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Water utility debt for NERDS project drives large fund balance drawdown in manager'recommended budget
Summary
CFO Dave Gephart told council most of the townwide fund balance decline in the FY2026 recommended budget is attributable to NERDS water system spending and recent debt issuances, prompting staff to recheck ending balances for the tentative budget.
Oro Valley's Chief Financial Officer Dave Gephart told the council on May 5 that the townwide fund balance projection for the manager'recommended FY2026 budget declines by about $32.1 million compared with the current year, and he said roughly $24.7 million of that decline is due to spending and debt for the Northwest Recharge Recovery Delivery System (NERDS) project in the water utility.
Gephart said the…
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