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ProposedRates <br />- <br /> <br /> <br />Year20202021202220232024 <br />Operating Revenues $37,990,288 $38,533,969 $39,084,341 $39,657,641 $40,229,869 <br />Less Operating <br /> (35,480,019) (36,070,782) (37,020,347) (37,586,795) (38,141,864) <br />Expenses <br />Plus Non -Operating <br /> (79,079) (92,791) (679,534) (489,326) (456,653) <br />Revenues (Expenses) <br />Less City Transfers (1,365,000) (1,384,535) (1,404,310) (1,424,908) (1,445,469) <br />Change in Net Position $1,066,189 <br /> $985,861 $(19,850) $156,612 $185,882 <br />Net Position as <br />2.8% 2.6% -0.1% 0.4% 0.5% <br />Percent of Revenues <br />(1)1.5% rate increase each year from 2021-2024. <br /> <br />Cash Reserves Proposed Rates <br />A summary of the impact of the projected operating results on ERMUunrestricted <br />cash reserves assuming the proposed rate adjustments is shown at the end of Exhibit <br />4-B and in Table 4-2below. Assuming the recommended rate adjustments going <br />forward, the projected unrestricted cash balance at the end of the Study Period <br />increasesby approximately $5.3millionas compared to the projections at existing rates <br />as contained in Section 2 of this report.However, the reserves still fall slightly below <br />the policy goal by the end of2024. <br />-17- <br />92 <br />