Amador County – The Amador Water Agency board of directors Thursday discussed revenue shortfalls that were bad in April and worse in May, leaving a gap between budget revenue and expenditures. General Manger Gene Mancebo said May 2010 numbers show revenue down $500,000 compared to last May, and this April was $200,000 down from April 2009. He said that should be taken into account as they discuss the budget July 22nd. The board approved the budget last week, with layoffs equivalent to 4 full-time employees. Mancebo said the board on July 22nd will look at whether to make a 4% rate increase in the service area known as the Amador Water System. They must also look at “debt service coverage” and whether they can lower the amount they pay toward Amador Transmission Pipeline financing. The board must also look at a cash flow problem, which Mancebo said “has the potential to be much more significant than the other 2 items.” Vice President Debbie Dunn said May “actuals” were e-mailed to the board by Finance Manager Mike Lee on July 1st, and she would have liked to have had those numbers before approving the budget earlier that day. Lee was on vacation this week, but last week warned of eminent cash problems, saying agency “operating money,” or total cash, was $500,000. He said the agency was “marginally close” to being able to pay July bills, and it was a “critical juncture” to “be able to make the bond payment in 6 months.” Lee said “cash isn’t there,” due to the fact of “what’s coming in the door, what’s going out the door.” Also last week, Mancebo said “we know we are at the ragged edge,” and options to cut costs could potentially come from furloughs, but he did not know how much more they could reduce costs, other than salaries and benefits. In a staff report, Engineering Manager Erik Christesen announced some development moves, including that the Wildflower Subdivision in Ione has a new owner. He said Wal-Mart is ready to take water, and Pine Bluff has sought to extend its permits. Quail Ridge owners heard about the AWA’s 5% conditional will-serve fee payments, and applied for 10 of those, instead of 82, in “first phase” developing. Christesen said a Big 5 sporting goods store has taken over about 5 Martell storefronts including the former home to Mountain Mike’s Pizza. The storefronts are between Save Mart and Triple A Insurance. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
Friday, 09 July 2010 06:21
AWA Talks Budget, Sees Cash Flow Slump Worsen
Amador County – The Amador Water Agency board of directors Thursday discussed revenue shortfalls that were bad in April and worse in May, leaving a gap between budget revenue and expenditures. General Manger Gene Mancebo said May 2010 numbers show revenue down $500,000 compared to last May, and this April was $200,000 down from April 2009. He said that should be taken into account as they discuss the budget July 22nd. The board approved the budget last week, with layoffs equivalent to 4 full-time employees. Mancebo said the board on July 22nd will look at whether to make a 4% rate increase in the service area known as the Amador Water System. They must also look at “debt service coverage” and whether they can lower the amount they pay toward Amador Transmission Pipeline financing. The board must also look at a cash flow problem, which Mancebo said “has the potential to be much more significant than the other 2 items.” Vice President Debbie Dunn said May “actuals” were e-mailed to the board by Finance Manager Mike Lee on July 1st, and she would have liked to have had those numbers before approving the budget earlier that day. Lee was on vacation this week, but last week warned of eminent cash problems, saying agency “operating money,” or total cash, was $500,000. He said the agency was “marginally close” to being able to pay July bills, and it was a “critical juncture” to “be able to make the bond payment in 6 months.” Lee said “cash isn’t there,” due to the fact of “what’s coming in the door, what’s going out the door.” Also last week, Mancebo said “we know we are at the ragged edge,” and options to cut costs could potentially come from furloughs, but he did not know how much more they could reduce costs, other than salaries and benefits. In a staff report, Engineering Manager Erik Christesen announced some development moves, including that the Wildflower Subdivision in Ione has a new owner. He said Wal-Mart is ready to take water, and Pine Bluff has sought to extend its permits. Quail Ridge owners heard about the AWA’s 5% conditional will-serve fee payments, and applied for 10 of those, instead of 82, in “first phase” developing. Christesen said a Big 5 sporting goods store has taken over about 5 Martell storefronts including the former home to Mountain Mike’s Pizza. The storefronts are between Save Mart and Triple A Insurance. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it. Latest from
- Richard Forster previews this week's Amador County Board of Supervisors meeting with host, Tom Slivick. (2 of 2)
- Richard Forster on TSPN TV News December 7, 2015 (1 of 2)
- Ebbetts Pass (State Route 4) Closed for Winter
- State HWY 89 Closed for the Winter
- Richard Forster on TSPN TV News November 23, 2015 (2 of 2)
