Title
Resolution Adopting the FY 2022 & FY 2023 Biennial Budget
Body
Agenda of: February 24, 2021, March 10, 2021, March 24, 2021
Item No.: 2021-056
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: February 24, 2021
RE: Resolution Adopting the FY 2022 & FY 2023 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 2022 and FY 2023 Biennial Budget opened on February 24, 2021 and continued through March 24, 2021;
2) Pending public comment, adopts the attached resolution, 2021-056 adopting the FY 2022 and FY 2023 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 2022 and FY 2023 which was reviewed at Audit Committee meetings on December 18, 2020, January 15, 2021, and January 22, 2021; Board meetings of January 27, 20...
Click here for full text