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Impact on Cash Flows <br />11 <br />Prelim. <br />Budget <br />2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 <br />6.50%6.50%6.50%6.50%6.50%2.00%2.00%2.00%2.00%2.00%2.00% <br />Projected <br />•Water Rates <br />–Rate increases Recommendations <br />—Recommended Annual Rate Increases: <br />•6.5%: 2018 –2022 <br />•2.0%: 2023 –2028 <br />—Rate increases allow: <br />•Bonding needed in 2018 only <br />•Pay cash for capital projects in 2019 and beyond <br />•Ensure sufficient funds to pay for debt service <br />•Not high enough to build cash reserves until 2023 <br />—Ehlers recommends issuing debt in 2018 to pay for capital needs and to <br />maintain positive cash balances in the future