12/19/1979 - Laserfiche WebLink

Home Browse Search

MR. COOLEY NOTED THAT RIGHT NOW ALL REVENUES GO INTO A SINGLE FUND AND ARE DISTRIBUTED FOR MONTH TO MONTH OPERATING EX- PENSES AND HE ASSUMED AT THE END OF THE YEAR THAT IS DISTRIBU- TED INTO THE VARIOUS RESERVE FUNDS. THEY FEEL THIS SHOULD BE DONE ON A MONTHLY BASIS. COMMISSIONER SIEBERT INQUIRED ABOUT OUR ABILITY TO INVEST THOSE FUNDS, AND MR. COOLEY STATED THAT THEY CAN BE INVESTED. SUR- PLUSES ARE AVAILABLE FROM THE MONTHLY OPERATIONS. (3) AN ADDITIONAL $50,000 SHOULD BE CONTRIBUTED TO THE RENEWAL AND REPLACEMENT FUND FROM THE FISCAL YEAR 1979 BUDGET. MR. COOLEY NOTED THAT THE BOND REQUIRED 10%, AND THE FUND IS TO BE BUILT UP OVER A PERIOD OF YEARS TO A CERTAIN LEVEL. DURING THE PAST YEAR, THERE WAS ONE UNEXPECTED EQUIPMENT PURCHASE REQUIRED, AND SOME OF THE R & R FUNDS WERE USED TO PAY FOR THIS TRACTOR. SINCE THE FIRST YEAR OF OPERATION WAS SUCCESSFUL, THEY RECOMMEND THAT $50,000 BE CONTRIBUTED TO THE R & R FUND TO BRING IT UP TO THE LEVEL THEY FEEL IT SHOULD BE AT THIS TIME. (4) THEY RECOMMEND MAKING ANNUAL CONTRIBUTIONS TO THE R & R FUND IN THE AMOUNT OF 10% OF THE PREVIOUS YEAR'S GROSS LANDFILL REVENUES TO ESTABLISH AND MAINTAIN A FUND BALANCE OF $200,000. WHEN THIS AMOUNT IS REACHED, THEN THE 10% CAN BE DISTRIBUTED. (5) THE LANDFILL IS BEING DEVELOPED IN FOUR SEGMENTS; THE PREPARA- TION OF THE FIRST SEGMENT HAS BEEN VIRTUALLY COMPLETED. IT WILL BE NECESSARY TO MOVE IMMEDIATELY INTO SEGMENT #2, AND FUNDS SHOULD BE SET ASIDE IN THE CONSTRUCTION RESERVE FUND FOR THAT PURPOSE. THEY ARE FORECASTING 1985 FOR MOVING INTO SEGMENT #2 AND RECOMMEND $37,000 PER YEAR AS AN ADEQUATE AMOUNT FOR THE RESERVE FUND. (6) THE NEXT RECOMMENDATION IS TO ESTABLISH A NEW CATEGORY OF WASTE. THE INTERIM RATE SCHEDULE PROPOSED SIX OR SEVEN CATEGORIES DEPENDING ON THE TYPE OF WASTE AND ANTICIPATED COST OF DISPOSING OF THAT CERTAIN TYPE. CONTRACTORS COMPLAINED 27 DEC 191979 BOOK 44 _PAc€331