The Budget Committee of the city's Water, Gas & Light Commission was updated on the latest draft of WG&L's Fiscal Year 2014 budget during a called meeting Monday morning.

The budget, which may be approved by the utility's board as soon as its May 30 meeting, calls for $127,571,427 in revenues, a 3.78 percent increase from WG&L's current $123 million budget.

"I think it's important to note that this is only a draft; our budget will go through a number of changes before we offer it up for approval," utility Finance Director John Vansant said. "That's the nature of utilities. You're dealing in best estimates, not absolutes. No one's found a way to control the weather."

Vansant told the Finance Committee the new budget has relatively modest increases in targeted gross profits that would only significantly impact ratepayers if the utility fails to reach those figures.

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