Title
Presentation: Proposed FY 2022 Schedule of Service Charges
Body
Agenda of: January 27, 2021
Item No.: 2021-042
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: January 27, 2021
RE: Presentation: Proposed FY 2022 Schedule of Service Charges
MOTION
Upon recommendation of Nicolette N. Bateson, Chief Financial Officer/Treasurer, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA), receives and files the Presentation related to the Proposed FY 2022 Schedule of Charges; and authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
The annual financial planning cycle encompasses development of the capital improvement plan, the ten-year financial forecast, the revenue requirement (in the form of a biennial budget), and the resulting schedule of service charges. The proposed budget and charges are linked as the budget is the basis for the charges. Accordingly, Agenda Item # 2021-042 for this meeting date of January 27, 2021 provides a combined presentation and support materials related to the proposed charges.
JUSTIFICATION
This year, the proposed charges were presented to member partners two weeks in advance of the historic schedule. This represents a meaningful schedule improvement and direct response to member partner feedback - both formally and informally. The outcome was more time for member partner engagement with both GLWA staff and the charges consultant from The Foster Group individually and in group settings. The shift in schedule is the result of business process improvements put into place by GLWA’s Financial Planning & Analysis team working in coordination with GLWA’s Public Finance team and charges consultant, The Foster Group. Attached is the annual FY 2022 Cost of Service Study and Service Charge Recommendations dated December 30, 2020 and Updated January 12, 2021 from The Foster Group. This report is support material for matters referenced in Agenda Item # 2021-042, Proposed FY 2022 and FY 2023 Biennial Budget Request.
BUDGET IMPACT
This action is a step toward establishment of service charges with an effective date of July 1, 2021.
COMMITTEE REVIEW
No further review is scheduled at the time of this Board letter was prepared.