SMRSA’s Reaction to SMRSA’s Reaction to Super Storm SandySuper Storm Sandy

Association of Environmental Association of Environmental AuthoritiesAuthorities

Wednesday, January 16, 2013Wednesday, January 16, 2013

SMRSA’s Reaction to SMRSA’s Reaction to Super Storm SandySuper Storm Sandy

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

From an administrative/ From an administrative/ financial perspective, financial perspective, the SMRSA was faced the SMRSA was faced

with two important with two important challengeschallenges

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

• How to respond to a 7.5MM exposure on a How to respond to a 7.5MM exposure on a 6MM budget6MM budget

Lake ComoLake Como 1.5MM1.5MMPitney AvenuePitney Avenue 1.5MM1.5MMBelmarBelmar 1.5MM1.5MMPenn Ave.Penn Ave. 1.5MM1.5MM

Protective Measures and Initial ResponseProtective Measures and Initial ResponseThru 12/13/12Thru 12/13/12 1.5MM1.5MM

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

• The Authority has already committed to The Authority has already committed to Lake Como, Penn Ave. and the Protective Lake Como, Penn Ave. and the Protective

Measures/ Initial Response ExpensesMeasures/ Initial Response Expenses

So the question that begs to be answered is:So the question that begs to be answered is:

• How does the SMRSA pay for these much How does the SMRSA pay for these much needed projects without bankrupting the needed projects without bankrupting the

Authority ?Authority ?

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

• SMRSA Asset Management ProgramSMRSA Asset Management Program– Reserve Funds have been usedReserve Funds have been used

• Capital Improvement ProgramCapital Improvement Program– Reserve Funds have been usedReserve Funds have been used

• Rate Stabilization FundsRate Stabilization Funds– Funds have been usedFunds have been used

• ‘‘Green Energy’ ProgramGreen Energy’ Program– Funds have been usedFunds have been used

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

• Funding Alternatives include:Funding Alternatives include:FEMA Re-Imbursement of CAT A & B FEMA Re-Imbursement of CAT A & B

ExpensesExpensesFEMA MitigationFEMA Mitigation

New Jersey Infrastructure TrustNew Jersey Infrastructure TrustMonmouth County Improvement AuthorityMonmouth County Improvement Authority

Authority Project NotesAuthority Project NotesStand Alone Bond IssueStand Alone Bond Issue

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

• It is important to engage Commissioners, It is important to engage Commissioners, engaged professionals, and relevant engaged professionals, and relevant

management team members in forming an management team members in forming an opinion and assist in the decision making processopinion and assist in the decision making process

• After weighing all the facts and responses, it is After weighing all the facts and responses, it is important to make a prudent and informed important to make a prudent and informed

decision in a timely mannerdecision in a timely manner

• After deciding the best course of action, it is After deciding the best course of action, it is important to implement the game plan important to implement the game plan

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

•In addition to everything In addition to everything else that was mentioned, else that was mentioned, be mindful and sensitive be mindful and sensitive to the rate payers and to the rate payers and

end users we serveend users we serve

SMRSA’s reaction to SMRSA’s reaction to Super Storm SandySuper Storm Sandy

•How to house and feed How to house and feed Authority staff three meals a Authority staff three meals a day in a portion of the state day in a portion of the state where there were no open where there were no open food stores and electricity food stores and electricity

was scarce for days ?was scarce for days ?