The rural business communities of Broke and Fordwich in the Hunter Valley constantly searches for ways to secure access to their most precious resource – water.
In 2000, the Broke Fordwich community saw their opportunity. With enormous resolve, cooperation and commitment, the Broke Fordwich Private Irrigation District (PID) was established to deliver water from the Hunter River to its members which included vineyards, olive groves, dairy and grazing properties, to become the second largest privately owned scheme in NSW.
Broke Fordwich PID was struggling to obtain clear financial reporting. It’s member communications and invoicing were time consuming and often ineffective and unreliable. Saywells was introduced to Broke Fordwich PID from another happy PID client and so the relationship began.
With a membership of well over 200 properties, delivering 3,000 mega litres of water to an area of approximately 200 km2, it is crucial for the Board to have relevant and accurate data reporting. They need to trust that their members are being heard and professional responses given. Importantly, invoicing and debtor management needs to be under control at all times.
With a thorough understanding of their Water Act obligations as well as their tax and member requirements, we determined that the starting point was compliance reporting. Through further discussion and investigation, it became evident that the real overall solution would involve a lot more help. Their needs included reports to the Board, invoicing and crediting members, providing annual audits of the financial reports, co-ordinating any change of ownership implications to properties under the PID, and regular monthly meetings to remain accountable and on top of other matters as they unfolded.
Working closely with the Board, Saywells designed a comprehensive reporting, bookkeeping and secretarial solution that addressed Broke Fordwich PID needs.
Broke Fordwich PID is now a viable operation, which according to the Board has had “a very positive effect in the region, influencing the quality and quantity of grapes grown, the carrying capacity of grazing land and the production of crops such as olives and fodder. It has also had a positive effect on employment in the region and has been a great boost for the tourism industry”.
With Saywells advice and support that includes monthly financial reporting, they are now financially in control and meeting their financial obligations. They communicate professionally with their members and invoice them accurately which has overcome cashflow issues. In short, we have eliminated Broke Fordwich PID’s financial management headaches.
“Saywells have really given the Board confidence in our finances and member dealings are in great shape. Their professional and proactive assistance has been invaluable”.