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Alameda Municipal Power On Track to Lose Money

Alameda Municipal Power Office

Alameda Municipal Power revenue may not meet expenses next year. (File Photo)

Budget documents for Monday’s Public Utilities Board meeting suggest that Alameda Municipal Power will suffer a loss for the current fiscal year which ends June 30th, and that revenue may not meet expenses in the forthcoming 2015 fiscal year, which begins July 1.

A financial summary presentation that is part of the board meeting packet shows $58 million in expenses for the current year, and $53 million in revenue, for a roughly $5 million loss.

Projections for the 2015 fiscal year show $56 million in revenue and $62 million in expenses, for a $6 million loss.

The city-owned utility will deep into its reserves to help make ends meet next year, which will see an increase in spending on capital projects and equipment.

The board meets Monday, June 23rd, at 7:00 p.m. at the Alameda Municipal Power Service Center at 2000 Grand Street, at Clinton Avenue.

The meetings are open to the public.

1 comment to Alameda Municipal Power On Track to Lose Money

  • allikat7

    *dip

    I can’t attend the meeting but want to understand why there is such a big shortfall. Are they planning to spend too much on capital projects and equipment? Can they cut down or delay these items? Are we going to pay for this with rate increases? Hope there is a follow up article on this meeting.

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