Financial Master Plan
As described above, the Water and Wastewater Master Plan will provide a prioritized listing of infrastructure improvements needed, along with a schedule and costs for these improvements. The District then must consider alternatives for financing this needed work, while still providing funding for all of the costs associated with delivering services. To properly identify and consider financing options, the District will prepare a Financial Master Plan, using the services of an expert consultant in this field.
To develop the Financial Master Plan the District will need to accomplish the following:
- Develop a Request for Proposal (RFP) for the Financial Master Plan.
- Include rate, fee, and charge analysis, methodology for property tax allocation, and alternative funding opportunities in the RFP.
- Conduct interviews and select a firm to prepare the RFP.
- Coordinate the Financial Master Plan with the Water and Wastewater Master Plan.
- Prepare a draft Financial Master Plan to be discussed with the Board and public.
The District is in the initial stages of developing the Financial Master Plan. The Financial Master Plan should be completed by mid-2010.