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OCN > 2411 > El Paso County Regional Loop Water Authority, Oct. 17 – Board hears financial reports

El Paso County Regional Loop Water Authority, Oct. 17 – Board hears financial reports

By James Howald

In October, the El Paso County Regional Loop Water Authority (EPCRLWA, or the Loop) board received the results of its 2023 audit and a report on its monthly finances. John Kuosman, a water practice leader with Merrick and Co. who serves as the Loop’s workflow manager, gave the board an update on his activities. The board considered a request from one of its providers to address a potential conflict of interest regarding the Loop’s law firm Spencer Fane.

The Cherokee Metropolitan District was represented at the meeting by Kevin Brown, who replaces Amy Lathen as the Loop’s treasurer.

2023 audit receives clean opinion

Kath Fromm, of Fromm & Co., the Loop’s accountant, told the board that the audit of its 2023 finances had received a clean, unmodified opinion and she had filed copies of the audit report with Colorado’s Department of Local Affairs and other states agencies as required. The board voted unanimously to accept the audit report.

Fromm said she had sent the board members copies of a draft budget for 2025 and recommended they hold a public hearing on it at the board meeting in November.

Board President Jessie Shaffer asked Fromm when the Loop would be reimbursed by the El Paso Board of County Commissioners (BOCC) for expenditures that are covered by the money the BOCC received from the American Recovery Plan Act (ARPA). Fromm said she had submitted a reimbursement request on behalf of the Loop and she would check with the BOCC about the timeframe for reimbursement.

Shaffer listed the invoices submitted to the Loop in October:

  • Colorado Water Congress dues, $2,050.
  • Fromm & Co., $5,026.
  • JVA Inc., $3,230.
  • Spencer Fane, $7,608.

The board voted to authorize payment of the invoices.

Progress report

Kuosman told the board that he had worked with Fromm on the draft budget for 2025, and it reflects financial requests from participating water districts beyond the initial $4 million that ARPA provided for the project. He will meet with the county to discuss the Loop’s projected costs for engineering, design, and land acquisition for 2025. He said those projected costs would be used by the county to encumber the ARPA funds that the county disburses.

Kuosman said he was brainstorming with Vidler Water Co. Inc. and Tallgrass Water, a water infrastructure company, concerning how to connect the Loop’s pipelines with existing infrastructure.

Potential conflict of interest resolved

Nicole R. Peykov, the Loop’s attorney, told the board that her firm, Spencer Fane, represents a subsidiary of EPCOR in another state. EPCOR is one of the Loop’s partners and has asked the Loop to provide a waiver regarding any potential conflicts of interest, which Peykov said were unlikely to occur. The board voted unanimously to approve a letter Peykov drafted waiving EPCOR from any liability arising from potential conflicts of interest.

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The next regular meeting is scheduled for Nov. 21 at 9 a.m. Regular meetings are held on the third Thursday of each month at 9 a.m. at the Monument Town Hall at 645 Beacon Lite Road. Workshop meetings are held the first Thursday of each month at 9 a.m. at the Cherokee Metropolitan District offices at 6250 Palmer Park Blvd., Colorado Springs. Please see loopwater.org or call 719-488-3603 to verify meeting times and locations.

James Howald can be reached at jameshowald@ocn.me.

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