Annual Shareholder Letter
October 21, 2016
ERDA ACRES WATER COMPANY, INC.
A Non-Profit Company
P.O. Box 11
Tooele, Utah 84074-0011
October 20, 2016
To: Erda Acres Water Company Shareholders
Subject: Annual Shareholder Meeting.
The annual shareholder’s meeting will take place on Thursday, November 10, 2016 from 7:00-9:00 p.m. at the Erda Fire Station on Erda Way. At the meeting Board Members will share information on the status of the water system and the activities for the coming year. The 2016-2017 budget will be presented for your approval. You will also be asked to approve the water rates for 2016-2017 and elect Board members to run the company in the coming year. In addition, an update on the loop construction project will be presented.
The Board is recommending no change in the water rates for 2016-2017. The growth in the number of shareholders has covered the increase in expenses. We have not had an increase since the completion of the new system but an increase in the future will be needed. The current rate for your monthly water bill is as follows: $40.00 monthly base fee + $0.75 for each 1,000 gallons of water used up to 70,000 gallons + $1.25 for each 1,000 gallons of water used over 70,000.
Since our finances are sound and reserves healthy, the loop construction project should be completed connecting the water line between Cochran Lane and Autumn Cove along Church Road. This will improve the functioning of our system for all shareholders north of Erda Way. The new development on Liddell Lane is contributing toward the project and as additional developments are tied to our system we will be reimbursed for this expenditure. More details on this project will be presented at the annual meeting.
We are continuing to make a few repairs and upgrades to the system to address meter reading, leaks, and operation of fire hydrants but the system overall is operating well. We did replace the motor on the Campbell Well this spring. Alan Clark, a former shareholder, is the lead operator and works as a part-time contractor for the company. We also have 3 licensed operators in the company (Gerald Brockbank, Tom Isom, and Allan Deware) who are assisting Alan. In the future, also we grow we will to need to employ an operator.
Enclosed with this notice are the proxy form and meeting agenda. The other meeting materials including the proposed budget and meeting minutes from last year’s shareholders’ meetingcan be found on the company website at erdawater.com. You can register on the website for notices and alerts and can now pay your bill on-line at the site. Please come, participate, and vote on the decisions that will shape our community.
If you have any questions, comments or concerns, feel free to contact me or any of the other board members.
Tom Isom, President
Erda Acres Water Company