MEAG credits being used as Cash - WALB.com, Albany News, Weather, Sports

MEAG credits being used as Cash

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By Karen Cohilas - bio | email

ALBANY, GA (WALB) - Water, Gas, and Light planned to put millions of dollars in MEAG credits into a savings account. Instead, the money is being used for daily operations.

WG&L and the city of Albany split those credits into thirds. One for the utility, one for the city and another goes into a long-term financial planning account. Originally, WG&L planned to save its $3 Million a year share, but the economy has taken its toll and that money is being used to balance the budget.

John Vansant said, "We've done some significant cutting as far as buying equipment and things like that. We've also canceled the raises, so we hope not to have to cut further because then you're talking about things like furloughs and layoffs and that sort of thing is the next step, is the next logical step."

Water, Gas and Light hopes to save more than half of what it will bring in from the credits, about $1.7 Million, during this fiscal year.

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