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Budget officer flags two large water-fund balloon payments; staff to propose reserve options
Summary
Alex Campbell told the Talent Budget Committee that the city—s water fund faces two roughly $1 million balloon payments in 2030 and 2035, that Medford Water Commission bulk rates and lost BRIC grant funding affect costs, and that staff will bring options to create a debt reserve or capital line item.
Budget officer Alex Campbell told the Budget Committee that the water fund faces two mid-term balloon payments of about $1,000,000 each in 2030 and 2035 and that the city currently does not have a reserve adequate to cover those payments.
Campbell said the Medford Water Commission sets bulk-water charges that the city cannot control and that the commission—s loss of a BRIC grant will affect its capital program and potentially future wholesale rates. He also described a prior rate study that assumed…
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