Winamac Town Council receives rate increase recommendations

Baker Tilly was on the agenda for the Jan. 13 regular Winamac Town Council meeting to go over water and sewer rate studies and the third quarter report. A representative went over the current water and sewer rate structure along with an analysis on the adequacy of those rates, to see if either utilities are due for a rate increase anytime soon. The analysis was based on September 2024 data. First, she noted that there are two outstanding sewer bonds from 2010 and 2016. The 2010 bond will mature in 2030 and the 2016 bond will mature in 2028. She said that as long as the bonds are outstanding, the town will need to make sure that rates are set so they can adequately afford the bond payments. They also need to plan ahead for a couple of years regarding capital improvements. As of Sept. 30, it's estimated that sewage will need about $200,000 a year for the next five years to fund those capital improvements.