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Agency reports $28.8 million estimated capital balance, highlights $5.8 million pending capital revenue
Summary
Finance staff presented the monthly financial report through February: estimated total capital balance about $28.8 million, with $5.8 million in pending capital revenue and about $3.7 million paid capital expenditures through February. Agency met debt-service obligations; next payment due in October is about $4.4 million.
The Sutter Butte Flood Control Agency's finance staff presented the monthly financial report through the end of February at the April 9 meeting.
Sean (last name not specified in transcript) told the board the agency's ending capital balance through February was about $24.5 million and was estimated at about $28.8 million as of the date of the report. He said estimated operating revenue received for the operational fund included $750,000 already received that maximized the current budgeted amount.
Key figures presented - Ending capital balance through end of February: about $24.5 million (staff's statement). - Estimated capital balance as of report date: about $28.8 million. - Paid capital expenditures through end of February: about $3.7 million. - Expenditures to date (anticipated): about $4.6 million, leaving an anticipated difference of about $900,000. - Year-to-date capital revenue received: about $5.8 million; estimated capital revenue for the year: about $11.6 million (difference approximately $5.8 million in pending revenue). - Total revenues to date: about $6.5 million; total estimated revenues: about $12.3 million (difference ~ $5.8 million pending).
Staff explained that pending capital revenue includes assessments and state receipts the agency expects to receive in May or June, and noted $2.6 million in retention under the agency's UFIR agreement that staff continue to pursue through grant closeouts and other state grant processes. Staff also reported the agency had met its debt service obligations through April; the next scheduled payment is due in October and is "just under about $4.4 million."
Other financial items and context Staff described ongoing grant closeouts, continued work on state grant rounds (RFMP4/RFMP5) and coordination on state grants for sediment removal and other projects. Staff said they had filed continuing disclosure reports on EMMA regarding debt service and encouraged interested parties to search EMMA for details.
What the board asked Board members did not record a vote on the financial report; staff invited questions and said they would present a preliminary budget at the board's May 14 meeting and the final budget for adoption in June.
Source attribution - Sean (finance staff): report covers all financials through the end of February and the summarized figures above.
