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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of October 2, 1990 <br />TO: Honorable Mayor and City Council .11 <br />FROM: Gale A. Drews, Electric Utility Director <br />SUBJECT: SOUTHERN CALIFORNIA EDISON REFUNDS Date: <br />September 19, 199 <br />BACKGROUND The City received a check in the amount of $327,136.78 <br />from Edison for past over -charges, plus interest. <br />STATEMENT OF THE PROBLEM <br />N/A <br />ALTERNATIVES <br />N/A <br />FINANCIAL IMPACT <br />The funds would be used to defray a portion of future rate increases. <br />ENVIRONMENTAL IMPACT <br />N/A <br />RECCIMMENDATION It is Staff's recommendation that the refund monies be <br />set aside, in the existing interest-bearing account containing <br />previous refunds, to be used for purchased power costs. These funds <br />are being used to help defer increasing electrical rates. <br />City Manager' s Concurrence: <br />Edmund Sotelo <br />Attachments: <br />Page t of___.1_ <br />Item No_ _,L— <br />ORIGINAC' <br />cENTMII RECORDS <br />iA® - .................. <br />