Wilmington, City of - Dept of Finance

The document provides logistical details for a virtual meeting of the Pension Commission, including the date, time, and connection information for access via Microsoft Teams and dial-in phone numbers. No specific discussion topics or agenda items beyond the designation of the meeting itself are present.

This document presents a preliminary financial plan for the Water and Sewer Enterprise Fund of Wilmington Utilities, spanning Fiscal Years 2027 to 2032. The plan aims to achieve long-term financial resilience and reliable services by establishing best practices. Key areas include strategies for financial recovery, stability, and sustainability, detailed projections for revenues, operations and maintenance costs, and a significant six-year Capital Improvement Program totaling $412.2 million. It also addresses various financial scenarios and customer affordability initiatives.

The key topics scheduled for discussion during the meeting include the Call to Order, the Approval of Minutes from the Previous Pension Board Meeting, a presentation from Marquette, and updates regarding the Cheiron OPEB Plan, concluding with Adjournment. The meeting is designated as a public meeting and will be held at an anchor location in the City County Building or via Zoom.

The primary focus of the meeting was a presentation by Black & Veatch regarding Preliminary Revenue Projections for the water and sewer enterprise fund covering FY 2026 through FY 2032 under existing rates. The presentation detailed the six-year financial planning process, assumptions for retail and wholesale revenue projections, and consumption trends which showed a system-wide decline in FY 2024 and FY 2025 compared to FY 2023. Following this, Public Works presented the six-year (FY 2027-FY 2032) water and wastewater Capital Improvement Program (CIP), which emphasizes water projects due to regulations like LCRR and PFAS. The total six-year CIP is projected to be $412.2 million, covering treatment plant upgrades, distribution improvements including lead service line replacements, and wastewater treatment plant upgrades. The session concluded with an executive session.

The Board's New Business agenda included several zoning appeal requests requiring variances. These applications covered requests to reestablish a restaurant/grocery at 800 North Church Street, permission to operate a child day care center at 2618 North Van Buren Street, permission to reactivate a nonconforming restaurant use at 308 East 11th Street, and permission to convert a building at 738 East 11th Street into a coffee shop and six apartments, which also involved requesting a variance for the rear yard requirement to allow a third-story addition. The hearing was scheduled to be conducted both in person and virtually.