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18 SUPPLEMENTAL
City of Pleasanton
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CITY CLERK
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2023
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071823 SPECIAL
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18 SUPPLEMENTAL
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7/18/2023 12:35:48 PM
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7/18/2023 12:35:45 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
7/18/2023
DESTRUCT DATE
15Y
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<br /> <br /> 6 6 <br /> <br />25. What assumptions were made for the rate study? <br />Timeframe <br />• This phase 1 rate study is for three years (FY24, FY25, FY26) and <br />anticipated to go into effect November 2023 <br />• Phase 2 rate study will follow <br />• Phase 1 will focus on near term improvements to the water system, <br />ensuring the City’s water enterprise is collecting adequate fees to cover <br />the cost of operations and maintenance, delivery, and replenishing Water <br />Enterprise reserve funds. Phase 2 will focus on implementing longer term <br />projects identified in the Water System Master Plan that is expected to be <br />completed by the end of 2023. <br /> Financial position <br />• All ending fund balances are above 20% reserve level, and meet the 35% <br />of Operations and Maintenance reserve policy target in the third year (FY <br />26) <br />Financial projections <br />• All prior year actual numbers for and forecasted FY23 and FY24 are <br />provided by the Finance Department <br />• Revenue Inflation numbers per year starting in FY24: <br />o Account growth 1% <br />o Demand Growth 2.5% <br />• Expense Inflation numbers starting in FY24: <br />o Health benefits <br /> FY24 7.8% <br /> FY25 10% <br /> FY26 6% <br />o Water 6% annually <br />• Capital Improvement Program (CIP) Inflation numbers are the same as <br />those used by Finance and Engineering Departments in their planning <br />documents: <br />o FY24 12.5% <br />o FY25 12.5% <br />o FY26 10% <br />o FY27 7% <br />• Addition of insurance premiums and professional services cost starting in <br />FY24: <br />o General Liability insurance for utilities: $320,500 plus 10% inflation <br />o Professional Services: $109,500 plus 10% inflation <br /> <br />
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