Finance Committee Minutes – September 15, 2015
For your consideration, please review the minutes for the Finance Committee Meeting from September 15, 2015:
To read the minutes, please open or download the pdf from the link above or you may see more below:
PRESENT: Donald Elliott, Chairman
Ronald E. Perry, Commissioner
John Cason, Commissioner
John Donaghy, Chief Financial Officer
Steve Swan, Executive Director
ALSO PRESENT: Thomas Boland, Commissioner
Chairman Elliott called the meeting to order at 2:00 PM.
PUBLIC COMMENT PERIOD
There being no citizens who wished to address the Commission, Chairman Elliott closed the Public Comment Period.
Commissioner Cason made a motion seconded by Commissioner Perry to adopt the minutes of the September 1, 2015 Finance Committee meeting. Motion carried 3-0-0.
Revenue Projections for 2015 – 2016 – J. Donaghy
John Donaghy addressed the Committee to discuss the revenue projection stating the bottom line has been basically flat and not really growing. The forecast for 2016 was based on expense and need for revenue to meet goals. There has not been a rate resolution and will need one to meet all goals. Steve Swan added that across the state the revenue has been going down. People are generally conserving water and using less. Other costs and incidents were discussed. It was stated that the staff are investigating 6-8 major complexes that were found to have the meters turned off. John Donaghy continued stating that JWSC is financially sound and our bonds are insured which helps our ratings. The Commission Report was discussed which included leak adjustments. Steve Swan suggested next years’ budget should include leak and pool adjustments. John Donaghy stated he is meeting with a different operating division each week to discuss the budget. The vehicles were discussed as capital purchases. Steve Swan updated the Committee on the burner and stated it will be replaced and the line item will change significantly. John updated the Committee on the conversion with Innoprise and stated Kalem Head, Meter Reading Supervisor, downloads the meter readings and uploads to the GEMS program. He has been testing the software and is doing a great job. Commissioner Boland stated the money allotted for the new Administration Building will not be on the balance sheet as it was paid for out of a separate fund.
Water Meter Presentation – K. Head
Kalem Head presented a Water Meter Presentation. He explained what the meters infrastructure is and how it works. There were questions asked about what happens if the meter is struck my lightening. Kalem’s research found 1 incident in which a meter exploded due to a lightening strike. It was very unlikely where a lightening strike would cause a spike in the meter readings. It was suggested that a question and answer section be added to the website to help answer customers questions like irrigation and confirmation of billing accuracies. The newer meters can allow customers to view their usage on line.
R&R Capital Projects – T. Kline
Mr. Swan requested the R&R Capital Project be deferred until later. He stated many of the agreements were verbal and the staff is finalizing the projects.
Mr. Swan updated the Committee members on upcoming events and stated the Master Plan is proceeding forward. He continued stating the new fire hydrants on Buckswamp Road are tagged “out of service” due to unfinished contracts to be closed by the county.
There being no additional business to bring before the Finance Committee, Chairman Elliott adjourned the meeting at 3:30 PM.