Board of Estimate & Contract:
RESOLVED, that a resolution adopted by the City Council on August 14, 2024, and signed by the Mayor on August 15, 2024, authorizing a Water Rate Increase Effective January 1, 2025 - (increase by 18.1%, resulting in a $0.66 increment in the billable rate from $3.64 to $4.30 per 100 cubic feet of water), be and the same is hereby approved.
City Council:
AN ORDINANCE AUTHORIZING A WATER
RATE INCREASE EFFECTIVE JANUARY 1, 2025
Whereas, by letter dated July 18, 2024, the Commissioner of the Board of Water Supply has requested legislation authorizing the Mayor to implement a water rate increase effective January 1, 2025; and
Whereas, the Mount Vernon Board of Water Supply is facing cash flow concerns that necessitate a rate increase to ensure the continued provision of water services and operational stability; and
Whereas, the Board of Water Supply has not implemented a rate increase since 2018, despite a significant rise in the cost of goods and services, including a 21% increase in the direct cost of water amounting to $982,702 over the past six years; and
Whereas, the cost of employee salaries, benefits, and contract obligations has increased due to inflation and the rise in the cost of living, with wages increasing by 31.20% in 2024 and health benefits costs rising by 120% since 2018; and
Whereas, the Mount Vernon Board of Water Supply has reestablished fiscal accountability and advanced operations despite the compounding factors of the pandemic and pre-existing fiscal and legal challenges; and
Whereas, the cost of water to Mount Vernon residents remains one of the lowest in Westchester County, an increase is necessary to stabilize operational cash flow and balance the budget; and
Whereas, the proposed rate increase will provide approximately $1,842,318 in budget revenue based on average water consumption, easing the operational budget disparity; Now, Therefore, Be It Resolve...
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