The Kissimmee Utility Authority board of directors on Wednesday approved a $255 million operating and capital budget for fiscal year 2019. The vote came after a workshop and public hearing on the budget.
The approved budget is a six percent decrease from the 2018 budget. The decrease is related to projections in fuel and purchased power costs, primarily driven by lower natural gas prices and a reduction in capital expenditures. The budget also marks the utility’s 14th consecutive year without a base rate increase. The utility’s last base rate increase was in July 2005.
The budget authorizes 289 full-time equivalent positions, an increase of one position from the current budget and reflects a four percent market level adjustment for employees.
Other highlights of the FY 2019 budget include:
- $125.4 million for fuel and purchased power
- $30.8 million for capital expenditures, the majority of which is related to growth and improvement of the utility’s transmission and distribution system
- $29.6 million for transfers to the City of Kissimmee and Osceola County for electric sales and taxes
- Total employee base of 289 with an associated payroll of $36 million
- Expected customer growth of 2.0 percent
- Forecasted energy sales increase of 1.4 percent
The new budget takes effect Oct. 1, 2018.
Founded in 1901, KUA is Florida’s sixth largest community-owned utility powering 74,000 customers in Osceola County, Fla. For more information, visit https://kua.com.