Agenda - Council - 12/10/1996 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I Street Light Utili _fy Fund (continued) As with the Water and Sewer Utility Funds, the revenue projections for 1997 are based on 120 additions to tho system for subdivision lights. It is anticipated that total revenues for 1997 will be approximately $45,655 which includes interest earnings of $4,500. Expenditures are estimated to be ~at $29,836 which includes depreciation (non-cash) of $7,856 Recycling Utility_ Fund With the closure of the landfill in I993, the primary funding source for the curb side recycling program was 1°st. A rate of $3.05 per quarter was adopted at the August 22, 1994 Council meeting, with afl effective date beginning with the f'rrst quarter of 1995. Additions to ~e system have been estimated to be 120, so as to be comparable to all other projections for ~ervices that depend on household additions in the City. It is anticipated that total revenues will b[e approximately $106,095 and include County grants of $38,441 and estimated interest eamingo of $3,000. Expenditures are estimated to be $102,476 and include the costs to administer the omb side recycling program and two clean-up days during 1997. This activity, as proposed resulta in an increase in retained earnings of $3,619. Staff RecommOndations: Staff recommends approval of Resolution #96-12-XXX Adopting the 1997 Enterprise Fund Budgets. Committee Action: ~t~/~ Motion to reco ~mmend City Council adoption of Resolution #96-12-XXX Adopting the 1997 Enterprise Fund!Budgets. Reviewed By: City Administrator Finance Officer City Engineer Economic Devek~pment Coordinator Parks/Utilities SUpervisor FC: 12/10/96-