The Arch Cape Water & Sanitary Districts finances are budgeted and reported on a fiscal year basis from July 1st through June 30th of the following year with the modified cash basis of accounting.
The budget committee is comprised of five directors from each district and five community volunteers who serve for three year terms. Long range financial plans are reviewed at least annually to revise operating assumptions, project future revenues and expenditures and plan for significant capital and maintenance expenses.
Where possible, debt and its accompanying interest expense, is avoided in favor of financing district operations from system development charges (SDC's), quarterly rates and excess water usage fees.
Budget vs Actual Financial Statements: Monthly reports reflect the sharing of staff expenses and certain shared designated expense categories on the basis of time spent in respective district operations. They have averaged over the prior three year period at 58% for sanitary and 42% for water and are guided by the Intergovernmental Agreement (IGA)
Meter reading and reporting services are provided to Cannon View Park by staff and an intergovernmental agreement exists between
the districts and the City of Cannon Beach.
Fiscal Budgets: FY 2020-21 Budgets for the Water & Sanitary Districts and present Long Range Financial Plans (LRFP's)
Audits: Audits and reviews are typically filed with the Oregon Secretary of State by December 31st of the year following closure of the prior fiscal period.