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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