MISI Score
23.8
Watch
Project NC / Beaufort County
Bath
BOTH · Beaufort CountyDistressedPWSID NC0407030
Score Confidence
0.8%
Peer Percentile
51.6th
As of
Jun 2, 2026
EXPLANATION
Score Drivers
- MISI score is 23.803 (Watch).
- Compliance Escalation adds 5.929 points. Operational compliance contributes +6: 4 violations or enforcement actions have been recorded within the last three years. variance weighting adjusted headline contribution from 6.000000 to 5.929.
- Population Served Decline adds 5.464 points. Population trend contributes +6: five-year population change is -5.658497%. variance weighting adjusted headline contribution from 6 to 5.464.
- Climate Hazard Exposure adds 5.398 points. Operational climate hazard exposure contributes +6: FEMA NRI composite score is 88.1700. variance weighting adjusted headline contribution from 6 to 5.398.
- Days Cash on Hand adds 4.044 points. Days-cash contributes +5: current days cash on hand is 47.650 days from connector-sourced ws_days_cash (as of 2024-06-30). variance weighting adjusted headline contribution from 5 to 4.044.
- Missing or unresolved factors: Infrastructure Capital Gap, PFAS Contamination Risk, Project Status Staleness.
MARKET INTERPRETATION
What the data suggests
Bath is a smaller community water system, serving approximately 290 residents. At the latest reading, Munimetric flags the system as showing early but meaningful signs of structural stress.
The score is being driven mainly by Operational Stress, which is running high in the model, with Revenue Fragility adding further pressure. In other words, Operational Stress is doing most of the heavy lifting in the headline score.
5 active stress signals are attached to this system. The breadth of active signals, even without concentrated high severity, suggests pressure across more than one dimension.
Within its peer cohort, this system ranks around the 52nd percentile on measured stress, placing it near the middle of the peer group on measured stress.
Recent score history has been relatively steady, consistent with the system's overall profile.
This summary is based on structured, source-backed public data and is intended for research and monitoring only. It is not investment advice, a credit opinion, or municipal advisory guidance.
SCORE STACK
Family Contributions
Operational Stress14.3 / 20.0
Capex Pressure0.0 / 20.0
Revenue Fragility9.5 / 20.0
Rate Constraint0.0 / 20.0
Governance Risk0.0 / 20.0
SL 2020-79
SWIA Assessment History
| 2024 | 2023 | 2022 | 2021 | 2019 |
|---|---|---|---|---|
| 11 | 10 | 20 | 16 | 21 |
ACTIVE SIGNALS
5 Signals
Days Cash on Hand
Weak unrestricted liquidity reduces the utility's ability to absorb rate, capex, or operating shocks.
Score impact: 4.0 · Family: Revenue Fragility
Compliance Escalation
Repeated or serious compliance failures often indicate rising operational and infrastructure stress.
Score impact: 5.9 · Family: Operational Stress
Current Drought Severity
Active drought conditions stress source-water availability and treatment operations.
Score impact: 3.0 · Family: Operational Stress
Population Served Decline
A shrinking served population weakens the customer base and raises infrastructure cost per customer.
Score impact: 5.5 · Family: Revenue Fragility
Climate Hazard Exposure
Elevated drought and flood exposure raises outage, source-water, and infrastructure reliability stress.
Score impact: 5.4 · Family: Operational Stress
HISTORY
Score Trend
Latest
23.8
Trend
+23.8
Observations
48
NC TREASURER FBA
Financial Benchmarks
Population241
General Fund Expenditure$291K
Fund Balance Available$293K
Fund Balance %100.8%
Cash & Investments$355K
Assessed Valuation$51.7M
Tax Rate0.3
Effective Tax Rate0.2
Tax Collection %100.0%
Amount Uncollected$0
Days Cash on Hand
48
Days Cash As Of
Jun 30, 2024
Population Served
290