Water & Wastewater Rate Study
Currently, Mr. McClung and Mr. Parker are developing a water and wastewater rate study for the City. The City currently bills some of its customers quarterly while others are being billed monthly. The City is in the process of shifting all the quarterly billed customers to monthly billing. As part of this study, UAN will be determining the impact on system revenues of this billing conversion over a five-year projection period. The City has indicated that no changes to the water and sewer rates structures are being considered as part of the rate study. The billing conversion is expected to be completed by the end of fiscal year 2009. The City is also in the process of issuing approximately $80 million in Series 2009 revenue bonds. UAN has been retained by the City to develop financial projections for its water and sewer system which will accompany an Agreed Upon Procedures Letter in support of this revenue bond issue. During fiscal year 2007, Mr. McClung developed projections and an Agreed Upon Procedures Letter in support of its Series 2007 Bonds.