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13 <br /> • It is estimated that the Ci will sell 37,500,000 cubic feet of sewer in 1998. Calculating the <br /> City g <br /> estimated 1998 sewer revenue (37,500,000 divided by 100 X $1.72) shows a total income of <br /> $645,000. <br /> Projected expenditures of $690,400 produces a deficit of ($45,400) and an increase is necessary <br /> to balance the operating budget. A rate increase of$ .12 cents per 100cf is necessary to fund the <br /> ' 1998 sewer operating budget. <br /> (37,500,000 divided by 100 X $1.84 = $690,000) <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 /> 1 Y = Metro Waste charges for calendar year ($486,000 in '98) <br /> F = Inflationary Factor to Balance Budget ($.16 cents in '98) <br /> This formula allows for changes in the sewer rates without ammending the ordinance. The <br /> rate increase is handled administratively and requires no Council Action. <br /> 1 <br /> I <br />