Regional Water System
Regional Water System
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Water System Variable Cost Rebates for Fiscal Year 2023-24
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SUBJECT
recommendation
Authorize the rebate of funds in the amount of $14,205,079.46 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. Staff reviewed the preliminary FY 2023-24 Water System Rebates with the Board of Directors on October 24, 2024, and recommended placing the rebates for consideration by the Board of Directors at the November 2024 Board meeting.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors authorize Water System Rebates for Fiscal Year (FY) 2023-24 in the amount of $14,205,079.46 per the attached schedule.
DRIVER(S) FOR THIS PROJECT
Strategic Objective:
2.3 Rigorous Financial Management
? 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 NTMWD staff to annually provide the Board of Directors a schedule of Water System Variable Costs Rebates as a discussion item in October. After considering the financial condition of t 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, to state that the funds to be considered for rebate shall be calculated as the difference between the budgeted fiscal ye...
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