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Water Budget and Rates <br />As discussed in November, we are proposing a 1-3% rate increase for 2024. <br />• Tier 1— 1% increase <br />• Tier 2 - 2% increase <br />• Tier 3 - 3% increase <br />• Monthly base rate — 2% <br />Notable items in the water budget for 2024 are: <br />• 4.00% wage adjustment. <br />• 2% UPMIC. <br />• Conservative estimate for usage and growth. <br />• Additional lead water operator and filling vacant administrative specialist positions. <br />• Loss on disposition of capital due to AMI implementation. <br />• Administrative expenses for consulting fees for a rate study, urban services expansion <br />study, future of power plant, AES2, and NISC business consult. <br />• New well projects from reserves. <br />• AMI project from reserves. <br />• Meadowvale booster station from reserves. <br />Summary <br />Submitted for approval is the 2025 Annual Business Plan which includes the 2025 Budget and <br />the 2025 Schedule of Rates & Fees. The 2025 fees were approved by the Commission in <br />November and are being presented here with one change. The adoption of the 2025 Schedule <br />of Rates & Fees through the adoption of the Annual Business Plan shall supersede and replace <br />all previously adopted tariffs, rates, and fees. <br />FINANCIAL IMPACT: <br />Notable items discussed above. As previously discussed, we are proposing a rate increase of 0% <br />for electric and 1%-3% for water. <br />ATTACHMENTS: <br />• Proposed 2025 Annual Business Plan <br />o 2025 Budget <br />o 2025 Schedule of Rates & Fees <br />Page 2 of 2 <br />79 <br />