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San Angelo City Council November 6, 2012 Water Rebate

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San Angelo City Council November 6, 2012 Water Rebate

  1. 1. Water RebateDiscussion
  2. 2. Water RebateOrdinance:During the months of April and November of each year, the city council shall review the financial condition of the water operations fund and determine whether a rebate to water customers is appropriate. If a rebate is determined to be appropriate, such rebate shall be accomplished in May and December or as soon thereafter as practical. The amounts and methodology for providing the rebate shall be determined by the city council.
  3. 3. Water RebateSince inception Council has used this discussion to initiate action twice• Rebates granted – base fees were waived (changed to zero) for two months• Capital projects funding – excess fund balance was transferred to a capital projects fund to assist in paying for needed improvements
  4. 4. Water Rebate• Estimated fund balance 9/30/2012 $ 4,858,067• 75 day goal fund balance 4,920,542• Staff recommends no action at this time

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