KUA Board Adopts $300 Million Budget
On Wednesday, the Kissimmee Utility Authority board of directors approved a $300 million operating and capital budget for fiscal year 2024. The vote came after several Board discussions and a public hearing on the budget.
The approved budget is a 3 percent decrease from the 2023 budget. The decrease is related primarily to lower expenditures in fuel and purchased power. This budget also marks the utility’s 19th consecutive year without a base rate increase. The utility’s last base rate increase was in July 2005.
The budget authorizes 288 full-time equivalent positions, an increase of one position, and reflects a five percent market level adjustment for employees.
Other highlights of the FY 2024 budget include:
- $142 million for fuel and purchased power
- $22 million for capital expenditures
- $33 million for transfers to the City of Kissimmee, City of St. Cloud, and Osceola County
- Total employee base of 288 with an associated payroll of $46 million
- Expected customer growth of 2.0 percent over FY23 projection
- Forecasted energy sales increase of 1.0 percent over FY23 projection
The new budget takes effect on October 1, 2023.