By SHANNON HAUGLAND
Sentinel Staff Writer
The Assembly reviewed the financial health of the city enterprise funds and provided direction on rate increases for city services, at a special meeting Thursday.
For each of the enterprise funds – harbors, water, wastewater, electricity and solid waste – the Assembly voted on one of the three options for increases presented by city staff.
In general, lower rate increases would mean higher increases in future years, and higher increases would mean lower increases in the following two years, the Assembly was told.
Some increase in rates is needed to cover inflation and ensure that the city can maintain the infrastructure for basic city services, city staff members said.
They said they would use the feedback from the Assembly to continue building the fiscal year 2022-23 budget, which starts July 1. The rate increases suggested by the Assembly will be included in the draft budgets for the enterprise funds when they’re presented to the Assembly for final approval.
A story on the meeting and rate increase options considered by the Assembly will appear in Tuesday’s Sentinel.
