DATE: May 14, 2019
SUBJECT:
Title
FY 2020 PRELIMINARY BUDGET ADOPTION
RESOLUTION ADOPTING THE FISCAL YEAR 2020 PRELIMINARY BUDGET AND SETTING THE DATE FOR PUBLIC HEARING ON THE BUDGET AS JUNE 18, 2019
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) 2020 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 2020 Preliminary Budget to the Board for adoption on May 14, 2019, and present the final budget to the Board for adoption on June 18, 2019.
On April 23, 2019, the District held a workshop to present and review the FY 2020 Preliminary Budget. Some of the highlights in developing the FY 2020 Preliminary Budget were presented and are reflected in the attached April 23, 2019, Budget Workshop Agenda Sheet (Attachment A).
At the April workshop, the Board accepted the FY 2020 Preliminary Budget, which includes applying a portion of the estimated reimbursements from specific insurance claims as a source of funds to cover related expenses for technology investments, and environmental investigative orders, along with the required matching funds for TIGER being funded similar to prior years, resulting in the use of cumulative unrestricted resources of $4.2M.
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 water quality related projects, and despite rising costs from requirements and 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.
At the M...
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