Specifications include, but are not limited to: 1. Background and Objectives: - Provide an overview of the water and wastewater systems, including current rate structures, revenue sources, and future capital needs based on the system's master plans. - Define the objectives of the study, including assessing the adequacy of current rates, analyzing the impact of future growth on infrastructure, and recommending adjustments to rates and impact fees to ensure financial sustainability. - Provide multiple options regarding rate structures showing comparisons between rate increases with no adjustment to impact fees, adjustment to rate structures with impact fee adjustment, and adjustment to both impact fees and rate structures. 2. Data Collection and Analysis: - Gather and analyze data on water and wastewater usage, operating costs, capital improvement plans, population growth projections, and regulatory requirements. - Review historical financial data and conduct benchmarking analysis with comparable utilities. 3. Financial and Rate Analysis: - Conduct a comprehensive financial analysis to evaluate the financial health of the utility systems. - Develop financial models to forecast revenue requirements and assess the sufficiency of current rates to meet operational and capital needs. - Evaluate various rate structures, including senior citizen discounts, and recommend adjustments to achieve cost recovery objectives. 4. Impact Fee Assessment: - Assess the impact of future growth on water and wastewater infrastructure needs. - Develop impact fee methodologies based on the principle of proportionate share and assess the adequacy of existing impact fees. - Recommend adjustments to impact fees to mitigate the impact of new development on infrastructure costs. 5. Stakeholder Engagement: - Engage stakeholders, including utility staff, elected officials, community members, and developers, throughout the study process. - Present findings to City Council and Water and Wastewater Advisory Committee...
