Marks 11th Consecutive Year with No Base Rate Increase;
All Long-Term Debt Paid Off by 2018
KISSIMMEE, Florida, July 1, 2015 – The Kissimmee Utility Authority board of directors on Wednesday approved a $225.8 million operating and capital budget for fiscal year 2016. The vote came after a workshop and public hearing on the budget.
The approved budget is a 1.5 percent increase over the 2015 budget and marks the utility’s 11th consecutive year without a base rate increase. The utility’s last base rate increase was July 2005.
The budget authorizes 292.5 full-time equivalent positions, a decrease of 9.5 positions from the current budget. This reduction is primarily due to the end of the Toho Water Authority customer services contract which began in 1989. The budget also reflects a three percent market level adjustment for employees.
With the objective of keeping KUA strategically positioned, budgetary projections have all long-term debt paid off by fiscal year 2018.
Other highlights of the FY 2016 budget include:
- $124 million for fuel and purchased power
- $16 million for construction and capital expenditures, the majority of which is related to reliability enhancements
- $26 million for transfers to the City of Kissimmee and Osceola County for electric sales and taxes
- Total employee base of 292.5 with an associated payroll of $33 million
- Expected customer growth of 0.9 percent
- Forecasted energy sales increase of 0.4 percent
The new budget takes effect October 1, 2015.
Founded in 1901, KUA (http://kua.com) is Florida’s sixth largest community-owned utility powering 67,000 customers in Osceola County, Florida.
Contact: Chris Gent