Virginia | Financial Management for Small Water Systems

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Date/Time
Date(s) - 02/23/2016
9:00 am - 4:30 pm
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Location
Pamplin Historical Park

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This workshop helped to ensure the financial stability of your water system while providing safe, quality drinking water at fair rates. Topics included all aspects of financial management and planning of a water system fund including rates and rate setting, controlling costs, planning for capital expenses, accessing external funding (loans and grants), tracking and benchmarking financial performance, and other Enterprise Fund issues that small water systems face.

Attendees learned how to:
1. Set aside funds for future repairs, security upgrades, and regulatory compliance
2. Set fair rates that cover costs
3. Locate external funding sources (loans and grants)
4. Monitor financial performance

The workshop also included an overview of the Virginia small systems rates dashboard benchmarking tool.

This workshop was designed for local government drinking water system managers, clerks, treasurers, elected officials, and others who budget and/or set rates.

Partners: AWWA and Virginia Section AWWA

Presentation Slides:
Introduction and Water Finance 101
Revenues for Small Water Systems
Capital Finance for Small Water Systems
Revenues for Small Water Systems

Exercises:
Key Financial Indicators Exercise
Rate Setting Exercise

Resources:
Tools and Resources Packet
Virginia Water and Wastewater Rates Dashboard

 

 

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