Water company to use $4.0M retained earnings for mobile PFAS treatment system after Well 15 tests over state limit

The Nantucket Finance Committee voted unanimously March 11 to recommend Article 16: a $4,000,000 transfer from the water company's certified retained earnings to purchase and install a mobile PFAS treatment system intended to treat contaminated shallow wells (Well 15 and Well 16).

Brian, finance staff, introduced the article and said the proposed $4,000,000 appropriation was changed from a borrowing to a direct use of the water company's retained earnings after discussion with the water company. "The water commission actually voted to authorize the expenditure directly from retained earnings. So we have changed that from a borrowing to a full use of retained earnings," Brian said.

Mark Bolett, director of the Wannacomet Water Company, provided a cost breakdown and technical rationale for the selected system. He said the total $4,000,000 includes equipment, site work, engineering and a building to enclose the pad: equipment currently staged in Portland, Maine, quoted at $1,400,000;…