HomeMy WebLinkAboutRESO 9520DocuSign Envelope ID: B31C5E49-8AA8-4A31-9D29-B72521B248BO
Resolution No. 9520
Resolution of the Council of the City of Palo Alto Approving the
FY 2016 Wastewater Utility Financial Plan and Amending the
Wastewater Utility Reserves Management Practices
RECITALS
A. Each year the City of Palo Alto ("City") assesses the financial position of its
utilities with the goal of ensuring adequate revenue to fund operations. This includes making
long-term projections of market conditions, the physical condition of the system, and other
factors that could affect utility costs, and setting rates adequate to recover these costs. It does
this with the goal of providing safe, reliable, and sustainable utility services at competitive
rates. The City adopts Financial Plans to summarize these projections.
B. The City uses reserves to protect against contingencies and to manage other
aspects of its operations, and regularly assesses the adequacy of these reserves and the
management practices governing their operation. The status of utility reserves and their
management practices are included in Reserves Management Practices attached to and made a
part of the Financial Plans.
C. The City intends to make changes to its Wastewater Utility Reserves
Management Practices to amend the purpose and management practices of the Wastewater
Utility's Capital Improvement Program {CIP) Reserve.
The Council of the City of Palo Alto RESOLVES, as follows:
SECTION 1. The Council hereby approves the FY 2016 Wastewater Utility Financial
Plan, including the amended Wastewater Utility Reserves Management Practices. These
Reserves Management Practices replace the Reserves Management Practices previously
approved for the Wastewater Utility as part of the FY 2015 Wastewater Utility Financial Plan
(Resolution 9423).
SECTION 2. The Council hereby approves the transfer of $2.164 million in FY 2015
from the Rate Stabilization Reserve to the Operations Reserve, the transfer of all funds released
from the Reappropriations Reserve at the end of FY 2015 to the CIP Reserve, and the
exceedance of the maximum CIP Reserve guidelines through the end of FY 2017, as described in
the FY 2016 Wastewater Utility Financial Plan approved via this resolution.
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DocuSign Envelope ID: 831 C5E49-8M8-4A31-9D29-872521 824880
SECTION 3. The Council finds that the adoption of this resolution does not meet the
California Environmental Quality Act's definition of a project under Public Resources Code
Section 21065, and therefore, no environmental assessment is required.
INTRODUCED AND PASSED: June 15, 2015
AYES: BERMAN, BURT, DUBOIS, FILSETH, HOLMAN, KNISS, SCHARFF, SCHMID,
WOLBACH
NOES:
ABSENT:
ABSTENTIONS:
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City Clerk
APPROVED AS TO FORM: r DocuSigned by: aw.~ B~
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Senior Deputy City Attorney
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Mayor
APPROVED:
City Manager
Director of Utilities
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Director of Administrative Services
Envelope Number: B31 C5E498AA84A319D29B72521 B248BO
Subject: Please DocuSign this document: RESO 9520 Wastewater Financial Plan 2015 FINAL.pdf
Source Envelope:
Document Pages: 2
Certificate Pages: 5
AutoNav: Enabled
Envelopeld Stamping: Enabled
Status: Original
7/.13/2015 4:38:46 PM PT
Amy Bartell
Amy.Barteii@CityofPaloAito.org
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 7/14/2015 6:51:27 AM PT
I D: d5906553-a4c5-4680-a48a-189367 4aaf9b
Lalo Perez
Lalo. Perez@CityofPaloAito.org
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 7/14/2015 7:57:04 AM PT
ID: 18d3d9ca-ff03-4868-824d-d709fa45a905
Valerie Fong
Valerie.Fong@CityofPaloAito.org
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 7/20/2015 1:49:02 PM PT
ID: 185cea88-9f14-4903-b0a0-ef90632c1 e45
James Keene
james.keene@cityofpaloalto.org
City Manager
City of Palo Alto
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Accepted: 4/14/2015 5:40:07 PM PT
ID: 44fe333a-6a81-4cb 7 -b 7d4-9254 73ac82e3
Signatures: 4
Initials: 0
Holder: Kim Lunt
kimberly.lunt@cityofpaloalto.org
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Using IP Address: 199.33.32.254
GDocuSigned by:
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Using IP Address: 166.170.39.71
Signed using mobile
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Using IP Address: 199.33.32.254
GDocuSigned by:
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Using IP Address: 199.111.1.65
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Status: Completed
Envelope Originator:
Kim Lunt
250 Hamilton Ave
Palo Alto , CA 94301
kimberly.lunt@cityofpaloalto.org
IP Address: 199.33.32.254
Location: DocuSign
Sent: 7/13/2015 4:41:13 PM PT
Viewed: 7/14/2015 6:51:27 AM PT
Signed: 7/14/2015 6:51:54 AM PT
Sent: 7/14/2015 6:51:56 AM PT
Viewed: 7/14/2015 7:57:04 AM PT
Signed: 7/14/2015 7:57:22 AM PT
Sent: 7/14/2015 7:57:24 AM PT
Viewed: 7/14/2015 8:46:11 AM PT
Signed: 7/20/2015 1:49:14 PM PT
Sent: 7/20/20151:49:16 PM PT
Viewed: 7/23/2015 11 :32:54 AM PT
Signed: 7/23/2015 11:33:08 AM PT