AMU to hold public hearing over adopted budget tonight
December 3rd, 2012 by Ric Hanson
A public hearing will be held this evening in Atlantic, with regard to Atlantic Municipal Utilities’ Fiscal Year 2013 Budget. The meeting takes place at 5:30-p.m. in AMU’s business office at 15 West 3rd Street.
AMU says its total budget for 2013 is up 12.1-percent from the current year. They are calling for a 10-percent increase in water rates and a 7.5-percent increase in electric rates to make up for wholesale increases in the cost to obtain electricity and other related expenses. The utility says they’ve seen a 35.5-percent increase in electric production costs and a 21.5-percent increase in the cost of transmitting electricity.
If approved, the new rates for AMU’s customers would become effective with the February1st, 2013 billing. AMU’s budget report says even with a rate increase, their fund balance will decline by 9.2-percent (or $431,000). They claim their overall rates will still be lower than the regional average, as well.
The Atlantic City Council will be asked to accept AMU’s budget report during the Council’s meeting on Wed., Dec. 5th.