Board Approves Supplemental Appropriations
The Board approved the 2017 Supplemental Appropriation Request for June which represents staff’s conservative and prudent estimates for providing ongoing, quality services to customers for 2017.Revenues
: The Supplemental Appropriation includes total revenues (inclusive of interfund transfers) amounting to $65.8 million, an increase of $10.4 million over the 2017 Adopted Budget. Accounting for the majority of this increase are debt proceeds related to the March Water Fund debt refunding, development-related taxes and fees, sales tax and grants.Expenditures
: The Supplemental Appropriation includes expenditures amounting to $87.0 million in all funds (of which $49.5 million are for capital expenditures). This represents an increase of $35.8 million in expenditures over the 2017 Adopted Budget, of which only $0.2 million are new requests. The majority of increases represent rollovers totaling $29.8 million from the 2016 budget for projects not completed at the end of 2016. In addition, there are $5.8 million in additions to the 2017 budget for expenditures already approved by the Board (primarily related to the March Water Fund bond refunding).
BACKGROUND: At least twice yearly, staff reviews the adopted budget and year-to-date actual revenues and expenditures. Based on these reviews, staff requests supplemental appropriations to update the budget to reflect actual revenues and expenditures of the prior and current year, year-to-date Board of Trustee actions, and projected revenues and expenditures for the remaining fiscal year.
View the 2017 Supplemental Appropriation #1 here