TITLE
Recommendation to adopt resolution increasing appropriations in the Water Fund (EF 310) in the Water Department (WA) by $250,000. (Citywide)
DISCUSSION
The Fiscal Year 2012-2013 Budget adopted by the Board of Water Commissioners by resolution WD-1298 on June 21, 2012 represented the planned expenditures and projected revenues needed to execute the Department's mission. In July of 2012, the Long Beach Water Department (LBWD) entered into an in-lieu replenishment agreement with the Water Replenishment District of Southern California (WRD) to purchase additional imported water instead of pumping and treating our full groundwater allocation. The benefit of the agreement is that the groundwater basin is replenished by reduced pumping. As imported water is more expensive than groundwater, WRD agreed to reimburse the additional cost incurred by LBWD, and therefore these additional costs are a 100% revenue offset.
TIMING CONSIDERATIONS
City Council action on this matter is required prior to the closing of the City's books for FY 13.
FISCAL IMPACT
To accurately reflect FY 13 year-end transactions the following action is requested:
ยท Increase appropriations in the Water Fund (EF 310) in the Water Department (WA) by $250,000 offset by additional revenues.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
KEVIN L. WATTIER
GENERAL MANAGER
BODY
A RESOLUTION OF THE CITY OF LONG BEACH BOARD OF WATER COMMISSIONERS ADOPTING THE AMENDED AND RESTATED WATER FUND ANNUAL BUDGET FOR THE LONG BEACH WATER DEPARTMENT FOR THE FISCAL YEAR 2012-2013