Loading...
HomeMy WebLinkAboutID-2676-04-18-12-1 City of Palo Alto (ID # 2676) Finance Committee Staff Report Report Type: Meeting Date: 4/18/2012 April 18, 2012 Page 1 of 13 (ID # 2676) Summary Title: Water Utility Rate Adjustments Title: Staff and Utilities Advisory Commission Recommendations on Proposed Water Utility Rate Adjustments Effective July 1, 2012 From: City Manager Lead Department: Utilities Recommendation Staff recommends that the Finance Committee recommend that the City Council adopt a resolution (Attachment A) to: 1. Increase overall retail water rates and annual revenues for the Water Fund by 15.0 percent, or $4.7 million, effective July 1, 2012; and 2. Amend Utility Rate Schedules W-1, W-2, W-3, W-4, and W-7, as attached. The Utilities Advisory Commission recommends that Council: 1. Increase overall retail water rates and annual revenues for the Water Fund by 15% as recommended by staff. 2. Not change specific rates in such a way that undermines conservation pricing. 3. Amend the water utility rate schedules as recommended by staff except as follows: a. The volumetric charge for residential (W1 rates) tier 2 would remain at the current rate of $7.34 per ccf, not decrease to $7.06 per ccf as recommended by CPAU staff; and b. The amount of the increase in the volumetric charge for residential tier 1 would be recalculated and reduced so that the overall increase in volumetric charges for residential customers would increase by the amount recommended by staff, which is to the average rate of $6.04 per ccf. 4. Direct staff to investigate and make a recommendation on the apparent anomaly of charging master-metered multi-family buildings commercial rates for water. The rate changes will trigger the notice and protest hearing procedures under Proposition 218. April 18, 2012 Page 2 of 13 (ID # 2676) Executive Summary In March 2012, the Finance Committee reviewed the Water Fund’s long-term financial projections, which indicated that water rates needed to increase by 20% for Fiscal Year (FY) 2013. Since that report, the San Francisco Public Utilities Commission, the City’s wholesale water provider, lowered its wholesale rate increase projection for FY 2013. Based on the revised wholesale water rate projection, the required revenue increase for the Water Fund is 15% for FY 2013. The City engaged Raftelis Financial Consultants, Inc. (RFC) in November 2011 to review and update the Water Utility cost of service study. RFC reviewed updated utility costs and customer usage patterns and recommended rate changes to accurately align costs and revenues by customer class in compliance with Proposition 218. Staff’s proposed rate changes for FY 2013 reflect RFC’s recommendations as presented in the updated cost of service study. The UAC reviewed the water rate proposal on March 27 and were uncomfortable with the residential (W-1) rates staff recommended since they provide less incentive for water use efficiency for large water users and have a greater impact on small water users. The UAC voted to maintain the current W-1 tier 2 rate and to set the tier 1 rate to achieve the same revenue. Staff determined the volumetric W-1 rates that would be required to achieve the goals of the UAC. Table S-1 summarizes the differences between staff’s recommendation and the UAC’s recommendation for W-1 volumetric charges compared to current rates. Table S-2 shows the monthly bill impact of the alternative W-1 rate recommendations. Table S-1: Alternative W-1 Volumetric Charge Recommendations Rate Schedule W-1 Oct 1, 2011 Current Staff Recommend. UAC Recommend. Tier 1 0 - 6 ccf $3.60 $4.54 $4.11 Tier 2 over 6 ccf $7.34 $7.06 $7.34 Table S-2: Customer Monthly Bill Impact of Alternative W-1 Rate Recommendations Customer Usage (ccf) Oct 1, 2011 Current Staff Recommend. $ Diff Current vs. Staff Recommend. UAC Recommend. $ Diff Current vs. UAC Recommend Small User (5/8" Meter)7 $38.94 $48.04 $9.10 $45.74 $6.80 Median User (5/8" Meter)9 $53.62 $62.16 $8.54 $60.42 $6.80 Average User (5/8" Meter)14 $90.32 $97.46 $7.14 $97.12 $6.80 Large User (5/8" Meter)40 $281.16 $281.02 ($0.14)$287.96 $6.80 If approved by Council, the impact of staff’s proposed water rate adjustments will be an additional $8.54 on a typical residential customer’s monthly water utility bill. The impact on an individual customer will vary depending on customer class and individual customer water usage levels. April 18, 2012 Page 3 of 13 (ID # 2676) Background The Water Fund’s revenue requirement consists of a number of components including: water purchase costs, utility operations costs, Capital Improvement Program (CIP) projects, prudent funding of the Water Rate Stabilization Reserve (W-RSR), and debt service payments. Any change in one or more of these components, or a change in retail revenue levels, can trigger a change, up or down, to the revenue requirement. The last adjustment to Water Fund revenues was a 12.5%, or $3.4 million per year, increase for FY 2012. Since the rate changes did not go into effect until October 1, 2011 after the summer high water use season, the system average rate increase was 20.9%. The rate changes also included alignments based on the cost of service by customer class. Therefore, the average rate increases were 29.6% for residential customers (Rate Schedule W1), 4% for residential master-metered and general non-residential customers (Rate Schedule W4), and 60% for irrigation (Rate Schedule W7) accounts. Financial projections presented to the Finance Committee on March 6, 2012 showed a revenue requirement increase of 20%, or $6.3 million, for FY 2013 (Staff Report 2509) driven by the cost of water supplies. Since that time the San Francisco Public Utilities Commission (SFPUC) lowered its wholesale water rate increase projection from $3.44 per ccf for the high case scenario to $2.89 per ccf for July to December of FY 2013 with an option to raise it to $2.97 per ccf in January for FY 2013. The revenue requirement presented in this report reflects this revision and other known revisions to the Water Fund budget request for FY 2013. Discussion Financial Projections Table 1 below shows revised financial projections for the Water Fund for FY 2013 through FY 2017 as well as actual figures for FY 2011 and budgeted and projected figures for FY 2012. The total use of funds for the Water Fund is projected to increase from $35.8 million in FY 2012 to $45.9 million in FY 2017, an increase of $10.2 million. This increase is predominantly due to the water purchase cost that increases by $7.2 million during this period. For the budget year FY 2013, the Water Fund faces increases of $1.0 million in wholesale water purchase costs, $0.8 million in operations costs and $1.6 million in CIP. Additionally, water sales are expected to decrease by 2.2% from their expected levels of 5,107,000 hundred cubic feet (ccf) in FY 2012 to 4,997,000 ccf in FY 2013. April 18, 2012 Page 4 of 13 (ID # 2676) Table 1: Water Utility Financial Projections $(000')s Adopted Actual Adopted Projected 2011 2011 2012 2012 2013 2014 2015 2016 2017 1 % CHANGE IN RETAIL RATE 0.0%0.0%12.5%20.8%15.0%15.0%9.0%3.0%2.0% 2 PROJECTED SYSTEM AVERAGE RATE ($/CCF)5.21 5.21 5.86 6.30 7.24 8.33 9.08 9.35 9.54 3 PROJECTED COMMODITY COST ($/CCF)2.00 1.96 2.74 2.69 2.93 3.31 3.86 4.16 4.58 4 SALES UNITS (THOUSAND CCFs)5,504 4,992 5,256 5,107 4,997 4,823 4,655 4,548 4,498 5 PROJECTED CHANGE IN RETAIL SALES REVENUE 0 0 3,422 3,328 4,719 5,238 3,488 1,238 841 6 REVENUE 7 Utilities Retail Sales 28,658 26,033 30,652 29,817 35,983 39,938 42,100 42,464 42,855 8 Service Connection & Capacity Fees 692 1,146 700 700 776 785 795 750 771 9 Other Revenues plus Transfers In 916 1,040 873 873 866 856 845 832 819 10 Interest & Gain or Loss on Investment 1,050 181 971 971 613 660 759 634 587 11 Sub Total 31,316 28,400 33,196 32,360 38,238 42,239 44,499 44,680 45,032 12 CIP Bond Proceeds / Reserve 3,500 3,500 0 0 0 0 0 0 0 13 Total Sources of Funds 34,816 31,900 33,196 32,360 38,238 42,239 44,499 44,680 45,032 14 OPERATING EXPENSE 15 Water Supply Purhcases 12,043 10,678 15,774 14,961 15,940 17,390 19,582 20,626 22,460 16 Operations 10,721 9,278 10,956 10,956 11,779 12,014 12,255 12,500 12,750 17 Debt Service & Other Related 2,981 3,885 3,338 3,338 3,219 3,220 3,219 3,223 3,219 18 Rent 2,107 2,107 2,142 2,142 2,185 2,228 2,273 2,318 2,365 19 CIP (Non-Bonded)5,348 5,348 4,369 4,369 6,000 9,813 6,794 5,189 5,151 20 Sub Total 33,201 31,297 36,578 35,765 39,123 44,666 44,122 43,856 45,946 21 CIP (Bonded)3,500 3,500 0 0 0 0 0 0 0 22 Total Uses of Funds 36,701 34,797 36,578 35,765 39,123 44,666 44,122 43,856 45,946 23 24 Into/ (Out of) Reserves (1,885)(2,897)(3,382)(3,405)(885)(2,426)376 825 (914) 25 26 Ending Rate Stabilization Reserve 10,851 10,639 7,257 9,529 8,645 6,218 6,595 7,419 6,506 27 Ending Plant Replacement Reserve 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 28 Ending Debt Service Reserve 3,347 3,347 3,347 3,347 3,347 3,347 3,347 3,347 3,347 29 Ending Commitments and Reappropriations 13,873 30 31 Short Term Assessment of Risks 4,168 4,168 4,169 4,169 4,972 5,834 5,794 5,678 5,722 32 Rate Stabilization Guidelines 33 Miniumum 4,300 3,904 4,619 4,493 5,427 6,024 6,337 6,377 6,434 34 Maximum 8,600 7,808 9,238 8,987 10,854 12,047 12,674 12,755 12,867 35 Fiscal Year City of Palo Alto Water Utility FINANCIAL PROJECTIONS Updated as of March 2012 (FY 2013 - FY 2017) Revenue Requirement The revenue requirement of the Water Fund is the total amount of revenue it must collect in order to meet its operations and maintenance (O&M) expenses, debt service payments, rate- financed CIP expenditures and reserve requirements. This revenue is collected through water rates, and may be supplemented by revenues from service connection and capacity fees, interest income, transfers in from other funds, and other miscellaneous revenues. The Water Fund is expected to have revenue shortfalls of $3.4 million and $5.6 million in FY 2012 and FY 2013, respectively. Due to healthy reserve levels and the proposed revenue increase of $4.7 million in FY 2013, it is expected that reserve drawdowns of $3.4 million and $0.9 million in FY 2012 and FY 2013, respectively, will be made. April 18, 2012 Page 5 of 13 (ID # 2676) Reserves and Risk Assessment The City Council establishes guidelines for the W-RSR. As required by the reserve guidelines, staff performs an assessment of short-term risks for the fund on an annual basis. Table 2 below summarizes the end-of-year balances for the W-RSR, the short-term risk assessment level and the long-term reserve guideline levels. The long-term reserve guidelines were established to manage risks over the longer term. The short-term risk assessment level was provided to the Finance Committee as part of the Water Fund’s financial forecast in March 2012. Staff does not recommend any changes to the W-RSR guideline levels at this time. Table 2: Water RSR Balance, Guideline Levels and Risk Assessment Level ($M) Wastewater Rate Stabilization Reserve FY 2012 FY 2013 FY 2014 Estimated End of Year Balance 9.5 8.6 6.2 Risk Assessment Level 4.2 5.0 5.8 Reserve Minimum Level 4.5 5.4 6.0 Reserve Maximum Level 9.0 10.9 12.0 The W-RSR ended FY 2011 with a balance of $10.6 million. The expected balance at the end of FY 2012 of $9.5 million is above the long-term maximum guideline level. For FY 2013, with the proposed 15% revenue increase, the balance is projected to be within the long-term minimum and maximum guidelines. Water Utility Customer Profile and Revenue Collection The City of Palo Alto’s Water Utility has approximately 20,000 water service accounts. Table 3 provides the distribution of accounts by customer segment and meter size. Table 3: Number of Accounts (FY 2012) Meter Size Residential W1 Master MFR/ Commercial W4 Irrigation W7 Private Fire Protection W3 Total 5/8” 13,771 1,060 53 0 14,884 3/4” 489 79 6 0 574 1” 1,948 581 75 0 2,608 1 1/2” 181 370 62 0 613 2” 73 606 111 0 790 3” 1 79 13 0 93 4” 1 50 6 226 283 6” 0 22 1 217 240 8” 0 12 1 134 147 10” 0 0 0 7 7 Total 16,464 2,859 328 584 20,235 % Share 81% 14% 2% 3% 100% April 18, 2012 Page 6 of 13 (ID # 2676) Table 4 provides the distribution of revenue by rate schedule and rate component. While approximately 81% of customer accounts fall into the residential classification (W-1 rate schedule), these customers represent 51% of revenues. The remaining 49% of revenues are collected from master-metered multi-family and commercial customers (W4 rate schedule) and irrigation accounts (W-7 rate schedule) with a small amount collected from fire service accounts (W-3 rate schedule). Currently, about 10% of retail rate revenue is collected through the fixed monthly service charges and 90% through volumetric charges. Table 4: Sales Revenue (FY 2012) Revenue Source Residential Master MFR/ Commercial Irrigation Private Fire Protection Total W1 W4 W7 W3 Service Charge 2,052,091$ 1,077,680$ 136,090$ 124,370$ 3,390,231$ Volumetric Charge 13,730,818$ 11,099,433$ 2,573,090$ -$ 27,403,340$ Total Revenue 15,782,909$ 12,177,112$ 2,709,180$ 124,370$ 30,793,571$ Cost of Service Analysis (COSA) The City hired Raftelis Financial Consultants, Inc. to conduct a cost of service analysis utilizing the most recent data available for customer water usage (FY 2011) and associated costs for the Water Fund. The analysis included a review of utility financial data, customer class load profiles and the specific costs associated with providing utility services. The study was conducted based on industry-recognized procedures involving the functional classification of utility assets and expenses, and allocation of costs to customer classes based on the cost to provide the service. Specific customer class attributes included quantity of service and resource consumed; variability of use during the year; and peak demands created on the system by each class. The results of the study indicate that adjustments to rate schedules are required to accurately align future revenues collected from each customer class with the costs attributable to serving that class. The cost of service and rate study report is provided in Attachment D. Summary results are presented in the following sections. The proposed adjustment to water rates is consistent with the COSA results. Current Rate Schedules and Recommended COSA Alignments The study compared required revenue collection based on cost of service and revenue collection under current rate schedules. The results are presented in Table 5. The column entitled “Difference” indicates the required rate adjustment by customer class with an overall revenue increase of 15%. April 18, 2012 Page 7 of 13 (ID # 2676) Table 5: Required Revenue Collection based on COSA versus Current Rates (FY 2013) Customer Class COS Current Difference Residential - W1 $17,927,525 $15,869,347 13% Master MFR/Commercial - W4 $14,112,793 $11,610,894 22% Irrigation - W7 $3,251,807 $3,420,794 -5% Fire Service - W3 $387,091 $124,370 211% TOTAL $35,679,215 $31,025,405 15% Current water rates consist of two components: a commodity rate (volumetric rate) and a monthly fixed service charge (meter charge). The monthly service charge varies by meter size and the volumetric rate varies for residential customers based on usage tier. The residential volumetric rates are also referred to as “inverted block rates” where usage in the first tier has a lower rate than usage in the second tier. For non-residential accounts a single volumetric rate is used. The Tier 1 usage block for residential accounts is defined as 0.2 ccf per day or, for a 30- day billing period, 6 ccf per month. Usage over 6 ccf per month falls into Tier 2. Table 6 shows current and proposed water rates based on COSA results. April 18, 2012 Page 8 of 13 (ID # 2676) Table 6: Current and Proposed Water Rates (W1, W3, W4 and W7 Rate Schedules) General Monthly Meter Service Charge Meter Size Effective Oct 1, 2011 July 1, 2012 5/8"$10.00 $13.74 3/4"$10.00 $18.28 1"$13.00 $27.35 1 1/2"$27.00 $50.03 2"$43.00 $77.25 3"$114.00 $163.44 4"$195.00 $290.46 6"$406.00 $594.39 8"$644.00 $1,093.39 10"$644.00 $1,728.48 Monthly Fire Meter Service Charge Meter Size Effective Oct 1, 2011 July 1, 2012 2"$3.63 $3.30 3"$0.00 $9.59 4"$7.27 $20.44 6"$16.13 $59.38 8"$28.53 $126.54 10"$44.48 $227.56 Commodity Rate ($/ccf) Effective Oct 1, 2011 July 1, 2012 Residential - W1 Tier 1 0 - 6 ccf $3.60 $4.54 Tier 2 over 6 ccf $7.34 $7.06 Master MFR/Commercial - W4 $4.93 $5.75 Irrigation - W7 $7.86 $7.19 Fire Service - W3 $10.00 $10.00 Additionally, the commodity rate for Utility Rate Schedule W-2 (Water Service from Fire Hydrants) is proposed to be adjusted by the same adjustment required for the commodity rate applicable for W-4. This schedule applies to all water taken from fire hydrants for construction, maintenance, and other uses in conformance with provisions of a Hydrant Meter Permit. Note that the proposed service charges are increased from current rates. For the typical residential customer on Rate Schedule W-1 with a 5/8 inch meter, the service charge is increased by 37.4%. As a result of the proposed changes to water rate schedules, revenue collection through the fixed service charges would increase from 10% currently to 15% in FY 2013. This falls well within the California Urban Water Conservation Council (CUWCC) guideline of keeping fixed costs at less than 30% of the total revenue requirement, in support of water conservation objectives. Even with the proposed increase in the fixed charge, the proposed rates offer substantial incentives for residential customers to reduce water use. April 18, 2012 Page 9 of 13 (ID # 2676) For residential customers on Rate Schedule W-1, the proposed COSA volumetric rate for Tier 1 is increased by 26% while the volumetric rate for Tier 2 is decreased by 3.8%. The differential in the rates for the tiers is reduced based on the COSA study. The volumetric rates for irrigation customers (Rate Schedule W-7) are reduced by 8.5% to align with the COSA results. As part of the cost of service study update, the consultant reviewed costs pertaining to servicing customers in the hilly parts of the City’s service area and found that there were additional costs to pump water up to the customers and storage reservoirs in the foothills, but that the foothills reservoirs provided water storage and fire fighting reserves for all customers in the City and were not just for the customers who reside in the foothills. Due to the design of the water distribution system and the use of the foothills reservoirs, and since the pumping costs would have to be incurred for all customers, the consultant concluded that there were no significant additional costs identified to serve the customers in the foothills and, therefore, there was no justification for imposing different rates for customers in these areas. The consultant also examined using a different commodity rate structure for master-metered Multi Family Residential (MFR) customers. Unlike individually-metered MFR customers that are on the W-1 rate schedule, which has a tiered volumetric rate structure, master-metered MFR customers are currently on rate schedule W-4, which has a uniform volumetric rate structure. The consultant reviewed whether keeping these customers on the W-4 rate schedule met cost of service principles, or whether a shift to a tiered rate schedule was a more equitable fit. The consultant recommended retaining these customers on the W-4 rate schedule because master- metered MFR customers have peaking factors similar to the commercial class as a whole, master-metered customers have a larger irrigation variance, and price signals for these customers are less effective for conservation. Customer Bill Impact of Proposed Rate Changes Table 7 below shows the impact of the proposed rate increase on customer bills based on consumption level for the residential and commercial classes. April 18, 2012 Page 10 of 13 (ID # 2676) Table 7: Impact of Proposed Rate Increase on Monthly Customer Bills Customer Monthly Usage (CCF) Current Monthly Bill ($) Proposed Monthly Bill ($) Amount of Proposed Increase ($) Percent Increase (Decrease) Small Residential (5/8” Meter) 7 38.94 48.04 9.10 23.4% Median Residential (5/8” Meter) 9 53.62 62.16 8.54 15.9% Average Residential (5/8” Meter) 14 90.32 97.46 7.14 7.9% Large Residential (5/8” Meter) 40 281.16 281.02 -0.14 (0%) Medium Commercial (3" Meter) 300 1,593.00 1,888.44 295.44 18.5% Large Commercial or Industrial (6" Meter) 1200 6,322.00 7494.39 1,172.39 18.5% Large Commercial or Industrial (6" Meter) (irrigation only) (W-7) 3000 23,986.00 22,164.39 -1,821.61 (7.6%) Comparison of Palo Alto Water Rates and Surrounding Cities For several years, Palo Alto's retail water rates have generally been higher than those in surrounding areas. Staff initiated a Benchmark Study for the Water Utility in May 2010 and presented its findings to the UAC in October 2010 and to the Finance Committee in November 2010. The objective of the study was to develop benchmarks and to provide insight as to the main reasons for the higher water rates in Palo Alto. The findings of this study highlighted some key areas such as more spending by Palo Alto for replacement of aging infrastructure; lack of access to lower cost water supply; more expensive service terrain to serve; higher quality of service; and higher rent payment for its use of real estate in the service territory. Table 8 below, which compares monthly water bills using municipal water rates as of January 1, 2012 for Mountain View, Redwood City, Los Altos, Hayward, Santa Clara and Menlo Park, indicates that the median residential customer in surrounding cities pays approximately 23 percent less than the average Palo Alto residential customer. The residential bill comparison with the average benchmark city is seven percentage points lower this year compared to the same period a year ago as other cities facing similar cost increases have begun raising their water rates as well. There are indications that nearby cities that purchase water supplies from the SFPUC1 will continue to raise rates in FY 2013. At this time, the certainty or magnitude of their rate increases is not known. 1 Based on the FY 2010 BAWSCA survey, the share of SFPUC as source of potable water supply was 91% for Menlo Park, 100% for Redwood City, 85% for Mountain View, and 11% for Santa Clara. April 18, 2012 Page 11 of 13 (ID # 2676) Table 8: Monthly Residential Water Bill Comparison Residential Monthly Water Bill ($/month) Based on Rates in Effect as of January 1, 2012 Season Usage CCF/mo Palo Alto Menlo Park * Redwood City Mountain View Los Altos Santa Clara Hayward Summer 7 38.94 48.12 39.38 29.05 34.35 20.93 32.10 14 90.32 83.65 65.79 57.68 56.67 41.86 60.00 40 281.16 223.56 240.42 224.47 150.17 119.60 182.35 Median 9 53.62 57.94 46.02 37.23 40.51 26.91 39.50 Winter 4 24.40 33.39 30.12 16.78 25.13 11.96 22.20 10 60.96 62.85 49.34 41.32 43.58 29.90 43.60 25 171.06 140.83 125.52 102.67 92.65 74.75 105.10 * Menlo Park rates based on California Water Service’s Bear Gulch District Proposition 218 Water Rate Increase Procedure In addition to setting forth substantive requirements that certain types of utility rates, or “property-related fees”, be cost of service-based, Proposition 218 set forth procedural requirements that public agencies must follow in order to enact or increase a property-related fee. Since Proposition 218 applies to the water rate increases described here, the City must provide written notice by mail to water customers subject to the proposed fees, followed by a public hearing held not less than 45 days after notice is mailed. The notice must include the amount of the fee, the basis upon which the fee was calculated, the reason for the fee, and the date, time and location of the public hearing. If a majority of customers submit written protests against the proposed fees, the City may not impose the fee. Possibility of Water Use Restrictions due to Water Shortage In the event of a water shortage, the SFPUC will declare a water shortage emergency and impose mandatory water use reductions. If this action is taken, then staff will return to the Council with an updated proposal for a rate adjustment and water rate schedules. Staff does not expect a water supply shortage to be declared for FY 2013 at this time. Commission Review and Recommendation The Utilities Advisory Commission (UAC) reviewed the proposed water revenue increase at its meeting on March 27, 2012. The UAC spent considerable time discussing the proposal and the cost of service study results. The majority of the UAC felt that the recommended change to the residential (W-1) rates reduced the incentive to conserve water and, therefore, recommended that the proposed rates should be modified so that the bill impact would be reduced for small water users and increased for large water users. The UAC’s motion was to recommend that Council approve the W-2, W-3, W-4, and W-7 rates as recommended by staff, but modify the W-1 rates in a revenue neutral way. Specifically, the UAC proposed keeping the current tier 2 rate at $7.34/ccf and reducing the proposed tier 1 rate to a level that would create the same amount of revenue as calculated by the cost of April 18, 2012 Page 12 of 13 (ID # 2676) service study for the W-1 rate class. The UAC accepted the proposed fixed meter charge increase as recommended by staff. The motion passed by a 5-1 vote with Commissioner Waldfogel opposed as he indicated he was uncomfortable with deviating from the cost of service study results. Tables 9 and 10 summarize the differences between staff’s recommendation and UAC’s recommendation for W-1 volumetric charges compared to current rates, and residential monthly bill impact of the alternative W-1 rate recommendations, respectively. Table 9: Alternative W-1 Volumetric Charge Recommendations Volumetric Rate ($/ccf) Rate Schedule W-1 Current Rates Staff Recommendation UAC Recommendation Tier 1: 0-6 ccf $3.60 $4.54 $4.11 Tier 2: over 6 ccf $7.34 $7.06 $7.34 Table 10: Residential Monthly Bill Impact of Alternative W-1 Rate Recommendations Customer (5/8” meters) Usage (ccf/mo) Current Rates ($/month) Staff Recommend. ($/month) Current vs. Staff Recommend. ($/month) UAC Recommend. ($/month) Current vs. UAC Recommend. ($/month) Small User 7 $38.94 $48.04 $9.10 $45.74 $6.80 Median User 9 $53.62 $62.16 $8.54 $60.42 $6.80 Average User 14 $90.32 $97.46 $7.14 $97.12 $6.80 Large User 40 $281.16 $281.02 (0.14) $287.96 $6.80 In addition, the UAC voted unanimously to recommend Council direct staff to investigate the issue of master-metered multi-family homes being on the commercial (W-4) rate and not being able to pay the lower tier 1 residential (W-1) rate since their water use is per dwelling is low enough for each dwelling to fall into the first usage tier under W-1. The draft notes from the UAC’s March 27, 2012 are provided in Attachment E. Resource Impact Approval of this rate proposal will increase the Water Fund retail sales revenues by approximately $4.7 million for FY 2013. Policy Implications This recommendation does not represent a change to current City policies. Environmental Review The restructuring of wastewater rates to meet operating expenses and financial reserve needs is not subject to the California Environmental Quality Act (CEQA), pursuant to California Public Resources Code Sec. 21080(b)(8) and Title 14 of the California Code of Regulations Sec. April 18, 2012 Page 13 of 13 (ID # 2676) 15273(a)(1-4) (modification of rates for the purpose of meeting operating expenses, purchasing supplies, equipment or materials, meeting financial reserve needs and requirements and obtaining funds for capital projects necessary to maintain service within existing service areas.). Attachments: Attachment A: Draft Resolution for Water Rates Effective July 1, 2012 (PDF) Attachment B: Updated Water Utility Financial Projections (FY 2012-FY 2017) (PDF) Attachment C: Utility Rate Schedules W-1, W-2, W-3, W-4, and W-7 (PDF) Attachment D: Water Utility Cost of Service and Rate Study (FY 2013) (PDF) Attachment E: Excerpted draft minutes of the March 27, 2012 UAC meeting (PDF) 3-6-12 FIN Water Fund Excerpt (DOC) Prepared By: Ipek Connolly, Sr. Resource Planner Department Head: Valerie Fong, Director City Manager Approval: ____________________________________ James Keene, City Manager *NOT YET APPROVED* 120403 dm 6051693 ATTACHMENT A Resolution No. _________ Resolution of the Council of the City of Palo Alto Adopting a Water Rate Increase and Amending Utility Rate Schedules W-1, W-2, W-3, W-4 and W-7 WHEREAS, pursuant to Chapter 12.20.010 of the Palo Alto Municipal Code, the Council of the City of Palo Alto may by resolution adopt rules and regulations governing utility services, fees and charges; and WHEREAS, pursuant to Article XIIID Sec. 6 of the California Constitution, on June _, 2012, the City of Palo Alto held a public hearing to consider all protests against the proposed water rate amendments; and WHEREAS, the total number of written protests presented by the close of the public hearing was less than fifty percent (50%) of the total number of customers and property owners subject to the proposed water rate amendments; NOW, THEREFORE, the Council of the City of Palo Alto does hereby RESOLVE as follows: SECTION 1. Pursuant to Section 12.20.010 of the Palo Alto Municipal Code, Utility Rate Schedule W-1 (General Residential Water Service) is hereby amended to read in accordance with sheets W-1-1 and W-1-2, attached and incorporated. Utility Rate Schedule W-1, as amended, shall become effective July 1, 2012. SECTION 2. Pursuant to Section 12.20.010 of the Palo Alto Municipal Code, Utility Rate Schedule W-2 (Water Service from Fire Hydrants) is hereby amended to read in accordance with sheet W-2-1, attached and incorporated. Utility Rate Schedule W-2, as amended, shall become effective July 1, 2012. SECTION 3. Pursuant to Section 12.20.010 of the Palo Alto Municipal Code, Utility Rate Schedule W-3 (Fire Service Connections) is hereby amended to read in accordance with sheets W-3-1 and W-3-2, attached and incorporated. Utility Rate Schedule W-3, as amended, shall become effective July 1, 2012. SECTION 4. Pursuant to Section 12.20.010 of the Palo Alto Municipal Code, Utility Rate Schedule W-4 (Residential Master-Metered and General Non-Residential Water Service) is hereby amended to read in accordance with sheets W-4-1 and W-4-2, attached and incorporated. Utility Rate Schedule W-4, as amended, shall become effective July 1, 2012. SECTION 5. Pursuant to Section 12.20.010 of the Palo Alto Municipal Code, Utility Rate Schedule W-7 (Non-Residential Irrigation Water Service) is hereby amended to read in accordance with sheets W-7-1 and W-7-2, attached and incorporated. Utility Rate Schedule W-7, as amended, shall become effective July 1, 2012. *NOT YET APPROVED* 120403 dm 6051693 SECTION 6. The Council finds that the revenue derived from the authorized adoption enumerated herein shall be used only for the purpose set forth in Article VII, Section 2, of the Charter of the City of Palo Alto. SECTION 7. The Council finds that a restructuring of water rates to meet operating expenses, purchase supplies and materials, meet financial reserve needs and obtain funds for capital improvements necessary to maintain service is not subject to the California Environmental Quality Act (CEQA), pursuant to California Public Resources Code Sec. 21080(b)(8) and Title 14 of the California Code of Regulations Sec. 15273(a). After reviewing the water rates cost of service study and staff reports presented to the Utilities Advisory Commission, the Finance Committee and Council, the Council incorporates these documents herein and finds that sufficient evidence has been presented setting forth with specificity the basis for this claim of CEQA exemption. INTRODUCED AND PASSED: AYES: NOES: ABSENT: ABSTENTIONS: ATTEST: ___________________________ ___________________________ City Clerk Mayor APPROVED AS TO FORM: APPROVED: ___________________________ ___________________________ Sr. Deputy City Attorney City Manager ___________________________ Director of Utilities ___________________________ Director of Administrative Services $('000) Adopted Actual Adopted Projected 2011 2011 2012 2012 2013 2014 2015 2016 2017 1 % CHANGE IN RETAIL RATE 0.0%0.0%12.5%20.8%15.0%15.0%9.0%3.0%2.0% 2 SYSTEM AVERAGE RATE ($/CCF)5.21 5.21 5.86 6.30 7.24 8.33 9.08 9.35 9.54 3 SALES UNITS (CCFs)5,504 4,992 5,256 5,107 4,997 4,823 4,655 4,548 4,498 4 WATER UTILITY REVENUE 5 SALES REVENUE:28,666 26,027 27,373 26,627 31,461 34,919 38,757 41,278 42,049 6 RATE ADJUSTMENT 0 0 3,422 3,328 4,719 5,238 3,488 1,238 841 7 PRORATION IMPACT 0 0 (143)(139)(197)(218)(145)(52)(35) 8 TOTAL ADJUSTED SALES 28,666 26,027 30,652 29,817 35,983 39,938 42,100 42,464 42,855 9 INTEREST 1,050 181 971 971 613 660 759 634 587 10 OTHER REVENUE 908 1,046 873 873 866 856 845 832 819 11 CONNECTION & CAPACITY FEES 692 1,146 700 700 776 785 795 750 771 12 FROM RESERVES: 13 RATE STABILIZATION 1,885 2,897 3,382 1,110 885 2,426 0 0 914 14 CIP BOND PROCEEDS 3,500 3,500 0 0 0 0 0 0 15 COMMITMENTS & REAPPROPRIATIONS 0 0 0 2,295 0 0 0 0 0 16 TOTAL FINANCIAL RESOURCES 36,701 34,797 36,578 35,765 39,123 44,666 44,499 44,680 45,946 17 OPERATING EXPENSES 18 RESOURCE MANAGEMENT & ADMIN 660 576 667 667 680 694 708 722 737 19 PURCHASES 12,043 10,678 15,774 14,961 15,940 17,390 19,582 20,626 22,460 20 CUSTOMER DESIGN & CONN. (CIP)410 410 420 420 430 440 450 460 473 21 SYSTEM IMPROVEMENT(CIP) - Nonbond 4,938 4,938 3,949 3,949 5,570 9,373 6,344 4,729 4,678 22 SYSTEM IMPROVEMENT(CIP) - Bond 3,500 3,500 0 0 0 0 0 0 0 23 ALLOCATED ADMIN & OVERHEAD 2,675 1,799 2,524 2,524 2,621 2,673 2,727 2,781 2,837 24 ENGINEERING SUPPORT & ADMIN 940 1,155 983 983 1,051 1,072 1,093 1,115 1,137 25 WATER OPERATIONS 4,335 3,993 4,862 4,862 5,419 5,527 5,638 5,750 5,865 26 CUSTOMER SERVICE & ADMIN 600 648 662 662 675 688 702 716 731 Fiscal Year R E V E N U E S E X P E N S FINANCIAL PROJECTIONS (BASE CASE) (FY 2013 - FY 2017) City of Palo AltoWater Utility 27 METER READING 242 246 261 261 266 272 277 283 288 28 BILLING AND COLLECTIONS 248 229 256 256 261 267 272 277 283 29 WATER DEMAND SIDE MANAGEMENT 580 354 636 636 700 714 728 742 757 30 DEBT SERVICE & RELATED 2,981 3,885 3,338 3,338 3,219 3,220 3,219 3,223 3,219 32 RENT 2,107 2,107 2,142 2,142 2,185 2,228 2,273 2,318 2,365 33 TRANSFERS OUT 442 280 104 104 106 108 110 112 115 34 TOTAL OPERATING EXPENSES 36,701 34,797 36,578 35,765 39,123 44,666 44,122 43,856 45,946 35 RESERVE ADDITIONS: 36 PLANT REPLACEMENT 0 0 0 0 0 0 0 0 0 37 RATE STABILIZATION 0 0 0 0 0 0 376 825 0 38 DEBT SERVICE RESERVE 0 0 0 0 0 0 0 0 0 39 TOTAL RESERVE ADDITIONS:0 0 0 0 0 0 376 825 0 40 TOTAL REVENUE REQUIREMENT 36,701 34,797 36,578 35,765 39,123 44,666 44,499 44,680 45,946 41 RESERVES BALANCES 42 PLANT REPLACEMENT 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 43 RATE STABILIZATION 10,851 10,639 7,257 9,529 8,645 6,218 6,595 7,419 6,506 44 CIP DEBT SERVICE 3,347 3,347 3,347 3,347 3,347 3,347 3,347 3,347 3,347 45 TOTAL RESERVES BALANCES 15,198 14,986 11,604 13,877 12,992 10,566 10,942 11,767 10,85346 47 COMMITMENTS & REAPPROPRIATIONS 13,873 48 RATE STABILIZATION RESERVES GUIDELINES 49 50 Short Term Risk Assessment Value 4,168 4,168 4,169 4,169 4,972 5,834 5,794 5,678 5,722 51 Long Term Rate Stabilization Guidelines 52 RSR Minimum 4,300 3,904 4,619 4,493 5,427 6,024 6,337 6,377 6,434 53 RSR Maximum 8,600 7,808 9,238 8,987 10,854 12,047 12,674 12,755 12,867 54 2011 2012 2013 2014 2015 2016 2017WATER R E S E R V E S S E S ߬¬¿½¸³»²¬Þ GENERAL RESIDENTIAL WATER SERVICE UTILITY RATE SCHEDULE W-1 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20112012 Supersedes Sheet No W-1-1 dated 710-1-200911 Sheet No W-1-1 A. APPLICABILITY: This schedule applies to all separately metered single family residential water services. B. TERRITORY: This schedule applies everywhere the City of Palo Alto provides water services. C. RATES: Per Meter Monthly Customer Service Charge: Per Month For 5/8-inch meter .................................................................................................... $ 10.0013.74 For 3/4 inch meter ..................................................................................................... 10.0018.28 For 1 inch meter ........................................................................................................ 13.0027.35 For 1 1/2 inch meter .................................................................................................. 27.0050.03 For 2-inch meter ........................................................................................................ 43.0077.25 For 3-inch meter ........................................................................................................ 114.00163.44 For 4-inch meter ........................................................................................................ 195.00290.46 For 6-inch meter ........................................................................................................ 406.00594.39 For 8-inch meter ........................................................................................................644.001,093.39 For 10-inch meter ......................................................................................................644.001,728.48 Commodity Rate: (To be added to ServiceCustomer Charge and applicable to all pressure zones.) Per Hundred Cubic Feet (ccf) Per Month All Pressure Zones Tier 1 usage ........................................................................................................................$3.604.54 Tier 2 usage (All usage over 100% of Tier 1).......................................................................7.347.06 Temporary unmetered service to residential subdivision developers, per connection ........................................................................ $6.00 GENERAL RESIDENTIAL WATER SERVICE UTILITY RATE SCHEDULE W-1 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20112012 Supersedes Sheet No W-1-2 dated 710-1-200911 Sheet No W-1-2 D. SPECIAL NOTES: 1. Calculation of Cost Components The actual bill amount is calculated based on the applicable rates in Section C above and adjusted for any applicable discounts, surcharges and/or taxes. On a customer’s bill statement, the bill amount may be broken down into appropriate components as calculated under Section C. 2. Calculation of Usage Tiers Tier 1 water usage shall be calculated and billed based upon a level of 0.2 ccf per day rounded to the nearest whole ccf, based on meter reading days of service. As an example, for a 30 day bill, the Tier 1 level would be 0 through 6 ccf. For further discussion of bill calculation and proration, refer to Rule and Regulation 11. {End} WATER SERVICE FROM FIRE HYDRANTS UTILITY RATE SCHEDULE W-2 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 7-1-200912 Supersedes Sheet No W-2-1 dated 117-1-2009 Sheet No W-2-1 A. APPLICABILITY: This schedule applies to all water taken from fire hydrants for construction, maintenance, and other uses in conformance with provisions of a Hydrant Meter Permit. B. TERRITORY: This schedule applies everywhere the City of Palo Alto provides water services. C. RATES: 1. Monthly Customer Service Charge. METER SIZE 5/8 inch ........................................................................................................................... 50.00 3 inch ........................................................................................................................... 125.00 2. Commodity Rate: (per hundred cubic feet) ................................................................$4.9465.75 D. SPECIAL NOTES: 1. Monthly charges shall include the applicable monthly customer service charge in addition to usage billed at the commodity rate. 2. Any applicant using a hydrant without obtaining a Hydrant Meter Permit or any permittee using a hydrant without a Hydrant Meter Permit shall pay a fee of $50.00 for each day of such use in addition to all other costs and fees provided in this schedule. A hydrant permit may be denied or revoked for failure to pay such fee. 3. A meter deposit of $750.00 may be charged any applicant for a Hydrant Meter Permit as a prerequisite to the issuance of a permit and meter(s). A charge of $50.00 per day will be added for delinquent return of hydrant meters. A fee will be charged for any meter returned with missing or damaged parts. 4. Any person or company using a fire hydrant as described in D.2 aboveimproperly or without a permit, or who draws water from a hydrant without a meter installed and properly recording usage shall, in addition to all other applicable charges be subject to criminal prosecution pursuant to the Palo Alto Municipal Code. {End} FIRE SERVICE CONNECTIONS UTILITY RATE SCHEDULE W-3 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20121 Supersedes Sheet No W-3-1 dated 1110-1-200811 Sheet No W-3-1 A. APPLICABILITY: This schedule applies to all public fire hydrants and private fire service connections. B. TERRITORY: This schedule applies everywhere the City of Palo Alto provides water services. C. RATES: 1. Monthly Service Charges Public Fire Hydrant.................................................................................................... $5.00 Private Fire Service: 2-inch connection.......................................................................................................$3.633.30 4-inch connection.......................................................................................................7.2720.44 6-inch connection....................................................................................................... 16.1359.38 8-inch connection.......................................................................................................28.53126.54 10-inch connection.....................................................................................................44.48227.56 2. Commodity (To be added to Service Charge unless water is used for fire extinguishing or testing purposes.) Per Hundred Cubic Feet All water usage.......................................................................................................... $10.00 D. SPECIAL NOTES: 1. Service under this schedule may be discontinued if water is used for any purpose other than fire extinguishing or testing and repairing the fire extinguishing facilities. Such water usedUsing hydrants and fire services for other purposes is illegal and will be subject to the commodity charge as noted above, and fines, and criminal prosecution pursuant to the Palo Alto Municipal Code. 2. No commodity charge will apply for water used for fire extinguishing purposes. 32. For a combination water and fire service, the general water service schedule shall apply. FIRE SERVICE CONNECTIONS UTILITY RATE SCHEDULE W-3 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20121 Supersedes Sheet No W-3-2 dated 1110-1-200811 Sheet No W-3-2 43. Utilities Rule and Regulation No. 21 provides additional information on Automatic Fire Services. 54. Repairs and testing of fire extinguishing facilities are not considered unauthorized use of water if records and documentation are supplied by the customer. 6.Unauthorized use of water which is unrelated to fire protection is subject to criminal prosecution pursuant to the Palo Alto Municipal Code. {End} RESIDENTIAL MASTER-METERED AND GENERAL NON-RESIDENTIAL WATER SERVICE UTILITY RATE SCHEDULE W-4 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20121 Supersedes Sheet No W-4-1 dated 710-1-200911 Sheet No W-4-1 A. APPLICABILITY: This schedule applies to non-residential water service in the City of Palo Alto and its distribution area. This schedule is also applicable to multi-family residential customers served through a master meter. B. TERRITORY: This schedule applies everywhere the City of Palo Alto provides water services. C. RATES: Per Meter Monthly Customer Service Charge Per Month For 5/8-inch meter ....................................................................................$ 10.0013.74 For 3/4-inch meter .................................................................................... 10.0018.28 For 1-inch meter .................................................................................... 13.0027.35 For 1 ½-inch meter .................................................................................... 27.00 50.03 For 2-inch meter .................................................................................... 43.00 77.25 For 3-inch meter .................................................................................... 114.00163.44 For 4-inch meter .................................................................................... 195.00290.46 For 6-inch meter .................................................................................... 406.00594.39 For 8-inch meter ....................................................................................644.001,093.39 For 10-inch meter ....................................................................................644.001,728.48 Commodity Rates: (to be added to Customer Service Charge) Per Hundred Cubic Feet (ccf) Per Month All Pressure Zones Per ccf ............................................................................................................ $4.93 5.75 RESIDENTIAL MASTER-METERED AND GENERAL NON-RESIDENTIAL WATER SERVICE UTILITY RATE SCHEDULE W-4 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20121 Supersedes Sheet No W-4-2 dated 710-1-200911 Sheet No W-4-2 D. SPECIAL NOTES: 1. Calculation of Cost Components The actual bill amount is calculated based on the applicable rates in Section C above and adjusted for any applicable discounts, surcharges and/or taxes. On a customer’s bill statement, the bill amount may be broken down into appropriate components as calculated under Section C. {End} NON-RESIDENTIAL IRRIGATION WATER SERVICE UTILITY RATE SCHEDULE W-7 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20112 Supersedes Sheet No W-7-1 dated 710-1-200911 Sheet No W-7-1 A. APPLICABILITY: This schedule applies to non-residential water service supplying dedicated irrigation meters in the City of Palo Alto and its distribution area. B. TERRITORY: This schedule applies everywhere the City of Palo Alto provides water services. C. RATES: Per Meter Monthly Customer Service Charge Per Month For 5/8-inch meter .................................................................................... $ 10.0013.74 For 3/4-inch meter .................................................................................... 10.00 18.28 For 1-inch meter .................................................................................... 13.0027.35 For 1 1/2 inch meter .................................................................................... 27.00 50.03 For 2-inch meter .................................................................................... 43.00 77.25 For 3-inch meter .................................................................................... 114.00163.44 For 4-inch meter .................................................................................... 195.00290.46 For 6-inch meter .................................................................................... 406.00594.39 For 8-inch meter ....................................................................................644.001,093.39 For 10-inch meter ....................................................................................644.001,728.48 Commodity Rates: (to be added to Customer Service Charge) Per Hundred Cubic Feet (ccf) Per Month All Pressure Zones Per Ccfccf ............................................................................................................ $7.86 7.19 NON-RESIDENTIAL IRRIGATION WATER SERVICE UTILITY RATE SCHEDULE W-7 CITY OF PALO ALTO UTILITIES Issued by the City Council Effective 107-1-20112 Supersedes Sheet No W-7-2 dated 710-1-200911 Sheet No W-7-2 D. SPECIAL NOTES: 1. Calculation of Cost Components The actual bill amount is calculated based on the applicable rates in Section C above and adjusted for any applicable discounts, surcharges and/or taxes. On a customer’s bill statement, the bill amount may be broken down into appropriate components as calculated under Section C. {End} Palo Alto Water Cost of Service and Rate Study CITY OF PALO ALTO PUBLIC UTILITIES March 2012 Raftelis Financial Consultants, Inc. ■ 201 S. Lake Blvd, Suite 301 Pasadena • CA Raftelis Financial Consultants, Inc. March 15, 2012 Ms. Ipek Connolly Senior Resource Planner City of Palo Alto Public Utilities 250 Hamilton Ave Palo Alto, CA 94301 Subject: Water Cost of Service and Rate Study Report Dear Ms. Connolly: Raftelis Financial Consultants Inc. (RFC) is pleased to present this r rate study to the City of Palo Alto (City service analysis will result in fair and equitable water The study involved a comprehensive review of the City’s water rates based on cost of service principles The City has conducted a long range financial plan to determine the revenue needs of the water utility in the next five years. However, water rates, based on that financi fiscal year beginning July 2012. All assumptions, including all increases in operating and capital costs, were range financial plans and were factored into the rates. among customer classes and encourage efficient use of services for greater environmental sustainability. The recommendations and findings of the study calculation of the rates are included. It was a pleasure working with you and we appreciate the other staff members provided during the course of the study. If you have any questions, please call me at (626) 583-1894. Sincerely, Sudhir Pardiwala Vice President 201 S. Lake Blvd, Suite 301 CA • 91101 ■ Phone Fax 626•583•1894 626•583•1411 ■ www.raftelis.com ts, Inc. and Rate Study Report Raftelis Financial Consultants Inc. (RFC) is pleased to present this report on the water cost of service and City). We are confident that the recommendations ult in fair and equitable water rates to the City’s customers. comprehensive review of the City’s water rates based on cost of service principles The City has conducted a long range financial plan to determine the revenue needs of the water utility in the next five years. However, water rates, based on that financial plan, are only calculated for the next All assumptions, including all increases in operating and capital costs, were based on the City’s long factored into the rates. The rates were restructured to enhance and encourage efficient use of services for greater environmental he recommendations and findings of the study and various tables describing the calculation of the rates are included. was a pleasure working with you and we appreciate the assistance that you, Mr. Eric Keniston other staff members provided during the course of the study. If you have any questions, please call me Hannah Phan Senior Consultant www.raftelis.com Page ii water cost of service and based on a cost of comprehensive review of the City’s water rates based on cost of service principles. The City has conducted a long range financial plan to determine the revenue needs of the water utility in al plan, are only calculated for the next based on the City’s long- ructured to enhance equity and encourage efficient use of services for greater environmental arious tables describing the assistance that you, Mr. Eric Keniston, and other staff members provided during the course of the study. If you have any questions, please call me Hannah Phan Senior Consultant Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page i Table of Contents SECTION 1: EXECUTIVE SUMMARY ............................................................................................................. 1 System Description ............................................................................................................................... 1 Financing Plan ....................................................................................................................................... 1 Cost of Service Analysis ......................................................................................................................... 2 Proposed Water Rates .......................................................................................................................... 3 Customer Impacts ................................................................................................................................. 4 SECTION 2: WATER FINANCIAL PLAN .......................................................................................................... 6 Water System Infrastructure ................................................................................................................ 6 Existing Water Rates ............................................................................................................................. 6 Water Accounts and Usage Characteristics .......................................................................................... 7 Water System Revenues ..................................................................................................................... 10 Water System Expenditures ................................................................................................................ 11 SECTION 3: COST OF SERVICE ANALYSIS ................................................................................................... 16 Cost of Service to be Allocated ........................................................................................................... 16 Unit Cost of Service ............................................................................................................................. 20 Allocation of Cost to Customer Classes .............................................................................................. 21 SECTION 4: RATE DESIGN .......................................................................................................................... 24 Proposed Rate Structure ..................................................................................................................... 24 Proposed Water Rates ........................................................................................................................ 28 SECTION 5: CUSTOMER IMPACTS ............................................................................................................. 30 Residential Customer Impacts ............................................................................................................ 30 Non-Residential Customer Impacts .................................................................................................... 30 SECTION 6: RATE SURVEY .......................................................................................................................... 31 Palo Alto Water Cost of Service and Rates Study Raftelis Financial Consultants, Inc. Page 1 SECTION 1: EXECUTIVE SUMMARY The City of Palo Alto (City) engaged Raftelis Financial Consultants, Inc. (RFC) to conduct a cost of service and rates study for the water enterprise. The City provided a financial plan detailing the water usage, operating and capital expenses and revenue adjustments. This report documents the resultant findings, analyses, and proposed changes that were developed with input from and approved by City staff. The major objectives of the study include the following: 1. Ensure that rates are Fair and Equitable and are based on Cost of Service guidelines used in the industry. 2. Review existing user classifications to achieve optimal cost causality. 3. Revise rates to encourage efficient use for environmental sustainability. 4. Ensure rates are consistent with the requirements of Proposition 218. This executive summary provides an overview of the study and includes findings and recommendations for water rates. System Description The water enterprise provides service to over 20,200 customers in a service area of over 26 square miles. The water supply is purchased treated water from San Francisco Public Utilities Commission (SFPUC). The cost of water has increased in the last several years due to the statewide water supply shortage. Additionally, SFPUC has undertaken a major capital program that will cause the cost of purchased water to increase significantly over the next several years. The current retail water rate structure consists of a fixed monthly service charge that varies by meter size, a two-tiered commodity rate for individually metered residential customers (W1), and uniform commodity rates for non-residential customers, including irrigation customers (W7), and master metered multi-family residential (MFR) customers (W4), which is grouped under the Commercial W4 rate. The existing rate structure is shown in Table 1-1. Financing Plan In order to determine water rates, RFC used the revenue requirements, including operations and maintenance (O&M), capital improvement expenses, debt service costs, reserve requirements, etc., for the study period from FY 2012 to 2017 provided in the City’s financial plan updated as of February 29, 2012. O&M expenses include the cost of purchasing water, operating and maintaining water supply, treatment, storage, and distribution facilities, as well as the costs of providing technical services such as laboratory services and other administrative costs of the water system such as meter reading and billing. The O&M projections are based on the City’s long-range financial plan, using an inflationary factor of two percent per year to project all O&M expenditures, except water purchased costs, which are calculated separately. Water supply costs are projected to increase an average of 8.2 percent per year from FY 2013 to 2017. Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 2 In addition to the operating expenses, the City is planning significant capital expenditures over the next five years. The City is planning to finance the entire five-year Capital Improvement Program (CIP) of $32.9 million from FY 2013 to 2017 through rate revenues. Existing debt service results in annual payments of approximately $3.2 million. The number of water accounts is projected to remain at current levels. Water usage is projected to decrease an average of approximately 1.6 percent per year as the City encourages conservation to meet state regulations, SBX7- 7, requiring usage reduction by 20 percent by 2020. The City’s financial plan indicates that revenue adjustments of 15 percent per year are required for FY 2013 and 2014, 9 percent in FY 2015, and 4 percent per year in FY 2016 and 2017. The adjustments are needed to meet the operating and capital expenses as well as meet reserves target. The City currently has three separate reserves: emergency plant replacement reserve, rate stabilization reserve, and debt service reserve. According to the City’s reserve policies adopted in March 2009 [CMR 180:09], the rate stabilization reserve balance should be kept at a minimum of 15 percent and maximum of 30 percent of total sales revenue. Figure 1-1 shows the ending balance and minimum and maximum targets for the rate stabilization reserve. Figure 1-1 Ending Reserves Balance Cost of Service Analysis To calculate fair and equitable rates so that customers pay in proportion to the cost of providing service, RFC performed a cost allocation of the total revenue requirements consistent with industry standards. The City currently has three classes of customers – individually metered residential, commercial including master metered multi- family customers, and irrigation customers. The water system is designed to meet the instantaneous demands, including peak demands, of all customers. Different customer classes have different peaking characteristics depending on their water usage behaviors. For example, residential customers have two major peaks during the day – early morning and in the evening. Commercial customers tend to use water more uniformly during the day and thus have lower $0 $2 $4 $6 $8 $10 $12 $14 FY 2012 FY 2014 FY 2016 Mi l l i o n s Rate Stabilization Reserves Balance Ending Balance Min Balance Max Balance Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 3 peaks. Irrigation customers have the highest peaks as their usage during the winter month drops off and irrigation typically requires high demands in summer time. Rates for the different customer classes are designed to equitably capture these peaking costs. Based on the analysis of peaking factors for different customer classes, shown in Section 3 – Allocation of Costs to Customer Classes, RFC recommends that the City retain the existing customer classes as they have similar peaking factors. Based on the analyzed usage patterns, RFC recommends retaining the existing rate structure and tiers for individually metered residential customers. Master metered multi- family residential (MFR) customers are retained on the uniform commercial rate structure. Because they are non-homogenous, commercial and irrigation accounts are not ideally suited for a tiered rate structure, therefore, all non-residential customers should continue to be billed on a uniform rate structure. Rates are calculated for each customer class based on their respective peaking factors, recognizing that different customer classes have different usage patterns. An examination of the distribution system and reservoirs design showed there are not significant differences in costs of serving customers at higher elevations. RFC recommends that that service to customers at the higher elevations be provided at the same rate as the other customers. Proposed Water Rates Table 1-1 shows the proposed water rates for fiscal year (FY) 2013, effective July 1, 2012. Based on cost of service analysis, it is recommended that the City retains the tiered structure for Residential W1 customers and the uniform rate structure for all other customers based on the customer class. All commodity rates are calculated according to cost of service principles. At the current rates, implemented in October 2011, the City collects approximately 11 percent of the total rate revenue from the fixed monthly service charge. The proposed monthly service charge will collect approximately 15 percent of the total rate revenue, which will enhance revenue stability for the utility. Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 4 Table 1-1 Current and Proposed Water Rate Schedule Customer Impacts The following table, Table 1-2, shows the impacts to Residential W1 at different levels of usage, assuming a 5/8” meter. Low volume users will experience higher impacts due to the increase in the meter charge and first tier rate. Correspondingly, large volume customers may not experience as much of an increase. Usage greater than 34 ccf monthly represents the top five percent of the annual water bills in the City. General Monthly Meter Service Charge Meter Size Effective Oct 1, 2011 July 1, 2012 5/8" $10.00 $13.74 3/4" $10.00 $18.28 1" $13.00 $27.35 1 1/2" $27.00 $50.03 2" $43.00 $77.25 3" $114.00 $163.44 4" $195.00 $290.46 6" $406.00 $594.39 8" $644.00 $1,093.39 10" $644.00 $1,728.48 Monthly Fire Meter Service Charge Meter Size Effective Oct 1, 2011 July 1, 2012 2" $3.63 $3.30 4" $7.27 $20.44 6" $16.13 $59.38 8" $28.53 $126.54 10" $44.48 $227.56 Commodity Rate ($/ccf) Effective Oct 1, 2011 July 1, 2012 Residential - W1 Tier 1 0 - 6 ccf $3.60 $4.54 Tier 2 over 6 ccf $7.34 $7.06 Master MFR/Commercial - W4 $4.93 $5.75 Irrigation - W7 $7.86 $7.19 Fire Service - W3 $10.00 $10.00 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 5 Table 1-2 Monthly Customer Impacts – Residential W1 Note: Assumes 5/8” meter Usage Monthly Level Usage (ccf) Current Bill Proposed Bill % Change $ Change Very Low 4 $24.40 $31.90 31% $7.50 Low 8 $46.28 $55.10 19% $8.82 Average 12 $75.64 $83.34 10% $7.70 High 20 $134.36 $139.82 4% $5.46 Very High 34 $237.12 $238.66 1% $1.54 Palo Alto Water Cost of Service and Rates Study Raftelis Financial Consultants, Inc. Page 6 SECTION 2: WATER FINANCIAL PLAN This subsection of the report provides a summary of the projected revenues, O&M and capital expenditures, capital improvement financing plan, debt service requirements, and the revenue adjustments required to ensure the financial stability of the water enterprise as presented in the City’s financial plan. Water System Infrastructure The water enterprise provides service to over 20,200 customers in a service area of over 26 square miles. The sole potable water supply is purchased water from San Francisco Public Utilities Commission (SFPUC). The water supply costs are approximately $1,276 per acre foot (AF) in FY 2012, projected to increase 9 percent to $1,391 per AF in FY 2013. The purchased costs have increased in the last several years and are projected to increase significantly until FY 2019 according to estimates from SFPUC. The City delivers water to its customers through a distribution system consisting of 214 miles of water mains. In addition, the City owns eight standby wells (including one that is currently under construction) and six reservoirs with a total storage capacity of 10.5 million gallons. Existing Water Rates The current water rate structure consists of a monthly service charge and a per-unit volume rate. The service charge varies by meter size. Individually metered residential customers have a two-tier water volume rate, and the remaining customers, including master metered MFR, commercial, and irrigation customers, pay a uniform rate per hundred cubic foot (ccf) of water used. The current rate structure is shown in Table 2-1. Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 7 Table 2-1 Existing Water Rate Structure Water Accounts and Usage Characteristics Customer accounts and usage information in FY 2011 are used as the basis for projecting water revenues during the study period. The projections are based on the City’s long-range financial plan. While water accounts are projected to remain stable for the next five years, water usage is projected to decrease at an average rate of approximately 1.6 percent per year due to customer installations of efficient appliances and overall water conservation. Table 2-2 shows the estimated total customer accounts by meter size for the current fiscal year. As stated above, the financial projections assume no significant change to customer accounts in the next five years. General Monthly Meter Service Charge Meter Size Effective Oct 1, 2011 5/8" $10.00 3/4" $10.00 1" $13.00 1 1/2" $27.00 2" $43.00 3" $114.00 4" $195.00 6" $406.00 8" $644.00 10" $644.00 Monthly Fire Meter Service Charge Meter Size Effective Oct 1, 2011 2" $3.63 4" $7.27 6" $16.13 8" $28.53 10" $44.48 Commodity Rate ($/ccf) Effective Oct 1, 2011 Residential - W1 Tier 1 0 - 6 ccf $3.60 Tier 2 over 6 ccf $7.34 Master MFR/Commercial - W4 $4.93 Irrigation - W7 $7.86 Fire Service - W3 $10.00 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 8 Table 2-2 Projected Customer Accounts by Meter Size Table 2-3 shows the projected water usage by customer class for the next five years. Table 2-3 Projected Water Usage (ccf) As shown in Figure 2-1, Residential W1 customers use approximately 49 percent of the total water consumption within the City and contribute 51 percent of the revenue. On the other hand, master- metered MFR and Commercial customers use 43 percent of the water and contribute 39 percent of the revenue and Irrigation customers use 8 percent of the water and contribute 10 percent of the revenue. Rates that vary by customer class, based on the usage characteristics of the class, typically will produce revenues that are not in the same proportion as usage. The cost of service analysis, Allocation of Costs to Customer Classes in Section 3, shows how the revenues collected from the different classes are proportional to the cost of service provided to these classes. Meter Size Residential - W1 Master MFR/ Commercial - W4 Irrigation - W7 Fire Service - W3 5/8" 13,771 1,060 53 3/4" 489 79 6 1" 1,948 581 75 1 1/2" 181 370 62 2" 73 606 111 0 3" 1 79 13 0 4" 1 50 6 226 6" 0 22 1 217 8" 0 12 1 134 10" 0 0 0 7 TOTAL METERS 16,464 2,859 328 584 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Estimated Projected Projected Projected Projected Projected Residential - W1 Tier 1 46%1,134,529 1,109,963 1,071,251 1,033,889 1,010,184 999,093 Tier 2 54%1,358,903 1,329,479 1,283,112 1,238,361 1,209,967 1,196,683 Commercial - W4 2,182,348 2,135,093 2,060,630 1,988,761 1,943,162 1,921,828 Irrigation - W7 426,568 417,332 402,777 388,729 379,816 375,646 Fire Service - W3 1,333 1,304 1,258 1,214 1,187 1,174 Fire Hydrant - W2 3,732 3,732 3,732 3,732 3,732 3,732 TOTAL USAGE 5,107,412 4,996,902 4,822,760 4,654,687 4,548,048 4,498,156 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 9 Figure 2-1 Water Usage and Revenue Comparison – FY 2012 Meters & Equivalent Meters Most residential customers in the City are provided water service through a 5/8-inch meter, as shown in Table 2-2. To allocate meter-related costs appropriately, the concept of “equivalent meters” is utilized. Most rate studies calculate equivalent meters based on meter hydraulic capacity. The ratio of hydraulic capacity is calculated by dividing large meter capacities by the base meter capacity. The actual number of meters by size is multiplied by the corresponding capacity ratio to calculate equivalent meters. The capacity ratio is calculated using the meter capacity in gallons per minute (gpm) provided in the AWWA M22 Manual. By using equivalent meters instead of a straight meter count, the analysis reflects the fact that larger meters impose larger demands, are more expensive to install, maintain, and replace than smaller meters and commit a greater capacity in the system. Equivalent meters are used in calculating meter service costs. The equivalent meter ratios used for this study are shown in Table 2-4 below. 49% 43% 8% 0% 51% 39% 10% 0% 0% 10% 20% 30% 40% 50% 60% Residential - W1 Master MFR/Commercial - W4 Irrigation - W7 Fire Service - W3 FY 2012 Usage & Revenue Comparison FY 2012 Usage FY 2012 Revenue Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 10 Table 2-4 Equivalent Meter Ratios Meter Capacity in gallons per minute Water System Revenues The City’s water enterprise derives its required annual operating and capital revenues from a number of sources. The principal source of operating revenues is the water service charges from the City’s water customers. At the existing rates, revenues are expected to decrease from $29.8 million in FY 2012 to $28.3 million by FY 2017 due to projected reduction in water usage. Other revenue sources include miscellaneous operating revenues such as installation fees, interest earnings, etc. Capital revenue sources include connection fees, bond proceeds, and grants and loans. RFC reviewed the various sources of operating and capital revenues and the City’s financing plan. Table 2-5 presents the details of the operating and capital related revenues. Meter Size Meter Capacity AWWA Ratio 5/8" 20 0.67 3/4" 30 1.00 1" 50 1.67 1 1/2" 100 3.33 2" 160 5.33 3" 350 11.67 4" 630 21.00 6" 1,300 43.33 8" 2,400 80.00 10" 3,800 126.67 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 11 Table 2-5 Revenue Summary under Existing Rates The City derived approximately 9.7 percent of its rate revenues from fixed service charges and the remainder from the variable commodity rates in FY 2012, since the City increased its water rates in October 2011, three months into the fiscal year. If the current rates were effective for the entire fiscal year, the City would collect approximately 11 percent of its rate revenues from fixed service charges. This rate structure exposes the water fund to higher risks associated with reduced water usage since a large percentage of revenue is based on variable consumption while a large percentage of operation costs are fixed. Water System Expenditures For sound financial operation of the City's water system, the revenues generated must be sufficient to meet the revenue requirements or cash obligations of the system. Revenue requirements include water purchase costs, O&M expenses, capital improvement program (CIP) expenditures, principal and interest payments on existing debt, and other obligations. Operation and Maintenance Expenses O&M expenditures include the cost of operating and maintaining water supply, treatment, storage, and distribution facilities. O&M expenses also include the costs of providing technical services such as laboratory services and other administrative costs of the water system such as meter reading and billing. These costs are a normal obligation of the system, and are met from operating revenues as they are incurred. The comprehensive forecasted annual O&M expenditures for the study are based upon the City's long-range financial plan, using an inflationary factor of two percent per year to project all O&M expenditures, except water purchase costs, which are calculated separately. Water supply costs increase from $15 million to $22.5 million from FY 2012 through 2017. Total water supply costs are forecasted to increase at an average of approximately 8.2 percent per year over the study period. Projected O&M expenditures for the study period are summarized by functions in Table 2-6. FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Estimated Projected Projected Projected Projected Projected Sales Revenues - Fixed $2,887,929 $3,451,891 $3,451,891 $3,451,891 $3,451,891 $3,451,891 Sales Revenues - Variable $26,928,589 $27,573,513 $26,611,858 $25,683,718 $25,094,831 $24,819,315 Total Sales Revenues $29,816,518 $31,025,405 $30,063,750 $29,135,609 $28,546,722 $28,271,207 Interest Income $970,600 $612,905 $650,644 $743,787 $615,767 $577,724 Other Income $776,000 $785,000 $795,000 $749,840 $771,000 Connection Charges $175,000 $346,000 $345,000 $345,000 $289,840 $298,000 Capacity Fees $525,000 $430,000 $440,000 $450,000 $460,000 $473,000 Transfer from Other Utility Funds $74,996 $74,996 $74,996 $74,996 $74,996 $74,996 Misc And Reimbursements $193,400 $193,400 $193,400 $193,400 $193,400 $193,400 Grant Funds $604,601 $597,587 $587,861 $576,632 $563,822 $550,452 Subtotal Other Income $1,572,997 $1,641,983 $1,641,257 $1,640,028 $1,582,058 $1,589,848 TOTAL REVENUE $32,360,114 $33,280,292 $32,355,651 $31,519,424 $30,744,548 $30,438,779 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 12 Table 2-6 Projected O&M Expenses Water Capital Improvement Program The City has developed a comprehensive water Capital Improvement Program (CIP) to address current water system needs. As Table 2-7 indicates, the total estimated water CIP for the study period of FY 2012 to FY 2017 is $37.3 million. This inflation rate is a conservative estimate and ensures that the City has adequate resources reserved to complete the necessary projects. In the financial plan, the City assumes that all capital costs will be rate funded. Funding the capital costs through rates is especially prudent for the City because the City’s capital costs are fairly uniform over the planning period, except for a spike in FY 2014, and rates will provide the necessary cash to fund those projects and save on interest costs. However, issuing debt would spread the costs over a longer term and minimize the rate adjustments needed in the short term. Table 2-7 Capital Improvement Plan O&M EXPENSES FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Estimated Projected Projected Projected Projected Projected Resource Management & Admin $667,113 $680,455 $694,064 $707,945 $722,104 $736,546 Purchases $14,960,517 $15,940,087 $17,390,108 $19,582,002 $20,625,706 $22,460,313 Allocated Admin & Overhead $2,523,981 $2,620,912 $2,673,330 $2,726,796 $2,781,332 $2,836,959 Engineering Support & Admin $983,460 $1,050,712 $1,071,726 $1,093,161 $1,115,024 $1,137,324 Transmission $1,769,881 $1,856,279 $1,893,404 $1,931,272 $1,969,898 $2,009,296 Distribution $3,092,520 $3,562,370 $3,633,617 $3,706,290 $3,780,416 $3,856,024 Customer Service & Admin $661,674 $674,908 $688,406 $702,174 $716,217 $730,542 Meter Reading $261,106 $266,328 $271,655 $277,088 $282,629 $288,282 Billing And Collections $256,164 $261,288 $266,513 $271,844 $277,281 $282,826 Water Demand Side Management $635,865 $699,582 $713,574 $727,845 $742,402 $757,250 Rent $2,141,887 $2,184,725 $2,228,419 $2,272,988 $2,318,447 $2,364,816 Operating Transfer Out to Other Funds $103,737 $105,812 $107,928 $110,087 $112,288 $114,534 TOTAL O&M EXPENSES $28,057,905 $29,903,456 $31,632,745 $34,109,492 $35,443,746 $37,574,713 WBS Description FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 WS-13004 Asset Management Mobile Deployment $100,000 WS-13002 Fusion and General Equipment Tools $50,000 $53,000 $56,180 WS-13003 GPS Equipment Upgrade $200,000 WS-09000 Seismic Water System Improvement $600,000 $3,820,000 $0 $0 $0 WS-07000 Turnouts Regulator Station $0 $600,000 WS-11003 Water Distribution System Improvements $212,000 $218,000 $225,000 $232,000 $238,960 WS-80015 Water Meters $222,000 $229,000 $236,000 $243,080 $250,372 WS-07001 Water Recycling Facility $0 $0 $0 $0 WS-08001 Water Reservoir Coating $500,000 $1,000,000 $1,000,000 $0 $0 WS-80014 Water Service Hydrants $222,000 $229,000 $236,000 $243,080 $0 WS-11004 Water Supply Sys Improvement $212,000 $218,000 $225,000 $232,000 $238,960 WS-80013 Water System Extension $420,000 $430,000 $440,000 $450,000 $460,000 $473,000 WS-02014 W-G-W Utility GIS Data $100,000 $100,000 $100,000 $0 $0 WS-07003 WMR Project 21 $0 WS-11000 WMR-Project 25 $3,152,000 $0 $0 $0 WS-12001 WMR-Project 26 $3,245,000 $0 $0 $0 WS-13001 WMR-Project 27 $314,000 $3,345,000 $0 $0 WS-14001 WMR-Project 28 $0 $324,000 $3,445,000 $0 WS-15002 WMR-Project 29 $0 $0 $334,000 $3,550,000 WS-16001 WMR - Project 30 $0 $0 $344,020 WS-16002 WMR - Project 31 $0 $0 $0 Adjustment to match Financial plan $3,949,000 TOTAL CIP $4,369,000 $6,000,000 $9,813,000 $6,794,000 $5,189,160 $5,151,492 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 13 Revenue Adjustments The City’s financial plan projects the following revenue adjustments for the next five years, as shown in Table 2-8. The adjustments are necessary to meet projected expenditures and to maintain sufficient reserves balances. Table 2-8 Revenue Adjustments Schedule Fiscal Year Revenue Adjustments 2013 15% 2014 15% 2015 9% 2016 4% 2017 4% Debt Service Requirements Debt service requirements consist of principal and interest payments on existing debt. The City currently has debt service obligations associated with the outstanding 2009 Water Revenue Bonds and the 2011 Revenue Refunding Bonds. Existing debt service payments are approximately $3.2 million annually. Table 2-9 shows the existing debt service of the Water Enterprise. Table 2-9 Existing Debt Schedule Note: Debt service for FY 2012 includes the 2002 bonds, which are refunded by the 2011 bonds. Debt Service Coverage The City must meet debt service coverage requirements on its outstanding bond issues. Coverage requirements typically vary between 100 percent and 160 percent or higher. The City’s required debt coverage is 125 percent, which means that the City’s Adjusted Net System Revenues shall amount to at least 125 percent of the Annual Debt Service. The system revenues include funds derived from the ownership and operation of the system including water service charges from the City’s customers, miscellaneous service charges, revenues received from contracts, and interest income. Annual Debt Service includes annual principal and interest payments on outstanding debt. With the proposed revenue adjustments, the City exceeds the coverage requirement during each year of the study’s planning period. FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Water Revenue Bonds - 2009 Series A (Direct Payment Build America Bonds) Principal $835,000 $855,000 $885,000 $915,000 $955,000 $990,000 Interest $1,727,430 $1,707,390 $1,679,603 $1,647,521 $1,610,921 $1,572,721 Total 2009 Debt Service $2,562,430 $2,562,390 $2,564,603 $2,562,521 $2,565,921 $2,562,721 2011 Utility Revenue Refunding - Series A Principal $479,250 $414,000 $425,250 $438,750 $452,250 $470,250 Interest $177,864 $242,775 $230,355 $217,598 $204,435 $186,345 Total 2011 Debt Service $657,114 $656,775 $655,605 $656,348 $656,685 $656,595 TOTAL EXISTING DEBT SERVICE $3,338,027 $3,219,165 $3,220,208 $3,218,869 $3,222,606 $3,219,316 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 14 Table 2-10 and Figure 2-2 show the operating financial plan for the next five years based on the revenue and expenses information presented above. The plan includes the revenue adjustments shown in Table 2-8. Table 2-10 Operating Financial Plan FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Estimated Projected Projected Projected Projected Projected Revenue from Existing Rates $29,816,518 $31,025,405 $30,063,750 $29,135,609 $28,546,722 $28,271,207 Total Additional Revenue $0 $4,653,811 $9,695,559 $12,864,100 $14,250,124 $15,807,942 Total Revenue from Rates $29,816,518 $35,679,215 $39,759,309 $41,999,709 $42,796,847 $44,079,149 Interest Income $970,600 $612,905 $650,644 $743,787 $615,767 $577,724 Other Operating Revenue $872,997 $865,983 $856,257 $845,028 $832,218 $818,848 Total Operating Revenue $31,660,114 $37,158,102 $41,266,210 $43,588,524 $44,244,832 $45,475,721 Capital Revenue Connection Charges $175,000 $346,000 $345,000 $345,000 $289,840 $298,000 Capacity Fees $525,000 $430,000 $440,000 $450,000 $460,000 $473,000 Proposed Bonds Proceeds $0 $0 $0 $0 $0 Total Capital Revenue $700,000 $776,000 $785,000 $795,000 $749,840 $771,000 TOTAL REVENUE $32,360,114 $37,934,102 $42,051,210 $44,383,524 $44,994,672 $46,246,721 Operating Expenses Operations $10,955,501 $11,778,645 $12,014,218 $12,254,502 $12,499,592 $12,749,584 Purchases $14,960,517 $15,940,087 $17,390,108 $19,582,002 $20,625,706 $22,460,313 Rent $2,141,887 $2,184,725 $2,228,419 $2,272,988 $2,318,447 $2,364,816 Existing Debt Service $3,338,027 $3,219,165 $3,220,208 $3,218,869 $3,222,606 $3,219,316 Proposed Debt Service $0 $0 $0 $0 $0 Total Operating Expenses $31,395,932 $33,122,621 $34,852,952 $37,328,361 $38,666,352 $40,794,029 Capital Expenditures $4,369,000 $6,000,000 $9,813,000 $6,794,000 $5,189,160 $5,151,492 Net Cash Flow ($3,404,818) ($1,188,519) ($2,614,742) $261,164 $1,139,160 $301,200 Debt Coverage Ratio 129% 249% 324% 319% 296% 269% Required Debt Coverage Ratio 125% 125% 125% 125% 125% 125% Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 15 Figure 2-2 Operating Financial Plan Reserves The City currently maintains three separate reserves: emergency plant replacement reserve, rate stabilization reserve, and debt service reserve. According to the City’s current reserves policy, the rate stabilization reserve is set at a minimum of 15 percent of rate revenue and a maximum of 30 percent of rate revenue. The emergency plant replacement reserve is set at a minimum of $1 million to cover the liability insurance deductible for losses resulting from damages to water assets during disasters. The debt service reserve is maintained according to the covenants of the outstanding debt and currently includes $3.3 million. The estimated FY 2012 total ending rate stabilization reserve balance is approximately $9.5 million. The reserve balance and the minimum and maximum reserves targets are shown in Figure 2-3. The reserve level is projected to be just below the minimum in some years in the five-year forecast horizon. Figure 2-3 Ending Reserves Balance -$10 $0 $10 $20 $30 $40 $50 FY 2012 FY 2014 FY 2016 Mi l l i o n s Operating Financial Plan Operations Purchases Rent Reserves Debt Service CIP Current Revenue Proposed Revenue $0 $2 $4 $6 $8 $10 $12 $14 FY 2012 FY 2014 FY 2016 Mi l l i o n s Rate Stabilization Reserves Balance Ending Balance Min Balance Max Balance Palo Alto Water Cost of Service and Rates Study Raftelis Financial Consultants, Inc. Page 16 SECTION 3: COST OF SERVICE ANALYSIS The City’s customer classifications and the revenue requirements reviewed and finalized through the operating and capital cash flow analysis provide the basis for performing the cost of service analysis. This section of the report discusses the allocation of operating and capital costs to the appropriate parameters consistent with industry standards and the determination of unit costs. The total revenue requirements net of revenue credits from miscellaneous sources, is by definition, the cost of providing service as shown in Table 3-1. This cost is then used as the basis to develop unit costs for the water parameters and to allocate costs to the various customer classes in proportion to the water services rendered. The concept of proportionate allocation to customer classes requires that allocations should take into consideration not only the average quantity of water used but also the peak rate at which it is consumed. There are costs associated with design and construction of facilities used to meet peak demands, and these need to be allocated so that peaking costs can be recovered appropriately. In this Study, water rates were calculated for FY 2013, and accordingly FY 2013 is defined as the Test Year. Test Year revenue requirements are used in the cost allocation process. Cost of Service to be Allocated The annual revenue requirements or costs of service to be recovered from commodity charges include operation and maintenance (O&M) expenses, costs associated with annual renewal and replacements, and other capital related costs. O&M expenses include costs directly related to the supply, treatment, and distribution of water as well as routine maintenance of system facilities. This maintenance is often referred to as routine capital and represents the annual recurring capital outlay for minor system improvements and purchases of materials and supplies. The total FY 2013 cost of service to be recovered from the City’s water customers, shown in Table 3-1, is estimated at approximately $35.7 million, of which approximately $27.2 million is operating costs and the remaining $8.4 million is capital costs, which consists of capital expenditures and existing debt service. The cost of service analysis is based upon the premise that the utility must generate annual revenues adequate to meet the estimated annual revenue requirements. As part of the cost of service analysis, revenues from sources other than water rates and charges (e.g. revenues from miscellaneous services) are deducted from the appropriate cost elements. Additional deductions are made to reflect interest income and other non-operating income during FY 2013. Adjustments are also made to account for cash balances to ensure adequate collection of revenue and to determine annual revenues needed from rates. Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 17 Table 3-1 Allocation of Revenue Requirements To allocate the cost of service among the different customer classes, costs first need to be allocated to the appropriate water parameters. The following section describes the allocation of the operating and capital costs of service to the appropriate parameters of the water system. Functional Cost Components The total cost of water service is analyzed by system function in order to equitably distribute costs of service to the various classes of customers. For this analysis, water utility costs of service are assigned under the Base-Extra Capacity method to three basic functional cost components including base costs, extra capacity or peaking costs and customer service related costs as described in the M1 Manual, Principles of Water Rates, Fees, and Charges, published by the American Water Works Association (AWWA). This method is widely used in the water industry to serve retail customers. Base Costs Base costs are those operating and capital costs of the water system associated with serving customers at a constant average rate of use. Supply costs are typically considered to be based on average usage. Extra Capacity Costs Extra capacity or peaking costs represent those costs incurred to meet customer peak demands for water in excess of average day usage. Total extra capacity costs are subdivided into costs associated Operating Capital Total Revenue Requirements Operations $11,778,645 $11,778,645 Purchases $15,940,087 $15,940,087 Rent $2,184,725 $2,184,725 Existing Debt Service $3,219,165 $3,219,165 Proposed Debt Service $0 $0 Capital Expenditures $6,000,000 $6,000,000 Subtotal Revenue Requirements $29,903,456 $9,219,165 $39,122,621 Less: Revenue from Other Sources Interest Income $603,952 $603,952 Other Operating Revenue $865,983 $865,983 Capital Revenue $776,000 $776,000 Subtotal Revenue Requirements $1,469,934 $776,000 $2,245,934 Less: Adjustments Annual Cash Balance $1,197,471 $1,197,471 Mid-year Rate Increase $0 Subtotal Revenue Requirements $1,197,471 $0 $1,197,471 Total Revenue to be Recovered from Rates $27,236,050 $8,443,165 $35,679,215 FY 2013 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 18 with maximum day and maximum hour demands. The maximum day demand is the maximum amount of water used in a single day in a year. The maximum hour demand is the maximum usage in an hour on the maximum usage day. Different facilities are designed to meet different peaking characteristics. For example, transmission lines are designed to meet Max Day requirements. Transmission lines have to be designed larger than they would be if the same annual amount of water were being used at a constant rate throughout the year. The cost associated with constructing a larger line is based on the overdesign” and is proportioned on the Max Day factor. For example if the Max Day factor is 2.0, then the line has to be designed twice as large as required to meet just the average usage conditions. In this case half of the cost would be allocated to Base or average and the other half allocated to Max Day. The calculation of the Max Hour and Max Day demands is explained below. Customer Service Related Costs Customer service costs include customer related and meter related costs. Customer costs are uniform for all customers and include such costs as meter reading, billing, collecting, and accounting. Meter service costs include maintenance and capital costs associated with meters and a portion of the capacity related costs. These costs are assigned based on meter size or equivalent meter capacity. The allocation of costs of service into these principal components provides the means for determining the costs to the various customer classes on the basis of their respective base, extra capacity and customer requirements for service. Allocation to Functional Cost Components The water utility is comprised of various facilities each designed and operated to fulfill a given function. In order to provide adequate service to its customers at all times, the utility must be capable of not only providing the total amount of water used, but also supplying water at peak or maximum rates of demand. The separation of costs by function allows allocation of such costs to the functional cost components. Determination of Allocation Percentages To determine how costs should be allocated to average and peak (Max Day and Max Hour) demands, the allocation percentages assigned to each cost components need to be determined. Allocation percentages were derived from actual historical data. RFC performed the following steps to derive the allocation percentages for apportioning the City’s O&M and capital costs. Customer service related costs are allocated 100% to the customer service component. Costs related to meter maintenance are allocated to meter service component. These two components are included in the fixed monthly service charges. The methodology for calculating volume related cost allocation is explained below. Table 3-3 will help in understanding the allocation calculations. The first step is to determine system peaking factors. Peaking factors are based on the City’s usage characteristics. RFC analyzed two years of hourly usage data provided by the City to determine the peaking factors. The Base or average daily demand (ADD) is the average of the annual usage expressed as the usage per day. This Base Demand, or ADD, for the City is 13,560 CCF per day and is assigned a value of 1.0. The City’s Max Day demand is 20,775 CCF per day, or 1.53 times the ADD, and is therefore, assigned a value of 1.53. The maximum hourly (Max Hour) usage is estimated to be 2.40 times the ADD, and is therefore, assigned a value of 2.40. Table 3-2 below shows the peaking factors of the whole system, calculated from the prior two years of hourly usage data. Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 19 Table 3-2 System Peaking Factors To determine the relative proportion of costs to assign to Base, Max Day and Max Hour, allocations are calculated based on these factors. Cost components that are solely Base related to provide average day demand, such as source of supply, are allocated 100 percent to Base. Cost components that are designed to meet Max Day peaks, such as reservoirs and transmission facilities, are allocated to Base and Max Day factors. Since facilities such as reservoirs and distribution systems are also designed to handle fire flow, an allocation is also provided for fire flow. The Max Day factor of the City’s system is 1.53, which means that Max Day facilities are designed to provide 153% of the average day capacity. In other words, 53 out of 153, or 35% (53/153) represents the portion required to meet Max Day requirements. Therefore the Max Day facilities are designed 35% larger than required to meet average usage conditions to meet Max Day requirements. Base: 65% = (1.00/1.53)x100 Max Day: 35% = (1.53-1.00)/1.53x100 Cost components such as those related to the distribution system that are designed for Max Hour peaks are allocated similarly. The Max Hour factor is 2.4, so Max Day facilities are designed to provide 240% of the average day capacity. Out of this 240, 100 represents the ADD, 54 represents the Max Day requirement and the remainder of 87 represents the Max hour requirement. This means that the Max Hour capacity represents 87 out of 240, or 36% (87/240), the Max Day represents 53 out of 240, or 22% (53/240), and the remaining 100 out of 240 represents the base capacity of the facilities designed for Max Hour. The allocation of Max Hour facilities is shown below: Base: 42% = (1.00/2.40)x100 Max Day: 22% = (1.53-1.00)/2.40x100 Max Hour: 36% = (2.40-1.53)/2.40x100 The results of the allocation are presented in Table 3-3 below. Table 3-3 Calculation of Allocation Factors 2-yr Peaking Factors Base 1.00 Max Day 1.53 Max Hour 2.40 Base Max Day Max Hour Facilities Designed for Base 100% Facilities Designed for Max Day 65% 35% Facilities Designed for Max Hour 42% 22% 36% Allocation Percentages Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 20 These percentages are used to allocate the operating and capital improvement costs amongst Base, Max Day, and Max Hour parameters for cost of service calculations, which is explained in detail in the following sections. Allocation of Operating Expense Projected net operating expenses for FY 2013 are allocated to cost components on the basis of the design criteria of the facilities. Water supply costs are allocated to base; storage or reservoir costs are allocated to max day and fire; distribution system costs are allocated to max hour and fire; transmission costs are allocated to max day; billing and customer service costs are allocated to customer service, etc. Administration and general expenses are related to total system operations and cannot be specifically allocated to individual functions such as storage or distribution, etc. These expenses are therefore allocated in the same proportion as all the remaining operating expenses. The resulting allocation of operation and maintenance expense serves as the basis for allocating the FY 2013 net operating costs shown in Table 3-1 to the base, extra capacity and customer costs functions. Allocation of Plant Investment and Capital Costs Capital costs include capital improvements financed from annual revenues, debt service and other sources. Capital costs related to specific facilities will vary significantly from year to year. Allocating these costs based on the functions of these specific facilities would cause the rates to the different customer classes to change from year to year. A reasonable method of assigning capital costs to functional components, widely practiced in the industry, is to allocate such costs on the basis of net plant investment recognizing that over a period of time these allocations will provide costs to be passed on to customers equitably. Net plant investment is represented by the total replacement cost of water utility facilities less accumulated depreciation. The estimated fiscal year net plant investment in water facilities consists of net plant in service as of June 30, 2011. Costs are allocated based on the design criteria of each facility. For example, treatment facilities are allocated to Max Day since these facilities are designed to handle the maximum day demand. The investment in general plant is allocated to each cost component on the basis of all other plant investment. The resulting allocation of net plant investment serves as the basis for allocating the capital costs shown in Table 3-1. Unit Cost of Service In order to allocate costs of service to the different customer classes, unit costs of service need to be developed for each cost component. The unit costs of service are developed by dividing the total annual costs allocated to each parameter by the total annual service units of the respective component. The volume related cost components are based on volumetric units of one hundred cubic feet or CCF (about 748 gallons). Customer service related cost components are based on number of accounts and meter related costs are based on equivalent meters. Table 3-4 shows the determination of the total annual units by customer class. The extra capacity units are determined based on the respective peaking factor for each class, as shown in Table 3-6. Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 21 Table 3-4 Determination of Total Annual Units Table 3-5 shows the units of service and the development of the FY 2013 unit costs for each of the cost components. To ensure that the costs are appropriately shared between fixed and variable components and recognize the demands based on capacity of meters, a portion of the extra capacity related costs are allocated to meters to recognize the demand that meters place on the system. The allocated costs are divided by the total number of units for each component to determine the unit costs of each component as shown in Table 3-5. Table 3-5 Development of Unit Cost Allocation of Cost to Customer Classes The unit cost of each of the cost categories shown in Table 3-5 is then applied to the projected FY 2013 usage and units of each customer class to derive customer class costs. Costs are allocated to each customer class based on the respective peaking factors for each class. The primary differentiator of rates amongst different customer classes is based on the demand that they put on the system. This demand is expressed in terms of the maximum day and maximum hour factors. These are the maximum demands expressed as a multiple of the average demands of the customer class. Residential customers generally have higher peaking factors than commercial customers and irrigation customers have the highest peaking factors. The max day factor for each customer class is based on the maximum month demands. The ratio of the max hour and max day for the whole system is used to estimate the max hour factor for each customer class. The peaking factors, shown in Table 3-6, were determined for the three customer classes. Annual Average Total Extra Total Extra Use Daily Use Capacity Capacity Capacity Capacity Capacity Capacity Monthly Equivalent Customer Class (ccf) (ccf/day) Factor (ccf/day) (ccf/day) Factor (ccf/hour) (ccf/hour) Bills Meters Residential - W1 2,439,441 6,683 2.00 13,367 6,683 3.14 20,968 7,601 16,464 13,942 Master MFR/Commercial - W4 2,135,093 5,850 1.75 10,237 4,387 2.75 16,058 5,821 2,859 10,104 Irrigation - W7 417,332 1,143 3.00 3,430 2,287 4.71 5,381 1,950 328 1,366 TOTAL 4,991,866 13,676 27,034 13,357 42,406 15,372 19,651 25,412 Maximum Day Requirements Maximum Hour Requirements Base Max Day Max Hour Fire Meter Billing General Total Operating Expenses $17,809,449 $1,717,027 $1,136,457 $368,830 $184,415 $1,099,147 $4,920,726 $27,236,050 Capital Expenses $3,300,939 $1,718,968 $1,916,247 $782,065 $470,434 $0 $254,512 $8,443,165 Total Cost $21,110,387 $3,435,994 $3,052,704 $1,150,895 $654,849 $1,099,147 $5,175,238 $35,679,215 Allocation of General Costs $1,552,571 $1,742,476 $1,548,100 $332,090 ($5,175,238) $0 Allocation of Public Fire Costs ($718,247) $718,247 $0 Allocation Peak to Meter ($1,294,618) ($1,150,201) $2,444,819 $0 Total Cost of Service $22,662,959 $3,883,853 $3,450,603 $432,649 $4,150,005 $1,099,147 $0 $35,679,215 TRUE Total Units of Service 4,991,866 13,357 15,372 7,286 304,944 235,812 Unit of Measure ccf ccf/day ccf/day Private fire equiv meter bills/yr Total Unit Cost of Service Unit Rate $4.54 $290.77 $224.47 $59.38 $13.61 $4.66 Average Cost of Service $6.01 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 22 Table 3-6 Peaking Factor by Customer Class Table 3-7 shows the FY 2013 customer class units and cost responsibility for each customer class. Table 3-7 Customer Class Cost The Residential W1 customer class has the highest assignment of costs at $17.9 million followed by the Commercial W4 customer class at $14 million. The City’s residential class is responsible for 50 percent of the total cost of service. The commercial class is responsible for approximately 40 percent of the annual cost of service, and the remaining 10 percent is associated with irrigation and private fire protection customers. Table 3-7 presents a comparison of the distribution of projected revenue (FY 2013) at current rates and the annual cost of service allocated among customer classes. Approximately 50 percent of both costs and revenues can be attributed to the Residential W1 customer class. Figure 3-1 indicates that based on cost of service, more revenue should be recovered from Commercial W4 customers than under current rates and less revenue should be recovered from irrigation customers and residential customers. This helps to improve the recovery of costs proportionate to use from the different customer classes. Note that the percentage of revenues from the different customer classes at the current rates are different than shown in Figure 2-1; this results because rates changed in October 2011 and Figure 2-1 shows the revenues at the average rate for the year, whereas Figure 3-1 shows the revenues at the October 2011 rates. Customer Specific Peaking Factors Max Day Max Hour Residential - W1 2.00 3.14 Master MFR/Commercial - W4 1.75 2.75 Irrigation - W7 3.00 4.71 Customer Class Base Max Day Max Hour Fire Meter Billing Total Residential - W1 $11,075,008 $1,943,304 $1,706,151 $2,276,798 $920,887 $17,922,148 Master MFR/Commercial - W4 $9,693,275 $1,275,641 $1,306,628 $1,650,127 $159,914 $14,085,585 Irrigation - W7 $1,894,676 $664,908 $437,824 $223,080 $18,346 $3,238,834 Fire Service - W3 $432,649 $432,649 TOTAL $22,662,959 $3,883,853 $3,450,603 $432,649 $4,150,005 $1,099,147 $35,679,215 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 23 Figure 3-1 Cost of Service and Current Revenue by Customer Classes in FY 2013 Once the customer class cost responsibility is determined, the next step is to design customer rate schedules to recover the revenues required from each customer class, which is discussed in the next section. The rate design analysis will illustrate how revenues are collected within each class using the current rate structure and how they compare to costs. 50% 39% 9% 1% 51% 37% 11% 0% 0% 10% 20% 30% 40% 50% 60% Residential - W1 Master MFR/Commercial - W4 Irrigation - W7 Fire Service - W3 Comparison of COS and Current Structure COS Current Palo Alto Water Cost of Service and Rates Study Raftelis Financial Consultants, Inc. Page 24 SECTION 4: RATE DESIGN The revenue requirements and cost of service analysis described in the preceding sections of this report allocate the costs equitably amongst the different customer classes. Rate design is the process of developing rate schedules for each customer class such that the annual cost of service determined for each customer class is equitably recovered from the customers in that class. In this study, the focus of rate design is on the development of rate schedules for each of the City’s retail service customer classes. This subsection of the report discusses the current water rate structure and develops a schedule of water rates for the City’s residential customer class and rates for the non-residential class that meet the City’s objectives of equitable collection of costs and efficient use of resources. Finally, this subsection analyzes the impact of the proposed cost allocations and rate design on residential customers. Proposed Rate Structure Rate structures should be designed to ensure that customers pay their proportionate share of costs. In addition, rate structures should be easy to understand, simple to administer, and comply with regulatory requirements. A review of the current rate structure provides insights into the equitability of the current methodology and changes, if any, that should be considered. Proposed Changes RFC proposes that the City retains the current tiers and rate structures for both residential and non- residential customers because the current rate structure differentiates rates by customer class consistent with typical peaks observed for the different classes; tiered rates are generally provided for homogenous classes such as the residential class and uniform rates for non residential classes because individual customer’s usage can vary significantly. Several factors are considered in the rate design process including efficient use of resources, conservation to meet regulatory requirements, and revenue stability to mitigate some of the risks associated with high dependence on variable revenues from sales. Additionally, RFC recommends that the City increase the fixed monthly service charge to collect approximately 15 percent of total rate revenue from fixed charges. In the current fiscal year, the City will collect 9.8 percent of total rate revenue from fixed charges. The California Urban Water Conservation Council (CUWCC) Best Management Practice (BMP) # 11 recommends a maximum of 30 percent rate revenue from fixed charges. The fixed charge proposed is well under the 30 percent and should still provide incentives for conservation and efficient use of water. The City has expressed an interest in examining current rate structures, including an evaluation of charging different rates for customers in different zones such as the foothills, and an evaluation of master metered MFR customers’ rate structures. A review of the costs pertaining to servicing customers in the higher elevations of the City’s service area revealed that there were additional costs to pump water up to the customers and storage reservoirs in the foothills, but that the foothills reservoirs provided water storage and fire fighting reserves for all customers in the City and were not just for the customers who reside in the foothills. Due to the design of the water distribution system and the use of the foothills reservoirs, and since the pumping costs Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 25 would have to be incurred for all customers, it is concluded that there were no significant additional costs identified to serve the customers in the foothills and, therefore, there is no justification for imposing different rates for customers in these areas. An examination of current commodity rate for master metered MFR customers was also done. The individually metered MFR customers have the same rate structure as single family residential (SFR) customers in the Residential W1 class and master metered MFR customers are charged the uniform commercial rate. Mastered metered MFR customers are not individually metered and the water bills are not paid directly by MFR customers but rather by the landlord, the property owner or the home owners association. Meters can vary in size from a small 5/8” meter to 4” or larger meters. Additionally, a master metered MFR account may have a separate irrigation meter or a meter that provides both domestic as well as irrigation use. Typically, as more users are served by a single meter, or as customers get larger, their peaking use reduces. While many agencies treat all residential customers, SFR and MFR, as a single class, master metered MFR customers are more likely to have lower peaking factors similar to commercial customers. Finally, typically a utility’s data on the number of dwelling units for each master metered MFR customer may not be readily available for each meter and/or the billing system may not be set up to bill each account based on the number of dwelling units. If the City were to charge the master metered MFR class the same rate as the Residential W1 class, it would have the option of either tiered MFR rates or a uniform rate. The uniform rate option would result in a rate that is slightly higher than the uniform commercial rate based on customer class cost of service. Since the number of dwelling units associated with a master meter can vary significantly, tiered rates for master metered MFR customers are typically based on the number of dwelling units assigned to each account. To use tiered rates for MFR customers, the data regarding the number of MFR units per account and the usage per account both would need to be identified so that the appropriate tiers could be defined. The City is investigating ways to obtain this data reliably and cost effectively. At the current time, the water system does not have the number of dwelling units identified for the master metered accounts and implementing tiered rates for these customers is not practical. Also, since the MFR customers do not pay the bill themselves, or they pay a portion of a shared bill that may not represent their individual use, sending a conservation signal to these customers through tiered rates may not be very effective. Additionally, the billing system should be capable of billing each account based on the number of dwelling units. Considering the different factors, RFC recommends that master metered MFR customers continue to be billed at the commercial uniform rate since their peaking factors are similar to commercial customers. Monthly Meter Service Charges A service charge is a cost recovery mechanism that is generally included in the rate structure to recover some of the fixed costs including meter and customer related costs, and a portion of the capacity related cost to provide a stable source of revenue independent of water consumption. Customer related costs are fixed expenditures that relate to operational support activities including accounting, billing, customer service, and administrative and technical support. The customer related costs are essentially common-to-all customers that are reasonably uniform across the different customer classes. In addition, there are capacity related costs such as meter maintenance and peaking charges that are included based on the hydraulic capacity of the meters. Since facilities are designed to meet peaking requirements, RFC has assigned a portion of the costs related to peaking to the service charge. Increasing the fixed charge reduces the variable rates and incentive for conservation, but Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 26 provides a mechanism for recovering a portion of the fixed costs and ensures a stable source of customer revenues for the utility. A good rate design seeks an appropriate balance between these pricing objectives. A guideline used in deciding the amount of revenue that should be recovered from fixed charges is provided by the CUWCC’s Best Management Practice #11 which states that the maximum amount of the fixed revenue should not exceed 30 percent of the total rate revenue. The City collects approximately 9.8 percent of the total rate revenues from the fixed service charges in FY 2012 due to a rate increase implemented in October 2011. However, if the current rates are in effect for the entire fiscal year, the City would collect approximately 11 percent of its rate revenues from fixed service charges. The cost of purchased water is allocated to the variable commodity rate and as it increases, the total fixed service charge revenue decreases. RFC’s rate design allows 15% of the total rate revenues to be collected from fixed charges. The Meter Unit Cost, determined in the previous section, is multiplied by the meter capacity ratios from the AWWA M22 Manual Sizing Water Service Lines and Meters to calculate the Meter Capacity Cost. The Meter Capacity Cost is then added to the Customer Service Cost to compute the cost based service charge shown in the right hand column of Table 4-1. Table 4-1 Proposed Monthly Meter Service Charges Calculation Commodity Rates The commodity rate is the rate developed for each customer class which will recover the City’s variable volume related costs. The annual estimated FY 2013 revenue requirement, less annual cost based service charge revenues, are the revenues that need to be recovered through commodity rates. Cost of service based commodity rates are developed for each customer class based on the principle of maintaining inter-class and intra-class revenue neutrality and equity. This means that each customer class would only pay its assigned share of costs of service (Refer to Table 3-7 for revenues required from each customer class), and that each member of each class would only pay his or her fair share of customer class costs. Since a portion of the revenues required from each customer class is to be recovered through uniform monthly service charges, commodity rates are designed to recover only that portion of revenues that is not recovered through the service charge. Annual service charge revenues for each customer class for FY 2013 are calculated based on the forecast number of meters by size in a given class and the COS based monthly service charges calculated in Table Meter Size Meter Ratio No. of Meters Meter Capacity Cost Billing Cost Proposed Charge Current Charge Difference 5/8" 0.67 14,884 $9.07 $4.66 $13.74 $10.00 37% 3/4" 1.00 574 $13.61 $4.66 $18.28 $10.00 83% 1" 1.67 2,604 $22.68 $4.66 $27.35 $13.00 110% 1 1/2" 3.33 613 $45.36 $4.66 $50.03 $27.00 85% 2" 5.33 790 $72.58 $4.66 $77.25 $43.00 80% 3" 11.67 93 $158.77 $4.66 $163.44 $114.00 43% 4" 21.00 57 $285.79 $4.66 $290.46 $195.00 49% 6" 43.33 23 $589.73 $4.66 $594.39 $406.00 46% 8" 80.00 13 $1,088.73 $4.66 $1,093.39 $644.00 70% 10" 126.67 0 $1,723.82 $4.66 $1,728.48 $644.00 168% Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 27 4-1. Table 3-7 shows the total assigned cost by class, the annual costs recovered from the service charge, and the annual costs that are to be recovered from the commodity rate. The water commodity rate for each customer class is computed based on the customer class’ annual usage revenues required and the estimated annual volume of water usage. The cost based commodity unit rate is shown in Table 4-2. The customer classes can be sorted into groups with similar peaking characteristics and a uniform water commodity rate is calculated for each class of customers. The City currently differentiates between Residential W1 class and all other classes for rate design. To encourage conservation within an overall cost of service based rate design, Residential W1 rates are tiered. Many agencies across the state use such a structure to encourage conservation. The State of California also encourages use of conservation rate structures. RFC recommends the City retain its existing tiered rate structure to encourage conservation. Tiered rates are more practical to implement for the individually metered residential class because this class is a fairly homogenous class. The first tier is designed to provide low volume domestic demand usage inside the residence; since it does not put much demand on the system, the first tier usage is provided a lower rate by excluding peaking costs. All residential customers will receive the lower first tier rate. The second tier is designed to recover the remainder of the revenues from this class based on the COS and also sends a pricing signal that may encourage conservation. All remaining customers including non-residential, master metered MFR and irrigation customers will continue to be charged a uniform rate based on COS. These customer classes are not ideally suited for tiered rates because of their non-homogenous character. Master metered MFR and commercial customers have very similar peaking factors which are lower than Residential W1 peaking factors and thus receive a lower uniform rate. Irrigation customers with higher peaking factors are charged a higher uniform rate. Table 4-2 shows the current and proposed rates for the different customer classes. Proposed rates for FY 2013 include a 15 percent revenue increase over current rates. Table 4-2 Proposed Commodity Rates Calculation The increase in the fixed monthly service charge and the increase in the rate for the first tier consistent with the cost of providing service will impact low volume customers. These impacts are described in Section 5. Customer Class Tier (ccf) Total Usage Revenue Required Rate ($/ccf) Current Rates Difference Residential - W1 Tier 1 6 985,748 $4.54 $3.60 26% Tier 2 over 6 1,453,694 $7.06 $7.34 -4% Subtotal 2,439,441 $14,724,463 $6.04 $5.83 4% Master MFR/Commercial - W4 2,135,093 $12,275,545 $5.75 $4.93 17% Irrigation - W7 417,332 $2,997,408 $7.19 $7.86 -9% Fire Service - W3 1,304 $0 $10.00 $10.00 0% Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 28 Monthly Fire Meter Service Charges Fire service charges are assessed to private fire protection meters. Based on the cost of service analysis discussed above, a portion of the total costs are allocated to private fire protection. The proposed monthly charges are shown in Table 4-3 below. Table 4-3 Proposed Monthly Fire Meter Service Charges Proposed Water Rates The proposed water rates for FY 2013 are shown in Table 4-4 below. Meter Size No. of Meters Proposed Charge Current Charge Difference 2" 0 $3.31 $3.63 -9% 4" 226 $20.45 $7.27 181% 6" 217 $59.38 $16.13 268% 8" 134 $126.54 $28.53 344% 10" 7 $227.56 $44.48 412% Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 29 Table 4-4 Proposed Water Rate Schedule General Monthly Meter Service Charge Meter Size Effective July 1, 2012 5/8" $13.74 3/4" $18.28 1" $27.35 1 1/2" $50.03 2" $77.25 3" $163.44 4" $290.46 6" $594.39 8" $1,093.39 10" $1,728.48 Monthly Fire Meter Service Charge Meter Size Effective July 1, 2012 2" $3.30 4" $20.44 6" $59.38 8" $126.54 10" $227.56 Commodity Rate ($/ccf) Effective July 1, 2012 Residential - W1 Tier 1 0 - 6 ccf $4.54 Tier 2 over 6 ccf $7.06 Master MFR/Commercial - W4 $5.75 Irrigation - W7 $7.19 Fire Service - W3 $10.00 Palo Alto Water Cost of Service and Rates Study Raftelis Financial Consultants, Inc. Page 30 SECTION 5: CUSTOMER IMPACTS RFC performed an analysis to evaluate the impact of the proposed rate structure on customers with various water usage levels. The impacts of each of these changes among customer classes and within customer classes are discussed below. Residential Customer Impacts For Residential W1 customers, the bill impacts at various usage levels assuming a 5/8” meter are shown below in Table 5-1. Low volume users see higher impacts due to the increase in the meter charge and the first tier rate. The very high use represents the top five percent of the annual bills starting at 34 ccf monthly. Table 5-1 Residential W1 Customer Impacts Note: Assumes 5/8” meter Non-Residential Customer Impacts Under the proposed rate structure, Master metered MFR/Commercial W4 and Irrigation W7 customers’ rate impacts vary depending on the meter size and the level of usage for each customer. Table 5-2 shows an example of the impacts at different usage levels. Table 5-2 Non-Residential Customer Impacts Note: Assumes 1” meter for Master MFR/Commercial customers and 2” meter for Irrigation customers Usage Monthly Level Usage (ccf) Current Bill Proposed Bill % Change $ Change Very Low 4 $24.40 $31.90 31% $7.50 Low 8 $46.28 $55.10 19% $8.82 Average 12 $75.64 $83.34 10% $7.70 High 20 $134.36 $139.82 4% $5.46 Very High 34 $237.12 $238.66 1% $1.54 Monthly Usage (ccf) Current Bill Proposed Bill % Change $ Change 10 $62.30 $84.85 36% $22.55 25 $136.25 $171.10 26% $34.85 50 $259.50 $314.85 21% $55.35 30 $278.80 $292.95 5% $14.15 60 $514.60 $508.65 -1% ($5.95) 90 $750.40 $724.35 -3% ($26.05) Master MFR/Commercial - W4 Customer Class Irrigation - W7 Irrigation - W7 Master MFR/Commercial - W4 Master MFR/Commercial - W4 Irrigation - W7 Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 31 SECTION 6: RATE SURVEY The City conducted a water rate survey with neighboring utilities. Rate surveys can provide insights into a utility’s pricing policies related to service. Care should be taken, however, in drawing conclusions from such a comparison as some factors including geographic location, demand, customer constituency, level of treatment, level of grant funding, age of system, sources of water costs, and rate-setting methodology can affect the cost of providing services. The following table and figures show the comparison between the City’s current and proposed rates with those of neighboring utilities. Table 6-1 Comparison of Neighboring Utilities Figure 6-1 Comparison of Neighboring Utilities – Total Water Bill Agency Monthly Meter Charge Commodity Charge Total Bill As of Santa Clara $9.20 $26.91 $36.11 7/1/2011 Mountain View $6.75 $30.48 $37.23 7/1/2011 Los Altos - CWS $13.41 $27.07 $40.48 1/1/2012 Redwood City $19.64 $26.38 $46.02 7/1/2011 Palo Alto - Current $10.00 $43.62 $53.62 10/1/2011 Bear Gulch - CWS $14.08 $40.61 $54.69 1/1/2012 Palo Alto - Proposed $13.74 $48.42 $62.16 7/1/2012 Note: Assume 5/8" meter and 9 ccf per month usage $36.11 $37.23 $40.48 $46.02 $53.62 $54.69 $62.16 $0 $20 $40 $60 $80 $100 Santa Clara Mountain View Los Altos - CWS Redwood City Palo Alto - Current Bear Gulch - CWS Palo Alto - Proposed Total Water Bill Comparison - 5/8" meter and 9 ccf Monthly Meter Charge Commodity Charge Palo Alto Water Cost of Service and Rate Study Raftelis Financial Consultants, Inc. Page 32 Figure 6-2 Comparison of Neighboring Utilities – Monthly Meter Charge $6.75 $9.20 $10.00 $13.41 $13.74 $14.08 $19.64 $0 $5 $10 $15 $20 $25 Mountain View Santa Clara Palo Alto - Current Los Altos - CWS Palo Alto - Proposed Bear Gulch - CWS Redwood City Monthly Meter Charge Comparison - 5/8" meter Excerpted Draft Minutes of the March 27,2012 UAC Meeting NEW BUSINESS ITEM 1:ACTION:Water Utility Proposed Rate Adjustments Effective July 1,2012 Chair Foster called for public comments on the item. Public Comment: Joe Baldwin,President of Waverley Park condominiums,spoke about how the ten condominiums pay commercial rates for water,but residential rates for sewer.Since they are residential customers,they want to be on the residential rate for water with the first usage tier calculated by multiplying the W 1 first usage tier by the number of units.The homeowners association began through the long process to get remedy for the issues raised long ago and was told that only the Council can make a decision so they have been following the process, which starts here with the UAC.When reviewing staff’s proposal,they saw that their issue was not addressed except for a small mention in the cost of service study.He views the issue as one of fairness and doesn't understand why CPAU can't address this issue and "eliminate this inequity."He stated that,if it's a billing system issue,then CPAU should address this issue. Chair Foster clarified that commercial customers and master metered multi family units,are billed a rate that includes a fixed charge and a volumetric rate.Staff confirmed this understanding. Senior Resource Planner Ipek Connolly provided a presentation of the written report.She noted that the City's water supplier,the San Francisco Public Utilities Commission (SFPUC) lowered its wholesale rate projection for FY 2013 after the UAC reviewed the water financial forecast presented in February.This caused staff to lower the recommended revenue increase to 15%,or $4.7 million.The need for the revenue increase is to pay for infrastructure investments both for CPAU's local system and for SFPUC's and to account for lost revenue due to lower sales than anticipated.As staff has been communicating for some time,SFPUC rates have increased and are expected to continue increasing for the next 5 years.The City engaged Raftelis Financial Consultants (RFC)to conduct a cost of service study to develop rates compliant with Proposition 218.After UAC review,the Finance Committee will review the rate proposal on April 18.If approved by Council in June,the rates will become effective on July 1, 2012. Sudhir Pardiwala,Vice President of RFC,presented a summary of the Water Cost of Service Study.Pardiwala reviewed the objectives of the study and the proposed 15%revenue adjustment for FY 2013.He reviewed the cost of service concept,which is to follow the American Water Works Association methodology to assign costs to meet peak usage to those contributing to peak usage.The revenue requirement is then allocated to cost components and these costs are allocated to each customer class based on their usage characteristics.Finally, the rate structure and rate design is done to collect the revenue requirement from each class of customers. ߬¬¿½¸³»²¬Û Pardiwala discussed the rate structure review and noted that RFC recommended continuing with the existing rate structure and customer classes.This would mean that individually metered residential rate W 1 would retain 2 usage tiers,but should increase the amount of revenue collected from the fixed monthly charge.RFC found no justification to charge different rates for customers in higher elevations and recommended continuing to use the W 4 rate for master metered multi family residential customers.Pardiwala noted that the W 4 volumetric rate was lower than the average volumetric rate for W 1 rate schedule since they have a lower peaking factor. Overall,RFC recommends increasing meter charges for all customers to collect 15%of revenues from these fixed charges.For W 1,the recommendation is to increase the first tier volumetric rate while reducing the second tier rate.The average volumetric rate for W 1 is increased by 4%.The W 4 volumetric rate is increased 17%and the W 7 irrigation rate is reduced 9%.The customer impacts were shown for each customer class for a variety of usage levels.Overall, CPAU's rates are higher than most of the neighboring communities,but the comparison does not include rate adjustments that other agencies may undertake this year. Chair Foster asked if master metered multi family residences can install single meters for each individual housing unit and,if they did,what rate schedule would they be on.Connolly said that it is possible to replumb and install separate meters,but there are costs to do that,and,if they did,they would be on the W 1 rate schedule.Chair Foster asked Mr.Baldwin if he was proposing to be on the W 1 rate and pay the tier 1 rate for usage up to 6 ccf and pay the tier 2 rate for usage above that.Mr.Baldwin said that the usage for the 10 units ranges from 37 to 44 ccf per month so that the per household is much lower than 6 ccf per household. Commissioner Keller asked if the cost allocation is driven by peak usage.Pardiwala responded that the costs are allocated by how the customers use the system. Commissioner Keller asked if the cost of the water relates to how much we use relative to how much is used by other communities who buy water from SFPUC.Pardiwala responded that if you use more water,it will cost more from SFPUC and that cost is figured into the rates.SFPUC looks at the amount of water it sells to the wholesale entities and uses that to determine how to set the rate to collect the total amount it needs to cover its costs.If more water is used, then the unit rate goes down.Ratchye added that the volumetric rate charged to each BAWSCA entity is the same and doesn’t depend on how much each agency uses.So to the extent Palo Alto can reduce its share of the total water use,its costs are reduced,but the rate charged by SF is set to recover its costs. Commissioner Waldfogel asked what percentage of the actual system capacity is consumed at the max hour.Pardiwala said we know average,max day and max hour usage so if you are looking at it as how much you use as a max day basis,it is 1.5 times the average day. Commissioner Waldfogel said that the system is somewhat overdesigned and that the system would be overloaded if all meters used the max amount at the same time.Pardiwala confirmed that this is true and that the system takes into account the fact that people use the system at different times and not all at once. Commissioner Eglash asked for the justification for multiple tiers for residential customers within the cost of service study.Pardiwala said that there are many reasons for tiers for residential customers.Many agencies have different water supplies which are priced differently so that the higher priced water is incorporated into the higher priced tiers.Another factor that is taken into account in tiers is the peaking costs that are passed on to send the proper signal to encourage conservation of a precious resource.Since residential customers are a relatively homogeneous customer class,tiers are able to be used equitably.Most agencies have this inclining tier structure to encourage conservation since residential customers are the most amenable to this type of rate design. Commissioner Eglash commented that the comparison of Palo Alto's bills and rates,including volumetric rates,are all higher than surrounding communities,but all the agencies get their water from the same source at the same price.Pardiwala said that the cost of water is about 50%of the total costs and the other costs such as CIP and operating costs are the other 50%of the costs that are recovered by rates.Other differences are type of system,age of the system, how it was financed,size of agency,number of customers,etc.Ratchye added that the surrounding agencies do not all get all their water from SFPUC.For example,Santa Clara only gets a small fraction of their water supplies from the SFPUC and that the majority of the water is groundwater and treated water from the Santa Clara Valley Water District.Commissioner Eglash added that,although the costs are not a part,per se,of the cost of service study,CPAU should be prepared to explain why our water rates are already so high and we are being asked to raise them even higher.He noted that we may need to remind them that not all entities get all of their water from the SFPUC and that CPAU has been doing a great job replacing aging infrastructure.This is an important issue for public communicators to gain support for the higher rates. Commissioner Melton stated that the proposed $13.74 fixed meter charge is close to the meter charge being considered for FY 2013 last year.Connolly confirmed that the charge considered last year was $14.95.Commissioner Melton asked how much of the fixed cost is covered by the fixed charge revenues.Pardiwala said that the fixed charges cover about 15%of the total revenues and fixed costs are about 45%to 50%of the total costs.However,Pardiwala stated that the California Urban Water Conservation Council guideline is to collect no more than 30% of the total revenues from fixed charges. Chair Foster asked about fire meters,which are proposed to increase by an extraordinary amount,for example from $44.48 to $227.56 for a 10 inch meter.Pardiwala said that the costs recovered from these accounts were not covering the costs that are put on the system and said that the charges are not out of line for that size of meter.Chair Foster stated that it sounded like we are doing a major catch up of revenue to costs and said that these large increases need to be communicated carefully to the affected customers who will be hit with very large cost increases. Commissioner Eglash asked who generally pays for fire meters.Resource Planner Eric Keniston stated that fire service charges apply to any building with fire sprinklers in the building.The system must be able to provide water when needed in a fire.Fong stated that this was a small part of the total revenues. Commissioner Keller asked if there was a consideration to add more tiers to residential rates or if additional tiers were considered at all if the goal is to lower demand.Pardiwala said that in this case there was an effort to tie the costs to the rate structure so there needs to be a rationale for additional tiers.Since there is no difference in costs for source of supplies,this cannot be used to justify additional tiers.In Palo Alto’s case,the justification for tiered rates is to assign peaking costs to the second tier.A third tier could be developed,but some justification would be needed.If a third tier was added and,for example,the second tier rate was set equal to the average cost for the customer class,then the third tier rate would be very high.The study did take a look at that and,if the third usage tier was set at 24 ccf,which represents about 85%of the usage of the customers,then the third tier rate would be about $10/ccf.Since the second tier in the proposed rate is already quite high at $7/ccf,a third tier did not seem to be justifiable. Chair Foster clarified that a third tier could be justified.Pardiwala stated that it could be justified and it would send a very strong signal for conservation,however he cautioned that there could potentially be a large negative customer reaction to that high of a rate. Commissioner Waldfogel added that the idea of third tiers was rejected by Council last year based on advice from the City Attorney and didn’t see any point in revisiting the idea of adding a third tier.Chair Foster noted that in answering the question posed,RFC stated that a third tier could be justified.Chair Foster asked the consultant to clarify that the cost of service study is driven by the need to comply with the cost of service requirements of Proposition 218. Pardiwala confirmed this understanding.Chair Foster asked if also the study was completed within the understanding of a somewhat conflicting state law requiring conservation pricing for water.Pardiwala said that his report is based on cost of service and was not focused on conservation pricing,but that the rates do encourage conservation as they are quite high, especially for the second tier. Commissioner Melton observed that the tier 2 residential rate is very similar to the w 7 irrigation rate and this is good signal since it is generally thought that the second tier is for irrigation usage in single family residential customers.There is a very consistent tie between these two and it is a good link. Vice Chair Cook asked why the rate proposed seems to punish smaller users.Pardiwala said that these were the rates that fell out from the cost of service.Connolly stated that the biggest change is the increase in the fixed charge and this hits the smallest users hardest in terms of a percentage increase.Fong reminded the UAC that last year we had a significant discussion on the issue of fixed charge and last year the decision was made to phase in the increase in fixed charge increase over two years,rather than take it all the way to cost of service in one year. This is the second year of the two year phase in so staff is proposing to move to the cost of service study recommendation for the fixed charge. Vice Chair Cook asked if the percentage changes would be similar for each customer class in future years.Pardiwala stated that this should be true.When the base is set at cost of service, the adjustments in future years should be very similar for each customer class unless there are changes in the cost structure or different usage patterns for customers classes.Vice Chair Cook stated that although the changes appear to discourage conservation,we are doing a one time change to have costs reflected in the rates.Pardiwala said that this was the case.Chair Foster asked for more clarity on this point and,as an example,asked if the revenue increase needed was 10%,then would the changes for each rate component be 10%and not disproportionate on a class or a rate component.Pardiwala stated that this should be true unless the cost structure changed. Commissioner noted that the rates still don’t reflect the fact that all fixed costs are recovered through fixed charges,however,there may be political limits on how much can be recovered that way. Commissioner Waldfogel asked how difficult it would be in the billing system to base a W 4 rate on a per unit basis for master metered multi family residential customers.Fong said that it would take significant staff time to get the data and change the billing system to do this.We know the number of units for some multi family complexes,but not for all.Commissioner Waldfogel asked if there was a large range in the number of units per complex.Fong responded that there is a large range in the number of meters.Commissioner Waldfogel asked if we couldn’t establish a first tier at,say 50 ccf,for these customers.Pardiwala said that if this class were to be treated separately,that each account would have to have an associated number of dwelling units in the billing system and that the tier 1 rate would likely be lower than that for single family dwellings since the use is generally less water per dwelling –it could be 4 ccf,instead of 6 ccf for the first tier,for example.The appropriate tiers would be determined after analysis including a review to ensure that the revenues would be recovered appropriately. Commissioner Keller asked if there was a concern that the water system would be strained by peak water usage and that we would run out of capacity or should we establish rate schedules to reduce peak usage.Ratchye replied that Engineering would provide the best answer to this question,but that the City’s overall water use today is 40%less than it was in 1976 so usage is unlikely to be reaching system capacity. Commissioner Eglash stated that he supported many of the components of the proposed rates, but has a great concern about a couple of them.He said it was appropriate to do cost of service studies and base rate structure changes on those conclusions,but maybe not appropriate to make the jump in one year if the impact on customer bills would be significantly impacted.For example,the fire service charges are increased so dramatically that the change should be phased in over time,rather than so abruptly all at once.The comments on master metered multi family units are well taken,but he does not think a solution should be proposed for just one building and the UAC does not have the information to develop a new rate for this class at this time,but supports staff looking into the problem and making some recommendation in the future.The biggest issue he has with the proposed changes to residential rates are not appropriate and it is socially unfair to have the smallest users hit with the largest percentage increase and while the largest users enjoy a bill and rate reduction.This is a big mistake and highly inappropriate in terms of water conservation and social fairness. Commissioner Eglash said he was not focused on the rates themselves,but the changes,which are what people relate to.Those least able to pay and those doing the best job of conserving water will see the largest increases with the effect that the incentive to conserve is reduced. The idea that we are encouraging water efficiency,but giving the largest users a rate decrease is not appropriate.Eglash noted that he had not had the opportunity to consult with the City Attorney on Prop 218,but nevertheless,he stated that it seems that we are behaving with an overabundance of caution on this issue.Regarding last year’s Palmdale case,the legal reviews did not relate to tiered prices,but to parity between classes.Eglash remarked that his view is that we should not use Proposition 218 to back away from the tiered pricing we have now.The rates being proposed by staff level off the tiers and Commissioner Eglash does not support that change.Commissioner Eglash stated that he would prefer to increase the tier 2 rate so that the smallest users see less of an increase and the largest users do not see a rate reduction.He advised that it's important not to make such a significant change to the relative rates for the tiers.He said he would support increasing the fixed charge,but not increasing the tier 1 charge so much and did not support a decrease in the tier 2 charge.He stated that the tier 2 charge should definitely not go down. Chair Foster asked if Commissioner Eglash would propose to keep the tier 2 charge the same or increase it.Commissioner Eglash stated that he did not have the mathematical models to design the rates,but was stating his policy preferences.He noted that the revenue requirement must be met,but that there should be a way to do that while increasing the fixed charge as proposed,but not decreasing the tier 2 charge since that has an unfortunate effect of reducing the water bill for those most able to pay. Commissioner Melton suggested that if the W 1 tier 2 rates were kept at the same level,then the tier 1 rate could be reduced such that the total revenue collected from the customer group would be the same so that the revenue would be equal to the cost of service for the customer class as needed for Proposition 218. Commissioner Waldfogel said that these rates were constructed after legal advice developed last year and that changing the rates without the mathematical model is hazardous.He suggested that,perhaps,legal advice is needed and that the proposed rates are the ones presented as being based on the cost of service.He said that the proposed rates are the ones that are consistent with advice received and that no changes should be proposed,but that the UAC could take up a study item for future rate design decisions.Commissioner Eglash agreed that the UAC did not have the advantage of having advice from the City Attorney,but he wants to make a recommendation based on what they do have in front of them tonight.He stated that the Finance Committee and Council will likely have that advice available.Commissioner Eglash said that he has not heard any information or evidence from the consultant that pulling back from the City’s current degree of conservation pricing would expose the City to risk of litigation. Commissioner Keller said that she is still interested in having a third tier,if that is legal,to provide a strong message to conserve water.She said that tier 1 seems to be the indoor water use and tier 2 is for irrigation,but that a third tier could be for wasteful irrigation.Such a structure would provide a strong motivation to cut back on irrigation. Commissioner Cook stated that he wants the City’s policy to ensure that Palo Alto’s rates are fair and that they are structured to encourage conservation. Chair Foster announced that he had received another card from the public wishing to comment. Public Comment: Mr.Buchanan,stated that,like Mr.Baldwin’s,his homeowner association cannot understand why their 8 unit condominiums are classified as commercial customers since it is residential in every respect.Also,he suggested that in this region of geniuses,we should be able to figure out a way to divide the amount of water by the number of units to develop a rate.The wastewater rate is already based on the number of units so the number of units must already be known. Chair Foster agreed with Commissioner Eglash's suggestion to have staff work with master metered multi family residents to find an acceptable solution to the problem raised by the speakers.Chair Foster suggested that perhaps interested customers could request or apply to be moved to a different rate schedule.Fong stated that resources would be required to do the research and synch up the billing system and database for this change and that they would not want to do one offs with specific customers who request different treatment,but would ensure that all similarly situated customers are treated the same. Commissioner Eglash said that he could develop a recommendation to Council to ask staff to find a solution to the problem.He suggested that some study needed to be done since he didn’t want to see any unintended consequences and wanted to hear what would need to be done to address the issue.He suggested that it was not an issue that needed to be studied by the cost of service consultant as it was not that kind of issue.He expects that staff can identify the problem and find a solution.He is not convinced that a cost of service study needs to be done to address each customer class.Commissioner Eglash added that a cost of service study does not need to be done every year or every time rates are changed,but should only be done once every other year or every five years.Fong said that it would be good to have a third party to develop what the rate should be,but the data first needs to be collected. Chair Foster made a motion,seconded by Commissioner Melton,to recommend Council: 1.increase revenues by 15%as recommended by staff; 2.accept staff's recommendation for commercial W 2 rates; 3.not change specific rates in such a way that violates the requirement of California law that water utilities pursue conservation pricing and,therefore,change the W 1 rate as follows: a.do not change the tier 2 rate from the current rate of $7.34/ccf; b.decrease the tier 1 rate in order to collect the revenue requirement for the W 1 class;and 4.direct staff to find a solution to the treatment of master metered multi family residential customers as commercial customers; 5.increase the W 7 rate from the proposed rate of $7.19/ccf to be at least the same rate as the W 1 tier 2 rate ($7.34/ccf);and 6.phase in the fire service increases over four years. Commissioner Cook seconded the motion. Commissioner Cook made a friendly amendment to the motion to remove the part to phase in the fire service increases.He said that this change was least important and that they were already recommending a number of more important changes that should be the focus of their direction.Commissioner Eglash agreed that their recommendation should be focused on the most important issue at hand.Chair Foster accepted the amendment to the motion. Commissioner Waldfogel stated that he was very strongly opposed to the motion as it exposes the city to too much legal risk.He recommended recommending the rates staff proposed.He said that the UAC could take up the issues raised in the future,but should not do that now as the cost of service study has concluded that the proposed rates achieve the cost of service requirement of the law.He said that making these changes on the fly is rash.He said that we the UAC has no information that the rates in the motion will be based on the cost of service. He also said that raising the irrigation rate (W 7)is also counter to legal advice. Commissioner Eglash said that the changes recommended in the motion are modest changes as they only change by a small amount and keep the cost of service by customer class objective met.Commissioner Melton said that the W 1 tier 2 rate of $7.34 is an established rate so there is little risk under Proposition 218 if it is simply maintained.Chair Foster said that rather than drop the W 7 rate from the current $7.86/ccf to $7.19/ccf as proposed,it could be made the same as the W 1 tier 2 rate of $7.34 since this rate is really for irrigation. Commissioner Eglash cautioned against changing the W 7 rate at all as it gets to the heart of the cost of service study and changes allocations between customer classes and serves to undermine the changes that they are really trying to do.Commissioner Eglash,therefore, proposed a friendly amendment to remove the recommendation to change the W 7 rate. Commissioner Melton agreed with Commissioner Eglash that the UAC should stay away from moving costs between customer classes.He said that the UAC should stay with the cost of service study recommendations for the average volumetric rates for each customer class, including the $6.04/ccf for W 1,$5.75/ccf for W 2,$7.19/ccf for W 7,since those do comply with Proposition 218.Commissioner Melton said that they can tinker around with the tier rates for W 1,but should ensure that the average rate stays $6.04 for W 1.Chair Foster agreed to take that part out of the motion.Commissioner Cook also accepted the amendment. Commissioner Eglash proposed another friendly amendment to change the wording in the motion from:“not change specific rates in such a way that violates the requirement of California law that water utilities pursue conservation pricing”to “not change specific rates in such a way that undermines conservation pricing”.Chair Foster accepted that change,but reminded that the focus is always on Proposition 218,but the state’s constitution also requires conservation pricing.Commissioner Eglash said that it was Article 10,Section 2 that states that rates shall encourage conservation and efficiency. Director Fong said that a cost of service study was completed and it is a legitimate analysis and that you may want to phase in the results that are in the cost of service.Commissioner Eglash stated that the proposal in the motion is aligned with the cost of service study and there are no recommendations to shift cost from one customer class to another.The only suggestion is to make an adjustment in the tier pricing for the W 1 rates.Commissioner Eglash stated that the changes recommended are small and that the cost of service study results are still valid,but the development of the rate is misaligned by putting too much weight on peak usage instead of the need to conserve water.Further,because,water is a scarce resource and conserving it is of paramount importance the cost of service analysis is lagging behind what is needed in the current world in which we live.In addition,basing everything on peak demand is not realistic as we are not near the peak capacity of the system so to put so much weight on that factor is not reasonable. Chair Foster said that the requirement for conservation pricing is the driver of the motion and that the cost of service Commissioner Keller asked if the recommendation to address the master metered multi family customers could be taken up in a separate motion.Chair Foster agreed with that suggestion to remove that part of the original motion and offered to make a second motion with that recommendation. ACTION: Chair Foster?s amended motion,seconded by Commissioner Melton,is that the UAC recommends that the City Council: 1.Increase overall retail water rates and annual revenues for the Water Fund by 15% 2.Not change specific rates in such a way that undermines conservation pricing. 3.Amend the water utility rate schedules as recommended by staff except as follows: a.The volumetric charge for residential (W1 rates)tier 2 would remain at the current rate of $7.34 per ccf,not decrease to $7.06 per ccf as recommended by CPAU staff;and b.The amount of the increase in the volumetric charge for residential tier 1 would be recalculated and reduced so that the overall increase in volumetric charges for residential customers would increase by the amount recommended by staff, which is to the average rate of $6.04 per ccf. The motion passed by a vote of 5 1 with Commissioner Waldfogel opposed. Chair Foster made a motion to direct staff to investigate and make a recommendation on the apparent anomaly of charging master metered multi family buildings commercial rates for water.Commissioner Cook seconded the motion.The motion passed unanimously (6 0). FILENAME 1 FINANCE COMMITTEE Excerpt Special Meeting March 6, 2012 Water Fund Financial Projections (FY 2013-FY 2017). Valerie Fong, Utilities Director, reported the water supply rates from the San Francisco Public Utilities Commission (SFPUC) were lower than originally thought. Ipek Connolly, Senior Resource Planner, indicated the Staff Report used an earlier rate projection and, based on that, the revenue adjustment was 20 percent for the Budget Year, followed by 24 percent. She reported the revision in the SFPUC rate projections would create a 15 percent rate increase for Fiscal Year 2013 rather than 20 percent. Council Member Burt asked if that also affected 2014. Ms. Connolly answered yes. Council Member Price inquired if that would also be 20 percent. Ms. Connolly stated 15 percent in 2013, followed by 15 percent in 2014, followed by 9 percent, 3 percent and 2 percent. Chair Shepherd asked where that was located. Ms. Connolly indicated it was in the presentation material. Ms. Fong stated it was in Slide 9. Ms. Connolly noted the information had been revised with the updated SFPUC wholesale price. Chair Shepherd asked if the increase would be 15 percent rather than 20 percent in FILENAME 2 2013. Ms. Connolly responded that was correct. Chair Shepherd inquired if the other percent increases held. Ms. Fong replied the increase was 15 percent in 2014 rather than 24 percent. Ms. Connolly reported this was a five-year view, providing updated demand projections and updated cost projections. She noted these amounts could change next year; however, using today's information, these were Staff's projections. Ms. Fong stated projections changed yearly, due to different water years and different conditions. She stated these were the projections using information available today. Council Member Burt asked to see slide 11, a table version. Ms. Connolly indicated this was the base case, with results of the revised update in the second section. She noted the first section contained the rate adjustment differences, resulting average system rates with those adjustments and ending water rate stabilization reserve balances. She reported Staff was managing the reserves within the Council's approved guidelines in both cases. She explained Staff could utilize some of the excess in the reserves to request only a 15 percent increase. She stated the City was expected to reach the minimum reserves over the five-year forecast horizon. Chair Shepherd referenced the monthly residential water bill comparison, Packet page 12 of 13. She noted Palo Alto basically dominated the large user category for expense, and asked if that was because of the tier system. Ms. Connolly answered correct, and explained the second tier price was higher than other utilities' price for second tier. She noted as quantity increased, the difference became larger. She explained the large user category was at 29 CCF and covered up to 85 percent of customers in the summer, leaving only 15 percent of customers who used more than 29 CCF in the summer. Ms. Fong reported Staff's rate proposal presentation would include total revenues needed for the Utility and incorporate the cost of service analysis. She stated the difference between the classes would be reflected in the cost of service analysis. Chair Shepherd asked if it had been declared a drought year and when that information would be provided. FILENAME 3 Jane Ratchye, Assistant Director Utilities, stated it wasn’t going to be declared a drought year, because last year was wet and the amount of water in storage. Council Member Price asked Staff to clarify conservation pricing. Ms. Connolly explained conservation pricing involved pricing quantities of water consumed at increasingly higher rates. Ms. Fong stated the more you use, the more you pay. Ms. Connolly indicated the first 6 CCF was priced at $3.90 per CCF, and anything over that amount was priced at a higher rate. She noted progressively higher prices signaled customers to conserve water. Vice Mayor Scharff noted the Capital Improvement Budget as well as San Francisco's water rates were cost drivers. He asked if the increases were necessary, given the huge rate increases from San Francisco at the same time. He also asked if rates needed to be increased in these timeframes. Ms. Fong answered yes, in order to stay on track with infrastructure programs. She stated it would be better for the Committee to see the impact of all utilities in order to understand the bill impact. She indicated the gas and electric funds didn't add to the bills at this point, making this a good year to increase rates. Vice Mayor Scharff asked if Staff felt the FC should raise rates because of a bill impact perspective. Ms. Fong responded correct and because increases were needed for infrastructure upgrades. She stated projects could be deferred, but there were risks. Vice Mayor Scharff asked whether increases were necessary now. Ms. Fong replied yes. Council Member Burt appreciated the accuracy concerning the other utility contributions to the bill impact. He asked whether gas prices would decrease. Ms. Fong answered yes, based on preliminary analysis. Council Member Burt reiterated that the two larger components of utility bills would remain relatively stable or decrease, while water rates would increase. He indicated the good news was water rates were increasing less than projected, but still increasing FILENAME 4 quite a bit. He felt the Community would not look objectively at the entire bill, rather it would focus on the one utility increase. He stated rate increases produced a strong Community reaction. He explained the FC could say the Community was not viewing an increase from the correct perspective; however, the FC could not dictate Community perspective. He wanted to make sure there weren't items within the capital or rate stabilizations sides that could even out the increase. He agreed with Staff's assessment, but thought the FC should search for ways to level out the increase. He was willing to accept Staff's opinion that infrastructure projects should not be deferred. Ms. Connolly thanked Council Member Burt for his input. She pointed out that rates would need to increase to prepare for the cost increase for the City's water supply. She indicated the City could manage without rate increases for one year, but eventually the rates would have to increase. Council Member Burt thought customers were sensitive to the rate of increase. He preferred finding ways to moderate the rate of increase for these two years. If moderating rates was not feasible, he indicated the FC would accept that and explain it to the Community to the best of its ability. Ms. Fong did not recommend delaying seismic upgrades to water reservoirs. Council Member Burt stated the FC could convey to the public that increases were due to important capital projects or pass-alongs from the Hetch-Hetchy System and hoped they would appreciate that. Ms. Connolly reported Staff was evaluating bond financing for Capital Improvement Projects (CIP) expenditures and could return next year with that proposal. She explained financing CIP expenditures would reduce rate increases in the short term; however, rate increases would be greater in subsequent years in order to pay for debt service. She noted costs for bond financing might not be economical; therefore, Staff was reviewing alternatives. Council Member Burt noted rates for bond financing were exceptionally low. He asked Staff for a range of rates. Lalo Perez, Director Administrative Services, thought it would be in the 4 percent range. Joe Saccio, Assistant Director Administrative Services, said the Utility bonds were currently AAA rated which would drive down the interest rate. Mr. Perez reported the City negotiated 2.28 percent in the September refunding for FILENAME 5 water and gas. He said that would provide an idea of the interest rate the City could receive. Council Member Burt wanted to move that the FC ask Staff to provide an alternative to include bond financing. He asked if bond financing would cover only the seismic water system. Ms. Fong stated that would be for the increase in 2014, not necessarily the current rate increase. Council Member Burt inquired about Project 25. Ms. Fong replied it was a water main replacement, but she could not remember the exact location. She stated each of those was comparably priced out. She reported 26, 27 and 28 were the ongoing water main replacement projects throughout the City. Ms. Connolly noted an analysis of the bond financing was Attachment D to the Report. She reported the base case in Attachment D reflected the 20 percent rate increase in 2013, followed by 24 percent. Council Member Burt noted the FC's Packet attachments were not lettered. He suggested someone review this issue. Ms. Fong agreed. Council Member Burt asked if this would come back to the Committee. Ms. Connolly stated Staff planned to come back to the FC with proposed rate adjustments and include financials, revenue requirements and expected cost revenues. Ms. Fong indicated this was not an Action Item tonight, rather it was setting the stage for rate proposals. Council Member Burt thought colleagues were interested in the alternative of bonds. Vice Mayor Scharff was interested in a bond scenario; however, the analysis in the Packet indicated it wasn't feasible because it would cost more money without a substantial rate decrease. Council Member Burt asked Staff to explain the analysis. Ms. Fong noted these were not in the presentation. FILENAME 6 Vice Mayor Scharff repeated these were not in the presentation. Ms. Connolly explained the scenario called bond financing was in the Packet, and the FC needed to look at the outcome of that scenario. She stated she was only showing the final results in terms of expected rate adjustments, system average rates, and ending reserve balance. She reported the trajectory of price increase had to be compared to the base case. She indicated a larger rate increase would be necessary to prepare for the 2016 level of costs if rate increases were lower than projected. She noted in the other scenario the rates were already adequate to meet costs. She stated one way to compare these scenarios was to look at the system average rates. She reported customers' rates would be $10.83 per CCF with the bond financing after five years; whereas, customers' rates would be lower in the other scenario. She said the trade-off for lower rates in the short term was higher rates in the long term with additional bond financing costs. She noted the projections were all based on the earlier San Francisco numbers. She stated the rate increase was now at the 15 percent level, leading to lower cost expectations. Council Member Burt asked if both those figures in 2013 and 2014 would decrease approximately 5 percent, and if the system average rate would be reduced by about $1.20 on both figures. Ms. Connolly answered correct. Council Member Burt stated they kept their proportionality. Ms. Fong stated the bond interest rate was assumed to be 2.2 percent. Ms. Connolly indicated it was the same interest rate achieved in the water and gas deal. Mr. Perez noted a higher interest rate would cause greater rate increases. Council Member Burt said with the bond, rate increases would be approximately 10 percent, 14 percent and then higher than projected in 2015. Vice Mayor Scharff agreed. He thought 2015 flipped for 2013. Ms. Connolly reported Staff was expecting high costs, and the choices were a high increase in one year or gradually rate increases. She indicated an objective was to smooth out the annual rate increase as much as possible. FILENAME 7 Council Member Burt thought 15 percent each of the next two years would be viewed as significant bumps rather than gradual. Ms. Connolly stated it was better than the numbers they were looking at. Council Member Burt agreed. Ms. Connolly understood it was a high rate increase. Ms. Fong agreed, but the Staff's recommendation was to increase rates now in order to be positioned better for the future. Mr. Perez agreed with Council Member Burt's earlier comment to review the overall utility rates. He thought this would be a good view for the FC. Chair Shepherd inquired how reduced consumption affected the projections. Vice Mayor Scharff stated that made it worse. Chair Shepherd asked what was the message. Council Member Burt felt this was part of the discussion of the difference between rates and average bills. He stated if residents reduced consumption, the average bill didn't increase but rates did. Vice Mayor Scharff disagreed. He thought that happened in the short term. He explained if everyone reduced consumption, then system costs were fixed, which led to increased rates for a smaller quantity of water. Council Member Burt thought he said rates increased. Vice Mayor Scharff indicated the bills increased. Council Member Burt explained with reduced consumption, residents would have a higher rate and a lower consumption and those two canceled themselves out with a fixed cost. Ms. Fong thought reduced consumption resulted in a lower bill. She stated conservation would be in the consumer's favor even though the system average rate would have to rise with fewer units sold. Chair Shepherd thought the FC should plan for residents to use less water. FILENAME 8 Ms. Fong indicated Staff probably would propose moving slightly more costs into the fixed component in order to alleviate concerns about recovery of those costs. Council Member Price expressed concerns about marketing increased rates to the public, and thought this was an important issue. She suggested the message needed to provide residents with a clear context. Ms. Fong reported Staff was focused on that and would continue to improve its message. She indicated a major component of the rate increase was the SFPUC's cost increase. Chair Shepherd appreciated SFPUC's work in bringing the system up to standards.