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Corydon schedules finance committee review of water-rate scenarios; first reading expected
Summary
City Clerk Stacy Gibbs told the council the water fund is underfunded and presented multiple rate scenarios; the finance committee will review options the week of Oct. 14 and the council plans a first reading of an ordinance amendment that could take effect Jan. 1, 2025.
City Clerk Stacy Gibbs presented water-rate scenarios at the Oct. 9 Corydon City Council meeting and told councilors that the water fund cannot cover identified projects and rising operating costs. Gibbs said the city has not increased water rates in seven years and proposed several scenarios for council consideration.
The finance committee will meet the week of Oct. 14 to review the scenarios; Gibbs said she will send the scenarios to council members. The minutes record that the council will have the first reading of an ordinance amendment for a water-rate increase effective Jan. 1, 2025, if the committee advances a proposal.
Why it matters: a water-rate increase would affect residential and commercial customers who rely on city water, and the revenue would fund critical water projects previously identified by staff.
No specific rate schedule was adopted at the Oct. 9 meeting; the council asked the finance committee to evaluate options and return with a proposal for the council to consider.
