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November 2, 2011 Utility’s 2012 Annual Budget Presented to WaterOne Board WaterOne’s proposed 2012 Annual Budget was presented to the utility’s Finance Committee and Governing Board in two work sessions on October 4, 2011 and October 25, 2011. A public hearing on the proposed budget will be conducted at 7:00 p.m. on November 8, 2011 in conjunction with the monthly meeting of the utility’s Governing Board. A final vote on the proposed budget, and 2012 rates and charges needed to support it, is scheduled for December 13, 2011 at the Board’s monthly meeting. An overall rate increase of 4.9% is required in 2012 to support the proposed budget. This increase, which would be effective January 1, 2012, translates into an average increase of $1.77 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, and reduced water consumption patterns. The 2012 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 2012 Budget Highlights can be viewed at www.waterone.org under the heading Financial Information. |