HomeMy WebLinkAbout2000-12-12 City CouncilTO:
ATTENTION:
City of Palo Alto
CRy Manager’s Report
HONORABLE CITY COUNCIL ~
FINANCE COMMITTE
FROM:CITY MANAGER DEPARTMENT:ADMINISTRATIVE
SERVICES
DATE:DECEMBER 12, 2000 CMR: 443:00
SUBJECT:ORDINANCE CLOSING THE 1999-00 FISCAL YEAR,
INCLUDING REAPPROPRIATION RE QUE ST S,
COMPLETED CAPITAL IMPROVEMENT PROJECTS, AND
THE YEAR END PERFORMANCE HIGHLIGHTS REPORT
RECOMMENDATION
Staff recommends that the Finance Committee review and forward the attached ordinance
and associated exhibits to the City Council for its approval to close the 1999-00 Budget
and its authorization to re-appropriate 1999-00 funds into the 2000-01 Budget (Exhibit
A), close completed capital improvement projects (Exhibit B) and transfer remaining
balances to the appropriate reserves (Exhibits C & D for General Fund and Exhibits E &
F for Enterprise Funds).
BACKGROUND
Exhibit C and Exhibit E of the budget-closing ordinance summarize financial results for
the fiscal year 1999-00 for the General Fund and Ent.erprise Funds respectively. They
provide an analysis of the performance of these funds in comparison to the Budget as
adopted and adjusted by Council throughout the fiscal year. The result of net operations
is explained in terms of changes to the various fund reserves authorized by Council. The
economic trend and financial performance analysis that has been attached to this CMR in
prior years is now included as a supplement to the Comprehensive Annual Financial
Report, which is attached as Exhibit G.
DISCUSSION
The City’s financial position remains one of health and strength, with the General Fund
reporting a net operating surplus of $6.6 million before the use of reserves to fund the
PAMF/SOFA acquisition. This performance is primarily due to revenues exceeding
budget and it should be noted that, for the second year in succession, departments
CMR:443:00 Page 1 of 3
obligated nearly 100 percent of their budgets. The Rate Stabilization Reserves (RSRs) for
all enterprise funds combined increased $2.3 million and the balances exceed guidelines.
This result is down from last’s year’s by $7.6 million, primarily due to the $5.2 million
reduction in the Gas Fund RSR related to the unprecedented rise in gas supply prices.
These results, while still positive, show a declining rate of growth from prior years and
reflect a leveling off of the current economic expansion. With the demand for capital
spending for the Infrastructure Management Plan and also for a continued high level of
services, the City should take a conservative approach to its finances and carefully review
¯ and prioritize expenditure requests.
RESOURCE IMPACT
Adoption of the attached budget-closing ordinance allows for reappropriation and
carryover of funding from the 1999-00 Budget for the completion of specific operating
budget programs or projects in the current fiscal year. In addition, the closing of
completed capital improvement project balances to the Budget Stabilization Reserve
(BSR) releases unspent monies for further appropriation by Council. The General Fund
BSR has been capped in accordance with Council policy and the remaining surplus has
been utilized to fund the Reserves for Emergencies to its Council-approved target. Due to
use of the reserve for the PAMF/SOFA acquisition, there is a small decrease in the
General Fund Infrastructure Reserve this year. Exhibit D and Exhibit F provide the
balance changes for all reserve categories for the General Fund and the Enterprise Funds.
POLICY IMPLICATIONS
This recommendation is consistent with existing policies.
ENVIRONMENTAL REVIEW
The action recommended is not
Environmental Quality Act.
a project for the purposes of the California
ATTACHMENT
Attachment A: Budget Closing Ordinance body text
Exhibit A - 1999-00 Re-Appropriation Requests
Exhibit B - Capital Improvement Projects Completed & Closed in
1999-00
Exhibit C- General Fund Summary
Exhibit D - General Fund Reserve Summary
Exhibit E - Enterprise Summaries
Exhibit F - Enterprise Reserve Summary
Exhibit G - Performance Highlights Report
PREPARED BY:Stanley Arend, Accounting Manager
Lalo Perez, Budget Director
CMR:443:00 Page 2 of 3
DEPARTMENT HEAD APPROVAL:
¯ CITY MANAGER APPROVAL:
HARRISON
Assistant City Manager
CMR:443:00 Page 3 of 3
ATTACHMENT A
ORDINANCE NO.
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO
AUTHORIZING CLOSING OF THE BUDGET FOR FISCAL YEAR 1999-00
WHEREAS, pursuant to the provisions of Section 12 of Article
III of the Charter of the City of Palo Alto and as set forth iD
Section 2.28.070 of the Palo Alto Municipal Code, the Council on
June 19, 1999 did adopt a budget for fiscal year 1999-00; and
WHEREAS, fiscal year 1999-00. has ended and the financial
results, although subject to post-audit adjustment, are now
available and are herewith reported in summarized financial
Exhibits ~A" and "B" and ~C" and ~D" prepared by the Director,
Administrative Services, which are attached hereto, and by
reference made a part hereof; and
WHEREAS, pursuant to Section 2.28.080 of the Palo Alto
Municipal Code, the City Manager did amend the budgetary accounts
of the City of Palo Alto to reflect:
(A) Additional appropriations authorized by ordinance of the
City Council.
(B) Amendments to employee compensation plans adopted by the
City Council.
(C) Transfers of appropriations from the contingent account
as authorized by the City Manager.
(D) Redistribution of appropriations between functional areas
major activities, and objects within various departments as
authorized by the City Manager.
(E) Fiscal year 1999-00 appropriations which on July i, 2000
were encumbered by properly executed, but uncompleted, purchase
orders or contracts; and
WHEREAS, fiscal year 1999-00 appropriations in certain
departments and categories as .shown on the attached Exhibit "A",
while not encumbered by purchase order or contract, at year end are
nevertheless recommended for reappropriation in the fiscal year
2000-01 budget.
NOW, THEREFORE, the Council of the City of Palo Alto does
ORDAIN as follows:
SECTION I. The fiscal year 1999-00 encumbered balances for
the departments and categories shown on Exhibit ~C" shall be
carried forward and reappropriated to those departments and
categories in the fiscal year 2000-01 budget.
SECTION 2. The City Manager is further authorized
directed:
and
(A) To’close the fiscal year 1999-00 budget accounts in all
funds and departments and, as required by the Charter of the City
of Palo Alto, to make such interdepartmental transfers in the 1999-
00 budget as adopted or amended by ordinance of the Council.
(B) To close various completed Capital Improvement Projects
as shown in Exhibit ~B" and move the balances into the respective
reserve funds indicated in Exhibit ~B".
(C) To establish reserves as shown in Exhibit "D" and "E" for
all Funds as necessary to provide for:
(I) A reserve for encumbrances and reappropriations in
the various funds, the purpose of which is to carry forward and
continue in effect the unexpended balance of appropriations for:
(a) Fiscal year 1999-00 departmental expenditures
which were authorized to be carried forward pursuant to Section 1
above.
(2) Reserves for Advances to Other Funds and for Stores
Inventory in accordance with ordinance and policy guidelines.
(3) A reserve for general contingencies of such amount
that the City Council has approved.
(4) Reserves for utilities plant replacement, rate
stabilization, and other reserves in accordance with Charter and
policy guidelines.
(D) To fund the Budget Stabilization Reserve in accordance
with the General Fund Reserves Policy adopted by the City Council.
SECTION 3. The sum of Two Hundred Seventy Seven Thousand
Nine Hundred Thirty Three Dollars ($277,933) is hereby transferred
from the Vehicle Maintenance Retained Earnings to the Vehicle
Maintenance and Replacement Fund. This. transfer will reduce the
balance in the Vehicle Maintenance Retained Earnings to $7,032,874.
SECTION 4. Upon completion of the independent audit,
detailed financial statements reflecting the changes made by
Sections i, 2, and 3 of this ordinance, shall be published as part
of the annua! financial report of the City as required by Article
III, Section 16, of the Charter of the City of Palo Alto and in
accordance with generally accepted accounting principles.
SECTION 5. As specified in Section 2.28.080(a) of the Palo
Alto Municipa! Code, a two-thirds vote of the City Council is
required to adopt this ordinance.
SECTION 6. The Council of the City of Palo Alto hereby
finds that the enactment of this ordinance is not a project under
the California Environmental Quality Act and, therefore, no
enwironmental impact assessment is necessary.
SECTION 7.As provided in Section 2.04.350 of the Palo
Alto Municipal Code, this ordinance shall become effective upon
adoption.
INTRODUCED AND PASSED:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
ATTEST:APPROVED:
City Clerk
APPROVED AS TO FORM:
Mayor
City Manager
Senior Asst. City Attorney Director
Services
of Administrative
Exhibit A
1999-00 RE-APPROPRIATION REQUESTS
Total Recommended
$474,152
$50,000
$119,945
$563,000
$1,207,097
’ ~ ~ ’~ ~~CommentslReasonfor not Comp!etjpg in’ ’
Administrative Services Department :~ ~ -~.-~ : ,~ ~ : ~ i: ~ _ . ,, ~
$6~,486 Improvements to University Avenue
Depot, Golf Course, Pro-Shop, and Golf
Course restaurant, and sound wall
improvements ($50,000).
More time is needed to complete projects.
Community Services Department-¯ " =
$20,000 Carpeting for Cubberley Theater.Purchase order and signed contract were not executed
by June 30 because only one bid was received and it
was over budget.
Human Resources Department
$30,000 retain consultant services for the new
employee orientation project.
$4,000 To retain consultant services for the new "
employee orientation project.
$20,000 To retain a consultant for salary survey
and negotiations data collection.
There was a delay in obtaining a consultant. Scope of
work is currently being developed and consultant list is
completed.
There was a delay in obtaining a consultant. Scope of
work is currently being developed and consultant list is
completed.
Current provider discontinued salary surveys. New
contractor is being sought. Project was also delayed to
coincide with the hiring of the new City Manager.
1999-00 RE-APPROPRIATION REQUESTS
$129,000 Consultants and contractors to facilitate
$34,000
$39,000
$14,266
$20,000
$35,400
$15,500
$18,500
processing planning applications and
completing planning projects.
Contract services for local shuttle service.
Plan check and inspection services for
Stanford projects.
Completion of the zoning ordinance in 2 rather than 3
years will require a greater level of fiscal resources tha~
are available in one year. The department hopes to
maximize the availability of funding from 99-00 and 00
01 to meet its goals.
The contractor providing shuttle service has not
invoiced the City. Funding will be needed in 00-01
when invoices are finally received.
There will be an ongoing need for these funds as
Stanford projects continue in 00-01. Anticipating this,
temporary personnel were hired in 99-00 so that these
funds could be used in 00-01.
Program expense for the Commute This project was delayed because staff was not hired
Coordination Pilot Project.until later in the fiscal year.
Zoning ordinance work plan.Work plan is scheduled for completion in the first
quarter of 00-01.
Expenses used to reimburse the Santa County is delayed in billing the City. Funding is
Clara County Congestion Management needed to process invoices as they arrive.
program.
The second workshop conducted by the Advisory
Group is delayed and scheduled for July 2000.
Expenses related to the R-1 Advisory
Group, which develops guidelines for
neighborhood compatibility and
replacement homes.
Printing services.Year end savings are needed to support the Zoning
Ordinance Update initiative, which will require
significant expense related to duplication of materials.
Public Works Department
$12,000
$20,000
Purchase o~’Th’~ater cabin’~t and step
lighting.
Redundant fiber connection at the MSC
RFQ’s were sent out prior to June 30, 2000 but
contracts could not be executed before the end of the
fiscal year.
Department was unaware that fiber optics could be
utilized from an existing connection at the MSC until
late in the fiscal year.
Utilities Department - Administration ¯
$50,000 Contract web design and implementation
services needed to complete a large-scale
site redesign of the Utilities web page.
Changes is scope continued through the year. This
resulted in changes to the contract development
process, which delayed the project.
1999-00 RE-APPROPRIATION REQUESTS
$563,000 Miscellaneous vehicle and equipment
purohases and outfitting services.
The vehicle maintenance audit coupled with high
volume of workload left staff with less time to complete
vehicle replacement projects.
$28,400 Bikeway system improvements. (PLA
19524)
Project was delayed pending the completion of the
citywide Bicycle Master Plan, due in Fall 2000.
Public Works ¯
" ~91 54~ ............City facility water backflow
19407)
Existing workload constraints made this project a lower
priority than other assignments.
***Note To General Fund Reappropriations: The Comprehensive Annual Financial Report shows $612,000 in
General Fund reappropriations. The $138,000 difference from the $474,000 shown here is a capital project carry-
forward for the Community Center that does not require Council action.
Exhibit B
City of Palo Alto
CAPITAL IMPROVEMENT PROGRAM PROJECTS
Completed and Closed in 1999-00
PROJECT NUMBER
GeneralFund
19519
19706
19802
19810
19811
19919
WaterFund
0005
Electric Fund
0007 *
0012
9510
Gas Fund
9906
9909
PROJECT TITLE
Mulit-line Telephone System Replacement
Facilities Walkway Improvement
Sailing Platform Removal
New Vehicles
New Equipment Purchase
Top Dressing Tractor
Total
Water Receiving Station
Total
East Meadow Switch Replacement
New Vehicles
Substation Transformer Replacement
Total
Vacuum Mud Disposal Trailer
Gas Meter Prover
Total
PROJECT
BALANCE
5,873
1,060
11,926
178
1,431
22,461
$ 42,929
90,000
$ 9O,0OO
280,000"
16,537
40O
$ 296,937
188
6,517
$ 6,705
* Projects are closed No expenditures were incurred
EXHIBIT C
Revenues
Property Taxes
Sales Taxes
Utility Users Tax
Transient Occupancy Tax
Other taxes, fines & penalties
Service fees and permits
Charges to Other Funds
Rental Income
Other Revenues
Total Revenues
Add: Operating Transfers In
Prior Year Encum & Reapprc
1999-00
Adjusted
Budget
¯10,057
20,851
5,775
7,600
7,522
10,500
8,979
9,989
10,932
12,993
5,428
T~tai Source of,Funds’ i i ~]:(,, ~!0,622
Expenditures
Administrative Departments
Community Services
Fire
Planning
Police
Public Works
Non-Departmental
PAMF/SOFA
Total Expend!ture~ ~
Add: Operating Trans Out
Total Use of Funds
Net Surpius!(Defieit)
1999-00 1999-00 1999-00 1999-00
CAFR Basis Budgetary Encum+Budgetary
Rev/Exp Adjs Reapprop Rev/Exp
10,770
22,867
5,861
8,293
9,096
12,408
517
9,944
11,841
91;597
7,078
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
10,770
22,867
5,861
8,293
9,096
12,408
7,595
9,944
11,841
1999-00
Budget
Variance
713
2,017
86
693
1,575
1,909
(1,384)
(45)
909
12,837
,104,434-
18,112 15,772
22,076 17,858
15,711 14,512
7,885 6,639
19,106 17,666
12,864 8,827
5,711 6,927
6,917
ii0s,3s ’ 88ao1
9,596 9,605
-’117,978 I’ 97’806~
’~ ’(%356)! ¯6,628
98;676’, i,] ’6,473
n/a 12,836
5,428 n/a 5,428
¯
-5,428. : " n/a ,,116,940
580 1,637 17,989
3,021 1,003 21,882
775 421 15,708
(49)988 7,578
1,063 376 19,105
2,810 898 12,535
(1,100)50 5,877
6,917 6,917
,7,1o0 12,288
12~288
107~589
9,605
117,!94
(253)
(156)
0
123
194
3
308
2
330
(166)
793
(9)
784
7,102
CAFR Reconciliation:Current year encumbrance/reappropriations
Prior year encumbrance/reappropriations
Current year stores emcumbrance adjustment
Prior year stores emcumbrance adjustment
CAFR Net imcome
12,288
(5,428)
88
(67)
6,628
EXHIBIT D
Balance Net From Balance
@ 06130/99 Operations @ 06/30/00
CAFR TO Budget Reconciliation:
CAFR Fund Balance
Less: Encumbrances
Reappropriations
Adjustment for Stores Operations
BudgetaryFund Balance,, :~; -_ ,, ;~-~
49,137 6,628 55,765
(5,067)(6,978)(12,045)
(670)58 (612)
242 39 281
43,642 -~- (253) ~ 43;389
Allocate To Reserves:
Budget Stabilization Reserve
Reserve For Infrastructure Improvements
Notes Receivable Reserve
Stores Inventory Reserve
Unrealized Investment Gain/Loss Reserve
Reserve For Streets & Sidewalks
Reserve For Emergencies
Adjustment for Stores Operations
Budgetary Fund Balance ~
20;591 (562)20,029
14,666 (768)13,898
479 170 649
1,691 453 2,144
7 (7)0
0 0 0
5,966 422 6,388
242 39 281
~43,642 ~ -(253),43,389
EXHIBIT E
ENTERPRISE SUMMARIES
REVENUE
Water sales
Other revenues
Reappropriations /Enc
TOTAL REVENUE
EXPENSES
Purchases
Other Expenses
TOTAL OPERATING EXPENSE
Capital Expenses
TOTAL EXPENSES
TO/(FROM) RESERVES
...., WATI=R,FUND~ ~
1998-99
Act/Enc/
Reapprop
12,615
926
3,193
’16,734
4,114
7,050
11,164
3,500
14,664
2 070
1999-00
Adjusted
13,281
1,109
1,021
15,411
5,712
7,754
13,466
3,869
17,335
(1,924)
1999-00
Act/Enc/
Reapprop
14,551
1,163
1,021
16,735
5,711
7,400
13,111
3,640
16,751
(16)
$ Variance
Favorable
(Unfavor.)
1,270
54
0
1,324
1
354
355
229
584
1,908
I
¯’~ELECTRIC FUND,
Act/Enc/
Reapprop
Actual/Enc.
REVENUE
Electric retail sales
Electric wholesale sales
Other revenues
Reappropriations /Enc
TOTAL REVENUE
EXPENSES
Purchases
NCPA & TANC Debt Svc
Other Expenses
TOTAL OPERATING EXPENSE
Capital Expenses
TOTAL EXPENSES
TO/(FROM) RESERVES
1998-99
Act/Enc/
Reapprop
66,409
5,641
12,292
5,931
90,273
25,478
10,940
25,812
62,230
10,834
73,064
17,209
1999-00
Adjusted
56,364
3,347
14,335
6,546
80,592
24,390
11,391
28,408
64,189
19,666
83,855
(3,263)
56,769
4,582
10,844
6,546
78,741
18,261
11,026
27,965
57,252
18,603
75,855
2,886
$ Variance
Favorable
(Unfavor.)
4O5
1,235
(3,491)
0
(1,851)
6,129
365
443
6,937
1,063
8,000
6,149
GAS FUND
REVENUE
Gas retail sales
Gas wholesale sales
Other revenues
Reappropriations / Enc
TOTAL REVENUE
EXPENSES
Pu~hases
Other Expenses
TOTAL OPERATING EXPENSE
Capital Expenses
TOTAL EXPENSES
TO/(FROM) RESERVES
1998.99
Act/Enc/
Reapprop
17,942
0
1,765
1,772
21,479
10,247
7,739
17,986
3,439
21,425
54
1999-00 Act/Eric/
Adjusted Reapprop
Bud.~et Actual/Enc.
$ Variance
Favorable
(Unfavor.)
15,873 16,443 570
0 0 0
1,430 1,372 (58)
993 993 0
18,296 18,808 512
11,596 11,595 1
8,542 8,470 72
20,138 20,065 73
4,026 3,904 122
24,164 23,969 195
(5,868)(5,161)707
WASTEWATER COLLECTION FUND ,,~~i ’, -
1998-99 1999-00 ActJEnc/
Act/Enc/Adjusted Reapprop
Reapprop Bud_qet Actual/Enc.
REVENUE
Revenues
Reappropriations /Enc
TOTAL REVENUE
EXPENSES
Sewer Treatment Exp.
Operating Expenses
TOTAL OPERATING EXPENSE
Capital Expenses
Principal Payments
TOTAL EXPENSES
TO/(FROM) RESERVES
10,230
8,331
18,561
4,275
2,523
6,798
9,289
187
16,274
2,287
$ Variance
Favorable
(Unfavor.)
11,338 11,307 (31)
8,262 8,262 0
19,600 19,569 (31)
4,778 4,390 388
2,945 2,542 403
7,723 6,932 791
13,426 13,569 (143)
43 47 (4)
21,192 20,548 644
(1,592)(979)613
!-_~ ¯¯~: WASTEWATER TREATMENT FUNDI
1998-99
Act/Enc/
Real~l~rol~
REVENUE
Operating Revenues 12,271
Bond Proceeds 7,266
Reappropriations / Enc 3,468
Bonded Reappr/Encum 0
TOTAL REVENUE 23,005
EXPENSES
Operating Expenses 11,570
TOTAL OPERATING EXPENSE 11,570
Capital Expenses 10,994
Principal Payments 408
TOTAL EXPENSES 22,972
TO/(FROM) RESERVES 33
1999-00 ActJEnc/$ Variance
Adjusted Reapprop Favorable
~ActuallEnc.(Unfavor.)
13,213 12,650 (563)
0 0 0
2,246 2,246 0
6,883 6,883
22,342 21,779 (563)
11,899 11,921 (22)
11,899 11,921 (22)
9,650 9,997 (347)
433 298 135
21,982 22,216 (234)
360 (437)(797)
I :, ,-¯:REFUSE FUND
1998-99
Act/Enc/
Reapprop
REVENUE
Revenues 22,428
Reappropdations /Enc 2,356
TOTAL REVENUE 24,784
EXPENSES
Payments to PASCO 7,169
Other Expenses 13,595
TOTAL OPERATING EXPENSE 20,764
Capital Expenses 2,068
TOTAL EXPENSES 22,832
TO/(FROM) RESERVES 1,952
1999-00
Adjusted
Act/Enc/
Reapprop
Actual/Enc.
22,429
2,263
24,692
23,041
2,263
25,304
7,530
15,988
23,518
1,980
25,498
(806)
6,957
14,754
21,711
1,979
23,690
1,614
$ Variance
Favorable
(Unfavor.)
612
0
612
573
1,234
1,807
1
1,807
2,419’
~-,, ,’ -¯ ~’,, ,,,~ STORM,, ,DRAINAGEFUND ~,,~, ~" ,, ~
1998-99
AcUEnc/
ReaDDroD
REVENUE
Revenues 2,202
Reappropriations / Enc 2,664
Bonded Reappr/Encum 0
Restricted Bond Proceeds 0
TOTAL REVENUE 4,866
EXPENSES
Operating Expenses 2,011
TOTAL OPERATING EXPENSE 2,011
Capital Expenses 2,984
Principal Payments 300
TOTAL EXPENSES 5,295
TO/(FROM) RESERVES (429)
1999-00 Act/Eric/$ Variance
Adjusted Reapprop Favorable
~Actual/Enc.(Unfavor.)
2,665 2,527 (138)
275 275 0
1,327 1,327 0
0 944 944
4,267 5,073 806
2,060 2,088 (28)
2,060 2,088 (28)
1,998 2,148 (150)
300 200 100
4,358 4,436 (78)
(91)637 728
EXHIBIT F
ENTERPRISE RESERVE SUMMARY
FISCAL YEAR 1998-99 Water Electric Gas WWC WWT Refuse Storm
Beginning Reserves 10,401 102,614
To (From) Reserves (16)2,886
;Ending Reserves ,~_ ~ ~ -.:, ,’,,, ,!0,385 ~,~ ~t05,500 ~ ¯
Budgeted Reserves 8,477 99,351
% of Budget 123%106%
17,730 10,082 4,651 8,513 91
(5,161)(979)(437) 1,614 637
,12,569’" ’~ ¯9,103 ~ ,~" 4,214 :.’10,127-,,~,,~’~,, ",728
11,862 ,8,490 5,011 7,707 n/a
106%107%84%131%n/a
Totals
154,082
(1,456)
",152,626 ~,
140,898
108%
FISCAL YEAR 1998-99 Water Electric Gas WWC WWT Refuse Storm
Rate stabilization (RSR):
General RSR 9,506 8,683 2,847 9,537 728
Supply RSR 28,750 3,832
Distribution RSR 2,632 7,355
Total RSR 9,506 31,382 11,187 8,683 2,847 9,537 728
Emergency plant replace 879 2,198 748 420 1,367
Calaveras 68,013
Underground loan 613
Conservation loan 634
Water Resources Board 590
Shasta rewind loan 64
Central Valley Project 908
Public benefit program 2,322
Ending Reserves "10,385 105,500 12,569 9,103 , i 4,214 10,127 , 728
Totals
31,301
32,582
9,987
73,870
5,612
68,013
613
634
590
64
908
2,322
152,626:
¯RATE STABILIZATION RESERVE
FISCAL YEAR 1998-99 Water Electric Gas WWC WWT Refuse Storm Totals
Beginning RSR 9,547 24,597 16,381 9,678 3,372 7,923 91
To (From) RSR (41)6,785 (5,194)(995)(525)1,614 637
,Ending RSR 9,506 31,382~11,187 8,683 ~ 2,847 ¯9,537 728
RSR Maximum 7,935 21,977 6,382 5,382 3,786 3,725 n/a
RSR % of Maximum 120%143%175%161%75%256%n/a
71,589
2,281
73,870
49,187
149%