NC S1283

Department of Environment and Natural Resources and Local Government Commission shall evaluate costs and benefits of conducting financial reviews of public water supply and wastewater systems.

Evaluation shall assess whether water and sewer rates are sufficient to cover system operations, maintenance, repair, replacement of infrastructure, and debt service obligations.

Agencies shall evaluate desirability of requiring systems to submit annual audit statements, develop remedial plans for revenue shortfalls, maintain capital reserve funds, and meet infrastructure investment benchmarks.

Agencies shall evaluate requiring review of grant applications to ensure local revenue match and notification to funding agencies when systems fail to comply with state and federal water quality standards.

Agencies must report findings and recommendations to the Legislative Study Commission on Water and Wastewater Infrastructure by November 1, 2010.