(A) There is hereby established a gas cost adjustment tracking factor (GCA) occasioned solely by the changes in the cost of purchased gas not embedded in the base cost of gas, to be applied to the monthly metered volume rate for each gas customer classification. The GCA shall be determined monthly, to reflect changes in the estimated cost of purchased gas for the following month, and to reconcile over- or under-collections of the cost of purchased gas for the previous month. The GCA shall be determined and calculated monthly in accordance with the formula set forth by the city.
(B) Annually, as of May 31 of each year, the GCA shall be adjusted to reconcile actual over- collections or under-collections of the cost of purchased gas in variance with the base cost of gas and occasioned by the application of the GCA during the immediately preceding 12 months. The reconciliation shall include determination of the actual cost of gas to be recovered, including any prior period variance reconciliation adjustments, and comparison of said annual purchased gas costs with actual gas cost revenues. Gas cost revenues shall include the actual monthly GCA revenue plus the base cost of gas embedded in the base rates and charges. The annual reconciliation shall be determined and calculated in accordance with the formula set forth by the city.
(C) The GCA and the data and calculations used to determine May 27, 2008and reconcile the same shall be kept on file and available for public inspection during normal business hours in the office of the Clerk-Treasurer.
(`90 Code, § 13.24.040) (Ord. 89-30, passed - -; Am. Ord. 2000-31, passed 10-12-2000; Am. Ord. 2000-40, passed 12-28-2000; Am. Ord. 2006-43, passed 11-16-2006)