The Jackson Energy Authority Board of Directors approved a resolution adopting fiscal year 2021 budgets during their monthly meeting at the Tennergy Center, Thursday.
The Board was presented with the FY 2021 Budgets and the 2021-2025 Five-Year Plans for each of JEA’s five divisions.
Highlights of the proposed fiscal year 2021 budgets include –
Combined sales revenue is projected to be $234.1 million
Capital expenditures are projected to be $32.9 million
Operating & Maintenance expenditures are projected to be $56.1 million
Net income after contributions is projected to be $18.8 million
No division is projecting a base rate increase. Telecom is projecting an 11.7% pass-through rate action for Cable only due to retransmission costs from broadcasters
No new bond issues are anticipated in FY 2021. The Water and Wastewater Divisions project borrowing $2.3 million from the State Revolving Fund Loans.
In addition, the Wastewater Division will receive $6.9 million in federal grant funds and principal forgiveness.
“This month the JEA Board approved a couple of resolutions,” said Jim Ferrell, president/CEO of Jackson Energy Authority, “One … the most important one was the budget for 2021.
“We had delayed the budget some, because of the COVID-19 environment, and didn’t know what our revenues were going to be.”
Ferrell also mentioned the purchase of equipment to return tree trimming back in house.
“The resolution authorized the purchase of two new 70-foot insulated tree trimming aerial devices on cab and chassis,” Ferrell said, “One new chip dump body truck on a cab and chassis, and one 15-foot brush grinder for the Electrict Department.”
The two new aerial devices will be purchased from Altec Industries, Inc. (Southwell) in the amount of $209,646 each, and one new chip dump body truck in the amount of $91,513 totaling $510,805 for all equipment.
The Board also approved the purchase of one new 15-foot brush grinder from Williams Equipment and Supply in the amount of $58,026.03
(PHOTO: Monte Jones, chairman of the Board of Directors of Jackson Energy Authority, left, and Jim Ferrell, president/CEO of JEA)
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