Current Year: 2022
Year Reporting for: 2021
Village of Loon Lake
Date: August 18, 2022
WATERWORKS RATE POLICY
December 2, 2020, Council passed a bylaw to fix the rates to be charged for the use and consumption of water and to fix the rates to be charged by way of rent and service charge for the use of the sewer.
Under the Bylaw of the Village of Loon Lake to Fix the Rates to Be Charged for the Use and Consumption of Water and to Fix the Rates to be Charged by Way of Rent or Service Charge for Sewer, the water rate of $20.00 for the first 1000 gallons of water and $0.0175 per gallon for any additional water use thereafter, as adopted under the Water Bylaw, dated December 2, 2020.
The objective of the Waterworks rate policy is that we have implemented a Reverse Osmosis system to meet the standards of Saskatchewan Environment which was completed. The policy of the Village of Loon Lake is to ensure the costs of maintaining the water treatment plant are paid by fees charged for the service.
December 2, 2020, Council passed a bylaw to implement a $10.00 a month infrastructure fee to assist with making the Village of Loon Lake’s water/sewer system for sustainable. Any portion of infrastructure fee charged that is not used for capital expenditures will be placed in a utility reserve for future upgrades to water plant and/or water distribution lines.
WATERWORKS CAPITAL INVESTMENT STRATEGY
The objective of the waterworks capital investment strategy is to maintain the system to provide safe drinking water to the residents of The Village of Loon Lake. To cover the cost of future infrastructure the Council may have to increase rates as needed. Capital plans are being looked at for the future.
ANNUAL WATERWORKS FINANCIAL OVERVIEW
The following is information on the waterworks, as required under The Municipalities Regulations:
2021 Waterworks Overview:
Total waterworks revenue: $178,240.00
Total waterworks expenditures: $191,340.00
Total debt payments on waterworks infrastructure loans: $ 0
Comparison of waterworks revenues to expenditures plus debt payments, expressed as a ratio:
$178,240 = 0.93
The following additional information is available at the Municipal Office on the waterworks:
2021 financial overview of the waterworks
Collected numbers off of the 2021 Audited Statement and 2021 General Ledger