On Wednesday, June 21, the MWRA Board of Directors approved an FY24 Current Expense Budget with a Rate Revenue Requirement of $834.3 million dollars. This budget incorporated the Advisory Board’s recommendation of an $8.3 million decrease to reach a combined water and sewer utility rate adjustment of 2.4%. The path to this milestone began in 2018 when the Advisory Board conceived the idea of moving beyond its earlier budget goal of “Four, No More” to a new goal of “2.4 by ’24.”
While the target combined rate has been met, there are still hurdles to overcome in future budget cycles. These include the growing pension unfunded liability and the long-term management of the water utility rate. The Advisory Board looks forward to working with the MWRA to address these hurdles and continue delivering sustainable and predictable rates to the MWRA communities.
To read the Advisory Board’s full comments and recommendations, please visit the Document Library.
