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File #: 2021-0126    Version: 1 Name:
Type: Action Item Status: Passed
File created: 2/17/2021 In control: Board of Port Commissioners
On agenda: 6/15/2021 Final action: 6/15/2021
Title: A. CONDUCT PUBLIC HEARING AND ADOPT AN ORDINANCE ADOPTING THE FISCAL YEAR 2022 FINAL BUDGET B. RESOLUTION WAIVING BPC POLICY NO. 730 - PORT ENVIRONMENTAL ADVISORY COMMITTEE POLICY AND NOT DEPOSIT THE FY 2022 ANNUAL SET ASIDE OF APPROXIMATELY $662K TO THE ENVIRONMENTAL FUND AS REFLECTED IN THE FY 2022 BUDGET C. RESOLUTION WAIVING BPC POLICY NO. 773 - MARITIME INDUSTRIAL IMPACT FUND AND NOT DEPOSIT THE FY 2022 ANNUAL SET ASIDE OF APPROXIMATELY $159K TO THE MARITIME INDUSTRIAL IMPACT FUND (MIIF) AS REFLECTED IN THE FY 2022 BUDGET D. RESOLUTION WAIVING BPC POLICY NO. 117 - OPERATING RESERVE POLICY, TO ALLOW THE USE OF OPERATING RESERVE TO PARTIALLY FUND THE FY 2022 BUDGET, HOWEVER THE OPERATING RESERVE BALANCE SHALL IN NO EVENT GO BELOW THE MINIMUM REQUIRED $20M.
Attachments: 1. 8.1 2021-0126 Attachment A, 2. 8.1 2021-0126 Attachment B, 3. 8.1 2021-0126A Draft Ordinance, 4. 8.1 2021-0126B Draft Resolution, 5. 8.1 2021-0126C Draft Resolution, 6. 8.1 2021-0126D Draft Resolution
DATE: June 15, 2021

SUBJECT:

Title
A. CONDUCT PUBLIC HEARING AND ADOPT AN ORDINANCE ADOPTING THE FISCAL YEAR 2022 FINAL BUDGET

B. RESOLUTION WAIVING BPC POLICY NO. 730 - PORT ENVIRONMENTAL ADVISORY COMMITTEE POLICY AND NOT DEPOSIT THE FY 2022 ANNUAL SET ASIDE OF APPROXIMATELY $662K TO THE ENVIRONMENTAL FUND AS REFLECTED IN THE FY 2022 BUDGET

C. RESOLUTION WAIVING BPC POLICY NO. 773 - MARITIME INDUSTRIAL IMPACT FUND AND NOT DEPOSIT THE FY 2022 ANNUAL SET ASIDE OF APPROXIMATELY $159K TO THE MARITIME INDUSTRIAL IMPACT FUND (MIIF) AS REFLECTED IN THE FY 2022 BUDGET

D. RESOLUTION WAIVING BPC POLICY NO. 117 - OPERATING RESERVE POLICY, TO ALLOW THE USE OF OPERATING RESERVE TO PARTIALLY FUND THE FY 2022 BUDGET, HOWEVER THE OPERATING RESERVE BALANCE SHALL IN NO EVENT GO BELOW THE MINIMUM REQUIRED $20M.
Body

EXECUTIVE SUMMARY:

In accordance with the San Diego Unified Port District Act (Port Act) Sections 46 and 47, by June 15, 2021, the District must adopt and publish the Fiscal Year (FY) 2022 Preliminary Budget and set a date for the Board's adoption of the final budget not less than one month from publication. Staff will present the final budget to the Board for adoption on June 15, 2021.

On May 11, 2021, the Board adopted the FY 2022 Preliminary Budget. For discussion on how the preliminary budget was developed and for more details on this budget, please refer to Attachment B - Preliminary Budget Adoption - May 11th Agenda Sheet with Attachments. The proposed FY 2022 Final Budget is also provided as Attachment A.

As reflected in the approved FY 2022 Preliminary Budget, staff is asking the Board to adopt resolution waiving the annual set-aside deposit requirement of approximately $662k for BPC Policy No. 730 - Port Environmental Advisory Committee Policy which is one-half of one percent (1/2 of 1%) of the District's projected gross revenues for FY 2022.

Staff is also asking the Board to adopt resolution waiving the annual set-aside deposit requirement of...

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