HomeMy WebLinkAbout2011-09-19 Ordinance 5129ORDINANCE NO. 5129
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AMENDING THE BUDGET FOR THE FISCAL YEAR 2012 TO
ADJUST BUDGETED REVENUES AND EXPENDITURES WITHIN
THE REFUSE FUND INCLUDING REFUSE RATE CHANGES AND
A SHORT-TERM LOAN FROM THE GENERAL FUND TO THE
REFUSE FUND
The City Council of the City of Palo Alto does ordain as
follows:
SECTION 1. The.City Council of the City of Palo Alto finds
and determines as follows:
A. Pursuant to the provisions of Section 12 of Article III
of the Charter of the City of Palo Alto, the Council on June 20,
2011 did adopt a budget for fiscal year 2012; and
B. The Refuse Fund adopted budget for fiscal year 2012
reflects an operating deficit of $3,693,725 and a Rate
Stabilization Reserve deficit balance of ($8,979,000); and
C. A combination
decreases is needed to
Refuse Fund; and
I
of revenue increases and expenditure
address the operating deficit in the
D. A nine percent rate increase for commercial customers,
a six percent rate increase for residential customers, and an
additional fixed monthly fee of $4.62 for residential customers
are expected to generate an additional $2,187,548 in revenue;
and
E. To minimize immediate impact to ratepayers, City Council
also directed staff to establish a short-term loan of $1,250,000
from the General Fund to the Refuse Fund that will be repaid in
fiscal year 2013 from projected savings resulting from closure
of the landfill; and
F. The freezing of the Zero Waste Coordinator position for
fiscal year 2012 is expected to reduce expenditures by $122',624;
and
G. Closure of the recycling center to allow for closure of
the Palo Alto landfill is expected to reduce expenditures by
$193,553; and
H. City Council authorization is needed to amend the fiscal
year 2012 budget as hereinafter set forth.
SECTION 2. The General Fund Budget Stabilization Reserve is
hereby decreased by the sum of One Million Two Hundred Fifty
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