Title
Approval of Budget Carryovers from FY2024 to FY2025
Recommended Action
I move that the Board of Public Utilities approve Budget Revision 2025-08 as summarized on attachment A and forward to Council with a recommendation for approval. I further move that attachment A be made a part of the minutes of this meeting.
Utilities Manager Recommendation
The Utilities Manager recommends the Board of Public Utilities endorse the budget carryovers as presented and forward to Council with a recommendation for approval.
Body
The Department of Public Utilities is requesting approval of Budget Revision 2025-08 for carry over of budget authority for projects that were budgeted in FY2024 but were not completed. It is intended that these projects will be completed in FY2025. These projects are listed in detail on the Budget Revision form, attached herewith as Attachment A.
Requirements for carryover of budget authority are as follows:
1. The projects were budgeted in FY2024 but were not completed,
2. We did not have a valid encumbrance as of June 30, 2024 already.
3. We have FY2024 Budget left to cover the amount we are proposing to carry over
4. We did NOT re-budget the project or funds in FY2025
All of these requirements have been met for each of the projects listed. We are seeking Board approval to carry these funds over in anticipation of completing these projects in FY2025. Upon Board approval this $32,178,236 carryover will be presented for Council approval.
Alternatives
If these funds are not carried over the associated projects would have to be postponed, other projects delayed, budgeted in FY2026 or cancelled.
Fiscal and Staff Impact
The net fiscal impact to the Joint Utilities Fund in FY2025 is an increase in expenditures of $32,178,236, an increase in revenues of $21,837,000 and a decrease in Fund Balance of $10,341,236.
Attachments
A - 2025-08_DPU_Carryovers