Click the link to read the article on the Fort Collins Coloradoan website (Pat Ferrier). Here’s an excerpt:
On Tuesday, the town trustees approved a 5% annual rate hike for 2024-2028 that would cost the average ratepayer and extra $5.37 per month in winter and $12.45 in summer, when more water is used to water lawns. New rates will go into effect Jan. 1. Trustees also approved an increase in capital investment fees paid by developers from $10,437 for water and $9,742 for wastewater per single-family home to $10,959 and $10,229, respectively. The 2024 base water rate will go from $49.71 to $52.20 and the usage rate will go from $11.70 to $12.29 for the use of 4,000 to 7,000 gallons.
This is not a new problem for Wellington, which raised water rates and impact fees in 2020 to pay for an expansion of its water and wastewater treatment plants, imposed water restrictions and limited new residential building permits until the expansions are complete. Once the water and wastewater treatment plant expansions are completed, they should accommodate additional growth for 20 to 30 years, which would generate more building and tap fees, allowing the water and wastewater funds to show a profit.
Currently, however, the water fund will be in a $593,000 hole in 2026 and the sewer fund $700,000 short…Trustees also approved transferring the maximum amount from the general fund to the water and wastewater enterprise funds to reduce the impact to residents. Enterprise funds may only receive up to 10% of the revenue received in the fund from taxpayer transfers through the general fund under the Colorado Taxpayer’s Bill of Rights, known as TABOR. The total transfer will reduce the general fund by $935,000 in 2023 and an estimated $1.06 million in 2024.