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The debt will be fully paid off in 2036, but fixed costs will still exceed $600,000 per year. <br /> <br />The flat fee revenue included in the 2024 budget totals $302,220. The flat fee proposed for the 2025 budget totals <br />$499,320. <br /> <br />The City also has a rate for Service Line Repair Insurance. The cost for service line repairs has more than doubled <br />over the past few years from $90,000 in 2021 to $194,000 in 2023. It is not anticipated that these costs will go <br />down any time soon. The proposed rate will increase the annual revenue from $110,880 to $160,160. <br /> <br />Staff is proposing an increase in the flat fee for 2025, from $23.00 per quarter to $38.00 per quarter ($13,140 <br />revenue per year for every $1 increase). Staff is also proposing an increase in the Service Line Repair Insurance <br />fee from $9.00 per quarter to $13.00 per quarter ($12,320 revenue per year for every $1 increase). No increase <br />to the usage rates is being proposed except to bring the two higher tiers of the commercial rates more in line with <br />where they should be. These only affect commercial usage over 700,000 gallons per quarter. <br />The impact of the two flat fee increases on a household would be $19.00 per quarter or $76.00 per year. <br /> <br />A summary of all of the proposed utility rate increases is as follows: <br /> <br /> <br />ATTACHMENTS <br />A. Sewer Fund projections <br />B. Street Lighting Fund projections <br />C. Surface Water Management Fund projections <br />D. Water Fund projections <br />Average qtrly usage 16,000 gallons <br />2024 2025 % change <br />Water Base 23.00 38.00 23% <br />Service Line 9.00 13.00 <br />Consumption 46.76 46.76 <br />MN Test Fee 2.43 2.43 <br />Sewer Base 45.69 47.52 4% <br />Consumption 58.24 60.64 <br />Street Light 5.00 5.25 5% <br />Surface Water 17.00 20.00 18% <br />TOTAL 207.12 233.60 13% <br />26.48$ Quarterly increase <br />105.92$ Annual increase