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Proposed Rates <br /> Projected Operating Results — Proposed Rates <br /> Based on the assumptions outlined above, the resulting projected operating results with <br /> the proposed rates are summarized in Table 4-1. <br /> Table 4-1 <br /> Projected Operating Results <br /> Proposed Rates <br /> Year 2016 2017 (1) 2018 2019 2020 <br /> Operating Revenues $34,709,120 $37,357,426 $38,811,536 $40,220,571 $41,053,233 <br /> Less Operating (33,898,794) (35,363,866) (37,481,037) (39,992,043) (41,865,483) <br /> Expenses <br /> Plus Non Operating 427,832 (185,885) (156,113) (532,743) (501,787) <br /> Revenues (Expenses) <br /> Less City Transfers (1,168,366) (1,248,831) (1,295,008) (1,324,856) (1,354,773) <br /> Change in Net Position $69,791 $558,845 $(120,623) $(1,629,070) $(2,668,811) <br /> Net Position as 0.2/° 1.5/° -0.3% 4.1 /° 6.5% <br /> Percent of Revenues ° ° - ° <br /> (1) Rate increase assumed effective 1/1/2017. <br /> Cash Reserves - Proposed Rates <br /> A summary of the impact of the projected operating results on ERMU's cash reserves <br /> assuming the proposed rate adjustments is shown at the end of Exhibit 4-B and in Table <br /> 4-2 below. Assuming the recommended rate adjustments going forward, the projected <br /> cash balance at the end of the Study Period increases by approximately $3.9 million as <br /> compared to the projections at existing rates as contained in Section 2 of this report. It <br /> also extends the time by one year before the reserves fall below the policy goal. <br /> - 3 - <br />