Financial Participation Charges Update
|Category:||Action/Info Item||Meeting Workflows:||Board Admin Committee Workflow|
The District adopted a Triennial Strategic Plan for 2019 – 2021 with seven strategic priorities, including fiscal responsibility and appropriate investments. The District’s goal is to ensure financial stability and demonstrate responsible stewardship of public funds. One of the District’s initiatives to meet this goal is to evaluate fees, rates, and charges to ensure that each customer class pays its proportionate fair share, while generating adequate revenues to meet the District’s financial obligations.
Financial Participation Charges (FPC), also known as connection fees, are collected to pay for planned and existing water and wastewater facilities. These charges ensure that everyone pays a fair share of the District’s capital facilities. FPC’s were last studied and adopted by the Board in 2011. Staff is initiating a new study to evaluate the revenue requirements and cost allocation for the District system capacities in order to recommend adjustments to the current FPC. Staff prepared a presentation which includes an overview and a recommended timeline of the planned study and seek input and feedback from the Board Administrative Committee.
This item is informational only.
|RESULT:||REVIEWED AT COMMITTEE|