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A-2. Utility Rate Study, Ehlers & Associates4 Attached is the entire rate study, as well as the executive summary, prepared by CITY OF Ehlers & Associates. Jessica Cook from Ehlers will be resent to review the stud P y Phone: 952.227.1130 MEMORANDUM CHMNSEN the key areas of the study. Public Works TO: Mayor and City Council 7700 Market Boulevard council will consider an amendment to the fee ordinance, which will incorporate PO Box 147 FROM: Greg Sticha, Finance Director Chanhassen, MN 55317 Senior Center DATE: November 10, 2014 Administration Phone: 952.227.1100 SUBJ: Utility Rate Study Fax: 952.227.1110 Building Inspections BACKGROUND Phone: 952.227.1180 Fax: 952.227.1190 Ehlers & Associates, the city's financial advisors, annually studies the current utility fees and future projects to determine if the rates are appropriate for planned Engineering expansions; reconstruction; and maintenance of the water, sanitary sewer, and storm Phone: 952.227.1160 water systems. This evening, the rate study and related changes planned for 2015 Fax: 952.227.1170 will be discussed. Finance Phone: 952.227.1140 There is only one proposed change to the 2015 rates as compared to the 2014 rate Fax: 952.227.1110 study. The increase in the Metropolitan Council's payment for treating our sanitary sewer increased by $128,600 (8.8 %) to $1,579,600. The increase is not only due to Park & Recreation increased costs in their operations, but also to increased flows from the previous Phone: 952.227.1120 year. Therefore, Ehlers and staff is recommending increasing the sanitary sewer Fax: 952.227.1110 operation user charge to 4% in 2015 and years going forward to accommodate this Recreation Center increase and potential increases in the future (up from 3 %). As in previous years, if 2310 Coulter Boulevard treatment fees decrease from the Metropolitan Council, staff will be recommending Phone: 952.227.1400 decreasing the proposed sanitary sewer operation user charge. Fax: 952.227.1404 Website www.ci.chanhassen.mn.us fAgregs\rate study\2014 utility study memo 11- 10- 14.doex Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow Attached is the entire rate study, as well as the executive summary, prepared by Planning & Natural Resources Ehlers & Associates. Jessica Cook from Ehlers will be resent to review the stud P y Phone: 952.227.1130 and answer any questions. Ms. Cook will present a brief PowerPoint that highlights Fax: 952.227.1110 the key areas of the study. Public Works No action is needed on this item at tonight's meeting. On December 8th, the city 7901 Park Place council will consider an amendment to the fee ordinance, which will incorporate Phone: 952.227.1300 any changes discussed at tonight's meeting and future meetings. Fax: 952.227.1310 Senior Center ATTACHMENTS Phone: 952.227.1125 Fax: 952.227.1110 1. Rate Study Executive Summary and Detailed Information Website www.ci.chanhassen.mn.us fAgregs\rate study\2014 utility study memo 11- 10- 14.doex Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow f r' r� mwi- ehlers- inc.con EH LE R Minnesota phone 651 -697 -M 3060 Centre PoinleDrive LEADERS Nl PUBEK FINANCE Offices also in Wisconsin and lntnois fax 651.697- 85555 ; Rosevll.s, MN 5511;3 -1122 toll free 8W- 552 - 1171 Key Findings Ehlers has worked with City staff to update the annual Utility Rate Analysis. The rate recommendations this year are below. 1. Proposed user rate increases for 2015 are: • Water (Tiers 1 -5) — 3% (consistent with last year's analysis) • Sanitary Sewer — 4% (as compared to 3% in last year's analysis) • Storm Water — 4% (consistent with last year's analysis) 2. The water and sewer funds are benefitting from development that is occurring and is expected to occur over the next ten years. The proposed annual connection and platting fee increases for 2015 and beyond are consistent with last year's rate study: • Water Hook -Up— 3.75% (consistent with last year's analysis) • Sanitary Sewer Hook -Up — 2% (consistent with last year's analysis) • Storm Water Quality — 5.5% (before credit is applied) • Storm Water Quantity — 5.5% (consistent with last year's analysis) 3. Rate increases less than those recommended above will weaken the cash positions of the utility funds and may attract questions from Standard and Poor's. The City currently benefits from the AAA rating it has earned from Standard and Poor's. Rating agencies pay attention to enterprise fund activities for cities, and Standard and Poor's rating methodology looks at whether enterprise funds will put financial burdens on the general fund due to structural imbalances (i.e., insufficient utility revenue). Methodology The City accounts for both operations and expansion of each utility in one fund. For the water and sanitary sewer utilities, we have split these functions into an "Operating Fund" and a "Trunk Fund" for the purposes of this study. The Operating Funds include all operating revenues (user rates and charges) and the costs to operate, maintain, and replace the system. It includes annual street reconstruction projects and repair of existing infrastructure. The Trunk Fund receives the hook -up charges and spends them on expansion of the system, including wells, water storage facilities, and lift stations. Growth How quickly the City grows will impact the utility fees collected, hook -up revenues, and area charges. The City has estimated the number of new residential and commercial properties that will be constructed, as shown in the following chart. The growth estimates assume that the Lower Bluff Creek area will develop with the extension of sewer and water to it. Growth Assumptions Year Number of Residential Units 2015 130 2016-2019 170 2019 -2025 209 Water System Water Capital Improvements and Bonding The capital improvement plans for the water operating and trunk funds are attached in Exhibit A, which begins on page 11 of this report. Major capital improvements include: • Painting the Lake Lucy Water Storage Stand and Pipes • Replacing water mains under street reconstruction projects • Oversizing costs to extend water main along TH101 and to the Lower Bluff Creek area • New wells in 2015, 2019, 2021, and 2025 • Elevated Storage Tank in 2020 • Painting of the Watertower Place in 2019 • Water Treatment Phase II in 2023. The treatment plant is estimated to cost $25 million in 2023. The rate study anticipates the need to bond for a portion of the improvements listed above. The need to issue bonds depends upon many factors, and the City should annually review whether it has sufficient cash to pay for capital improvements prior to issuing debt. Water Rates The 2015 increase to the water rate is 3.00 %. Future annual increases are also projected to be 3% per year through 2021. The water treatment plant planned for 2023 will put new financial pressures on the water fund. It is assumed that the water treatment plant will be funded 50% from the Water Operating Fund (water rates), and 50% from the Water Trunk Fund (hook -up fees.) In 2022 and beyond water user rates will need to increase 4% annually to help pay for the treatment plant. Over the next five years, the proposed rates shown on the following chart are necessary to meet future operating, capital and debt costs. Proposed Water Rates % Rate Increase 3.00% 3.00% 3.00% 3.00% 3.00% Tier 1 $1.07 $1.10 $1.14 $1.17 $1.21 0 -6,000 gallons % Rate Increase 3.00% 3.00% 3.00% 3.00% 3.00% Tier 2 $2.14 $2.21 $2.27 $2.34 $2.41 6,001- 24,000 gallons % Rate Increase 3.00 % 3.00% 3.00% 3.00% 3.00% Tier 3 $2.67 $2.75 $2.83 $2.92 $3.00 24,001 - 48,000 gallons % Rate Increase 3.00% 3.00% 3.00% 3.00% 3.00% Tier 4 $3.10 $3.19 $3.29 $3.38 $3.49 48,001- 99,000 gallons % Rate Increase 3.00% 3.00% 3.00% 3.00% 3.00% Tier 5 $3.94 $4.06 $4.18 $4.31 $4.44 Over 99,000 gallons Different types of water customers are currently billed at different tiers: • Single family residential customers are billed using all five tiers. • Multifamily properties pay a flat rate per thousand gallons. The proposed multifamily rate for 2015 is $2.21 per gallon. • Commercial customers are billed using Tiers I through 4 only. • Irrigation meters are billed using all five tiers. In addition to the usage charges above, the City of Chanhassen collects a fixed quarterly charge of $7.74 for the water utility. In 2015, the fixed quarterly charge is proposed to increase 3.0% to $7.97. Target Cash Reserves for the Water Funds The cash balance of a fund is a measure of its financial health and allows the City to respond to unexpected events without imposing sudden rate increases. The cash reserve target for the Water Operating Fund is equal to six months' worth of operating costs plus 15% of accumulated depreciation. The following graph shows the projected cash balances as measured against target cash reserves. Cash reserves have dropped the last two years, in part, because we have had regular rainfall and residents and businesses are using less water for irrigation. The City also used cash in 2014 to retire debt early, saving future interest expense. 4 Water Fund Operating Ending Cash Balance 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2, 000, 000 1,000,000 0 N1 ■ Total Target Reserves o Ending Cash Balance Water Hook -up Fees Hook -up fees are an important source of revenue needed to expand the water system and pay for the second treatment plant. We are recommending that water hook -up and platting fees increase 3.75% in 2014 and annually thereafter, consistent with the prior year's report. The following graph shows the anticipated cash balance in the trunk portion of the fund. 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 Water Trunk Fund Cash Balances 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 Sanitary Sewer System Sanitary Sewer Capital Improvements The capital improvement plans for the sanitary sewer funds are attached in Exhibit A, which begins on page 11 of this report. Major capital improvements include: • A vactor /sewer jetting truck in 2015 • Replacing sewer mains under street reconstruction projects • North Part Sub - District LB -5 Trunk Lift Station in 2016 • Oversizing costs to extend sewer main along TH101 and to the Lower Bluff Creek area • Sub - District LB -1 Lift Station in 2020 • $200,000 per year in 2016 through 2019 to address inflow and infiltrations, and $100,000 per year thereafter Sanitary Sewer Rates The single biggest expense in the Sewer Operating Fund is the disposal fee charged by the Metropolitan Council Environmental Services (MCES). The chart below shows the last five years of MCES charges plus the expected cost in 2015. Early in the decade the MCES charges were increasing rapidly, and the City was expecting to have to increase its sewer rates accordingly. Our rate study from 2011, for example, project 6% and 7% annual rate increases. Fortunately, the MCES cost increases moderated, and even declined, allowing the City to maintain sewer rate increases at 3% for the last several years. However, MCES has informed the City that 2015 charges are going up almost 9 %, necessitating a 4% user fee increase in 2015. We have assumed future MCES charges will increase, on average, 5% annually; necessitating a 4% annual increase to the City's sewer rates in 2016 and thereafter. The proposed sewer rates are shown in the following chart. The fixed quarterly fee of $21.26, which includes up to 6,000 gallons of sewer discharge, is also projected to increase 4% in 2015 to $22.13. 6 2010 $ 1,386,052 5.66% 2011 $ 1,519,879 9.7% 2012 $ 1,506,629 -0.9% 2013 $ 1,398,891 -7.2% 2014 $ 1,451,000 3.7% 2015 $ 1,579,600 1 8.9% Early in the decade the MCES charges were increasing rapidly, and the City was expecting to have to increase its sewer rates accordingly. Our rate study from 2011, for example, project 6% and 7% annual rate increases. Fortunately, the MCES cost increases moderated, and even declined, allowing the City to maintain sewer rate increases at 3% for the last several years. However, MCES has informed the City that 2015 charges are going up almost 9 %, necessitating a 4% user fee increase in 2015. We have assumed future MCES charges will increase, on average, 5% annually; necessitating a 4% annual increase to the City's sewer rates in 2016 and thereafter. The proposed sewer rates are shown in the following chart. The fixed quarterly fee of $21.26, which includes up to 6,000 gallons of sewer discharge, is also projected to increase 4% in 2015 to $22.13. 6 Quarterly Sewer Rates % Rate Increase 3.00% 3.00% 4.00% 4.00% 4.00% 4.00% Fixed Fee $20.64 $21.27 $22.13 $23.01 $23.93 $24.8 % Rate Increase 3.00% 3.00% 4.00% 4.00% 4.00% 4.00% Usage Fee $4.01 $4.13 $4.31 $4.47 $4.64 $4.82 Target Cash Reserves — Sanitary Sewer Funds Adequate cash reserves are needed to accommodate cash flow needs, fund emergency repairs, and save for larger future capital projects. The projected cash balance for the Sanitary Sewer Operating Fund, as compared to the target cash reserve, is shown in the following graph. The target cash reserve equals nine months of operating expenses. Sewer Operating Fund Ending Cash Balance 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 oN O ^� O ^0 O,\'� ti ti ti ti ti ti ti... ti ti ti ti ti. ti ti 7Target Reserves (9 mos. operating expense) ■Ending Cash Balance Sanitary Sewer Hook -up Fees Hook -up and platting fees are an important source of revenue needed to expand the sanitary sewer system. We are recommending that sanitary sewer connection and platting fees increase 2% in 2015 and annually thereafter, consistent with last year's study. 7 The sewer trunk fund is expected to have adequate cash to pay for the capital costs of expanding Chanhassen's sanitary sewer system. The graph that follows shows the projected ending trunk fund cash balance. Sewer Trunk Fund Cash Balance $4,500,000 - - - - -- $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2012 2013 2014 2015 2016 20172018 2019 2020 2021 2022 2023 2024 2025 Storm Water Fund There is a 4% rate increase proposed for the quarterly storm water fee for 2015. This is consistent with last year's rate study. Quarterly Bill - Single Family Home 2014 2015 2016 2017 2018 Fixed quarterly fee 9.69 10.08 10.48 10.90 11.34 Annual charge 38.77 40.32 41.94 43.61 45.36 Annual Increase 4% 4% 4% 4% 4% Quarters Bill - Single Family Home 2014 2015 2016 2017 2018 Fixed quarterly fee 9.69 10.08 10.48 10.90 11.34 Annual charge 38.77 40.32 41.94 43.61 45.36 Annual Increase 4% 4% 4% 4% 4% The proposed rates will be adequate to meet on -going storm water expenditures, which include pond maintenance, street reconstruction projects, implementing the surface water management plan, and acquiring land for future storm water retention. 8 Another important revenue source for the Storm Water Fund is the area charges collected when land is platted. The area charges have two components: water quality and water quantity. Both of these charges are expected to increase 5.5% per year in 2015 and thereafter, consistent with last year's analysis. Developers who do on -site water quality or quantity improvements, such as culverts and retention ponds, receive a credit on their fees. The projected cash balance in the storm water fund is shown in the following graph. The target cash reserve is a base of $1 million dollars inflated over time, in order to provide sufficient funds for future capital needs. We expect capital needs will grow as the state develops more regulatory requirements relating to storm water run -off. 3, 000,000 2,500,000 2,000,000 1,500,000 1,000,000 Storm Water Fund Ending Cash Balance 2012 2013 Putting It All Together: The Utility Bill The chart on the following page shows a utility bill for a sample of residential customers who use varying amounts of water. Proposed hook -up fees for a single family home are also shown. 9 Sample Water. Sewer and Storm Sewer Bills 10 Actual Proposed 2014 2015 2016 2017 2018 Average Quarterly Residential Bill 26,000 gallons water and 26,000 gallons sewer Water 58.03 59.83 61.62 63.47 65.37 Sewer 103.88 108.24 112.37 116.66 121.33 Storm 9.69 10.08 10.48 10.90 11.34 $171.6 $178.1 $184.4 $191.0 $198.0 Total 1 5 7 4 4 Percent Increase from prior year 3.1% 3.8% 3.6% 3.6% 3.7% Amount Increase from prior year $5.08 $6.54 $6.33 $6.56 $7.01 Sample Bill for Lower Water User 11,000 gallons water and 8,000 gallons sewer Water 24.89 25.63 26.40 27.19 28.01 Sewer 29.54 30.74 31.95 33.20 34.53 Storm 9.69 10.08 10.48 10.90 11.34 Total $64.11 $66.45 $68.83 $71.30 $73.88 Percent Increase from prior year 3.2% 3.6% 3.6% 3.6% 3.6% Amount Increase from prior year $2.00 $2.34 $2.38 $2.47 $2.58 Sample Bill for Hiqher Water User 255,000 gallons water and 26,000 gallons sewer 1,001.8 Water 889.51 916.82 944.32 972.65 3 Sewer 103.88 108.24 112.37 116.66 121.33 Storm 9.69 10.08 10.48 10.90 11.34 $1,003. $1,035. $1,067. $1,100. $1,134. Total 09 14 17 22 50 Percent Increase from prior year 3.0% 3.2% 3.1% 3.1% 3.1% Amount Increase from prior year 1 $28.76 $32.05 1 $32.04 1 $33.04 1 $34.28 Hook -up Fees Per Unit Total City Sewer Hook -up Fees 2,213 2,258 2,303 2,349 2,396 Total City Water Hook -up Fees 6,287 6,523 6,767 7,021 7,284 Total 8,500 8,780 9,070 9,370 9,680 Percent Increase 3.3 % 3.3% 3.3% 3.3% 3.3% 10 CghNt Q — Prro�ecUons and Capital Improvement Plans W ater W/1 ater Open °aftg Fund prrojecdon Water Trunk Fund Prrojec con Water Capotal lmprovement Plan Sanitary Sewer OperrsUng Fund prrojeeUon Sanftrry Trunk Fund Projeetlon Sanitaary Sewers Capital Improvement Plan Storm Wa�err vioth CapRal Improvements 11 O LL fu t N v C d O. 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