Cobb‑Marietta Water Authority numbers: water sales below budget, net income above expectations
Loading...
Summary
The Cobb‑Marietta Water Authority reported July figures showing water sales slightly below budget, net income above budget largely due to interest income, and ongoing capital projects with remaining CIP commitments.
A representative identified as Griff presented the Cobb‑Marietta Water Authority report to the Marietta Board of Lights and Water, summarizing financial and operational metrics for the period ending July 31.
Griff said the authority’s average water sales were 86,000,000 gallons per day for the month compared with a budgeted 90,000,000 gallons. Water sales revenue for the month totaled $9,900,000, about $30,000 below budget. Net income for the month was $5,300,000, which exceeded the budget by $456,000; year‑to‑date net income exceeded budget expectations by approximately $3,700,000. Griff attributed part of the positive variance to interest income on cash holdings.
Year‑to‑date capital spending totaled about $32.6 million, with a remaining annual capital‑improvement‑plan (CIP) commitment of roughly $59.6 million and cash reserved for CIP spending of approximately $52.4 million as of July. Griff said three linear pipe projects and three facilities projects are underway, four projects are in active design and the Cedar Crest connector had been completed.
Griff also noted year‑to‑date average rainfall at the authority’s gauge was 32 inches compared with a historical average of 34 inches for the same period, contributing to lower water demand; July water usage reached a five‑year low.
No board action was taken on the water‑authority report; Griff took questions and the board moved on to other agenda items.
