KUA Board Adopts $300 Million Budget

On Wednesday, the Kissimmee Utility Authority board of directors approved a $300 million operating and capital budget for fiscal year 2024. The vote came after several Board discussions and a public hearing on the budget.

The approved budget is a 3 percent decrease from the 2023 budget.  The decrease is related primarily to lower expenditures in fuel and purchased power.  This budget also marks the utility’s 19^th consecutive year without a base rate increase. The utility’s last base rate increase was in July 2005.

The budget authorizes 288 full-time equivalent positions, an increase of one position, and reflects a five percent market level adjustment for employees.

Other highlights of the FY 2024 budget include:

• $142 million for fuel and purchased power
• $22 million for capital expenditures
• $33 million for transfers to the City of Kissimmee, City of St. Cloud, and Osceola County
• Total employee base of 288 with an associated payroll of $46 million
• Expected customer growth of 2.0 percent over FY23 projection
• Forecasted energy sales increase of 1.0 percent over FY23 projection

The new budget takes effect on October 1, 2023.