Title
A Resolution Setting the Street Lighting Service Revenue Requirement for the Period of January 1, 2019 through December 31, 2019
Presenter:
Tamela Monroe, Chief Planning and Finance Officer
Aram Benyamin, Chief Executive Officer
Body
Summary:
Colorado Springs Utilities requests City Council to set the Street Lighting Revenue Requirement for the provision of street lighting services from January 1, 2019 through December 31, 2019 in the amount of four million, seventy-five thousand dollars ($4,075,000).
Previous Council Action:
City Council set the Street Lighting Revenue Requirement for the period of January 1, 2018 through December 31, 2018 with Resolution No. 131-17 dated November 28, 2017.
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. Colorado Springs City Code ? 12.9.103 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, City Code ? 12.9.105 requires Colorado Springs Utilities to annually prepare a revenue requirement for the provision of street lighting service setting forth the amount that must be recovered for the provision of street lighting service pursuant to City Code ? 12.9.103.
Financial Implications:
Colorado Springs Utilities performed analysis of the Street Lighting Service Revenue Requirement and determined an amount of four million, seventy-five thousand dollars ($4,075,000) is required to recover expenditures for the provision of street lighting services from January 1, 2019 through December 31, 2019.
Board/Commission Recommendation:
N/A
Stakeholder Process:
The proposed Street Lighting Service Revenue Requirement amount was provided to the City in August 2018.
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