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Impact on Capital Projects Funds’ Cash Balances: <br />This presents the sources and uses and impacts to cash for the Capital Improvement Program on <br />the four capital projects funds for the five year period of this report, 2009 thru 2013. <br /> <br />Utility Rate Studies <br />Utility rate studies are included and there are mixed results. The street light rate can be <br />maintained at the current level. Future rate increases will depend on the cost of electricity which <br />shot up in 2007. The water and storm water rates should be considered for an increase in 2009. <br />The water rate should increase by a nickel in 2009, which will add about $4 a year to the average <br />bill based on 20,000 gallons per quarter. The storm water rate should be increased by $.75 per <br />quarter in 2009, which will add $3 a year to the average residential bill. Future increases will <br />need to be considered until the funds stabilize. The need for an increase is generated by <br />significant capital expenses during the 2008 to 2012 time period as noted in the CIP. The sanitary <br />sewer should be considered for an increase in 2010. <br /> <br />Five Year Financial Plan Adoption: <br />The Five Year Plan is a blueprint for future years and is only one possible scenario. It is intended <br />to be changed as priorities change and more current information becomes available. A public <br />hearing will be held June 23, 2008 for the second reading and adoption of ordinance 806. Staff <br />welcomes Council comments and direction on any desired changes. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Mark Beer <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />