Amador County – The Amador Water Agency board of directors today will consider financial plans for the Central Amador Water Project, while looking at forecasts with and without a proposed Gravity Supply Line project. The board opens its meeting 9 a.m. today at the agency office, with the CAWP draft financial plans part of the early agenda. The board reconvenes after lunch at 2 p.m. today at Mace Meadow Country Club, to consider the Gravity Supply Line. The board may carry over discussion of CAWP finances to the later session. The board will look at a rate studies submitted last week. One that includes the GSL, and another excludes the GSL. Financial Services Manager Mike Lee in a report for today’s meeting said the “CAWP financial plan was last updated by The Reed Group in September 2004.” He said the “plan serves as a planning and management tool to ensure that the operations and capital improvement needs of CAWP can be met in a financially sound manner.” Lee said the plans look at the next 7 years. He said the “earliest an increase could go into effect would be June 2010, so the board may want to consider making increases effective July 1st” of this year, 2011 and 2012. Both plans would raise rates a total of 33 percent over the next 7 years, including by 6 percent the first 2 years. In the plan without the GSL, the agency’s “sunk (GSL) costs” of $930,000 would be paid by a 30-year, 1 percent loan from the Amador Water System to 4 separate water districts making up CAWP. With the GSL project, the agency would be financing an $8.3 million USDA loan, with “an annual debt service payment of $375,000.” The plan said an estimated interest payment of $126,000 is projected for next fiscal year. The $930,000 sunk costs “to date would be reimbursed through the USDA financing.” Silver and Tiger Creek pump stations would cost an estimated $20,000 a year to be kept as backups. In both plans, the typical residential user’s monthly bill would go from $54 now to $58, and rise by about $3 a year through 2012. The plans only include 3-year rate plans. The plan without the GSL also included a $1 million CAWP wholesale storage tank in fiscal year 2012-2014, which was also outside the 3-year rate plans. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
Wednesday, 24 March 2010 18:00
AWA to Consider CAWP Finances With or Without GSL
Amador County – The Amador Water Agency board of directors today will consider financial plans for the Central Amador Water Project, while looking at forecasts with and without a proposed Gravity Supply Line project. The board opens its meeting 9 a.m. today at the agency office, with the CAWP draft financial plans part of the early agenda. The board reconvenes after lunch at 2 p.m. today at Mace Meadow Country Club, to consider the Gravity Supply Line. The board may carry over discussion of CAWP finances to the later session. The board will look at a rate studies submitted last week. One that includes the GSL, and another excludes the GSL. Financial Services Manager Mike Lee in a report for today’s meeting said the “CAWP financial plan was last updated by The Reed Group in September 2004.” He said the “plan serves as a planning and management tool to ensure that the operations and capital improvement needs of CAWP can be met in a financially sound manner.” Lee said the plans look at the next 7 years. He said the “earliest an increase could go into effect would be June 2010, so the board may want to consider making increases effective July 1st” of this year, 2011 and 2012. Both plans would raise rates a total of 33 percent over the next 7 years, including by 6 percent the first 2 years. In the plan without the GSL, the agency’s “sunk (GSL) costs” of $930,000 would be paid by a 30-year, 1 percent loan from the Amador Water System to 4 separate water districts making up CAWP. With the GSL project, the agency would be financing an $8.3 million USDA loan, with “an annual debt service payment of $375,000.” The plan said an estimated interest payment of $126,000 is projected for next fiscal year. The $930,000 sunk costs “to date would be reimbursed through the USDA financing.” Silver and Tiger Creek pump stations would cost an estimated $20,000 a year to be kept as backups. In both plans, the typical residential user’s monthly bill would go from $54 now to $58, and rise by about $3 a year through 2012. The plans only include 3-year rate plans. The plan without the GSL also included a $1 million CAWP wholesale storage tank in fiscal year 2012-2014, which was also outside the 3-year rate plans. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it. Latest from
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