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City manager outlines water and wastewater budget; West Lubbock expansion will use revenue bonds
Summary
City Manager Jared presented the water and wastewater enterprise budget, projecting slightly higher water revenue, no reserve drawdown this year, and major capital spending including the second half of the West Lubbock water expansion funded with revenue bonds.
City Manager Jared opened the enterprise portion of the budget work session with a review of water and wastewater finances, saying the city expects slightly higher water revenue next year and does not plan to dip into combined water/wastewater reserves for the coming year. "We do think that will hold," Jared said of higher consumption following a wet year.
The budget model combines revenues, operations, debt and capital. The nut graf: the utility fund projects to finish the current fiscal year with modest positive results and plans significant cash capital spending next year while financing the remaining portion of the West Lubbock water expansion with revenue bonds rather than property tax-backed debt.
Most of the fund-level details presented were technical but consequential: projected…
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