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15 <br /> THE CITY OF <br /> CITY COUNCIL AGENDA REPORT <br /> PLEASANTON <br /> April 18, 2023 <br /> Operations Services <br /> Finance <br /> TITLE: APPROVE FOURTH AMENDMENT TO AGREEMENT WITH RAFTELIS <br /> FINANCIAL CONSULTANTS, INC., FOR AN INCREASE OF $46,150 <br /> FOR A TOTAL NOT TO EXCEED AMOUNT OF $259,550 FOR WATER <br /> RATE CONSULTING SERVICES <br /> SUMMARY <br /> The City Council initially awarded a professional services contract to Raftelis in 2019 and <br /> subsequently approved three amendments to the agreement. Since then, water rates have <br /> not been increased over the past three years; however, water sales have continued to <br /> decline due to mandatory 15 percent conservation, and the projected fund balance for <br /> the water enterprise fund is below City Council approved reserve levels necessitating <br /> a review and evaluation of water rate models. The proposed fourth amendment will <br /> include updating the rate models, and preparing a water rate study. This will extend <br /> the term of the agreement with Raftelis through December 31, 2023, and will increase <br /> the total contract by $46,150. <br /> RECOMMENDATION <br /> Approve and authorize the City Manager to amend the City's contract with Raftelis, <br /> Inc. by an increase of $46,150, to an amount not to exceed $259,550, to include <br /> updating the water rate models, preparing a water rate study. This amendment will <br /> extend the term of the agreement through December 31 , 2023. <br /> FINANCIAL STATEMENT <br /> The Water and Sewer Funds' FY 2023/24 and FY 2024/25 proposed budgets <br /> include sufficient funds to cover the increased $46,150 in contractcosts. <br /> Page 1 of 3 <br />