Laserfiche WebLink
The City's water utility has continued to show a stable financial position and <br /> as part of this Plan the City created long term 20 year Capital Improvement <br /> Plan (CIP) and a detailed 6 year CIP, as required by DOH. The Water Plan <br /> identifies over $107 million in water improvements through the year 2020, <br /> and over an additional $49 million through the year 2035. The City already <br /> adopted 13.5 percent annual rate increases for 2015 and 2016. The rate <br /> increases are adequate to cover operation and maintenance expenditures and <br /> debt service through 2016. Additional water service rate increases of 3% <br /> annually for the years 2018 through 2020 will be needed to meet operating <br /> and maintenance costs. No water service rate increase is anticipated for <br /> year 2017. On a cumulative basis, the rates are forecasted to increase by <br /> approximately 40.8% between 2015 and 2020. <br />