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Hidden Springs Sewer Company reports stronger-than-expected quarterly finances
Summary
Treasurer Paul Powell told the board the company has healthy reserves and posted a quarterly operating income of $99,566, exceeding plan by $82,671; the report noted reserve liabilities of $1,479,000 and investment reserves of $1,520,000.
Paul Powell, identified in the meeting as the treasurer, presented the Hidden Springs Sewer Company financials for the quarter at the April 22, 2025 meeting and said the utility is in a strong position. He reported reserve liabilities of $1,479,000, investment reserves of $1,520,000, operating reserves of $313,000 and a checking account balance of $274,000. Quarterly income was $267,829, roughly $12,700 over budget, while total expenses were $168,263, about $69,936 less than budgeted.
Powell said the company had operating income of $99,566, which was $82,671 better than planned, and summarized, "We are in good shape overall from a balance sheet and reserve perspective." The board did not take additional financial action at the meeting; routine oversight will continue during upcoming budget reviews.
