Chapter 4.100 — POWER DIVISION GENERAL FUND TRANSFER

For purposes of this chapter, certain terms used herein are defined as follows:

A.

"Accrual year" means the fiscal year in which money is accrued for transfer to the general fund in the immediately following fiscal year, as provided in this chapter.

B.

"Annual gross electric retail income" means the total annual billed retail operating revenue, net of provision for uncollectible accounts, from the furnishing and delivery of electric energy to retail customers of the power division at rates and charges fixed by ordinance. Annual gross electric retail income shall not include revenues from wholesale power transactions, rate stabilization fund transfers to the operating fund, interest earnings and other nonoperating income, proceeds from the sale of power division assets or bond issues and contributions in aid of construction.

(Ord. No. 7424, § 1, 6-3-2024; Ord. 6378, § 1, 1990)

The maximum aggregate amount available for transfer pursuant to Section 1408 of the City Charter from the light and power fund to the general fund shall be calculated by multiplying the annual gross electric retail income by 12 percent. The city council shall transfer such amount by resolution transfer. Notwithstanding the foregoing, the city council may transfer an amount other than 12 percent by resolution if it determines that it would not be detrimental to the functioning and administration of the power utility during the budget year under consideration.

(Ord. No. 7424, § 2, 6-3-2024; Ord. No. 7412, § 1, 5-15-2023; Ord. 6754 § 1, 1998: Ord. 6378 § 1 (part), 1990)

Calculation of the transfer amount pursuant to this chapter shall be based on data derived from the accounting records of the power division.

(Ord. 6378 § 1 (part), 1990)

All transfers made pursuant to this chapter shall be subject to the provisions of Article XIV of the city charter and shall in no event exceed the amount specified therein.

(Ord. 6378 § 1 (part), 1990)