WILMINGTON, NC (NEWS RELEASE FROM CFPUA) - Last year when addressing revenue for Fiscal Year 2012, it was estimated that CFPUA would need to generate an additional 15+% to cover debt payments on bonds issued in 2008 and due in 2012. Through some project cost-saving measures, that revenue need was reduced to 13.1% and approved by the CFPUA Board yesterday during their regularly scheduled meeting.
The Board also made some changes to the rate structure. While retaining the tiered rate structure, the ranges for the tiers have changed. What was previously billed at 9,000 gallon blocks will now be billed at 12,000 gallon blocks. To illustrate; Tier 1 previously covering consumption 0 to 9,000 gallons will now be 0 to 12,000 gallons; Tier 2 previously 9,001 to 18,000 will become 12,001 to 24,000 and Tier 3 that included all consumption over 18,000 will become consumption for over 24,000 gallons.
Charges for irrigation were also changed. Irrigation through an irrigation meter previously charged at the 3rd and highest tier will now be charged at the 1st tier, and properties having a domestic meter and an irrigation meter will no longer be charged the fixed costs previously charged for their irrigation meter. Conservation of water for irrigation purposes is encouraged and information is available on our website through this link.
With these changes, models will need to be reworked to determine the actual cost per thousand gallons in each respective tier. Those figures will be published as soon as they become available. Rate changes are effective for bills rendered May 1, 2011.