Agenda Packets - 1993/09/13 - Laserfiche WebLink

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STAFF REPORT PAGE TWO SEPTEMBER 13, 1993 I know there has been concerns expressed in the community that there is a lack of understanding regarding the proposed projects and their impact on the City overall and, more specially, certain areas of the City. Hopefully, the concerns will be satisfactorily addressed at the meeting. The proposed ordinance is the "establishment" of the utility. If approved, the next step will be to adopt a resolution which formally sets the fee structure. That action could take place at a future meeting. Previous discussions regarding the anticipated expenditures of the surface water management have noted that street sweeping, catch basin cleaning, equipment repair and consulting engineering services would be included in the expenditures as these expenditures are currently be paid out of the existing storm water management fund. There has evidently been some confusion as to the City having two funds, one Storm Water and the other Surface Water. It is proposed that the current Storm Water Management Fund be renamed Surface Water Management Fund to be consistent with the Surface Water Management Plan. There will not be two separate funds. On December 31, 1992, the Storm Water Management Fund had a balance of $150,038 (as per the City's audited financial report). The 1993 budget for storm water management provides for a expenditures of $47, 031. As of August 31, 1993, the SWM budget has had expenditures totalling $16,199.44. Of the $47,031 budgeted for SWM for 1993, $8,000 is anticipated revenues of $3,500 in interest and $4,500 in connection charges. A total of $39,031 has been budgeted as a appropriation from the $150,038 balance in the SWM Fund. As of August 31, 1993, the SWM Fund had a balance of $134,444. Attached herein are the fund sheets from the 1993 budget. If the City were to continue to fund the afore mentioned activities from the existing SWM Fund, at the 1993 rate of revenues and expenditures, the Fund, as it is set up today, would be depleted in less than 5 years. The current SWM Fund does not provide for the completion of any projects.