Fiscal Policies

Monterey One Water establishes financial policies to provide a framework to prudently manage resources, to ensure internal controls, and provide accountability to the public, as summarized in the Financial Policy Summaries (PDF) and listed individually:

Capital Assets

Assets greater than $5,000 with lifespans greater than one year (estimated lives of 15-75 years)
Review the Capital Assets (PDF)

Capital Improvement Plan (CIP) / Budget

The Board approves any budget changes greater than $75,000 or to increase a fund’s budget
Budget for Capital Improvement Plan (PDF)

Debt Management

125% debt service coverage is required, 170% coverage is recommended per our policy
View the Debt Management (PDF)

Investments

Our highly rated investment pools offer same day liquidity and diversified portfolios
Review the Investments (PDF)

Purchasing

Goods and services greater than $75,000 and public projects greater than $35,000 require board approval
Take a look at the Purchasing (PDF)

Reserves

50% of annual operating budget and 10% of 10-year capital budget
View the Reserves (PDF)

Surplus Property

Requirements for disposal of property vary depending on the type involved
Review the Surplus Property (PDF)