City finance studies 21% sewer rate hike | News

The Ladysmith Finance Committee met Aug. 17, discussing the impact a 21 percent sewer rate increase could have on customers.

Deputy Clerk/Treasurer Tony Devine presented cash flow requirements for the city’s sewer department that were prepared by April Anderson of the professional services accounting firm CliftonLarsonAllen. It summarized the cash requirements for sewer department operations, debt service and replacement of sewer department assets. 

Also included was $43,000 in “recovery” funds that are intended to replace the losses that have occurred over the last few years of operating at a deficit. Total cash requirements for a year’s operations with these assumptions is $959,701. 

In 2020 revenues from services generated $803,243, and with no significant change in sewer demand, this is expected to remain static. 

Anderson advised to cover all assumptions, a 21 percent increase would be needed.

Concerns expressed involved the impact of a 21 percent increase on customers. 

Ald. Marty

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Mailchip never took outside investment, which likely makes this one of the largest exits in the technology sector.


Gary Hider/Dreamstime

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Tax and accounting software giant

Intuit

announced a deal to acquire email marketing provider Mailchimp for about $12 billion in cash and stock.

Intuit (ticker: INTU), which owns the TurboTax, QuickBooks, Mint, and Credit Karma financial services brands, said the deal advances its push to provide business services to small- and mid-market companies.

“Together, Mailchimp and QuickBooks will help solve small and mid-market businesses’ biggest barriers to growth, getting and retaining customers,” Intuit CEO Sasan Goodarzi said Monday. “Adding Mailchimp furthers our vision to provide an end-to-end customer growth platform to help our customers grow and run their businesses, putting the power of data in their hands to thrive.”

The deal is expected to close before the end of Intuit’s fiscal 2022 second quarter ending Jan. 31.

In

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