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Weatherford staff presents proposed FY25 municipal utility budget; $84.1M revenue forecast
Summary
Budget coordinator Ashley Esquivel presented the FY25 proposed municipal utility budget with $84.1 million in revenues, $72.2 million in expenses and a projected net operating result of $11.9 million; staff said about $11.4 million will be contributed to capital and reserves and working capital is projected at $18.3 million (~167 working days).
Ashley Esquivel, budget coordinator, gave the board an overview of the proposed Fiscal Year 2025 municipal utility budget and answered board questions.
Esquivel told the board the fund-wide proposal includes $84,100,000 in revenues and $72,200,000 in expenses, producing a net operating result of $11,900,000. She said roughly $11,400,000 of that would be used for contributions to capital and reserves, including water and wastewater capital, an electric vehicle reserve and a substation reserve. She projected working capital at $18,300,000, or about 167 working days, with $9,900,000 representing a 90-day reserve and an available balance afterward of approximately $8,400,000.
Esquivel noted the budget includes new water and wastewater rates that would take effect Jan. 1, 2025, and staff invited board members to submit any follow-up questions to her or CFO Don Brooks.
The board took no formal action on the budget at the meeting; the adoption is scheduled for a later meeting.
