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Executive director: projects on schedule, finance snapshot shows $20.3 million net cash position
Summary
The Authority’s executive director reported that active projects are on schedule and within budget, listed multiple pump-station and sewer projects, and presented a financial summary showing a total net cash position of $20,298,299.68; the board was informed of grant reimbursements and a recent land purchase.
The Franklin Township Sewerage Authority’s executive director reported that all active projects are moving forward and are generally on schedule and within budget, and provided a month- and fiscal-year financial snapshot.
In a project update the director listed active work including a platform migration in the finance program, the High Bay Garage and the Somerset Street pump station, Brookline Avenue sewer rehabilitation, the Western Canal Pump Station rebuild, Commerce Drive Pump Station rehabilitation, and Shirley Avenue property acquisition. The director said most projects were “green” (on time or ahead of schedule), noted an administrative delay related to the High Bay Garage with the state Department of Environmental Protection (DEP), and said an engineer is conducting a survey for the recently negotiated land purchase on Shirley Avenue to record metes and bounds for settlement paperwork.
The executive director added a subproject titled "ARP Brookline grants" to the active project list, citing a $3,000,000 contribution from Somerset County and approximately $2.02 million from Franklin Township to be submitted for grant reimbursements and tracked on the report. The director also reported routine engineering work including a new water meter installation at Harrison Towers and a flow study.
On finances the director reported the Authority received $239,896.29 in checks for December and a year-to-date collections total of $9,040,888.55. The Authority had an open balance due for non-leader billing of $781,518.51 and penalties for December totaling $13,428.34. Expenditures for the month (as of Nov. 30) were $2,417,085.82 and fiscal year-to-date expenditures were $6,305,943.54. The director said the Authority is 58.1% through its budget measure and 50% through the fiscal calendar. Cash balances were reported as unrestricted $1,894,464.24; restricted $13,776,099.94; designated $4,627,735.50; for a total net cash position of $20,298,299.68.
Other operational notes: a volunteer firefighter policy is under preparation by the Authority attorney and will be presented to the personnel committee; a staff luncheon and pump-station tour were scheduled for Jan. 11; and the director said there were no accidents reported for the month. The director also told the board that the upcoming vote would include amendments to rules, rates and regulations and multiple routine resolutions.
The board accepted the executive director’s report and proceeded to the resolutions portion of the agenda.
