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Street Light Utility 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. During 1997 the City Council approved the installation of additional priority. The amount incorporated into this budget is based on $4.80 per year for each residential property. The associated costs include the cost of operation and maintenance as well as depreciation. It is anticipated that total revenues for 2001 will be approximately $87,022 which includes interest earnings of $4,500. Expenditures are estimated to be at $61,590 which includes depreciation (non-cash) of $13,740. Recycling Utility Fund With the closure of 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. It is anticipated that total revenues will be approximately $160,605 and include County grants of $31,000 and estimated interest earnings of $500. These revenue projections also incorporate rate increase from $4.98/quarter to $5.34/quarter that were adopted on December 14, 1999 and charged to residents for the periods of 2000 and 2001. Expenditures are estimated to be $153,200 and include the costs to administer the curb side recycling program and two clean-up days during 2001. This activity , as proposed results in an increase in retained earnings of $7,405. Also attached to this case is a resolution amending the 2000 activity. This is primarily a "housekeeping" item and is done on an annual basis. The projections through the end of the year are based on actual activity. Storm Water Utility Fund It is estimated that total revenues for 2001 will be $336,000 which includes interest earnings of $2,000. This Fund was created in 2000 to maintain drainage problems throughout the City. Expenditures are estimated to be at $324,970 which includes depreciation (non-cash) of $183,615. This results in a budgeted operating profit of $11,030. It must be noted that this budget represents "operating" expenditures only. The total costs of the storm utility projects are capitalized and expensed yearly under the depreciation line item.