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Board adopts preliminary FY2026–27 utility budget including $54M electric revenue estimate
Summary
The board approved the preliminary 2026–27 utility budget covering electric, telecom, water and wastewater funds; highlights include $54 million electric revenue forecast, $39 million projected power costs, $3 million capital purchases and inclusion of $1.5 million local share for lead replacements (assuming 50% DWSRF reimbursement).
The Cola Board of Public Utilities approved the preliminary fiscal year 2026–27 budget after a staff presentation covering the electric, telecommunications, water and wastewater funds.
Carmen led the budget overview, saying the electric fund estimates $54 million in revenue with an estimated $39 million in power costs and total wages of about $7.5 million; capital purchases were projected at $3 million with major line items including annual voltage conversions ($400,000) and a $200,000 transformer purchase. Telecom revenue was projected at $2.3 million with capital spending of about $360,000; wastewater revenue was estimated at about $7 million with $1.8 million in capital needs and a bond issuance likely to fund major projects. Carmen noted the budget includes $1.5 million as the local share for lead service line replacement projects under the assumption of a 50% reimbursement from the state.
Board members asked few questions during the presentation and a motion to accept the preliminary budget was approved by voice vote. Staff said more detailed project estimates and bid results (particularly for the wastewater treatment plant expansion) will be provided as they are finalized and will inform future bond and rate decisions.
