Title
Consider a resolution authorizing the Mayor to execute a Professional Consulting Services Agreement with Raftelis Financial Consultants, Inc. for a Fiscal Year 2021 rate study update.
Body
In 2014 and 2017, the City 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.
Cost: $124,476.25
Source of Funds: Utility Fund