PLACEMENT: Departmental
TITLE:
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WATER AND WASTEWATER SYSTEM TEN YEAR FINANCIAL FORECAST
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EXECUTIVE SUMMARY:
executive summary
In order to evaluate the sufficiency of existing rate revenues, County has contracted Resources Management Group, Inc. (PRMG) to prepare a financial projection of the wastewater utility system recognizing recent historical trends, anticipated future customer increases in the cost of providing services for the Fiscal Years 2018 - 2028. Rob Ori of PRMG, will present a summary of the Ten-Year Financial Forecast.
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DEPARTMENT: Utilities and Solid Waste
PREPARED BY: Name: Samuel Amerson, P.E.
Title: Utilities & Solid Waste Director
REQUESTED BY:
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
Public Resources Management Group, Inc. ("PRMG") has completed an update of the ten (10) year financial forecast (the "Financial Forecast") for the water and wastewater utility system (the "System") operations on behalf of Martin County (the "County"). The primary purpose of the development of the Financial Forecast was to identify the ability of the System operating revenues (derived primarily from monthly rates for service and other miscellaneous services charges) to adequately fund the expenditure requirements of the System, including the ten-year capital improvement plan as identified by the County. Specifically, the Financial Forecast focuses on the sufficiency of the existing rate revenues to fund the capital improvement plan and provide additional information to the County with respect to the anticipated sources of available funding (i.e., capital facility charges, anticipated indebtedness, etc.) for the projects required for service area development and capacity needs for the Fiscal Years 2018 through 2028 (the "Forecast Period").
The attached report includes a discussion of the significant assumptions used in the development of the Financial Forecast, an analysis of the ability of revenues o...
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