“Capital Improvement Program” tab herein provides details on our budgeted 2024 capital investments and on our long-range capital program.
REFUSE SERVICES
Our Refuse Services are operated as a stand-alone enterprise, like the Water, Sanitary Sewer and Stormwater utilities. With no exceptions in 2024, all refuse services and capital expenses are paid through user fees. We start 2024 with unencumbered Refuse Funds at $486,831. I believe that $500,000 is a reasonable and appropriate goal for the minimum beginning year balance. The 2024 Budget has spending at $299,868 more than revenue. This year we will need to discuss a possible refuse rate increase in 2025. The 2024 Budget includes $140,000 in refuse-related capital expenses. We last raised refuse rates in January 2019. Our current monthly refuse rate is $30 per residential unit. It is important to note that 20-25% of our total refuse expenses are costs associated with providing collection and disposal of leaves, brush & branch material, and other green waste. Given the very large number of trees and other plant material in Oakwood, we generate an enormous amount of green waste annually, requiring significant equipment and manpower to address.
WATER UTILITY
Our Public Water System is operated in full compliance with Ohio Environmental Protection Agency (EPA) requirements and continues to serve the needs of the community. In 2023, we produced 100% of the water used by our residents and businesses, and we project the same for 2024. We start 2024 with unencumbered Water Funds at $896,155. I believe $1,000,000 is a reasonable and appropriate goal for the minimum beginning year balance. The 2024 Budget has spending at $300,676 more than revenue. This includes $631,000 in water-related capital expenses. In January 2024, we raised our water rates. It had been seven years since we last raised the water rates. Based on the 2023 regional water rate survey, we have the 3rd lowest water rates out of the 68 Miami Valley jurisdictions. Given the 2024 deficit, and the projected capital needs over the next few years, we should consider another rate increase in 2025.
SANITARY SEWER UTILITY
We start 2024 with unencumbered Sanitary Sewer Funds at $1,553,646. As with the Water Utility, I believe the appropriate and necessary amount is $1,000,000. Given the announced 2024 wastewater treatment rate increases being imposed by the city of Dayton and by Montgomery County, we raised our sanitary sewer rates effective January 2024. Montgomery County and the city of Dayton also raised their sanitary sewer rates in 2023. We last raised sanitary sewer rates in January 2018. The 2024 Budget includes $428,700 in sanitary sewer-related capital expenditures and has total spending at $454,339 more than revenue. We should consider another sanitary sewer rate increase in 2025. Our Sanitary Sewer Utility consists of the Oakwood sewer maintenance personnel and underground sewer infrastructure, as well as outside sewer and wastewater treatment services for which we contract with Montgomery County and the