Financial - Tampa Bay Water Blog
Archive by category: FinancialReturn
At its June meeting, Tampa Bay Water’s board of directors approved the agency’s fiscal year 2018 budget with no wholesale rate increase. The 2018 budget maintains a wholesale drinking water rate of $2.56 per 1,000 gallons for the seventh consecutive year.
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At its June, 2016, meeting Tampa Bay Water’s board of directors approved a budget with no rate increase for the sixth consecutive year. The wholesale rate remains $2.56 per 1,000 gallons of clean, safe drinking water. This is great news for Tampa Bay Water’s six member governments, the cities of New Port Richey, St. Petersburg and Tampa, as well as Hillsborough, Pasco and Pinellas counties, and the more than 2.4 million residents they serve.
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Tampa Bay Water must approve a budget by August 1 of each year, but the development starts about nine months earlier. It’s an inclusive process involving staff and our member governments to ensure the best possible budget for the regional utility.
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Tampa Bay Water’s 2015 Fiscal Year Budget has been awarded with a Distinguished Budget Presentation Award from the Government Finance Officers Association of the United States and Canada (GFOA). This marks the seventh consecutive year that the agency has been bestowed this notable honor.
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Tampa Bay Water is a not-for-profit governmental entity. It is funded through the wholesale water rate, which is a uniform rate that each member government pays. The water rate, which is currently $2.559 per 1,000 gallons, includes everything it takes to run and operate the water supply system, including energy and chemical costs, maintenance, staffing and debt.
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