Water, Gas and Light price increase makes difference
Thursday's Water, Gas and Light board meeting was short and sweet, lasting only 30 minutes. The meeting was kicked off by celebrating the commission's 100 years of service.
The director of fiscal affairs for the commission, John Vansant, said hitting the centennial mark wasn't the only thing to be happy about, "We had a very good month in May, we haven't had many in this fiscal year of 2012, so we are happy that we kind of rode the ship."
For the first time this fiscal year every department performed better than their budget.
The recent 10% percent increase to electric seemed to have worked as that department finished $500,000 better then budget.
That being said, the commissions reserve fund is dangerously low, which Albany Mayor, Dorothy Hubbard, said is a problem, "Let's say a gas line is broken; well we have to have funds available to immediately repair that. We cannot let, you know, gas spew in the air and that kind of thing."
With the reserve fund being dependent on the department's budget, there is no way to predict when the funds will get back to an acceptable level.
The good news, if we continue to see months like May, the commission said there shouldn't be anymore price increases, and they still will be able to start building back up the reserve fund.