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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