Financial Sustainability & Accountability

By Scott Hayes

Achieve long-term financial sustainability by pursuing a triple-A credit rating and by implementing accountability for capital spending.

I plan to drive financial sustainability by ensuring that the financial performance of all DSRSD projects is reviewed regularly and is made available to the public. I envision a list of all projects (past and present) available on DSRSD's website that includes the original cost/payback/time estimates as well as the current status or final performance. This type of reconciliation doesn't happen today, and I believe it's the only way DSRSD will be able to recognize success or learn from mistakes.

For example, $120 million has been spent on the recycled water project, but there has been no reconciliation of revenue generated from the initiative. Financial reconciliation of this project could mean the difference between a great idea or a boondoggle, and as of now the drinking water users have no idea how much additional they are paying in rates to subsidize this initiative.

Another example happened earlier this year when the board approved $100K to upgrade the controls for the aeration system at the wastewater treatment plant. The project was expected to have a payback of less than 3 years, with savings generated by lower electricity usage. The board approved this project without making any demand for the necessary follow-up to ensure the project actually achieves the stated goal of paying for itself in less than 3 years.