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Hidden Valley Lake board adopts FY26 budget, updates investment policy and sets regular meeting time
Summary
The Hidden Valley Lake Community Service District approved its FY26 budget, amended its investment policy to align with Government Code 53600, adopted a COLA policy tied to Bay Area CPI effective July 1, and set regular board meetings for the third Wednesday at 6 p.m.
The Hidden Valley Lake Community Service District board on Tuesday adopted the district's FY26 budget and a set of companion governance items, including an amended investment policy and a clarification of the district's COLA (cost-of-living adjustment) calculation.
S1, identified in the meeting as the district's general manager, told the board the district currently has zero vacancies after filling two positions in May and is implementing a COLA policy effective July 1. "We are implementing our COLA policy for July 1," S1 said, and noted a compensation study is underway.
Board members discussed how to calculate the CPI-based COLA and asked that the policy language be clarified so the February-to-February CPI calculation is transparent. S1 said the correct calculation in the packet yields 2.8% and called for clearer drafting so the public and board can follow the math.
Directors also reviewed the district's investment policy to ensure compliance with Government Code section 53600, including limits on certain short-term instruments and the requirement to rely on a current reputable rating agency rather than a named, hard-to-find source. After amendments to update time limits and credit-rating language, the board approved the investment policy as amended.
The board voted to adopt the FY26 budget by roll call and approved a separate resolution setting the board's regular meetings for the third Wednesday of each month at 6 p.m., effective in July. The board also authorized a transfer of funds into the Local Agency Investment Fund (LAIF) as part of its cash-management approach.
The general manager said staff will return with a personnel-committee review to implement the clarified COLA calculation and to update compensation-policy language as directed.
Next steps: the district's next regular meeting will be July 16 at 6 p.m., when any ordinance updates or rate-study follow-ups relating to the budget will be considered.
