Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
BILL NO. 19-750Res.No:          6443

Agenda Title:

19-750 - A resolution directing the City Manager to develop a municipal facilities electric utility rate and authorizing a credit for municipal facilities in the amount of $666,655 for Fiscal Year 2019-20 pending development and adoption of the new rate schedule.
Recommendations:

Staff recommends approval of the proposed resolution.
Background:

IPL is currently in the process of a cost of service and electric rate study. As a part of this study, it has been determined that a new municipal facilities electric rate is advisable. Since the new municipal rate will not be developed prior to the beginning of Fiscal Year 2019-2020, it is recommended that a credit be provided for municipal facilities in the amount $666,655. City staff will then complete the development of a new municipal electric rate schedule for future years that will become effective as of July 1, 2020.



Fiscal Impact:

This new rate will have the following savings for the following funds:

-General Fund: $443,400

-Parks Sales Tax: $175,605

-Tourism Fund: $19,000

-Police Public Safety Sales Tax: $19,700

-Fire Public Safety Sales Tax: $8,950

 

 

 





Department:          City Manager's OfficeContact Person:          Zach Walker


REVIEWERS:
DepartmentAction
Power and Light DepartmentApproved
Finance DepartmentApproved
Law DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved

Council Action:          Council Action:         

ATTACHMENTS:
DescriptionType
ResolutionResolution