The Long Range Planning Committee (LRPC) presented the draft Reserves Policy at the October 13th Board of Director’s (BOD) Meeting. Based on recommendations from the LRPC members and concurred to by the BOD’s, due to the length and details within the policy, an additional more concise document will be prepared and serve as the Reserves Operational Procedure which will provide the day‐to‐day guidance and direction to the BLSMWC management and staff. In addition, the policy will be reviewed by our accounting firm to ensure that it is within the compliance regulations for not‐for-profit mutual water companies. The final documents will be reviewed by the BOD for approval at the scheduled November 10th Meeting.
Development of the Asset Management Plan supported by MC Engineering is continuing. The progress was presented at the October BOD Meeting. As mentioned last month, we agreed to approach the plan preparation in phases. The first phase is to develop an updated Asset Inventory Database (with consideration of the current USDA Project) based on data extracted from a previous BLSMWC Asset Inventory prepared in 2006 by HDR Engineering, along with our 2014 Water Master Plan and the more recent data compiled during the engineering phase of our USDA Project. A first draft of the inventory focusing on the pipelines has been prepared and is being reviewed for completeness and accuracy. From there, additional sections will be added to the database covering the assets for all other areas of the water system, including the treatment plant, storage tanks, water meters, wells, etc. The goal is to complete the database by year‐end and then determine and agree on the remaining scope to be included in the Asset Management Plan.