That water rate increase that’s
That water rate increase that’s been the subject of heated debate? Turns out that it’s based on erroneous calculations. The consultants hired by the city added the “debt service coverage ratio” twice, resulting in a rate scheme that would raise $1.2 million more than the old rates, instead of a planned $350,000. This error, which the city’s utilities director claimed was “not obvious,” was not discovered for weeks.
“The city paid Carter and Burgess of Dallas $112,718 to handle the rate proposal,” the News article reports. With the money the revised proposal generates, they could hire the consultants twice more.