One of the key results from analyzing the 2017-18 North Carolina Water and Wastewater Utility Management Survey is that utilities that set financial targets and goals (beyond the standard budgetary targets) have later proven to be more financially viable than utilities that did not track performance against specific financial targets. This demonstrates the value of setting financial targets and consistently measuring the utility fund's performance against those metrics.
Financial targets include a minimum reserve balance for the Enterprise Fund, a certain number of Days Cash on Hand, a specific debt service coverage ratio, or a maximum debt-per-customer level. In this webinar, the EFC briefly discussed financial targets and their benefits, and speakers from North Carolina utilities with outstanding financial performance (Stephen Winters from OWASA and Maria Hunnicutt from Broad River Water Authority) discussed their utilities' targets, how they measure performance, and how they make decisions as a result of adopting this practice. There was time for questions from the audience for the utility speakers and the EFC.
Access a PDF of the powerpoint from the webinar under the "Resources" tab above.
Watch a full recording of the webinar here: