SUBJECT
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Adopt Resolution 2024-23 for the Final Polk Regional Water Cooperative Administrative Budget - FY2025 (Action Item)
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DESCRIPTION
The fiscal year (FY) 2025 Final Administrative Budget for the PRWC is presented for the Board’s consideration and approval. This budget is related to the operations of the PRWC which includes staff, outside support, legal, financial, and office incidentals.
This proposed budget consists of member government annual contributions of $346,516. This is an increase of $111,516 from Fiscal Year 2024. Since the member government contributions are greater than $200,000, the budget must be approved by a majority vote of a seventy-five percent (75%) vote of a quorum of the Board of Directors (BOD) using the weighted vote method. A quorum is defined as a majority of voting directors currently comprising the BOD, and the weighted vote method being defined as a procedure by which each Director is assigned one vote for each full 100,000 gallons a day annual average (water delivered by its Member Government for public supply) based on a five-year rolling average.
Included with this agenda item is Resolution 2024-23 which memorializes the Regular Board of Directors action of approving the FY2025 Administrative Budget. Exhibit A to the resolution reflects the Administrative Budget expenditures and revenues (the cost to each member).
RECOMMENDATION
Approve Resolution 2024-23 for the FY2025 PRWC Administrative Budget.
FISCAL IMPACT
With approval of this item the PRWC will collect funds from member governments for the PRWC Administrative Budget as referenced in Exhibit A of Resolution 2024-23.
CONTACT INFORMATION
Eric DeHaven