KISSIMMEE, Fla., July 11, 2007 – In a unanimous vote on Wednesday, the Kissimmee Utility Authority board of directors adopted a $270 million budget for fiscal year 2008, a $32 million increase over fiscal year 2007’s $238 million budget.
The adopted budget includes $135 million for fuel and purchased power and $19 million for construction and capital expenditures.
The majority of the capital expenditures are related to growth and reliability enhancements to KUA’s transmission and distribution system. The 2008 budget includes work on three new electric substations: Pleasant Hill, Osceola Parkway and Neptune Road.
The budget includes $16.3 million in transfers to the city of Kissimmee and Osceola County for electric sales and taxes.
The 2008 budget reflects a decrease of two positions from the authorized 307.5 positions, decreasing KUA’s total employee base to 305.5 with an associated payroll of $24 million. Payroll for the budget is based on a market level adjustment of three percent for utility employees.
Customer growth in FY 2008 is expected to rise 3.1 percent, while energy sales are forecasted to increase by 4.2 percent.
No base rate increases are planned for the new budget year.
Founded in 1901, KUA (www.kua.com) is Florida’s sixth largest community-owned utility providing electric and telecommunication services to 170,000 residents in five Central Florida counties.
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Chris M. Gent