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<br />Memorandum to Mayor and City Council <br />Re: 2008 Proposed Budget and Utility Rates <br />November 19, 2007 <br />Page 2 of2 <br /> <br />the current proposed rates and then do a "mid-year" rate adjustment once the study is completed. <br />Much of the information that will be used for the rate study will also be used for the resource <br />plan for TCAAP, so the Financial Model and the Rate Study will be based on the current budget <br />and then worked into the Resource Plan. I am confident that there are accurate numbers from <br />which to complete these models/studies and have discussions with the Council. <br /> <br />For purposes of discussion on Monday night, staff proposes a review of the Policy <br />Considerations that are listed in the attached memo. I will bring supporting documentation and <br />analysis with to the meeting to answer questions on the senior discount and what other cities are <br />doing with connection fees. Staff can proceed with preparation of the Model and the Study <br />based on Council direction. <br /> <br />CIP <br />Included in the 2008 Budget document is the proposed five-year CIP. The plan as presented has <br />been incorporated into the 2008 Budget. Staff will have additional information supporting these <br />items at the workshop. <br /> <br />DIRECTION REQUESTED <br /> <br />1. Provide staff with input and feedback regarding the 2008 Budget. <br />2. Provide staff with input and feedback concerning policy considerations for the utility <br />funds. <br />3. Provide staff with input and feedback regarding the 2008 - 2012 CIP. <br />