Woodville sees slump in natural gas revenues

Published 12:00 am Tuesday, March 9, 2004

WOODVILLE &045;&045; Reports of weak profits for the second straight year from natural gas sales have prompted Woodville officials to begin seeking ways to address the problem.

Woodville aldermen heard the news Tuesday from Wes Gore of the Natchez-based accounting firm Silas M. Simmons, LLC. Gore delivered the town’s 2003 fiscal year audit report.

Gore said the town’s net income from gas sales was down $111,100 from the 2002 fiscal year &045;&045; largely because the town’s gas rates do not account for price spikes during high demand.

Email newsletter signup

&uot;During the winter when gas prices go up you’re paying more, but yet your rates don’t fluctuate,&uot; Gore said.

Woodville Mayor Gary D’Aquila said he would soon meet with the town’s gas consultant to discuss the possibility of setting up a rate schedule that will automatically adjust for changes in gas prices.

D’Aquila said the town was also unable to sell some of its gas during the 2003 fiscal year due to leaks incurred during road construction on U. S. 61.

The town also lost $20,000 on its garbage collection service last year, Gore said.

Aldermen said they will consider a garbage rate increase at their regular meeting in April.

Overall, the town’s expenditures exceeded revenues by about $150,000 in each of the past two fiscal years, Gore said.

Gore said said his report was issued as a qualified opinion due to the town’s lack of adequate fixed asset records.

In other business, the board accepted the low bid of $2,300 per month from Woodville resident Tom Christmas for maintenance of the town’s three cemeteries.

The board also asked town attorney David Wilkerson to seek estimates on the cost of a survey and environmental study in connection with the construction of a proposed multi-purpose center.

Board members agreed to table further discussion of the project until next month.