Approving a Contract Bureau of Water and McCullough & Associates $14,157.24

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1150 North Shadeland Avenue • Indianapolis, Indiana 46219 • 317 -359 -5273 A'. February 27 , - -974 , Board of Water Works Commissioners County -City Building South Bend, Indiana Pursuant to approval by the Public Service Commission of Indiana of Cause #33394 establishing increased rates and charges for the City of South Bend Municipal Water Utility, we are herein rendering our statement of accounting and financial services rendered and fees and expenses incurred pursuant to our employment agreement with the City dated February 20, 1973.' This statement represents total billing of time and expenses from February 20, 1973 through February 25, 1974, the date of approval of the rate increase by the Public Service Commission of Indiana. Services rendered included: various accounting and financial studies deemed necessary' to' establish the pro forma revenue requirements of the Municipal WaterlUtility including operating expenses, debt service on outstanding revenue bonds,'and depreciation including a management improvement program, and to recommend a new schedule of water rates and charges.established to provide revenues sufficient to -fund the revenue requirements;,preparation and presentation to the Board of Water Works Commissioners a Preliminary,Rate and Financial Report based on a water cut -off date of.June 30, 1973, disclosing findings and recommendations based on the aforementioned studies; . additional necessary accounting and financial studies to update the financial data through September 30, 1973, the accounting cut -off date established by the Public Service Commission for the hearing•on'Cause #33394; preparation of a Rate and Financial Report used as an exhibit in the Public Service Commission hearing and testimony. thereon; preparation of the technical portions of the rate ordinance; reconciliation of accounts receivable balances; preparation and filing with the Public Service Commission an itemized statement showing the disposition of proceeds from the Water- works Revenue Bonds of 1966 including (a) detailed explanation of all debits and credits to the Construction Fund, (b) Engineer's detail of final cost of each contract - by units installed in accordance with the contract, (c) itemization of cost of work done with materials purchased by the Municipal Water Utility, and (d) detail listing of non- construction costs;,reconciliation of Municipal Sewage Works and Trash Removal revenue transfer accounts with accounts receivable; review of Balance Sheet accounts and providing certain year end adjusting entries; consultations with and attendance at meetings with City officials and staff members and certain governing bodies, legal counsel, staff accountants at the .State Board of Accounts and Public Service Commission ' staff, and other time and expenses pertaining to the project.