The Board approved the fiscal year 2023-2024 budget proposed at the May 25th Board Meeting.
The budget includes an increase in Kings Subbasin Coordination, legal fees, engineering consulting fees, public information, executive officer expenses, and supporting staff expenses. The budget also includes a decrease in professional services. The total proposed expenses for next year are $507,950.
Rather than assess each member agency for their share of expenses, the North Kings proposed the assessments be collected at 50% of expenses since agencies already have balances accumulated. Participants’ balances include enough to cover this year while leaving 117% in reserves.
North Kings GSA staff recommended moving the agency from a six-month reserve to a twelve-month reserve. This change will allow the North Kings to have funds to cover possible extra expenses and prevent the need to collect emergency funds from agencies in the future. North Kings GSA staff will provide the Board with updated information about the benefits of a twelve-month reserve.