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<br /> <br />Each year staff updates projections for setting up utility rates and concluded that a 6.5% rate <br />increase will be necessary to the water rates, an 8% rate increase to the sewer rate, and a 4% <br />increase to the stormwater rates for 2025. The rate adjustments are necessary to fund current <br />operations and capital needs in the funds. City council reviewed the proposed utility rates at the <br />workshop held on November 13th. <br />CONCLUSION <br /> <br />With the many unknowns related to the future status of the Economy, City Council and staff <br />made significant efforts to minimize the increase to the 2025 Property Tax Levy while <br />maintaining the same quality level of services and programs and taking steps toward the <br />implementation of the City’s Strategic Plan. <br />We would like to acknowledge the contributions from City staff and members of the leadership <br />team or their contributions in preparing the Operating We would also like to recognize the time <br />and effort put forward by City Council members throughout the budget process. Together we will <br />continue to assure that the citizens of Little Canada get the best value for their tax dollar. <br />11