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Water and wastewater revenue outperformed; staff notes $8.5 million COP issuance
Summary
Staff reported water sales and wastewater receipts exceeded the 2025 budget by about $600,000 overall and said the city completed a COP issuance of a little more than $8.5 million to support projects and reimbursements.
Rick reported that the confined water and wastewater fund produced roughly $600,000 more in operational revenue than budgeted for 2025, with water sales about $300,000 above expectation and wastewater about $200,000 over.
He also told the board the city completed a certificate of participation (COP) issuance of "a little more than 8,500,000" and that staff was working with Chuck to manage reimbursements and contract timing tied to those proceeds. Rick said the COP issuance was not included in some summary slides to avoid distorting the operational comparisons but that it is part of the city’s financing for planned projects.
