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<br />12. The operating and capital expenditures in the Water and Sanitary Sewer budgets exceed <br />projected revenues. Staff is working with the City's financial consultant to study existing <br />rates and develop recommendations regarding future rate adjustments. It should be noted <br />that the Metropolitan Council's Inflow and Infiltration charges were implemented after <br />the completion of the City's 2004 rate study, and further, that the City's senior discount <br />program affects our ability to capture revenue. Staff will have an update for the work <br />sessIOn. <br /> <br /> <br />Page 3 of3 0 <br /> <br />CONCLUSION <br /> <br />The department narratives within the budget document provide additional detail and explanation <br />regarding budget highlights. If you have any questions regarding the proposed budget, please <br />feel free to contact us. <br /> <br />MW <br />\lmetro-inetlardenhillsIFinancelFinance Directorl2008 Budgetl?relim Copy for Council\Budget Memo.doc <br /> <br />5 <br />