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Consultant explains year-end surplus from time-and-materials budget; NERF check to be presented
Summary
Woodard & Curran representative Lehi Burden explained that the firm’s time-and-materials budgeting and unspent labor produced an annual surplus (about $175,000 this year, per presentation) and that the firm will deliver a surplus check and annual report with detailed underspent line items.
Lehi Burden, area manager with Woodard & Curran, explained how the firm’s budgeting and billing process creates a year-end surplus that results in an annual surplus check to the authority. Burden said budgets are divided into 12 equal monthly invoice amounts and actual time-and-materials expenses are reconciled at year end. He said last year’s surplus was about $300,000 and that this year’s surplus is about $175,000 as stated in his presentation.
Burden cited specific drivers of the surplus, including unspent labor when personnel were out on short-term disability, and said maintenance tasks — including major maintenance on the centrifuge — were completed within the overall budget. He said the firm will deliver an annual report with the December MSR that highlights underspent budget categories and line items. The presenter confirmed the fiscal year begins Oct. 1.
Board members thanked Woodard & Curran for the work and noted the surplus check would be presented to the board after the consent agenda.
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