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It is estimated that the City ill sell 37,500,000 cubic feet of sewer in 1999. Calculating the • <br /> tY g <br /> estimated 1999 sewer revenue (37,500,000 divided by 100 X $1.84) shows a total income of <br /> $690,000. <br /> Projected expenditures of $714,700 produces a deficit of ($24,700) and an increase is necessary <br /> to balance the operating budget. A rate increase of$ .07 cents per 100cf is necessary to fund the <br /> 1999 sewer operating budget. <br /> (37,500,000 divided by 100 X $1.91 = $716,200) <br /> In 1988, the City Council passed an ordinance relating to sewer rates and charges. It reads that <br /> .all sewer charges shall be at the rate of$1.20 per hundred cubic feet of water used plus a Metro <br /> Waste surcharge as determined by the following formula: <br /> Metro Waste Rate Surcharge Formula <br /> X = .88Y -$.88 + F <br /> $315,000 <br /> X = Surcharge per 100 cubic feet <br /> Y = Metro Waste charges for calendar year ($498,300 in '99) <br /> F = Inflationary Factor to Balance Budget ($:20 cents in '99) <br /> This formula allows for changes in the sewer rates without amending the ordinance. The <br /> rate increase is handled administratively and requires no Council Action. <br />