Rural Water - Quarter 3, 2018 - 22

TO INSURE THAT YOUR SYSTEM WILL
BE ABLE TO GUARANTEE ITS CONTINUITY
AND PROTECT ITS ASSETS, PUT TOGETHER
A PLAN FOR YOUR NEEDS.
may significantly understate the likely
current cost of replacement of the system.
Using the estimated replacement value
or capital needs assessment is a more
appropriate approach, however, it requires
the help of architects and consultants.

This method will represent a more reliable
provision for facility needs.
Next, determine the funding for the
reserve. The most appropriate way is to
put aside a stated percentage of your total
revenues or net income each year. This can

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22

THIRD QUARTER 2018

864021_GF.indd 1

4/3/17 2:50 PM

be accomplished by budgeting each year
for a contribution to your reserve. This may
be accomplished by a single contribution at
the end of the year or by making a monthly
contribution of your net income. This
allows for your costs of doing business to
be accounted for and funded before any
funds are moved to the reserve.
It is always a good idea to be proactive
with the subject of reserves and future
planning. And, to successfully accomplish
this is to first have a good reserve policy.
Some key elements are:
* Identify ways you can fund the reserve
* Attach a timeline to the reserve
* Include a means by which the funds will
be dispersed when needed
* Identify a way to track and monitor
the funds.
Funding a reserve should be disciplined
and consistent. Identify how regular
and planned contributions can be made.
There are several sources that could be
used, such as budgeted surplus, funded
depreciation or a dedicated revenue
stream. Whatever way is chosen to be
used supplies the planning documents to
achieve the revenue for the required level.
A timeline for building the reserves
anticipates replacement and improvement
needs, but should also be flexible enough
to respond to unexpected needs.
The means by which the funds will
be dispersed should include the rules for
withdrawing and using the funds. This
should include who is to recommend and
approve the expenditure. During the life
of the reserve, unexpected occurrences
will more than likely occur and should be
anticipated and contain a mechanism for
such needs.
The funds should be monitored and
tracked to insure they are not being
dispersed for anything other than the
designated purpose. These funds do not
necessarily have to be segregated into a
separate account. In fact, it is better to
combine them with other investments to
maximize your return.
To finance future projects, build your
reserves. The simplest way is to first
create a policy that will direct the process,
then do the research to get the numbers
and last, start building your reserve.
The policy should be unique to your
system, making your reserve unique to
your project. ●


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Table of Contents for the Digital Edition of Rural Water - Quarter 3, 2018

From the President
Infrastructure and Rural Water
Rural Prosperity Through Infrastructure, Partnerships and Innovation
Building Your Reserves to Plan for the Future
Rural Water Loan Fund Helps Small System Repair Well After Lightning Strike
State Rural Water Association Profile: Kansas Rural Water Association
A Day in the Life of a Circuit Rider
Regulatory Update
Case Study: Screw Pumps Provide Treatment Plant with Efficient Alternative
Up the Creek: The Secret of Longevity
Index to Advertisers/Advertisers.com
From the CEO
Rural Water - Quarter 3, 2018 - Intro
Rural Water - Quarter 3, 2018 - bellyband1
Rural Water - Quarter 3, 2018 - bellyband2
Rural Water - Quarter 3, 2018 - cover1
Rural Water - Quarter 3, 2018 - cover2
Rural Water - Quarter 3, 2018 - 3
Rural Water - Quarter 3, 2018 - 4
Rural Water - Quarter 3, 2018 - 5
Rural Water - Quarter 3, 2018 - 6
Rural Water - Quarter 3, 2018 - 7
Rural Water - Quarter 3, 2018 - 8
Rural Water - Quarter 3, 2018 - 9
Rural Water - Quarter 3, 2018 - 10
Rural Water - Quarter 3, 2018 - From the President
Rural Water - Quarter 3, 2018 - Infrastructure and Rural Water
Rural Water - Quarter 3, 2018 - 13
Rural Water - Quarter 3, 2018 - 14
Rural Water - Quarter 3, 2018 - 15
Rural Water - Quarter 3, 2018 - 16
Rural Water - Quarter 3, 2018 - 17
Rural Water - Quarter 3, 2018 - Rural Prosperity Through Infrastructure, Partnerships and Innovation
Rural Water - Quarter 3, 2018 - 19
Rural Water - Quarter 3, 2018 - 20
Rural Water - Quarter 3, 2018 - Building Your Reserves to Plan for the Future
Rural Water - Quarter 3, 2018 - 22
Rural Water - Quarter 3, 2018 - 23
Rural Water - Quarter 3, 2018 - 24
Rural Water - Quarter 3, 2018 - Rural Water Loan Fund Helps Small System Repair Well After Lightning Strike
Rural Water - Quarter 3, 2018 - State Rural Water Association Profile: Kansas Rural Water Association
Rural Water - Quarter 3, 2018 - 27
Rural Water - Quarter 3, 2018 - 28
Rural Water - Quarter 3, 2018 - 29
Rural Water - Quarter 3, 2018 - 30
Rural Water - Quarter 3, 2018 - A Day in the Life of a Circuit Rider
Rural Water - Quarter 3, 2018 - 32
Rural Water - Quarter 3, 2018 - 33
Rural Water - Quarter 3, 2018 - 34
Rural Water - Quarter 3, 2018 - Regulatory Update
Rural Water - Quarter 3, 2018 - 36
Rural Water - Quarter 3, 2018 - 37
Rural Water - Quarter 3, 2018 - 38
Rural Water - Quarter 3, 2018 - 39
Rural Water - Quarter 3, 2018 - 40
Rural Water - Quarter 3, 2018 - Case Study: Screw Pumps Provide Treatment Plant with Efficient Alternative
Rural Water - Quarter 3, 2018 - 42
Rural Water - Quarter 3, 2018 - 43
Rural Water - Quarter 3, 2018 - 44
Rural Water - Quarter 3, 2018 - Up the Creek: The Secret of Longevity
Rural Water - Quarter 3, 2018 - 46
Rural Water - Quarter 3, 2018 - 47
Rural Water - Quarter 3, 2018 - Index to Advertisers/Advertisers.com
Rural Water - Quarter 3, 2018 - 49
Rural Water - Quarter 3, 2018 - From the CEO
Rural Water - Quarter 3, 2018 - cover3
Rural Water - Quarter 3, 2018 - cover4
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