FISCAL NOTE FOR NON-CAPITAL PROJECTS

Department:	Contact Person/Phone:	DOF Analyst/Phone:
Seattle City Light	Celia Grether (386-4588)	Thomas Dunlap (386-9120)

Legislation Title:

A RESOLUTION approving the proposed budget of the Skagit Environmental Endowment Commission for fiscal year 2005.

· Summary of the Legislation: This Resolution describes the planned use of the Endowment Fund between April 1, 2005 and March 31, 2006. Similar Resolutions are presented to the Council on an annual basis.

· Background: The Skagit Environmental Endowment Commission’s (SEEC) budget is supported by an Endowment Fund funded by Seattle City Light and BC Hydro during the period 1985-88, as a result of the 1984 High Ross Treaty. The Treaty requires Seattle City Light to supplement the fund by an annual, inflation-adjusted payment based on a fixed amount of power purchase.

In 2004-2005 the payment was $105,415.08. A Briefing Paper regarding SEEC’s 2005 budget (Attachment 1) and 2004 Annual Report (Attachment 2) are attached to this fiscal note for informational purposes.

· Please check one of the following:

___X_ This legislation does not have any financial implications.

Attachment 1: Briefing Paper for Skagit Environmental Endowment Commission 2005 Budget

Attachment 2: 2004 Annual Report Skagit Environmental Endowment Commission