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Waterworks financials: revenues up about $1 million year-over-year; O&M lines mixed
Summary
Finance staff reported operating revenue gains and mixed expense positions across divisions; board approved monthly payments totaling $855,773.86 and staff said they will reclassify some distribution expenses.
Finance staff told the Board of Water Commissioners on Feb. 27 that operating revenues for recent billing cycles are higher than last year and that the utility remains "in very good shape" financially.
Mia, the utility’s finance presenter, said operating revenue for billing cycles covering August through December is up about $1 million compared with the prior year and that water sales and service charges were higher, in part following a dry summer.
Mia reported division-level…
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