File #: 2022-0172    Version: 1
Type: Ordinance Status: Passed
File created: 5/3/2022 In control: Budget and Fiscal Management Committee
On agenda: Final action: 6/7/2022
Enactment date: Enactment #: 19447
Title: AN ORDINANCE relating to rates and charges for sewage treatment and disposal; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100, Ordinance 18745, Section 2, and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
Sponsors: Joe McDermott
Indexes: Disposal, Fees, Sewage
Code sections: 28.84.055 - , 4A.670.100 - .
Attachments: 1. Ordinance 19447, 2. A. Wastewater Treatment Division Financial Plan, 3. 2022-0172 - 2023 Approved MWPAAC Rate Recommendation to KC Council, 4. 2022-0172 transmittal letter, 5. 2022-0172 Metropolitan Water Pollution Abatement Advisory Committee - Wastewater Treatment Division 2023 Rate Recommendation to KC Executive, 6. 2022-0172 Proposed 2023 Sewer Rate and Capacity Charge and 2023-2032 Sewer Rate Plan, 7. 2022-0172 fiscal note, 8. 2022-0172 Legislative Review Form, 9. 2022-0172_SR_2023 Sewer Rate-Capacity Charge 5-11-22 BFM, 10. 2022-0172 ATT6 Thurston County Superior Court Declaratory Judgment Nutrients General Permit, 11. 2022-0172_SR_2023 Sewer Rate-Capacity Charge 5-25, 12. 2022-0172 Invoice & Affidavit.pdf
Related files: 2022-B0056
Staff: Reed, Mike
Drafter
Clerk 04/21/2022
title
AN ORDINANCE relating to rates and charges for sewage treatment and disposal; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100, Ordinance 18745, Section 2, and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100 are hereby amended to read as follows:
A. Having determined the monetary requirements for the disposal of sewage, the council hereby adopts a ((2022)) 2023 sewer rate of ((forty-nine)) fifty-two dollars and ((twenty-seven)) eleven cents per residential customer equivalent per month. Once a sewer rate ordinance becomes effective, the clerk of the council is directed to deliver a copy of that ordinance to each agency having an agreement for sewage disposal with King County.
B. The King County council approves the application of Statement No. 62 of the Governmental Accounting Standards Board (GASB-62) as it pertains to regulatory assets and liabilities to treat pollution remediation obligations and RainWise Program expenditures and strategic planning costs as regulatory assets, recovered ratably over the life of the underlying financing, and to establish a rate stabilization reserve for the purpose of leveling rates between years.
C. As required for GASB-62 application, amounts are to be placed in the rate stabilization reserve from operating revenues and removed from the calculation of debt service coverage. The reserve balance shall be an amount at least sufficient to maintain a level sewer rate between ((2021)) 2023 and ((2022)) 2024, and shall be used solely for the purposes of: maintaining the level sewer rate in ((2022)) 2024; and if additional reserve balance is available, moderating future rate increases beyond ((2022)) 2024. The estimated amount of the reserve, as shown in the financial forecast, Attachment A to ((Ordinance 19294)) this ordinance...

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