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File #: 2022-071    Version: 1 Name:
Type: Resolution Status: Passed
File created: 2/18/2022 In control: Board of Directors
On agenda: 2/23/2022 Final action: 2/23/2022
Title: Resolution Adopting the FY 2023 & FY 2024 Biennial Budget
Sponsors: Nicolette Bateson
Indexes: Finance
Attachments: 1. B2 2022-021 Resolution.Legistar-Budget with support, 2. B3 Board Presentation Executive Summary 022322, 3. B4 Proposed Budget One pager 2.23.2022, 4. B5 Bad Debt Expense One Pager 1.19.2022, 5. B6 FY 2023 Charges One Pager Proposed 2.23.2022

Resolution Adopting the FY 2023 & FY 2024 Biennial Budget

Agenda of: February 23, 2022
Item No.: 2022-071
Amount: N/A

TO: The Honorable
Board of Directors
Great Lakes Water Authority

FROM: Suzanne R. Coffey, P.E.
Interim Chief Executive Officer
Great Lakes Water Authority

DATE: February 23, 2022

RE: Resolution Adopting the FY 2023 & FY 2024 Biennial Budget


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 2023 and FY 2024 Biennial Budget held on February 23, 2022;
2) Pending public comment, adopts the attached resolution, 2022-021, adopting the FY 2023 and FY 2024 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 Interim Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote.

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.
The Board has received a proposed Budget for FY 2023 and FY 2024 which was reviewed at Audit Committee meetings on December 17, 2021, January 21, 2022, and February 11, 2022; Board meetings of January 26, 2022 and February 23, 2022; and Member Partner meetings on January 6, 2022, as it relates to the proposed Schedule of Charges, and January 20, 2022.

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