PCWD receives clean audit
At their October 9 meeting Directors of Pine Cove Water District reviewed the district’s latest audit over Zoom with Brianna Schultz, a partner from their accounting firm, Rogers, Anderson, Malody & Scott. The firm gave PCWD an “unmodified” or “clean” audit opinion, the highest rating.
The overall “net position”, which includes capital and liquid assets of the district, went up by 3.5% to $3,712,946. Some adjustments were made to previous year positions to correct balances relating mostly to changing pension liabilities. This “prior period adjustment “of retirement plan liability was necessary because of changing staffing levels and CalPERS rates, and uses measurements taken a year ago. It shows an additional $41 thousand liability, or about 5%. Schultz said this was “significant” but “in line with” what similar agencies are seeing.
Pay down on debts brought those liability down by about $31 thousand. Operating income was down by $56 thousand due to decreased water usage. This was partly compensated by non-operating income (mostly property tax payments and rent) which were up by $39 thousand. Expenses were up by $228 thousand, mostly due to equipment, and employee retirement and benefit expenses.
GM Jeremy Potter’s Operations Report showed production up slightly compared to the last two Septembers, due to hot dry weather, and the monitoring well, which has remained near 60 feet since spring, down 3.92 feet to 64.54.
The month’s water loss figure was 7.7%, down from the last few months. Potter said the figure was not exact and attributed this partly to a faulty production meter. The Board heard that the district’s tank in Dutch Flats was visited by firefighting helicopters during the response to a fire on Black Mountain in September. Potter said that at 1,000 gallons per visit the usage would not likely account for much of the water loss. He said he would look into putting a meter on the tank to help keep track of this usage. Board President Robert Hewitt, who has experience as a firefighter, was particularly pleased to see the tank being used.
Potter reported that the resignation of two employees in August has slowed down the installation of the last of seven books of meters. The district is advertising to fill one of those positions, and applications will be accepted until December 1.
In vehicle news, the engine for the 2013 pickup has been received, and will be replaced by staff. The new 2024 Tacoma began showing trouble with lights and is back with the dealer under warranty.
The GM also said he wanted to remind the public to winterize their property, especially if leaving for a long period. Reminders were sent out with bills. Office Manager Jennifer Hayes and Board Member Becky Smith discussed the best way to communicate with paperless customers, and Hayes noted that the new billing system that the district will begin using at the end of December will have better capabilities for public notifications.
The next meeting will be Wednesday, November 13.
