Title
Consider EAA staff recommendation to amend the 2025 EAA Operating Budget by increasing the Abandoned Well Fund appropriation by $150,000.
Body
STAFF RECOMMENDED MOTION:
Move the Finance/Administrative Committee recommend the board amend the 2025 EAA Operating Budget by increasing the Abandoned Well Fund appropriation for Professional Technical Services by $150,000.
SUMMARY:
The purpose of this agenda item is for the Finance/Administrative Committee to consider an EAA staff recommendation to amend the 2025 EAA Operating budget by increasing the appropriation for the Abandoned Well Fund by a total of $150,000. On February 11, 2025, the board authorized the General Manager to execute a settlement agreement with the Archdiocese of San Antonio whereby the EAA would facilitate the plugging of an abandoned well on church property in an amount not to exceed $150,000 and whereby the Archdiocese of San Antonio would repay the EAA in full over a defined period of time. This budget amendment simply allows funds to be appropriated from the EAA's restricted Abandoned Well Closure Fund for use to begin the facilitation of the plugging process.
The attached spreadsheet summarizes the proposed amendment discussed above.
STRATEGIC PLAN REFERENCE:
This agenda item supports the general EAA mission.
FISCAL IMPACT:
This proposed amendment would increase the 2025 Operating Budget by $150,000 and reduce the operating reserves in General Fund by the same amount.