After slashing its budget and laying off 23% of its employees, Alabama’s largest water utility reports slight savings so far this year with more significant financial results expected in the coming months.
Officials at Central Alabama Water recently presented the utility’s latest financial figures, touting an improved credit rating and financial outlook.
Chief Financial Officer Lester Smith, during a financial update to the water board May 12 meeting, said the utility has taken in $51.2 million in revenue, which is a 7% drop from the budgeted $54.9 million…