DATE: May 9, 2023
SUBJECT:
Title
RESOLUTION ADOPTING THE FY 2024 PRELIMINARY BUDGET AND SETTING THE DATE FOR PUBLIC HEARING ON THE BUDGET AS JUNE 13, 2023
Body
EXECUTIVE SUMMARY:
In accordance with the San Diego Unified Port District Act (Port Act) Sections 46 and 47, by June 15, 2023, the District must adopt and publish the Fiscal Year (FY) 2024 Preliminary Budget and set a date for the Board of Port Commissioners' (Board) adoption of the final budget not less than one month from publication. Staff will present the FY 2024 Preliminary Budget to the Board for adoption on May 9, 2023 and present the final budget to the Board for adoption on June 13, 2023.
At the April 25, 2023 Budget Workshop, staff presented a draft FY 2024 Preliminary Budget and asked for direction from the Board. During the meeting, the Board accepted the FY 2024 Preliminary Budget presentation and gave feedback to staff. This preliminary budget is now updated and reflects the changes based on feedback from the Board which resulted in an approximately $4.4M budget surplus (Attachment A).
The FY 2024 preliminary budget was developed supporting core operations, and resources needed to support projects that include environmental protection and complying with increasing regulations, maintaining the Port's infrastructure through ongoing major maintenance, providing a secure, stable, high performing technology environment, promoting the public's enjoyment of tidelands, public safety, and enhancing economic development.
It is important to note that the FY 2024 budget is a plan that the Board can amend at any time during the year.
RECOMMENDATION:
Recommendation
Adopt a resolution adopting the FY 2024 Preliminary Budget and setting the date for public hearing on the budget as June 13, 2023
Body
FISCAL IMPACT:[h1]
This proposed Board action has no fiscal impact until the final adoption at the June Board Meeting. This item approves publication of the preliminary budget document and si...
Click here for full text