Public Utilities board approves $701.7M CU budget

Total appropriations for 2008 are $701.7 million – that includes $479.2 million for normal operations and $222.5 million for work on the under-construction Southwest 2 plant.

Springfield City Council is expected to vote on the budget at its Sept. 24 meeting. CU’s fiscal year begins Oct. 1.

Also at its meeting, the board approved a $270,000 funds transfer from customer support to cover bad debt write-offs from the January ice storm.

CU earlier this year estimated the ice storm hit the utility with about $36 million in recovery costs. Federal Emergency Management Agency announced last week that it had approved $21.3 million, or 75 percent, in reimbursements of those costs.