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Staff warns of cash-flow squeeze; rate study draft due to committee in mid-May
Summary
City staff told the Parks and Public Works Committee they expect a draft of the rate-section of the utility rate study from consultant FCS Group in early May and warned that a mix of budget overruns, lower GFC collections and project acceleration may prevent the city from issuing utility revenue bonds in 2025.
City staff presented an update on the utility rate study and a series of financial pressures that could create a near-term cash-flow squeeze for water, wastewater and stormwater capital projects.
Dylan (staff member) said the consultant FCS Group is working toward a draft rate-section report and staff expects to present that draft at the next Parks and Public Works Committee meeting in mid-May and then bring it to full council. “FCS is working towards it. They should be getting us a report in early May, and I will be bringing it to the first possible parks and public works committee meeting in May,” Dylan said.
Staff identified multiple factors putting pressure on utility finances: projects coming in over budget; acceleration of several capital projects including wastewater…
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