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Utility directors warn of multimillion-dollar reserve shortfalls; Florida Rural Water recommends rate increases
Summary
Utility staff told the council that water and wastewater enterprise funds are below policy reserves and that a Florida Rural Water Association rate study recommends a 22% increase for water and 5% for wastewater; staff also raised a major pipe-bursting project overrun and aging infrastructure concerns.
Utility staff and council discussed enterprise fund shortfalls, an external rate study and capital needs at a Lake Placid budget workshop.
Bert (last name not specified), describing utility operations and a pending rate study, said the study recommends a 22% increase for water and a 5% increase for wastewater to begin restoring reserves and funding needed maintenance. “They’re suggesting a 22% for for water, and a 5% for waste water,” Bert said, referring to the Florida Rural Water Association study staff plans to present…
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