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

Home

I I I I I I I I I I I Street Light Utili~ Fund (continued) During 1995 the City Council approved the installation of a number of A and B priority lights with the underlying intent of billing residential properties directly for that cost. The amount incorporated into this budget is based on $2.00 per year for each residential property. The associated costs include the cost of operation and maintenance as well as depreciation. As with the Water and Sewer Utility Funds, the revenue projections for 1995 are based on 180 additions to the system for subdivision lights. It is anticipated that total revenues for 1996 will be approximately ~48,880 which includes interest earnings of $3,500. Expenditures are estimated to be at $g8,300 which includes depreciation (non-cash) of $4,800 Recycling Utility_ l~,_und With the closure og 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. Additions to the system have been estimated to be 180, 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 $99,800 and include County grants of $35,000 and estimated interest earnings ofi$3,000. Expenditures are estimated to be $105,709 and include the costs to administer the cur~ side recycling program and two clean-up days during 1996 as well as the purchase of 500 a{tditional recycling bins. This activity , as proposed results in a retained earnings deficit of $11,635. Staff Recommendations: Staff recommends !approval of. Resolution #95-12-XXX Adopting the 1996 Enterprise Fund Budgets. Council Action: Motion to adopt Re3olution #95-12-XXX Adopting the 1996 Enterprise Fund Budgets. Reviewed By: City Administrator Finance Officer City Engineer Parks/Utilities Supervisor CC: 12/12/95