JWC Agenda 11-06-2024
AGENDA
JOINT WATER COMMISSION
November 6, 2024 – 1:30 pm
Remote Attendance: Members of the public may attend this meeting via Microsoft Teams by
calling 1-872-256-4160 and entering access code 119 801 16#.
Questions/Comments: Members of the public who have questions about the commission or any
items on the agenda should contact the staff commission liaison – Matthew Rowedder, Utilities
Supervisor, City of New Hope, mrowedder@newhopemn.gov, 763-592-6760.
1. Call to Order—Roll Call
2. Approval of Minutes – October 9, 2024
3. Presentation on JWC Finances
4. Adjournment
Joint Water Commission,
October 9, 2024
Page 1 of 1
JOINT WATER COMMISSION MINUTES
Golden Valley - Crystal - New Hope
Meeting of October 9, 2024
The Golden Valley - Crystal - New Hope Joint Water Commission (JWC) meeting was called to order at
9:00 am.
Roll Call Present
Noah Schuchman, City Manager, Golden Valley
Adam Bell, City Manager, Crystal
Reece Bertholf, City Manager, New Hope
Staff Present
Tim Kieffer, Public Works Director, Golden Valley
Dave Lemke, Operations Manager, New Hope
Matt Rowedder, Utilities Maintenance Supervisor, New Hope
Patrick Sele, Utilities Superintendent, Crystal
Analeigh Moser, Accountant, Golden Valley
Bernie Weber, Public Works Director, New Hope
Jesse Struve, Public Works Director, Crystal
Carrie Nelson, Engineering Assistant, City of Golden Valley
Approval of Minutes – September 4, 2024
Moved by Bertholf and seconded by Bell to approve the minutes from the September 4, 2024 Joint
Water Commission (JWC) Meeting. Upon a roll call vote the following voted in favor: Schuchman, Bell
and Bertholf. The following voted against: None. Motion carried with the following correction:
• The approval of the August 15, 2024 minutes was seconded by Commissioner Bertholf.
Award Valley Rich Company to install a new 16” gate valve on 42nd Ave N, East of Winnetka Ave N
Moved by Bell and seconded by Bertholf to award Valley Rich Company to install a new 16” gate valve on 42nd
Ave N, East of Winnetka Ave N. Upon a roll call vote the following voted in favor: Schuchman, Bell, and Bertholf.
The following voted against: None. Motion carried.
TAC Update
Staff provided an update from the September 26, 2024 TAC meeting.
Adjournment
Chair Schuchman adjourned the meeting at 9:08 am.
ATTEST:
Carrie Nelson, Recording Secretary Chair Noah Schuchman
\\Files\goldval$\Joint Water Commission\JWC Agendas\2024 JWC Agenda\11 - November\03- 11-6-24- Memo for JWC Financial
Update.docx
Joint Water Commission
November 6, 2024
AGENDA ITEM #3
Agenda Item #3
3. Receive and File a Presentation on JWC Finances
Prepared by
Lyle Hodges, Golden Valley Finance Director
Summary
The JWC Financial Update are attached to this memo. The presentation explains the basics of
the financial structure of the JWC, how members are billed and reimbursed for costs depending
on whether the cost is operational or capital in nature, and concludes with a summary of
financial activity through August 30, 2024 for the General and Capital Projects Fund.
Attachments
JWC Financial Update
Recommended Action
Receive and file a presentation on the JWC financial update.
JOINT WATER
COMMISSION
FINANCIAL UPDATE
November 6, 2024
JWC FINANCIAL UPDATE AGENDA
•JWC Financial Structure
•Budget and CIP Process
•Overview of Finance & Accounting
Process
•General Fund (Operating Activities)
•Capital Projects
•Quarter 3 Financial Statement
2
JWC FINANCIAL STRUCTURE
General Fund – Primary operating funds, accounting for all
financial resources of the organization except those required
to be account for as capital projects.
•Pay Minneapolis for Water, Xcel for Energy, Audit, Admin,
cell rental lease revenue, investment earnings, maintenance
costs
Capital Projects Fund – Accounts for capital activity related to
water infrastructure in member cities.
•Collect contributions from members, reimburse members
for capital expenditures
3
BUDGET AND CIP PROCESS
Annually, the JWC approves both a General Fund budget and
CIP budget.
•The General Fund budget lays out the expected costs of
providing water and administrative services to the member
cities.
•The CIP budget includes the projected cost of all capital
projects for the next year.
4
FINANCE & ACCOUNTING PROCESS
General Fund
•The JWC pays monthly bills to Minneapolis for water, Xcel
for energy and other administrative costs.
•Member cities are billed for these services in the next billing
cycle making revenue offset the expenditures, netting to $0
•General fund typically breaks even or has a moderate gain if
investment earnings are positive
5
FINANCE & ACCOUNTING PROCESS
Capital Projects Fund
•The JWC bills member cities in beginning of the year for the budgeted CIP proportionate share
•Member cities incur costs and pay their respective contractors for projects throughout the year
•Members submit those invoices to the JWC for reimbursement from the Capital Projects funds as incurred and the JWC pays the members back
•Any capital funds not spent at year end (members essentially pre-pay) build the fund balance of the capital project fund for future use.
6
FINANCE & ACCOUNTING PROCESS
7
2023 Operating
Statement – General
and Capital Projects
Funds
AUGUST 30, 2024, FINANCIAL STATEMENTS
GENERAL FUND
8
2024 Budget
2024 YTD
Actual
Remaining
Budget
Revenue
Charges for Services 8,986,703$ 5,477,746$ 3,508,957$
Investment Income - - -
Rental Income - 72,202 (72,202)
Total Revenue 8,986,703 5,549,948 3,436,755
Expenditures
Water Purchased 8,395,353 5,148,391 3,246,962
Insurance 79,000 115,888 (36,888)
Maintenance 120,000 77,567 42,433
Utilities 257,350 109,523 147,827
Admin Services 135,000 26,378 108,622
Rent remitted to members - 72,202 (72,202)
Total Expenses 8,986,703 5,549,948 3,436,755
Change in Fund Balance -$ (0)$
Joint Water Commission - General Fund
Operating Statement
Through August 30, 2024
AUGUST 30, 2024, FINANCIAL STATEMENTS
CAPITAL PROJECTS FUND
9
2024 Budget
2024 YTD
Actual
Remaining
Budget
Revenue
Construction Charges 2,209,455 2,209,455 -
Total Revenue 2,209,455 2,209,455 -
Expenditures
Capital Outlay 2,209,455 746,457 1,462,998
Total Expenses 2,209,455 746,457 1,462,998
Change in Fund Balance -$ 1,462,998$
Joint Water Commission - Capital Projects Fund
Operating Statement
Through August 30, 2024