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SFPUC reviews 10‑year financial plan and adopts 10‑year capital plan; higher outer‑year rate projections flagged
Summary
Commissioners held a public hearing on the SFPUC's 10‑year financial plan (FY2016–2025) and adopted the 10‑year capital plan. Staff said reduced water sales create about $150 million of pressure over 10 years and that wholesale rates for next year could rise about 31% to make up a roughly $25 million shortfall from the current year.
Deputy CFO Charles Pearl presented the SFPUC's 10‑year financial plan for fiscal 2016–2025 and explained changes since last year, emphasizing the revenue impact of reduced retail and wholesale water sales. "That has impacted the 10‑year plan by about $150,000,000 over 10 years," he said, and noted that the refunding action just approved will offset roughly one‑third of those lower sales in the near term.
Pearl told the commission that wholesale rate projections for the coming year increased from an earlier projection of about…
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