Title
Consider a resolution authorizing the Mayor to execute a Professional Consulting Services Agreement with Raftelis Financial Consultants, Inc. for a 2017 Water and Wastewater Utility Rate Study.
Body
In 2014, the City initially contracted with Reftalis Financial Consultants, Inc. to review the water and wastewater rates that the City charges to both our retail and wholesale customers. At that time, the City 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. In addition, we are also including a task to review, update, and recommend changes to the current drainage utility rates.
Tasks under this contract may include updating the water and wastewater rate models, examining water and wastewater rate alternatives, updating the drainage financial plan and rate model, examining the regional stormwater management program (regional detention) fee and structure, etc.
Cost: $150,000.00
Source of Funds: Utility Fund
Recommended Action
Staff recommends approval.