The board delved into the electric budget, which remains a focus in their strategic planning. A balanced budget was presented, emphasizing the allocation of approximately $50 million of the $80 million budget towards wholesale expenses. Discussion highlighted the “three-legged stool” approach to capital improvements, categorizing projects into repairs, growth-driven upgrades, and system enhancements. These efforts aim to bolster the resilience of the electric system by ensuring the integrity of poles and wires and minimizing outage times through enhanced circuitry and switches. Despite budget constraints, historical spending on capital improvements has ranged from $5 million to $12 million annually.

The board addressed the need for personnel reclassifications and additional hiring within the electric department. Current staff performing duties beyond their pay grade were recognized, with discussions around pay adjustments to reflect their contributions. The department aims to hire two groundmen and a meter technician to manage workload effectively. The aging workforce of linemen was a concern, with potential retirements posing risks to operational continuity.

Capital budget considerations were significant, with initial requests at $7.1 million being reduced to $4.9 million. This cutback led to the postponement of two major projects: a new dedicated circuit from the East Substation, intended to improve service reliability, and the development of the West Substation, aimed at meeting increased demand. These projects, while deemed desirable, were not considered essential under current financial restraints.

There was also a focus on financial aspects, particularly federal and state reimbursements for hurricane expenses. Approximately $78,224 had been received, but $750,000 remained outstanding. The reimbursement process was criticized for its slow pace, as funds must transition from the federal to the state level before reaching the city.

Discussions on competitive pricing revealed that Leesburg Electric has recently offered rates lower than FPL. The board recognized the importance of this competitive edge while expressing caution about increasing rates amidst current economic conditions, fuel cost adjustments, and taxes. Wholesale energy costs have risen to $84.19 per megawatt, up from $76.44 in 2017, but the overall debt of $34.5 million remains manageable. Growth patterns in regions like Futland Park were discussed, with optimism about their positive impact on the electric fund.

The advisory board also touched on upcoming changes, including resignations that left vacancies needing to be filled. The process for seeking new representation was underway, with applications being processed for future commission meetings.