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Page 2 <br />AMP Pre -Commencement Budget <br />For City Council Meeting of March 18, 2003 <br />The current budget has enough savings in it that an addition appropriation is not necessary at this time. <br />The Pasadena contract terminated as of December, 2002. That had savings of approximately $636,000. <br />In addition, the Utility was prepaying Palo Verde expenses to SCPPA. Those payments also ended in <br />December. That resulted in additional savings of $648,000. These two items had budget surpluses of <br />$1,284,000. The balance of the necessary funds to cover the pre -commencement bubget will come from <br />savings in the power supply budget for Economy Energy purchases. There are more that sufficient funds <br />in that account to cover the gas purchases, even if the prices exceed those anticipated. <br />ENVIRONMENTAL IMPACT <br />All of the environmental impacts have previously been addressed in the CEQA hearings conducted by the <br />City Planning Commission and the City Council. <br />That the City Council approve the Pre -Commencement Operating Budget as submitted by Noresco for the <br />Agua Mansa Power Plant in the amount of $1,057,785. <br />City Man <br />Finance <br />ager City AttorneykL.�+ " <br />Director Other <br />