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10 City of Pleasanton Operating Budget • FY 2023/24 - FY 2024/25 <br />During these deficit years, the City will need to consider a number of options, including 1) exploring <br />opportunities for revenue enhancements and/or new revenue streams; 2) reducing operating <br />expenses; 3) reducing allocations to the CIP and Repair & Replacement Funds, and/or 4) drawing on <br />the Section 115 Pension Trust Fund to help cover pension expenses. <br /> <br /> <br /> <br /> <br />Enterprise Funds <br />The City’s enterprise funds include utility programs (Water, Sewer, Storm Drain), golf, cemetery, and <br />paratransit services. Water and Storm Drain utilities are highlighted below. <br />Water Fund <br />The City’s Water Utility operation is facing <br />challenges. To close a funding gap that exists <br />in the Water and Recycled Water Operating <br />Funds, operating expenditures, excluding <br />water purchase costs, have been reduced <br />by approximately $1.3 million in FY 2023/24 <br />compared to FY 2022/23. Additionally, revenues <br />from water sales are expected to increase by <br />14.9 percent in FY 2023/24 and increase by <br />additional 9.5 percent in FY 2024/25. Large <br />increases are due to the City-owned wells, <br />which account for approximately 20.0 percent <br />of the City’s water supply needs, not currently in <br />operation while a viable solution to contaminants is being explored. In addition, the City’s water rates <br />have not been adjusted since 2020, which has resulted in revenues not keeping up with increasing <br />operating and infrastructure maintenance costs.