What financial factors challenge utilities?

Pennsylvania's Capability Enhancement Strategy Technical Guidance Number 383-0400-114 published by DEP states:

Factors that can impair system financial viability are:

  • Those responsible for assuring adequate resources to successfully operate a system often lack an understanding of what is required to meet the federal and state requirements.
  • Small systems often do not possess the funding or resources to maintain a professional staff. Lack of professional staff familiar with system financing results in underestimating system revenue needs until a financial crisis arises.

I believe adequate resources are a problem for all systems no matter the size or staff.  However, just because resources are limited doesn't mean the staff isn't professional.

What do you think the financial factors are that challenge utilities?