Water and Sewer Authority Discusses Reserve Fund

The Clayton Rabun County Water and Sewer Authority discusses the wholesale water rate and their reserve fund.

The discussion took place at their monthly meeting this morning and 10 a.m.

Regarding the wholesale water rate, the authority voted to table the issue until next months meeting to give everyone, including their attorney, a chance to look over the city’s proposal.

The authority then discussed the amount that is in their reserve fund.

Authority member Jerry Krivsky said that the authority actually has more in the reserve than is required based on the wording of the contract, but that number is below the $725,000 that is listed in the current agreement.

“The reserve fund should be $601,175,” said Krivsky. “The authorities reserve fund balance as of October second was $645,662.89.”

This comes after a special called meeting of the Clayton City Council where it was discussed whether or not the water and sewer authority had the correct amount in their reserve fund.