Housatonic — As residents continue to deal with multiple ongoing issues with water quality, a new report reveals that Housatonic Water Works President Frederick Mercer and Treasurer James Mercer both received a bump in their salaries for 2021. After the state sent a letter in August to the troubled company that it was delinquent in filing its annual return for 2021, the company recently filed the return.
According to Massachusetts General Law, water companies are required to file their return annually or before March 31. The annual return lists financial statistics for companies, including salaried officers, investments, and various assets for the filing year.
The return, which is available on the state’s website, reveals that both Frederick Mercer and James Mercer earned $110,823 each in 2021, an increase of $3,228 from 2020. Over the past five years, since 2016, both Frederick Mercer’s and James Mercer’s salaries have increased by $15,226.
The company’s operating income statement for 2021 lists that it had net operating revenues of $720,259, a decrease of $14,122 from 2020. Meanwhile, operating expenses for 2021 are listed at $717,522, an increase of $35,236 from 2020.
The company lists that, in 2021, it made $625,562 in metered sales of water to customers, a decrease of $6,464 from 2020. It also lists that it made $46,737 in flat rate sales to general consumers, an increase of $299 from 2020.
In 2021, the company did not make any money in sales to other water companies. In the beginning of the annual return, the company lists accounting, legal, testing, and engineering expenses for 2021. For engineering expenses, the company paid Lenard Engineering $20,988, Water Compliance Solutions $27,419, and Cornwell Engineering $4,020 for a total of $52,427 in 2021.
For legal expenses, the company paid Foley Hoag LLP $13,502 and Martin & Olivera $885 for a total of $14,387 in 2021.
The company also paid $15,552 to Berkshire Enviro-Labs for testing expenses and $9,500 to Smith Watson & Co. for accounting expenses.
The report lists that the company has four stockholders, with three residing in Massachusetts. The filing does not, however, list the names of the stockholders.