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D~:djk 08/31/87R <br /> <br /> as of September 30, 1989, then the balancing account <br /> shall be deemed to be zero (0) and the rate adjustment <br /> <br />calculations described above for the Operating Year <br />beginninq October 1, 1989 shall so provide. <br />(d) Cost Savings program. Pursuant to the procedure herein <br />described, Company is encouraged to achieve cost savings in its <br />operations which will provide extraordinary rate reductions to <br />Agency's Solid Waste Collection rate payers. Company may, <br />concurrently with its submittal of reports pursuant to Section <br />6.3(a) for the foregoing rate modification process submit, in <br />writing, a proposal for any extraordinary Operating Cost savings <br />(a "Cost Savings Program") together with proforma financial <br />statements describing projected financial results both with and <br />without the Program. Agency, or Authority on behalf of Agency, <br />shall either approve or disapprove the proposed Program on or <br />before May 31 next preceding the commencement date of the <br />Operating Year (October 1) in which such Program is proposed to <br />become effective. Company shall, in cooperation with the rate <br />analyst referenced in Section .6.7, establish procedures for the <br />proper accounting of any such Program; provided that if such <br />procedures are not agreed upon, a Program shall not be <br />recommended for approval by Authority or approved by Agency. It <br />shall be the function of the accounting procedures to determine <br />actual Operating Cost Savings resulting from implementation of <br />any such Program. <br /> <br /> In the event actual cost savings in an Operating Year <br />resulting from implementation of a Cost Savings Program equals or <br />exceeds 5/10tbs of one percent (0.5%) of the Billings for such <br />25 <br /> <br /> <br />