Title
Consider a resolution authorizing the Mayor to execute a Professional Consulting Services Agreement with Raftelis Financial Consultants, Inc. related to the FY 2027-29 Rate Study.
Body
For the past few rate updates, the City has contracted with Raftelis Financial Consultants, Inc. to review the water and wastewater rates that the City charges to both our retail and wholesale customers. The City has committed to a once every three year schedule to update the water and wastewater rates to ensure that our rates are set to recover the cost of providing these services.
In order to stay on this schedule, it is now time to review these water and wastewater rates. This professional services work authorization contract is to review, update, and recommend changes to the various rates and fees that fund the water and wastewater utilities.
Tasks under this contract include updating the water and wastewater rate models, examining water and wastewater rate alternatives, and determining water and wastewater rates for both retail and wholesale customers.
The rate study update is anticipated to be completed in June 2026.
Cost: $121,437.00
Source of Funds: Utility Fund