VoyForums

[ VoyUser Login optional ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, [5], 6, 7, 8, 9, 10 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: Friday, December 19, 04:23:19pm
Author: El Segundo
Subject: New Hartford sewer panel treads water , Waterbury Republican, Dec 19
In reply to: Gareis 's message, "Residents to vote on fate of WPCA, Register Citizen, Dec 17" on Wednesday, December 17, 07:02:40am

http://www.rep-am.com/articles/2008/12/19/news/386562.txt

BY KARI BANACH REPUBLICAN-AMERICAN
NEW HARTFORD — Though an emergency bailout for the town's sewer authority is on the table, revenue projections unveiled Thursday indicate the agency is only at the beginning of long-term financial troubles.

The Water Pollution Control Authority will likely be roughly $160,000 to $334,000 in debt by 2011, according to data compiled by Board of Finance member Roy Litchfield and authority member Bill Michaud.

Litchfield and Michaud each performed separate analyses of the authority's past spending and revenues. Though they projected the authority would increase its rates roughly 5 percent a year, the agency is still expected to struggle with water and sewer system repair costs and increasing fees for workers to perform day-to-day management of the utilities.

While their projections differed on how far in debt the volunteer agency would go, both concluded the financial picture will not improve until the town expands its sewer treatment plant so it can take on more users to generate more revenue.

The Board of Finance's special meeting was called Thursday to attempt to sort out the agency's finances. Presently, the authority is in debt by nearly $89,000. Earlier this month, the finance board put $20,000 toward the debt from a contingency fund in the town's budget.

The authority owes the money to The Connecticut Water Co., which manages the utilities. The authority, as of this week, had only $5,885 on hand after making $46,000 in payments toward the debt earlier this month.

Though Connecticut Water agreed to let the town have until March 10 to pay back the remaining $89,000, officials seemed unsure Thursday where that money would come from.

Town Treasurer Blake Hall suggested it be pulled from surplus. Finance board Chairman Daniel Charest worried that depleting the surplus might hurt the town's bond rating.

Though discussion continued late into the night without a decision, finance officials reviewed the grim projection figures at length.

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

Forum timezone: GMT-5
VF Version: 2.94, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2012 Voyager Info-Systems. All Rights Reserved.