Point of Woods CT Sewage
Annual Reports

Water Pollution Control Authority Annual Report 2023

POINT O’ WOODS ASSOCIATION INC
WATER POLLUTION CONTROL AUTHORITY
P.O. Box 186
South Lyme, CT 06376



CLEAN WATER PROJECT LOAN #501-C1 REPORT


Original Loan Obligation December 31, 2010

Balance July 1, 2022

Our Projected Balance June 30, 2023

$7,649,893

$2,957,535

$2,362,010


We thank all property owners for their commitment and payments. This enables us to meet our obligations to the state. Please note the semi-annual payments are due on April and October of each year and remain the same.


POINT O’WOODS ASSOCIATION INC.
WATER POLLUTION CONTROL AUTHORITY
SUMMARY BALANCE SHEET

A total of 118 property owners have paid off their Benefit Assessment since 2010.

The Benefit assessment account represents the receipt of the semi-annual homeowner lien payments net of the payments to the state.

The User fee account shows the net cash flows from the collection of the user fee less cost to manage and maintain the systems.

The Reserve account is what has been reserved for emergency situations or longer-term capex costs.

CASH BALANCES FOR EACH ACCCOUNT


WPCA Accounts


BENEFIT ASSESSSMENT

USER FEE

RESERVE
JUNE 30, 2022
ACTUAL


$458,251

$66,583

$308,378
April 30, 2023
FISCAL YEAR


$238,205

$103,596

$297,234
JUNE 30, 2023
PROJECTED


$206,399

$ 48,300

$297,234

In August 2022, we paid $300,000 down on the Clean Water Loan. Four homeowners have paid off their lien balance in the current fiscal year.

We have no outstanding User Fee bills and $3,409 past due lien invoices from October as of April 30, 2023. This is associated with 5 homeowners.

In addition, at the last annual meeting people asked why the reserve needed to be so high for the WPCA. We have put together the following Capex table to explain why the reserve is needed:

Helen Francis, Treasurer, WPCA



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