Detroit Water and Sewerage Department
File #: 2023-65    Version: 1 Name:
Type: Resolution, BOWC Status: Approved
In control: Financial Services
On agenda: 3/15/2023 Final action: 3/15/2023
Title: The Board of Water Commissioners for the City of Detroit Water and Sewerage Department approves the proposed two-year operating budgets for Fiscal Years 2023-24 and 2024-25 for the Water Operating Fund in the amounts of $136,670,200 and $141,989,000, respectively, and for the Sewage Disposal Operating Fund in the amounts of $344,815,500 and $356,954,400, respectively; and further authorizes the Director and Chief Financial Officer to take such other action as may be necessary to accomplish the intent of this vote.
Indexes: Board of Water Commissioners, Finance Committee
Attachments: 1. Water and Sewer Fund, 2. Finance Committee Presentation Proposed FY 24 Operating Budget 3.1.2023

Title

The Board of Water Commissioners for the City of Detroit Water and Sewerage Department approves the proposed two-year operating budgets for Fiscal Years 2023-24 and 2024-25 for the Water Operating Fund in the amounts of $136,670,200 and $141,989,000, respectively, and for the Sewage Disposal Operating Fund in the amounts of $344,815,500 and $356,954,400, respectively; and further authorizes the Director and Chief Financial Officer to take such other action as may be necessary to accomplish the intent of this vote.

 

Body

Agenda of March 1, 2023 Item No.  2023-65

Fiscal Year 2024 and Fiscal Year 2025 Water Supply and Sewage Disposal Operating Budgets

 

 

TO:                     The Honorable

Board of Water Commissioners City of Detroit, Michigan

 

FROM:                     Gary Brown, Director

Detroit Water and Sewerage Department

 

RE:                     Resolution Adopting the Biennial Fiscal Year 2024 and Fiscal Year 2025 Operating Budgets for the Water Supply and Sewage Disposal Systems

MOTION

WHEREAS The Great Lakes Water Authority (“GLWA”) assumed operation of the regional water and sewer systems and the Detroit Water and Sewerage Department (“DWSD”) continued operation of the retail water and sewer systems on January 1, 2016 pursuant to Lease Agreements between GLWA and the City of Detroit dated June 12, 2015.

WHEREAS In accordance with the Lease Agreements, the Detroit Board of Water Commissioners shall adopt a two year (Biennial) operating budget for the Water Supply and Sewage Disposal systems; and

WHEREAS The Fiscal Year 2023-24 and Fiscal Year 2024-25 budgets have been prepared in accordance using the contractual (lease) basis of accounting; and

WHEREAS The budgeted expenses for each such Fiscal Year are equal to the sum of the projected operating expenses and other revenue requirements for the Water Supply System and the Sewage Disposal System for each such Fiscal Year; and

 

WHEREAS The budgeted annual revenue requirement for the Water Supply System for Fiscal Year 2024 is $136,670,200 and for Fiscal Year 2025 is $141,989,000; and

 

WHEREAS The budgeted annual revenue requirement for the Sewage Disposal System for Fiscal Year 2024 is $344,815,500 and for Fiscal Year 2025 is $356,954,400; and

 

 

NOW THEREFORE BE IT:

 

RESOLVED That the Detroit Board of Water Commissioners approves the attached Biennial Budgets for Fiscal Years 2024 and 2025; and be it finally

 

RESOLVED That the Director, and the Chief Financial Officer are authorized to take such other action as may be necessary to accomplish the intent of this resolution.