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Council reviews Waterworth forecasting tool to model rates, reserves and capital needs
Summary
A Waterworth presentation showed long-term financial forecasts for Ely’s water and sewer funds, highlighting revenue shortfalls under status quo rates and illustrating staged increases that would close projected gaps.
City officials reviewed Waterworth software’s utility-financial modeling capabilities at the Aug. 28 meeting, a demonstration intended to help Ely plan sustainable water and sewer finances.
Jacob Pahnke of Waterworth presented modeled operating and capital expense projections, debt service scenarios, an asset-replacement schedule and the Annual Cost of Sustainable Ownership (ACSO). Waterworth’s demonstration forecasted revenue requirements, showed a status-quo revenue gap and illustrated how phased rate increases (example: 10% in 2027, 5% in 2028, 3% thereafter in the model) would alter long-term cash position and reserve trajectories for both water and sewer funds.
City Treasurer Janette Trask and City Engineer B.J. Almberg participated in data preparation and asked questions about assumptions, capital projects (including Aultman Street costs) and the model’s treatment of developer contributions, grants and debt. The presentation emphasized continuous revenue management—keeping a live financial forecast to support prompt, data-driven rate decisions and to avoid emergency rate hikes.
Council did not take rate-setting action at the meeting; the presentation was informational and councilmembers directed staff to use the tool for further planning.
