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Council hears utility-rate update as staff warns of cash-flow pinch; staff aims for May 12 follow-up
Summary
City staff presented an update on a pending utility rate study, warned of cash-flow and reserve pressures tied to a large Class A water reservoir project and delayed bonding, and said an interim report will be circulated with a goal of returning to council on May 12.
City staff told the Snoqualmie City Council on April 28 that the city’s utility finances face near-term cash-flow pressure and that a pending rate-study ordinance and a high-cost water-reservoir project make timing for revenue measures important.
Dylan Gamble, the city’s CIP manager, presented the update and said an appraisal and rate-modeling process is nearly complete with consultant FCS Group; staff expects an interim report in the coming week and will aim to present materials to council on May 12 so the council can consider adopting rates on a near-term schedule.
Gamble told the council that the Class A water reservoir project had come in about $400,000 over initial estimates and that construction…
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