The utility fund budget in the fiscal year 2023-24 budget calls for a rate increase, which Colleyville City Council approved at their Sept. 19 meeting.
What you need to know
The majority of Colleyville residents will see a 3.4%, or $1.17, increase in their monthly base rate, according to the budget.
- Customers with a 1.5-inch meter will see a $1.96 increase.
- Customers with a 2-inch meter will see a $2.91 increase.
- Customers with a 3-inch meter will see a $5.13 increase.
- Customers with a 4-inch meter will see a $8.31 increase.
The backstory
Colleyville had a standard tiered rate structure prior to 2016. Council voted to establish a new rate structure where operating costs are recovered through base rates and volumetric rates are set to pass through the costs charged by the Trinity River Authority, Finance Director Kyle Lester said.
In 2017, a new ordinance also established the capital improvement plan base rate to fund future capital projects.
Colleyville customers are billed a base rate to recover operating costs and a volumetric rate based on projected payments to Trinity River Authority.
Also of note
The capital improvement rate will remain at $5.83 for the second consecutive year. City officials initially anticipated a $9.77 rate for the FY 2023-24 fiscal year; however, due to a surplus from Trinity River Authority, Colleyville is able to capture funds without having to raise the rate, Lester said.
