HomeMy WebLinkAbout5 Financial Status report Agenda Item # (4�
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Memorandum
To: Board of Directors
From: Peter Holzmeister
Date: March 16, 2001
Subject: Financial status report
On Wednesday evening Mary Chapman and I will make a presentation on the status of
the district's financial position. We are tackling several projects at this time and we need
to keep our focus on the district's short and long term financial condition.
We are pursing business opportunities such as Donner Lake Water, Glenshire water,
and broadband services. Each of these efforts offers a future revenue stream, but it
costs money to develop them.
We are investing in our water system supply by developing new wells and transmissions
lines.
We have developers approaching us about water and electric service
We have entered into a long-term contract for purchase of wholesale power.
We have the ability to sell conduit and land to generate cash.
We have increased our water connection and facilities fees, and we are suggesting an
increase in the electric connection fees.
We will need to consider an electric rate increase to reflect the new wholesale power
contract.
The picture is complex. We need to analyze it and review it regularly. We need to make
decisions with the complete picture clearly before us.
On Wednesday evening we will begin to focus our view on the District's financial
situation.