Laserfiche WebLink
Sewer rates are studied bi-annually in conjunction with DSRSD. The <br />next review will be done in early 1991. Staff will be recommending <br />that we also study on-going capital replacement funding as we are <br />doing this year with the Water Fund. Sewer connection rates will <br />also be studied. <br /> <br />Appendix C contains a recap of Sewer M & O Fund operations for <br />1989-90. <br /> <br />Capital Improvement Fund9 <br /> <br />Development revenue fell short of expectations due presumably to <br />the state of the overall economy. Many projects which have growth <br />management approval which were anticipated to start in 1989-90 were <br />delayed. The Street Fund which is primarily dependent on gas tax <br />revenues and grants was not impacted. The Sewer Fund had a <br />shortfall in revenues, but has reserves which can be temporarily <br />drawn upon which will minimize any impact in the 1990-91 sewer <br />capital improvement program. However, the Park Development Fund, <br />the Water Capital Fund and the Miscellaneous Capital Improvement <br />Fund are all impacted. Although the revenues are anticipated to be <br />ultimately received, presumably in the next 1-3 years, these three <br />improvement funds do not have adequate fund balances to support all <br />the projects planned in 1990-91 and carried over from 1989-90. <br />Therefore, before starting the next 5-year capital improvement <br />program planning process, staff will need to re-project the timing <br />of the revenues, and will recommend the priority of current year <br />projects to be completed as funding is realized. This evaluation <br />is currently in process and staff will be presenting recommended <br />changes in the 1990-91 capital improvement budget to the Council as <br />soon as the review is complete. <br /> <br />Appendix C contains a table showing major revenues in 1989-90, <br />budgeted vs. actual, including the major development revenue <br />sources. <br /> <br />APPROPRIATION OF F~ND BALANCES <br /> <br />Each year the City Council is required by law to adopt the City's <br />Appropriation Limit (Prop.4). The City's limit in 1989-90 was <br />$27,780,185. Revenues subject to the limit were $23,986,728, which <br />was not in excess of the limit. However, all funds were not spent <br />by June 30, 1990. The City is allowed to appropriate the <br />additional funds that are within its limit to a contingency reserve <br />to meet existing and future, known and unknown obligations. This <br />will allow the City to exclude these funds from the City's <br />appropriation limit when the funds are expended in a future fiscal <br />year. Although not all funds have revenues which are subject to <br />the appropriations limit, it is still advisable to fully <br />appropriate all fund balances of the operating, internal service, <br /> <br />SR 90:487 <br /> <br />6 <br /> <br /> <br />