Minutes 04/14/1981 - Laserfiche WebLink

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TUESDAY APRIL 14, 1981 - (3) No new taxes, increases in existing tax rates or new service charges. Consideration was given to the prospect of extending the utility tax to natural gas consumers and telephone customers, Such a levy could, depending on the rates established and various state limitations, produce as much as $350,000 annually. It is felt for a number of reasons, how- ever, that this source of additional support for the General Fund should be held in abeyance for at least another year. Electric Fund Electric Fund revenues will be up substantially during FY81-82--a total of $1,923,528 or 30.3%. This increase reflects: (1) A transfer of $180,000 from the Ridgeway Hydro Reserve Fund to pay for a major portion of the Phase III-A engineering work. (2) A full year's effect of the last retail rate increase, which became effective for us on October 1, 1980. (3) A full year's effect of a recently-approved fuel charge adjustment of 6.57%, which will become effective for us on May 1, 1981. Water Fund Water Fund revenues are estimated to increase by $227,700, or 33.5%. This is the result of the increased water rates adopted during the current year, effective August 1, 1980, and which will be in effect for the full twelve months of FY81-82, Sewer Fund Sewer Fund revenues are projected to increase over the current budget appreciably-- by $537,900, or 62.5%. This is a result of: (1) The increased sewer rate adopted during the current year, effective August 1, 1980, and which will be in effect for the full twelve months of FY81-82. (2) An additional increase of 15~ per thousand gallons of water consumption, to become effective July 1, 1981, The new rate would be 80~ per thousand and this would result in a minimum charge per month for each customer of $3.20. Stores Fund All administrative costs of centralized purchasing and warehousing have in the past been paid by the General Fund, by way of a transfer to the Stores Fund. This budget proposed to spread a portion of this cost to the three utility funds and to thereby relieve some of the pressure on the General Fund. Thus, the Stores Fund will receive $20,000 each from the three utility funds and $49,843 from the General Fund, the total of which is slightly less than the current year. Revenue Sharing Fund Revenue Sharing has been reenacted by the federal government and this fund will receive $445,000 during FY81-82. UDAG Fund and CDBG Fund Both of these funds are related to federal grants and the revenues shown reflect only amounts to off-set the administrative costs involved.