Title
Air Quality Management District (AQMD) recommending the Board, acting as the AQMD Board of Directors, approve and authorize the Chair to sign a Budget Transfer amending the District's adopted Fiscal Year 2024-25 Budget to adjust fund balance amounts and corresponding balancing entries to reflect FY 2023-24 ending fund balances, and to adjust budgeted Appropriation for Contingency amounts and add budget appropriations for projects that were not completed in FY2023-24. (4/5 vote required)
FUNDING: Permit revenues, State surcharge fees, Grants.
Body
DISCUSSION / BACKGROUND
The Air Quality Management District's Board of Directors conducted a Budget Hearing on the District's recommended Fiscal Year (FY) 2024-25 budget on June 11, 2024. The Board then adopted the recommended budget on June 25, 2024. Attachment A consists of the Adopted Budget documents that were posted to the District's webpage after the Board's adoption of the budget.
On September 5, 2024, the County's Auditor-Controller finalized the FY 2023-24 financial records, and the final year-end fund balances were calculated. This item makes adjustments to the Adopted AQMD FY 2024-25 Budget based on these year-end fund balances. The recommended revisions are outlined in Attachment B, and the Budget Transfer forms are included as Attachment C for Board review and approval for inclusion in the FY 2024-25 Adopted Budget for the District. These adjustments require a 4/5 vote as these changes are being made after the District's budget was adopted by the Board on June 25, 2024.
The recommended changes increase the use of the District's fund balances for the four AQMD sub-funds by a total of $820,966. The change in fund balance is largely in the District's AB923 account ($557,983 increase), mainly due to several school district's grant-funded buses not being delivered and funded in FY 2023-24. There are smaller fund balance adjustments to the District's AB2766 account ($144,930 increase), Carl Moyer...
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