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Board approves consent calendar, hears financial report on assessment apportionment and repayment
Summary
At the meeting the board approved the consent calendar and received an executive director report on the Feather River West assessment apportionment, including a $2.325 million budget, a $96,251 reserve and a $47,640 annual payback to Sutter Butte Flood Control Agency.
Unidentified Speaker 1 presided over the meeting, called the roll and asked for public comment before the body approved the consent calendar by voice vote.
The board then heard an executive director report from Unidentified Speaker 2 summarizing the authority’s finances and the apportionment of assessment revenues for the Feather River West benefit area. "The board did back in June was adopted its budget of about 2.3 and a quarter, $2,325,000, net," Unidentified Speaker 2 said, and he reported a net levy "of 2,250,000.00" as the baseline for apportionment.
Why it matters: the report explained how assessment revenues will be split between two local districts and how a reserve established during formation will be used to repay initial formation costs. That repayment and the…
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