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File #: 2014-0168    Version: 1
Type: Ordinance Status: Passed
File created: 5/5/2014 In control: Budget and Fiscal Management Committee
On agenda: 6/2/2014 Final action: 6/2/2014
Enactment date: 6/5/2014 Enactment #: 17825
Title: AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2015, and ending December 31, 2015; setting the sewer rate for the fiscal year beginning January 1, 2015, and ending December 31, 2015, and approving the amount of the sewage treatment capacity charge for 2015, in accordance with RCW 35.58.570; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100 and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
Sponsors: Joe McDermott
Indexes: Sewage
Code sections: 28.84.055 - , 4A.670.100 - .
Attachments: 1. Ordinance 17825.pdf, 2. 2014-0168 Legislative Review Form.pdf, 3. A. Wastewater Treatment Division Financial Plan for the 2015 Proposed Sewer Rate, 4. 2014-0168 Fiscal Note.xlsx, 5. 2014-0168 MWPAAC Letter dated March 28, 2014, 6. 2014-0168 Proposal.docx, 7. 2014-0168 Transmittal Letter.docx, 8. Staff Report Proposed Ordinance 2014-0168 Sewer rate for 2015, 9. 2014-0168 MWPAAC Letter Dated May 1, 2014, 10. 2014-0168 hearing notice /Seattle Times - re monetary requirements-disposal of sewage.doc, 11. Staff Report Proposed Ordinance 2014-0168 Sewer Rate for 2015 dated May 20, 2014, 12. 2014-0168 Affidavit of Publication - Seattle Tiimes 5-21-14.pdf
Staff: Mountsier, Beth
Drafter
Clerk 04/24/2014
title
AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2015, and ending December 31, 2015; setting the sewer rate for the fiscal year beginning January 1, 2015, and ending December 31, 2015, and approving the amount of the sewage treatment capacity charge for 2015, in accordance with RCW 35.58.570; and amending Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100 and Ordinance 11398, Section 1, as amended, and K.C.C. 28.84.055.
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BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
SECTION 1. Ordinance 12353, Section 2, as amended, and K.C.C. 4A.670.100 are each hereby amended to read as follows:
A. Having determined the monetary requirements for the disposal of sewage, the council hereby adopts a ((2014)) 2015 sewer rate of ((thirty-nine dollars and seventy-nine)) forty-two dollars and three cents per residential customer equivalent per month. Once a sewer rate ordinance becomes effective, the clerk of the council is directed to deliver a copy of that ordinance to each agency having an agreement for sewage disposal with King County.
B. The King County council approves the application of Statement of Financial Accounting Standards No. 71 (FAS 71) to treat pollution remediation obligations and RainWise Program expenditures as regulatory assets, and establish a rate stabilization reserve for the purpose of leveling rates between years.
C. As required for FAS 71 application, amounts are to be placed in the rate stabilization reserve from operating revenues and removed from the calculation of debt service coverage. The reserve balance shall be an amount at least sufficient to maintain a level sewer rate between ((2013)) 2015 and ((2014)) 2016, and shall be used solely for the purposes of: maintaining the level sewer rate in ((2014)) 2016; and if additional reserve balance is available, moderating future rate increases beyond ((2014)) 2016. The e...

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