HomeMy WebLinkAboutMinutes - Water Finance Subcommittee - 8/20/2012 ACTION SUMMARY MINUTES
ORO VALLEY WATER UTILITY COMMISSION
FINANCE SUBCOMMITTEE MEETING
AUGUST 20, 2012
ORO VALLEY WATER UTILITY CONFERENCE ROOM
11000 N. LA CANADA DRIVE
ORO VALLEY, AZ 85737
CALL TO ORDER at 2:02 p.m.
PRESENT: Winston Tustison, Chair, Finance Subcommittee
Betty Shapiro, Subcommittee Member
Stacey Lemos, Finance Director
Shirley Seng, Water Utility Administrator
Philip Saletta, Water Utility Director
Discussion of the following item, no legal action taken:
1. Water Rates Analysis for FY 12-13
a. Discussed assumptions used in the analysis— Scenario A
i. Growth rates
ii. Proposed rate increases
iii. Capital improvements
iv. Inflation factor
v. Interest rates
vi. Future debt financing
vii. Debt service coverage
viii. Cash balance policy
b. Discussion on preparing an additional analysis— Scenario B
i. Re-evaluate capital improvement plan & related debt financing
c. Cost of service study will not be completed until summer of 2013
i. Will use the results of this study for the rates analysis in FY 13-14
d. Reviewed the draft schedule for the analysis as it relates to meeting dates
e. Scheduled next meeting for September 10, 2012 at 11:00 a.m.
Call to the audience
No public attendance at the meeting.
Adjourned at 3:30 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 20th day of August 2012. I
further certify that the mei ting was duly called and held and that a quorum was present.
Prepared by: ♦ . . s
Shirl-�.eng, Wate U �dm - trator