[Ord. No. 1233-20, 5-11-2020; Ord. No. 1245-20, 8-24-2020]
A. To
reimburse the costs incurred by the General Fund in support of the
Electric, Water and Wastewater Departments, there will be transferred
to the General Fund from the Electric, Water and Wastewater Funds
an amount equal to eight percent (8%) of the gross receipts by such
funds derived from all sales of electric, water and wastewater utility
services, subject to the following modifications and exclusions:
1. All sales to Missouri Public Energy Pool (MoPEP) are excluded.
2. Wholesale sales of utilities are excluded.
3. Interdepartmental sales to departments of the City are excluded.
4. Miscellaneous non-recurring sales (for example, payment for a damaged
light pole) are excluded.
B. All
funds shall be transferred in monthly installments within thirty (30)
days after the end of each month.
C. The
funds transferred shall be distributed to the General Fund of the
City and then allocated to the departments pursuant to the adopted
budget of the City.
D. The
fund transfer amount percentage represent the City's best determination
of the total costs of services and personnel by the City departments
other than the Electric, Water and Wastewater Departments supporting
the operation and administration of the Electric, Water and Wastewater
Departments including but not limited to costs for the maintenance
and use of City streets, rights-of-way, and other City property for
utility purposes, the cost of providing police protection for the
utility facilities, the costs of providing fire protection, administrative
costs for selection and maintenance of an insurance program and employee
benefits programs.
E. The
City will furnish annually accounting of the expenses that make up
the eight percent (8%) expense transfer. This will allow for an accounting
adjustment.
F. The
interfund transfer will be reduced or eliminated in any year there
are not enough funds in the Enterprise Fund to make the required bond
and reserve payments for as long as the bond is in place.