Baker Tilly officials went over water and sewer financial information in a recent study with the Culver Town Council members this week.
The town has maintained good operating receipts since the last study done in 2013. The last time the rates were raised was in 2017.
The study contained the analysis of revenue and receipts flow, salaries, revenue bonds, capital improvements, debt service, and operation and maintenance. In the end, the net annual revenue requirements were compared with additional receipts required and it was determined that an increase was needed.
Baker Tilly proposed an $11.21 increase in the water utility bills and an $11.90 increase in the sewer utility bills.
The council members took the information under advisement.
The rates given during the meeting are recommended. The council would have the final say of what type of increase would be suitable after several factors are reviewed. Once a proposed increase is determined, a public hearing would be held to gather comments on the proposed increases and then adopt rates following the approval of an ordinance. It may be several months before that occurs.
