Rural Water - Quarter 2, 2011 - (Page 11)

C new opportunities to benefit Rural Water. From the President The Importance of Financial Management CHANGE IS IN the air – from the Capitol steps in Washington, D.C. to the steps in front of local government offices in our hometowns. Rural Water has always had the ability to adapt to change and go with the flow… and even go against the flow if we believe a change in direction is needed. We all know that “change is inevitable.” We must be able to embrace change and use the As I have traveled across the country over the past several years, I have seen the importance of fi nancial management in assuring the ability of utilities, especially rural and small community systems, to provide clean, safe and affordable drinking water to their customers. Assessing and strengthening fi nancial capacity is now a federal regulatory requirement because of capacity development. Implementing sustainable fi nancial management is a shared responsibility between each utility’s staff and, most importantly, the individuals on its governing board. Improving the fi nancial capacity of our member utilities should be a primary goal fostered by all state rural water associations. With the increasing costs of fuel, insurance, chemicals and salaries, just to name a few, utilities must focus on their fi scal responsibilities more than ever. The fi nancial planning and decisions made in the coming years by governing boards will have a major impact on the capacity of small utilities to continue providing high-quality services. Nationally, water and wastewater utilities collect billions of dollars in revenue every month. Improving the ability of the governing boards to understand their fi nancial management responsibilities and to face the diffi cult fi nancial decisions regarding rates, capital investment strategies and asset management will have a major impact on the fi nancial and managerial capacity of utilities into the future. Our member utilities serve an important environmental and public health purpose by protecting their community’s water resources while also supplying their community with the highest quality drinking water and/or wastewater services that everyone in the community can afford. Utilities must serve as well-managed enterprises by utilizing forward-thinking, sustainable business practices. We know our member utilities will continue providing high-quality water and wastewater services through responsible, sustainable and creative stewardship of the resources and assets they manage. NRWA and its affi liated state associations will continue to provide the highest quality training and technical assistance to help them be the best of stewards! I hope this issue of Rural Water magazine provides you with information on fi nancial management that you will fi nd useful to your work with, or on behalf of, water and wastewater utilities throughout the world. BY JOE LILES, NRWA PRESIDENT BY JOE LILES, NRWA PRESIDENT With the increasing costs of fuel, insurance, chemicals and salaries, just to name a few, utilities must focus on their fiscal responsibilities more than ever. Second Quarter 2011 • 11

Table of Contents for the Digital Edition of Rural Water - Quarter 2, 2011

Rural Water - Quarter 2, 2011
From the President
Reducing Energy Costs for Public Water Systems
Are You There Yet? Evaluating Your Portfolio
Where the Dollars Are: The Low Hanging Fruit in Money and Energy Savings
Information Technology and Water Systems
Stormwater Solution
The Next Workforce
Water University Graduates
The Voice of Rural Water: Rural Water Rally 2011
Regulatory Update
Throwing My Loop
Index to Advertisers/
From the CEO

Rural Water - Quarter 2, 2011