HomeMy WebLinkAbout03.a. Updated Change Log (Handout)Attachment 3
FY 2023-24 BUDGET REVISION LOG
As of May 9, 2023
(Handout)
This log includes substantive edits made to the FY 2023-24 Budget Book distributed to the Board on May 4, 2023 and summarized in the 5/9/23 Finance Committee Presentation.
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Section
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Table/Paragraph
Description of Change
Increase FY 23-24 CIB total spend by $300,000 to $71,202,000 and update total appropriations and budget
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Financial Summary
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Table 1b
to budget variances ($ and %) accordingly.
The Sewer Construction fund budget is $70.9-71.2 million, a decrease of $20.119.8 million (22.121.7%)
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Financial Summary
47
2nd paragraph, 2nd
from the prior year budget of $91.0 million. Lastly, decrease Contribution to Reserves accordingly by same
bullet
amount and update variances column.
Replace figure 1 with new chart reflecting $300,000 increase to sewer construction sources and decrease
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Financial Summary
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Figure 1
to contribution to reserves.
Due to increase in treatment plant program spend by $300,000, reduce FY 23-24 CIB contribution to
reserve to $21,924,163 and total funding sources to $71,202,000. Update total column to reflect these
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Financial Summary
51
Table 2a
changes, decreasing grand total contribution to reserves to $20,557,487 and total funding sources to
$173,468,813. Lastly, update footnote below table to reflect new total contribution to reserves.
Updated pie chart to reflect $300,000 increase in sewer construction spend and corresponding decrease in
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Financial Summary
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Figure 3
contribution to reserves.
The uses of funds (expenditures and contributions to reserves) for FY 2023-24 are shown in Figure 3. Two
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Financial Summary
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2nd paragraph
expenditure categories, 0&M and Sewer Construction, account for 83 41% 83.6% of the total uses. In FY
2023-24, contribution to reserves comprises 40.7% 10.6% of the total use of funds.
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Financial Summary
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2nd paragraph
Delete second sentence
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FY 2023-24 BUDGET REVISION LOG
As of May 9, 2023
This log includes substantive edits made to the FY 2023-24 Budget Book distributed to the Board on May 4, 2023 and summarized in the 5/9/23 Finance Committee Presentation.
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Section
Page #
Table/Paragraph
Description of Change
The 9 $71.2 million capital improvement budget does not include anticipated carryforward from FY
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Financial Summary
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3rd paragraph
2022-23, which will be communicated to the Board after the close of the current fiscal year. The FY
2023-24 capital budget, excluding carryforward, is decreasing by $20.1 $19.8 million (2ram (21.7%) from
the prior year budget of $91.0 million.
Central San is projected to contribute $22.2 $21.9 million to capital reserves in FY 2023-24 with revenues
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Financial Summary
73
4th paragraph
and debt proceeds exceeding expenditures by that amount.
FY 23-24 budgeted treatment plant program expenditures increase by $300,000 to a revised total of
$31,300,000 to reflect change done in CIP section of budget after finalization of Financial Summary section.
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Financial Summary
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Table 13
Updated $ and % variances for treatment plant program accordingly. Other impacted areas of this table
that are updated accordingly include FY 2023-24 CIB spend (increased to $71,202,000), updating total $
and % variances accordingly, reducing Contribution to Reserves to $21,924,163, and increasing Cash
Funded expenditures to $57,202,000.
The Sewer Construction fund is projected to close FY 2023-24 with a working capital reserve of $85.5 $85.2
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Financial Summary
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2nd bullet
million, exceeding minimum working capital reserves by $37-7 $37.4 million.
Reduce Sewer Construction Fund reserves as of 6/30/24 by $300,000 and update change year over year $
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Financial Summary
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Table 14
and % accordingly. Also reduce Amount Over/(Under) Minimum Reserve Target at 6/30/24 by $300,000.
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