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Home My WebLink About2026-04-07 Finance Committee Action MinutesFINANCE COMMITTEE ACTION MINUTES Page 1 of 2 Regular Meeting April 7, 2026 The Finance Committee of the City of Palo Alto met on this date in the Community Meeting Room and by virtual teleconference at 4:00 PM. Present In-Person: Lauing (Chair), Burt, Lu Absent: Call to Order Public Comment Agenda Items 1. Recommend City Council Adoption of a Resolution Amending Utility Rate Schedule D-1 (Storm and Surface Water Drainage) Reflecting a 3.0% Consumer Price Index Rate Increase to $18.14 Per Month Per Equivalent Residential Unit for Fiscal Year 2027; CEQA Status - Not a Project MOTION: Councilmember Burt moved, seconded by Councilmember Lauing, to recommend the City Council adopt the attached resolution amending Utility Rate Schedule D-1 (Storm and Surface Water Drainage), to implement a 3.0% rate increase consistent with the applicable Consumer Price Index, increasing the monthly charge per Equivalent Residential Unit (ERU) by $0.53, from $17.61 to $18.14 for Fiscal Year 2027. MOTION PASSED: 3-0 2. Discussion of Electrification State Caps and Additional Discretionary Subsidies and Potential Recommendation to City Council ACTION MINUTES Page 2 of 2 Finance Committee Meeting Action Minutes: 04/07/2026 MOTION: Councilmember Burt moved, seconded by Councilmember Lu, to recommend the City Council adopt an ordinance amending the Fiscal Year (FY) 2026 Municipal Fee Schedule to reflect subsidies for Photovoltaic and Energy Storage Systems fees as described below: a. Pursue a written finding that would allow the City to exceed the state cap for Photovoltaic and Energy Storage Systems, and b. Direct staff to develop a rebate program funded through non-rate revenues Utilities funds that provides subsidies for all fee categories at an amount that approximates the difference between City costs and state caps. MOTION PASSED 3-0 MOTION: Councilmember Burt moved, seconded by Councilmember Lu, to recommend the City Council adopt an ordinance amending the Fiscal Year (FY) 2026 Municipal Fee Schedule to reflect subsidies for Electric Service and HVAC Permits fees as described below: a. Direct staff to develop a rebate program funded through non-rate revenues Utilities funds that provide subsidies for all fee categories at an amount that approximates the proposed cost in Table 2, excluding “Electric Service – New or Replacement 400 amp and Greater.” MOTION PASSED: 3-0 Future Meetings and Agendas Adjournment: The meeting was adjourned at 6:05 P.M.