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Street Light Utility_ Fund <br /> <br />The Street Light Utility Fund was established late in 1992 and meant to account for billings to <br />property owners and payment of electrical service charges for subdivision street lights that are <br />required in all new urban subdivisions. A pre-established rate of $8.25 per quarter was set in <br />conjunction with the developers paying for the first three years of operation and maintenance. <br /> <br />During 1997 the City Council approved the installation of additional priority. The amount <br />incorporated into this budget is based on $4.80 per year for each residential property. The <br />associated costs include the cost of operation and maintenance as well as depreciation. <br /> <br />It is anticipated that total revenues for 2000 will be approximately $87,875 which includes <br />interest earnings of $3,800. Expenditures are estimated to be at $51,442 which includes <br />depreciation (non-cash) of $8,900. <br /> <br />Recycline Utili~ Fund <br /> <br />With the closure of the landfill in 1993, 'ihe primary funding source for the curb side recycling <br />program was lost. A rate of $3.05 per quarter was adopted at the August 22, 1994 Council <br />meeting, with an effective date beginning with the first quarter of 1995. <br /> <br />It is anticipated that total revenues will be approximately $171,517 and include County grants of <br />$40,000 and estimated interest earnings of $200. These revenue projections also incorporate rate <br />increase from $4.98/quarter to $5.34/quarter that were adopted on December 14, 1999, and <br />would become effective January 1, 2000. Expenditures are estimated to be $149,697 and include <br />the costs to administer the curb side recycling program and two clean-up days during 2000. This <br />activity, as proposed results in an increase in retained earnings of $21,820. <br /> <br />Also attached to this case is a resolution amending the 1999 activity. This is primarily a <br />"housekeeping" item and is done on an annual basis. The projections through the end of the <br />year are based on actual activity. <br /> <br />Staff Recommendation: <br /> <br />Approve attached Resolution #00-01--XXX Adopting the 2000 Enterprise Fund Budgets, <br /> <br />and <br /> <br />Approve attached Resolution #00-01-XXX Amending the 1999 Enterprise Fund Budgets, <br /> <br />Commission Action: <br /> <br />Motion to recommend Council adopt Resolution #00-01-XXX Adopting the 2000 Enterprise <br />Fund Budgets, <br /> <br /> <br />