Councilmember Donelson asked if there has not an increase in the
electric service rate since 2018. Mr. Gearhart confirmed that is correct.
Councilmember O’Malley stated if everything in the geopolitical realm
stayed the same, what would they be looking at. Mr. Gearhart stated
looking at the full bill which includes base rates, fuel rates, geopolitical
forces, weather conditions domestically and locally which can all play
factors in natural gas prices, He stated there are current market
conditions and what we typically see through a winter which is gas
prices increase through the winter and cold climates because supply of
natural gas goes down.
Mr. Bidlack polled City Council regarding the issues for decision for the
setting of natural gas service, electric service, water service, and
wastewater service rates. Please see attached documents for additional
details on City Council’s direction for the proposed terms and conditions.
Ordinance No. 23-59 identifying and approving the Colorado Springs
Utilities’ Annual Sources of Funds for the Year Ending December 31,
2024
9.D.
Presenter:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado
Springs Utilities
Travas Deal, Chief Executive Officer, Colorado Springs Utilities
Attachments:
Tristan Gearhart, Chief Planning and Finance Officer, Colorado Springs
Utilities (CSU), presented the Ordinance identifying and approving the
CSU annual sources of funds for the year ending December 31, 2024
and the Ordinance approving the annual budget for CSU and
appropriating monies for the several purposes named in the CSU annual
budget for the year ending December 31, 2024. He stated the budget is
approximately $1.5B which is a 3.7 percent decrease from the 2023
budget largely due to fuel costs. Mr. Gearhart gave an overview of the
proposed 2024 budget, funding 2024 appropriation, and next steps.
Motion by Councilmember Henjum, seconded by Councilmember Leinweber, that
the Ordinance identifying and approving the Colorado Springs Utilities’ Annual
Sources of Funds for the Year Ending December 31, 2024 be approved on first
reading. The motion passed by a vote of 9-0-0-0
9 - Avila, Crow-Iverson, Donelson, Helms, Henjum, Leinweber, O'Malley, Risley, and
Talarico
Aye:
Ordinance No. 23-60 Approving the Annual Budget for Colorado
Springs Utilities and Appropriating Monies for the Several Purposes
Named in the Colorado Springs Utilities’ Annual Budget for the Year
9.E.