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Source of Funds: Beginning in 2024, Fund 603 has been sourced by the stormwater utility fee that has <br />been added to the water and sewer bill, with an anticipated $500,000 in 2024. This set fee schedule will <br />make Fund 603 not only healthy but also provide sufficient revenues to account for the next ten years of <br />expenditures, as noted in the graph below. <br />Use of Funds and highlights next five years: <br /> <br />2025 – Storm Water Standalone Projects - $151,500 <br />2025 – Street Storm Water Projects - $44,000 <br />2026 – Stormwater Standalone Projects - $61,000 <br />2026 – Street Storm Water Projects - $294,000 <br />2027 – Storm Water Standalone Projects - $72,500 <br />2028 – Storm Water Standalone Projects - $67,000 <br />2028 – Street Storm Water Projects - $142,100 <br /> <br />Fund Outlook: <br />As noted below there are likely sufficient revenues to fund the improvements identified for the next ten <br />years. The below fund balance projections anticipate a 4% utility fee increase each year. <br /> <br /> <br />Water/Sewer Replacement Fund (604) <br /> <br />Background: <br />This fund is used to account for funds set aside from the City’s water and sewer operating utilities to be <br />used for future equipment replacement and capital costs for the City’s utilities. <br /> <br />Source of Funds: <br />The Fund receives an annual operating transfer from the Water Enterprise Fund & Sewer Enterprise Fund. <br /> <br />14