HomeMy WebLinkAboutRES 870194.023 - Fiscal Integrity of UtilityRESOLUTION NUMBER 870194.023
A RESOLUTION SETTING FORTH THE POLICY REGARDING FISCAL
INTEGRITY OF PROVIDING UTILITY SERVICES
WHEREAS, the City Council of the City of Georgetown, Texas desires to keep
the Utility Enterprise of the City as a viable operating entity; and
WHEREAS, the Citizens of Georgetown and its extra territorial jurisdiction
(ETJ) are dependent on the Utility Services;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS;
THAT from hence on, the City Council will protect the Utility Enterprise's
fiscal integrity by assuring that:
1) each service provided by the Utility Enterprise stand alone with
respect to the revenues raised and expenses incurred; and
2) no individual Utility Service will be subsidized by funds from
another service or taxes; and
3) capital reserves will be generated through the service rates and
will be restricted to system improvements; and
4) the rates for the various services will be designed to support this
philosophy.
THAT the City Council directs the staff to prepare rate proposals and
implementation plan recommendations prior to the adoption of the 1987/88
budget.
PASSED AND APPROVED this 26th day of May, 1987, by the City Council of the
City of Georgetown, Texas convened in regular session with lawful quorum
present.
Jim Colbert, Mayor
ATTEST:
Pat Caballero, City Secretary
utility rate philosophy resolution (faf 87util.res) page 1 of 1