Agenda - Council - 12/12/1995 - Laserfiche WebLink

Home

Water Utili[y Fund (continued) It should also be noted that during 1992 the City incorporated the Water Access Charge (WAC) for future demand on the system for expansion and modification. The status of that restricted capital account at December 31, 1995 is projected to be $1,302,114 and is estimated to decrease to $586,089 during 1996. This derease is based on the net of 160 additions based on the rate increase that goes into effect on January 1, 1996, and the funding of several projects, including well #3 during 1996. The capital items outlined on the notes are all items that were approved during the normal 1996 budgeting process. No additional items are being requested for 1996. Sewer Utility. Fund It is estimated that total revenues for 1996 will be $266,100 which includes interest earnings of $9,500. These revenue projections incorporate the rate increases that were adopted Octoberr 24, 1995 and become effective January t, 1996 and utilize the 160 projected additions to the system. Expenditures are estimated to be at $253,639 which includes depreciation (non-cash) of $95,439. This results in a budgeted operating profit of $12,461, which is break even, and decreases the deficit in retained earnings to a projected $161,370 from $173,831. As with the WAC charge in the Water Utility Fund, there was an "administrative fee" attached to the mandatory MWCC SAC charge during 1993. These monies are restricted for future expansion and modifications to the system. The projected status of that restricted capital at December 31, 1995 is $76,176 and is estimated to increase to $96,726 during 1996. This increase is based on the 160 additions incorporating the rate increase that goes into effect on January 1, 1996. The capital items outlined on the notes are all items that were approved during the normal 1996 budgeting process. No additional items are being requested for 1996. Street Light Utili .ty Fund The Street Light Utility Fund was established late in 1992 and meant to account for billings to property owners and payment of electrical service charges for subdivision street lights that are required in all new urban subdivisions. A pm-established rate of $8.25 per quarter was set in conjunction with the developers paying for the first three years of operation and maintenance. The rate therefore will remain the same until all amortization of the developer paid operation and maintenance monies are exhausted. At that point the cost of providing the service may be charged in full to the residents receiving the benefits. Also incorporated into this fund will be the addition of subdivision street lighting that has been petitioned for and installed. These revenues were incorporated into this budget utilizing the $13.65 per quarter that was established through the feasibility study. I I ! I I I I ! ! I I I I I I I