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HomeMy WebLinkAbout1998-04-27 98-189 RESOLVE—.__—COUNCILACTION- _—.— ___ Item No._ge_tgq— Date: 0.27498 Item/Subject: RESOLVE, Making an Appropriation of Certain Unanticipated Revenues to the General Fund's Improvement Raservs -FERC Performance Credits and Motor Truck and Transport Settlement Responsible Department: City Manager Commentary: During this fiscal year, the City hes received certain unanticipated neonates from the settlement of the Motor Trua and Transport excise case and performance credits received from the PERC plant. It has been our normal practice to designate our PERC performance credits to the General Funds Improvement Reserve. This year, the rebate will be in the moment of $171,728.46. In addition, the Motor Truck Case resulted in the City receiving $106,611.07 in excise fees from prior years I would recommend that them funds also be appropriated m the improvement Reserve. On an annual basis, the Improvement Reserve is used to purchase capital items and undertake major maintmmnce projects on Cityfacilities. By using this reserve, these items can be funded without the need to raise additional tax dollam. The proposed FY99 budget recommendations on capital purchases and major maintenance is predicated on the availability of these funds. r Maoager'e Cammenb: I Millal�(��usf°a`� City Manager Associated Information; Resolve Budget Approval AW Finance Director Legal Approval: City 80 t Introduced for ,__Passage x First Reading Page— of— x Referral to Finance Committee, 54-98 at 5 pm Assigned to Councilor Baldacci April 27, 1998 CITY OF BANGOR (TITLE)QSpIt1Qt.._h!.@.RII!&aR Appropriation of Certa.In U�anUe<pated Revenueetothe General Fund's Improvement Reserve-PERC Performance Credits and Motor Truck and By Go Cup Com eil of Bu City ofBanpar: B LVED, the Motor Track and Transport settlement in the amount of $106,61 L09 and the PERC performmse rebate in the amount of $171,728.46 are hereby appropriated to the General Fund's Improvement Reserve. IN CITY COUNCIL April 27, 1998 First Reading Referred to Finance Committee CI LEEK I IN CITY COUNCIL May ll, 1998 Passed CIYY RK 98-189 E E S 0 L V E Making an Appropriation of Certain Unanticipated Revenues to the Gen- eral Fund's Improvement Reserve - PERC Perfoe a Credits and Motor Truck d Tianapo[C Ee[t �. a. r3