Thursday, June 28, 2012
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ALBANY While the revenues for the Albany Water, Gas & Light Commission ticked upward for May, the utility is struggling to play catch-up thanks to a lukewarm winter, officials told board members Thursday.
WG&L has collected $1.4 million in revenues which is down nearly $2.9 million from the $4.3 million that was budgeted, Finance Director John Vansant III said.
Vansant told WG&L Board members that the utility’s light department had generated around $1.9 million, a figure that was $1.8 million worse than what had been budgeted for that department.
The water department is currently $45,000 behind what was budgeted, while the gas department was nearly $1 million short of what it was expected to generate in revenues.
Despite the year-to-date figures, Vansant said that every department appeared to have done better for the month of May than was anticipated.
“We’ve just had such mild temperatures that people didn’t use a lot of electricity or gas,” Vansant said after the meeting.
Exacerbating the problem for WG&L is a massive increase in the charge levied by the Municipal Electric Authority of Georgia — one paid by WG&L Thursday to the tune of more than $5 million.
WG&L’s revenue issues are putting a toll on the utility’s bottom line. Heading into July, the agency has less than $5 million in reserves — an amount considered low for an organization with a $125 million budget.