Raftelis has provided professional assistance to the City of Durham (City) since 1996. In 2006, Raftelis completed a study to: update the City’s existing water and wastewater rate and financial planning model, which was originally developed by Raftelis in 1996; update the City’s existing capital facility fees; and calculate certain miscellaneous utility fees and charges. Specifically, Raftelis 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, Raftelis 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.
Raftelis was retained by the City in 2010 to provide oversight related to fiscal year 2011 rate recommendations. Raftelis also conducted a preliminary valuation assessment for the potential acquisition of an existing wastewater treatment facility. In 2011, Raftelis was engaged to provide a financial feasibility forecast and opinion letter for the City Series 2011 Revenue Bonds.
Since that time, Raftelis has provided ongoing, annual rate and financial consulting services. Currently, we are conducting an economic feasibility analysis for a potential regional water treatment facility.