The Council and staff are committed to improving municipal asset management, part of this process was to undertake a review to determine the full cost of service for both water and sewer operations and capital improvements. A Utility Review (business case) was complete outlining the recommended required rates to fully fund these services (assets) on a sustainable basis.
The review took into consideration the objectives outline below to create a full understanding of:
- Full cost recovery of system operating costs;
- Full cost of capital infrastructure requirements;
- Reserve contributions required for long term maintenance and replacement of all related assets.