Paris, Tenn.–The Paris Utility Authority (PUA) Board of Directors met for its regular monthly meeting on June 25. President & CEO Terry Wimberley reported all departments are in solid financial standing with one month left in the fiscal year.
In a follow up to last month’s conversation, the Board approved both a water and a wastewater rate increase that will go into effect July 1, 2024. Each increase will have an estimated $5 per month impact on the average Paris BPU water user. The approved increase will produce revenues that support ongoing increases in the operation and maintenance of the water system as well as needed staff additions. Revenues will also support future debt that will fund large rehab projects and general capital improvements/repairs.
The board formally approved the fiscal year 2025 budgets in all three departments. Details of approved budget includes:
- Additional revenues from rates
- Continued savings from the solar installation at Puryear
- Staff additions in all three departments
- 3.5% wage adjustment for employees
- Software and cybersecurity upgrades
- Increase in health insurance cost
- Increased depreciation expense
- Electric debt service to cover construction of a new transmission line, rehab of two substations and an addition to the downtown office building
- Water and wastewater debt service to cover major infrastructure rehab and the demolition of the old water treatment facility
- 2 new bucket trucks
- Total of 5 work/crew trucks
- Inspection of transmission line poles
In other action, the Board approved bids for a transmission line right-of-way clearing project and the relining of Well #1. Also, a list of professional service providers who will serve the utility during the next fiscal year was approved. The list includes legal, financial, and engineering consultants. Additionally, Tracy Tharpe was reappointed to the Paris BPU Round Up board for a new five-year term.
In his President’s report, Wimberley informed the board that the application period is open during the month of June for an upcoming Customer Academy. A significant number of applications have already been received and interested individuals are encouraged to get applications turned in prior to June 30.
The July meeting of the Board is scheduled for Tuesday, July 30, 2024.