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File #: 2024-198    Version: 1 Name:
Type: Resolution Status: New Business
File created: 5/8/2024 In control: Board of Directors
On agenda: 6/26/2024 Final action:
Title: Resolution to Approve the FY 2024 Third Quarter Budget Amendments
Sponsors: Nicolette Bateson
Indexes: Finance
Attachments: 1. 7B2 FY 2024 3rd Quarter Budget Amendment Report updated 6-18-2024 with Yellow.pdf, 2. 7B3 Board Letter Attachment 6.26.2024 Superseded Budget Amendment Pages with blue.pdf
Title
Resolution to Approve the FY 2024 Third Quarter Budget Amendments
Body

Agenda of: June 26, 2024
Item No.: 2024-198
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: June 26, 2024


RE: Resolution to Approve the FY 2024 Third 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 2024 Third 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 FY 2024 Third Quarter Budget amendment report The report includes the following.
1. Quarterly Budget Amendment Report for FY 2024 ending March 31, 2024.

2. Resolution Adopting the Budget Amendments through the Third Quarter of FY 2024.

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 June 17, 2024. The Audit Committee unanimously recommended that the Board of Directors for the Great Lakes Water Authority adopt the proposed FY 2024 third quarter budget amendments as presented on that date.
It...

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