HomeMy WebLinkAboutMinutes - Water Finance Subcommittee - 10/20/2015 ACTI ON SU tVl MARY M I N UTES
ORO VALLEY WATER UTI LITY COM M ISSION
� FINANCE SUBCOMMITTEE MEETING
OCTOBER 20, 2015
� WATER UTILITY CONFERENCE ROOM
11000 N. LA CANADA DRIVE
ORO VALLEY,AZ 85737
CALL TO ORDER at 9:00 AM
PRESENT: Winston Tustison, Chair, Finance Subcommittee
Javier Arriaga, Member, Finance Subcommittee
Shanna Weagle, Commission Member
- Shirley Seng,Water Utility Administrator
Jeffrey Kane, Meter Operations Supervisor
Philip Saletta, Water Utility Director
Stacey Lemos, Finance Director
Call to the audience
No�one was present.
Discussion of the following items occurred and no action was taken: �
1. Discussion and possible action regardirrg water rates analysis
a. Reviewed baseline proforma for all funds
b. Reviewed assumptions for financial scenario 1 ,
i. Same as the baseline except for the addition of new debt and annual rate increases
c. Discussed the proposed water rate increases for the 5-year projection period
d. Discussed the proposed rates for FY 2015-16
e. Reviewed and discussed financial scenario 1 incorporating the new debt and rate increases-
handout
. i. Scenario meets all revenue requirements, cash reserve palicy and debt service
coverage requirements ,
f. Briefly reviewed the schedule for the rate setting process
, g. Consensus of subcommittee members that financial scenario 1 become the preferred financial
scenario in the water rates analysis report
Future Agenda Items: Water Rates Analysis Report
Adjourned at 9:42 AM �
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 October 2015. I further certify that the meeting
was duly called and held and that a quorum was present.
Prepared by:
Shirley Seng,Water tility mi ' trator
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