City of Colorado Springs
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File #: 19-666    Version: Name:
Type: Ordinance Status: Mayor's Office
File created: 10/18/2019 In control: City Council
On agenda: 11/12/2019 Final action: 11/12/2019
Title: Ordinance No. 19-79 Identifying and Accepting the Annual Sources of Funds for Colorado Springs Utilities for the Year Ending December 31, 2020 Presenter: Scott Shewey, Acting Chief Planning and Finance Officer Aram Benyamin, Chief Executive Officer
Attachments: 1. 2020 Annual Source Funds Ord, 2. Signed Ordinance 19-79.pdf

 

Title

Ordinance No. 19-79 Identifying and Accepting the Annual Sources of Funds for Colorado Springs Utilities for the Year Ending December 31, 2020

 

  Presenter: 

Scott Shewey, Acting Chief Planning and Finance Officer
Aram Benyamin, Chief Executive Officer

 

Body

  Summary:

Colorado Springs Utilities requests consideration and approval of its calendar year 2020 Annual Sources of Funds. 

 

  Background: 

As part of the yearly budget process, City Council must approve the annual sources of funds for Colorado Springs Utilities for the following calendar year.  The amount of money necessary to fund Colorado Springs Utilities’ operation, taking into account the amounts available from other sources to meet the expenses of Colorado Springs Utilities for the ensuing year, is the sum of $974,064,686

  Previous Council Action:

Each year, City Council evaluates and approves the annual sources of funds for Colorado Springs Utilities for the following calendar year.

  Financial Implications:

Colorado Springs Utilities 2020 Annual Budget.

 

  City Council Appointed Board/Commission/Committee Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

N/A

 

Recommended Action

  Proposed Motion:

Move approval of the proposed ordinance.

 

Summary of Ordinance Language

The amount of money necessary to fund Colorado Springs Utilities’ operation, taking into account the amounts available from other sources to meet the expenses of Colorado Springs Utilities for the ensuing year, is the sum of $974,064,686