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Budget & Funding

Local Power | Budget

Exploring the creation of a local electric utility represents a significant investment, and the city is committed to full transparency about funding and spending.

Expand the accordion menu below to find detailed responses to frequent questions related to this topic.

As of Sept. 30, 2020, the city had spent approximately $23.9 million on the municipalization project. 

  2012 2013 2014 2015 2016 2017 2018 2019 2020 TOTALS
Personnel $239,572 $651,550 $581,881 $834,387 $1,046,583 $1,007,139 $937,785 $878,763 $665,454

$6,843,114

Operating $794,037 $1,861,065 $1,341,178 $1,321,813 $1,340,181 $2,229,995 $1,915,827 $4,316,645 $1,410,727

$16,531,468

Annual Total $1,033,610 $2,512,615 $1,923,059 $2,156,199 $2,386,764 $3,237,094 $2,853,612 $5,195,408 $2,076,181 $23,899,611

 

Funding for Boulder's Energy Future comes from a portion of the  Utility Occupation Tax  (UOT). Voters approved this tax in 2011, and extended the tax in 2017. 

Year UOT Funding
2012 $1,900,000

2013

$1,900,000
2014 $1,957,000
2015 $2,015,710
2016 $2,015,710
2017 $2,015,710
2018 $6,076,181
2019 $5,076,181
2020 $2,076,181
2021 $2,076,181
2022 $2,076,181

The project has also received $1,445,221 in general fund dollars between 2013 and 2017. This will be repaid if the electric utility begins operations.

Yes. Between 2013 and 2017, the project recieved $1,445,221 in general fund dollars between 2013 and 2017.

Once the utility is up and running and begins collecting revenue, any allocations from the General Fund that have not been covered by subsequent Utility Occupation Tax dollars will be repaid. It is possible some General Fund dollars will remain unpaid if the city decides later that it will not create a local electric utility.

No. The city's Climate Action Plan (CAP) tax, renewed in November 2015, funds a set of aggressive programs and services designed to reduce local greenhouse gas emissions and mitigate climate change. While there is a connection between climate action and municipalization, this tax is not used for this purpose. 

The Local Power team provides quarterly budget updates to City Council. Read the Oct. 15, 2020 Information Packet. pdf


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Boulder, CO 80302

303-441-3274

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