ORDER-2021-149 : An Appropriation in the amount of $400,000 from Water Retained Earnings, account number 6100-319000, to the Fiscal 2022 Water Budget.

Transcript (~3 min @ 1:24:55)

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▶ 1:24:55 Speaker 11: Thank you. So we had discussed this item at the June 7th meeting when I presented the DPW budget and the water and sewer rates and associated budget. This is the $400,000 transfer that we're requesting from the retained earnings to the essentially to the fiscal 22 mwra budget um component of our water budget specifically the potable water side uh our mwra assessment is based on the previous year's usage and our percent share of the entire mwra system and during the pandemic this boston's percent share was down so substantially all the bedroom communities our percent shares came up substantially um and so rather than coming for that last year we pay for that next year that's that's the way the system works so the prior calendar year's percent share of usage is what drives the coming fiscal year's assessment from the mwra so we see this is a one-time hit we wouldn't do this normally we wouldn't fund um operating funds in the future year with with retained earnings from the prior year because we don't want to set a precedent of underfunding the um the water and sewer enterprise funds we don't want to be borrowing from the previous year to pay the next year and then eventually that catches up to you and your rates are no longer reflective of of a balanced budget uh but we do believe that the $400,000 component is a very good estimate of the one-time hit that we're taking from the increased percent share of last year. And thus, we're requesting that one-time move from retained earnings into the MWRA assessment for fiscal 22.

▶ 1:26:56 Jeff McNaught: Thank you, Director Prayukas. Ellis, does anyone have any questions? Seeing none, what is the will of the committee?

▶ 1:27:10 Jeff McNaught: Motion to recommend, made by Councilor Tramontozzi, seconded by President Cinella. On discussion, seeing none, Madam Clerk, will you please call the roll?

▶ 1:27:20 Speaker 1: Chair McNaught? Yes. Vice Chair Eccles? Yes. Councilor Tramontozzi? Yes. Councilor McMaster? Yes. Councilor Garipay? Yes.

▶ 1:27:36 Speaker 1: Councilor Grigoraitis? Yes. Councilor Migliorelli? Yes. Councilor Stewart? Yes.

▶ 1:27:45 Speaker 1: Councilor Thomas? Yes. Councilor Cimoloddin?

▶ 1:27:49 Speaker 1: President Cinella? Yes. 10 yes.

▶ 1:27:52 Jeff McNaught: The motion passes. Next we have order 2021-152 authorizing a bond for the replacement of the salt shed.