In reporting a clean audit to the City of Buffalo last month, Cloud Peak Accounting’s Chelsea Feeman cautioned the council that the enterprise funds need to be self-sufficient.
Those enterprise funds that encompass water, sewer, and sanitation, show assets of more than $50 million and a debt of $6.2 million.
The primary reason for the deficit is the state’s requirement to consider nearly $700K in equipment depreciation as City Councilman Wes Haskins explained…
While a water rate adjustment has been discussed in recent years, no increase is planned at this time.
