The Town of Weaverville engaged WithersRavenel to update the long-term capital and financial plan for its water fund. WithersRavenel assisted the Town in updating and prioritizing its Capital Improvements Plan (CIP) from 2018 and reviewed the order and timing in which projects should be completed, including the expansion of its water treatment plant.
In addition to the CIP, the analysis addresses financing and future water rates for the Town. In conducting this study, WithersRavenel examined the past and present rates, reviewed previously prepared studies and usage projections, and projected the financial impact projected changes would have on the fund and its users.
The following objectives were identified for the study:
- Assist the Town with updating its 10-year CIP for the water fund and summarize capital funding assumptions.
- Update the 10-year financial analysis of the fund.
- Determine the adequacy of existing rates and charges to recover current and future operating and capital costs.
- Propose rates that maintain positive net income and are practical to implement.
- Review viable and defensible alternative water rate structures and develop a plan to implement a new structure to accomplish the revenue forecasts established in the financial analysis and accomplish board objectives.