Base flood elevation corvallis update#

This information, along with a history of rates in Corvallis for the last ten years, is provided to the City Council to aid them in their review. Next, we ask local communities of a similar size for their utility rates to test the proposed Corvallis average monthly residential utility bill against other municipalities. Staff-recommended utility rates are developed from this review. The financial plans are an instrument to test 'what if' scenarios, adjusting expenditures and/or revenues to maintain the balance between rates and expected service levels and ensure the fund’s viability through the planning window. Working with the Finance Department, we identify fluctuations to non-operating costs, like debt service or equipment reserves.

Base flood elevation corvallis update#

Projects resulting from this review or from the update to the Capital Improvement Program are prioritized and scheduled for an appropriate year. This provides a blueprint for any additions or changes to basic services needed in the upcoming years to meet the system demands. In September, we review and update the financial plans for the department, including those for the utility funds. This is because 90% of the activity in the utility funds is managed by Public Works. The Public Works Department takes the lead for the organization in the rate review process. The franchise fee will be equal to 5% of the utility’s gross Pay a franchise fee to the City’s General Fund to compensate for the use of the

Franchise Fees - The City’s Water, Wastewater, and Storm Water utilities will Rate Adoption - Utility rates will be adopted by resolution.ĭ. With the burden utility fees can place on the community.Ĭ. Rate increases will be targeted for implementation in February.Ĭouncil will balance the need for sound management of the City’s infrastructure Annual Rate Review - Staff shall conduct an annual comprehensive rate reviewĮach fall for the Water, Wastewater and Storm Water funds for Council reviewĪnd adoption. Revenues of each utility are at least equal to its operating expenditures, reserves,ĭebt coverage and annual debt service obligations, and planned replacement ofī. Utility Fee Basis - Utility user charges for each of the three City utilities will beīased on the total cost of providing the service (i.e., set to fully support the totalĭirect, indirect, and capital costs) and are established so that the operating

UTILITY FEES (WATER, WASTEWATER, STORM WATER)Ī. Most recently, in December 2016, the City Council updated the associated Financial Policy to require Council to balance the need for sound management of the City’s infrastructure with the burden utility fees can place on the community. The City Council adopted a strategy in 1995 to combine the three utilities when reviewing increase proposals. In addition, all three utilities are responding to evolving federal and state regulations, and to the needs of an expanding infrastructure system due to growth in the community. Costs in the utility fields historically increase at greater than inflationary rates. Utility funds are not supported by property taxes revenue is generated from user fees.Įach year the rate schedule is reviewed to determine if adjustments are needed to maintain the utility fund’s viability. In addition to staff time, equipment maintenance, and materials and supplies needed to provide the direct services of each utility, other costs, such as debt service payments and funding for capital improvements, must also be recovered through the rates. That means the Water, Wastewater, and Storm Water utilities must generate enough revenue through user fees to cover all the costs of operating the 'business'. The City operates its three utilities just like a business.