Title
Utilities Financial Update: First Quarter 2025
Recommended Action/UAC Deliverable:
Briefing only.
Issue:
Receive a briefing on current finances of the City’s of Waste ReSources, Drinking Water, Storm and Surface Water and Wastewater utilities
Staff Contact:
Gary Franks, Public Works Waste ReSources Director, 360.753.8780
Jesse Barham, Public Works Water Resources Director, 360.753.8164
Mike Vessey, Public Works Drinking Water Utility Director, 360.753.8318
Presenter:
Casey McGovern, Fiscal Services Finance Analyst
Background and Analysis:
The Utility Advisory Committee reviews City utility finances, capital investments, and rates annually. The UAC has requested regular financial updates for the City’s utilities. Staff will present the 2025 first quarter actual vs. budgeted revenue and expenditure with year-to-year comparisons. Staff will provide the materials at the meeting with an opportunity to ask questions.
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 at this time. The four City owned utilities are funded by customer paid utility rates.
Attachments:
None