HomeMy WebLinkAbout2027 Budget Adjustment Additional Water RightsBUDGET ADJUSTMENT REQUEST FORM
Dept:Fiscal Year Affected:2027
Expense Accounts to Receive Increased Budget:
Account:26434-5637 Amount:750,000 WATER RIGHT PURCHASE
Account:Amount:
Account:Amount:
Account:Amount:
TOTAL:750,000
Accounts Where Budget is Coming From:
Account:26434-3999 Amount:750,000 FUND BALANCE CARRYOVER
Account:Amount:
Account:Amount:
Account:Amount:
Account:Amount:
TOTAL:750,000
Net Expense less Revenue - (This must be zero)
Coming From:Contingency:
Other Expense:
New Revenue:750,000
TOTAL INCREASE 750,000
Reason for the Increase:
This purchase would ideally come from Water Capital Reserve, but we are anticipating spending that down
substantially by FY27 so will likely need to come from water operating reserves projected to have over $4.5 Million
at the end of Fiscal Year 2027 with this purchase.
Signed:
Dept Head:Date:
CFO:Date:
Mayor:Date:
Approved by the City Council (*if necessary) on this Date:
*City Council approval required if:
1)$10,000 or more is taken from Contingency
2)$50,000 or more is a change in a Capital Purchase
3)New Full-time Regular personnel positions
4)Additional Full-time Regular personnel
5)New Types of Major Programs
WATER
Additional Water Rights have become available to purchase at a discounted rate. In FY 2025 we purchased water
rights for 50 acres at a cost of $14,270/acre. We can purchase these additional water rights available now for 66.8
acres at $11,228/acre or $750,000.