Working to help keep local businesses afloat in today’s floundering economic seas while avoiding sinking the city’s own financial ship is a daunting task facing the Owensville Board of Aldermen.

At issue here are utility rates, more specifically, electric utility rates with demand charges that are, and have been for years, battering holes in the hulls of many local businesses. To their credit, aldermen are sincerely working on the problem and may even be able to scrap demand charges altogether by next July when the city’s fiscal year 2009-2010 starts.

With all the good intentions in the world, relieving businesses of the profit-killing demand rate has to be done without jeopardizing the financial tightrope the city is walking. Revenue derived by providing utility service, including the demand rate no matter how unfair it may appear, is vital to the city’s own economic stability.

With retail sales falling in this uncertain economy, something has to be done to help local businesses keep prices as low as feasible and still ensure a reasonable profit. If sales continue to fall, so will the sales tax revenue that is the main source of income for the city. Chances are that if businesses are forced to raise prices just to stay afloat, consumers, who are cutting back now, will cut back on purchases even more.

There are no easy answers, no ready solution, and whatever decision is made likely will not make everyone happy. But at least this Board of Aldermen recognize the problem and are taking steps, although small ones, to reach some kind of accord that helps businesses without sinking the city’s financial flagship.

We wish aldermen well and encourage businesses to be patient.