|
Dear Customer,
The Town has recently completed the
annual review of the water and sewer enterprise
accounts. The
Town’s management and financial departments have been
working with financial consultant, the Abrahams Group,
for several years to establish stability in these
accounts. As
a result of this year’s review, a water and sewer rate
increase is required to balance the fiscal year 08
budget.
The sewer rates will increase 30%
for fiscal ‘08 effective July 1, 2007.
As you may know, the sewer enterprise fund has
been plagued by unfunded debt from the original sewer
construction phases.
The Town instituted a program to address this
issue over the last several years
and we now expect future rate increase should be
minimal as this debt is retired, future betterments
receipts are in line with actual costs and completion of
Phase VI allows spreading the costs over a larger
customer base. During
these times the Sewer Department has worked hard to keep
its operational costs at a minimum.
The water rates will increase by
5.5% for fiscal ‘08 effective July 1, 2007.
The minimum charge remains the same as last year.
Projection of the water enterprise account’s
operational and capital expenses over the next few years
indicates only minimal increases may be needed in the
future.
The recently elected DPW Board has
committed to beginning the annual review process earlier
in fiscal year 09 and appreciates your understanding
during these difficult financial times.
Respectfully,
Daniel McIntyre, Chairman
Department of Public Works
|
