HomeMy WebLinkAboutMinutes - Water Finance Subcommittee - 7/12/2012 ACTION SUMMARY MINUTES
ORO VALLEY WATER UTILITY COMMISSION
FINANCE SUBCOMMITTEE MEETING
JULY 12, 2012
ORO VALLEY WATER UTILITY CONFERENCE ROOM
11000 N. LA CANADA DRIVE
ORO VALLEY, AZ 85737
CALL TO ORDER at 11:02 a.m.
PRESENT: Winston Tustison, Chair, Finance Subcommittee
Betty Shapiro, Subcommittee Member
Richard Verlaque, Commission Member
Shirley Seng, Water Utility Administrator
Philip Saletta, Water Utility Director
Discussion of the following items, no legal action taken:
1. Review of the Oro Valley Water Utility Budgets for FY 12-13
a. Discussion on the budgets for the 3 funds that comprise the Water Utility Enterprise
Fund. Reviewed both revenue projections & budget expenditures.
i. Operating Fund
ii. Alternative Water Resources Development Impact Fee Fund
iii. Potable Water System Development Impact Fee Fund
2. Discussion on the Water Rates Analysis for FY 12-13
a. Discussed assumptions that may be used in the analysis
i. Debt for future CAP water projects
ii. Debt service reduction from Series 2-12 Bond Refunding
iii. Capital improvements—AMI project added this year
iv. Review of service fees and charges—specifically late fees
b. Cost of service study will not be done until summer of 2013
i. Will use the results of this study for the rates analysis in FY 13-14
c. Reviewed the draft schedule for the analysis as it relates to meeting dates
Call to the audience
No public attendance at the meeting.
Adjourned at 12:10 p.m.
I hereby certify that I prepared the foregoing minutes and that they are a true and
correct copy of the minutes of the Finance Subcommittee meeting held on the 12th day
of July 2012. I further certify that the meeting was duly called and held and that a
quorum was present. •
Prepared by: Ai
Shirley Seng, Wate Utility Admini -tor