Title
Adoption of Water and Sewer Funds - 2006 Budget (500's)
Body
Whereas, in accordance with the provisions of Public Act 2 of 1968, Public Act 621 of 1978, the Uniform Budgeting and Accounting Act for Local Government, and the Charter for the City of Rochester Hills, Chapter III, Section 3.2, the Mayor as the Chief Executive Officer shall prepare the budget proposal for the ensuing year and shall submit it to the Council at its first meeting in August; and
Whereas, at its August 3, 2005 meeting City Council acknowledged receipt from the Mayor of the Proposed 2006 Budget Plan and set a Public Hearing to be held September 7, 2005 at 7:30 p.m. to hear comments on the Proposed Budget Plan; and
Whereas, at its June 15, 2005 meeting City Council adopted Water and Sewer rates in accordance with Sections 54-741 through 54-745 of Article XII, Utilities, of Chapter 54, Fees, of the Code of Ordinances of the City of Rochester Hills, to Modify Water and Sewer Rates and Fees, repeal conflicting ordinances, and prescribe a penalty for violations to provide the revenues included in the 2006 Budget.
Resolved, that the City Council of the City of Rochester Hills hereby adopts the Water and Sewer - Operating Fund Budget for Fiscal Year 2006 as follows:
Fund 592 - Water and Sewer - Operating Fund:
Retained Earnings $4,145,230
License & Permits 63,400
Charges for Service 25,861,130
Fines & Forfeitures 85,000
Interest Earnings 320,000
Other Revenue 5,000
Bond Proceeds 19,921,880
Total...
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