16:57However, with the Wesson Canal pump station rebuild project estimated to cost between $15 million and $20 million, the authority recognizes the need to grow its net cash position faster than its expenditures. To secure financing through the Infrastructure Bank, a minimum of 25% of the project cost is necessary. This financial pressure is further compounded by the expected rise in energy bills, projected to increase by 20% to 30% this year, which would affect the authority’s budget.

Additionally, the authority is investigating the potential need for a user rate increase. This decision hinges on the results of an upcoming budget review, which will take into account the overall financial demands posed by both routine expenses and major projects. The committee also noted the importance of submitting all bond notes to the local finance board, aligning with bond sale requirements.

The meeting also addressed staffing changes within the authority. A bookkeeper resigned, leading to the hiring of a temporary replacement and the return of a retired bookkeeper on a part-time basis. Cross-training initiatives are underway for a senior billing clerk to assist with bookkeeping operations. This restructuring of the bookkeeping office is expected to enhance the authority’s ability to manage its financial responsibilities more effectively.

07:11In terms of project updates, the solar electric vehicle project was a focal point. With phase one progressing well, the committee is preparing for phase two, involving utility billing, with training and go-live dates set for mid-June. This project has gained heightened importance given the anticipated increases in electric rates, positioning it as a key component of the authority’s strategy to mitigate rising energy costs.

31:20The high bay garage project is facing challenges, primarily due to ongoing discussions with the Delaware River Canal Commission over a stream corridor preservation waiver. The committee proposed a conservation event to meet land use requirements near the newly constructed building, which had encroached upon the stream corridor. The executive director emphasized the need to provide an easement for land that would remain undeveloped, and alternatives are being considered if a higher conservation ratio is mandated by the commission.

Progress was reported in the Somerset Street pump station rehabilitation, with only minor punch list items remaining, while the Brookline Avenue sewer rehabilitation project also advanced smoothly, despite a defective section of lining being identified.

The authority’s general engineering section engaged with representatives from New Brunswick to incorporate flow metering into a new agreement. The recent flow study at Harrison Towers, following the replacement of an outdated water meter, is under review, with no significant anomalies detected despite marginal differences in meter readings.

33:50Resolutions for the month, including payroll and operating expenses, were passed through a consent agenda requiring a single motion and second for approval. Notably, a supplemental bond resolution authorized the issuance of up to $5 million in sewer revenue bonds, and a service agreement with Privatizer Technologies LLC was renewed for maintenance services.