In the early months of 2020, the uncertainty on whether or not there would be any business on the island during the summer was heightened enough that town financial planners braced for a 50 percent drop in revenue associated with tourism.
The Wastewater Treatment plant and the Water Company were no exception. The two departments planned to dig deep into their cash reserves. But the numbers for July were surprisingly high.
Assistant Finance Director Mona Helterline provided the data to the members of the Water and Sewer Commission on Monday, Aug. 17.
For the Water Company, July 2020 saw an eight percent decrease in revenues over what was collected in 2019.
The Sewer Company saw a 9.5 percent drop in revenue compared to 2019.
The numbers for August are not expected to be as strong, in part because of the sudden travel ban that was implemented by four neighboring states, which was rescinded a month later.
“All in all we lucked out,” said Helterline. “Any unanticipated revenue reduces the use of reserves and will allow us to maintain a healthy reserve level.”
The contribution from the Water Company’s reserve fund for 2021 was approved at $201,966 (as opposed
