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Memorandum 15-118 Water and Sewer Rate Recommendations for 2015
Memorandum ID:
15-118
Memorandum Status:
Failed
Related Meetings
Details
Memorandum 15-118
TO: Mayor Wythe and Homer City Council
FROM: John Li, Finance Director and Carey Meyer, Public Works Director
THROUGH: Katie Koester, City Manager
DATE: July 21, 2015
SUBJECT: Water and Sewer Rate Recommendations for 2015
Pursuant to HCC 14.08.080 and 14.04.040 water and sewer rates shall be reviewed annually and amended as necessary.
2. In fiscal year 2014, Water & Sewer Operations result in an actual surplus of $63,932. Please see FY 2014 Audited Financials (CAFR page 72). Backing out the investment income and the non-budgeted special assessment revenue, Water and Sewer Operations still have a $23,073 surplus.
Based on the above three reasons, the Consumption Based Rate Model at the current rate level may prove to be sufficient to achieve the original objectives the Council set out to accomplish.
RECOMMENDATION: Approve Memorandum 15-118 to maintain water and sewer rates at their current level.
