BREAKING NEWS: STATE BOARD OF ACCOUNTS AUDIT OF EVANSVILLE WATER AND WASTEWATER UTILITIES

Link to:

Financial Statements Examination Report of Water and Wastewater Utilities of City of Evansville Vanderburgh County, Indiana January 1, 2014 to December 31, 2014

http://www.in.gov/sboa/WebReports/B46027.pdf

Supplemental Compliance Report of the Financial Statements Examination Report of Water and Wastewater Utilities of City of Evansville Vanderburgh County, Indiana January 1, 2014 to December 31, 2014

http://www.in.gov/sboa/WebReports/B46028.pdf

FOOTNOTES:  

The important pages in these reports that you need to read are:

A)  Notes E. and F. that run from page 16 to page 19.   And the public also needs to be aware that the utility had a “total current liability” at the end of 2014 of….. $330,271,913.00.

B)  Note F on page 22 where the utility discusses the rejection of the consent decree where the city agrees to implement the elimination of the CSO over 28 years however, the EPA has rejected based on certain issues. Those issues were that the city would prepare a affordability study to demonstrate that the residences would not be able to support expenditures exceeding $540,000,000.   Could the reason Why did the EPA rejected terms of the study was because in the stipulations our citizens should be able to pay 2.5% of their incomes on water and sewer?

C)  The study that Winnecke presented used only 2% and excluded the incomes in the county which materially distorted the study and quite frankly insulted the intelligence of the EPA officials. This is why our city will eventually be forced into much higher levels of expenditures.   Some engineer we spoke with say the total may exceed $700,000,000.

D)  Now, the other observation, the findings noted within the supplement indicate that the Utility is CASH SHORT by $523,000.  It should be noted that they were CASH SHORT for 2013 was $395,000  The CASH SHORTAGES seems to grow year by year and the State Board of Accounts simply dismisses the occurrence as immaterial.

E)  Coupled with the Civil City and the Utility Department, we are missing cash in the aggregate of $1,182,000 broken down as follows: City = $659,000 Utility = $523,000.

F)  We wonder why doesn’t this terrible situation of CASH STORAGES isn’t reported by the mainstream media?