Title
Resolution Regarding Approval of the FY 2025 Schedule of Service Charges
Body
Agenda of: February 28, 2024
Item No.: 2024-044
Amount: N/A
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Suzanne R. Coffey P.E.
Chief Executive Officer
Great Lakes Water Authority
DATE: February 28, 2024
RE: Resolution Regarding Approval of the FY 2025 Schedule of Service Charges
MOTION
Upon recommendation of Nicolette Bateson, Chief Financial Officer/Treasurer, the Board of Directors (Board) of the Great Lakes Water Authority, approves the following actions, which require a supermajority affirmative vote of at least five (5) members of the Board, and the attached Resolution 2024-044 with an effective date of July 1, 2024:
1) FY 2025 water supply system service schedule of wholesale charges;
2) FY 2025 sewage disposal system service schedule of wholesale charges;
3) FY 2025 City of Detroit allocated wholesale water revenue requirement of $27,094,800, which is the net of $47,794,800 gross revenue requirement less the Ownership Equity Credit of $20,700,000 pursuant to the terms of the Water and Sewer Services Agreement (WSSA);
4) FY 2025 City of Detroit allocated wholesale sewer revenue requirement of $205,924,800 which is the net of $211,440,800 gross revenue requirement less the Ownership Equity Credit of $5,516,000 in accordance with the WSSA;
5) FY 2025 City of Detroit allocated indirect water revenue requirement of $49,108,500, in accordance with the Regional Water Supply System Lease;
6) FY 2025 City of Detroit allocated indirect sewer revenue requirement of $34,873,500, in accordance with the Regional Sewage Disposal System Lease;
7) authorizes the Chief Executive Officer to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
Pursuant to the Regional Water Supply System and Regional Sewage Disposal System leases signed between the Great Lakes Water Authority (GLWA/Authority) and...
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