KYLE MURPHYStaff Writer

The Tullahoma Utilities Authority Board of Directors recently approved a resolution to submit a budget for water and wasterwater that would meet the requirements of the Tennessee Comptroller’s Office.

In the October meeting, TUA President Brian Skelton said that the Comptroller’s office had recently changed its requirements for submitting approved water and wastewater budgets and TUA’s current budget did not meet these requirements. Per Skelton, TUA had to adjust the presentation of the budget to include depreciation and exclude the purchase of assets. The reason for the change of the Comptroller’s requirements are based on the passage of the Tennessee State Senate Bill No. 845, which terminated the water and wastewater financing board and the utility management review board, and created a new state board of utility regulation in the Comptroller’s Office of the Treasury.

“Purchased assets are expensed through depreciation over the established useful life of the asset, which is accounted for in this budget presentation,” Skelton said in a memo sent to the board.

He and TUA CFO Jason Penny said that the budget presented to the board has not change, but just how it is presented.

“This budget (the Comptroller’s office) want to include depreciation. We had to make some adjustments to it, but like (Skelton) said nothing changed as far as the budget that was approved it was the presentation to meet the standards of the Comptroller’s office,” Penny said.

Skelton added the intention for the budget next year would be for the board to approve the same budget they always approve, and to also approve a co-budget to present to the Comptroller’s office in the presentation they require.

With no further discussion, the board unanimously passed approved the water and wastewater budget and the resolution as presented.