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has been a major shift in the financial burden to the Water (Fund 601) and Sewer fund (Fund 602), since <br />transfers from these funds are the main source of revenues for the Water/Sewer replacement fund <br />(Fund 604). It is essential that the City will closely monitor the Water and Sewer fund to ensure that it <br />can continue to finance the Water/Sewer replacement fund to meet its capital infrastructure needs and <br />the future debt service payments. The debt will not be retired until 2034. It is currently projected that <br />an increase of 6.5% in utility rates in 2025 would be needed in the water and sewer funds to fund the <br />operations, debt service, and capital outlay. The water tower is scheduled to be painted in 2034 which <br />is the largest expenditure in the fund. As it can be noted below 2034 would need additional funding to <br />meet the fund proposed CIP primarily driven by the Water Tower painting project and the Combo Sewer <br />Machine. <br /> <br /> <br />CONCLUSION <br />City staff has prepared this document in conjunction with those projects and capital items that are known <br />and for which costs can be reasonably estimated. The CIP should be considered a planning tool, and the <br />projects included for 2025 serve as a work plan for staff. 2025 projects will be included in the 2025 Budget <br />that will be adopted by Council in December. For any 2026 projects, staff will request authorization from <br />Council before proceeding with a feasibility study, acquisition, or construction. <br /> <br /> <br />16