ADMINISTRATION - Joe Huss, Finance Director
Title
ADOPT 2015 STORM DRAINAGE UTILITY FUND BUDGET
Background
The proposed 2015 Storm Drainage Utility Fund Budget has been reviewed by Council at a number of Workshops in 2014, the most recent being the September 18 Workshop, where Council reached general consensus to bring the budget presented that evening forward for adoption. The proposed budget includes a recommended fee increase of $0.25 per month for 2015; and one additional FTE. The budget is balanced for 2015 with $1,225,100 in operating revenue and $1,225,090 in operating expenses. Five-year projections for the Storm Drainage Fund indicate structural balance with minimal operating gains anticipated through 2019. The proposed budget also includes $590,000 in capital projects funding for 2015, and another $1.7 million in capital projects budgeted for 2016 through 2019.
Recommendation
By motion, adopt the resolution contained herein.
Body
WHEREAS, the proposed Storm Drainage Utility Enterprise Fund Budget for the fiscal year commencing January 1, 2015 has been prepared by the City Manager; and
WHEREAS, the City Council has examined, studied, and reviewed said proposed Storm Water Utility Enterprise Fund Budget; and
WHEREAS, the City Council has, after due consideration and deliberation, made such amendments and adjustments in the proposed Storm Water Utility Enterprise Fund Budget as they consider necessary, desirable, or expedient.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine as follows:
1. That the proposed Budget for the Storm Water Utility Fund attached hereto is approved.
2. That the 2015 appropriations attached hereto are approved.
3. That the 2015 funding sources and fee adjustments identified and attached hereto and reflected in the City's fee schedule are approved.
4. That the City Manager is authorized and directed to implement and to administer, within the budgetary funding limits and within adopted City policy and relevant State and City laws and regulations, said approved Storm Drainage Utility Enterprise Fund Budget.
PASSED by the City Council of the City of Blaine this 16th day of October, 2014.