Oneida-Herkimer Solid Waste Management Authority

Management’s Discussion and Analysis

December 31, 2022 and 2021

Financial Highlights

This section of the report presents management’s discussion and analysis of the Authority’s financial position as of December 31, 2022 and 2021, and other significant pertinent financial information.

The 2022 financial report continues to reflect the strong operating results of the Authority. The Authority has increased its net position by $6.06 million and $6.44 million for the years ended December 31, 2022 and 2021, respectively. This was the result of several factors including:

 Overall revenues increased $911,147 or 2.99% in comparison to 2021.

 The Authority’s tipping fee revenues exceeded budget by $5,145,413. The Authority exceeded budget expectations for direct haul special waste, asbestos, source separated organics, municipal solid waste, and C&D material.

 The Authority earned $2,630,836 in recycling sales during 2022, which was $724,923 less than 2021. The decline is attributed to declines in market values of recyclable materials.

 The Authority sold Landfill Gas and shared in a Power Purchase Agreement, per its contract with Waste Management Renewable Energy, and generated $501,311 in revenue.

 The Authority sold carbon credits resulting in $808,970 of revenue during 2022.

 In 2022, the Authority processed recyclables for Oswego, Lewis, and Fulton Counties. The Authority earned $841,230 in processing fees.

 Interest expense decreased by $105,681 from 2021, resulting from scheduled debt principal payments and the redemption of the 2011 Revenue Bond issue.

 The Authority also funded reserves for landfill equipment in the amount of $800,000 for 2022 and for the extension of the landfill liner in the amount of $1,600,000.

 The Authority, once again, fully funded its closure and post-closure funds for the Ash Landfill and Regional Landfill.

Financial Analysis

The statements of net position and statements of revenues, expenses, and changes in net position and other selected information provide information to management for analysis and planning. These two statements report the Authority’s net position and changes in net position.