TITLE
Resolution Regarding Approval of FY 2019 Schedule of Water Service Charges
BODY
Agenda of: June 20, 2018
Item No.: 2018-791
Amount: N/A
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Sue F. McCormick
Chief Executive Officer
Great Lakes Water Authority
DATE: June 20, 2018
RE: Resolution Regarding Approval of FY 2019 Schedule of Water 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 2018-791 with an effective date of July 1, 2018:
1) FY 2019 wholesale water service schedule of charges;
2) FY 2019 wholesale sewer service schedule of charges;
3) FY 2019 City of Detroit allocated wholesale water revenue requirement of $20,181,400, which is the net of $40,881,400 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 2019 City of Detroit allocated wholesale sewer revenue requirement of $181,159,300, which is the net of $186,675,300 gross revenue requirement less the Ownership Equity Credit of $5,516,000 in accordance with the WSSA.
5) FY 2019 City of Detroit allocated indirect water revenue requirement of $41,561,400, in accordance with the Regional Water Supply System Lease;
6) FY 2019 City of Detroit allocated indirect sewer revenue requirement of $31,419,800, in accordance with the Regional Water Supply System Lease; and
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 water system and sewer system leases signed between the Great Lakes Water Authority (GLWA/Authority) and the City of Detroit, the GLWA began operations of the regional water su...
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