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File #: 2019-084    Version: 1 Name:
Type: Resolution Status: Passed
File created: 2/25/2019 In control: Board of Directors Workshop Meeting
On agenda: 3/13/2019 Final action: 3/13/2019
Title: Resolution Adopting the FY 2020 & FY 2021 Biennial Budget as approved 3.13.2019
Sponsors: Nicolette Bateson
Indexes: Finance
Attachments: 1. Possible Budget Mods TFG 022519.pdf, 2. Budget Resolution with Two Alternatives 2.27.2019.pdf, 3. 1B Budget Resolution 022719 as Proposed (004), 4. Budget Resolution as approved 3.13.2019.pdf
Title
Resolution Adopting the FY 2020 & FY 2021 Biennial Budget as approved 3.13.2019
Body

Agenda of: March 13, 2019
Item No.: 2019-084
Amount: N/A

TO: The Honorable
Board of Directors
Great Lakes Water Authority

FROM: Sue F. McCormick
Chief Executive Officer
Great Lakes Water Authority

DATE: March 13, 2019


RE: Resolution Adopting the FY 2020 & FY 2021 Biennial Budget as approved 3.13.2019


MOTION

Upon recommendation of Nicolette Bateson, Chief Financial Officer/Treasurer, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA); concludes the Public Hearing related to the FY 2020 and FY 2021 Biennial Budget held on February 27, 2019, and held open through March 13, 2019, pending public comment,
1) Adopts the attached resolution, 2019-084 adopting the FY 2020 and 2021 Biennial Budget for the GLWA as presented which reflects the following revisions from the original proposed budget presented on January 23, 2019:
a) reduce the Operations & Maintenance Expense by $5 million ($2 million Water and $3 Million Sewer) with a corresponding reduction in the total revenue requirement; and
b) reverse the impact of the proposed alternative GLWA facilities arrangement to allow for the arbitration course to take place which is anticipated to be completed within the next 60 days;

2) 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

3) Authorizes the Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote. and authorizes the CEO 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 betw...

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