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Water Utility_ Fund (continued) The capital items outlined on the notes are all items that were approved during the normal 1997 budgeting process. No additional items are being requested for 1997. Sewer Utility_ Fund It is estimated that total revenues for 1997 will be $381,246 which includes interest earnings of $20,000. These revenue projections also incorporate 5% rate increases that are being proposed at this meeting and would become effective January 1, 1997. Expenditures are estimated to be at $329,050 which includes depreciation (non-cash) of $149,954. This results in a budgeted operating profit of $52,196, which is a bit more than break even, and continues to decrease the deficit in retained earnings. As with the WAC charge in the Water Utility Fund, there was an "administrative fee" attached to the mandatory MCES SAC charge during 1993. These monies are restricted for future expansion and modifications to the system The items outlined in the notes as CIP expenditures will be funded primarily from the SAC Handling charges The capital items outlined on the notes are all items that were approved during the normal 1997 budgeting process. No additional items are being requested for 1997. 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. 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 fired will be the addition of subdivision street lighting that has been petitioned for and installed. These revenues were incorporated into this budget utilizing the $13.65 per quarter that was established through the feasibility study. 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.