2025 05-20 CC Packet - Laserfiche WebLink

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INITIAL DRAFT 4-14-25 12 budget typically occurs at the June Board meeting, but can occur at a different meeting as the Board may determine is appropriate. (d) SSU Rate Approval. The Board shall consider and act to approve the SSU rates. This review and approval typically occurs at the August Board meeting, but can occur at a different meeting as the Board may determine is appropriate. (e) SSU Charge Certification. The Board shall act by November 1st each year to certify the SSU charges to the County Auditor for collection on the upcoming year’s property taxes. (f) Final Budget Approval. The Board shall act to approve the final budget for the upcoming year before December 31st each year. 6.2 Funding. The annual budget is funded by one or more of the following: (a) The primary source of funding for the annual budget is the SSU charges imposed on properties within the watershed each year pursuant to the special legislation. (b) VLAWMO may also receive grants to help fund specific capital improvements. (c) If the funds collected from the SSU charges and grants are not sufficient to fully fund an approved budget, the Board may exercise any other authority available to it under law to fund the budget including, but not limited, Member assessments. 6.3 Member Assessments. (a) Authorized. A Member assessment may be imposed to cover an anticipated shortfall in VLAWMO’s annual budget. A Member assessment amount shall be calculated using the formula set out in this section. At least 10 days prior to the meeting at which the Board considers acting on a proposed Member assessment, VLAWMO shall provide each Member written notice of the proposed Member assessment that identifies the amount to be paid by each Member. Members shall be given an opportunity to be heard at the meeting before the Board acts on the Member assessment. A Member assessment must be approved by at least a 2/3 majority of the full Board by no later than September 1st for collection in the following year. If approved, VLAWMO shall notify each Member in writing of the approved Member assessment amount. (b) Formula. To the extent a Member assessment is established, it shall be calculated based upon the following formula: (1) Forty percent (40%) based upon the assessed valuation of all real property of each government unit within the Area;