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Sutter Butte Flood Control Agency reports $18.8 million in working capital, sets May preliminary budget presentation
Summary
At its regular meeting the Sutter Butte Flood Control Agency received a monthly financial report showing roughly $18.8 million in working capital, discussed pending state reimbursements and refinancing plans, and scheduled a preliminary budget presentation for May 13 with final adoption targeted in June.
The Sutter Butte Flood Control Agency on Thursday received its monthly financial report showing an ending working capital balance of about $18.8 million and noted roughly $19.8 million in pending receipts.
Shawn, the agency finance staff who presented the report, said the agency recorded assessment revenue from Sutter County of $750,000 that was applied to the operating fund and that the agency had received about $6.9 million through the end of January and about $10.4 million to date, with an approximately $3.5 million gap the presenter attributed to state reimbursement payments still expected.
That revenue picture supports the agency’s near‑term spending: expenditures through Jan. 31 were about $9.1 million, with large shares devoted to the Fur Lip project and several OWA projects including Robinson’s Riffle and Thermalito work. Shawn also reported an expected retention release of roughly $400,000 tied to recently closed projects.
On debt service, the agency made its April payment and outlined upcoming obligations and refinancing plans for 2025. Shawn cited remaining balances of roughly $250,900 on a 2013 issue and about $240,000 on a 2015 issue, and referenced a refinancing amount of approximately $4.5 million.
A board member asked whether the agency maintains an ad hoc finance committee given the size of the accounts; staff said the agency no longer uses an ad hoc finance committee because attendance was low and monthly board briefings provide detailed, public information.
The board moved on to program and project updates and will receive the agency’s preliminary budget at its May 13 meeting; staff said a final budget vote is planned for June. Shawn summed up the near‑term operating position by noting that after paying bills the agency expects to have close to $20 million available for upcoming projects.
The consent calendar was approved by voice vote earlier in the meeting. The board later moved into closed session and adjourned without recorded roll‑call tallies for those votes.
