2030 Plan - Grand Strand Water and Sewer Authority

$169,746. Disposals for 2008 were $0.9 million.
During fiscal years 2007, 2008, and 2009, GSWSA obtained State Revolving Fund loans
for the phase two expansion of the Schwartz Wastewater Treatment Plant, the Myrtle
Beach Wastewater Treatment Plant Expansion, and the Conway Odor Control project.
As of June 30, 2009, the draws made on these loans and recorded debt was $21.8 million.
The ratio of total debt to capital assets was 44.3% for the fiscal year 2009.
6. Rates and Charges
Raftelis Financial Consultants, Inc, (RFC) a nationally recognized consulting firm
specializing in rates in the water and wastewater industry was engaged to access the
reasonableness, affordability and competitiveness of GSWSA’s current and historical
rates and charges. The following is from the RFC report.
Executive Summary
Raftelis Financial Consultants, Inc. (“RFC”) was engaged by the Grand Strand Water &
Sewer Authority (“GSWSA”) to assess the reasonableness, affordability, and
competitiveness of GSWSA’s current and historical water and wastewater rates and
impact fees. In providing this assistance, RFC updated an analysis originally developed
in 2005 to determine the impact of GSWSA’s annual adjustments to its water and
wastewater rates and charges on the monthly bill of its typical residential utility customer.
This analysis was developed based on 28 years of historical user rate and impact fee
information provided by GSWSA staff.
This information was also used to develop a comparison of the annual impacts on the
typical GSWSA residential customer bill with similar impacts on residential customer
bills observed for other water and wastewater utilities in a national survey group during
the ten year period from 1998 though 2008. The rate adjustments and customer bill
impacts for this national survey group provide an appropriate representation of residential
customer impacts for water and wastewater utilities nationwide during this period.
The typical monthly residential bill and impact fees for GSWSA was also compared with
those of other local utilities in the Grand Strand and Low Country regions of South
Carolina. Additionally, the affordability of GSWSA’s water and wastewater rates in
relation to the financial capabilities of the residential population of Horry County was
evaluated. And finally, appropriate water and wastewater rate adjustment benchmarks or
targets were provided for GSWSA to use in assessing its anticipated rate adjustments
over the next 10 years.
The report is organized into the following sections:
A. Overview of Grand Strand Service Area;
B. GSWSA Utility Rate History & Comparisons with Other Utilities; and
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