BUDGET BILLING FAQ
If a customer has ever had their budget busted by a larger-than-normal utility bill or just want to pay a set amount to plan their monthly finances, then Budget Billing is the way to go.
WHAT IS BUDGET BILLING?
Budget Billing is a calculated amount due each month for all of the customer’s utilities on their bill (electric, water, wastewater, and sanitation), to give the customer a set amount to pay until the next recalculate month.
WHAT ARE THE REQUIREMENTS TO BE ELIGIBLE?
There are 2 requirements for an account to be eligible for Budget Billing:
- A customer has to be at the account location for a minimum of 12 months.
- A customer must have a Normal, Good, or Excellent credit history on their account.
HOW IS MY BUDGET AMOUNT CALCULATED?
An average of the previous 12-months is calculated and will be the amount due until the next recalculation month. There are 2 recalculation months and one catch-up month.
WHAT ARE RECALCULATION MONTHS AND WHEN DOES IT OCCUR?
During the recalculation month, a new amount will be determined by taking a 12-month average and multiplying the current rates. This amount will be your budget amount until the next recalculation month. An account will recalculate twice a year to ensure the most accurate amount is paid. The recalculation months are April and October.
WHEN WILL MY BILL CATCH UP?
Every April, the account will go through a “Catch-Up” process. This process will take the actual amount used and compare it to the actual amount paid. The calculated amount will then be applied to the customer account.
WHAT IF THE AMOUNT APPLIED IS A CREDIT?
The calculated amount will be applied to the account and will be used toward future amounts due. Each month the bill amount will be deducted from the balance. All credit will remain on the account until it has been used.
WHAT IF THE AMOUNT APPLIED IS A CREDIT?
The calculated amount will be applied to the account balance to be paid.
To sign up for Budget Billing, please contact our Customer Support Representatives at 731-642-1322