File #: 2023-0172    Version: 1
Type: Ordinance Status: Passed
File created: 5/2/2023 In control: Budget and Fiscal Management Committee
On agenda: Final action: 6/6/2023
Enactment date: 6/14/2023 Enactment #: 19623
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, Sewage
Code sections: 28.84.055 - , 4A.670.100 - .
Attachments: 1. Ordinance 19623, 2. A. Wastewater Treatment Division Financial Forecast, 3. 2023-0172 Transmittal Letter, 4. 2023-0172 Wastewater Treatment Division 2024 Rate Recommendation, 5. 2023-0172 Proposed 2024 Sewer Rate and Capacity Charge and 2024-2033 Financial Forcecast, 6. 2023-0172 Fiscal Note, 7. 2023-0172 Legislative Review Form, 8. 2023-0172 0173_SR Sewage rates & charges 5-10-23 BFM, 9. 2023-0172_0173_ ATT4_TechnicalMemo2024 Sewer Rate and Capacity Charge, 10. 2023-0172_0173_ATT9_Requested_FTE_Details Sewer Rate 73 FTE Classifications, 11. 2023-0172_0173_ATT10_MWPAAC_letter_Exec, 12. 2023-0172_0173_ATT11_MWPAAC_letter_council, 13. 2023_0172_0173_ATT8_Cash Funding Alternatives, 14. 2023-0172--Seattle Times - Order #55743 - $209.62
Related files: 2018-0231
Staff: Giambattista, Jenny
Drafter
Clerk 04/11/2023
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 ((2023)) 2024 sewer rate of ((fifty-two)) fifty-five dollars and 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 2023 and 2024, and shall be used solely for the purposes of: maintaining the level sewer rate in 2024; and if additional reserve balance is available, moderating future rate increases beyond 2024. The estimated amount of the reserve, as shown in the financial forecast, Attachment A to ((Ordinance 19447)) this ordinance, shall be revised in accordance with the 2023-2024 B...

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