FINANCIAL BUSINESS REQUEST (FBR)
Motion/Request:
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MOTION to adopted a proposed Fiscal Year 2024/2025 Water Operations Budget in the amount $1,517,183.62.
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Background:
In accordance with Section 4 of Ordinance #400-001 “An Ordinance Establishing a Water Pollution Control Authority” which states: “The WPCA shall provide, by the fourth Monday in April, a budget of estimated revenues, expenditures and capital improvements for the ensuing fiscal year for inclusion as an appendix in the Town annual budget. The Town Council shall approve the water system budget”. (see attached Ordinance)
Water Operations Proposed Fiscal Year 2024/2025 Budget:
Water Operations: $1,517,183.62; an increase of $54,604.84 over the Fiscal Year 2023/2024 Budget.
Groton Utilities notified the WPCA that they would be increasing the cost of water by 5% to commence on October 1, 2024. The WPCA would be scheduling a Public Hearing sometime in April, 2024 to present the 5% water rate increase to the Ratepayers; as it would be included in the upcoming Fiscal Year 2024/2025 Water Operations Budget.
With the 5% water rate increase the Fiscal Year Water Operations Budget increased by $54,604.84 impacting the following account lines:
ü Contingency - increase of $35,476.44
ü Water Usage Charge - increase of $19,128.40
Sewer Operations Proposed Fiscal Year 2024/2025 Budget:
Sewer Operations: $671,749,.3452 an increase of $19,658.55 or 4.5% over the Fiscal Year 2023/2024 Budget.
The Town Council was not required to approve Sewer Operations Budget, but that it was typically provided for informational purposes only.
Department Comment/Recommendation:
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Finance Director Comment/Recommendation:
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Mayor Comment/Recommendation:
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