Specifications include, but are not limited to: The Town of Narragansett, Rhode Island is soliciting proposals from qualified financial firms for preparation of a comprehensive rate study for the Town’s Water and Wastewater Enterprise Funds. Development of a comprehensive Water Enterprise Fund Financial Analysis that will address, at a minimum, the following components: 1. Review of applicable Rhode Island laws and regulations regarding conservation pricing and rates. 2. Review of current Veolia and Town of North Kingstown water purchase rates and impact of future rate adjustment/increases (parameters to be determined). 3. Appropriate and adequate fund balances (unrestricted net assets) to be maintained; 4. Options for budgeting for depreciation. 5. Appropriate levels of revenue to be generated from minimum, or base, charges. 6. Appropriate levels of revenue to be generated from excess usage charges. 7. Review of existing rate schedule (minimum and tiered usage). 8. Rate schedule equity and stability model options that will include a discussion of the applicability of separate rate classes for residential, commercial, and industrial customers and minimum charges, step rates, fire protection charges, cross connection charges and other related fees and charges. 9. Recommended rates and an accompanying implementation schedule that will result in the Water Fund maintaining a financial position where the unrestricted net assets will not have to be used to support the annual operating budget, and where said unrestricted net assets will result in appropriate levels for capital use and unassigned fund balance for emergency reserve.
