Board Meetings

Welcome to the Broadway Water Association, Inc. Board Meetings Page. 

Summary

Annual Meeting of Broadway Water Association membership will be on Monday evening, June 19 at 5:00 P.M. at Broadway Water Association’s office to discuss the annual financials, discuss current projects, elect two board members and vote on whether Broadway should invest in new radio read meters. Your vote is needed in this very important matterFor those members who cannot attend or stay for the entire meeting, you can pick up your ballot and vote at Broadway Water office beginning at 8:00 a.m. until 5:00 p.m. on Monday, June 19, 2023.

Edward Bauguess, current President, and Keith Mayberry, current Vice-President, whose three year terms expire this year, have agreed to continue serving on the board, if re-elected. Other members who desire to run for the Board in this year’s election may do so as long as they are nominated (at Broadway Water’s office) by 5:00 P.M. on Friday, June 16. 

Cost-Cutting Measures

During 2011 and 2012, a lot of cost-cutting measures have helped to maintain your water rates even though we have had four wholesale water rate increases, including a 19.3% increase this past January. We’re expecting another 16% increase in July. Some of those cost-cutting measures and savings are: 1)  changing auditors—a savings of $2,000 per year, 2)  eliminating the taking of credit cards—a savings of $1,200 per year, 3)  eliminating software maintenance—a savings of $2,500 per year, 4)  eliminating one phone line—a savings of $796 per year, 5)  re-negotiating insurance on buildings and assets—a savings of $3,000 per year, 6)  consolidating two loans—a savings of $16,000 per year, 7)  negotiating with North Wilkesboro to purchase the majority of Broadway’s water—a savings of $30,000 per year, 8)  elimination of bank service charges—a savings of $2,100 per year,  9)  revisions to employee health insurance—a savings of $14,000 per year, and 10)  negotiating with the Town of North Wilkesboro for a six month delay in rate increases—a one-time savings of $12,000. This is roughly $5.00 per membership per month savings.  This doesn’t mean that we will always be able to maintain the current $15 per month minimum; however, your rate should always be $5.00 per month lower than it could have been without these cost-cutting measures. In the past 3 years, we have reduced our loans from over $800,000 to $486,000, consolidated to one loan that will be paid off in 6 years versus 35 years and we have a 3.6% interest rate versus 6.125%.....in all, a savings of over $300,000 in interest.

Radio Read Meters

Broadway’s water meters are ageing---some are as old as 30 years. We are currently replacing several meters each month with the manual read meters. Reading the meters is cumbersome as it takes two people to read meters and 3 to 4 days each month to complete the readings. Also, weather conditions sometimes delay the readings. Since this is a rather large investment, the Board of Directors decided that the membership should be allowed to vote on this matter. The new meters would be more accurate, would be radio frequency and could be read in one day automatically by one person driving through the neighborhood. The readings could also be automatically loaded into the billing software, eliminating the possibility of errors by hand-keying.

The State of North Carolina has agreed to loan the money to Broadway for this project ($226,000) interest free for 20 years, with a 2% loan fee. The payments would be roughly $900 per month. The Board of Directors is in favor of this project contingent upon membership approval. Most of the other water associations in the county are using this new type meter already. We do not anticipate a rate increase because of this project.

Broadway Web Site

Broadway Water has its own web site…. www.BroadwayH2O.com  where we can keep you updated on projects. The Annual CCR (Water Quality Report) is now available online at:   http//BroadwayH2O.com/ccr or, you can call our office (336-667-1483) and request a copy be mailed to you.