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Executive director: projects remain in green; authority reports $23.84 million cash position
Summary
Authority staff reported progress on the solar initiative, High Bay Garage easement, Brookline Area Sewer Rehabilitation and pump station work, and listed a cash net position of $23,840,603.84; the board was told an expected $1,026,000 municipal payment remains outstanding.
The authority’s Executive Director provided a status update on capital projects and the organization’s finances at the Feb. 3 regular meeting, describing most projects as on track and reporting the authority’s cash net position.
On projects, the Executive Director said the solar project (the authority joined Omnia) is moving forward with the board selecting Schneider Electric via the Omnia cooperative; staff are working with a developer on contract language. The High Bay Garage easement was delivered with a notary letter addressing a missing signature and will be filed with the county. Brookline Area Sewer Rehabilitation is 33% complete for main‑to‑house work, with 70 lead/copper replacements (LCRs) completed and manhole rehabilitation finished; the Executive Director said the project is running slower than scheduled but remains in the “green” category: "The project is going slower than it was scheduled to, but it's still in the green category," the Executive Director said.
On facilities, CME is performing QA/QC on Western Canal pump station plans; Commerce Street pump station is progressing with painting and equipment installation but experienced delays from recent snow and utility service scheduling.
On finances, the Executive Director provided several figures: receipts for the period were $1,504,533.95; penalties for the month were $9,247.81; monthly expenditures listed at $417,508.18; and the total cash net position reported was $23,840,603.84 (unrestricted $1,522,278.84; restricted $14,605,030.63; designated $7,713,294.37). The director said the authority’s Somerset County American Rescue Plan grant ($3,000,000) was exhausted, and the authority is awaiting a $1,026,000 check from the township which will reduce outstanding invoicing; staff also expect a roughly $50,000 credit from an audit of New Brunswick water readings.
The board noted the financials and project status and proceeded to routine agenda votes. Staff signaled plans to start the new budget process and to present proposed rule and rate amendments for privately operated communities in Franklin Township in a future meeting.
