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<br />26 <br /> <br />TUESDAY, APRIL 28, 1987 <br /> <br />Phase IV <br /> <br />The facilities planned under this phase of the program are in the distant future;- <br />therefore, the financing of this phase of the improvements are not included in this <br />plan. <br /> <br />Summary <br /> <br />Actual expenditures in the Sewer Fund were less than projected for FY85-86. This, <br />coupled with an increase in revenue for the same period, resulted in an increase of <br />estimated surplus in the Sewer fund as of June 30, 1986, of $215,012 over previous <br />estimates. This increased surplus, along with a decrease in the projected cost of <br />expanding the City's Plant and the overall decrease in the program cost, has made <br />possible a financing plan that can be accomplished without selling bonds or <br />adjusting sewer rates for the next several years unless revenue drops because of a <br />cut back in water usage for various reasons or if the cost of the named improvements <br />exceed our estimates by a large margin. <br /> <br />The above program and financing plan does not include facilities related to color <br />removal. As stated before, we consider this to be a separate project and issue that <br />is being addressed according to the time phase schedule as previously given to <br />Council. We are proceeding with the pilot studies in connection with color <br />removal. Upon completion a report will be submitted to Council showing the results <br />of these studies, along with a recommendation as to the method/methods required for <br />color removal. We will also submit an estimate of the project cost and a recom- <br />mendation for financing the required improvements. <br /> <br />GWB <br /> <br />GWB/jbl <br /> <br />L <br />