HomeMy WebLinkAboutMinutes - Water Finance Subcommittee - 7/13/2022MINUTES
ORO VALLEY WATER UTILITY COMMISSION
FINANCE SUBCOMMITTEE
REGULAR SESSION
July 13, 2022
WATER UTILITY CONFERENCE ROOM
11000 N. LA CAÑADA DRIVE
REGULAR SESSION AT OR AFTER 10:00 AM
CALL TO ORDER - Chair Marek called the meeting to order at 10:05 a.m.
ROLL CALL
Present: Tom Marek, Chair
Chuck Hollingsworth, Member
Robert Milkey, Member
Staff Present:Peter A. Abraham, P.E., Water Utility Director
Mary Rallis, CPA, Water Utility Administrator
CALL TO AUDIENCE - No speakers.
REGULAR SESSION AGENDA
1.REVIEW AND APPROVAL OF THE JANUARY 11, 2022 REGULAR SESSION MEETING MINUTES
Motion by Member Robert Milkey, seconded by Member Chuck Hollingsworth
Vote: 3 - 0 Carried
2.REVIEW AND DISCUSSION REGARDING THE UTILITY'S CASH RESERVE POLICY IN THE
OPERATING FUND
Water Utility Director Peter Abraham and Water Utility Administrator Mary Rallis reviewed Policy A-1d
regarding the cash reserve, the AWWA cash reserve policy guidelines and the Utility Summary
Financials.
Member Milkey expressed concerns about the Wildan Report's 5 year rates projections and suggested
the rate increases should be more evenly spread out over the 5 years.
The Subcommittee and staff discussed the following items regarding the cash reserve:
-How funds for emergent maintence are accrued and allocated
-Removing the debt service payment from the cash reserve so that the cash reserve number is
accurate
FUTURE AGENDA ITEMS
FUTURE AGENDA ITEMS
Revisit removing the debt service payment from the cash reserve in September to coincide with the normal rates
studies.
ADJOURNMENT
Motion by Member Chuck Hollingsworth, seconded by Member Robert Milkey to adjourn the meeting at
11:06 a.m.
Vote: 3 - 0 Carried
I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular session of the
Town of Oro Valley Water Finance Subcommittee of Oro Valley, Arizona held on the 13th day of July, 2022. I
further certify that the meeting was duly called and held and that a quorum was present.
___________________________
Nicole Noble
Senior Office Specialist