Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Finance update: three pay-period impact, sewer revenue up 12%, PSC report due May 1; water rate case options to be studied
Summary
The commission heard that an extra pay period boosted costs in the electric utility this month, sewer revenue rose 12% year-over-year due to a rate increase, the utility has $91,000 in equipment reserve, and staff will prepare the annual PSC report due May 1 and explore a full water rate case.
Finance officer John Laszczkowski told the commission that the electric utility was affected this month by three pay periods (a twice-yearly occurrence) and that without the extra pay period the electric utility would have been at breakeven. He said sewer revenue increased 12% compared with last January due entirely to a recent rate increase, operating cash remains stable, and the equipment reserve holds $91,000.
Laszczkowski said auditors completed fieldwork and staff will complete the annual Public Service Commission (PSC) report by May 1. He also said staff will discuss options for filing a full water rate case. Separately, he and Mike Sanborn will focus on a pending software conversion to Caselle; virtual training is expected to be finished by the end of April.
