Financial - Tampa Bay Water Blog
Archive by category: FinancialReturn
One of the toughest decisions water utilities face is when to develop new water projects. If new infrastructure is built before it is needed, it can be an underused asset impacting the financial health of the utility. Not only may rates increase to finance the project, but the utility’s debt ratio may reduce its credit rating, making it harder to secure funding for future projects ...
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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.
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Tampa Bay Water’s proposed 2022 budget calls for a slight increase in the uniform water rate: $2.5634/1,000 gallons, an increase of 0.17 percent ($0.0044) over the current year. For the average household, which uses a little less than 4,200 gallons of water a month, the proposed rate increase would mean an extra $0.02 in their monthly bill.
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Tampa Bay Water has been awarded the Popular Annual Financial Report (PAFR) Award for the fiscal year ended September 30, 2019. With this award, the utility will also receive a special Triple Crown medallion, which signifies receiving all three Government Finance Officers Association (GFOA) awards (the Certificate of Achievement for Excellence in Financial Reporting Award, Distinguished Budget Presentation Award, and Popular Annual Financial Reporting Award) for fiscal year 2019.
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Tampa Bay Water’s board of directors approved the utility’s 2021 fiscal year budget with no rate increase, maintaining a wholesale drinking water rate of $2.56 per 1,000 gallons for the tenth consecutive year.
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