AlexRenew Adopts Updated Budget to Reflect COVID-19 Impact
Company continues mission to provide cleaner waterways
ALEXANDRIA, VA – Alexandria Renew Enterprises (AlexRenew) approved an updated Fiscal Year 2021 budget on June 16, 2020, that acknowledges the impacts that the COVID-19 pandemic has had on those it serves and the regional community.
The updated Fiscal Year 2021 budget will allow AlexRenew to continue essential operations to clean wastewater. The company will also fulfill its commitment to complete RiverRenew, a state-mandated program to address Alexandria’s sewer pollution, by the 2025 deadline. The FY21 budget includes reductions in operational expenses, deferral of capital projects, and a reduction in the previously-approved rate increase of 11 percent to 6.6 percent.
“We understand the impact COVID-19 has had on the lives of Alexandrians, and we have adapted to continue to serve our community 24/7/365 by keeping our community healthy through cleaner waterways,” says Karen Pallansch, AlexRenew CEO. “AlexRenew remains focused on fulfilling its vital mission to manage wastewater and improve the waterways that connect us.”
The rate increase is needed to support the RiverRenew construction program, parts of which are currently underway, and the bulk of which will be awarded this December. The reduced rate increase will be effective July 1, 2020. The average residential customer could see an average monthly bill increase of less than $3 per month with this approved increase.
AlexRenew and its Board analyzed a number of proposed budget solutions to continue essential operations and keep RiverRenew on track. The solutions to be implemented, as briefly mentioned above, include deferral of capital projects (with the exception of those currently underway and those needed to support RiverRenew). Other solutions include freezing performance pay increases for AlexRenew staff, implementing hiring freezes, and reducing discretionary operating funds where applicable.
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