Town of Francesville evaluates water and sewer financials

The Francesville Town Council took a look at their annual utility financial reports during a regular meeting on Sept. 2. These reports review both water and sewer and are generated for best practice in keeping up with fund balances and ensuring rates are adequate. In summary, over the past year, sewer funds and rates are both in adequate shape. The sewer account also has debt falling off, with the last payment due on Jan. 27. However, the water fund will have to be watched. It was explained that water has lower fund balances than sewer, particularly since water issued new bonds this last year. It was noted that anything outside the report should be reviewed in terms of spending or if revenues decrease. As for rates, it was stated that they may need to be reviewed again within the next three to four years. It is recommended to review rates sooner so if they do have to increase, it will go up by smaller amounts instead of a large jump. Overall, no action is recommended at this point, but the town council was advised that they just need to keep an eye on water spending and revenues moving forward.