HENRY COUNTY, Va. (Romero Report) — The Henry County Public Service Authority (PSA) approved its fiscal year (FY) 2024-2025 budget on May 20.

A news release said the budget maintains flat water and sewer rates for the eleventh consecutive year, with residential users continuing to pay $30 per month and non-residential users $45 per month, both based on 4,000 gallons per month.

Funds are included in the budget to study the potential need for future rate increases.

The overall budget is approximately $14 million, representing a five percent reduction from FY24, according to the release.

This reduction is attributed to fewer capital expenditures and reduced debt service following the completion of a loan repayment in FY24.

The budget also includes a three percent salary increase for all PSA employees effective July 1, as well as a merit-based step increase for many employees starting September 1.

While PSA employees already receive full health insurance coverage, the budget provides a 10 percent reduction in spouse and family coverage to alleviate financial burdens and improve employee recruitment and retention, the release said.

Additionally, the board accepted an annual report from the Lane Group regarding compliance with the organization’s 1991 Master Trust Agreement with Crestar Bank, which recommended no changes.

The board also reviewed and accepted monthly reports on finance, construction, engineering, safety, and treatment and regulatory compliance.

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