SMRSA’s Reaction to Super
Storm Sandy
Association of Environmental
Authorities
Wednesday, January 16, 2013
SMRSA’s Reaction to
Super Storm Sandy
SMRSA’s reaction to
Super Storm Sandy
SMRSA’s reaction to
Super Storm Sandy
SMRSA’s reaction to
Super Storm Sandy
From an administrative/
financial perspective, the
SMRSA was faced with
two important challenges
SMRSA’s reaction to
Super Storm Sandy
• How to respond to a 7.5MM exposure on a 6MM
budget
Lake Como
Pitney Avenue
Belmar
Penn Ave.
1.5MM
1.5MM
1.5MM
1.5MM
Protective Measures and Initial Response
Thru 12/13/12 1.5MM
SMRSA’s reaction to
Super Storm Sandy
• The Authority has already committed to Lake
Como, Penn Ave. and the Protective Measures/
Initial Response Expenses
So the question that begs to be answered is:
• How does the SMRSA pay for these much
needed projects without bankrupting the
Authority ?
SMRSA’s reaction to
Super Storm Sandy
• SMRSA Asset Management Program
– Reserve Funds have been used
• Capital Improvement Program
– Reserve Funds have been used
• Rate Stabilization Funds
– Funds have been used
• ‘Green Energy’ Program
– Funds have been used
SMRSA’s reaction to
Super Storm Sandy
• Funding Alternatives include:
FEMA Re-Imbursement of CAT A & B Expenses
FEMA Mitigation
New Jersey Infrastructure Trust
Monmouth County Improvement Authority
Authority Project Notes
Stand Alone Bond Issue
SMRSA’s reaction to
Super Storm Sandy
• It is important to engage Commissioners, engaged
professionals, and relevant management team members
in forming an opinion and assist in the decision making
process
• After weighing all the facts and responses, it is important
to make a prudent and informed decision in a timely
manner
• After deciding the best course of action, it is important
to implement the game plan
SMRSA’s reaction to
Super Storm Sandy
•In addition to everything
else that was mentioned,
be mindful and sensitive
to the rate payers and
end users we serve
SMRSA’s reaction to
Super Storm Sandy
• How to house and feed
Authority staff three meals a
day in a portion of the state
where there were no open
food stores and electricity was
scarce for days ?