IWC 2018 Schedule of Fees & Charges
December 04, 2017
The Iredell Water Corporation (IWC) Board of Directors have adopted new rates and fees for Fiscal Year 2018. These rates and fees are effective on January 1st, 2018. These new rates coincide with the ten-year Capital Improvement Plan(CIP) and Water System Financial Analysis the Board of Directors approved in 2016, through a joint effort between IWC management and Martin-Mcgill Management Consulting. As a result of the study, it was recommended that in order to minimize the impact on existing customers, the proposed increases in water rates should occur gradually over multiple years. Single large adjustments were found to be less practical and less feasible. The estimated annual revenue increases would prepare IWC for the phase-in of additional debt service payments, operating and capital cost associated with the CIP, and would build cash balances to more prudent levels.
The noteworthy changes in the 2018 Schedule of fees are increases in the monthly user fee, consumption rate, and new tap fees.
Monthly user fees will increase by $0.50 to $11.00 per month and the monthly consumption rate will increase by $0.20 to $3.40 per 1,000 gallons of water used. A customer with an average water usage of 5,000 gallons will see a total increase of $1.50 per month. Existing customers will see the new rate reflected on the water bills they receive at the end of the month of January, 2018.
New tap fees will also increase in 2018. These increases are reflective of the higher cost of material and labor since the last major change in tap fees in 2008. The goal of tap fees are for the new user to pay for the total cost of the new service without the current customers funding these services.
For a complete list of current rates and fees, please review the "2018 Schedule of Fees & Charges" located on our website at www.iredellwater.com. Click on the Rates & Polices page under the Customer Service tab and you will find the document at the bottom of the page. You may also review this document at our office.