The first of two Webcasts introduced the audience to an assessment of the financial condition and revenue model of water utilities in North America and the factors influencing financial performance. While it seems most research and high-profile policy papers today focus on the “cost” side of the financial balance utilities must navigate, this project primarily addresses the revenue and rates side of the equation. The analysis clearly shows that there is not one generalizable “new normal” or inevitable pre-ordained financial outcome for the industry. There are clearly differences between regions, states, and utilities. The analysis shows that although the prevailing revenue model has posed significant problems for many utilities in the recent past, it continues to serve many utilities relatively well.