CU approves operating budget

The Board of Public Utilities for City Utilities of Springfield approved its fiscal 2023 operating budget.

The budget, which provides disbursement authority to the tune of $656.4 million, now heads to Springfield City Council for final approval, according to a news release. Council's first reading is scheduled Sept. 6, with the second on Sept. 19.

Reprojected total disbursements for fiscal 2022 are $699.4 million, according to a CU budget document published late last month. That means expected disbursements in fiscal 2023, starting Oct. 1, are down by 6.1%.

"The proposed budget outlines project expenditures necessary to responsibly serve our customers, and it establishes the approval of the budget and disbursement authority as required by the city charter," CU CEO Gary Gibson said in the introductory letter in the budget document. "On behalf of our management team and all the employees of City Utilities responsible for producing the 2023 operating budget, we would like to thank you for your support of this final part of our annual planning effort."

Disbursements include fuel, capital projects and noncapital operational expenses, according to the release.