Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Utilities Finance topic
No spam. Unsubscribe anytime.
Commission accepts FPUA final budget amendment and audit, approves ~$8.07 million distribution to city
Summary
Fort Pierce Utilities Authority presented its FY2025 final budget amendment and audit; the commission approved resolutions accepting both and authorized a distribution to the city of $8,069,838. Presenters highlighted PFAS settlement funds, grant funding, the DART program, and planned debt issuance.
Fort Pierce Utilities Authority officials presented the authority's final budget amendment and FY2025 audit to the City Commission on April 6; the commission approved the related resolutions unanimously.
FPUA representative Mr. Cisneros described operational highlights and a set of infrastructure projects, and said the authority had recognized settlement funds related to PFAS litigation. Michelle Harris, FPUA chief financial officer, presented financial results: total revenues for FPUA were described in the presentation as approximately $174,000,000 for the fiscal year ending Sept. 30, 2025, and the authority reported a net increase in net position of $42,400,000, largely driven by settlement and grant receipts earmarked for capital projects.
Mr. Cisneros told the commission the city's distribution, calculated per the charter and interlocal agreement, would be $8,069,838 and would be paid to the city in April 2026 if approved. Commissioners asked about state legislation under consideration that could eliminate a 25% surcharge applied to customers outside the city limits; Mr. Cisneros said the change — if enacted — could reduce distributions and would require a rate study and consultant work to assess the impact.
The commission approved Resolution 26‑R‑22 (accepting FPUA's final budget amendment) and Resolution 26‑R‑23 (accepting FPUA's FY2025 annual comprehensive financial report) by unanimous roll call.
FPUA said it continues to pursue grant funding and capital projects including wastewater plant relocation and conveyance system improvements; it also noted plans for a debt issuance to fund major projects.
