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File #: 15-5944    Version: 1 Name:
Type: Consent Item Status: Approved
File created: 6/26/2017 In control: City Council Business Meeting
On agenda: 9/25/2017 Final action: 9/25/2017
Title: Charlotte Water Rate Model Financial Consulting Services

Title

Charlotte Water Rate Model Financial Consulting Services

 

Action

Action:

A.                     Approve a contract with Raftelis Financial Consultants, Inc. for rate model financial consulting services for an initial term of three years, and

 

B.                     Authorize the City Manager to renew the contract for up to two, one-year terms with possible price adjustments and to amend the contract consistent with the purpose for which the contract was approved.

 

Body

Staff Resource(s):

Barry Gullet, Charlotte Water

Shawn Coffman, Charlotte Water

Chad Howell, Charlotte Water

 

Explanation:

§                     Council approved the current methodology used to calculate water and sewer rates and fees in 2011.

§                     Annually, rate consultants are used to project water consumption and apply the approved methodology.

§                     The rate consultants also assist in conducting sensitivity analysis to assure a high probability that the projected rates and fees will produce the projected amount of revenue needed.

§                     On April 3, 2017, the City issued a Request for Proposals; two responses were received.  Raftelis Financial Consultants, Inc. was found to be the most qualified firm.

§                     The estimated annual expenditures under this contract are approximately $128,000.

 

Charlotte Business INClusion

No subcontracting goals were established because there are no subcontracting opportunities (Part C: Section 2.1(a) of the Charlotte Business INClusion Policy).

 

Fiscal Note

Funding:  Charlotte Water Operating Budget