SUBJECT
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Adopt Resolution 2024-26 for the Final Southeast Wellfield Project Budget (Action)
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DESCRIPTION
Per the requirements of the Interlocal Agreement Creating the Cooperative entered into on June 1, 2016, the Cooperative shall submit a budget of the Water Project Costs with a copy of the tentative budget no later than 30 days before the budget hearing. The draft Southeast Wellfield Project Budget was presented to the Board of Directors for review and consideration at the July 2024 BOD meeting.
This agenda item approves the final budget related to the project work being completed through the Implementation Agreement for the Southeast Wellfield dated April 2021 for the design and construction of the Southeast Wellfield (SE) Water Production Facility (WPF) and Transmission Mains (TM). This item recaps expenditures on previous FY budgets and includes budgets for FY 2025 for the Board’s information, review and comment (Exhibit A of Resolution 2024-26).
Exhibit B of Resolution 2024-26 is the Water Charge consisting of a Base Rate charge for FY2025. Project Participants shall be obligated to pay these charges in one lump sum payment or in twelve equal monthly payments during each calendar month starting in October 2024 and ending on September 2025. Estimates of these charges were provided to the BOD at the May 2024 BOD meeting for budgeting purposes.
If approved, this budget will be memorialized by Resolution per the Interlocal Agreement Creating the Cooperative.
RECOMMENDATION
Staff recommends approval to adopt Resolution 2024-26 - Final Southeast Wellfield Project Budget for FY 2025.
FISCAL IMPACT
Approval of this budget at the September Board of Directors meeting will authorize PRWC staff to collect revenue and expend funds in accordance with the budget.
CONTACT INFORMATION
Katie Gierok
Eric DeHaven