(A) A profit and loss summary shall be prepared by or on behalf of the Commission for the June 30, 1993 audit period which will indicate if each component is profitable. Each such component that is not profitable will have an automatic rate increase. The amount of the rate increase will be determined by the amount of additional revenue necessary to make that component profitable multiplied by 20%.
(1) The June 30, 1994 audit period will go through the same process. The rate increase for the unprofitable component(s) will be the amount necessary to make them profitable multiplied by 25%.
(2) The June 30, 1995 audit period will go through the same process. The rate increase for the unprofitable component(s) will be the amount necessary to make them profitable multiplied by 33%.
(3) The June 30, 1996 audit period will go through the same process. The rate increase for the unprofitable component(s) will be the amount necessary to make them profitable multiplied by 50%.
(4) The June 30, 1997 audit period will go through the same process. The rate increase for the unprofitable component(s) will be the amount necessary to make them profitable multiplied by 100%.
(5) Thereafter, there will be an automatic annual rate increase by the water component and the sewer component by the greater of:
(a) Amount necessary to be profitable, or
(b) Wholesale Price Index (or the successor thereof).
(B) All rate increases will take effect no later than August 1, following the end of the June 30 fiscal year.
(C) The profit and loss on which the rate increase will be based does not have to be audited.
(D) The rate increase may be across the board or graduated by class of uses.
(Ord. passed 3-15-93)