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Utility’s 2011 Annual Budget Presented to Finance Committee WaterOne’s proposed 2011 Annual Budget has been presented to the utility’s Finance Committee. Two work sessions on the proposed budget were held with members of the Finance Committee and Governing Board on October 5, 2010 and October 26, 2010. A public hearing on the proposed budget will be conducted at 7:00 p.m. on November 9, 2010 in conjunction with the monthly meeting of the utility’s Governing Board. A final vote on the proposed budget, and 2011 rates and charges needed to support it, is scheduled for December 14, 2010 at the Board’s monthly meeting. An overall rate increase of 4.4% is required in 2011 to support the proposed budget. This increase, which would be effective January 1, 2011, translates into an average increase of $1.53 per month on a typical residential customer’s water bill. Factors impacting the proposed budget include increased capital expenditures for infrastructure replacement, increased energy costs, reduced water consumption patterns, and a scheduled increase in debt payments. The 2011 Annual Budget reflects a commitment by the utility's Board and staff to keep rate impacts as low as possible. WaterOne rate increases have remained, on average, lower than the national CPI for water and sewer. The 2011 Budget Highlights can be viewed at www.waterone.org under the heading Financial Information.
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