Quote:
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At this time, staff is requesting NSCUDD approve rate adjustments that can be incorporated into the FY23-24 Budget preparation process as well as preparation of a 5-Year Capital Improvement Plan. The requested amendment to the Rule would set annual increases of 10% for years 2 and 3 and 3% increases for years 4 and 5, effective October 1st of each year. Page 155 of 254"
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The math:
If my water bill is $50/month, it'll now be 50+10% = $55/month for year 2, and then 55+10% or $60.50 for year 3. Then, 3% + $60.50 = $62.31/month for year 4, and then $64.18/month for year 5. That nets a 22% increase over a 5-year period, paid every month. It doesn't sound like much but $14.18/month during the 5th year over the original $50/month, multiplied by every household that has to pay - what is that, 50,000 households? That's $700,000 per year INCREASE over the previous year. For upgrades? So when those upgrades are completed, will you be reducing the price? Or will it continue to be almost 22% higher than it was when you started the increases?