HomeMy WebLinkAbout7 Budget Adjustments Agenda Item # 7
Public Utility District
PE
ACTION
To: Board of Directors
From: Bob Mescher
Date: July 23, 2008
Subject: Mid-Year Budget Adjustments
1. WHY THIS MATTER IS BEFORE THE BOARD
Only the Board can make adjustments to the budget.
2. HISTORY
This item is a follow-up of the District's mid-year budget review workshop presented
on July 16, 2008. During that review, it was identified that there were unanticipated
expenses of approximately $50,000 in Cost Center 2 - General Manager.
These additional expenditures were due to the transition from the Interim General
Manager to the new General Manager. Included in the additional costs is the Interim
General Manager's contract extension that was approved by the Board.
3. NEW INFORMATION
Staff has identified budgeted expenses in four cost centers that can can be reduced to
offset the variance in Cost Center 2.
$12,000 Cost Center 3 - Administration
$19,000 Cost Center 5 - General Services
$ 9500 Cost Center 6 - Electric Operations
9,500 Cost Center 7 - Water Operation
$50,000 Total transfer to Cost Center 2 - General Manager
4. FISCAL IMPACT
There is no direct fiscal impact from this agenda item because the District's total
budgeted operating expenses will be unaffected.
5. RECOMMENDATION
Staff recommends that the Board authorize the reallocation of budgeted operational
expenses from other cost centers to Cost Center 2 - General Manager.
Mary C pm Michael . Ile
Administrative Services Manager General Manager