O’FALLON – Mayoral Candidate Phil Goodwin continued his plans to give back to the citizens of O’Fallon by announcing plans to return a $3 million surplus in the City of O’Fallon’s Water Department to rate payers through a water rate reduction plan.
“I believe that your money should be kept in your wallet, not the government’s bank account,” said Goodwin. “The cornerstone of my administration as Mayor will be to ensure the City provides high quality essential services without asking more from our rate payers or property tax payers.”
Currently, the City Water Department has approximately $10 million in reserves, of which
$3 million is surplus funds. The City must maintain $7 million on reserve to ensure the City is able to make emergency repairs or needed operational improvements without borrowing funds.
“We are very blessed in O’Fallon to have a responsible financial management team and a highly trained professional staff who operates our Water Department, which has led to one of the best run departments around,” Goodwin stated.
“Because of their work, we have been able to deliver high quality water to our citizens and build a healthy reserve in order to be prepared for emergencies,” Goodwin said. “It is now time to give back to all water rate payers who have paid into creating this system by reducing surplus funds that are not necessary to be held by government.”
Goodwin stated that his plan would call for the first 1000 gallons of water each month to be provided for free to all rate payers until the $3 million surplus is paid down. That averages out to be approximately 33 gallons a day for free.
“This plan will allow every rate payer in O’Fallon to see a reduction in their monthly bill,” Goodwin said. “As Mayor, I will ask the City Council to approve this plan to provide an estimated reduction of $81 a year per household until the surplus is eliminated.”
“This plan returns money back to the homeowners and still keeps a healthy reserve for our City Water Department to remain in strong financial condition,” Goodwin said.
“People have asked me what will be different about a Goodwin Administration? My answer is simple – I will work to provide the best services and manage our City’s growth without asking more financially from our citizens.” Goodwin stated.
Goodwin stated that this water rate reduction plan is the second part of his “Save Now and Forever” financial management plan, which also calls on the City Council to approve his property tax relief plan to save homeowners 18% each year.
The plan, which was announced two weeks ago would dedicate 20% of all new sales tax revenue toward property tax relief each year as well as return $1 million annually over the next four years from the City’s surplus reserves in other areas besides the Water Department.
“I am the only candidate who believes we can continue to grow our city and provide relief to the residents of O’Fallon,” Goodwin said. “My opponent has no plan to reduce the burden on city residents.”
Learn more about Phil Goodwin’s 9 Point Prosperity Plan to keep the Torch of Progress burning in the city of O’Fallon at GoodwinForMayor.com.