Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Diversion Authority finance committee approves final 2025 cash budget after staff presentation
Summary
The committee approved a final 2025 cash budget after a presentation summarizing revenue assumptions, WIFIA draws, legacy fund draws and schedule-driven changes; staff noted certain line-item shifts and the need to use some cash on hand.
The Diversion Authority Finance Committee on Jan. 22 approved the 2025 cash budget following a staff presentation that summarized revenues, legacy fund draws, WIFIA draws for the P3 and line-item changes carried forward from 2024.
Paul Barthol presented the final 2025 cash budget and highlighted several changes from prior versions. He said the figure presented in the slides was $424,055,689; during the motions and roll call the motion referenced $424,479,689. Barthol noted a roughly $3 million shift into 2025 for third-party MOU utility costs that were pushed from December into the new year and that P3 line items moved from $232 million to about $234 million because of schedule changes and change orders. He said the budgeted WIFIA draws correspond to the P3 allocation ($234 million) and that some cash-on-hand would be allocated in 2025, describing a planned draw of just over $5.7 million from cash on hand.
Barthol also summarized 2024 cash activity in response to committee questions: legacy fund draws included an additional $22 million in December, bringing total legacy draws for the year to a little over $113 million and leaving a beginning balance of about $87 million for 2025. He said lands had a roughly $6.7 million overage in 2024 driven by a series of property closings, and that third-party MOU/mitigation had a roughly $22.7 million underspend that had been rolled into 2025. Barthol described the administrative/operations budget as roughly $1.65 million where the year closed about $162,000 under budget (the administrative total included a stipend paid to co-executive directors).
Mayor Carlson moved to approve the 2025 cash budget as presented; Mrs. Thompson seconded. The committee adopted the budget by roll call. Committee members asked for a report to the full board the next day outlining growth in sales tax receipts and other revenue assumptions.
Staff will proceed with draws and cash‑management tasks in line with the approved budget and will report results at upcoming meetings.
