HomeMy WebLinkAboutRes2009-104 Sponsored by: Oates
CITY OF SEWARD, ALASKA
RESOLUTION 2009 -104
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE WATER ENTERPRISE FUND BIENNIAL
BUDGET FOR CALENDAR YEARS 2010 AND 2011
WHEREAS, the Seward City Council met on September 14 and September 28, 2009 to
authorize budget policies and provide budget guidance to the administration, and conducted
extensive work sessions for the purpose of discussing enterprise fund capital infrastructure needs
and rate reviews on September 15, 24, 28, and 29, 2009; and
WHEREAS, on October 12, 2009, the city manager submitted to the City Council a
proposed biennial budget for the City of Seward for Calendar Years 2010 and 2011; and
WHEREAS, the biennial budget was introduced at the regularly scheduled Council
meeting on October 12, 2009, and work sessions were conducted and televised on October 13,
14, 15, and 16, 2009; and
WHEREAS, a public hearing was held on the proposed budget on November 9, with
final adoption scheduled for November 23, 2009.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. The Water Enterprise Fund budget for Calendar Years 2010 and 2011 which
is attached hereto and made a part hereof by reference and which contains estimated revenues
and expenses for the period January 1, 2010 - December 31, 2011, 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 23
day of November, 2009.
THE CITY OF SEWARD, ALASKA
///, A 49/4
Willard E. Dunham, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2009 -104
AYES: Valdatta, Bardarson, Smith, Keil, Shafer, Amberg, Dunham
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
Jean Lewis, CMC
City Clerk
(City Scal) *�
p 4 f
WATER ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Change in Net Assets
-
For Fiscal Year 2010 and 2011
2008 2009 20I0 2011
Actual * Budget Budget Budget
Operating revenue:
Residential 358,347 370,000 377,280 396,52I
Small General Service I04,I93 1I0,000 117,376 123,362
Large General Service I59,245 188,484 I57,200 165217
SMIC Sales 64,015 74,000 62,880 66,087
Industrial Sales 145,287 160,000 I36,240 143,188
Miscellaneous 60,838 62,200 60,500 60,500
Charges for Services I06,616 92,000 83,840 88,115
Total operating revenue: $998,54I $I,056,684 $995,316 $1,042,990
Operating expense before depreciation:
Salaries & Benefits 257,891 281,I27 355,151 365,202
Purchased services 203,931 407,000 364,000 370,500
Supplies & Maintenance 102,182 91,100 127,600 138,600
General & Administrative 223,469 249,280 262,614 275,144
Total operating expense: $787,473 $I,028,507 $I,109,365 $I,149,446
- Operating income before depreciation 211,068 28,177 - 114,049 - 106,456
Depreciation 224,309 (c) 212,142 (d) 202,436 202,133
Operating income (loss) - $13,241 - $183,965 - $316,485 - $308,589
Non - operating revenues (expenses)
Interest income 113,713 105,000 68,000 68,000
Other revenue 83,184 0 0 0
Interest expense - 185,708 - 55,419 - 48,708 - 46,602
Total non - operating revenues (expenses) $11,189 $49,581 $19,292 $21,398
Earnings before transfers and contributions - $2,052 - $134,384 4297,193 4287,I91
Transfers Out - 84,883 - 83,070 - 81,660 - 83,410
Transfers In 0 0 0 0
Capital contributions and special items 99,527 0 0 0
Change in net assets $12,592 - $217,454 - $378,853 - $370,601
Beginning net assets $5,684,776 $5,697,368 $5,479,9I4 $5,101,06I
Ending net assets $5,697,368 $5,479,914 $5,101,061 $4,730,460
* Ties to annual Comprehensive Annual Financial Report
Of total depreciation expense, the following amounts were attributable to capital assets funded with capital contributions:
"- (a) $32,033 or 14 %; (b) $32,033 or I5 %; (c) $29,439 or 15 %; (d) $27,653 or I4%
CITY OF SEWARD
WATER ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 20I0 and 20I I
2009 2010 2011
Budget Budget Budget
Beginning cash balance at 1/1/09: * $I,320,497
Cash is provided by (used for):
Loan payment for LTC project 0 5,630 5,630
Change in net assets - $217,454 - $378,853 - $370,60I
Add expense items not affecting cash:
Depreciation 212,142 202,436 202,I33
Net cash provided by (used for) operations - $5,3I2 - $I70,787 - 8162,838
Other uses of cash
Debt principal payments - II4,07I - 140,427 - I42,534
Capital outlay - 80,000 - 40,000 (a) - 40,000 (b)
Net increase (decrease) in cash - $I99,383 - $35I,2I4 - $345,372
Estimated ending cash balance $I,121,114 $769,900 $424,528
( ") Ties to CAFR and includes only Water Enterprise Fund; excludes related capital projects. See below.
(a) Equipment = $40K - backup generator; No depreciation reserve contribution.
(b) Infrastructure costs = $40K; No Depreciation reserve Fund contribution.
Cash Balance - Water Fund & Related Capital Projects (9/30/09):
Fund 701 - Water Enterprise Fund $ I,5I2,732 Capital needs listed below o0
Fund 700 - Major Maintenance, Repair & Replacement Fund 4,019 Earmarked for capital budget
Fund 704 - Forest Acres /Gateway Water and Sewer Lines 29,423 Project complete
Fund 707 - Storage Tanks 0 Earmarked for capital project
Fund 708 - Fire Hydrant, Phase II 61,912 Earmarked for capital project
Fund 710 - Water Source Study - 20,398 Earmarked for capital project
Fund 713 - Third Avenue Water Line 45,000 Earmarked for capital project
Total Water- relared Cash: $1,632.688