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Consultant tells Danville council utilities in good cash position now but warns 2028 wastewater project will require large rate increase
Summary
Kroen & Associates adviser Tony Thompson told the Town Council that Danville's water, wastewater and stormwater utilities built reserves after recent bond work but projections show a likely large rate increase if a planned wastewater expansion proceeds in 2028.
Tony Thompson, a financial adviser with Kroen and Associates, presented Danville Town Council with the annual financial reports for the town's water, wastewater and stormwater utilities and outlined multi‑year projections and capital needs.
Thompson told the council the utilities have rebuilt cash reserves since recent capital work and the 2023 bond issuances, but he warned that a planned wastewater treatment‑plant expansion could require a large future rate increase.
Thompson said the water utility showed strong metered sales growth and more than $1 million in tap and acreage fees in 2023, which he described as “a significant source of funds for the utility to accumulate funds for the next project down the line.” He noted capital additions of nearly $9,000,000 in 2023 and said the town had roughly $3,300,000 in…
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