CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to rates and charges for water services of Seattle Public Utilities; authorizing withdrawals from the Water Fund Revenue Stabilization Subfund; revising water rates and charges, and credits to low-income customers; and amending Seattle Municipal Code Sections 21.04.430, 21.04.440, and 21.76.040.
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WHEREAS, the City Council has adopted a six-year Strategic Business Plan which guides utility investments, service levels, and rate paths through 2023; and
WHEREAS, the adopted 2018-2023 Strategic Business Plan includes increases in the capital and operating requirements of the Water Fund in response to environmental and infrastructure concerns, with a resulting increase in revenue requirements; and
WHEREAS, Ordinance 121761, passed on March 28, 2005, established a minimum balance for the Water Fund Revenue Stabilization Subfund of $9,000,000, and permits funds in excess of this amount to be used to meet operating expenses, pay Capital Improvement Program expenditures, or to comply with financial policies; and
WHEREAS, the current balance in the Water Fund Revenue Stabilization Subfund exceeds the minimum balance, and the adopted Strategic Business Plan directs that a portion of the excess funds be withdrawn to reduce the Water Fund revenue requirement and thereby reduce otherwise necessary increases in water rates; and
WHEREAS, SPU has recently completed a rate study incorporating guidance of the adopted Strategic Business Plan; and
WHEREAS, the water rates authorized by this ordinance are consistent with the general rate-making policies set forth in Resolution 30742, adopted March 28, 2005; and
WHEREAS, credits for qualified low-income customers should be revised when water rates change; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. In order to lessen the increases in water rates necessary to meet the revenue requirements of...
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