Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
Agenda Title:

City of Independence Water Fund Resiliency and Cash Balance Policy
Recommendations:

Staff recommends giving feedback to staff in order to prepare a policy for Council consideration of Resiliency and Cash Balance Policy for the City's Water Utility Fund.
Executive Summary:

The City had our Utility Municipal Advisor, PFM, conduct a Resiliency and Cash Balance study for the three public utilities to ensure they maintain a strong financial position and was viewed favorably by bond rating agencies. The Resiliency and Cash Balance study for Water is attached.

 

This is the same presentation received and endorsed by the Public Utility Advisory Board on 2/18/2021. Additionally, the PUAB recommended approval of applying the excess cash identified in the report to fund the Main Replacement Program.  

Department:          Finance and AdministrationContact Person:          Bryan Kidney

REVIEWERS:
DepartmentAction
Finance DepartmentApproved
City Clerk DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved
Council Action:          Council Action:         
ATTACHMENTS:
DescriptionType
Water Fund Cash Balance ReportPresentation