Specifications include, but are not limited to: The Village is requesting proposals from consulting firms to provide a water and sewer rate study that analyzes and evaluates technical and financial data related to the water, sanitary collection, and stormwater conveyance and management systems to develop capital maintenance philosophies and long-range financial planning strategies. The purpose of this study is to determine revenue requirements, cost of service, fee structures, rate design and fund balance targets necessary to sustainably operate the Village’s water and sewer infrastructure as an independent enterprise. The Village seeks to bring together all available information on current operations and infrastructure in combination with future needs to assess the impact on the Village’s operations. Specifically, the Village is seeking the selected consulting firm (“Firm”) to provide: 1. Five-Year Forecast: Develop a detailed forecast of revenues, operation, and maintenance expenses, and capital improvement costs for a five-year study period. 2. 20-Year Improvement Plan: Develop a comprehensive 20-year plan to address critically aging water and sewer infrastructure, ensuring compliance with the Lead Service Line Replacement and Notification Act as mandated by the Illinois Environmental Protection Agency (IEPA). This plan will focus on upgrading the Village’s critically aging network, including water mains, sanitary sewers, and storm sewers, many of which date back to the early 20th century and are, or are approaching, 100 years of age. Additionally, the aspects of this recommended plan should provide a base framework for assessing Utility Fund financial solvency beyond this 20-year period.