Caribou Utility District accepts August financial reports, trustees discuss December budget timeline

The Caribou Utility District Board of Trustees on Sept. 10 approved the Aug. 19 minutes and accepted financial reports for the period ending August 2025, and trustees discussed the district’s upcoming budget schedule and insurance cost estimates. "The figure that is here today, of course, represents August, but I paid all of the, September today or this week for the water," a district staff member said, describing cash flows on the water side.

The board voted to approve the minutes and later moved to accept the financial reports without further discussion. Trustees were told water revenues were at roughly 66–67% of budget through the year and water expenses (excluding debt service) were about 67% of budget. Wastewater revenues were reported near 74% with expenses about 66%.

Trustees asked about specific line items. Insurance for general liability on the water side was reported at 91% of budget; staff clarified liability premiums are paid twice a year on a July-to-July policy year. The district also received a sizeable refund from an audit of workers’ compensation, which offset part of that expense, and staff explained the refunds come from the pooled member mechanism used by MMA.

Board members discussed when to begin drafting next year’s budget. Staff said work typically begins in December with finalization in January, though last year’s schedule slipped later; the board agreed having a proposed budget by December would allow any cost-of-living adjustments to take effect in January rather than retroactively. Staff said John is working on reformatting account descriptions to align water and wastewater accounts for easier year-to-year comparison.

No formal action beyond approving the minutes and accepting the financial reports was taken on the budget timing at the meeting. Trustees requested the December target for a draft budget so adjustments can be made before year-end.