Title
Resolution Adopting the FY 2024 & FY 2025 Biennial Budget
Body
Agenda of: February 22, 2023
Item No.: 2023-054
Amount: N/A
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Suzanne R. Coffey P.E.
Chief Executive Officer
Great Lakes Water Authority
DATE: February 22, 2023
RE: Resolution Adopting the FY 2024 & FY 2025 Biennial Budget
MOTION
Upon recommendation of Nicolette Bateson, Chief Financial Officer/Treasurer, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA):
1) Concludes the Public Hearing related to the FY 2024 and FY 2025 Biennial Budget held on February 22, 2023;
2) Pending public comment, adopts the attached resolution, 2023-054, adopting the FY 2024 and FY 2025 Biennial Budget for the GLWA;
3) Notes that the GLWA By-Laws Article X, Section 5, requires a super-majority affirmative vote of at least five (5) members of the Board is necessary for the approval of the operating budget; and
4) Authorizes the Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
The Great Lakes Water Authority ("GLWA" or the "Authority") assumed the operation of the Regional Water and Sewer systems on January 1, 2016 (the "Effective Date") pursuant to the Lease Agreements between the GLWA and the City of Detroit dated June 12, 2015. Section 5.6 of the Lease Agreements require the Authority to adopt a two-year budget for the Regional Water and Sewer Systems that sets forth budgeted revenues and expenses for each such Fiscal Year.
JUSTIFICATION
The Board has received a proposed Budget for FY 2024 and FY 2025 which was reviewed at Audit Committee meetings on December 16, 2022 and February 13, 2023; Board meetings of January 25, 2023 and February 22, 2023; and Member Partner meetings on January 12, 2023, as it relates to the proposed Schedule of Charges, and January 19, 2023.
The information contained in the atta...
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