Agenda - Council - 12/09/1997 - Laserfiche WebLink

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I I I I I I I I I '1 I I i '1 I I I I I Recycling Utility_ Fund With the closure of the landfill in 1993, the primary funding source for the curb side recycling program was lost, A rate of $3.05 per quarter was adopted at the August 22, 1994 Council meeting, with an effective date beginning with the first quarter of 1995. This rate has not been increased since but with the recent negotiation of the recycling contract and enhanced services, it will be necessary to increase the rates accordingly. Additions to the system have been estimated to be 100, so as to be comparable to all other projections for services that depend on household additions in the City. It is anticipated that total revenues will be approximately $130,044 and include County grants of $40,000 and estimated interest earnings of $700. These revenue projections also incorporate rate increase from $3.05/quarter to $4.00/quarter that are being proposed at this meeting and would become effective January t, 1998 Expenditures are estimated to be $121,789 and include the costs to administer the curb side recycling program and two clean-up days during 1998. This activity, as proposed results in an increase in retained earnings of $8,255. Also attached to this case is a resolution amending the 1997 activity. This is primarily a "housekeeping" itme and is done on an annual basis. The projections through the end of the year are based on actual activity. Staff Recommendation: Approve attached Resolution #97-12-XXX Adopting the 1998 Enterprise Fund Budgets, and Approve attached Resolution #97-12-XXX Amending the 1997 Enterprise Fund Budgets, Council Action: Motion to adopt Resolution #97-12-XXX Adopting the 1998 Enterprise Fund Budgets, Motion to adopt Resolution #97-12-XXX Amending the 1997 Enterprise Fund Budgets, Reviewed By: Acting City Administrator Finance Officer City Engineer Parks/Utilities Supervisor CC: 12/09/97