The meter system having a portable water meter that is releaseably mountable onto a discharge nozzle of the fire hydrant and a flow sensor that senses the water flow rate passing therethrough the portable water meter. A processor receives, processes, and/or stores data from the flow sensor and a satellite positioning system. The hydrant meter system further has a communication device that is adapted to transmit the processed flow signal and the processed positioning signal to a remote server system via a communication medium. The hydrant meter system allows for automated water utility resource measurements, data collection and exercise of control and notification of fire hydrant water usage.