Universal City Development News

City Council Discusses FY2027 Utility Budgets, Rate Increases, and $20 Million Bond Issuance

The City Council reviewed the proposed FY2027 budgets for water, sewer, and stormwater utilities. The utility fund anticipates $12,393,010 in revenue and $12,382,100 in expenditures, including $2.5 million for debt service. The stormwater fund anticipates $1,142,780 in revenue and $1,081,000 in expenditures. The council was also presented with a utility rate study for FY2027-2031, recommending a 2% rate increase for both water and wastewater services. This increase, combined with an estimated 89% rise in the EAA management fee, results in a projected total bill increase of approximately $5.41 per typical customer, or about 6% overall. The stormwater utility is not slated for a rate increase. A financing plan for the issuance of up to $20 million in waterworks and sewer system revenue bonds was also discussed, with the council providing direction to proceed with a 25-year repayment term.