News Release
For Immediate Release
Contact: Brandon Moorebmoore@tampabaywater.org(727) 791-2304
CLEARWATER, Fla. (May 18, 2026) – Tampa Bay Water’s Board of Directors approved the utility’s $223.8 million operating budget and $291.4 million Capital Improvements Program (CIP) budget for fiscal year 2027. The budgets address the needs of the growing Tampa Bay region while supporting the board’s core goals: maintaining a reliable water supply, protecting the environment, and keeping rates affordable for member governments and their customers.
The Tampa Bay region is projected to need an additional 38 million gallons per day (mgd) of drinking water by 2043, with up to 25 mgd by 2033. Tampa Bay Water’s fiscal year 2027 budget reflects continued investment in infrastructure and planning to meet these long-term needs while maintaining financial stability.
“Through careful financial planning and disciplined use of our reserves, we’ve been able to continue investing in critical infrastructure while keeping rate increases low for our member governments,” said Chuck Carden, general manager for Tampa Bay Water. “This approach helps ensure reliable, high-quality drinking water remains affordable across the region.”
The uniform water rate for fiscal year 2027 is $2.6593 per 1,000 gallons, a 0.78% increase from the current fiscal year — approximately two cents per 1,000 gallons. Tampa Bay Water used $4 million from its Rate Stabilization Fund to help reduce what would have been a larger rate increase, limiting the change to approximately two cents per 1,000 gallons. At less than a penny per gallon, wholesale water remains an affordable essential public service for the Tampa Bay community.
This continued use of reserves reflects a multi-year strategy to build financial flexibility and minimize impacts to member governments while addressing inflation, system needs and future capital investments. Tampa Bay Water also continues to manage increasing debt service associated with major infrastructure projects through a combination of operational efficiencies, long-term financial planning, cash reserves and strategic bond financing. The approved budget includes funding for 167 positions, adding four new roles that will improve system reliability and bring certain services in-house, resulting in long-term operational efficiencies and cost savings.
Projected regional water demand for fiscal year 2027 is 212.84 mgd, an increase of approximately 3.14 mgd from the prior year. Tampa Bay Water will meet this demand using a diverse supply mix that balances environmental stewardship with operational efficiency:
Maintaining this balanced approach helps protect natural resources while ensuring a reliable supply for the region.
The fiscal year 2027 Capital Improvements Program includes 43 active projects totaling $291.4 million, representing a significant investment in the region’s water future. Major projects include:
These projects are critical to expanding system capacity, improving reliability and supporting continued regional growth. Additional funding supports dozens of infrastructure upgrades, asset maintenance efforts and water quality improvements across the regional system.
As a regional wholesale water supplier, Tampa Bay Water operates as a not-for-profit public utility and does not levy taxes. Its budget is funded through the sale of water to its member governments, and the agency remains committed to providing high value through efficient operations and responsible financial management.
Tampa Bay Water’s fiscal year 2027 budget continues the agency’s commitment to long-term planning, operational efficiency and responsible financial management—ensuring the Tampa Bay region has a sustainable, high-quality drinking water supply for years to come.
For news media requests, please contact: Brandon Moore, APR Public Communications Manager O: (727) 791-2304 | M: (727) 470-0702
Malique Rankin Public Communications Specialist O: (727) 791-2315 | M: (727) 337-5833
