The following provides a general overview of the funding available to the City.
City Capital Fund
Established in fiscal year 2019 as a way to prioritize the maintenance and improvement of our public infrastructure, facilities and equipment.
Drinking Water State Revolving Fund Loan Program
A low-interest loan program, administered cooperatively between the Oklahoma Water Resources Board (OWRB) and the Oklahoma Department of Environmental Quality (ODEQ), to assist communities with public water supply infrastructure construction projects.
Electric Rate Stabilization Fund
A portion of the revenues generated by the electric utility are transferred from the Stillwater Utilities Authority (SUA) Operating Fund to the Electric Rate Stabilization Fund each year to be used to fund capital projects of the electric utility. The Electric Rate Stabilization Fund was established in March 1988.
Federal grants are a form of financial assistance from a federal agency and are used to carry out a public purpose authorized by a law of the United States. Grants may be received directly from a federal granting agency or as a pass-through from a state agency and often require the local government to provide matching funds.
The General Fund is the primary operating fund of the City. All general tax revenues and other receipts not allocated by law or some other contractual agreement to other funds are accounted for in the General Fund. The principal sources of revenue for this fund include sales tax and franchise taxes, licenses and permits, fines and forfeitures, and fees.
Of the 4.0% sales tax received, 1.0% is transferred to the Stillwater Utilities Authority and 1.0% is transferred to the Transportation Sales Tax Fund. Expenditures from this fund include general administration, public safety, transportation, parks and recreation, library, and development services.
Property taxes finance General Obligation Bonds, which voters approve for specific capital projects. It is a common misconception that property taxes help pay for the City's core services.
Although this is true in many states, cities and towns in Oklahoma are not allowed to levy property taxes for day-to-day operations.
SUA Operating Fund
The electric utility is operated under the Stillwater Utilities Authority. Revenues generated to provide electric services to its customers are reinvested in the electric system. The principal source of revenue is the charge to customers for electric service which is comprised of two components: an electric customer service charge and an energy charge based on metered consumption.
Rates are also based on service type and may include demand charges and/or seasonal variations in the energy charge. Other electric revenues include service connection fees and power generation capacity and energy payments.
Transportation Sales Tax Fund
A 1.0% sales tax was approved by voters in 2001 and extended in 2006 and again in 2015 (set to expire on September 30, 2026) for the purpose of funding transportation improvements. The sales tax is collected by the Oklahoma Tax Commission and remitted to the City's General Fund in the month following receipt by the tax commission. The City immediately transfers the 1.0% tax to this fund upon receipt.
The wastewater utility is operated under the Stillwater Utilities Authority. All revenues generated to provide wastewater services to its customers are reinvested in the wastewater system.
The principal source of revenue is the charge to customers for wastewater service which is comprised of two components: a wastewater customer service charge based on the water meter size and a wastewater volumetric charge based on the water usage. Other wastewater revenues include capacity fees and new water closet fees.
The water utility is operated under the Stillwater Utilities Authority. All revenues generated to provide water services to its customers are reinvested in the water system. The principal source of revenue is the charge to customers for water service which is comprised of two components: a water customer service charge based on the meter size and a water volumetric charge based on metered consumption.
Other water revenues include capacity fees, charges for new water meters, and water tower rental income.