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Stantec Consulting completed a cost of service and rates study that will help the City of Columbia determine how much revenue the Water Utility needs to cover expenses while balancing impacts on customers.
The results of the study were presented to the City Council at the May 5 pre-Council meeting.
Studies such as these are generally conducted every five years to accommodate any changes to expenses, technology, etc. The last study was completed in 2018, with recommendations implemented in 2019. This study projected costs and necessary revenue for the next 10 years.
Stantec Consulting examined the Water Utility’s revenue sufficiency, cost of service, rate design, and customer impact.
Revenue sufficiency: How much money is needed to meet sustainable operations?
Cost of service: From whom should the money be collected?
Rate design: What is the charge that is proportional to the service provided?
Customer impact: How do we achieve fair and justifiable rates?
Stantec Consulting completed a cost of service and rates study that will help the City of Columbia determine how much revenue the Water Utility needs to cover expenses while balancing impacts on customers.
The results of the study were presented to the City Council at the May 5 pre-Council meeting.
Studies such as these are generally conducted every five years to accommodate any changes to expenses, technology, etc. The last study was completed in 2018, with recommendations implemented in 2019. This study projected costs and necessary revenue for the next 10 years.
Stantec Consulting examined the Water Utility’s revenue sufficiency, cost of service, rate design, and customer impact.
Revenue sufficiency: How much money is needed to meet sustainable operations?
Cost of service: From whom should the money be collected?
Rate design: What is the charge that is proportional to the service provided?
Customer impact: How do we achieve fair and justifiable rates?
