Title
Approval of Budget Revision 2026-73
Recommended Action
I move that Council approve Budget Revision 2026-73 as presented and include Attachment A as part of the minutes.
Utilities Manager's Recommendation
The Utilities Manager recommends that Council approve the motion as presented.
Board, Commission or Committee Recommendation
The Board of Public Utilities reviewed this request at their regular meeting on May 20, 2026 and recommends that Council approve the motion as presented.
Body
The purpose of this budget revision is to make budget modifications necessary for year-end to properly distribute the cost of power transfer from Electric Distribution to Electric Production due to costs associated with the DOE Vertical Switchgear Project; and to properly distribute the cost of water transfer from Water Distribution to Water Production due to water production costs; and to increase expenditure authority for interdepartmental charges to reconcile the budget with actuals for the fiscal year.
Alternatives
If the budget revision is not approved, the Electric Distribution and Water Distribution Funds will exceed FY2026 approved budget for the cost of power and the cost of water. Interdepartmental charges for each DPU division will also exceed FY2026 approved budget.
Fiscal and Staff Impact
The net impact on the Joint Utilities Fund is an increase of expenditures and a decrease in fund balance of $540,175 for the increase in interdepartmental charges. There is no net impact on the Joint Utilities Fund for the interfund transfer portions of the budget revision for Electric and Water.
Attachments
A - Budget Revision 2026-73
B - FY2026 Cost of Power, Cost of Water, and IDC Budget Projection