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Street Liehtin~ Utility Fund The Street Lighag Utility Fund was established late in 1992 and meant to account for billings to property owners llnd payment of electrical service charges for sub-division lights that are required in all new urban ~ub-divisions. A pm-established rate of $8.25 per quarter was set in conjunction with the develol~rs paying for the first three years of operation and maintenance. The rate therefore will r4main the same until all amortization of the developer paid operation and maintenance moflies are exhausted. At that point the cost of providing the service may be charged in full to the resi ,d~nts receiving the benefits. As with the Water and Sewer Utility Funds, the revenue projections for 1994 are based on 252 additions to the ~ystem. The projected revenues for 1994 are $21,798 which includes interest earnings of $3,0{)0. Expenditures, which consist of a pro-rata share of the AEC agreement, electric costs, sys~m depreciation and an administrative transfer are estimated to be $12,175. This results in an ope~ting profit of $9,623. Any capita aflditipns to the system for 1994 will be done by developer contribution as required in the actual develoL~nent agreements for each subdivision. Staff Recommendations: Staff recommen~ approval of Resolution g94-03-XX approving an increase in the rate charged for water permit saleffrom $1.10 per 1000 gallons to $2.20 per 10(g) gallons, and Staff recommen~s approval of Resolution g94-03-XX Adopting the 1994 Budgets for the Enterprise Funds.f: Committee Action: Recommend Couhcil adoption of Resolution g94-03-XX Approving an Increase in Water Permit Sales Rate and Recommend cotmcil adoption of Resolution g94-03-XX Adopting the 1994 Budgets for the Enterprise Funds.: Reviewed By: City Administrator Finance Officer ~ City Engineer .~ Parks/Utilities Su[~ervisor FC: 03/22/94~