The Long Range Planning Committee (LRPC) presented the “Draft” Reserves Operating Procedure at the November 10th Board Meeting. Reviews have been completed to ensure that our Reserves Policy is within legal and accounting compliance regulations for not‐for‐profit mutual water companies. Based on recommended minor revisions to both the Reserves Fund Policy and Reserves Operating Procedure, the LRPC will review the “Final” recommended documents at our December meeting and present to the board for approval and implementation in January.

Discussions continue with MC Engineering on the development of our Asset Management Plan. A meeting was held on November 8th to review the progress and proposed structure of the Asset Inventory Database, which is the critical 1st phase in the plan development. Agreement was reached to move forward with loading all remaining assets into our GIS Model, and utilize the data to develop a comprehensive interactive database tool. This database will provide on‐going information on the life expectancy and estimated replacement cost of each asset, which will be utilized to determine the annual amounts required in our Capital Assets Reserve Fund.

In addition to the above, the LRPC focus over the next couple months which will be discussed at our December meeting include:

Analyzing how 2019 Reserves and USDA Reimbursements will affect financials Review the changes to our USDA construction spend plan to determine how the revised draw down affects our Interim Financing interest estimate Review proposed additional USDA tasks (still within allocated budget) being requested by BLSMWC Management and Staff.

Review Meter Usage Data updated through Sept 2018, and discuss how levels and trends may be considered in the development of our Rate Structure as we progress through 2019

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