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VMWID Annual Meeting Virtual

November 8, 2023 Agenda

A. Meeting Open

    • Welcome
    • Establish quorum
    • Review meeting process and participation

B. Board Members Introductions

      • Ray Topping, President
      • Rahul Shah, Treasurer/Secretary
      • Debra Riggle, Member
      • Greg Hayes, Member

C. Service Provider Introductions

      • Curtis Olson, Hiland Water
      • HBH Engineers, Natalie Jennings

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Agenda continued

D. Election to fill Seat 5 (Rahul Shah), 3-year term

    • Board nomination
    • Open to nominations from the floor

E. Operator’s Report- Curtis

    • State of the System
    • Water Loss Update
    • Issues and Challenges

F. System Engineer’s Report- Natalie

    • 2023 Activities
    • 2024 Outlook

G. Mid Meeting Q&A Session

H. President’s Report, 2023 Summary - Ray

I. Financials and Proposed Water Rates- Rahul

J. President’s Report, 2024 Plans - Ray

K. Final Q&A Session and Meeting Closure

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  • MAINTAINED CONSISTENT, RELIABLE, HIGH QUALITY WATER SUPPLY – ACHIEVED, WE HAD A COUPLE CHALLENGES BUT NO SERVICE INTERRUPTIONS
  • MAINTENANCE PROJECTS - COMPLETED SEVERAL ACTIONS MOSTLY LEAK REPAIRS, ELECTRONIC METER INSTALLATION COMPLETED, PURCHASING BACK UP PUMP FOR WELLS 2 & 4, SERVE BOTH
  • DEFENSIBLE SPACE/ FIRE MITIGATION – PERFORMED CLEAN UP FOR A DEFENSIVE ZONE AROUND ALL STRUCTURES, MOWED WELL FIELD TWICE AND TRIMMED LOW HANGING TREE BRANCHES, PUT NEW METAL ROOFS ON THE 3 BUILDINGS IN THE WELL FIELD, ALL BUILDINGS NOW HAVE METAL ROOFS.
  • CHLORINE ROOM ADDITION AT RESERVOIR #1 – INITIATED IN Q4, CONTRACTOR HIRED, WAITING FOR BUILDING PERMIT, NOT URGENT, SCHEDULE IS WEATHER AND CONTRACTOR AVAILABILITY DEPENDENT
  • ANNUAL WATER QUALITY REPORT – COMPLETED BY HILAND, WATER QUALITY CONTINUED TO BE EXCELLENT MEETING OR BETTER THAN ALL CRITERIA.
  • MAINTAIN FINANCIAL STRENGTH – ACHIEVED AND CONTINUED CREDIT/DEBIT CARD PAYMENT OPTION, RECEIVING ALTERNATE PROPOSALS ON INSURANCE, ADDED TO CAPITAL RESERVE
  • CUSTOMER BACKFLOW RISK REDUCTION – DEFERRED TO 2024

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President’s Report

2023 in Review

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2023 Projected Cash and 2024E Budget

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2024 Proposed Budget

Revenue

$151,000

Fixed Costs

$(102,775)

Project Costs

$(20,500)

Net Cash Surplus (Deficit) for year

$27,725

Cash on Hand Year End

$240,725 (consists of $118,725 in Umpqua Bank and $122,000 in CDs)

2023 Projections:

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- Finish the year with ~$211,000 in cash; this compares to 2022 ending balance of $194,200

- In 2023, we moved a portion of our cash to CD’s (Certificates of Deposits) to take advantage of higher interest rates

- We moved $120,000 into 3 CDs, with varying maturities from 2023 to 2025, and rates between 4.85% and 5.1%

- Therefore, the $211,000 of cash consists of ~$91,000 in Umpqua Bank and $120,000 in the CDs

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  • MAINTAIN CONSISTENT, RELIABLE, HIGH QUALITY WATER SUPPLY
  • MAINTAIN FINANCIAL STRENGTH, COMPLETE RISK ASSESSMENT
  • CONTINUE MAINTENANCE PROJECTS INCLUDING CHLORINE BUILDING ADDITION
  • CONTINUE LEAK DETECTION AND REPAIR PROGRAM
  • FOLLOW UP ON CUSTOMER BACKFLOW RISK REDUCTION

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President’s Report

2024 Plans

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  • Final Q&A
  • Appreciation of Participation
  • Follow Up Actions
  • Meeting Close

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Meeting Summary