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HomeMy WebLinkAbout32. 19-380 JUNE 25, 2019 19-380 RESOLUTION (CARRIED 7-0 LOST LAID OVER WITHDRAWN ) PURPOSE: AUTHORIZE STAFF TO COMPLETE AND FILE A WATER RATE INCREASE APPLICATION WITH THE PUBLIC SERVICE COMMISSION OF WISCONSIN INITIATED BY: CITY ADMINISTRATION BE IT RESOLVED that the proper City Officials are authorized and directed to complete a water rate increase application, as prescribed by the Public Service Commission of Wisconsin, and submit such application to the same. 3F " { Oshkosh TO: Honorable Mayor and Members of the Common Council FROM: Trena Larson, Finance Director DATE: June 20, 2019 RE: File water rate increase with Public Service Commission (PSC) of Wisconsin BACKGROUND Per the direction of the Common Council, staff has been directed to annually evaluate our utility rates to ensure we have systematic planning and control within the existing rates structures. It is imperative the Water Utility begins the application process immediately, as the process is complex and requires a comprehensive review by the PSC. It is anticipated that the Water Utility will need a rate increase to ensure adequate funding for daily operations and to maintain existing and new infrastructure. In addition, the Water Utility has several mandates and requirements to maintain compliance with multiple State and Federal agencies, and to ensure the safety and reliability of this service. Finally, rates will be periodically reviewed to ensure compliance with debt coverage and existing debt covenants. Staff requests authorization to complete and file a water rate increase application with the Public Service Commission of Wisconsin (PSC). The PSC regulates all water utilities in Wisconsin. ANALYSIS The cash flow analysis presented at the 2018 Budget Workshop on October 29, 2018, showed a need for an approximate 11% increase. The projected increase is anticipated to be needed due to the following reasons: • Large Capital Improvement Programs in 2016 and beyond with regard to water infrastructure projects • Additional Revenue to cover debt payments (i.e. Debt Coverage) • Decrease in usage from 2013 to the present • Increase in expenses from 2013 to the present Finance Department City Hall,215 Church Avenue P.O.Box 1130 Oshkosh,WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us For the Calendar year 2019 there is not a planned water rate increase, as it is anticipated the proposed application will take approximately six to twelve months to process through the PSC's extensive review and analysis. FISCAL IMPACT At the 2019 CIP Budget workshop in October the 10 year Cash Flow Analysis estimated an 11% rate increase would be needed in the Water Utility. It is estimated this proposed increase would raise approximately $1,763,157 in revenue. The impact on an average residential account would be $12.03 annually. RECOMMENDATION Staff recommends that Council pass this resolution. Respectfully Submitted, Approved: ?teed 4ao �� r Trena Larson Mark Rohloff Finance Director City Manager Finance Department City Hall,215 Church Avenue P.O.Box 1130 Oshkosh,WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us [[Wj OM V (h0 U N O V V O(0 M O N M M VO. [Z O O N (O(V O O (n N O 0)(0(0 N O .Q O(`! d) O O N 06 h 0 N O (O N 2 N V' M O M N O (0 O N V'M O (0 V'M O �y O ��Fg N N N M V'O O M Cl)Cl)(0 N M b4 U � � �d3 N MN- 409� EA V! 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