Resolution 2014R-100 December 18, 2014.  Board Direction ◦ Establish a “Stabilized” cost-of-service rate of $84.56 1 for FYs 2015 & 2016 that includes.

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Presentation transcript:

Resolution 2014R-100 December 18, 2014

 Board Direction ◦ Establish a “Stabilized” cost-of-service rate of $ for FYs 2015 & 2016 that includes a General Fund Transfer-in 2 of $13,516 in FY 2016 to meet the debt service coverage policy of  No General Fund Transfer-in is required in FY 2015 ◦ Apply the balance of the subsidy to the Cave Rock/Uppaway reserves to address system reinvestment of short-lived assets. 1 Assumes a typical ¾” water service connection 2 The proposed $112,500 General Fund Transfer-in for FY 2016 will be addressed as part of the budget process 2

Current Vs. Proposed Stabilized Rate 3 Current Monthly Rate FY 2014 Stabilized Rate FY 2015 & FY 2016 Annual Rate Adjustment0.00%-25.97% Average Monthly Bill$114.23$84.56 General Fund Transfer-in 1 N/A $13,516 Debt Coverage Ending Fund Balance 2 $481,883$528,904 Minimum Target$203,279$193,577 1 General Fund Transfer-in of $13,516 in FY 2016 only 2 Combined operating, emergency and capital reserves as of 6/30/16

 Adopt Resolution 2014R-100 establishing monthly water rates, private fire service charges and connection charges for the Skyland Water System for Fiscal Years 2015 and 2016, as presented. 4