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Agenda Section: 9.8 <br /> °imps REQUEST FOR COUNCIL CONSIDERATION Report Number:91-132C <br /> Report Date: 12 19 91 <br /> f <br /> C�° STAFF REPORT Council Action: <br /> ❑ Special Order of Business <br /> CITY COUNCIL MEETING DATE December 23, 1991 ❑ Public Hearings <br /> 0 Consent Agenda <br /> IX Council Business <br /> Item Description: Establishing the Street Light Utility <br /> Administrator's Review/Recommendation: <br /> - No comments to supplement this report <br /> - Comments attached. <br /> Explanation/Summary (attach supplement sheets as necessary.) <br /> )SUMMARY; <br /> Ordinance No. 497 established the City's street light utility program. My understanding from listening to <br /> discussions of the utility is that it was Council's intent that a separate fund be set up to account for the activities <br /> of the utility that would be similar to the water and sewer utility funds. I have attached a resolution for your <br /> consideration which establishes a Street Light Utility Fund. The resolution provides that all revenues and <br /> expenditures of the utility be accounted for in the fund, that an annual budget be prepared for the fund in the <br /> same manner as other budgeted City funds, and that an annual financial report be prepared for the fund in the <br /> same manner as other City funds. <br /> Should you have any questions do not hesitate to contact me. <br /> ���_ 1\7� 6 • ' <br /> Donald Brager,���— 'ltttFinance rili tor-Treasurer <br /> RECOMMENDATION; <br /> Adopt Resolution No. 415;7A Resolution Establishing a Street Light Utility Fund. <br />