Title
A Resolution Setting the Street Lighting Service Revenue Requirement for the Period of January 1, 2016 Through December 31, 2016
Body
From:
Jerry Forte, P.E., CEO, Colorado Springs Utilities
Summary:
Colorado Springs Utilities requests City Council to set the Street Lighting Revenue Requirement for the provision of street lighting services from January 1, 2016 through December 31, 2016 in the amount of four million, one hundred twenty-nine thousand dollars ($4,129,000).
Previous Council Action:
By Resolution No. 115-14 dated November 25, 2014, City Council set the Street Lighting Revenue Requirement for the period of January 1, 2015 through December 31, 2015.
Background:
The street lighting infrastructure operated by Colorado Springs Utilities within the City of Colorado Springs (City) is part of the system of utilities owned and operated for the convenience and necessity of the citizens of the City. Section 12.9.103 of the City Code authorizes Colorado Springs Utilities to assess and collect a street lighting service charge from the Municipal Government of the City for the provision of street lighting services. Additionally, section 12.9.105 of the City Code requires Colorado Springs Utilities to prepare a Street Lighting Service Revenue Requirement setting the amount that must be recovered for the provision of street lighting services. Colorado Springs Utilities performed an analysis of the Street Lighting Service Revenue Requirement and determined that the amount that must be recovered for the provision of street lighting services from January 1, 2016 through December 31, 2016 is four million, one hundred twenty-nine thousand dollars ($4,129,000).
Financial Implications:
Colorado Springs Utilities will receive revenues equal to its calculated revenue requirements.
Board/Commission Recommendation:
Colorado Springs Utilities recommends the adoption of the attached resolution setting the street lighting ...
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