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2023-24 BUDGET RESOLUTION
RESOLUTION NO. 23-31
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ACTION
recommendation
Authorize the appropriation of funds for the Amended 2022-23 Budget of $678,748,040 and the 2023-24 Budget of $743,392,815.
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PURPOSE
In order to maintain rigorous financial management, the Board of Directors annually adopts an amended budget for the current fiscal year and a new budget for the fiscal year starting October 1. The new annual budget provides funding authorization for all Operations, Administration and Debt Service requirements for the fiscal year starting October 1, 2023, to September 30, 2024.
RECOMMENDATION
Recommend the Board of Directors adopt Resolution No. 23-31, “A Resolution Approving Appropriations for the 2023-24 All Systems Annual Budget, Amending the 2022-23 Annual Budget and providing Rates and Charges for System Services of the North Texas Municipal Water District.”
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Strategic Objective: |
2.3 Rigorous Financial Management |
DRIVER(S) FOR THIS PROJECT
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☐ Regulatory Compliance |
☐ Asset Condition |
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☐ Capacity |
☐ Redundancy/Resiliency |
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☐ Relocation or External Requests |
☐ Operational Efficiency |
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☐ Safety |
☒ Administrative |
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☐ Policy |
☐ Other _____________ |
BACKGROUND
• The Annual All Systems Budget, rates, and charges information was reviewed with the Finance Committee in June and September 2023. In July 2023, the budget was reviewed in a Budget Work Session. The budget was presented to the full Board at the August 2023 Board Meeting.
• Attached is a copy of the proposed Budget Resolution No. 23-31, which is required by State Law and the District’s service contracts to appropriate funds for operations, maintenance and debt service and to establish rates and charges for the District’s operations.