NEWS
Bowie ISD anticipates big revenue hit due to mineral values
Bowie Independent School District Trustees had their first look at 2016-17 preliminary budget figures where property values are expected to take nearly a $200 million hit due to the decline in mineral values.
During the district’s first budget workshop on Monday, Chief Financial Officer Jonathan Pastusek said he wanted to give the board “some idea of what they will be looking at” when they begin budget preparations.
For the second year in a row, the district has seen its mineral values drop significantly. Last year it was $80 million alone in Montague County, not including the small portions of the district that extend into Jack and Clay Counties.
The 2015-16 budget was adopted with a $927,069 deficit; however, administrators said the a budget surplus and an additional payment in state revenue would help float the district through the deficit. That may not be the case this year, although Pastusek anticipates a similar deficit for the new budget year.
Superintendent Steven Monkres said while all the figures are preliminary, he agrees a similar deficit is expected in the next school year.
Read the full story in the weekend News.
Concrete was poured on Nelson Street this week as the massive drainage project underway for almost nine months is getting near its end. Traffic will see a big relief once Nelson reopens, it was closed on Aug. 21, 2022 once a large section of the street on the north side collapsed following years of flooding and lack of drainage. (Courtesy photos Brent Shaw)
By BARBARA GREEN
[email protected]
Bowie City Councilors reluctantly approved an increase of .0111 cents in the city’s electric rates in an effort to recover the ongoing increases in wholesale power costs.
The increase will go into effect in the July 15 billing cycle and residential customers can expect an increase of just under $9 a month. The average residential use is 800 kilowatt hours a month and this new rate would add $8.88 to the monthly bill.
The power cost recovery factory has been in debate by the council since earlier in February when City Manager Bert Cunningham recommended the increase, but then council said no.
Bowie’s power rates are set up in two categories: Base rates and power cost recovery. Base rates, customer charges and energy charges are intended to recover costs to the utility related to operating an maintaining the system (profit).
The PCRF is the variable portion of wholesale power costs and changes as needed based on factors in the wholesale market, including, but not limited to increases or decreases in the cost of natural gas, the fuel that generates most of the electricity in Texas. The PCRF is intended to recover wholesale costs of resale power.
Read the full story in the weekend Bowie News.
City of Bowie crews were busy earlier this week making a repair on a 12-inch water line on Pecan and Cooper where a valve was not holding. (Bottom) This was the rusty metal section of pipe cut out and replaced to repair the line. (Courtesy photos)
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