HomeMy WebLinkAboutReso 93-133 - Adopt a Time-Schedule for the Electric Utility annual budget and rate review process 1
I
RESOLUTION NO.
'I
I
!j A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
!j ADOPTING A TIME-SCHEDULE FOR THE ELECTRIC UTILITY ANNUAL
BUDGET AND RATE REVIEW PROCESS.
WHEREAS, because of the uncertainty that exists in the electric
utility industry coincident with the City' s budget-preparation process,
due primarily to unknown hydroelectric generation availability for the
upcoming summer months, the City' s power-production costs are not well
established at the time the City Council adopts its budget; and
WHEREAS, the proposed Electric Utility Annual Budget and Rate
Review Process presented by staff recognizes this fact, and retains the
optimum timing for the annual Electric Utility rate-review process, in
addition to providing a Council-adopted rate adjustment percentage to
be used in the upcoming budget process; and
WHEREAS, it is the recommendation of the Electric Department. that
the City Council approve the proposed time-schedule in order to
establish ( 1) the
� process for determining an annualrate adjustment and
( 2) a forecasted rate adjustment percentage to be used in the next
annual budget review process for the City' s Electric Utility;
IT IS, THEREFORE, RESOLVED that the City Council of the City of
Redding hereby adopts the attached time-schedule for the purposes of
!I the Electric Utility Annual Budget and Rate Review Process.
I HEREBY CERTIFY that the foregoing Resolution was. introduced and.
read at an re °u ar meeting of the City Council of the City of Redding on
the 26th day of April , 1993, and was duly adopted at said meeting by the
following vote:
I
AYES: COUNCIL MEMBERS: Dahl, Kehoe, n-,ss and Arness
NOES: COUNCIL MEMBERS: Anderson
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
I
Mayor, CARL ARNESS
City of Redding
A ST: FORM PROVED:
I �
CONNIE STROHMAYER, ty Clerk RANDALL A. HAYi,' City Attorney
d
1
CITY OF REDDING
i ELECTRIC UTILITY
ANNUAL BUDGET & RATE REVIEW PROCESS
This Annual Budget and Rate Review Process adopted by the Redding
City Council April 20 , 1993 establishes the process for determining
an annual rate adjustment and establishing a forecasted rate
adjustment percentage to be used in the next annual budget review
process for the City' s Electric Utility.
October-November:
City Council review and action to confirm or modify the rate
adjustment included in budget review process for the current fiscal
year and to adopt a forecasted rate adjustment percentage to be
used in the upcoming Electric Utility budget review process.
January-June:
Staff develops the proposed Electric Utility budget using the
forecasted rate adjustment adopted by the City Council during the
prior October-November Electric Utility rate review process.
June-July:
City Council review and action to adopt the City budget. ( Includes
the forecasted rate adjustment percentage established by Council
during the prior October-November Electric Utility rate review. )
August-October:
The Electric Utility Commission and staff conduct the annual rate
review process including a public hearing to produce a
recommendation for Council' s upcoming October-November review and
action. (Council action to confirm or modify the rate adjustment
established in budget review process for current fiscal year and
adopt a forecasted rate adjustment percentage to be used for the
upcoming budget review process. )