|City of Independence|
|AGENDA ITEM COVER SHEET|
|BILL NO. 19-750||Res.No: 6443|
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.
Staff recommends approval of the proposed resolution.
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.
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 Office||Contact Person: Zach Walker|
|Power and Light Department||Approved|
|City Managers Office||Approved|
|City Clerk Department||Approved|
|Council Action: ||Council Action: |