Water is a business! City Council and rural water district boards have a lot to consider: water pressure, meeting all federal and state regulations and standards, and making rates affordable. In fact, their job is making the right choices about complex managerial and financial decisions of running a high-quality water utility. Yes, it takes time to keep up on the laws, regulations, and rules. However, as a board/council member, you are personally responsible. Water is the foundation of your community’s jobs and future. Like any business, there are risks and options, but is your board/council keeping them in mind? Boards/Councils need to know the pros and cons concerning managerial and financial decisions about water. This webinar is designed to be an educational tool to assist board/council members in understanding and operating their water business.
In this webinar, participants will:
• What it means to oversee a utility with good managerial capacity
• The importance of utilizing policies and procedures for utility management
• Tips for better communication with customers
• The five core components of a utility asset management plan
• The indicators of proper utility financial capacity
• Utility budgeting tips and considerations
• Different types of utility financial reserves and their criticality to operations
• The benefits of utility capital improvement planning