Comment offered by former Commissioner Dave Vespo on 86% water rate increase

Wes,

Keep in mind, 13.25% each year for 5 years actually equates to an 86% increase to the contract customers.

It is similar to how interest compounded monthly derives an annual yield higher than the actual rate except this compounds annually for five years.

You know how each year around budget time we see a bar graph purporting to show our electricity as competitive with other utilities? It will not be possible with our water rates by the fifth year no matter how we distort the graph!

This will become an issue as soon as people start seeing the bill.

(ed: Note that the second reading of the ordinance that will raise water rates 86% is scheduled for April 7)