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Weatherford utility staff recommends keeping $800,000 annual transfer; reserve target remains $6 million
Summary
City utility staff told the Weatherford Municipal Utility Board that the Lake Benbrook pumping reserve currently holds about $4.6 million after a full $800,000 transfer; staff recommended maintaining the $800,000 annual transfer and the board took no formal action, leaving the $6 million target in place.
The Weatherford Municipal Utility Board on Tuesday received an annual update on the Lake Benbrook pumping reserve fund and staff recommended maintaining the current practice of transferring up to $800,000 per year into a reserve that has a $6,000,000 target balance.
The recommendation came as Rick Schafer, speaking for utility staff, summarized the policy’s purpose: to mitigate the cost of purchasing and pumping water through the city’s Tarrant Regional Water District (TRWD) contracts so the utility can avoid surcharges to customers during drought. Schafer said the reserve currently stands at about $4.6 million after transferring the full $800,000…
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