City of Pleasanton
5/11/2022 12:10:42 PM
5/11/2022 12:10:17 PM
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THE CITY OF 30 <br /> IN <br /> a.ri. CITY COUNCIL AGENDA REPORT <br /> PLEASANTON,. <br /> May 17, 2022 <br /> City Manager <br /> TITLE: PROVIDE DIRECTION FOR THE ALLOCATION OF FUNDS IN THE <br /> SPECIAL REVENUE FUND RELATED TO THE PLEASANTON GARBAGE <br /> SERVICE RATE RESERVE <br /> SUMMARY <br /> The previous Refuse Collection Agreement between the City of Pleasanton and <br /> Pleasanton Garbage Service (PGS) allowed PGS to accumulate a franchise rate <br /> reserve and certain franchise rate deficits. Under the current Franchise Agreement with <br /> PGS this was eliminated and a Rate Reserve Agreement was executed that established <br /> the process for the distribution of the franchise rate reserve. <br /> On February 4, 2020, the City Council approved the $5,342,285 PGS Rate Reserve <br /> calculation and approved $2 million to be deposited into the City's General Fund and <br /> the remaining $3,342,285 to be placed in a special revenue fund and allocated at a later <br /> date. <br /> City staff has prepared an allocation plan for the Council's consideration. <br /> RECOMMENDATION <br /> The City Council Waste and Recycling Subcommittee (Brown/Balch) met on May 5, <br /> 2022, to review the allocation plan prepared by City staff. The Subcommittee and City <br /> staff is recommending that the City Council adopt the allocation plan for the special <br /> revenue fund related to the Pleasanton Garbage Service Rate Reserve (Fund 171 PGS <br /> Reserve Fund). <br /> FINANCIAL STATEMENT <br /> The special revenue fund related to the Pleasanton Garbage Service Rate Reserve <br /> (Fund 171 PGS Reserve Fund) in the amount of $3,438,201.61 will be used in <br /> accordance with the allocation plan as adopted by City Council beginning in Fiscal Year <br /> 2022/2023 and in each subsequent fiscal year as needed until the special fund is <br /> expended. For fiscal year 2022/2023 expenditures have been budgeted to Fund 171 in <br /> the amount of$563,400. <br />
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