Angola council reviews water, sewer finances and five‑year capital plan; consultant flags possible rate increases

Angola Common Council heard a detailed presentation Monday from Baker Tilly on the city’s water and wastewater financial management reports and a draft five‑year capital improvement plan that together suggest the city may need to raise utility rates to fund identified projects.

Jeff Raul of Baker Tilly said the water utility ended 2024 with about $250,000 more cash than the prior year and fund balances roughly $2.7 million above minimum reserve requirements, but a five‑year projection that includes planned capital work and existing debt service would leave rates insufficient under current assumptions. The report lists about $6.4 million in capital projects over five years and assumes roughly $4.0 million would be bonded (in 2026–2027), $400,000 would come from TIF, and $753,000 from prior 2025 bond proceeds; the net rate‑funded capital built into the model is about $1.2 million, or roughly $238,000 per year on average.

"We first look at cash position," Raul told the council, describing the report’s structure. "Based on the assumptions we've built in currently, we'd be looking at a rate adjustment of about…