Good afternoon, everybody, and welcome to the Director McCarthy Olmsted here.

Director Marshall.

Here.

Director whom?

Director Keaton.

Here.

Director Nava.

Here.

Director Jennings.

Director Kaplan.

Director Talamente.

Here.

Director Holloway.

Here.

Director LeCluse.

Director Avdes.

Director Lee Reader.

Here.

And Director Connet.

We're good.

We have a nine-member quorum.

All right.

Okay.

Please join me in the Pledge of Allegiance.

Thank you to Republican.

One nation.

Justice Raw.

Good afternoon, ladies and gentlemen.

This meeting, the SAFCA is being broadcast live and will be cable cast without interruption on Metro Cable Channel 14 on Sunday, June 23rd at 12 p.m.

No members of the audience, so we will skip that section.

Thank you.

Okay.

And any other public comments that I have not received any.

Okay.

And so our first item would be separate matters, which is a public hearing resolution number 2024043, adopting the recommended fiscal year 24-25 budget.

Mr.

Campbell.

Thank you, Chair Holloway.

Jason Campbell, Deputy Executive Director.

I just wanted to say before we get started, thank you to the staff for putting together yet a very solid budget as well as a nice clean budget.

Once again, uh this is my ninth budget for SAFCA, so I'm very happy to be here and make sure we get this taken care of quickly.

So again, um SAFCA is presenting its fiscal year 25 recommended budget to the board.

Uh based on the previous discussions that we've had with the board, there has not been very many changes.

There's some slight changes based on the actuals that we're seeing towards the end of the fiscal year.

But since the time of May 30th, we have published the budget.

There's not any changes since the publication of the budget on the web page, as well as maybe making it available to the public itself.

So again, we have done the requisite public hearing notices, and today we have the public hearing once I get done with the presentation.

So once again, Safca is presenting this budget based on some assumptions.

Those assumptions include how our projects are moving forward, and that we don't change any of our priorities.

And of course, uh we have continue adequate progress towards our federal and state requirements for flood control, and that our revenues and our fees uh go and come in as projected, and we don't see anything crazy happening in our uh economy.

And then, of course, our stable assessments continue.

So as we move forward with our budget, it's a very simple budget in the sense that we have four funds.

The OM assessment district number one is the fund that acts as our general fund.

The development impact fee is a fee for developments, is exactly as it says in the title.

And then, of course, we have two assessment districts that make up the lion's share of our funding as well as the work that we perform uh in benefit of the community.

So overall, the recommended budget this year is uh just over 140.4 million dollars, and in that we fund the balance.

I'm sorry, the fund balance provides a large portion, 33 percent of the funding that we need to uh for these appropriations, and you can see the different funds have fund balances associated with the current fiscal year that we'll carry over into the next fiscal budget.

In addition, we use reserve releases from our operating funds again, those four budgets or those four funds.

You can see those reserve releases that move in to make up the 28.6 million dollars in reserves that go into the operating uh budgets, and then of course we have anticipated revenues and the amount of 66.2 million dollars, and you can see those sources and in this also is a 45 million dollar operating transfer.

Those are transfers between different budgets to address the costs that are being appropriated.