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Pender County Utilities proposes staffing changes, meter upgrades and tap incentive as grants and cash fund next-year projects
Summary
Anthony Colon, Pender County utilities executive director, told the board at the retreat that the countys water and sewer enterprise holds roughly $68 million in outstanding debt and reported about $12.04 million in total utility revenues in the most recent audited year.
Anthony Colon, Pender County utilities executive director, told the board at the retreat that the countys water and sewer enterprise holds roughly $68,000,000 in outstanding debt and reported about $12.04 million in total utility revenues in the most recent audited year.
Colon said operating revenue available for debt service in fiscal 2024 was about $5.9 million and that debt service that year was about $4.1 million, producing roughly a 1.43 debt-service coverage ratio. He and Davenports analysis showed the utilities have tightened cash positions because of heavy capital spending but expect reserves to rebound as reimbursements and new connections materialize.
The utilities presentation outlined ongoing and planned projects for fiscal 202529 and 2026: a Maple Hill automatic meter infrastructure (AMI) replacement (meters, setters, boxes), a C. S. Hill elevated tank and well work, completion of a 421 corridor…
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