Agenda - 02-20-2018 4-a - OWASA Annual Update Presentation

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OWASA Annual Report January 23, 2018 Page 2 • Staff training. • Development of the community engagement plan and materials. • Upgrading a small quantity of meters with OWASA staff to reinforce training and test processes. • Processed a small quantity of bills utilizing AMI reading data. The key benefits of the project are: • To improve customer access to water use information, • To make for more efficient and effective billing, • To allow early detection of possible water leaks, and • To enhance operational efficiency. Key activities for 2018 will include finishing the installation of the network infrastructure, completing a field readiness test with the installation subcontractor to review their processes, begin system-wide meter upgrades, and launching the customer portal. Sewers for the Historic Rogers Road Area Sewer installation began in the fall of 2017. About 2,950 feet of sewer pipe has been installed to date. This is approximately 15% of the 19,000 feet of pipe that will be installed. The project is on schedule for completion in summer 2018. Financial Management Fiscal Year (FY) 2018 is the sixth consecutive year with no increase in our monthly water and wastewater rates. We received an unmodified opinion from our independent auditors that our financial statements fairly present our financial position. We continue to meet our financial performance objectives, including the metric we use to measure the affordability of our services. The average household in our area uses about 4,000 gallons per month of water and sewer service; the annual cost of service at this level, $70.66 per month, is less than 1.5% of median household income. The table below shows revenues and expenditures for FY 2017. FY 2017 Water and Sewer Revenue $34,532,508 Net Other Revenue 2,781,816 Operating Expenses 21,173,235 Depreciation and OPEB 9,402,322 Net Income 6,738,767 3