The Lynnfield Center Water District Board of Commissioners invites the community to attend a public hearing on its volumetric rates for the coming year on Monday, Feb. 26.
The hearing will be held at 7 p.m. at the Meeting House, 617 Main St. (on the Lynnfield Common).
LCWD raises revenue through volumetric rates, which are based on a customer’s usage, and an assessment on individual real estate bills.
District leaders work closely with its outside financial team – certified public accountant Dick Hingston of Dick Hingston Government Accounting, auditors Roselli, Clark and Associates, and financial consultant David Fox, Senior Manager at Raftelis – to ensure the District follows generally accepted policies and procedures and common municipal utility standards.
Revenue supports the District’s operating budget, which includes:
- Employee salaries and vendor contracts
- Indirect expenses, including insurance benefits and retirement
- Maintenance and contractual expenses to pump, treat and distribute water
- Material expenses required for the above
- Debt payments for borrowing on capital projects
- Administrative expenses required to manage the business aspect of the District
- Consumption projections based on past historical data analysis
LCWD customers are welcome to attend the hearing. The hearing will be open to public comment and questions. Interested parties also may submit testimony in writing in advance of the meeting.
New volumetric rates will take effect on March. The new rates will appear on the June 2024 quarterly bill, and reflect consumption in March, April and May.
Once the rate-setting process is completed this month, the Board will turn its attention to finalizing details of all items in the Fiscal Year 2025 budget, the Annual and Special District Meeting that will take place in early May and completing bidding on ongoing capital projects.
The Glen Drive Treatment plant is currently out to bid, while details on the Wakefield Interconnect and Interbasin Permits are being finalized before the project is opened to bids.