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Mohawk Valley Water Authority – October 26, 2015

Suzanne Harmon, Secretary to the Board opened the meeting at 5:18 PM and started with the Pledge of Allegiance. The next order of business was to elect a Chair pro-tem.

A motion was made by Dennis Bova to nominated Vincent Coyne to be the Chair pro-tem.
Seconded by: Mark Ford.
Vote: (7) Ayes (0) Nays (0) Abstain (5) Absent Motion Carried.

Acting Chairman Vincent Coyne presided and Suzanne Harmon took the minutes.

Roll Call: Present: Dennis Bova, Bruce Brodsky, Vincent Coyne, Mark Ford, Mitch Ford, Bette Szesny and Steve Zywiak. Absent: Rocco Arcuri, Bruce Brodsky, Elis DeLia, Scott Mahardy and Frank Mutolo. Also Present: Richard Goodney, Phil Tangorra, Jim Korfonta, Scott Gorgas, and Ken Bobrow, Esq.

Approval of the September 21, 2015 Minutes
Motion made by Ms. Szesny to approve the minutes. Seconded by: Mr. Zywiak
Vote: (7) Ayes (0) Nays () Abstain (5) Absent Motion Carried.

Resolution: Decision Regarding Establishment of Water Rates, Fees and Charges Effective January 1, 2016
A public hearing concerning the rates, fees and charges of the MVWA was held on October 26, 2015 at 5 PM. The Executive Director presented the case for a 2% rate increase to fund a $22,714,859 budget for calendar year 2016.
The main reasons are:

  • A decline in overall system demand
  • Workers compensation premiums are project to increase by $75,000
  • Paving restoration costs are up by $40,000
  • Offsetting these increases is a partial offset by a reduction in the mandated payment to the State retirement system of $95,000.

The MVWA is in the process of refinancing some prior revenue bonds issued in 2006 and 2008. This has been reviewed by MVWA’s rate consultant and is expected to meet the operational and capital improvement costs contained in the proposed fiscal year 2016 budget.
Said increases shall become effective January 1, 2016 for all billings rendered by MVWA on or after said date.
Motion was made by Ms. Szesny to approve the resolution. Seconded by: Mr. Zywiak
Vote: (7) Ayes (0) Nays (0) Abstain (5) Absent Motion Carried.

Resolution: Approval of the MVWA 2016 Calendar Year Proposed Budget
Motion was made by Ms. Szesny to approve the budget. Seconded by: Mr. Williams.
Vote: (7) Ayes (0) Nays (0) Abstain (5) Absent Motion Carried.

Selection and Award of Auditor
Mr. Coyne stated that the Audit committee met and they did select an auditor.
Mr. Korfonta stated that an RFP went out and the MVWA received six proposals. The staff did an evaluation and graded them. The Audit Committee awarded this to SaxBST, LLP from Albany, NY for a three year contract.
No motion was necessary.


Committee Reports:
Finance: Mr. Korfonta stated that the September 30th report is in your binder. The MVWA is above budget as far as revenues and consumption is down for the year.

Executive Director’s Report: Mr. Becher gave an update on the bonding process. This Board approved a request from the Water Finance Authority to borrow the two year construction money in advance along with the re-financing of the 2006 and 2008 bonds. The MVWA was on schedule to borrow early next spring for the next two years of construction money, which would have been for 4 or 5 million dollars. They decided it would not be economical to re-finance twice due to closing costs so the construction money was built into this bond series. The re-financing amount is approximately $19 million dollars. There has not been a change in the MVWA bond rating. The closing will be next week.

The meeting was adjourned at 5:38 PM.

Respectfully submitted,

___________________
Suzanne M. Harmon, Secretary
Mohawk Valley Water Authority