Title
Ordinance No. 18-109 Approving the Annual Budget for Colorado Springs Utilities and Appropriating Monies for the Several Purposes Named in the Annual Colorado Springs Utilities Budget for the Year Ending December 31, 2019
Presenter:
Tamela Monroe, Chief Planning and Finance Officer
Aram Benyamin, Chief Executive Officer
Body
Summary:
Colorado Springs Utilities requests approval of the annual budget for Colorado Springs Utilities and the appropriation of funds for several purposes named in the annual budget for the year ending December 31, 2019.
Previous Council Action:
Each year, City Council evaluates and approves a budget for Colorado Springs Utilities for the following calendar year.
Background:
As part of the yearly budget process, City Council must approve the annual budget for Colorado Springs Utilities and appropriate funds for Colorado Springs Utilities’ purposes for the following calendar year. Colorado Springs Utilities requests that City Council adopt the budget for Colorado Springs Utilities to be appropriated out of the revenues and fund balance of Colorado Springs Utilities for the year ending December 31, 2019 in the amount of $936,536,015 to meet the expenses of Colorado Springs Utilities for that year.
Financial Implications:
Colorado Springs Utilities 2019 Annual Budget.
Board/Commission Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move approval of the proposed ordinance.
Summary of Ordinance Language
NCity Council must approve the annual budget for Colorado Springs Utilities and appropriate
funds for Colorado Springs Utilities’ purposes for the following calendar year. Colorado
Springs Utilities requests that City Council adopt the budget for Colorado Springs Utilities to
be appropriated out of the revenues and fund balance of Colorado Springs Utilities for the
year ending December 31, 2019 in the amount of $936,536,015 to meet the expenses of
Colorado Springs Utilities for that year.