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Board accepts first-quarter financial report amid debate over infrastructure budgeting and Montero Force Main
Summary
The SAM board accepted the Q1 FY25–26 financial report but several directors pressed staff for more granular, project-level infrastructure reporting and raised concerns that carryover projects plus the Montero Force Main will substantially increase next year's capital budget.
The SAM Board voted to accept the quarterly financial report for the first quarter of fiscal year 2025–26, but the vote followed extended discussion about budget presentation, carryover projects, and how large capital needs will be tracked and funded.
Staff explained the common first-quarter overages are driven by annual bills (insurance, service contracts) often paid early in the fiscal year; staff said those timing differences typically flatten over…
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