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Baldwin City reviews midyear electric rate options as staff projects budget shortfall
Summary
City staff told the finance committee the electric fund faces a roughly $600,000 shortfall under current rates and presented scenarios — including a July rate increase and changes to a 6% franchise transfer — to rebuild reserves to policy levels by 2027.
At a Baldwin City finance committee meeting, staff presented an electric‑fund forecast showing a projected expense budget of about $6.08 million for 2025 and a revenue shortfall under the current net rate.
Staff member (Speaker 4) said the model assumes roughly 38,000,000 kilowatt‑hours and that, under current assumptions, the net rate would need to be about $0.655 per kilowatt‑hour to meet expenses; the net rate in place at the start of the year was roughly $0.539. "We need to be charging 0.655 in a net rate," Speaker 4 said, framing the size of the gap the council must address.
The presentation showed staff estimates that a 25% reserve target (a staff/committee scenario discussed earlier) would produce an ending cash balance near $345,000 in 2025 if all adjustments are phased in a particular way; Speaker 1 cautioned that figure "is…
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