The future won’t look at all like the past, it turns out.
In the past, municipalities of all sizes in Pennsylvania used grant funding to finance infrastructure and capital improvement projects. Reserve funds were purposely kept small or nonexistent to best position your agency for funding.
Nowadays, grant funding has all but disappeared. Rather than looking for government bequests to finance projects, municipal authorities need to pursue financial viability in new ways.
Identifying new sources of revenue has proven successful for municipal authorities in PA. Some have begun accepting new waste sources – saving other companies money while increasing income. Others have used their processes to create renewable energy that can be reused or sold. Still others have made infrastructure investments such as battery systems to help store produced energy for future use.
The bottom line: Your agency can generate more income to keep your rates stable. This, in turn, keeps your customers happy. Capitalizing on unused capacity, delving into the growing renewables market, or forming local business partnerships can all play a part in keeping your operations strong and maintaining steady funding.
It’s a lot to consider, but RETTEW is here to help you. We have partnerships with internationally recognized companies for everything from funding to operations to equipment. We’re known for our regulatory expertise, business connections, and strategy development, which means you benefit from our consideration of long-term cost savings, sustainability, and sound financial planning.
Contact us today!