Pool district earns big energy rebates and will pay back loan early
August 22nd, 2014 - 5:33am
(PORT ANGELES) – The William Shore Memorial Pool will repay and close a line of credit with Clallam County early, using rebates and operational savings.
When the swimming facility was handed over to the newly formed pool district in 2009, financing was needed for the numerous equipment repairs and upgrades the swimming pool required. A district levy throughout the county was established, but it would take a year until revenue would be available. To fill that gap a line of credit was obtained from the county.
Now, with several years of operation under their belt and new efficient equipment, the pool district is ready to pay back that line of credit. Steven Burke is the Executive Director for the pool district, Steve Burke, says an additional $450,000-dollar grant from the state for equipment upgrades contributed to the district's ability to pay back the county, and resulted in substantial savings for everyday pool operations.
As a result of it fiscal know-how, the district will receive the “distinguished Budget Presentation Award” from the Government Finance Officers Association, headquartered in Chicago. This is the 2nd year in a row the pool district has received this award, which contributes to a positive bond rating and helps with the acquisition of future grants.
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