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City details water fund loan repayment, surcharge changes and wastewater expansion timing
Summary
Finance staff described continued repayment of a 2019 loan from the water fund to the general fund, payoff of a major loan that allowed removal of a surcharge, and plans to phase in surcharges to fund CIP projects; wastewater expansion is slated for next year.
Schneider briefed council on utility funds, saying the water fund is continuing repayments to the general fund for a 2019 loan and that the water fund recently paid off a major loan, enabling the removal of a surcharge. "So in the water fund, you can see continue to see a refund payment to the general fund for, a loan that was provided to the water fund in 2019 when they overran the fund and they were in the red," she said.
She said four new surcharges will be added in January to help offset utility-bill impacts as funds are transferred to CIP projects. Schneider also said the 14/16 wastewater expansion — the city's top CIP project recommended in 2018 — is expected to be tackled the next year and will likely prompt citizen inquiries because construction will run down a central corridor.
