Greenwood Stormwater Board reviews quarterly finances, approves February minutes

The Greenwood Stormwater Board on March 12 reviewed unaudited, cash-based financial results through February 2024 and approved minutes from its February meeting. Cole called the meeting to order and the board voted to approve the prior meeting minutes.

Adam, with Stone Municipal Group, presented the quarterly check-in and said the numbers he showed were "cash based, unaudited, from 02/2024 for the full year." He described a new live link that "can be made available in your agendas and in between meetings" to let board members monitor cash balances and investment balances ahead of potential large project requests.

The presentation, Adam said, is intended "to comply with municipal code regarding rate sufficiency as well as sort of track and hold the, hold ourselves essentially accountable to the rate study, that was originally conducted for the years 02/2021 through the, 02/2025." Adam also referred to revenues derived from an earlier rate study, saying "these are the revenues from the original 02/2020 rate study." He reported that quarterly results through February kept "relatively close to plan" and that by the end of the year the utility was "just slightly ahead," noting one quarter included a billing receipt that affected the result.

A motion to approve the minutes from the last meeting in February was made and seconded; the board voted "Aye" three times and the motion carried. No further formal actions or votes were recorded in the transcript excerpt provided. The meeting then proceeded with the financial presentation and related discussion. No specific future action items, budget amendments, or project approvals were recorded in the provided transcript excerpt.

The presentation materials and the live monitoring link were described as available to board members through agendas going forward; Adam said the change was made "in the spirit of trying to provide more transparent information to the board."