April 21, 2014

MARTINSVILLE, Va. April 21, 2014 – The proposed fiscal 2015 Henry County Public Service Authority (PSA) budget includes no rate increase for customers.

PSA General Manager Tim Hall presented the proposed fiscal 2015 budget to the PSA Board of Directors on Monday.  Its totals $12,326,536, which includes $4,099,880 in capital projects and debt payments.  This compares with a fiscal 2014 budget of $12,063,969, which included $3,906,930 in capital projects and debt payments.

Residential rates are proposed to remain at $30 a month for a minimum of 4,000 gallons of water and $30 a month for sewer service, which is based on water use.

PSA employees will see no pay raises other than the state mandated 1% bump which employees must allocate to the Virginia Retirement System.  This actually results in less take-home pay for employees.  The budget projects an increase of 8% in health insurance costs.  To help mitigate future insurance costs, Hall recommended to the PSA Board that the PSA work with Henry County and the school system to become self-insured. 

The proposed budget includes $350,000 to start a major two-year initiative to upgrade meters and suggests new eligibility standards for the Senior Citizens Discount program.  Current customers enrolled in the discount program prior to July 1, 2014 can remain in the program at their current discount until they are no longer a customer at their currently location.  Additionally, only new customers with a verified disability will be eligible for the discount program.  The age of a new customer will no longer be a factor in receiving the discount. 

A work session on the PSA budget will be at 5:30 p.m. on April 28 in the fourth-floor conference room at the Henry County Administration Building. The PSA board will consider adopting the proposal on May 19.