Weatherford
Weatherford City Council (Municipal Utility Board), June 10, 2014: 1 item; Presentation regarding the Cost of Service and Rate Design (COS/RD) Study
0 consent items, 1 regular item. Written from the minutes.
Presentation regarding the Cost of Service and Rate Design (COS/RD) Study. Assistant City Manager Sharon Hayes presented this item stating that the last time the City conducted a rate study was in 2008. In Fiscal Year 2013-14 funds were budgeted to update the Cost of Service and Rate Design (COS/RD) study for utilities. On October 24, 2013, the Municipal Utility Board approved funding to begin this study. Ms. Hayes introduced Tony Georgis and Chris Eckert from NewGen Strategies. They will provide an overview and take input from the Council and Board today. That information will be incorporated into the study and discussed with the Board on June 26. It is anticipated that they will return for the July meeting with a completed report. Mr. Georgis stated that revenue requirement components include: operation and maintenance expense; other cash or non-cash expenses; debt service; debt service coverage; capital paid from current earnings; and taxes or in lieu of taxes; less other non-rate income sources. He explained the steps involved in the COS/RD study and noted that the primary variables are rate changes, debt issuances, and capital. The total electric revenue requirement forecasted for 2015 through 2019 is $37,772,788. The total water revenue requirement forecasted for 2015 through 2019 is $16,617,047. Mr. Georgis spoke about the use of lake lot license revenues. These [...]
Compiled from the city secretary's minutes by the Ledger's extractor, in the minutes' own wording, item by item; the Ledger adds no characterization. Read the minutes for the full record.
Sources: City of Weatherford: council minutes, June 10, 2014 (Granicus); Agenda for this meeting (Granicus); Meeting video (Granicus)