HomeMy WebLinkAboutAgenda Report - November 6, 1996 (70)� r
CITY OF LODI COUNCIL COMMUNICATION
AGENDA TITLE: FY1995-96 Bulk Purchased Power Budget Credit
MEETING DATE: November 6, 1996
SUBMITTED BY: Electric Utility Director
RECOMMENDED ACTION: That the City Council approve the use funds in the amount of $807,271 from
the Northern California Power Agency (NCPA) Phase IIA Resource
Development Fund as a credit against FY1995-96 Bulk Purchased Power
expenses.
BACKGROUND: Initially, use of funds resulting from the NCPA FY1994-95 Budget
Settlements was incorporated in the development of the Electric Utility
Department FY1995-96 Budget. The above amount was temporarily placed
in the NCPA General Operating Reserve (GOR).
It is now recommended that the NCPA Phase IIA Resource Development fund be used instead, and the
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settlement proceeds be left in the GOR. With few needs for new electric resource development for the next
several years, the NCPA Phase IIA Resource Development Fund is disproportionally large.
After the NCPA FY1995-96 Budget Settlements, future settlements are expected to be much smaller due to use
of less conservative budget estimates as directed by the NCPA Commission.
FUNDING: NCPA Phase IIA Resource Development Fund
Alan N. Vallow
Electric Utility Director
Prepared by
ANVIJS1pn
cc: City Attorney
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APPROVED
H. Dixon Flynn
CITY MANAGER
October 30, 1996