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<br /> <br /> <br />37 <br />(1) The City will maintain working capital in the Water System funds to <br />provide for future capital projects and unanticipated emergencies, such as pump station <br />repairs. The City will attempt to maintain a working capital reserve of at least 30% of the <br />annual operating and maintenance expenses for the Water Fund. As of June 30, 2026, <br />the amount in this reserve was $12.0 million (unaudited). <br /> <br />(2) A plan will be developed to provide a roadmap to replenish the reserve <br />through a rate study when the reserve level is below 30%. <br /> <br />(3) Unspent funds in the Water CIP Fund will be used for future capital <br />projects and also serve as a rate stabilization fund in which funds can be transferred <br />back to the Water Operating Fund to cover operating expenses if needed. <br />Page 247 of 318