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News : TMU Releases Updated Budget Figures
Posted by Randy on 2014/4/17 9:46:28 (253 reads) News by the same author

Trenton Municipal Utilities has released updated budget figures for the fiscal year beginning May 1st.
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The revisions were made after the Trenton City Council, on Monday night, did not allow a 1.5% pay increase for TMU workers. The pay increase was contained in the TMU budget approved last week by the Board of Public Works and sent to the City Council for final consideration.

The budget figures are slightly improved without the pay increases. However, the TMU waste water, electric, and water departments still have large declines in cash flow from the beginning of the fiscal year on May 1st to the end of the year on April 30th, of 2015.

The TMU operating budget shows profits in each of those departments. However, operating budgets do not include debt payments and capital projects.

When those figures are included, net cash is budgeted to decrease by more than $1.3 million in the waste water fund, $560,000 in the electric department, and by $362,000 in the water department.

That would leave unrestricted cash and investments on April 30th of next year at an estimated $1,657,000 in the electric department, $941,000 in the water department, and $756,000 in the waste water department.

Trenton Municipal Utilities is scheduled to transfer $120,000 to the City of Trenton in the upcoming fiscal year. That comes after nearly $111,000 was transferred from TMU to the City in the current fiscal year, which ends this April 30th. In addition, the City is not scheduled to pay for street lights this fiscal year or in the upcoming 12 month period. That's a loss to TMU of about $98,000 each year.

Combined, all of those figures total a loss for TMU of nearly $427,000.

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