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Consultants recommend 15.5% water and wastewater increases to fund capital plan
Summary
Financial consultant Henry Thomas told the City of Apopka budget workshop that current water and wastewater rates will not sustain an $188 million capital program and recommended a 15.5% rate increase in the first two years, followed by smaller annual increases to meet reserve and debt-coverage targets.
At a City of Apopka budget workshop, Henry Thomas, senior vice president and financial consultant, presented a rate study recommending a front-loaded increase in water and wastewater user rates to fund a large capital improvement plan and rebuild operating reserves. Thomas said the consultant team would provide two of three final reports after the workshop and that the third would follow before any adoption hearing. The study recommends raising rates 15.5% in 2026 and 2027 and then moving to smaller annual increases (about 3.5% thereafter) to achieve targeted financial metrics. Thomas said the goal is to reach operating reserves near the consultant target and to meet debt-service coverage requirements for assumed…
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