Utility advisory board approves five-year budget, adds staff and signals multi-year rate increases

The Punta Gorda City Utility Advisory Board on June 23 approved the utilities division budget for fiscal year 2026 and endorsed adding five positions to the utilities staffing plan, while staff outlined a five-year capital improvement program that would require substantial financing and multi‑year rate increases.

The board’s action approved the proposed budget “as presented plus the 5 additional positions,” a motion that passed by voice vote. Board members discussed a proposed rate plan staff used in the pro forma, which includes 12% annual increases through fiscal 2029 and a 5% increase in fiscal 2030 to fund an ambitious capital program and debt service.

The vote followed a detailed presentation from Tom Spencer, utilities director, and Chris Simeon, finance director, who reviewed revenues, planned projects and financing assumptions. Spencer told the board the current pro forma assumes a 12% rate increase through fiscal 2029 and a 5% increase in fiscal…