CU to hold public hearing on 2015 budget

The Board of Public Utilities, the governing body of City Utilities of Springfield, is scheduled to host a public hearing tomorrow on its proposed 2015 operating budget for the public utility company.

The proposed budget includes total receipts of $537.9 million, a $21.3 million decrease compared to the 2014 reprojected budget of $559.4 million. Expenditures for fiscal 2015 are projected at $565.6 million, up from $551.8 million in reprojected 2014 expenditures, according to the proposed budget document on CityUtilities.net.

The board forecasts net income for fiscal 2015 of $34.8 million, higher than reprojected 2014 earnings of $27.5 million and actual 2013 profits of $14.1 million.

The public hearing is scheduled for 5:30 p.m. tomorrow at CU's training center classroom, 301 E. Central St.

CU spokesman Joel Alexander said the budget would be approved by the board during its Aug. 21 meeting and go before Springfield City Council during its September meetings. CU's fiscal year starts Oct. 1.