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SWDD Rate FY 2023/24 Rate FY 2024/25 Rate Variance % Change Commercial Waste Generation Unit (W.G.U) $ 63.70 $ 68.80 $ 5.10 8.0% Residential Waste Generation Unit (W.G.U) $ 100.69 $ 108.75 $ 8.06 8.0% Equivalent Residential Unit (E.R.U.) $ 151.04 $ 163.12 $ 12.08 8.0% Readiness -to -Use Fee (W.G.U.) $ 36.76 $ 40.30 $ 3.54 1 9.6% Landfill Residue Disposal Fee $ 49.23 $ 50.71 $ 1.48 3.0% Number of W.G.U.'s 230,409 230,940 531 0.2% W.G.U. = One ton of waste annually Sandridge Golf Course, the #10 ranked public golf course in the State of Flroida, will increase the seasonal rates charged for the 18 -hole course by $4 to $6, along with ID cards by $10 each. Sandridge's rates will still remain lower than most courses in the area. However, this rate increase will generate approximately $550,000 in additional revenue to help fund the new Clubhouse, which is slated to start construction in the upcoming fiscal year. In addition to the increased rates, Sandridge continues to see a record number of golfers. With the growing interest in the sport, along with Sandridge's notoriety, revenues are projected to continue increasing. Staff is currently engaged with our financial advisor and evaluating financing alternatives. At the appropriate time, Staff will present to the Board the recommended financing. In the past 25 years, the Utility has conducted one rate study. Based on last year's rate adjustment (5.5%), future capital needs of the system, and the overarching need to achieve revenue sufficiency and fiscal sustainability, a comprehenisve Utilities Rate Study was conducted this year. A public educational workshop is scheduled forAugust 22, 2024 and a public hearing on the proposed rate and fee schedule will be held on September 24, 2024. Utility Rates have changed 12% since 1999. During the same time period, the US Water & Sewerage CPI has increased by a staggering 210%. The County's Utility Services Integrated Master Plan is underway. The plan will assess our system and infrastructure to identify needed capital repair and replacement items, as well address system expansion. The County will be faced with considering a more appropriate rate and fee structure to ensure necessary capital investments in our water and sanitary sewer systems are made. Absent an appropriate rate structure, revenues will be insufficient to maintain, operate, and expand the utility system, and the continued use of reserves is unsustainable. Prospective View Although the FY 2024/2025 tax roll has remained quite strong, a level of uncertainty exists with regard to the overall economy and the impact it may have on the County in the upcoming and ensuing fiscal year(s). As noted earlier, while most economists no longer forecast a recession, many still predict a cooling in economic growth. As noted in last year's budget message, the prediction housing starts were expected to decelerate in 2023 and 2024 (which internal County permitting data supports); however, they are expected to pick up in 2025 and 2026. Regardless of a shallow and extended recession or an economic slowdown, I still believe the County is well positioned to weather either. Staff intends to continue to closely monitor economic trends and community conditions and maintain a cautious and conservative approach with an optimistic outlook. Moreover, and I repeat from last year, this represents a seminal opportunity for the County to prepare itself to protect and conserve our natural resources and plan for future growth, infrastructure, and the increased demands for services. These opportunities come in the forms of strategic planning, economic development planning, updating the County's Comprehensive Plan (though an evaluation of the plan and informed by an Urban Services Boundary study), implementing the County's Indian River Lagoon Management Plan, completing a Utility Services W,