File #: 23-0623    Version: 1
Type: report Status: Filed
File created: 7/11/2023 In control: Utility Advisory Committee
Agenda date: 8/3/2023 Final action: 8/3/2023
Title: Utilities - 2nd Quarter Financial Update
Attachments: 1. Utility Finances Q2_Aug23

Title

Utilities - 2nd Quarter Financial Update

 

Recommended Action/UAC Deliverable:

Briefing only.

 

Issue:

Receive information on current finances for the City’s utilities of Waste ReSources, Drinking Water, Storm and Surface Water and Wastewater

 

Staff Contact:

Gary Franks, Public Works Waste ReSources Director, 360.753.8780

Mike Vessey, Public Works Drinking Water Director, 360.753.8318

Jesse Barham, Public Works Water Resources Director, 360.753.8164

 

Presenters:

Same as above

 

Background and Analysis:

The Utility Advisory Committee reviews City utility finances, capital investments, and rates annually. The UAC has requested quarterly financial updates for the City’s utilities.

 

Financial data showing actual vs. budgeted revenues and expenditures with year-to-year comparisons for the 2nd quarter of 2023 is provided. No briefing planned, an opportunity to ask questions at the end of the meeting will be provided.

 

Climate Analysis:

Utility financial updates have no impact on carbon emissions.

 

Equity Analysis:

The health of utility finances ensures that utility services are provided to the community. These services protect vulnerable populations and the environment from negative impacts. Rates are evaluated annually to ensure equitable distribution of costs across ratepayers.

 

Neighborhood/Community Interests:

City utilities provide essential public health services to Olympia residents.

 

Financial Impact:

None currently. However, utility rates impact our community by the utility rates that customers pay.

 

Attachment:

2nd quarter 2023 finances