Durham, City of
RFC has provided professional assistance to the City of Durham (City) since 1996. In 2006, RFC completed a study to update the City’s existing Water and Wastewater Rate and Financial Planning Model (Model), originally developed by RFC in 1996; update the City’s existing capital facility fees; and calculate certain miscellaneous utility fees and charges. Specifically, RFC updated the City’s Model to both reflect the current cost of utility operations and to evaluate the implications of various capital planning scenarios. In 2008, RFC was engaged to enhance the Model and to assist in evaluating and implementing conservation rates for the City. This work included developing recommendations for an appropriate conservation rate structure to meet the City’s pricing objectives, and which was developed within the context of a five-year financial forecast to address capital investment requirements. The City implemented the new tiered conservation rates in July 2009.
RFC was retained by the City in 2010 to provide oversight related to fiscal year 2011 rate recommendations. RFC also conducted a preliminary valuation assessment for the potential acquisition of an existing wastewater treatment facility. Most recently, RFC was engaged to provide a financial feasibility forecast and opinion letter for the City Series 2011 Revenue Bonds, and we have provided rate and financial plan support in both 2012 and 2013.