How often am I required to calculate and review my rate?

Answer

Formal rate calculations must be performed at least once every two years and rates adjusted accordingly.

• An annual review of the rate by the department is considered best practice.
• In addition, between typical rate calculation time frames, if there is a significant change in user base or costs to provide the services, you should re-calculate rates and implement new rates as soon as possible. This ensures users are being billed fairly for the services/goods they are receiving and that the service center is not incurring an unexpected large surplus or deficit.