The Macon Water Authority

790 Second Street • Macon, GA 31202-0108 • (478) 464-5600

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MWA adopts FY 2012 Budget reflecting fiscally responsible oversight

Oct 31, 2011 by Dr. Chris Wood

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Jocelyn Hunt oversees the operations at the MWA Frank C. Amerson, Jr. Water Treatment Plant. According to the FY 2012 Budget, the Authority anticipates a 5 percent increase in water sales.

The Macon Water Authority (MWA) Board of Directors, upon the recommendation of the Finance Committee, has adopted the Fiscal Year (FY) 2012 Budget for the Authority and its Macon Soils subsidiary. The budget adoption process went smoothly, says MWA Executive Director Tony Rojas, as the financial position of the Authority is strong even amidst difficult economic times.

In its 2012 Budget, the Authority anticipates a 5.4 percent increase in operating revenues next year, as a result of water and sewer sales and additional operating income. Total operating revenues in 2012 are expected to eclipse $44 million.

As for expenses, the Authority continues to operate with fiscally responsible practices and policies, says Rojas, evident in the utility’s total operating expenses increasing only 3.8 percent next year, primarily due to the increased costs for doing business, such as operating and maintenance equipment and expenses for water treatment and distribution, as well as sewer conveyance.

In addition to adopting the Budget for the MWA for FY 2012, the Board also approved next year’s budget for Macon Soils – its subsidiary for biosolids handling, recycling, and disposal. Macon Soils has projected annual revenues for next year at more than $821,000, against operating expenses of approximately $681,000, for a net income of nearly $140,000 expected in 2012.

Finally, with $99.7 million of outstanding debt from six bond issues dating back to 2005 and three GEFA loans, the Authority will continue to maintain a healthy and enviable debt service/coverage ratio of 2.05 to 1 on its bond issues and 1.88 to 1 on its overall long-term debt, says Rojas. According to industry standards and regulatory oversight of the municipal bond market, a water utility’s debt service ratio should be a minimum of 1.25 to 1, to reflect a sound financial and cash position, adds Rojas, noting that the MWA more than exceeds those minimum standards for fiscal responsibility.

Media contact:
Chris Wood, Ph.D.
P: 770-757-1681
E: jcwood@uga.edu

Tagged: macon water authority, fy2012 budget

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