SUBJECT
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Adopt Resolution 2024-25 for the Final Combined Projects Budget - FY2025 (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 Combined Projects Budget was submitted to the Board of Directors for information at the July 2024 BOD meeting.
This agenda item approves the final budget related to the project work being completed under the Phase 1 Combined Projects’ Implementation project, which now includes the completed work on the SE Test Production Well #3 (TPW #3) and the in-progress work at the West Polk Test Production Well #2 (TPW#2). In January 2023 the remaining contracted work for the Southeast Wellfield, West Polk LFA, Peace Creek Integrated Water Supply Plan and the Peace River and Land Use Transitions portions of the Phase 1 Combined Projects was completed. This item recaps expenditures on previous FY budgets and includes budgets for FY 2025 (Exhibit A of Resolution 2024-25).
Exhibit B of Resolution 2024-25 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 2023 and ending on September 2024.
If approved, this budget will be memorialized by Resolution per the Interlocal Agreement creating the PRWC.
RECOMMENDATION
Staff recommend approval of Resolution 2024-25 for the Final Combined Projects Budget - FY2025
FISCAL IMPACT
Approval of this budget at the September 2024 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