Assessing Water Systems’ Financial Capacity: Financial Basics Presenters: Olga Morales-Sanchez, Western RCAP Tim Grogg, Southeast RCAP This webcast will cover: Systems’ Financial Responsibilities Contacts and Observations Financial Planning Tools
Olga Morales-Sanchez, Western RCAP
Tim Grogg, Southeast RCAP
Is the governing board or council provided with regular financial reports?
If you are not already familiar with the water system, do the physical inspection first. This will allow you to determine:
Does the operator have input into the budget?
Which reserve account should fund scheduled meter replacements?
Does the utility maintain and regularly fund reserve accounts ?
Fees are considered to be which type of revenue source?
Revenues = Expenses + Reserves
2. Does the utility have written financial policies and procedures?