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PUAB reviews budgets, capital projects and staffing impacts on billing
Summary
The board received monthly financial reports: Power & Light reported $157 million budget with $63 million used YTD and higher investment income; water and sewer budgets and capital project spending were reviewed; staff cited meter‑reading short staffing that led to estimated bills and plans to add ETRs on outage maps.
At the meeting, finance staff walked the board through operating and capital numbers across Power & Light, water and sanitary sewer.
Power & Light: the presenter said the department budgeted roughly $157,000,000 in operating revenues and had used about $63,000,000 year-to-date. Monthly operating expenses were low relative to revenues. Investment income was above budget — "Budget amount was around 500,000, but we're sitting at 1,300,000.0 year to date," the presenter said. Amended capital projects for IPL were shown at about $51,000,000 with limited spending so far.
Water: staff said the amended water budget was about $32,000,000 with approximately $12,000,000 used year-to-date; operating revenues were roughly 4% and expenses close to 8% with a debt-service spike from bonds paid in October. Sanitary sewer reporting showed an amended budget near $35,000,000, YTD revenues around 11.6% and expenses near 5%; capital projects were amended to about $21,000,000 with approximately $1,500,000 used.
The board discussed customer concerns about higher bills. Utility staff attributed some variances to higher October temperatures and humidity and to recent meter-reading short staffing that required several estimated billing cycles. Staff noted work to add estimated time of restoration (ETR) displays to outage maps by February to improve customer information during outages.
The meeting closed after brief board comments; a motion to adjourn was made and seconded.
