Mountain Home Waterworks

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K: DFDRATESCapital Improve Charge FAQ 2014.Docx Why is there is a $52.50 rate on my quarterly water bill? In March of 2014 the Board of Selectmen held a public listening to and voted to increase the Capital Improvement Charge from $26.00 consistent with 12 months for water clients to $210.00 consistent with yr ($52.50 per area), and to start charging seniors at a charge of $30.00 in line with year ($7.50 in step with clients) . Why can we want a Capital Improvement Charge? The Town’s water gadget has usual age-related problems. Water billing revenue covers the price to function and perform habitual preservation at the water device. Our prices have no longer been set to generate the wished more revenue for capital initiatives. Why $210 a yr? This rate will generate approximately a million dollars a year to start a practical Capital Improvement Plan. We have developed an alternative tasks identified that general $30 Million. The budget generated by using the price will allow us to start tackling the tasks on this listing. Why not simply add the fee to the billing price? It could have been executed. It becomes mentioned considerably with the Selectmen at some point in the rate-setting hearings. The Selectmen felt a separate Capital Improvement Charge is better than a utilization related billing price change for several reasons, now not the least of which is the separate flat fee is the easiest manner to waive the fee for discounted customers. There is also the desire that in the future we can trap up with our capital mission wishes. The listing of needed initiatives will be wiped clean up and we will do not forget decreasing this fee. This is not something that is probably to manifest soon; the Capital Plan is a 20 12 months plan. Are the budget earmarked for water device enhancements? The funds are as earmarked as any town accrued price range can be. Per nation legal guidelines a city meeting can vote using any accrued finances for any city mission or price; however, the Selectmen and Finance Office is running to establish a separate account for Water Capital Improvements. The finances amassed from this price may be voted to a selected venture at a Town assembly, generally in October. The DPW will gift advocated water capital prices to the Selectmen, Capital Improvement Committee, and Finance Committee. If the expenditure is usually recommended utilizing these forums and committees it moves onto the Town Meeting warrant for a vote. Are there any grants from other places we will get to assist masking the capital costs? The only last program is the State Revolving Fund (SRF) mortgage program. We have and could follow for those loans on every occasion they make feel, in most cases for large projects. Often our superb bond score receives us quotes nearly as good as the SRF loan costs. The SRF application consists of its ton of purple tape and delivered necessities. If we can do it inexpensive it makes feel to continue without the SFR’s more burdens. As the only assist we may want to get from higher stages of government are loan applications it's far extra fee powerful for us to accumulate the funds (sales from the capital charge) and pay cash for venture production. This permits us to finish venture without incurring additional debt fees..