The Kissimmee Utility Authority board of directors on approved a $222 million operating and capital budget for fiscal year 2015. The vote came after a workshop and public hearing on the budget.
The approved budget is $7.4 million, or three percent, higher than the 2014 budget and marks the utility's tenth consecutive year without a base rate increase. The utility's last base rate increase was July 2005.
The budget authorizes 302 full-time equivalent positions, which is a decrease of three positions from the current budget. The budget also reflects a three percent cost of living increase for employees and provisions to comply with the Patient Protection and Affordable Care Act.
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 2015 budget include:
- $126 million for fuel and purchased power
- $14 million for construction and capital expenditures, the majority of which is related to reliability enhancements
- $25 million for transfers to the City of Kissimmee and Osceola County for electric sales and taxes
- Total employee base of 302 with an associated payroll of $33 million
- Expected customer growth of 1.6 percent
- Forecasted energy sales increase of 1.4 percent
The new budget takes effect October 1.
Founded in 1901, KUA is Florida's sixth largest community-owned utility powering 64,000 customers in Osceola County, Fla.