Amador County – The Amador Water Agency board Thursday will consider internal loans of $3.1 million for 5 water and wastewater systems around the county, and could also direct staff to prepare to run a line of credit to fix “cash flow” problems. The board will consider loan documents for “external funding,” that would be a “safety net” or contingency plan for the board. The board has looked at rate adjustments for the Central Amador Water Project retail system, and now will consider an internal loan for CAWP, and 4 other systems. The loans under discussion will include $1.5 million to 2 Camanche systems, and $800,000 to CAWP. Interim General Manager Gene Mancebo said the internal loans have been previously discussed by the board, and staff prepared resolutions for board consideration. One would authorize a loan from the Amador Water System’s “replacement reserve account” to CAWP Retail. Mancebo said Tuesday that it would be separate from an “external loan.” Finance Manager Michael Lee recommended the internal loan in a staff report prepared for Thursday’s meeting. The board will also consider the “draft financial plan and rate study” for CAWP, and will consider sending out rate increase notices to CAWP customers, per Proposition 218 requirements. Lee in the report said the CAWP plan has been reviewed several times, and the board will be given a financial plan update for the Amador Water System. Lee’s report said “several systems have not been meeting their cost of operations and have accrued operating deficits.” Resolutions with the item would approve loans and fund transfers from the AWS. The loans would include $800,000 to the CAWP retail system; $700,000 to Lake Camanche Wastewater District Number 11; $600,000 to Wastewater District Number 1; and $200,000 to the La Mel water system. The board will also consider approving a loan of $800,000 from the Martell Wastewater Replacement Reserve Account, to Lake Camanche Water District Number 7. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it. -
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Amador County – The Amador Water Agency board Thursday will consider internal loans of $3.1 million for 5 water and wastewater systems around the county, and could also direct staff to prepare to run a line of credit to fix “cash flow” problems. The board will consider loan documents for “external funding,” that would be a “safety net” or contingency plan for the board. The board has looked at rate adjustments for the Central Amador Water Project retail system, and now will consider an internal loan for CAWP, and 4 other systems. The loans under discussion will include $1.5 million to 2 Camanche systems, and $800,000 to CAWP. Interim General Manager Gene Mancebo said the internal loans have been previously discussed by the board, and staff prepared resolutions for board consideration. One would authorize a loan from the Amador Water System’s “replacement reserve account” to CAWP Retail. Mancebo said Tuesday that it would be separate from an “external loan.” Finance Manager Michael Lee recommended the internal loan in a staff report prepared for Thursday’s meeting. The board will also consider the “draft financial plan and rate study” for CAWP, and will consider sending out rate increase notices to CAWP customers, per Proposition 218 requirements. Lee in the report said the CAWP plan has been reviewed several times, and the board will be given a financial plan update for the Amador Water System. Lee’s report said “several systems have not been meeting their cost of operations and have accrued operating deficits.” Resolutions with the item would approve loans and fund transfers from the AWS. The loans would include $800,000 to the CAWP retail system; $700,000 to Lake Camanche Wastewater District Number 11; $600,000 to Wastewater District Number 1; and $200,000 to the La Mel water system. The board will also consider approving a loan of $800,000 from the Martell Wastewater Replacement Reserve Account, to Lake Camanche Water District Number 7. Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
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