File #: 2013-0217    Version: 1
Type: Ordinance Status: Passed
File created: 5/6/2013 In control: Budget and Fiscal Management Committee
On agenda: 6/10/2013 Final action: 6/10/2013
Enactment date: 6/12/2013 Enactment #: 17606
Title: AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2014, and ending December 31, 2014, setting the sewer rate for the fiscal year beginning January 1, 2014, and ending December 31, 2014, and approving the amount of the sewage treatment capacity charge for 2014, 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, Larry Phillips
Indexes: Sewage
Code sections: 28.84.055 - , 4A.670.100 - .
Attachments: 1. Ordinance 17606.pdf, 2. A. Wastewater Treatment Division Financial Plan for the 2014 Proposed Sewer Rate, 3. A. Wastewater Treatment Division Financial Plan for the 2014 Proposed Sewer Rate, 4. 2013-0217 Fiscal Note.xlsx, 5. 2013-0217 transmittal letter.docx, 6. 2013-0217 Sewer Rate Ord_MWPAAC Ltr to Exec.pdf, 7. 2013-0217 WTD 2014 Sewer Rate Proposal.docx, 8. 05-21-13 Staff report with attachments, 9. 06-04-13 Staff Report, 10. 2013-0217 Seattle Times Affidavit of Publication.pdf, 11. 2013-0217 hearing notice.doc
Staff: Mountsier, Beth
Drafter
Clerk 04/25/2013
title
AN ORDINANCE determining the monetary requirements for the disposal of sewage for the fiscal year beginning January 1, 2014, and ending December 31, 2014, setting the sewer rate for the fiscal year beginning January 1, 2014, and ending December 31, 2014, and approving the amount of the sewage treatment capacity charge for 2014, 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 ((2013)) 2014 sewer rate of thirty-nine dollars and seventy-nine 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 and 2014, and shall be used solely for the purposes of: maintaining the level sewer rate in 2014; and if additional reserve balance is available, moderating future rate increases beyond 2014. The estimated amount of the reserve, as shown in the financial forecast, Attachmen...

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