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Consolidated Utility Fund Long -Term Forecast <br />The Consolidated Utility Fund consists of the Water Utility Fund, the Wastewater Utility Fund, and <br />the Storm Water Utility Fund. <br />Incorporating the revenue assumptions, the operating expenditure targets, and the updated CIP <br />projections outlined in the preceding discussion, the following chart summarizes a history and <br />projection of revenue, expenditures, and reserves (defined as working capital) for the <br />Consolidated Utility Fund. <br />o rJ <br />The City's Reserve Policy for the Utility Funds states, <br />The minimum working capital for the Water, Wastewater, and Storm Water Utility Funds shall <br />be maintained at or above 25% of current operating expenses, as measured on the City's <br />budgetary basis. For purpose of this policy, operating expenses are defined as all <br />budgetary -basis expenses, excluding interfund transfers and capital outlay. <br />The Consolidated Utility Fund reserves are expected to remain well above the 25% minimum level <br />as defined in the Reserve Policy. All the individual utility funds are also expected to remain in <br />full compliance with the reserve policy. <br />15 <br />