Hidden Springs Sewer Company reports strong reserves; no 2025 capital upgrades budgeted

At the Hidden Springs Sewer Company meeting on March 11, 2025, Treasurer Paul Powell reported the utility’s cash and investment position and said there are no capital upgrades budgeted for 2025. Powell reported a checking account balance of $372,000, a money market balance of $270,000 and an investment reserve totaling $1,500,000 earning about 4.4%.

Powell told the board that accounts receivable were about $17,500 and that income as of January 2025 was $254,000 — roughly $169,000 above the month-by-month budgeted figure because the utility receives some revenue quarterly. He said total expenses through January 2025 were $33,787.00 and that several invoices were missing from the system; those charges are expected to appear in the March financial statements. Powell concluded that, on balance, expenses are in line with the adopted budget.

Board members discussed the bookkeeping detail that sewer connection fees received from "CCR" are reimbursed monthly to Cartwright Ranch LLC; the last reimbursement recorded was in September 2024 for connections paid in August 2024. The board reviewed a liability figure that was initially shown at about $45,000 in January 2025 and determined the correct liability through February 2025 is $51,700. The treasurer said the discrepancy reflects timing and invoices not yet processed. The board did not vote on any new budget items at the meeting. The next regular financial update was scheduled for the March financials.