This workshop helped participants ensure the financial stability of their water system while providing safe, quality drinking water at fair rates. Topics included all aspects of financial management and planning of a water system fund including rates and rate setting, controlling costs, planning for capital expenses, accessing external funding, tracking and benchmarking financial performance, and other Enterprise Fund issues that small water systems face.
Participants learned how to:
1. Assess and monitor financial performance
2. Design appropriate rate structures and set fair rates that cover costs
3. Plan to fund future capital costs
4. Locate external funding sources (loans and grants)
The workshop also included a review of the recently completed Water and Wastewater Rates Dashboard Benchmarking Tool for South Carolina.