Maine Water hires one accountant, says goodbye to another

May 17, 2017

Saco — Maine Water welcomes Richard Serino as the company’s accountant. Serino comes to Maine Water from Avangrid Inc., where he was lead analyst - income tax. He has advanced experience in accounting, fixed assets and tax software, including Power Tax. The focus of his work has been regulatory reporting, fixed-asset closing and depreciation.

Serino’s new role with Maine Water will focus on fixed-asset and capital spending, along with accounts payable and monthly accounting duties. Serino’s hire comes at a time when Maine Water has seen significant growth in its capital spending. In 2012 the company’s capital spending was $2.0 million, and in 2017 it is projected to be $8.7 million. Further, in 2017 approximately $5.1 million of the $8.7 million is allocated for replacement of aging water mains and other infrastructure through the Water Infrastructure Charge. Replacing infrastructure, and properly accounting for it, is critical to maintain and enhance water quality, improve reliability of water service and support public fire protection.

Serino was able to work with Robert Theriault, accounting manager and CPA, who retired as of May 5. Theriault began his 21-year career with the Biddeford & Saco Water Co., which became a part of Maine Water in 2012. Over his career, he played key roles in customer service and accounting and was in contact with community leaders.

Maine Water serves 32,000 customers, or a population of 100,000, in more than 20 communities throughout the state of Maine. For more information, visit: MaineWater.com.

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