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Council reviews 20‑year projection showing steep early increases under current model
Summary
Materials shown at the workshop included a 20‑year projection example: 10% annual increases for three years, then 5% for a decade and lower rates thereafter; staff said those increases aim to achieve a net‑zero position across 20 years and to maintain 90 days operating reserves and replacement funding.
Workshop materials included a 20‑year rate projection that, under the current rate structure, shows a scenario of 10% annual increases for three years, followed by 5% annual increases for a decade and smaller increases thereafter. Staff presented the projection as an example of what it would take to maintain operational reserves and to fund projected capital and replacement needs.
Consultant Andy and staff explained the projection inputs: historical spending and audits, CPI‑based inflation assumptions (Cleveland Fed 20‑year forecast), personnel and benefit escalation (including PERS increases), and modest population growth assumptions. Andy emphasized that the 10% figure is an order‑of‑magnitude example tied to the present structure and that a capacity‑based remodel could change the required percentage.
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