Laserfiche WebLink
<br /> utility In=ea.ses <br /> . Page Three <br /> What does this Option C mean to the residents in dollar figures? For, <br /> seniors, there would be an additional $5.47/quarter or $16.41 for three <br /> quarters during 1992 and also another $3.16/quarter or $12.64 per year <br /> more in 1993. OVerall, seniors would pay an additional $76.82 over the <br /> 2 year period using the two step process as compared to $54.67 using the <br /> one step method. <br /> Residential custcnners under Option C would pay an additional <br /> $10.93/quarter or $32.79 for three quarters during 1992 and also another <br /> $6.32/quarter or $25.28 per year more in 1993. OVerall, residential <br /> customers would pay an additional $153.54 over the 2 year period using <br /> the two step process as compared to $109.34 using the one step method. <br /> Non-residential custcnners under Option C would pay an additional <br /> $.59/1000 gallons in 1992 and another $.34/1000 gallons in 1993. <br /> OVerall, non-residential customers would pay an additional $1.52/1000 <br /> gallons during the 2 year period using the two step process as compared <br /> to $.84/1000 gallons using the one step process. <br /> Under Option C, the sewer fund would not experience a cash deficit at <br /> all in 1992. Instead, there would actually be a cash surplus of <br /> approximately $6,000. This would bring the cash equivalents balance to <br /> . approximately $406,000 using this option. <br /> I reccnnmend Council increase sewer rates by 50 percent beginning April <br /> 1, 1992, in a lllIlp sum increase. However, the sewer fund has a larger <br /> cash equivalents balance than the water fund. This larger balance would <br /> allow Council to choose to inplement rates in a two step process if they <br /> wish to do so. <br /> Due to the large increases proposed for both water and sewer rates, <br /> Council may wish to hold public informational meetings. It is my <br /> understanding after checking with Deputy Clerk, Catherine Iago, and <br /> former Clerk/Administrator, Charlotte McNiesch, that public <br /> informational meetings have not been held in prior years when utility <br /> rate increases were inplemented; however, both parties indicated a <br /> public meeting may be wa=anted. If Council chooses to hold public <br /> meetings, the meetings should be corrpleted before April 1, 1992. <br /> TJS/ts <br /> Attachments <br /> M92-82 <br /> . <br />