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Westernport Water shows profit in 2009 annual reportKeeping costs under control has paid dividends for Westernport Water with its newly released annual report showing the organisation recorded a modest net profit* of AUD$2.985 million in 2008/09.
By Westernport Water - 15th October 2009 - Back to News According to Westernport Water Managing Director, Murray Jackson, the results were pleasing given the adverse effect on revenues brought about by water saving measures for most of 2008/09.
"We wanted to concentrate on reaching our performance targets in the 2008/09 financial year while still delivering value for money and improved services for our customers, and I think our financial results demonstrate we succeeded," he said.
"At the same time we recorded lower than expected figures for customers receiving unplanned water supply interruptions, and we met our sewerage spill containment target."
Other highlights in the 2009 annual report, tabled in the Victorian Parliament today, were:
· Securing the water supply through augmentation initiatives such as a Bass River bulk entitlement and investigations of sustainable extraction from the under-allocated Corinella aquifer.
· Significant steps to improve the quality the water that included a chloramination trial to reduce chlorine taste and odour.
· Major improvements to business systems including roll-out of new SCADA and GIS systems to monitor and control the water, wastewater and gas networks; and a new customer payment system that lets people settle their accounts online or by telephone.
· AUD$840,000 in funding from the Department of Human Services to prepare for fluoridation of the water supply system due in December 2009.
According to Mr Jackson, 2009/10 and beyond to 2013 will be geared towards advancement on major capital works projects to ensure reliability of supply.
This includes increasing capacity of the Candowie Reservoir and agreement to connect to the Melbourne Water desalinated water pipeline.
"Like a lot of rural communities around Australia, our customers value their water.
"In August 2008, we moved from stage 2 restrictions to permanent water savings measures and our customers responded by using even less water.
"Yet in 2008/09, 34 percent of our reservoir capacity overflowed from the spillway and similar levels of spillage are occurring as a result of the October 2009 rains.
"That is why in 2009/10 we will be advancing the detailed design for Candowie Reservoir so we can complete the project by 2013 and capture more water during heavy rain periods.
The Westernport area remains on permanent water savings measures. You can check these measures at www.westernportwater.com.au or phone 1300 720 711.
The 2009 annual report can be found at http://www.westernportwater.com.au/About/AnnualReports/.
*Net profit figure is influenced by the amount of capital revenue recognised relating to – AUD $840,000 from DHS for fluoridation project; AUD$780,00 in-kind water and wastewater assets received developer of major residential subdivision; and AUD$700,000 advanced payments for works performed by the Corporation over the last two years.
Source: www.gippsland.com Published by: mbird@westernportwater.com.au
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