The following action was taken at the Board Meeting on December 11, 2007

2008 Budget and Related Water Rates

The Board adopted the 2008 Budget that includes a 5.4% rate increase to service and commodity charges to go into effect January 1, 2008.

Rule XI

The Board amended Section 1of Rule XI of WaterOne’s Rules & Regulations, effective December 12, 2007, to clarify how the System Development Charge will be calculated for meter sizes and/or types not specifically listed in the rule.

Revisions to Handbook

The Board approved the following change to the post retirement medical and life insurance benefits effective 1/1/08:

For employees hired on and after 1/1/08, WaterOne will pay no portion of employee or spouse medical and life insurance premiums upon the employee’s retirement.

Approval of Reserves

The Board directed staff to reserve $1,100,000 from the System Development Fund to the Master Plan Phase V Reserves.