This joint discussion on water utility cost trends was presented at the 1967 AWWA Annual Conference in Atlantic City, New Jersey. Topics and presenters included: Interest Rates, by Stanley L. Cohen of the Dade County Water and Sewer Board, North Miami Beach, Florida; Estimating Depreciation, by Ernest C. North of Whitman, Requardt & Associates, Baltimore, Maryland; and, Labor and Material, by Charles B. Adelmann of the East Bay Municipal Utility District, Oakland, California.