New Marshall FiberNet Rates
Effective Date: March 1, 2021
At the regularly held City Council meeting on January 19, 2021 (available to view here: https://www.youtube.com/watch?v=_j-JVsQTyJE ), City Council approved the Marshall FiberNet utility rate increases to the amounts summarized below. The rates will be effective on March 1, 2021. Marshall FiberNet rates are reviewed annually by City Staff and recommendations made to council to adjust rates so that utility funds remain financially sustainable. When the departments review rates, five major expense categories are assessed: operations and maintenance, equipment replacement, capital expenses, administration, and debt.
According to the original Fiber to the Premises Project Cost Benefit Analysis (available to view here: http://www.cityofmarshall.com/system/res/1649/original/CBA_for_FTTP.pdf) approved in 2017, a 10% increase in all rates was approved after 3 years of operation to cover inflation. This increase was initially scheduled for March 1, 2020. However, due to the COVID-19 outbreak the increase was delayed. As Marshall FiberNet is a new utility, loans were taken from the Electric Fund, General Fund, Waste Water, and the LDFA to finance the project. In order to pay these loans back in a timely manner, the increase had to be made.
|Residential Tier||New Price|