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Menands board hears pitch for Waterworth modeling platform; purchase decision tabled
Summary
A Waterworth representative showed the Menands Village Board how a living financial model could be used to plan water rates, capital projects and grant applications tied to the South End sewer work; the board tabled a final purchase decision until its Jan. 6 meeting.
A representative from Waterworth presented to the Menands Village Board on Dec. 16, outlining how the company's cloud-based financial modeling platform could build 'living' multi-fund forecasts to guide water rates, capital planning and grant applications tied to the village's forthcoming South End sewer project. The presentation emphasized the platform's visualization tools, a rate engine that analyzes billing data, and ongoing advisory support.
Why it matters: Board members said the tool could make project trade-offs and rate impacts easier to show to the public and to grant reviewers, and could be used beyond utilities to model the general fund and capital needs. Speaker 6 (Waterworth representative) said the product draws on audited financials and historical public data, and that assumptions such as inflation would be set in collaboration with village staff.
Board discussion centered on scope, pricing and data reliability. Speaker 1 and others asked whether the platform can model different rate scenarios using digital meter reads; Speaker 6 responded that it can and that finer-grained billing data permits more targeted rate design. On data provenance he said the system is populated with audited year-end financials and that Waterworth's consultants layer reasoned assumptions (for example CPI-based inflation estimates) which the village would review.
After questions, a board member said he was ready to approve a purchase but moved to table the motion to allow one absent colleague to weigh in. The board agreed to delay a decision until the Jan. 6, 2025 meeting. Speaker 6 said he would remain available to demonstrate platform scenarios and to provide references from small communities that have used the product.
Next steps: The board will revisit the subscription at its Jan. 6 meeting. In the interim, staff and Waterworth are expected to clarify final pricing, subscription components, and the exact data the village would need to provide to populate the model.
