Title
Discussion of issues relating to the Water and Wastewater Rate study performed by NewGen Strategies and Solutions.
Body
Summary:
On June 4, 2024, the City Council authorized an agreement with NewGen Strategies and Solutions for a water and wastewater rate study. The purpose of the study is for the company to independently assess and evaluate the City’s existing water and sewer rates using financial and consumption information and provide recommendations for water and sewer rates for all customer classes. The objective of the study is to adequately fund water and sewer utility operations, capital costs, and debt service while minimizing rates to the greatest degree possible.
NewGen Strategies and Solutions performed the study, and will discuss their findings and recommended course of action regarding water and wastewater rates for the next five years.
Fiscal/Budgetary Impact:
5% annual increases in water and wastewater rates are proposed for FY 2024-2025 through FY 2029-2030.
Recommended action
Discussion only during workshop. A water and wastewater rate ordinance is included on the 9-17-24 Regular Council Agenda for consideration and possible action.