HomeMy WebLinkAboutRESO 9694170320 jb 6053929
Resolution No. 9694
Resolution of the Council of the City of Palo Alto Approving the
FY 2018 Gas Utility Financial Plan
R E C I T A L S
A. Each year the regularly assesses the financial position of
its utilities with the goal of ensuring adequate revenue to fund operations. This includes
making longterm 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
part of the Financial Plans.
The Council of the City of Palo Alto does hereby RESOLVE as follows:
SECTION 1. The Council hereby adopts the FY 2018 Gas Utility Financial Plan.
SECTION 2. The Council finds that the adoption of this resolution does not meet the
California Environmental Quality Act a project under Public Resources
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DocuSign Envelope ID: 25176E11-8AC3-4141-BA0A-FF6B56AD0BCE
170320 jb 6053929
Code Section 21065, and therefore, no environmental assessment is required.
INTRODUCED AND PASSED: June 27, 2017
AYES: DUBOIS, FILSETH, FINE, HOLMAN, KNISS, KOU, SCHARFF, WOLBACH
NOES: TANAKA
ABSENT:
ABSTENTIONS:
ATTEST:
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
Deputy City Attorney City Manager
Director of Utilities
Director of Administrative Services
DocuSign Envelope ID: 25176E11-8AC3-4141-BA0A-FF6B56AD0BCE
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