The discussion over the $8 million electric utility surplus over the last few months has seen city commissioners and staff defending the need to deposit the “found” money in the electric reserve which already had approximately $95 million. Rationale for keeping the money has ranged from “its policy” to “its only $34 per residential customer”. […]
The debate about the COT electric utilities reserves is beginning to provide answers, though questions remain. Last Wednesday the COT brought in consultants to provide more information about the appropriate level of the electric reserve. City staff is seeking a reserve level between $119 million and $185 million. The reserve is currently at $105 million. […]
Our recent report on the wealth of the City of Tallahassee electric utility published on January 19, 2011 generated a response from the City of Tallahassee. On Friday, Tallahassee Reports received an email from the City that indicated the report was one sided and should have included a different calculation. The initial report compared the […]
The recent debate on the fate of the $8 million electric utility surplus for 2010 has morphed into a discussion about the proper level of the electric utility reserves. City staff has reported that the current level of the reserve is approximately $100 million, with a staff proposed range of between $119 million and $185 […]
A public records request by Tallahassee Reports indicates that Tallahassee City Commissioners did not have much time to consider options with respect to the $8 million electric utility surplus before their vote on December 8, 2010.
Tallahassee Reports has reached out to a number of elected leaders over the last couple of days to get their reaction to the City Commission’s vote to keep the $8 million year end surplus generated by the electric utility.
Tallahassee Reports has written about the $172 million in reserve funds the City of Tallahassee has tucked away. Part of the $172 million includes approximately $95 million in a “rate stabilization fund.” During an informative discussion with Assistant City Manager Raoul Lavin, he detailed the parameters regulating the use of the rate stabilization fund. The uses […]
With the Tallahassee City Commission taking a serious look at raising taxes and cutting services, Tallahassee Reports – and a number of other interested citizens – have begun to dig into the proposed 2010 budget. Tallahassee Reports has focused its analysis on the City’s “Reserve Accounts.” The City has reserve accounts for the General Fund, Electric Fund, […]