Event Voluntary Disclosure
The Lake Stevens Sewer District (District) is making this voluntary disclosure regarding the effects that the COVID-19 pandemic has had on the District. The District may or may not update this disclosure in the future at their discretion.
On March 17, 2020, with the recommendations from the Governor’s Office and the Department of Health, the District closed their Administrative Office to the public, encouraged limited face-to-face interactions between staff as much as is practical by using email, text, and telephones. The District also separated the maintenance and collection staff to various locations around the District to help maintain the physical distancing requirements. District management asked that if any employee or someone in their household has been confirmed to have been exposed to the COVID-19 virus, that they do not come to work for a minimum of 14-days. If at any time during that 14-day period, they showed any symptoms, they contact their medical care provider and get tested. If the test results come back negative and they are no longer symptomatic, they may return to work.
The District has moved from in-person Board Meetings to a virtual platform with GoToMeetings. Also going to virtual platforms have been the District’s Utility Committee meetings, monthly safety meetings, any necessary administrative staff meetings, and any other meeting that are needed.
We do not foresee a significant impact on our financial condition. With the stimulus checks and extra unemployment benefits, our rate payors continue to make their monthly payments. The number of payments coming in each month has remained steady as well as payment amounts. Our monthly utility receivables are budgeted at $1,169,600 per month and we have exceeded that amount for the months of January through May. Our five-month budgeted utility receivables are $5,848,000 and we have collected $5,931,732.
Our expenses remain steady and on budget. The District has purchased extra personal protection equipment, expending approximately $3,700 year to date. The only other financial impact to the District is for the two construction projects that are currently underway due to special COVID-19 contractor compliance, delays in material delivery and extension of construction work days which result in additional construction management costs. To date the additional COVID-19 expenditures are $52,128.54.