KISSIMMEE, Fla., July 12, 2017 – The Kissimmee Utility Authority board of directors on Wednesday approved a $252.6 million operating and capital budget for fiscal year 2018. The vote came after a workshop and public hearing on the budget.
The approved budget is a 12 percent increase over the 2017 budget. The majority of this increase is related to projected increases in fuel and purchased power costs, primarily driven by higher natural gas prices.
The budget marks the utility’s 13th consecutive year without a base rate increase. The utility’s last base rate increase was July 2005.
The budget authorizes 288 full-time equivalent positions, a decrease of four positions from the current budget. This reflects the utility’s lowest staffing levels since 2005. The budget also reflects a four 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 2018 budget include:
• $138.3 million for fuel and purchased power
• $29.3 million for capital expenditures, the majority of which is related to growth and improvement of the utility’s transmission and distribution system
• $28.3 million for transfers to the City of Kissimmee and Osceola County for electric sales and taxes
• Total employee base of 288 with an associated payroll of $35 million
• Expected customer growth of 2.0 percent
• Forecasted energy sales increase of 1.4 percent
The new budget takes effect October 1, 2017.
Founded in 1901, KUA (www.kua.com) is Florida’s sixth largest community-owned utility powering 72,000 customers in Osceola County, Fla.