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Regional Water System
Water System Variable Cost Rebates for Fiscal Year 2022-23
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ACTION
recommendation
Rebate monies paid by applicable Member Cities and Customers per the District's Water Variable Cost Rebate Policy, Section 6 of the Finance Policies Manual.
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PURPOSE
If authorized by the Board of Directors, the rebate shall be allocated amongst all eligible Member Cities and Customers based upon each Member City or Customer's proportionate share of the total volume eligible for rebate.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors authorize Water System Rebates for Fiscal Year (FY) 2022-23 in the amount of $12,297,498.95 per the attached schedule.
Staff reviewed the preliminary FY 2022-23 Water System Rebates with the Board of Directors on October 26, 2023, and recommended placing the rebates for consideration by the Board of Directors at the November 2023 Board meeting.
Strategic Objective: 2.3 Rigorous Financial Management
DRIVER(S) FOR THIS PROJECT
? Regulatory Compliance
? Asset Condition
? Capacity
? Redundancy/Resiliency
? Relocation or External Requests
? Operational Efficiency
? Safety
? Administrative
? Policy
? Other _____________
BACKGROUND
* Section 6 of the Finance Policies Manual, Water Variable Cost Rebate Policy, requires the NTMWD staff to provide the Board of Directors a schedule of Water System Variable Costs Rebates on an annual basis as a discussion item in October of each year and that after considering the financial condition of the NTMWD, the Board of Directors shall either instruct the Executive Director to place the rebates on the November agenda for consideration, or accept the report as information only.
* The policy regarding Water System rebates was adopted in 1993. The policy was updated in August 2022 stating that the funds to be considered for rebate shall be calculated as the difference between the budgeted fiscal year variable costs and the correspondi...
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