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<br /> Page | 1 <br />1. Project Background, Objectives and Scope <br />Baker Tilly was hired to review and analyze the City of St. Paul’s/St. Paul Regional Water Service (SPRWS) Water Fund to determine the appropriate rate structures and other revenue sources needed for operations and the financing of capital improvements. The rate structure and other revenue in the Water Fund must provide sufficient revenue to cover anticipated operating and maintenance expenses, debt service including principal and interest, capital improvements and replacements, and to maintain adequate cash reserves. The total revenue collected should reflect not only recent cost experience but should recognize anticipated future costs during the period for which rates are being established. Our scope included a cost-of-services analysis for wholesale customers to determine the revenue requirements that should come from. The purpose of this report is to present the cost of services analysis.