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Council hears options on water-sewer rates as major plant work and debt roll-off create funding window
Summary
City staff presented a range of water/sewer rate options at the Aug. 12 meeting, noting $33 million in candidate capital needs (including upgrades at the '61 plant), about $11 million in a debt sinking reserve, and that debt service obligations will decline next year, freeing roughly $5 million for capital or to reduce future rate pressure.
Wichita Falls — At the Aug. 12 special meeting, city staff outlined options for the water and sewer fund tied to capital needs, debt maturities and proposed modest rate changes.
Staff told council the water and sewer fund shows a projected balance of about $33,000,000 at the end of the fiscal year but that roughly $20,000,000 of that balance is unavailable for general use because it is reserved for plant costs, Ringgold-related items, and a debt sinking reserve. Staff said roughly $11,000,000 of the water fund is in a debt-sinking reserve that can be used to make final payments on long-term debt, which will significantly reduce next year’s debt-service obligation.
Why it matters: the council must decide whether to raise…
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