The Winchester Municipal Utilities Commission is considering options to finance more than $8.7 million in upcoming expenses this year and will need to finalize a decision by early next month to meet a summer deadline.
According to a presentation Thursday, the utility is facing $6.4 million in costs as it ramps up plans for a new water treatment plant in the Lower Howards Creek watershed.
Another $2 million in principal and interest payments are due on a $5 million bond anticipation note, which is scheduled to mature in June. Also, officials expect to spend around $360,000 on capacity, maintenance and environmental programs related to WMU’s consent decree with the U.S. Environmental Protection Agency.
“We wanted to start this process early on so we can work through whatever questions we have tonight or at the next meeting,” said the utility’s financial adviser, Chris Bowling.