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File #: 2020-082    Version: 1 Name:
Type: Resolution Status: Passed
File created: 2/21/2020 In control: Board of Directors Workshop Meeting
On agenda: 3/11/2020 Final action: 3/11/2020
Title: Resolution Adopting the FY 2021 & FY 2022 Biennial Budget
Sponsors: Nicolette Bateson
Indexes: Finance
Attachments: 1. 2020-082 FY 2021 & FY 2022 Biennial Budget Resolution
Title
Resolution Adopting the FY 2021 & FY 2022 Biennial Budget

Body
Agenda of: February 26, 2020, March 11, 2020
Item No.: 2020-082
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 11, 2020


RE: Resolution Adopting the FY 2021 & FY 2022 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 2021 and FY 2022 Biennial Budget held on February 26, 2020, and held open through March 11, 2020;
2) Pending public comment, adopts the attached resolution, 2020-082 adopting the FY 2021 and FY 2022 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 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 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 2021 and FY 2022 which was reviewed at Audit Committee meetings on December 19, 2019, January 27, 2020, and February 21, 2020; Board meetings of January 8, 2020, January 22, 202...

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