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GMA adopts new fiscal reserve policy to set floors, ceilings and categories for agency funds
Summary
The Groundwater Management Agency adopted a fiscal reserve policy establishing three reserve categories—working capital, rate stabilization and water‑supply sustainability—and specified floors/ceilings intended to provide predictability for operations and rates.
The Groundwater Management Agency board on a unanimous vote of members present adopted a new fiscal reserve policy that creates three distinct reserve categories and establishes rules for their use.
Staff described the policy as replacing prior, less‑structured carryforward reserves with a framework intended to smooth operations, stabilize rates and fund longer‑term water‑supply projects. The three categories are: a working capital reserve to…
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