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In September, 2006, the city requested and received a proposal from Springsted, Inc. to <br />conduct a comprehensive utility rate study. The proposal has recently been refreshed. <br />The study would include reviewing current and background utility data, including <br />historical financial information, volumes, capital improvements, debt service <br />requirements, policies and practices, growth trends and reviewing engineering studies, <br />including the recent conservation plan and water treatment feasibility study. Springsted <br />then would evaluate the current data and consider future needs in developing a <br />comprehensive report which would recommend and justify any future rate adjustments. <br />It is necessary to undertake the study at this time to complement the conservation plan <br />and to implement rate structure recommendations and any rate adjustments in 2008. <br />Springsted would need 12 to 16 weeks to complete the study, and would then present <br />their formal report to the City Council. The cost of the study is proposed to be $27,750 <br />(unchanged from September, 2006), which would be financed equally from the water and <br />sewer funds. A copy of the proposal is attached for your review. Staff is recommending <br />engaging Springsted, Inc. to complete this study. <br />