WATER AND WASTEWATER ENTERPRISES COST OF SERVICE STUDY FINANCIAL PLAN AND RATE STUDY

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<p style="margin-right: 0in; margin-left: 0in; font-size: 12pt;"><span style="font-size: 14px;">The City of Thousand Oaks invites proposals and pricing from qualified consultants for the City&rsquo;s water and wastewater cost of service studies, financial plan updates, and rate studies. The purpose of the cost-of-service studies and financial plans is to analyze and allocate the overall water and/or wastewater revenue requirements to the customer classes or parcels based on proportional use of and burden on the enterprise systems and recommend rate adjustments.</span><p style="margin-right: 0in; margin-left: 0in; font-size: 12pt;"><span style="font-size: 14px;">The City wishes to ensure financial solvency and to establish rates that generate sufficient revenue to meet operational, emergency, and capital needs. The anticipated commencement of the project is in Summer 2024, with a goal to complete the Wastewater Cost of Service and Rate Structure Study in FY 2024/25. After 2025, the following studies are scheduled to be completed: Comprehensive Connection Fee Study, Water Cost of Service Study, and Biennial Financial Plan Updates.</span>