$10 million borrowing for first round of water system projects

From the 2011 Water Quality Report:

In April 2010, the Village hired a consultant with expertise in financial planning for water utilities to complete a water rate study. The study identified the annual estimated expenditures needed to operate the system and compared them with the annual revenues projected to be collected with the current water rates. They determined if the Village maintained water pricing at the current level, there would be a $2.75 million deficit by 2011 which would increase to almost $5 million by 2015. As a result, the consultant recommended that water fund revenues increase by 14% per year over a three year period, beginning in 2010. Read the rest of this entry »

Village to roll out three new Utilities