FPUA adopts $175M FY2027 budget; board approves amendments to FY2026

The Fort Pierce Utilities Authority board adopted the FY2027 budget on Aug. 4, approving a plan that budgets about $175,000,000 in gross revenues for FY27, a capital program of roughly $69,000,000 for the year, and updates to FY2026.

Finance staff presented the budget development process and said the numbers presented to the board matched the July workshop. Highlights included an estimated $175,000,000 in gross revenues for FY27 (electric about $87 million; wastewater about $42 million; water about $35 million), a grants budget of $15,100,000 earmarked for conveyance, resiliency and other projects, and a capital budget of about $69,000,000 for FY27. Staff also said the DART program and a rate stabilization fund are helping smooth adjustments to rates.

The budget package includes an anticipated rate adjustment aligned with the PSC index (2.46%) effective March 1, 2027, an operations and maintenance (O&M) budget of about $152,000,000 and built‑in future debt service assumptions. Staff told the board that many grants (more than $100,000,000 awarded to date across projects) have reduced the immediate need for additional borrowing.

The clerk read Resolution UA 2026‑18 (adopting the FY2027 budget and amending FY2026). A board member moved approval; the motion was seconded and the resolution passed on a roll‑call vote. Staff said they will present the approved budget to the city commission the following Monday.