Cape Fear Public Utility Authority approves 2024 fiscal budget

The budget does include a rate increase but there is some good news for customers. 

WILMINGTON, NC (WWAY) –The Cape Fear Public Utility Authority approved its fiscal year 2024 budget on Wednesday, June 14th.

The budget does include a rate increase but there is some good news for customers.

The average monthly bill will increase by $3.19. That’s a 4.6% jump. The good news is that is lower than CFPUA anticipated as the original increase was expected to be 8.5%.

This year’s budget is around $113 million dollars, an increase of nearly 14% from last year’s budget.

Executive director Kenneth Waldroup says the rate increase will help fund a major project.

“The single largest investment will be the Southside Wastewater Treatment Plant,” Waldroup said. “It’s a $249 million project and 75 % of that cost is just to replace the plant as is.”

The plant is 51 years old and nearing the end of its operational lifecycle. The project will fully replace the plant and increase its capacity to 16 million gallons treated per day, up from the existing plant’s 12 million gallons per day.

The project is expected to start in late 2024 or early 2025 with completion expected before 2030.