To: Members of the Castle Rock Water Commission
From:
Mark Marlowe, P.E., Director of Castle Rock Water
Anne Glassman, Business Solutions Manager
Title
Preparing for 2019 Rates and Fees Study
2018 YTD Actuals vs. Year-End Estimates and Budget
Body
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The purpose of this memorandum is to update Castle Rock Water Commission on the 2018 year-to-date actuals through October, the 2018 year-end estimates, all compared to the 2018 approved budget, and as actual revenues and expenditures may relate to the 2019 Rates and Fees Study.
Overall revenues are exceeding budgeted amounts. This is being driven by both increased water use and higher than budgeted growth. Expenses are lower than budgeted amounts primarily as a result of lower than budgeted capital expenditures. This is being driven by the delay of projects both outside of our control (permitting, design challenges, slow pace of regional partners, etc.) and within our control (lack of project management resources to keep up with demand.) The higher revenues and lower capital expenditures should reduce pressure on rates and fees looking forward to 2020. Castle Rock Water will continue to focus on the cost of service for outdoor water use and water budgets in 2019.
Attachments
Attachment A: Revenues and expenses summary