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Operating expenses have been stable since 2019, but recent The projected operating expenses are based on the <br />increases driven by inflation will impact future costspreliminary 2024 budget with escalation adjustments <br />Water Operating Expenses $ millions Sewer Operating Expenses $ millions Water Operating Expenses $ millions Sewer Operating Expenses $ millions <br />$10.04 <br />$11.78 <br />$9.73 <br />$11.43 <br />$7.04 <br />$8.49$6.99$9.43 <br />$8.46 <br />$11.09 <br />$8.24 <br />$9.14 <br />$8.20 <br />$6.36$6.35$10.76 <br />$8.00 <br />$8.85 <br />$10.44 <br />$5.81 <br />2019202020212022202320192020202120222023 <br />2024202520262027202820242025202620272028 <br />2023 costs annualized based on YTD spending through November <br />¤Preliminary 2024 Budget is basis for future spending <br />¤Purchased water from Cleveland continues to be largest expense <br />΂Cost escalation based on historical trends and recent inflation pressure (3.0-3.5% per year) <br />¤Chemicals and other external costs increasing significantly <br />56 <br />Existing debt obligations show a payment reduction in <br />Water Capital Improvement Needs <br />2032 that will ease the burden of new debt <br />Major Projects between 2023 and 2028 <br />Water Debt ServiceSewer Debt Service <br />$4.00 <br />CY 2023CY 2024CY 2025CY 2026CY 2027CY 2028 <br />Water Capital Projects <br />$3.50 <br />2022 Watermain3,868,536$ -$ -$ -$ -$ -$ <br />Millions <br />2023 Watermain Construction & Admin5,047,037 - - - - - <br />2024 Watermain Design, Construction & Admin111,593 2,437,500 - - - - <br />$3.00 <br />$3.36 <br />2025 Watermain- 362,768 4,662,233 - - - <br />$3.08 <br />$3.07 <br />Bunts - Pavement, WM, IWWIP, streetscape, streetlight 727,500- 727,500 19,105,000 - - <br />$2.50 <br />$2.83$2.82$2.82$2.82$2.83$2.82 <br />2027 Watermain- - - 500,000 5,000,000 - <br />2028 Watermain- - - - 500,000 5,000,000 <br />$2.00 <br />Other Miscellaneous Projects58,500 425,000 300,000 250,000 300,000 - <br />$ 3,952,7689,085,666$ 5,689,733$ 19,855,000$ 5,800,000$ 5,000,000$ <br />$1.98$1.98$1.98$1.98$1.98 <br />$1.50 <br />$1.71$1.70$1.70 <br />$1.65 <br />$1.62$1.62 <br />$1.58 <br />$1.58$1.58$1.58$1.58 <br />$1.00 <br />¤Watermain projects partially funded by sewer for lining and IWWIP work <br />$1.05$1.05$1.05$1.05 <br />$0.99 <br />$0.95 <br />$0.50 <br />$0.92 <br />¤Other projects include emergency water repairs, vehicles and professional services <br />$0.00 <br />2023202420252026202720282029203020312032203320342035203620372038 <br />Excludes debt that will be issued to fund future projects <br />78 <br /> <br />