Agenda - Council - 12/13/1994 - Laserfiche WebLink

Home

-/ Sewer Utility Fund It is estimated that total revenues for 1995 will be $223,530 which includes interest earnings of $9,500. These revenue projections incorporate the rate increases that were adopted November 22, 1994 and become effective Janu~y 1, 1995 and utilize the 180 projected additions to the system. Expenditures are estimated to be at $220,877 which inch. ides depreciation (non-cash) of $82,846. This results in a budgeted operating profit of $2,653, which is break even, and decreases the deficit in retained earnings to a projected $168,648 from $171,301. As with the WAC charge in the Water Utility Fund, there was an "administrative fee" attached to the mandatory 1MWCC 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, 1994 is $43,050 and is estimated to increase to $74,550 during 1995. This increase is based on the 180 additions as well and incorporating the rate increase that goes into effect on January 1, 1995. The capital items outlined on the notes are all items that were approved during the normal 1995 Street Light Utility F~md 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 pre-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. During 1994, street lights were petitioned for and installed in Pine Cove Addition. These revenues will be incorporated into this budget utilizing the $13.65 per quarter that was established through the feasibility study. As with the Water and Sewer Utility Funds, the revenue projections for 1995 are based on 180 additions to the system. It is anticipated that total revenues for 1995 will be approximately $30,631 which includes interest earnings of $3,500. Expenditures are estimated to be at $13,300 which includes depreciation (non-cash) of $2,500. This results in a budgeted operating income for 1995 of 17,331 and increases retained earnings to approximately $63,239. Recycling Ut-ilily Fllnd With the closure of the landfill in 1993, the primary funding source for the curb side recycling program was lost. Since that time we have reviewed and analyzed the alternatives to funding the program and it was determined that a direct charge to all residential properties, via the utility bill, was the appropriate method to fund the program. 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. During the process of setting the rate, the additions to the system had 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 $95,000 and include County grants of $35,000 and estimated interest earnings of $3,000. Expenditures are estimated to be $93,425 and include the costs to administer the curb side recycling program and two clean-up days during I995. This activity, as proposed results in a retained earnings balance of $1,575.