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1988-08-02 PacketY.. q!ST&"FIELM I N IA 23832-0 BOARD OF SUPERVISORS G. H. APPLEGATE, CHAIRMAN CLOVER HILL DISTRICT MAURICE B. SULLIVAN, VICE CHAIRMAN MIDLOTHIAN DISTRICT AGENDA MDIp A DISTRICT HARRY G. DALE DISTRICT JESSE J. MAYES MATOACA DISTRICT LANE B. RAMSEY COUNTY ADMINISTRATOR DATE: AUGUST 2, 1988 COURTHOUSE TIME: 8:30 A.M. 1. Call to Order at 8:30 a.m. Administration Building Room 502 2. Work Session Debris Landfill Report 3. Work Session Utility Rate Study 4. Executive Session for Consultation with Legal Counsel Regarding Potential Litigation Relating to Route 288 Pursuant to Section 2.1-344 (a) (6) of the Code of Virginia, 1950, as Amended 5. Adjournment i BOARD OF SUPERVISORS G. H. APPLEGATE, CHAIRMAN CLOVER HILL DISTRICT MAURICE B. SULLIVAN, VICE CHAIRMAN MIDLOTHIAN DISTRICT C. F. CURRIN, JR. BERMUDA DISTRICT HARRY G. DANIEL DALE DISTRICT JESSE J. MAYES MATOACA DISTRICT MEMORANDUM IR CHESTERFIELD COUNTY P.O. BOX 40 CHESTERFIELD, VIRGINIA 23832 (804) 748-1211 TO: HoKe. le Members, Board of Supervisors FROM: aRamsey, County Administrator DATE: July 28, 1988 SUBJECT: Work Session - Utilities Rate Study - August 2, 1988 COUNTY ADMINISTRATOR LANE B. RAMSEY The Utilities Rate Study conducted by Camp, Dresser and McKee (CDM) has been completed, reviewed with the Home Builders Association of Richmond, The Developers Council and the Board of Supervisors Rate Study Committee. Staff will present the recommendations of the Rate Study Committee to the full Board. The major changes from the recommendations made by CDM are as follows: 1. Retain an installment plan for payment of water and wastewater connection fees for existing home owners and charge the applicant the cost of providing this service. 2. Retain refunds for off -site extensions with modifications to the existing policy. 3. No reduction in existing ancillary charges. 4. Reallocate the cost of extensions to existing developments and extensions for economic development. Attached are the draft recommendations which are currently undergoing final review by the Rate Study Committee. Staff will review the rate setting concepts and present the Rate Study Committee Recommendations. Following the wortk session, the Home staff Bu Buildersrward the Association lnof al recommendations Richmond. Honorable Members, Board of Supervisors July 28, 1988 Page 2 The public hearing to consider the ordinance amendments necessary to adopt the rate study has been scheduled for the board meeting on September 14, 1988. LBR/jhm cc: Richard F. Sale David H. Welchons A:JULY3688.DOC Board of Supervisors Rate Study Committee Recommendations TERMINOLOGY Below are terms that are important to understand for this report. Equivalent Residential Unit (ERU): This unit is established as a benchmark for comparing water and wastewater demands generated by different classes of customers. The ERU is the "unit" of measurement on which user fees and CCR charges are based. Based on customer data, a single-family residence served by a 5/8-inch meter or each unit of a duplex are both considered to be an ERU. The other customer classes (i.e., apartments, trailers, business, industry and government) are converted to ERU's based on their respective usage patterns or meter size. For example, in terms of water system use, a typical apartment uses 85 percent of the water that a single-family residence uses (the difference is usually attributable to family size, laundry, lawn sprinkling, etc.). Accordingly an apartment is set equal to 0.85 ERU. User fee: This term is one of three basic categories of customer charges. User fees generate revenues that pay for the majority of operating costs incurred by the County for labor, chemicals, electricity, repairs and supplies. It is the only category of charges that is billed to all customers in the County every two months; the other two categories are generally one-time charges. For the purpose of this report. user fees for water are termed tewater are to User fees consist of three main components. These are referred to as the "three C's". _ Capacity: One component of the wastewater user charge and the water rate is based on the cost to the County to have the system capacity available to serve each customer. This "readiness -to -serve" component is based on the debt service cost of the capacity component of existing facilities. The other part of this fee includes the estimated replacement cost of plant and equipment. This monthly cost is a fixed amount per ERU, and is charged regardless of actual consumption. - Customer: This is another fixed monthly cost, and reflects the administrative costs associated with each account the County must manage. Together with the capacity cost, it forms the minimum monthly bill, even if zero gallons of water are consumed. 1 M LWA - Commodity: This component is the only volume -dependent component. Conceptually, it is based on the cost incurred by the County to obtain, treat, pump, and store one hundred cubic feet of water or to collect, treat, and discharge one hundred cubic feet of wastewater. It is designed to cover operating costs for labor, electricity, chemicals, etc. Connection fee: This fee can generally be described as a one-time charge to new customers for connecting either the water or wastewater systems. The connection fee consists of several components, the largest of which is the capital cost recovery charge (see below). The Connection fee consist of two main components: - Capital Cost Recovery (CCR) Charges: To be completely descriptive, this charge would be called a "capacity expansion capital cost recovery charge", thereby underscoring the important role that it plays in the total rate structure. Essentially, the CCR charge is the cost associated with providing future capacity to each new customer. Existing customers pay for the provision of system capacity' as part of their user fees, and should not be burdened with any cost associated with providing additional capacity to serve future customers. - Installation Charges: This would include any and all costs incurred by the Utility Department associated with the physical connection to the,system for the customer being charged. Ancillary Charges: Miscellaneous charges for services whose cost are identified and segregated and the benefit is unique to the person being charged. Virtual Meter Size: Basis for situations where certain approved fixtures require larger meters than would other wise be required. Charges would relate to the meter size required if the fixtures were not installed. 2 M LWA BACKGROUND The Rate Covenant of Chesterfield County's outstanding water and wastewater revenue bonds requires that the County revise from time to time the rates and charges for water and wastewater service to meet all obligations of the water and wastewater system. In July of 1987 it was determined that a rate study should be conducted by Camp Dresser and McKee. Their recommendations were presented to the Board in February 1988. A committee was formed and assigned the task of presenting a final recommendation to the full board. The purpose of the study was to assess the sufficiency of the existing rates through analysis of historical financial data and establishment of future revenue requirements. The study sought to strike an appropriate balance between the competing objectives of equitability and administrative simplicity in establishing water and sewer rates for Chesterfield County. The most equitable rate structure is one in which all customers pay precisely their fair share of system costs based on their actual usage of the water supply or wastewater system. The simplest type of rate structure is one in which everyone pays the same system -wide average amount, regardless of how system usage is allocated among customers. To achieve absolute equity among all customers (i.e, establishing a different charge for each customer) would place an unmanageable and costly administrative burden on the Utilities Department, an unnecessary burden that would result in increased costs to all customers. To minimize administrative costs (i.e., by charging the same amount to every customer),'would be unfair to some users, who would essentially be subsidizing other users. Clearly, the optimal solution in most cases will be a rate structure that lies somewhere between these two extremes. The recommendations that follow attempt to do just that. The guiding principle followed in establishing the recommended rates was that the cost of system expansion should be paid by new customers and the cost of system upgrading, rehabilitation and replacement should be paid by all customers. Since existing customers benefit little from further system expansion, but do benefit from upgrading existing facilities that serve them, this type of cost apportionment is equitable. The recommendations were discussed with representatives of The Chesterfield Developers Council and the Home Builders Association of Richmond. Because of these discussions the recommendations that have resulted are a combination of efforts and ideas from all those involved. It must be made clear however, that all parties may not agree fully with all the recommendations submitted. It is believed that these recommendations, if adopted, will formulate a rate structure that is more equitable. The new structure will provide the Utility Department a sound basis for defending its rates and generate the funds required to continue providing the quality of service our citizens deserve. 3 0 RECOMMMATIONS Ancillary Charges 1. Increase the wastewater high -strength surcharges for BOD to $0.214 per pound and for suspended solids to $0.090 per pound. 2. Charge a meter reinstallation charge in those cases in which the meter has been removed from a delinquent customer's service and subsequently reinstalled. 3. Recover the cost project inspection through connection fees 4. Charge for bacteriological testing at $13.00 per sample. S. A temporary meter disconnect option will remain available with the following change: The customer will pay a fee equal to the normal minimum monthly service charge for each month the service was disconnected to recover the cost of "readiness -to -serve." 6. A water meter testing charge is recommended to be adopted and charged to the customer if the meter is found to be registering accurately. 4 RECOMMENDATIONS TT0nr fen0 1. Revise the rate structure to have fixed monthly charges for recovery of customer costs and capacity costs, and a uniform volume charge for the recovery of commodity costs. 2. The existing irrigation policy is recommended to be continued; the existing policy provides incentive for conservation. 3. The meter size based customer classes for water rates and wastewater user charges should be continued, with the following recommended exceptions: Set the fixed monthly capacity costs charges for multifamily -family residences and trailers at 85 percent of that for single-family residences on a per -dwelling -unit basis. Bill all units, regardless of occupandy. For all other customer classes, have fixed monthly charges based upon relative meter capacities as defined by AWWA. 4. Bill the minimum user charges upon payment of the connection fee. 5. Base minimum user charges on the "virtual" meter size for conservation purposes when approved,water savings devices are used. 6. Base minimum user charges on the "virtual" meter size when fire protection fixtures are provided through the residential service up to a maximum 2" meter size. 5 M M RECOMMENDATIONS Connection fees 1. The debt service apportionment method is recommended for setting the capital cost recovery charges. This method has determined the water system capital cost recovery charge per ERU to be $1180 and a charge per ERU for the wastewater system to be $2760. 2. Alter the refund policies as follows: A. Oversize Continue to refund the full cost of oversizing. Instead of refunding through connection fees at the 75 percent level, refund water main oversizing at a rate of 55 percent, and wastewater at a rate of 40 percent of the capital cost recovery fee to be paid. Calculate oversizing costs by using the set schedule per foot. B. Offsite Modify the calculation for off site refunds to 50 percent of the construction cost up to 3000 feet (no off site refunds for extensions greater than 3000 feet). Set a maximum annual amount of refunds to be given. Refunds will be made on a first come first served basis up to this amount. This amount will be funded through the capital cost recovery fees. 3. Implement pricing schedules for meter installations that distinguish between just installation of meters themselves, and installation of meters with full'service. 4. Promote water conservation and encourage the use of water saving fixtures by basing the capital cost recovery charge and the monthly capacity costs charge upon the "virtual" meter size needed. 5. Encourage the use of sprinklers for residential fire suppression purposes, extend the "virtual" meter size concept to these residential installations. 0 M In 6. Delete the $600 deduction for making application for wastewater service within 30 days of availability. 7. Where sewer is available but no lateral has been constructed to serve an existing lot or parcel, the connection fee will be reduced by $800. 8. All costs of extending the system to existing subdivisions not funded by special districts will be funded from user fees and connection fees. 7 M NOTES: 1. The use of Special Districts for the recovery of infrastructure costs is a viable and useful mechanism that should be used in those situations where it is applicable. By doing so, costs are recovered directly from those benefiting. 2. The recommended rates are for one year only. The results of these changes shall be monitored closely and additional recommendations and or changes are to be addressed annually during the budget process. 3. Require the use of master metering when feasible. 4. When the "virtual" meter size is used in determining fees, a review of the consumption pattern for the customer will be required annually to determine if this rate is justified. 5. Any expenses funded by the Utility Department accounts or rates for the purpose of encouraging Economic Development should be reimbursed by the General Fund with revenues generated by those businesses locating in the county as a result of those expenditures. The County Administrator objects to the Utilities Department besng reimbursed as long as the expenditure is limited to $100,000 each for water and sewer per year. 6. Continue offering an installment payment option and begin charging for this service. Charges are to be at a level to recover all costs associated with providing the option. Charge a handling fee of'3% of'loan amount plus $20 Charge customers an interest rate of 10% 7. Encouragement of low water demand landscape planning, changing the building code to require the installation of water saving plumbing devices for all users and including automatic shut off fixtures in public buildings. (May require BOCA code amendments.) 8. Discontinue escrow agreement made with Home Builders Committee for Wastewater Connection fees. All previously escrowed money has been expended on projects to increase treatment capacity. 9. Increase the meter deposit on portable 3-inch meters to the actual cost of the meter, which is approximately $550. 10. Do not implement any private fire protection charges, and consider the costs of private fire protection a part of the costs of public fire protection. 11. No adoption of a policy for requiring customer deposits. �3 M n SUMMARY TABLES The fees developed in this report are set at a level to meet the next year's requirements of the water and wastewater systems. These fees include user fees (comprised of capacity, customer and commodity components), capital cost recovery charges, and ancillary charges. They are presented in the summary tables that follow. Table ES-1 sets forth the recommended water system rate structure projected to provide adequate revenues for Fiscal Year 1989. The recommended wastewater user charge schedule for Fiscal Year 1989 is presented in Table ES-2. Table ES-3 presents a comparison of the effects of the recommended rates upon various customer classes. The recommended schedules for water and wastewater capital cost recovery charges are given in Table ES-4 and ES-5, respectively. Table ES-6 provides a comparison of the existing and recommended capital cost recovery charges. Table ES-7 presents a comparison of existing and recommended ancillary charges. 9 M n TABLE ES-1 CHESTERFIELD COUNTY, VIRGINIA SCHEDULE OF RECOMMENDED MONTHLY WATER RATES FOR FISCAL YEAR 1989 CUSTOMER COSTS CHARGE: $1.77 per account per month (1) COMMODITY COSTS CHARGE: $0.72 per hundred cubic feet (ccf) CAPACITY COSTS CHARGES: Recommended Number Monthly Meter Size Of ERUs Capacity Customer Class (inches) Per Unit Cost Charge Single Family Residential (2) 1.00 $ 3.58 Apartments (per Unit) 0.85 3.04 Duplexes (per Unit) 1.00 3.58 Trailers (per Unit) 0.85 3.04 All Other Customer Classes: 5/8 and 3/4 1.00 3.58 1 2.50 8.95 1-1/4 3.60 12.89 1-1/2 5.00 17.90 2 8.00 28.64 3 16.00 57.28 4 25.00 89.50 6 50.00 179.00 8 80.00 286.40 10 115.00 411.70 12 155.00 554.90 (1) For all accounts that receive water service. (2) For a residence with a 5/8-inch meter. Residences served by larger size meters pay in accordance with the schedule shown for All Other Customer Classes, except where virtual meter size policies apply. Revised: July 28, 1988 M n TABLE ES-2 CHESTERFIELD COUNTY, VIRGINIA SCHEDULE OF RECOMNDED MONTHLY WASTEWATER USER CHARGES FISCAL YEAR 1989 CUSTOMER COST CHARGE: $1.77 Per account per month (1) UNIFORM VOLUME CHARGE: $0.94 per hundred cubic feet (ccf) CAPACITY COST CHARGES: Recommended Number Monthly Meter Size Of ERUs Capacity Customer Class (inches) Per Unit Cost Charge Single Family Residential (2) Apartments (per Unit) Duplexes (per Unit) Trailers (per Unit) All Other Customer Classes: 5/8 and 3/4 1 1-1/4 1-1/2 2 3 4, 6 8 10 12 1.00 $ 7.45 0.85 6.35 1.00 7.45 0.85 6.35 1.00 7.45 2.50 18.65 3.60 26.80 5.00 37.25 8.00 59.60 16.00 119.20 25.00 186.25 50.00 372.50 80.00 596.00 115.00 856.75 155.00 1,154.75 (1) For wastewater -only service accounts. (2) For a residence with a 5/8-inch meter. Residences served by larger size meters pay in accordance with the schedule shown for All Other Customer Classes, except where virtual meter size policies apply. Revised: July 28, 1988 %W 'Omi � D N v v • • FC �01 01 N = OD lO lJ1 O ll1 O l!, CF •` c0 C'f f� A A /D C U1 (D S S S M C7 G f'! GC C7 3 f7 j cSD rt ty 2 N u A A � rn fD C.+ A (A A (A A O tt 0 wQ J N d A A X A W if A X 8 C� O �! 1+ t"r rt f�D j m N Sc ui RDD O C O ff O00 C co In c. a - a a 3. n 3 a c'e c`D a o. J 1+ a rt 1•+ (D, ' N TNJ S O cm S M N N 01 0 G .' N O NO NJv .Ja al01 1FFy11 tO N tJ1 O N T OD •+ OD 7 S �Ou,un O fD < l 401. t0 N � 01 C A M A • Cl) w yy to O m 7 F N W F ODD W F W -4 to p O S O O CDUl ttoo °AID W , K O L" A N A J W P. +� 7 C d O W tNi+ t•Wp F W a f•/1 •ON1 FF W- CO C+ t< N OOD W F .. 01 �I W 0 « 44. +► 0 a � c Der A v v W W v F OD W W M i1► M O Dt Fpb W F J Fy� S N co01 F tJi 0* F N tyO1 O 01 FO p O 0 0 v Un r W p ti► r► P n N F W N N N F N W tO �I t0 �1 F v v N p Ln F O U7 O O1 v OD F IH W �I A S DI um t0 co N Q w Cl) 3 D a, 2 > O rn :d X � � m M CA CA 2 -4 C� m Z rm 2 rm D 17 O y-1 (A 0 N < W z to n CD c� to z m r a a m n n m (A 2 v O En M TABLE ES-4 CHESTERFIELD COUNTY, VIRGINIA SCHEDULE OF RECOMMENDED WATER SYSTEM CAPITAL COST RECOVERY CHARGES Recommended Number Capital Cost Meter Size Of ERUs Recovery Customer Class (inches) Per Unit Charge Single Family Residential (1) 1.00 $ 1,180 Apartments (per Unit) 0.85 1,003 Duplexes (per Unit) 1.00 1,180 Trailers (per Unit) 0.85 1,003 All Other Customer Classes: ' 5/8 and 3/4 1.00 1,180 1 2.50 2,950 1-1/2 5.00 5,900 2 8.00 9,440 3 16.00 18,880 4 25.00 29,500 6 50.00 59,000 8 80.00 94,400 10 115.00 135,700 12 155.00 182,900 (1) For a residence with a 5/8-inch meter. Residences served by larger size meters pay in accordance with the schedule shown for All Other Customers, except where virtual meter size policies apply. Revised: July 28, 1988 TABLE ES-5 CHESTERFIELD COUNTY, VIRGINIA SCHEDULED OF RECOLRNDED WASTEWATER SYSTEM CAPITAL COST RECOVERY CHARGES Recommended Number Capital Cost Meter Size Of ERUs Recovery Customer Class (inches) Per Unit Charge Single Family Residential (1) 1.00 $ 2,760 Apartments (per Unit) 0.85 2,346 Duplexes (per Unit) 1.00 2,760 Trailers (per Unit) 0.85 2,346 All Other Customer Classes: 5/8 and 3/4 1.00 2,760 1 2.50 6,900 1-1/2 5.00 13,800 2 8.00 22,080 3 16.00 44,160 4 25.00 69,000 6 50.00 138,000 8 80.00 220,800 10 115.00 317,400 12 155.00 427,800 (1) For a residence with a 5/8-inch meter. Residences served by larger size meters pay in accordance with the schedule shown for All Other Customer Classes, except where virtual meter size policies apply. Revised: July 28, 1988 �GI F m Z rm m m m m 01 F N N O a- C C O. orm ,pm A s� 3' (30 R N C N f0 f+ i O. M OCI f0 f0 (N/1 p�I1 L A < O. H N N 1/1 N O f11 , 'A7 1 � '► ^ A n _• N w w w j l 14 << 01 O w N A g3 S oo j j A A C W N• O. X X N v l' M M O A A AOD CbIe" 2 S n 3 j f+ A j J j f'f 01 01 w A N , °i eA* a o 0 0 �b a — •�• + �° w° O• A Z 0 1 W N O a � A O Ln OAI OA1 8 e► �• .0 f+ c+ f+ (A w w w A cm A O A cm (A (A J v+ r _. J t0 J -� C+ i 0 �e 0 5J� m x T m m m �S.0 8 c J O M O S S S S N < < < e+ wp A f0 A C Cl) N ^ ^ c"I cm w v v ? a A o M C A W N w w w w o J N• O U1 2 0 N W N N N �ON� , un S Sto 01 `°SSSSS S O SLM SS SS A nN z w w w w CC37 O 8J o 7• Cc 7 r► cc Oi 01 O .O N 7 Ln Vpp 7G 01 •l O pW1 N y01 O N_ CO O Q�ppff W S OI O O O O O O O CZ p 01 w w ti► w N A N A J CNE r► A rt obi 1 O �_ , 0 $ w OWo NJ�+ m a J p o O G G o cn co O z o to a '" w v 8 O S 8 S S S S S S Cl) n I+ '. ... .-. S 01 0) 72 IO C+ v A 01 •w C w M w � O J CD tO0 N O1 N N W l0 W N � N � � 8 8 ppp Epp pp�im SS888 8 88 8S 01 d w w w w C A J J J l0 W �ppl Cco W W J pD 2 O O O O V1 F O O lT o S Soo S O S S S a l'nl) 7 V 01 J J OJp}} 1 i � N1I��J11C W � Q i! 7 IO A A CL dP de ?r i� K = TABLE ES-7 CHESTERFIELD COUNTY, VIRGINIA COMPARISON OF EXISTING AND RECOMMENDED ANCILLARY CHARGES Percent Existing Recommended Increase/ Type Charge Charge _ (Decrease General 1. Account initiation $ 15.00 $ 15.00 0 Charge 2. Late Payment Charge $1.50 minimum 0 or 5% + 1%/mo. Same as Existing 3. Project Inspection Fee 4. Customer Deposits 5. Project Plan Review 3% of final cost Included in CCR Charge None None None Included in CCR Charge Water System 6. Meter Installation Charge (a) With Service Line -5/8 inch Part of connection fee -1 inch Part of connection fee -1-1/2 inch Part of connection fee -2 inch Part of connection fee (b) Without Service Line -5/8 inch Part of connection fee -1 inch Part of connection fee -1-1/2 inch Part of connection fee -2 inch Part of connection fee 7. Bill Collection Prior to Disconnect $10.00 8. Service Reconnection Fee $25.00 (Table continued on next page) $ 430.00 $ 640.00 $ 975.00 $1,100.00 New fee New fee New fee New fee $ 35.00 New fee $ 90.00 New fee $ 205.00 New fee $ 260.00 New fee $ 10.00 0 $ 25.00 0 ✓ Na TABLE ES-7 (CONTINUED) CHESTERFIELD COUNTY, VIRGINIA COMPARISON OF EXISTING AND RECOMMENDED ANCILLARY CHARGES Percent Existing Recommended Increase/ Type Charge Charge (Decrease) 9. Meter Reinstallation $ 50.00 $ 50.00 0 Charge 10. Portable Water Meter $100.00 $ 550.00 450% Deposit 11. Fire Protection Fee None None 12. Bacteriological Testing None $ 13.00 New fee 13. Meter Testing Charges (a) 5/8 inch None $ 30.00 New fee (b) 1 inch None $ 30.00 New fee (c) 1-1/2 inch None $ 40.00 New fee (d) 2 inch None $ 40.00 New fee 14. Meter Turn-off Charges None None 15. Meter Re -read Charges None None 16. Temporary Meter Disconnect Fee Part of Service Customer cost charge --- Reconnection Fee plus capacity costs (Item 8) charge each billing period, plus Service Reconnection Fee (Item 8) Wastewater System 17. Wastewater Surcharge $0.04/lb BOD(1) $0.214/lb BOD 453% $0.04/lb SSW $0.09/lb SS 125% (1) This surcharge is not currently being used by the County since there are no users to which it applies. JUNE1388.DOC TABLES ES-8 CHESTERFIELD COUNTY, VIRGINIA COMPARISON OF REVENUE PROJECTIONS FOR FISCAL YEAR 1989 USING EXISTING AND RECOMMENDED RATES AND CHARGES Percent Revenue Budgeted Estimated Revenues Revenue Increase/ Fee Category at Existing Fee at Recommended Fee Differential (Decrease) Water System: Water Rates Revenue $10,000,000 $9,929,000 (6) (;71,000) -1% Capital Cost Recovery Charges 2,943,000 (1) 4,834,000 (4) 1,891,000 64% Ancillary Charges and Other Income 985,900 774,900 (7) (;211,000) -21% Total Water 13,928,900 (3) 15,537,900 $1,609,000 11.6% Wastewater System: Wastewater User Charge Revenue $10,150,000 $11,748,000 (8) $1,598,000 16% Capital Cost Recovery Charges 8,409,000 (2) 9,500,000 (5) 1,091,000 13% Ancillary Charges and Other Income 3,065,100 2,885,100 (9) (;180,000) -6% Total Wastewater $21,624,100 $24,133,100 ;2,509,000 12% Grand Total: $35,553,000 $39,671,000 $4,118,000 12% (1) Includes $60,000 of installments. (2) Includes $200,000 of installments. (3) Excludes $415,000 of Sale of Services and Supply Revenue for Inventory. (4) Taken from Table 7-5. (5) Taken from Table 7-15. (6) Taken from Table 7-4. (7) Taken from Table 7-3. (8) Taken from Table 7-12. (9) Taken from Table 7-11. Revised: July 21, 1988 ' � `0 2? vs' H BARICHMOND HOME BUILDERS ASSOCIATION of RICHMOND 5803 STAPLES MILL ROAD POST OFFICE BOX 6521 RICHMOND, VIRGINIA 23230 804 264-2821 Michel R. Dumont President June 13, 1988 R Michael Pierce President -Elect Barry L. Bishop Mr. David H . Welchons Vice President Budder Director of Utilities P. O. Box 40 GaryByrd VicePresident Associate Chesterfield, Virginia 23832 Vice P Philip N DuHamel Dear Dave: Secretary The Chesterfield Legislative Committee of the Home M M. "Mike' Gompf Builders Association of Richmond has, once again, devel- Treasurer oped some specific recommendations with regard to the pro - Susan R. S posed connection fee increases and the Water/Wastewater ice Executive Vice President study. In addition, we would like to present some observations, as well as reiterate some questions which came up during the discussion process, which we believe should be addressed at some time in the future. Our first observation is that the Water/Wastewater study assumes growth will continue at the same level it has for the past few years (the study uses 6% increase in growth per year over 6 years). HBAR feels this may be an overzealous presumption. Building and development are directly tied to the economy and are generally cyclical in nature. This year alone, economists have predicted that home building will decrease by at least 10%. Although it is too early to tell whether the economists' predictions will come true, it is safe to state that growth will not be constant. Whether or not there is a net increase or decrease in growth over the next six years, it is evident certain utility projects will be undertaken. Therefore, it seems unwise for the County to attempt to finance such necessary projects with an unreliable and inconsistent source of revenue like connection fees. This leads us to our second observation; that necessary inprovements, extensions and other miscellaneous expenses should be paid for with a reliable and constant source of revenue, such as user fees. After reviewing the different utility systems throughout the Richmond area, it HBAR Recommendations Page 2 appears that Henrico's policy of using connection fees only for future capital improvements, and otherwise using user fee revenues to fund other necessary utility projects, is both fiscally wise and good management. We hope your department will consider this when putting together future budgets. Our third observation is that infrastructure has tra- ditionally been paid for by the "present generation" for the "next generation." which has also been the case in Chesterfield County. The study, however, assumes that this new rate and fee structure will start at ground zero, when in fact, existing residents will continue to pay for the existing debt. Should these current residents decide to buy a new home in Chesterfield County, they would still be required to pay on existing debt for past infrastruc- ture and also pay for the new infrastructure through increased connection fees. Consequently, new home buyers will be double -taxed. We will follow up on this point later in our recommendations. Our final observation is that the Water/Wastewater study neglects to recognize that existing customers will benefit from expansions and modifications/improvements to the utility systems. Therefore, just as the study assumes new residents should pay something toward existing debt, we believe current residents should also pay something toward new debt for expansions. HBAR would like to reiterate the following questions for consideration by your department: 1. Are existing users on the water and wastewater systems presently paying their fair share? 2. How efficient are our utility systems? 3. Has the study taken into consideration that commercial and industrial development will increase over the next six years? This is important because if commercial and industrial development increases significantly, and residential development decreases significantly, then clearly two things will happen under the study's proposal: 1. There will be a shortfall of funds, due to a decrease in residential growth, and 2. There will be a significant increase in stress on both water usage and wastewater treatment due to unexpected increase in these larger users. HBAR Recommendations Page 3 4. Finally, will the Utility Department's future budgets reflect the higher cost of treating BOD, nitrogen, etc...? If so, who will pay for this additional cost? We hope your department will consider these questions when developing future budgets. We have offered the above observations and questions because HBAR believes these point out some of the problems with the basic philosophy and premises of the Water/ Wastewater study. The following HBAR recommendations are a result of an in depth analysis of the study and the Utility Department's CIP, as well as several meetings with you and your staff. The recommendations address some of the problems and/or inconsistencies we have found in the study. HBAR RECOMMENDATIONS: 1. The following expenses included in the $131 million CIP should be removed from new growth expenses: -$6 million for extension of water lines to existing development. -$5.4 million for extension of sewer lines to existing development. -$600,000 to sewer highway projects. -$1.2 million for economic development Total: $13,200,000 should be removed from the $131 million CIP for new development projects, and Connection Fees should be adjusted (-$139) in Water, and (-$165) in Wastewater. These expenses should come from one of three sources: Special Assessment Districts (especially for extensions of water and sewer lines to existing developments), General Funds, and/or user fees. 2. HBAR is strongly opposed to the elimination of rebates for developer installed off -site extensions. It is our opinion that developer installed off -site extensions saves the County money in the long run because: 1. County does not have to spend its money or pay interest on such money to construct and install these lines. 2. County does not have to plan for or execute the construction of these lines, which clearly would need to be done at some point in the future. HBAR Recommendations Page 4 In addition, there is no information in either the study's text or tables that clearly indicates that the off -site rebate program is causing the County to lose money - cash flow from the rebates is not shown in the study. HBAR would recommend that the County do one of the following: a. Continue the off -site rebate program, with an annually determined maximum refund amount and allow the connection fees to be increased an adjusted amount to help pay for the refunds. (Your department suggested $600,000 for 1989, which would amount to an increase in the Water connection fee of $42, and an increase in the Wastewater connection fee of $100.) b. Or, discontinue the current rebate program, and replace it with a credit program, similar to the pro- gram that Henrico County uses. This program does not require any exchange of money on the County's part, but instead, gives credits against the connection fees for the property where the improvements have been completed, until the amount of the improvements has been met. This alternative will not cost the County's budget additional dollars in refunds, nor will it increase the cost of connection fees. 3. The study recommends reducing costs to existing customers by decreasing the cost for existing developments to tie into the County sewer system from the current rate of $3,600 to the recommended rate of $2,700. HBAR would argue that reducing these costs is clearly inefficient. There is an obvious cost to the County to extend these lines, and HBAR would argue that realistically, the present fee of $3,600 probably does not cover the actual cost. Therefore, HBAR would respectfully recommend that: 1. The County not decrease the present fee of $3,600. These existing developments should not be subsidized by either new development or existing users, but rather, they should pay their own fair share. They will clearly benefit by both better service and appreciated property values, and consequently, it is fair for them to pay their share to tie into the system. 2. HBAR would, in fact, recommend increasing this connection fee to an amount that is clearly represen- tative of the cost to extend these lines to existing developments. This cost would need to be determined by the County Utility Department. If this initial HBAR Recommendations Page 5 cost is too great for the residents to bear upfront, we would recommend the use of Special Assessment -Districts, which spread the cost out over a period of time in an amount which is easier to handle. Once the improvements are paid for, the District is removed. 3. If, however, the County feels responsible for the majority of this cost, we would recommend that it be paid for out of the General Funds. These residents do contribute, through their taxes, to the General Fund, and therefore, it would be most appropriate to use dollars which these residents have contributed to pay for such extensions. This'seems to be a more appropriate and fair method of paying for these extensions rather than to require current users or new home buyers to subsidize these costs. 4. It is our understanding from both the study and Utility Department staff that the current user rates are sufficient to repay all existing debt. If the County were to follow the study's recommendations with regard to new users, these customers would, in effect, be paying double, i.e., they would be paying for new development through higher connection fees and they would still be required to pay the same user rates, which is, supposedly, to be used to pay for old debt. This is clearly unfair and inequitable. Therefore, HBAR recommends that you reduce the connection fee by an amount representative of that portion of the user fee used to retire existing debt. We will concur with your department that new customers should contribute something toward existing debt, just as we believe existing customers should contribute to expansions. We have taken your figures and re -worked them to determine what HBAR believes would be a fair amount for new customers to pay toward existing debt. (See Chart) The resulting overpayment needs to be adjusted in the connection fee by (-$68.18) for water and (-$287) for wastewater. 5. Your department has informed us that peak demand creates the most strain on the system and occurs primarily on the weekends in the spring and summer by residential users for irrigation of lawns. We therefore recom- mend that -the County institute a spring/summer water surcharge, similar to what Virginia Power does, to accomplish two things: HBAR Re&4wtmendations Page 6 a. The surcharge will help to finance the additional strain this overusage puts on the system and any costs attributed to this additional usage. b. Higher rates will discourage unnecessary usage and encourage water conservation. 6. Before we offer our final recommendation, we would like to summarize the connection fees, from the originally proposed $600 increase, to the newly figured amounts: Current Fees: Proposed Fees: Adjustment for non -growth CIP expenses - Rec. Water $ 800 $ 1,200 #1: (-$139) Adjustment to con- tinue Rebate pro- gram - Rec. #2:* (+$42) Wastewater $2,500 $2,700 (-$165) (+$100) Adjustment for double payment by new users - Rec. #4: (-$68) (-$287) New adjusted fee: $1,035. $2,348 = $83 Increase *If we choose the Credit Program over the current Rebate Program, the fees will need to be adjusted even further. Although the above figures indicate only a minimal increase in the connection fees, we will accept the proposed $600 increase, but ask that this increase be graduated over a four year period. This would help make the increase easier to swallow and would help to keep the price of housing more affordable. The short fall should be covered by an increase in user rates. We believe we have shown where certain expenses need to be removed from the new customers' tally, and should be attributed, in part, to existing users. We have also shown that the new customer is paying double, and the adjustment should be paid for by existing users. We believe, however, that it is only fair to graduate the user fee increase over the four year period as well. We believe that a shared increase in both connection fees and user fees is appropriate and equitable. Ili' 1440 HBAR Recommendations Page 7 HBAR believes that these positions are both reason- able and equitable, and we hope that your department will consider them as you prepare your recommendations for the Board of Supervisors. Once again, we have appreciated this opportunity to work together with your department in developing efficient and equitable policies for the County's utility systems. We look forward to our continued cooperative efforts in the future. Respectfully yours, (e i lw stance K. Harrison, Vice Chair Chesterfield Legislative Committee CC: Mr. John Bragg Board of Supervisors blb Equitable Amount of Existing Debt To Be Paid By New Customers Average number of ERU's Water Wastewater connecting estimated for next six years Annually 4763 4001 Six year period 28578 24006 Existing ERU's in the systems each year 68285 57364 Existing Debt Service $1,922,000 $8,442,000 Debt service capacity charge per ERU per year First year 1922000/68285 8442000/57364 = $28 = $147 Sixth year 1922000/96863 8442000/81370 = $20 = $104 Period Average $24 $126 Revenue added by new customers from debt service portion of 100023 68017 capacity charge x24 x126 $2,400,552 $8,570,142 Annual Contribution by new customers to 2400552/6 8570142/6 pay existing debt = $400, 092 = $1,428,357 Further Breakdown By HBAR Cmmaltive total of new ERU's represented by new customers over next six years 100,023 68,017 Cumualtive total of existing ERU's over next six years (68,285 x 6) +409,710 +344,184 509,733 412,201 New customers as a percentage of total 100,023/509,733 68,017/412,201 ERU's in systems = 19.62% = 16.5% M M • Existing Debt paid by new customers breakdown Continued Page 2 Determined percentage of present debt service new customers should pay New customers' percen- tage of existing debt Annual amount contrib- uted by new homeowner toward existing debt Excess contrubution per year Adjustment needed Water 20% 20% x 19.62% = 3.92% 1,922,000 x .0392 _ $75,342 400,092 - 75,342 = $324,750 - $68.18 Wastewater 20% 20% x 16.5% = 3.3% 8,442,000 x .033 $278,586 1,428,357 - 278,586 _ $1,149,771 $287.00 Z 41 r n E5 Good morning my name is John Bragg. I am the Assistant Director of Utilities for Finance and Administration. Our task today is to discuss the recommendations of the Rate Study Committee. This discussion will highlight the primary objectives these recommendations hope to achieve. Most of the recommendations were presented to you during the initial work session by representatives of CDM. Many are not of substance or it is felt will not create much concern. The majority of this presentation will focus on those significant recommendations that have the potential to create concern among your constituents. We will end this presentation by illustrating how these recommendations will affect some of our customers. r Slides 2,3,and 4 The primary objectives these recommendations hope to achieve are as follows. 1.To provide the Department of Utilities with the necessary funds to operate, maintain, and expand the system. 2 r N Q o o CC) M � LO rn 0 r Lci_ N N M LO Lf co /O/r�o V/ T _� T b? N Z T ff} 69 69 69 v • x W w W in CD Z O Lc (.0CM L1i a� r- N c � CM Cf tt cc�r M O 69 N co T W T .-- 69 TC\r 69 69 Lei 69 N 69 v Z W �I W � � Q W Z o co c o C9 M z co CC) 69 co cli %— r 69 69 69 O 69 W 69 ix W IL 0 w Q Z > N Z) U) w w Q W Q > 0— 0 � J Z Z U � w z O> I z < z z zcc O z cc_Ow wn. Ow Qo Q Q O �� U)U Xw wF- cr CC Qw <w w w CL> CLIL f--� w 0 0 z w� w w z cc Q to c0 M O co r W) Ul) O co T oIn Ict ' Z N x W od W cl o 0 0 - LO ^ o Z O N O r— M M T P- T O O ui r 69- r N m 69. 66. fDc� W W N W y Z 3 o cn rn o 0 0 Z o c� rn co M o / Cr) Lrio W CL O LLB O w C/) w Z w o 0 D U) w Ir w w w > a- 0 � 15 Zz Uw w z Ow z z Ir O O 0 w w w Q � LL. Q Q CL ZZ ZZ w w� w w 0 CL> MCL F—� CL M w xw xx ww 0 0 z w oc w w z oC w N CO) O co o, Ix r O- a W co LL. C) It- ui V CO) CV) Q ce co CE cc CC Q 8 00M) CL CD co n T 4ors 8 co co N T 4 � co N O CCL CM T 0 ri co O Q� °o 71, rm 4'* M co Ln N_co ti O N r c N Q O 8 CN9 eM O7 c T o c cq M O O N r� r N d4 0 gO C O L T w- ow 0 L T C Ir- 01 C% ch T. N 4} O O O CD r N .=r 15 In Slide 5B 2.To develop a rate structure that charges all customers for the expense of operating and maintaining the system and charges new customers for the expense of expanding the system. 3 Cn z O U W 2 z O U W 2 O Cn m U O W 1- U W Z Z O U C 0-y UW UJLa z LL z 0 U N N W WQa F- Z CZ aQa Q U W LU W J �Q F- CO Wy.c~t! 2 a a.. � NH W0� '�HU �W�= ~ pC CW o NH- N GQ aQ a 0 EU3 m W W= = Q v U a Qmoo. 3Q r- W G�V ►-aVtn pX OMO WQU W=LQ OX ZW.,..m Zuj O CZ O WIIL z Scc W Z �- �j ol 19 o LU Co VO LU ZZ a ZW ZLU >� Q2U) a.y P N N to Q N V J W !- G am W- Q N QaLU LAJ LU Qam NWa UJ WJU C� aW O 0WO� m¢U WW Z_ O v - ptL ¢� M 3.To provide a basis being implemented if the rate structure. for relating the cost of service to the fee and when a need arises to justify and defend 4 Slides 6 and 7 The recommendations whose affect is material and could cause some concern are as follows. Those that will affect the monthly bill and the largest number of residents are first on the list. 1.Revise the rate structure to include fixed monthly charges for recovery of customer costs and capacity costs, and a uniform volume charge for the recovery of commodity costs. Customer charges are those that pay for meter reading, account servicing and bill processing functions. Capacity charges are those that pay the existing debt service and set aside reserves for maintaining and replacing the system. Commodity charges are those that pay the cost to transport, store and treat water and wastewater used by the customer. The minimum monthly charges are necessary to pay expenses that will be incurred whether water is used or not. These charges are the primary reason the monthly bill will rise for the average customer under the proposed structure. 5 m m coo 0% LU U LL. ix 0 LL � C � C O O U N � N C � C �- O cY5 </> </> L U L j a) y W C w 3 C Q (D a) = U Q a; U cn = � H +- Cn 0 U 4- U o W 0 U � O � U O Q O a . U U U m m V) W 0 Q U Cie N Ix LU N J H Z O W 0 W C� G O W ix W J 0 W t/) LL U T- U o °'- o E U E CD Q U Q. W C+r � � o" to cz V cn W E {f} LL LU c !! rtrt o rW� v V LLJ U Q = CC U U Uui = O c) o O i CCO � LUco }- O0 O Q 3 (n LL � O U LL U T �W 2. Bill customers the minimum monthly charges immediately after the connection fee has been paid. This will mean sending out monthly bills to two to three hundred existing customers that were not receiving bills in the past. It will result in monthly bills being mailed to builders of homes that have been completed but not sold. 51 The next recommendations to be discussed are those that affect the connection fees. This area consumed most of the time in our discussions with the various groups that were included in the negotiations. These fees affect mostly new home buyers. They are one time fees. 1.The debt service apportionment method is recommended for setting the capital cost recovery fee. Capital cost recovery fee is a charge to recover the cost associated with providing future capacity to each new customer. This method estimates how much will be spent for expanding the system over a six year period. It assumes this amount will be borrowed. It then calculates the debt service for the loan over a specified period at an assumed rate. It estimates how many Equivalent Residential Units will be added each year during this period and charges each customer its pro rata share of the debt service. 7 Let me repeat this recommendation. The debt service apportionment method is recommended for setting the capital cost recovery fee. This method estimates how much will be spent for expanding the system over a six year period. It assumes this amount will be borrowed. It then calculates the debt service for this loan over a specified period at a given rate. It estimates how many Equivalent Residential Units will be added each year during this period and charges each customer its pro rata share of the debt service. M 15 Slides 8 and 9 The assumed period is twenty two years and the interest rate is 8.7% This method pays for the next six years expenses with revenues received from anticipated new customers over the next twenty two years. The method generates a fee that is lower than it would be if we were going to pay for those expenses as we go. If capital cost recovery fees received each year are less than expenses incurred for expansion the debt will increase therefore we will need to increase the fee. If the growth rate declines faster than we are able to reduce the expansion expenses the fee will need to be increased. This method places a high weighting on the accuracy of the growth rate estimate. 9 m In O U W F- N O V J H a Q V 9 W 1— N W Q FW- LLJ 0 Z W 9 2 O V W oe LA- J LLI V) W 0 Cie V W H� _a UV C � W W a> ZO W w O I— wo m U W LL Ot= WZ mm W za co to f- cM ei C C % t 0 OR o CR •- o T o T CN c C �. 'E cn CLcz a� U CD cn 65 E Q N x ocz N a> o. 0 a� cu cu .E cNa 3 a� c a� 0 s 3 a> a> E U c_ CO cz 3 U c a� a co CD cz 0 U- Wo .1 W 0 W N 0 V J la — a Q U 2 W H N N W Q W a z W 0 V W Ix LL 0 W cl W N N D Cc WLL Z 0Dyr x M W W ma z N Q U W 0 C) °r° O °r° o O 00 O 00 r C r O T c � T 0 N Cc: � '' co c c cc m v� c E o n a� (n Q F— CD a 0 d m 'v to cu CD CD 0 0 t 3 CD »r CD E t U c co �3 n> U c a) N a> 0 U- Slides 5A,14 and 15 2.The recommended rates are for one year only. These recommendations represent a significant change from the present structure and therefore we should move slowly. The results of these changes shall be monitored closely to insure objectives stated previously are being met. All issues brought forward during the negotiations with the other groups have not been addressed in these recommendations. Additional recommendations are being studied to be presented later in the year. 10 ' Nw '0 L 0 .. V O W Z O Lm W a- O W co Q V� O 2 II V W O � II N CD 0 LL. W M = cp O O *4o 0 0 0 L1. W M r V Q o _ O L— o co W �— W Q 2 O ix 0 Z W 0 Z Q U O O W W E LL E Z O OU CU 70 Z U) z CD O W LL Z O 5) F- =3 CU O W � Z N z `Z Oa_ 0 W 0 0 a U) tD CC W w I- Q Q LO rn "* �� � ti ti rn d' rM N CD to eT w a W N Q � LO M It (0 It ��� T O P- O .— qqr ce) N O CC C) m m co 0z Z a.Q w cz cz W c 'a o co ` coFZ L Co ca � LLL �0 a) �= �CD _= L W J D h-- U� a) (z U a) O Q V C M O •W W Z W W a� c �O U0 a) Cl) o W a) N.- o LL ~ t:n � N N � U CL C a� � 5 p 0 W CL W � CL Z a) X- cn c .. W¢ U a Q m O O x o Z <Q cO U) C Ltd Cl) cz �•c O W~ U) ~ O C O Z a) O C N a CZ QO � W LL- O L L N m Cc CO ww Z o O"d U V O >"a U W� 0¢ Lt_Q¢ C LLQQ C W (A V uj Q U) W U~ ~ W �w �¢ c~r� C3 �" C) J �z Fn?: :Z)CD Q � � cr w T LLJ >F- u u tt n u u u n >cn OONN d (D00Ln CM CO 06 �} MO tO coN6F} u-) ( Lo On N � V). 69. 649� Slide 10,11 and 12 3.Refunds for off site extensions will be continued with the following modifications to our present policy. Refunds for off site will return 50% of the construction expense to extend a line a maximum of 3000ft. Set a maximum annual amount of refunds to be given and adjust the capital cost recovery fee accordingly 11 *►' c O i O V Z O O _ ui w o N () v Q r V Z ci J � d 0 � t C- LU W � 1.0-01 L L 57< IL O p W .,.� T •m. to d L �y L CD N ♦-+ y .Q .� •d CD L ._ cu o N Lo o ow N C O C ._ *r N L L � i p Z � N C� i i i U O CL 0 W In WC GC G 0 U W W. z A d S O CM c 0 E cc c cc E E .X m E O f+ V d N N 'C C d m LL F— LL O cm 0 V) 0 LL LU ix c � � N C .� t � � O s r-+ O O O C O � E`+ E n •X U Co O Ea � c c c � c O cz cio C N co CD N O `~ a..O � U N (D � C C C C U O N U � 75 0) O . N cz N C O U C .0 N � N N O C' = N O .0 O .3 _0 C c =3 E .� V •X CZ oC 8 E O O O 0 O co ER O O +r O O E m X cz O co O W 0. 0 0 66 N d- 69 69 m LU M W LU h- N Q Q LA N cz O •C N co O cc O W N � 6F} mot' M I-- Q Q Slide 13 4.The use of Special Districts for the recovery of infra- structure costs is a viable and useful mechanism that should be used in those situations where it is applicable. By doing so, costs are recovered directly from those benefiting. All costs of extending the system to existing subdivisions not funded by special districts will be funded from user fees and connection fees. This subject also consumed considerable time during discussions with the various groups. The expense to extend the system to existing sub divisions does not benefit the existing customers or the new residents buying a new home. It was made clear during those meetings that neither party wishes to pay for those costs. 12 CD>' CZ C cn COCD cn O ctS O �' CDU = CD - — cn W .� 0 0M 0 -�-� -�-� ,.,_ _ U cn - — � -CD W O 0— >, cn cz >. (� cn N cz L- a).0 � o > cz O O . -0 J �� �cn � Cn a�oE��� cz� 0 O 0 � � L- O CD cn O i � .� � (ten >, U � ' (n CD cn to -� N O CZ OCD I— CD c� -}-r cCS U c O Slides 16,17 and 18 The next few overheads will illustrate how these recommendations will affect the budgets of some of your constituents. 13 %W N W 0 Q V W �U W Z W 014 co 04 W W �QLL; V�� ua:zz Q� W Q 0 W a W C'3 Q � T o V 69- � 0 CL o (Wn a cc W (� �LO� r M Cfl CC) T r. CO Lci cn a cn 6 0 3 U U O' Z x� W(n w � V Q ZZ Q z CM Q ZZZ Q Q co ow cts c� ?� ' U D E c C Q N N Q� C C J Q �CZo O s UUU N- UU0 f ♦ t W cO C9 Z L oe Q UcJ Q = G = U U fx im W C uj W > o,M0 oo Ix � a O� W \ LL Q U U �� W ~mooILD c000 to W W In t�► W > 06C)o N O CO T ai r o N O IL D Q�Z a, 0 m up \ Cl) —Z( U. Q W Z W am vi W Ix co ix Ix Z U o 0 N Q LL. Q Q Q Q Q Q Q f0� uj ZZZ ZZZ Ef} cc Lj- W UL -0 O E ui _oE_O v O EW ftj Q o �CZO o Q:C" UU Z O N Q T Cl) 0 m -c .Q .n U Y V =3 cn EE O CD d E c O to c 3 c a) o c U C �^ o OCD E c_ c a) a) a) CD N c 0 v c O O C) In + T + Q cqq o rn W co Uri u-) T T r Q � W F- m LLI w CD w a dCM ! d N cm i c CD J N E F— N E o ZO W L) C� t� N OD O T T cr- T T wvT F- M LO O GO C) + T + CC ccR r- r- W O W U) m i w w d� Ll- as rn O yy F— d i tm N w c H r= Z Z W Ci Ci 0 M O OD OO N *- T T w F2- 0 0 v co `+ + We have now discussed the objectives that these recommendations hope to achieve. We have analyzed those recommendations that are of substance and may create concern. We have illustrated how our customers will be affected financially. Let us now open the session for discussion. 14