HomeMy WebLinkAboutMinutes - Water Finance Subcommittee - 9/10/2012 ACTION SUMMARY MINUTES
ORO VALLEY WATER UTILITY COMMISSION
FINANCE SUBCOMMITTEE MEETING
SEPTEMBER 10, 2012
ORO VALLEY WATER UTILITY CONFERENCE ROOM
11000 N. LA CANADA DRIVE
ORO VALLEY, AZ 85737
CALL TO ORDER at 11:03 a.m.
PRESENT: Winston Tustison, Chair, Finance Subcommittee
Betty Shapiro, Subcommittee Member
Rich Verlaque, Commission 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 B
i. Revisions to the CAGRD costs
ii. Revisions to proposed rate increases
iii. Revisions to capital improvement projects
iv. Revisions to future debt financing
v. Ending cash balance
vi. Debt service coverage requirements
b. Discussed the results of Financial Scenario B
i. Meets all policies and bond covenants
ii. Equalized rate increases over the projection period
c. Consensus that Scenario B become the Preferred Financial Scenario to be
presented to the Water Utility Commission at their meeting on 9/10/12
Call to the audience
No public attendance at the meeting.
Adjourned at 11:30 a.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 10th day of September 2012.
I further certify that the -eting was duly called and held and that a quorum was present.
. 1 �
Prepared by:
Shirley eng, Water tility Adm' :tor