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Proposed 2006 Annual Budget Approved The WaterOne Governing Board approved the utility’s 2006 Annual Budget at its December 13 Board meeting. A 4.3% rate increase for all customer classes is required to support the budget. The increase will be implemented on January 1, 2006, and the typical residential water customer will pay an additional $1.20 more per month. Two work sessions were held with the Governing Board concerning the 2006 Budget, and a public hearing was held in November. Customers of WaterOne have enjoyed very stable rates. The 2006 increase will be only the third increase the utility has had since 1998. Even with the 2006 increase, WaterOne’s rates continue to average below the inflation rate compared to the K. C. Metropolitan Utilities and Fuel Index. WaterOne rates have increased an average of only 1.8% since 2000, while the K. C. Metropolitan Utilities and Fuel Index has increased by 3.8% . Additionally, Standards and Poor’s Ratings Services recently affirmed its ‘AAA’ rating on the utility’s water revenue refunding bonds outstanding . This rating is the highest rating awarded to a water utility. The service also affirmed its ‘AA+’ rating on WaterOne’s junior-lien revenue bonds outstanding.
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