HomeMy WebLinkAboutRes2008-112Sponsored by: Oates
CITY OF SEWARD, ALASKA
RESOLUTION 2008-112
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE SEWARD MARINE INDUSTRIAL CENTER
ENTERPRISE FUND BUDGET' FOR CALENDAR YEAR 2009
WHEREAS, on October 27, 2008, the City Manager submitted to the City Council a
proposed budget for the City of Seward for Calendar Year 2009; and
WHEREAS, the budget was introduced at the regularly scheduled Council meeting on
October 27, 2008, and work sessions were conducted and televised on October 28, October 29,
and October 30, with a final non-televised work session on December 1, 2008; and
WHEREAS, a public hearing was held on the proposed budget on November 24, with
final adoption scheduled for December 8, 2008.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SF,WARD, ALASKA, that:
Section 1. The Seward Marine Industrial Center Enterprise Fund budget for Calendar
Year 2009 which is attached hereto and made a part hereof by reference and which contains
estimated revenues and expenses for the period January 1 -December 31, 2009, is HEREBY
ADOPTED, and the necessary funds are hereby appropriated.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 8°i
day of December, 2008.
THE CITY OF SEWARD, ALASKA
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/ {~~Ilard D~ h ~ dice 1VI its ~~_
W ,~V' ayor
CITY OF SEWARD, ALASKA
RESOLUTION 2008-112
AYES:
NOES:
ABSENT:
ABSTAIN
ATTEST:
Valdatta, Bardarson, Smith, Kellar, Keil, Denham
None
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Je n Lewis, CMC;+~ ~`
C~i~ y Clerk
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SMIC ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Changes in Retained Earnings
Nor Fiscal Year 2009
Operating revenue:
Moorage
Wharfage
Boar Lit[ Fees
Power Sales
Storage
Items and Leases
Miscellanzovs
Total operating revenue:
Operating expense before depreciation:
Salaries tk Benefits
Purchased Services
Supplies and Maintenance
Genera] and Adminis[rative
"Total operating expense:
Operating income before depreciation
Depreciation
Operating loss
2006 2007 2008 2009
Actual ° Actual ° Budget Budget
3,-194 2,367 5.500 -4,125
2,862 565 6,500 4,250
IO6,lIS 116,682 110,000 110,000
11,09[ 15,021 25,000 2Q000
94,294 84,720 100,000 IOQ000
68,372 7Q866 69,786 72,669
413 0 500 1,000
$286,641 $290,221 $3I7,286 $312,044
74,740 77,761 83,749 111,237
53,600 61,089 126,300 126,800
37,498 50, 139 52, ] 50 60,000
175,542 197,147 265,514 72,064
$341,380 $386,I36 $527,713 $370,IOI
54,739
886,429 i,; -95,9I5
642,691 (e) -210,427
642.635 r <; -58,057
642,010 fa;
(94I,I68) (738,606) (853,062) (700,067)
Vaziance 2008-09
% Change
-1,375 -25.0°io
-2,250 -3-1,6%
0 0.0°6
-5,000 -20.0%
0 0.0°,io
2,883 4.Ni~
500 100.0%
-$5,242 -L7%
27,488 32.8%
5UO 0.4%
7,550 15.1 °rb
-193,450 -72.9%
-$I57,6I2 -29.9%
-72.4%
-0. I °r6
Non-operating revenue (expense)
Inv~sunent income and other 5,820 8,489 0 0 0.0%
lnterese expense (50;)65) (47,903) (6,700) (46,2071 589.7%
Total non-operating revenue (expense) (45,I45) (39,4I4) (6,700) (46,207) 589.7%
Income (loss) before contributions & transfers (986,3I3) (778,020) (859,762) (746,274) -I3.2%
Transfers in 26Q484 364,734 348,655 140,230 -59.8°io
Capital contributions 0 0 0 0 0.0%
Transfers out 51,555 -52,829 -53.493 -55,485 3.7%
Change in net assets ($777,384) ($466,115) ($564,600) ($66I,529) I7.2%
Beginning net assets $29,14I,984 $28,364,600 $27,898,485 $27,333,885 -2.0%
Ending net asses ° $28,364,600 $27,898,485 $27,333,885 $26,672,356 -2.4%
° Ties to annual Comprehensive Annual Financial Report
Of total depreciation expense, the fallowing arnoun[s were attributable to capital assets funded with capital contributions:
(a) 5767,338 or 87%; (b) $523,550 or 81 %; (c j $548,743 ar 85%; (d) $523,543 or 82%
CITY OF SEWARD
SMIC ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 2009
Beginning Cash Balance at I/I/08 *:
Cash is provided by (used for):
Change in Net Assets
Add expense items not affecting cash
Depreciation
Net cash provided by operations
Other uses of cash
Debt principal payments
Net increase (decrease) in cash
Estimated ending cash balance:
2008 2009 2008-09
Budget Budget % Change
$49,705
-564,600
642,635
$78,035
-53,I27 (a)
$24,908
$74,6I3
661,529
642,0 I0
-$I9,5I9
-55,094 (a)
-$74,6I3
-I7.2%
-0. I
- I25.0%
-3.7%
399.6%
$0 100.0%
° Ties to CAPR
(a) North SMIC Dock Bond
CITY OF SEWARD
SMIC ENTERPRISE FUND
Budgeted Cash versus Capital Needs
For Fiscal Year 2009
Estimated Ending cash balance at I2/3I:
2008
2009
$74,6I3
$0
Cash Balance at September 30, 2008 SMIC Fund & Related Capital Projects
Fund 417 -SMIC Enterprise Fund $256 499
There are currently no SMIC-related capital projects underway.
SMIC
Priority I Disposal/sale of I6 derelict vessels
Priority Z -Removal/disposal of contaminated soil
Priority 3 -Improvements to used oil collection system
Priority 4 - Purchase/i~utall fence around storage area
Priority 5 - Vessel repair infrastructure
Priority 6 - SMIC basin feasibility study
Priority 7 - Dock basin breakwater for SMIC
Priority 8 - Restrown facilities
$60,000
30,000
31,000
300,000
I,500,000
I ,000,000
I0,000,000
75,000
$ I2,996,000