|
REPORT
TO COUNCIL |
TRENDS & PRESENT POSITION |
| Water Debt
Since this report is based largely on the statistics contained in the Municipal Blue Book for 1999 no water debt shows in those statistics. However, since that year the city has contracted with the Municipal Finance Authority to borrow $3.3 million for the construction of the Greeley Creek Water Filtration Plant. Water Capital Expenditures* Revelstoke continued to spend very little on its water supply system for the five year period ended 1999 as can be seen from the following chart. The positions of Castlegar and Quesnel in the chart below have been reversed compared with the average for the five year period ended 1998.
* Capital expenditures on utilities are often intermittent so that, in order to avoid spikes in charts, the amount spent by communities for capital works is taken as being equivalent to the amount of debt financing and transfers to reserves each year. |
| Water Reserve Fund
and Surpluses
The following chart shows the history of the Water Reserve Fund since 1996. The recent phased increases in water rates has provided funding to finance the borrowing for the water filtration plant as well as place the reserve fund in a healthier position to meet future capital projects.
Water operating accumulated surpluses have been declining over recent years but in 1998 this trend was reversed as a result of water rate increases and in 2000 the balance amounted to $367,912.
|
| Water Rate Burden
The average residential water rates for all of the members of the comparison group is shown in the following chart:
Revelstoke's residential
water rates were increased from $175 to $225 per year on January 1, 2000. |
