Title
Chief Administrative Office recommending the Board approve the attached budget transfer increasing revenue and appropriations in fund 20-502-317, the SMUD fund, by $108,515 in order to pay the Fiscal Year 2014/15 Georgetown Divide Public Utility District funds owed under Section 6.3 of the El Dorado Intra-County Coordination Agreement (Attachment A) for mitigation of adverse impacts associated with the new SMUD license for the Upper American River Project from the Federal Energy Regulatory Commission. (4/5 vote required)
FUNDING: SMUD Funds.
Body
DEPARTMENT RECOMMENDATION
Chief Administrative Office recommending the Board approve the attached budget transfer to allow for the FY 2014-15 payment to the Georgetown Divide Public Utility District owed under Section 6.3 of the El Dorado Intra-County Coordination Agreement in the amount of $108,515.
DISCUSSION / BACKGROUND
In 2005 the County executed an Intra-County Coordination Agreement between the County, the El Dorado County Water Agency, the Georgetown Divide Public Utility District, the El Dorado Irrigation District and the El Dorado Water and Power Authority. Section 6.3 of this agreement requires a payment to GDPUD in the amount of 9/59 of the annual amount the County receives from SMUD under Section 4.2 of the El Dorado - SMUD Cooperation Agreement (Attachment B). In September, 2014, the County received the first payment related to the new FERC license. The amount of the payment was $711,374. GDPUD has requested their 9/59 share of these funds which equates to $108,515. These funds were not included in the FY 2014-15 budget due to the uncertainty of the timing of when the FERC license would be granted. Funding has been included in the FY 2015-16 budget as these payments will now occur annually as long as the Cooperation Agreement is in effect.
ALTERNATIVES
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION
N/A
FINANCIAL IMPACT
There is no financial impact related to this action. The revenue has been received and simply needs to be passed through to GDPUD based on the Intra-County Coordination Agreement.
CLERK OF THE BOARD FOLLOW UP ACTIONS
Clerk of the Board to obtain the chairman's signature on the budget transfer and forward to the Auditor's office for processing.
STRATEGIC PLAN COMPONENT
Good Governance
CONTACT
Laura Schwartz