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Peppers Ferry has ‘another sound year’

By MELINDA WILLIAMS

melinda@southwesttimes.com

Peppers Ferry Regional Wastewater Treatment Authority had “another sound year financially,” according to Executive Director Clarke Wallcraft, finishing the year with a net increase of almost $1 million.

In his unaudited 2014 Annual Report to the Authority’s Board of Directors, Wallcraft said the plant processed 230 million more gallons of wastewater than projected during the fiscal year, primarily as the result of “average rainfall being higher than prior five-year averages.” The plant processed 1,759,357,700 gallons of wastewater.

He said total current assets as of June 30 were $4.1 million, including $3.7 million in checking, savings and trust account assets (reserve balance).

Total current assets increased by almost $896,000 during the fiscal year, while total fixed assets decreased by just over $797,000 primarily due to increased depreciation. This resulted in total assets of $17,754,723 — an increase of just over $98,000 during the 2013-14 fiscal year.

Wallcraft said the Authority’s total liabilities decreased by almost $42,000 from June 30, 2013 to June 30, 2014, bringing them to just short of $10 million.

“The result of the asset to liability comparison is a net position increase of $996,141.48 for the year ended June 30, 2014,” said Wallcraft. “… Overall, the Authority increased the bottom line of its balance sheet at June 30, 2014 by $98,254.94 when compared to June 30, 2013.”

New River Pump Station pumped almost 1.5 billion gallons of wastewater to the treatment plant. That was almost 91 million gallons more than expected. Wallcraft said this is the fifth year in a row the New River station has operated at a profit. The net income for the past fiscal year was about $75,000.

Radford Pump Station pumped nearly 531 million gallons of wastewater, which was 45 million gallons more than anticipated, resulting in a net income of $28,000.

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