Specifications include, but are not limited to: 1. Conduct a Water and Sewer Rate Study to recommend the rates to support planned capital improvements, the cost of Operation and Maintenance, reserve funding and debt service. The winning consultant will be provided 10-year Capital Improvement Plans for water and wastewater projects. Consultant will be provided historic Operation and Maintenance costs. Consultant will analyze water and wastewater utility revenues and expenditures. Analysis shall include evaluation of the financial implications of the recommended capital improvements. 2. Perform a brief analysis of borrowing verses pay-as-you go for capital improvements financing. Present analysis to staff with rate comparisons. 3. Propose a 5-year rate schedule that maintains a balanced budget structure for water and sanitary sewer operations, maintains the required coverage for debt service, and allows for the accumulation of reserves for future capital and infrastructure requirements.