors with an understanding of OC San's resources will assist in the approval of the proposed budget update.
TIMING CONCERNS
The p...
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