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Board approves $2.2 million retained-earnings spending plan to shore up stabilization and rehab pumps
Summary
The Wata Water Board approved a plan allocating $2,218,051 in retained earnings — including $600,000 to stabilization, $850,000 for pump rehabs, $200,000 for Copa Cup pump station improvements, and $120,000 for reservoir equipment.
The board approved a retained-earnings spending plan after finance staff reported an FY25 close-out balance of $2,218,051. The plan moves $600,000 into the stabilization account (toward a recommended ~10% operating-budget target), allocates $850,000 for raw and finished water pump rehabs and related electrical upgrades, commits $200,000 for Copa Cup pump station improvements (roofing, telemetry and facility repairs) and sets aside $120,000 for reservoir maintenance equipment such as a flail mower.
Staff said retained earnings arise when enterprise revenues exceed expenses and that using these funds for some capital work avoids adding long-term debt service to customer rates. Approving the plan leaves an estimated retained-earnings balance of roughly $448,051 available for FY27 cash flow, staff said.
The board moved to approve the spending plan on a voice vote; staff will proceed with procurement or loan-authority requests where projects require bond or council action.
