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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: <br />Originating Department: <br />Presented By: <br />Agenda Item No.: <br />6-16-12 <br />Council Date: <br />Finance <br />Gene Anderson <br />13. <br />6-25-12 <br />RECOMMENDED MOTION: <br />First reading of an ordinance increasing sewer rates in accordance with the J Stowe & Company annual water and <br />sewer rate cost of service study. <br />POLICY ISSUE(S): <br />Fiscal Management <br />At a previous Council meeting representatives from J Stowe & Company presented to the 2012 Water & <br />Sewer Cost of Service Study and answered questions concerning the findings of that study. <br />The current wastewater rates are not sufficient to meet the test year budgeted revenue requirements and <br />the City's Rate Maintenance Policy. Therefore, it is recommended that the City increase its current retail <br />wastewater rates by 6.3%. The following illustrates the increase in the average sewer residential and <br />commercial monthly bills with 5/8" or 3/4" meters. <br />Current Residential Water & Sewer Average Bill $50.81 Proposed Bill $52.57 Change $1.76 <br />Current Commercial Water & Sewer Average Bill $57.18 Proposed Bill $59.18 Change $2.00 <br />Maintaining the financial integrity of the System is a key factor in the City's bond rating. <br />Note that the bill amounts shown above are based on the City of Paris actual average consumption of <br />4,862 gallons per month while the TML survey uses 5,000 gallons per month. This explains the <br />difference in the two total bill amounts. <br />BOARD/ COMMISSION RECOMMENDATION: <br />None <br />EXHIBITS: <br />Ordinance; Updated rate comparison based on TML 2012 survey. <br />ACTION: <br />BUDGET INFO: <br />❑ Financial Report ❑ Minute Order <br />Expense <br />$NA <br />❑ Department Report ❑ Resolution <br />Budgeted Amt. <br />$NA <br />❑ Presentation ~ Ordinance <br />y'I'D Actual <br />$NA <br />❑ Public Hearing ❑ Other <br />Acct. Name <br />NA <br />Acct. Number <br />NA <br />FISCAL NOTES: <br />None <br />City of Paris 56 Revised 2/04/08 <br />