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Amend the Budget to Adjust the Stormwater Enterprise Fund
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Staff:
Department:
Lance Norris, Public Works Director
Public Works
Chris Roberts, Manager of Engineering and Infrastructure
Overview: The Town's Stormwater Management Program is financially supported by the Stormwater Utility Program. The Stormwater Utility Program collects a fee from the Town's property owners and uses the revenue received to maintain and enhance the Town's stormwater infrastructure and facilities and ensure compliance with federal and state stormwater mandates.
The Stormwater Enterprise Fund has a healthy fund balance because of the Stormwater Utility Fee increase enacted in 2020. The purpose of the fee increase was to pay for debt service on the issuance of Stormwater bonds to construct flood mitigation projects identified in the Stormwater Management Plan and prioritized by Town Council in 2017.
These projects have been placed on hold pending Council's review of the recommendations proposed by the Council-appointed Lower Booker Creek Working Group and the Stormwater Management Utility Advisory Board. Though the construction of these facilities has been put on hold, there is a need to complete other stormwater related projects to address stormwater needs and priorities throughout Town. Discussions are underway and Town staff will return to Council later to share and discuss the final recommendations.
Recommendation:
That the Town Council enact the attached budget ordinance amendment to adjust the Stormwater Enterprise Fund budget.
Key Issues:
* Approve appropriating $1.12 million from the Stormwater Fund balance.
* These funds will be used for immediate operational needs including, but not limited to, pipe construction and maintenance projects, and engineering contracts to comply with the State's National Pollutant Discharge Elimination System (NPDES) permitting requirements and flood mitigation measures.
Fiscal Impact/Resources...
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