HomeMy WebLinkAboutMinutes - Water Finance Subcommittee - 8/24/2010 ACTION SUMMARY MINUTES
ORO VALLEY WATER UTILITY COMMISSION
FINANCE SUBCOMMITTEE MEETING
AUGUST 24, 2010
ORO VALLEY WATER UTILITY CONFERENCE ROOM
11000 N. LA CANADA DRIVE
ORO VALLEY, AZ
CALL TO ORDER at 5:35 p.m.
PRESENT: Winston Tustison, Chair, Finance Subcommittee
Elizabeth Shapiro, Member, Finance Subcommittee
Philip C. Saletta, Water Utility Director
Shirley Seng, Water Utility Administrator
Discussion of the following items, no legal action taken:
1. Water Rates Analysis
a. Discussion on updated assumptions to be used in the financial analysis
i. no increase in the base rates for all 5 years of the projection period
ii. reduced increases in the commodity rates for the last 2 years
iii. reduced increases in the GPF
iv. increased CAGRD costs by $200,000 per year to allow for CAP water
wheeling costs
v. included $1 million for CAP water wheeling infrastructure needs.
b. Discussion on the proposed financial scenario.
i. Financial scenario met all policies & bond covenants.
ii. Minimal rate increases—no rate shock.
iii. Cash funding future existing system improvements
iv. No need for additional financial scenarios.
c. Discussion on preliminary work schedule to move forward with the water rates
analysis.
Call to the audience
No public attendance at the meeting.
Adjourned at 6:10 p.m.
Prepared by: Shirley Seng, Water Utility Administrator