Rates are set bi-annually through a year-long process that begins with a budget based on capital and operating needs. DC Water conducts a Cost of Service Study every three years as a good faith effort to study the impact of any rate change on its customers before submitting any rate for approval by the DC Water Board of Directors. Once the budget is approved by the Board of Directors, the proposed rate structure is published in the DC Register and communicated via various news and media outlets and DC Water holds a public hearing to provide customers the opportunity to comment on the proposed rates. Finally, the DC Water Board of Directors vote on the rate proposal in July, to be implemented in the new fiscal year (October 1st). Currently, DC Water is setting two-year budgets. (Excerpted from the Rates Section of the Consumer Bill of Rights).