The City of Waterford is requesting proposals for a qualified utility rate consultant to conduct a comprehensive water rate and fee study. The study shall follow accepted industry benchmarks and best practices. The study will include recommendations to update the City’s current water utility rates. The intent of the study is to independently assess and evaluate the City’s current water rates to meet the financial needs of the City’s water enterprise fund. The proposed rate structure must adequately fund the utility’s operating and capital improvement needs. The study will be based on a comprehensive review of the City’s water enterprise funds’ historical statements of revenue and expense, current year budgets, customer counts and classes, historical usage data, planned future growth, and any other information deemed important. The rates proposed will set the rates for the next five years, with the first rate increase proposed for January 1, 2026. The rates proposed must fully meet Proposition 218 and all other legal requirements.
