MVWA taking public comments on proposed 2% rate increase

The Mohawk Valley Water Authority is taking public comments on a proposed 2% rate increase for next year.

Posted: Oct 14, 2020 6:01 PM

The Mohawk Valley Water Authority is taking public comments on a proposed 2% rate increase for next year.

The MVWA says the increase will amount to a roughly $8 increase in water costs per average household.

Residents are invited to submit comments to the board of directors in lieu of a public hearing.

Comments will be accepted Oct. 15 – 22, and can be sent online at www.mvwa.us.

The board of directors will meet Oct. 26 to vote on the proposal.

The total proposed budget for 2021 is $26.4 million, and includes:

  • An overall 4.75% increase in operating costs.
  • Cash capital maintenance and repairs totaling $600,000.
  • A 5% hike in workers compensation premiums.
  • A 7% increase in Property and Liability insurance premiums.
  • A reduction in system-wide demand of approximately 3.2%.

The rate increase has been partially offset by a modest decline in debt and PILOT payments of $20,000.

The proposed budget also includes more than $1.2 million in cash carried forward from previous annual surpluses.

The MVWA is also preparing to close on the sale of water revenue bonds worth $15.2 million, to support several projects over the next three years. Included in the bond sale will be additional funding to refinance bonds sold in 2012 at lower rates. This refinancing is expected to save approximately $422,000 over the remaining life of those bonds.

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