2022 Budget Equips Tampa Bay Water to Meet Region’s Growth
Tampa Bay Water’s board of directors approved the utility’s fiscal year 2022 budget with a slight rate increase to help meet the growing needs drinking water of the region. The new uniform water rate is $2.5634/1,000 gallons, an increase of 0.17 percent ($0.0044) over the current year. For a typical residential household, which uses about 4,200 gallons of water a month, the rate increase means an extra $0.02 in their monthly bill.
“Even with this modest increase, wholesale water remains a value at less than a penny per gallon,” said Christina Sackett, Tampa Bay Water’s chief financial officer. “We have several new projects on the horizon to bring additional high-quality drinking water to our growing region, and this budget was prepared with that in mind.”
The utility’s $186.5 million budget sets capital and operating costs at a uniform rate shared by all six of its member governments. The 2022 budget includes funding for four new positions, the Tampa Bay Water Wise conservation program, feasibility studies to determine the next set of water projects to meet the region’s needs, and additional capital improvement and renewal and replacement projects.
The budget also includes a 10-year Capital Improvements Program (CIP) with 94 projects in varying phases, 63 of which have not yet started. The CIP budget was allocated $39.3 million for fiscal year 2022 and comprises 31 active projects. Most of the projects in the CIP replace aging infrastructure or are required to maintain service levels while meeting increased demand in the next 10 years. Remaining projects address supply reliability, safety and security, mitigation and water quality improvements.