As shown in the chart below, the Water Funds cash balance would be negative by 2025. We would be forced to eliminate our investment in necessary capital improvements in the distribution system and other areas. This would lead to more frequent infrastructure failures, water service interruptions, water loss, street damage and property damage. The end result would be higher operating costs, thereby reducing the funds now slated for infrastructure investments. By 2027, we would not be able to pay debt service. Reserve funds would be exhausted leaving the water system vulnerable to emergencies such as earthquakes.