The Leitchfield Utilities Commission reviewed its Fiscal Year 2019-2020 budget and amended Fiscal Year 2018-2019 budget Thursday afternoon.

Meeting in regular session on Thursday, the commission heard both ordinances read by Leitchfield Finance Officer Kim Sowders.

The proposed FY 2019-2020 budget ordinance projects Leitchfield Utilities will earn $14,722,350 in revenue and have $15,319,740 in expenditures for a net loss for the year of $597,390. However, with funds carried forward from the previous year, the utilities are expected to end the year with a cash balance of $11,524,389.

The amended FY 2018-2019 budget ordinance amends Leitchfield Utilities' revenues from $8,421,800 to $7,084,765 and expenditures from $8,958,390 to $7,630,790 for a net loss for the year of $546,025, up from the projected net loss of $536,590. However, with funds carried forward from the previous year, the utilities will end the year with a cash balance of $10,926,779, which is amended from $11,322,063.

Following Sowders' readings of the two budgets, the utilities commission voted to approve them.

Leitchfield Utilities' budgets will be included in the city's overall proposed FY 2019-2020 and amended FY 2018-2019 budget ordinances, and the first readings of both of these will be held on Monday, June 17. A special called meeting has been scheduled for Monday, June 24 to hold the second and final readings of the ordinances.