Board approves consent calendar, hears financial report on assessment apportionment and repayment

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 apportionment determine the amounts available to fund ongoing maintenance and operations in the districts.

Unidentified Speaker 2 said the apportionment breaks down to "82.1% going to L D 1" and "17.9% of the revenues coming into L D 9," and that the authority had about "1,347,000.000 in change, in the bank as of the, middle of, January." He identified a reserve of "$96,251" for the Feather River West financing authority. The reserve covers two primary purposes: scheduled repayment to Sutter Butte Flood Control Agency for formation costs and payment of agency administrative expenses. "The resulting, payment due each June is $47,640," he said.

After subtracting the reserve and the scheduled payback, Unidentified Speaker 2 said roughly $1,251,000 remained for apportionment this cycle, resulting in "a little bit over $1,000,000" to LD 1 and "just under $225,000" to LD 9, figures he said were consistent with budgets previously approved by the LDs. He also described the administrative steps to move funds: "Drew's next action is, to, process a journal between from the county to move that money from Feather River West Lubbock financing authority to L D 1 and L D 9." He said the same apportionment process will repeat in April and after the April tax bills in May, with a cleanup apportionment if delinquency receipts are later collected.

Unidentified Speaker 1 asked for background on Sutter County’s role in the JPA and the assessment process. Unidentified Speaker 2 explained that some properties benefiting from LD maintenance lie outside LD boundaries, so including the county in the joint powers agreement allowed creation of an assessment that could levy charges across the Feather River West benefit area without a lengthy boundary change through LAFCO. He said the JPA formation and the related Prop 218 process took place around 2021–2022 and that Sutter Butte provided administrative support and advanced formation costs of about $700,000 over two to three years; the services agreement was amended to set the payback schedule.

The meeting record shows the consent calendar was approved by voice vote and that the board received the executive director's informational report; no formal action on the apportionment was recorded at this meeting. Unidentified Speaker 2 concluded the report and indicated no further action was required at this time.