DATE: May 8, 2018
SUBJECT:
Title
RESOLUTION ADOPTING THE FISCAL YEAR 2019 PRELIMINARY BUDGET AND SETTING THE DATE FOR PUBLIC HEARING ON THE BUDGET AS JUNE 12, 2018
Body
EXECUTIVE SUMMARY:
In accordance with the San Diego Unified Port District Act (Port Act) Sections 46 and 47, by June 15, the District must adopt and publish the Fiscal Year (FY) 2019 Preliminary Budget and set a date for the Board's adoption of the final budget not less than one month from publication. Staff intends to present the FY 2019 Preliminary Budget to the Board for adoption on May 8, 2018, and present the final budget to the Board for adoption on June 12, 2018.
On April 17, 2018, the District held a workshop to present and review the FY 2019 Preliminary Budget. Some of the highlights in developing the FY 2019 Preliminary Budget were presented and are reflected in the attached April 17, 2018 Budget Workshop Agenda Sheet (Attachment A).
At the April workshop, the Board accepted the FY 2019 Preliminary Budget, which includes staff recommendation to use $5.6M of cumulative unrestricted resources as TIGER matching funds for the Demolition and Site Improvements of Transit Sheds 1 and 2 for the TAMT project, and to apply $3.3M of Capital Improvement Project (CIP) funds from the Navy Pier Head House Demolition project to the Capital Major Maintenance (MM) Structural Repairs, as well as maintain the current CIP program and budget, and not solicit project application forms or hold a CIP workshop in FY 2019.
Additionally, the Board approved the use of $500k of cumulative unrestricted resources to fund the $450k Baywide Informational and Wayfinding Signage project, and a $50k increase in the FY 2019 Tidelands Activation Program (TAP) sponsorship.
The budget is shaped by significant cost drivers in carrying out principles in the Public Trust doctrine. These drivers include championing environmental protection and complying with increasing regulations, such as increased stormwater and wat...
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