Summary
To conduct a comprehensive financial analysis and rate study for the Village’s Water and Sewer Fund. The selected consultant will be expected to perform the following services: 1. Data Collection and Review; Review historical financial records, budgets, billing data, and capital improvement plans; Evaluate customer usage trends. 2. Financial Analysis - Develop a cost-of-service analysis for both the water system and the sewer systems. Identify revenue requirements to meet operating and capital needs. Evaluate adequacy of reserves. Prepare a five-year forecast of revenues, operation and maintenance
expenses and capital improvements. 3. Rate Structure Evaluation - Assess current rate structure. Evaluate system charges, volume charges, and connection fees. 4. Comparative Benchmarking Compare Village rates with neighboring and similar-sized communities
while highlighting portions of neighboring towns’ fees that are on the property tax bill and translating it to the benchmarking.
5. Recommendations Provide rate adjustment recommendations to fund estimated operating and capital expenditures for the next five years.