HomeMy WebLinkAbout11-050 Allocate Cash Between Water and Sewer
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 11 - 050
A RESOLUTION ALLOCATING THE 12/31/2010 CASH BALANCE BETWEEN
THE WATER FUND AND THE SEWER FUND
Motion By: Keeney Second By: Soukup
WHEREAS, The City Council directed s taff to segregate the water and sewer operations into
separate F unds beginning with the year ending 12/31/2010; and
WHEREAS, Staff has analyzed the cash balance in the combined Water and Sewer Fund based on
seven years of historical operational data and both the Water Operations and the
Sewer Operations have each contributed approximately 50% of the revenues; and
WHEREAS, The City Council recognizes that, historically, the Water Operations have significantly
subsidized the Sewer Operations ; however going forward, each operation should be
self supporting by the revenues it generates ; and
WHEREAS, Staff has analyzed the im pact of splitting the cash balance on future utility rates of
which a 50/50 split would not require an immediate rate increase for the Sewer Fund.
NOW THEREFORE BE IT HEREBY RESOLVE D BY THE CITY COUNCI L OF PRIOR LAKE,
,
MINNESOTA
as follows:
1. The recitals set forth above are incorporated herein.
2. The City Council hereby approves allocating the cash balance of the combined Water and Sewer
Fund on 12/31/2010 as follows:
50% - Water Fund
50% - Sewer Fund
PASSED AND ADOPTED THIS 18th DAY OF APRIL, 2 011.
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keeney
Soukup X Soukup
______________________________
Frank Boyles, City Manager