Subject:
Title
Public Hearing for FY2015-2016 Water and Sewer Rates
Body
EXPLANATION AND SUMMARY: Last year a Water and Sewer Rate Study was completed in order to maintain the financial health of the fund, to fairly balance the consumption and revenue, to ensure rates cover full cost of operations and debt service which finances capital projects, and to incorporate Council's initiative of conservation by incorporating incentivized rate structure.
It is the intent to review the financial health of the fund each year; however, to adjust the rates as needed every other year. The Water and Sewer fund and corresponding rates from FY 2014-2015 are on track with projections so no rate adjustment is required for FY 2015-2016.
A public hearing is provided for Town residents to have the opportunity to voice their comments concerning the water and sewer rates.
Departmental Recommendation: Recommend public hearing.
Finance Recommendation: Recommend public hearing.
Purchasing Recommendation: N/A
Town Attorney Recommendation: In accordance with the state and Town Code, the Town Attorney recommends a public hearing be conducted on the proposed FY2015-2016 Water and Sewer Rates.
Town Manager's Recommendation: I recommend the Town Council approve of the Fiscal Year 2015-2016 Water and Sewer Rates as presented, and that the Town Clerk be directed to advertise Notice of Intent to Adopt at the Council meeting of May 11, 2015 following the Town Council's consideration.
Cost and Financing: N/A
Account Number: N/A
Decision Needed by This date: N/A
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to close the public hearing."
"I further move for the (approval/disapproval) of the Fiscal Year 2015-2016 Water and Sewer Rates, and that the Town Clerk be directed to advertise Notice of Intent to Adopt at the Council meeting of May 11, 2015, following the Town Council's consideration."
Or
Other action deemed necessary by Council.
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