Title
Resolution - Approval of 2020 Operating Budget and Capital Improvement Plan (CIP) Budget - J Davis
Other Info
Submitted By: Sylvia Romero on behalf of John Davis
Department: Office of the Chief Financial Officer
Financial Impact and Cost/Benefit Considerations: Net margins of approximately $44.1 million as presented in the 2020 Operating Budget in addition to budgeted expenditures for CIP of $157.5 million.
Discussion
The Board may consider and adopt the operating and CIP budgets for 2020.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Cooperative adopt the Operating Budget and Capital Improvement Plan (CIP) Budget as presented this day for calendar year 2020; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designee, is authorized to take all such actions as needed to implement this resolution.