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Water Utility –Requested Updates to Rates <br />•Changes to Option #1: <br />–Adjust 2018 bonding to eliminate borrowing from PIR Fund in <br />future years <br />•Recommending $2.5 million in bonding, instead of $2.0 million <br />–Eliminates negative cash balances in 2020 & 2022 <br />–No Changes to Meter Charges <br />•Meter and Standby Charges still combined <br />–Smooth out rate increases <br />•Recommending 6.5% increases for 2018 –2022 <br />•Recommending 2.0% increases for 2023 and beyond <br />3