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Payment Authorization To Procure America For <br />Electrical Utility Cost Reduction Services <br />December 20, 2016 <br />Page 3 <br />adjust rates as applicable. The cost saving is the difference between the higher electric bill under <br />the old rate and the lower electric bill under the new rate. Since savings are used to compensate <br />Procure America, City staff verifies reported savings by reviewing relevant SCE electric bills and <br />other documents using an audit procedure that has been vetted by the City's Finance <br />Department before payments to Procure America are approved. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports Strategic Plan Goal #4 - City Financial Stability, Objective 3 <br />(Maintain a structurally balanced budget with appropriate reserve levels), and Strategy 3D <br />(Establish a committee of City staff to explore innovative revenue and cost recovery strategies). <br />FISCAL IMPACT <br />Funds are budgeted and available in fiscal year 2016-17 in the following account: <br />Parks, Recreation and Community Services Park Maintenance 01113250-62000 $15,078.99 <br />APPROVED AS TO FUNDS AND <br />ACCOUNTS: <br />Gerardo Mouet Francisco Gutierrez <br />Executive Director Executive Director <br />Parks, Recreation and Community Finance and Management Services <br />Agency Services <br />JA/WN <br />Exhibits: 1. Payment Distribution 11/30/16 for Invoice #6-1603b <br />29A-3 <br />