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REPORT
TO COUNCIL |
TRENDS & PRESENT POSITION |
| Water Debt
The following chart shows the amount of debt per capita contracted in the water utility. The city has contracted with the Municipal Finance Authority to borrow $3.3 million for the construction of the Greeley Creek Water Filtration Plant which is now complete and in operation.
Water Capital
Expenditures
Revelstoke continued to spend very little on its water supply system for the five year period ended 2000 as can be seen from the following chart. Even with Revelstoke’s debt financing commencing in 2000, this has not had a significant impact on the city’s ranking.
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| Water Reserve Fund
and Surpluses
The following chart shows the history of the Water Reserve Fund since 1997. 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 $415,697.
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| 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 $225 to $250 per year on January 1, 2001
with a similar percentage increase for commercial customers. |
