title
Short Term Financial Plan
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Requested Action(s)
recommendation
Authorize the GSA to take on up to $250,000 in additional dept. This will be done in small increments and only as necessary to meet minimal financial obligations.
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Financial Impact:
Will increase debt service costs on future fee.
Background Information:
Due to the ending of Prop68 grants, lack of revenue sources and continued costs to even try to be compliant, the GSA portion of the District will need to incur further debts. The 604 account balance will need to remain greater than the 603 account deficit in order for the District to stay solvent and continue to uphold it's obligation to perform inspections, repair and maintenance on flood control systems.