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November 4, 2004 2005 Annual Budget Under Review by WaterOne Board The Governing Board of WaterOne has been presented with the utility’s 2005 Annual Budget. A 4.9% rate increase to support the budget is under consideration. A hearing has been scheduled for Tuesday, November 9, 2004 at 7:00 p.m. to receive public comment about the proposed increase. The average water customer would pay an additional $1.28 more per month if the proposed increase is implemented. The rate increase is being driven by an increase in capital expenditures, including those that meet regulatory requirements and reinvestment in aging infrastructures. Due to numerous cost savings initiatives implemented by WaterOne management, daily operating cost per customer are projected to increase less than ½ of 1% in 2005. Customers of WaterOne have enjoyed very stable rates. There has not been a rate increase in six out of the last seven years, and the most recent increase occurred in 2000. Even with the proposed increase in 2005, WaterOne rates average well below the rate of inflation compared to the Kansas City Metropolitan Consumer Price Index (CPI). For the years 2000-2005, the KC Metropolitan CPI has averaged an annual increase of 3 ¾%. WaterOne rates have averaged less than 1% for the same period. The public hearing will be held at WaterOne’s Administrative Headquarters, 10747 Renner Boulevard, Lenexa. Special assistance may be requested by contacting Jill Bell at (913) 895-5513. |