DATE: June 14, 2022
SUBJECT:
Title
CONDUCT PUBLIC HEARING AND ADOPT AN ORDINANCE ADOPTING THE FISCAL YEAR 2023 FINAL BUDGET
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EXECUTIVE SUMMARY:
In accordance with the San Diego Unified Port District Act (Port Act) Sections 46 and 47, by June 15, 2022, the District must adopt and publish the Fiscal Year (FY) 2023 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 14, 2022 (Attachment A).
At the April 21, 2022 Budget Workshop, staff presented a draft FY 2023 Preliminary Budget and received direction from the Board; and on May 10, 2022, staff presented an updated Preliminary Budget to the Board which results in an approximate $4.1M budget surplus. On May 10, 2022, the Board voted to accept staff's recommendation to adopt the FY 2023 Preliminary Budget, with the addition of an additional $450,000 for the intern program.
After adoption, staff published the FY 2023 Preliminary Budget to complete the 30-day required public review period.
It is important to note that the FY 2023 budget is a plan that the Board can amend at any time during the year.
RECOMMENDATION:
Recommendation
Conduct public hearing and adopt an ordinance adopting the FY 2023 Final Budget
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FISCAL IMPACT:[h1]
This proposed Board action will appropriate funds for FY 2023 expenditures as follows:
COMPASS STRATEGIC GOALS:[h2]
This agenda item supports the following Strategic Goal(s).
* A Port that the public understands and trusts.
* A thriving and modern maritime seaport.
* A vibrant waterfront destination where residents and visitors converge.
* A Port with a healthy and sustainable bay and its environment.
* A Port with a comprehensive vision for Port land and water uses integrated to regional plans.
* A Port that is a safe place to visit, work and play.
* A Port with an innovative and motivated workforce.
* A financially sustaina...
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