Amador County – The Amador Water Agency board of directors last week received a new fiscal year annual report for 2010-2011, in a new format, and discussed ways to make it more understandable.
AWA General Manager Gene Mancebo said the financial update showed the agency’s overall financial position continued to improve, albeit at a “slow and steady pace.” He said $1.3 million in agency cash on Aug. 31 was almost $800,000 more than that date in 2010, and within 5 percent of the forecast by Agency Controller Marvin Davis.
Mancebo said an apparent $533,000 budget shortfall was corrected by noting that grants for a Camanche Groundwater Study and Gayla Manor Wastewater System improvements had been “booked” before they were received, so they are “not included in revenue, but they are included in the cash.”
Davis said cash receipts of $419,000 from the grants were reflected as earned revenues in prior fiscal years and could not be reflected on the current revenue and expense statements. Another $107,000 in internal reserve transfers was listed by the former finance director as new revenue. Mancebo said the two combine to reduce the overall shortfall.
Board President Don Cooper said the Budget & Finance Committee, made up of himself and Director Robert Manassero, spent 2-and-a-half hours with Davis on the report. Davis said his report compiled “probably close to a million transactions” over 12 months. He said the “figures are tying out” and “it shows that the accounting is done properly.”
Thomas said he would review the full report on his own, and wanted to hear from the Committee. Cooper said he thought it was “a good tool to move forward” with and it was “tough to get the whole accrual system in place.” It takes about three weeks to get a monthly report, putting review about a month behind.
Director Art Toy asked if there was a “different way to present the information so the salient points jump out” and “so it’s not a great blizzard of numbers?”
Manassero said it has good detail, and other directors are invited to attend the committee meetings. He said Davis’ system changes were extensive.
Davis said “this is a whole year of transactions. Your monthly reports won’t be this big,” but they will get bigger through a year, as months are added.
Cooper suggested that they do a workshop on the new reporting system, and also that Davis sit with Mancebo and see if they can create a cover letter to make this easier to understand, or point out key issues. The document is on the agency’s website.
Story by Jim Reece This email address is being protected from spambots. You need JavaScript enabled to view it.
