HomeMy Public PortalAboutResolution - 23-09- 20230510 - FY23 Q3 Budget AdjustmentRESOLUTION NO. 23-09
RESOLUTION OF THE BOARD OF DIRECTORS OF THE MIDPENINSULA
REGIONAL OPEN SPACE DISTRICT AMENDING THE BUDGET FOR FISCAL
YEAR 2022-2023
WHEREAS, on June 8, 2022 the Board of Directors (Board) of the Midpeninsula
Regional Open Space District (District) adopted the Fiscal Year ending June 30, 2023 (FY23)
Budget and Action Plan; and
WHEREAS, on November 9, 2022 the Board amended the FY23 Budget; and
WHEREAS, the General Manager recommends amending the FY23 Budget to reflect a
net increase in revenues and a net decrease in projected expenditures.
NOW, THEREFORE, the Board of Directors of the Midpeninsula Regional Open Space
District does resolve as follows:
SECTION ONE. Approve the recommended revenue amendments to the District's
FY23 Budget resulting in a net increase as follows:
DISTRICT REVENUE BY
FUNDING SOURCE
FY23
Adopted
Budget
YTD
Approved
Budget
Amendments
Amended
Budget
(as of
3/31/2023)
Quarter 3
Proposed Budget
Amendments
FY23
Proposed
Amended
Budget
Fund 10 - General Fund Operating
$65,863,621
$0
$65,863,621
$12,115,638
$77,979,259
Fund 20 - Hawthorn Fund
$20,000
$0
$20,000
$40,000
$60,000
Fund 30 - MAA Land/Capital
$3,075,399
$0
$3,075,399
$9,014,607
$12,090,006
Fund 40 - General Fund Land/Capital
$0
$0
$0
$155,000
$155,000
Fund 50 - Debt Service
$5,527,000
$0
$5,527,000
$0
$5,527,000
Total
$74,486,020
$0
$74,486,020
$21,325,245
$95,811,265
SECTION TWO. Approve the recommended budget amendments to the District FY23
Budget resulting in a net decrease as follows:
DISTRICT BUDGET BY
FUNDING SOURCE
FY23
Adopted
Budget
YTD
Approved
Budget
Amendments
Amended
Budget
(as of
3/31/2023)
Quarter 3
Proposed
Budget
Amendments
FY23 Proposed
Amended Budget
Fund 10 - General Fund Operating
$42,665,113
$0
$42,665,113
($540,756)
$42,124,357
Fund 20 - Hawthorn Fund
$37,200
$0
$37,200
($37,000)
$200
Fund 30 - MAA Land/Capital
$10,407,114
$15,620,000
$26,027,114
($3,761,541
$22,265,573
Fund 40 - General Fund Land/Capital
$6,930,600
$0
$6,930,600
($3,124,180)
$3,806,420
$23,943,488
Fund 50 - Debt Service
$23,943,488
$0
$23,943,488
$0
Total
$83,983,515
$15,620,000
$99,603,515
($7,463,477)
$92,140,038
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SECTION THREE. The following transfers are approved and the General Manager or
designee is authorized to implement said transfers during the Fiscal Year Ending June 30, 2023:
$7,990,000 from Committed for Infrastructure, $6,360,000 from Committed for Parity Bonds
(Series B), $1,500,000 million to Committed for Future Acquisitions & Capital Projects,
$1,250,000 million to Committed for Capital Maintenance and $1,469,193 from Assigned Fund
Balance Transfers.
SECTION FOUR. Monies are hereby appropriated in accordance with said budget by
fund.
SECTION FIVE. Except as herein modified, the FY23 Budget and CIAP, Resolution
No. 22-21 as amended, shall remain in full force and effect.
* * * * * * * * * * * * * * * * * * *
*
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional
Open Space District on May 10, 2023, at a regular meeting thereof, by the following vote:
AYES: CYR, GLEASON, HOLMAN, KERSTEEN-TUCKER, KISHIMOTO,
MACNIVEN, RIFFLE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
ATTEST:
Craig Gleason, Secretary
Board of Directors
APPROVED AS TO FORM:
Hilary Ste enson, General Counsel
APPROVED:
iko Kishimoto, President
and of Directors
I, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify
that the above is a true and correct copy of a resolution duly adopted by the Board of Directors
of the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
ria Soria, Distri .i Clerk
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