ID Online Training | Finance & Budgeting Principles for Idaho Water Systems
Description: This workshop will introduce participants to a wide array of financial topics from rates to budgets to financial health metrics. There will also be an opportunity to be introduced to a financial assessment tool created by the SW EFC, available at no cost to you, which can be used to understand your utility’s finances. Topics include:
- Budgets: Why we do them, how we use them
- Chart of Accounts: What is it and what is it for?
- The difference between revenue and income
- The difference between expenditures and expenses
- What are assets and liabilities and how are they recorded?
- Financial Reports (Profit and Loss and Balance Sheet) and how to read them
- User rate structures and how they impact revenue, expenses, and affordability
- Financial Health Indicators (ratios) and what they mean
Trainers: Heather Himmelberger, Director; Sandi Blanton, Research Scientist; and Luke Andrews, GIS Analyst, Southwest Environmental Finance Center at the University of New Mexico
Who Should Attend:
- Managers, owners, and operators of water systems serving less than 10,000 people
- Decision-makers for water utilities, including mayors, finance officers, utility managers, public works directors, city councilors, board members, tribal council members, and clerks
- Consultants and technical assistance providers serving water systems
Continuing Education Units: Pending Approval.