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PUC tells supervisors mid‑cycle budget can cover higher capital needs while keeping rates affordable
Summary
Public Utilities Commission General Manager Harlan Kelly told the Board’s Budget & Finance Committee that the PUC can absorb cost increases through savings and refinancing while advancing a $7.5 billion 10‑year capital plan, including a $2.7 billion Phase 1 of the sewer improvement program; the commission previewed a rate‑setting schedule culminating in potential new rates effective July 2014.
Harlan Kelly, general manager of the San Francisco Public Utilities Commission, told the Board of Supervisors’ Budget & Finance Committee on May 8 that a mid‑cycle review of the PUC’s two‑year budget yields “good news” and that increases identified in the department’s operating and capital plans can be covered through savings, refinancing and project phasing. Kelly said the department is using a 10‑year capital and financial plan to balance three priorities: continuous service delivery, maintaining infrastructure and preserving ratepayer affordability.
Kelly said the PUC’s annual operating budget is about $890 million and highlighted refinancing and low‑cost bond financing that he said will generate substantial long‑term savings. He reported that the Water Enterprise’s WESIP work is nearly 75…
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