HomeMy Public PortalAboutResolution - 24-02- 20240228 - 02_FY24Q2BudgetAdjustmentRESOLUTION NO, 24-02
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT AMENDING
THE BUDGET FOR FISCAL YEAR 2023-2024
WHEREAS, on June 14, 2023, the Board of Directors (Board) of the Midpeninsula
Regional Open Space District (District) adopted the Budget and Action Plan for fiscal year
ending June 30, 2024 (FY24); and
WHEREAS, on August 23, 2023, the Board amended the FY24 Budget in the amount of
$163,000 for the Vielbaum Property purchase; and
WHEREAS, on November 8, 2023, the Board amended the FY24 Budget for Q1 budget
adjustments, increasing Fund 10 by $76,500 and decreasing Fund 40 by $1,130,500, for a net
total budget reduction of $1,054,000; and
WHEREAS, the General Manager recommends amending the FY24 Budget to reflect
changes resulting in 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 expenditure budget amendments to the District
FY24 Budget resulting in a net decrease as follows:
DISTRICT BUDGET BY
FUNDING SOURCE
FY24 Adopted
Budget
YTD Approved
Amendments
Amended
Budget (as of
11/8/2023)
Amendments
FY24 Proposed
Amended
Budget
Fund 10 - General Fund Operating
$45,488,494
$76,500
$45,564,994
($161,084)
$45,403,910
Fund 20 - Hawthorns
$37,200
$0
$37,200
$0
$37,200
Fund 30 - MAA Land/Capital
$12,800,647
$0
$12,800,647
($263,681)
$12,536,966
Fund 40 - General Fund Land/Capital
$10,296,776
($967,500)
$9,329,276
($2,037,357)
$7,291,919
Fund 50 - Debt Service
$14,171,263
$0
$14,171,263
$0
$14,171,263
TOTAL
$82,794,380
($891,000)
$81,903,380
($2,462,122)
$79,441,258
SECTION TWO. The following transfer is approved and the General Manager or
designee is authorized to implement said transfers during FY24: $3,000,000 to the Committed
fort Infrastructure Fund.
SECTION THREE. Monies are hereby appropriated in accordance with said budget by fund.
SECTION FOUR. Except as herein modified, the FY24 Budget and Action Plan,
Resolution No. 23-10 as amended, shall remain in full force and effect.
* * * * * * * * * * * * * * * * * * * *
Resolutions/2024/24-02 Fy24 Q3 Budget Adjustments
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Curt Riffle, Secretary
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on February 28, 2024, at a regular meeting thereof, by the following vote:
AYES: CYR, GLEASON, HOLMAN, KERSTEEN-TUCKER, KISHIMOTO,
MACNIVEN, RIFFLE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
APPROVED:
gare MacNiven, President
Mar
Board of Directors Board of Directors
APPROVED AS TO FORM:
Hilary Stevenson, General Counsel
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.
(..Mati(a. Soria, District Cl
Resoiutionsi2624r24-62_Fy24 Q3 Budget Adjustments
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