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September 23, 2013

GEUS board expected to approve budget

GREENVILLE — The GEUS board intends Thursday to approve the local electric utility system’s upcoming budget, which includes significant increases in both expenses and revenue.

The GEUS board of trustees also plans to again choose Hunt County Shared Ministries (FISH) to distribute funding to local residents needing assistance with paying their electric bills.

The board is scheduled to take action on both items during the regular session agenda, starting at  6 p.m. Thursday in the board room of the GEUS Operations Center, 6000 Joe Ramsey Boulevard.

The utility is planning on providing more power to more customers in the coming year, and is also anticipating having to pay for more for some of the power it buys. The utility’s total operating revenues are expected to increase by $8.7 million in the coming fiscal year. GEUS’ revenues would include $1.8 million in increases in sales due to load growth, and $2.6 million more from in off-system sales, should it be a typical Texas summer in 2014.

GEUS also is expected to take in $3.6 million more in the coming year, due to higher natural gas and purchased power costs.

But the utility also expects to see an increase of $7.2 million in its operating expenses in the next fiscal year, with $6.6 million of that coming from the rising costs of fuel and purchased power.

The GEUS board is also set to designate FISH as the utility’s low income fund distributor.

GEUS started the fund in the 2008 fiscal year to assist Greenville residents at or near the poverty level in purchasing electricity and has chosen FISH as the distributor for the funds each year.

For the 2013-2014 fiscal year, GEUS has budgeted $15,000 for the account and it is expected all of the funds will be dispersed.

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