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Board hears $17.15 million public-utility budget update and debt-service warning
Summary
County staff trimmed the FY26 public-utility budget, moved large capital items between years and warned that a proposed $13 million borrowing would increase rates or require a 4% revenue increase in FY27 to cover debt service.
New Kent County staff told the Board of Supervisors on April 14 that the proposed FY26 public-utility budget and capital-improvement plan (CIP) had been revised downward and that borrowing to cover capital projects would raise future debt-service costs.
Finance staff said the department reduced the recommended budget by $8,631,773 to a total budget including CIP of $17,153,643 after updated cost estimates and schedule changes from engineering consultants. Key changes include reducing the water-system interconnector Phase 1A from $7 million to $5.5 million and moving the Brickshire elevated storage tank into FY2027 and…
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