Title
Resolution to Approve the FY 2023 First Quarter Budget Amendments
Body
Agenda of: October 26, 2022
Item No.: 2022-414
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: September 28, 2022
RE: Resolution to Approve the FY 2023 First Quarter Budget
Amendments
MOTION
Upon recommendation of Nicolette Bateson, Chief Financial Officer/Treasurer, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA), approves the FY 2023 First Quarter Budget Amendments as presented; and authorizes the Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
The founding legal documents for the Great Lakes Water Authority (GLWA) provide a structure for budget preparation, adoption, and amendment. The Board of Directors adopts a biennial budget by resolution which specifies appropriation amounts which may be modified through budget amendments. To the extent that there is a proposed amendment of the budget among the appropriation categories, the matter is brought to the Audit Committee for review and consideration of a recommendation to the Board of Directors for their consideration for approval.
JUSTIFICATION
Attached is the communication to the Audit Committee, dated September 23, 2022, which presents the proposed budget amendments for the first quarter of FY 2023. The reports included in this communication include the following.
1. Quarterly Budget Amendment Report for FY 2023 ending September 30, 2022.
2. Resolution Adopting the Budget Amendments through the First Quarter of FY 2023.
BUDGET IMPACT
The overall budget, despite amendment, continues to be balanced.
COMMITTEE REVIEW
This matter was reviewed by the Audit Committee at its meeting on September 23, 2022. The Audit Committee unanimously recommended that th...
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