HomeMy WebLinkAboutResolution_15-15_03/12/2015 RESOLUTION NO. 15-15
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, INCREASING THE FISCAL YEAR 2014/2015
WATER UTILITY FUND #401 BUDGET BY $34,000.00;
APPROPRIATING FUND BALANCE, INCREASING EXPENDITURES
TO FUND A RATE STUDY IN THAT AMOUNT AND APPROVING A
CONTRACT WITH THE VILLAGE'S RATE SPECIALIST, PUBLIC
RESOURCES MANAGEMENT GROUP, INC. IN THAT AMOUNT TO
PREPARE A UTILITY REVENUE SUFFICIENCY AND RATE
ADEQUACY STUDY; PROVIDING FOR SEVERABILITY; PROVIDING
AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
WHEREAS, the Village recognizes the need to perform a Utility Revenue Sufficiency
and Rate Adequacy Study, and;
WHEREAS, the rate study will include
• the preparation of a financial forecast to evaluate the current near -term position
of such system,
• the development of a prospective financing plan to fund the Water system
capital improvement program and projected expenditure requirements,
• and the evaluation of the overall sufficiency of the rate revenues to meet the
Village objectives for sustained utility service, and;
WHEREAS, an appropriation of Fund Balance is required to fund this project;
WHEREAS, the following budgeted accounts will be increased:
Revenues:
Appropriate Fund Balance, #401- 990 - 399.999 $34,000.00
Expenditures:
Other Contractual Services, #401- 241 - 534.300 $34,000.00
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1 The Village Council hereby adopts Resolution 15 -15 increasing the fiscal
year 2014/2015 Water Utility Fund #401 Budget by $34,000.00, and appropriating Fund
Balance, increasing expenditures and approving a contract with Public Resources
Management Group, Inc. in that amount.
Section 2 This Resolution shall become effective immediately upon passage.
RESOLUTION
15 -15
MOTION SECOND
Council Member Steve Okun Council Member Frank D'Ambra
VOTE
FOR ADOPTION AGAINST ADOPTION
Mayor Abby Brennan 0 13
Vice -Mayor Vince Arena 0 13
Council Member Steve Okun 0
Council Member Tom Paterno 0
Council Member Frank D'Ambra 0
The Mayor thereupon declared the Resolution duly passed and adopted on 03 -12 -2015
MAYOR OF TEQUESTA
Abigai e
ATTEST:
(a OF
p RPO
Lori McWilliams, MMC = ANC
Village Clerk W . o9Pp
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