HomeMy WebLinkAboutRes2017-0591
CITY OF SEWARD, ALASKA Sponsored by: Hunt
RESOLUTION 2017-059
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, ADOPTING THE SMIC ENTERPRISE FUND
BIENNIAL BUDGET FOR CALENDAR YEARS 2018 AND 2019
WHEREAS, the city manager has submitted to the City Council a proposed biennial
budget for the City of Seward for Calendar Years 2018 and 2019; and
WHEREAS, the preliminary biennial budget was reviewed by the City Council in
budget work sessions on September 27, October 2, and October 3, 2017, which were televised to
the public; and
WHEREAS, a public hearing is scheduled on the proposed budget for October 23,
2017, and a second public hearing and final adoption is scheduled for November 27, 2017; and
WHEREAS, the 2018 budget includes a rate increase of 2.1 % to all rates which are
adjusted according to the five-year average CPI within the Seward Marine Industrial Center
(SMIC) Tariff, and a rate increase of 1.6% for 2019 for those same rates, representing the five-
year average CPI.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. The SMIC Enterprise Fund budget for Calendar Years 2018 and 2019 which
is attached hereto and made a part hereof by reference and which contains estimated revenues
and expenses for the period January 1, 2018 - December 31, 2019, 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
271h day of November, 2017.
THE CITY OF SEWARD, ALASKA
David Squires, Ma r
CITY OF SEWARD, ALASKA
RESOLUTION 2017-059
AYES: Casagranda, Keil, McClure, Slater, Towsley, Horn, Squires
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
A'/ CA.-7z,�W4 __--
J. toukmw
City Clerk
(City Seal) ,••160 o......Edvl *.,
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1
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1
SMIC ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Change in Net Position
For 20I8 and 2019
Operating revenue:
Moorage
Wharfage
Boat Lift Fees
Storage
Power Sales
Rents and Leases
Miscellaneous
Total operating revenue:
Operating expense before depreciation:
Salaries & Benefits
Purchased Services
Power for Resale
Supplies and Maintenance
General and Administrative
Total operating expense:
Operating income before depreciation
Depreciation
Operating Ions
Non -operating revenue (expense)
Investment income and other
Interest expense
Total non -operating revenue (expense)
Income (loss) before contributions & transfers
Transfers in
Capital contributions
Transfers out
Change in net position
Beginning net position
Ending net position
20I6 20I7 2018 20I9
Actual ° Budget Budget Budget
23,573
3,000
I3,000
11,000
10,996
6,252
6,250
6,250
163,286
I40,004
I40,94I
140,000
96,362
114,996
115,000
115,000
145,029
40,956
59,000
41,000
16I,274
I52,700
I79,745
179,745
8,289
I2,192
I07,208
110,208
$608,809
$470,I00
$621,I44
$603,203
101,548
75,444
96,459
97,405
I04,360
80,424
91,026
80,400
I53,550
29,I24
49,000
28,500
24,351
53,496
51,500
57500
203,233
203,952
228,749
227,398
$587,042
$442,W
$5I6,734
$49I,203
2I,767
27,660
I04,4I0
I12,OW
755,466
I,I40,264
I,018,409
L0I7,898
(733,699)
(1,112,604)
(9I3,999)
(905,898)
0
0
0
0
0
0
0
0
0
0
0
0
(733,699)
(I,1I2,604)
(913,999)
(905,898)
165,750
I72,033
322,439
102,567
0
0
0
0
(I24,919)
(10I,746)
(117,269)
(I15,909)
($692,868)
($1,042,317)
($708A29)
($9I9,240)
$37,205,235
$36,SI2,367
$35,470,050
$34,761,221
* Ties to annual Comprehensive Annual Financial Report
$36,5I2,367 * $35,470,050 $34,761,221 $33,84I,98I
Of total depreciation expense, the following amounts were attributable to capital assets funded with capital contributions:
(a) $50I,230 or 66%; (b) $1,017,528 or 89%; (c ) $767,846 or 75%; (d) $505,980 or 50%
SMIC ENTERPRISE FUND
Budgeted Statement of Cash Flow
For 2018 and 2019
2017
20I8
2019
Budget
Budget
Budget
Beginning Cash Balance at I/I/17 #:
-$211,515
Cash is provided by (used for):
Change in Net Position
(1,042,317)
(708,829)
(9I9,240)
Other Uses - Debt Principal
-98,004
-98,008
-98,008
Add expense items not affecting cash
Depreciation
I,I40,264
1,0I8,409
1,017,898
Net increase (decrease) in cash
(57)
211,572
649
Estimated ending cash balance:
-$211,572
$0
$649
* Ties to CAFR
Revenues
12000 4632 Insurance Recovery
12000 5000 Land Rents & Leases
12000 5001 Land Lease Credits
12000 5101 Moorage
12000 5102 Wharfage
12000 6103 Boat Lift Fees
12000 5104 Storage Fees
12000 5106 SMIC Power Safes
12000 5109 Washdown Pad Fees
12000 6153 Fuel Pumping Fee
12000 5800 Labor & Services
12000 5901 EF Investment Interest
12000 5905 EF Penalties and Interest
12000 5940 Amortization of Contributions4n-Aid
Total Revenues
City of Seward
SMIC Enterprise Fund
2018/2019 Biennial Operating Budget
Revenue Deta(I by Line Item
2015 2016 2017 2018 2017-18 2019 2018-19
Actual Actual Budget Budget % Chg Budget % Ch
522
0
0
0
0.00
0
0.00
157,073
172,515
152,700
179,745
17.71
179.745
0.00
0
(11,241)
0
0
0.00
0
0.00
14,201
23,573
3,000
13,000
333.33
11,000
(16.38)
6,969
10,996
6,262
6,250
(0.03)
6,250
0.00
176,777
163,286
140,004
140,941
0.67
140,000
(0.67)
98,727
96,362
114,996
115,000
0.00
115,000
0.00
125,974
146,029
40,956
59,000
44.06
41,000
(30.51)
8,864
3,453
8,196
6,200
(36.65)
8,200
57.69
1,731
3,908
3,000
3,000
0.00
3,000
0.00
2,993
928
996
1,000
0.40
1,000
0.00
(1,582)
0
0
0
0.00
0
0.00
0
0
0
0
0.00
0
0.00
484,905
601,230
1,017,528
767,846 _
(24.54} _
506,980
(34.10}
$ 1,077,154
$ 1,110,039
$ 1,487,628
$ 1,290,982
$ (13.22) $
1,011,175
$ (21.67)
City of Seward
SMIC Enterprise Fund
201812019 Biennial Operating Budget
Expenditure Line Item by Fund
2015
2016
2017
2018
2017-18
2019
2018-19
cttjl
Actual
Budoet
Budget
Ch
Budget
° Ch
Personnel Costs:
6000 Salaries
66,905
61,308
53,784
54,584
1.49
54,607
0.04
6001Overtime
10,559
875
3,360
5,129
52.65
5,228
1.93
6100 Medicare
1,180
933
912
932
2.19
935
0.32
6102 Workers' Compensation
7,091
7,062
4,164
6,710
61.14
6,710
0.00
6201 Retirement Benefits
6,109
0
1,272
1,735
36.40
1,743
0.46
6202 Health Insurance
24,926
31,370
11,952
27,369
128.99
28,182
2.97
Total Personnel Costs:
$ 116,770 $
101,548
$ 75,444 $
96,459
$ 27.86 $
97,405
$ 0.98
Non -Personnel Costs:
7001 Communications
0
0
504
500
(0.79)
500
0.00
7002 Postage and Freight
999
360
5,508
5,500
(0.15)
5,500
0.00
7004Insurance
17,525
14,284
14,400
17,900
24.31
14,400
(19.55)
7006 Legal
25,100
65,300
9,996
15,000
50.06
10,000
(33,33)
7009 Contracted Services
89,000
7,221
30,012
30,000
(0.04)
30,000
0.00
7015 Utilities
14,856
14,756
15,000
17,126
14.17
15,000
(12.41)
7016 Heating Fuel
7,227
2,439
5,004
5,000
(0,08)
5,000
0.00
7100 General Power for Resale
44,178
153,550
26,628
49,000
84.02
26,000
(46.94)
7102 Power Fuel Costs
0
0
2,496
0
(100.00)
2,500
0.00
7211 Gas & Lube
6,488
2,990
9,996
8,000
(19,97)
10,000
25.00
7213 Safety Equipment
330
0
0
0
0.00
0
0.00
7215 Operating Supplies
4,672
5,856
6,000
6,000
0.00
6,500
8.33
7216 Maintenance & Repair
12,355
13,331
36,000
36,000
0.00
36,000
0.00
7217 Small Tools & Equipment
9,222
2,173
1,500
1,500
0.00
5,000
233.33
7300 Advertising
779
0
3,000
3,000
0.00
3,000
0.00
7302 Travel & Subsistence
43
0
0
0
0.00
0
0.00
7321 Harbor General Indirect Costs
52,859
55,262
51,324
65,425
27.47
61,804
(5.53)
7322 Harbor Admin Indirect Costs
35,176
57,058
56,532
64,320
13.78
65,054
1.14
7323 SMIC General Indirect Costs
128,824
111,978
136.740
1166,911
22.06
135,347
(18,91)
7324 Gen Fund Indirect Costs
88,421
90,913
93,108
96,004
3.11
97,540
1.60
7325 Harbor Internal Cost Allocation
(128,824)
(111,978)
(136,752)
(166,911)
22.05
(135,347)
(18.91)
7330 P.I.L.T.
38,639
35,803
25,392
27,396
7.89
26,036
(4.96)
7331 Reclass PILT to Transfer -Out
(38,639)
(35,803)
(25,392)
(27,396)
7.89
(26,036)
(4,96)
7810 Miscellaneous Expense
530
0
0
0
0.00
0
0.00
7900 Depreciation Expense
733,630
766,467
1,140,264
1,018,409
(10.69)
1,017,898
(0.05)
8103 Capital Equipment
0
0
160,600
0
(100.00)
0
0.00
8300 Debt Service Principal
147,012
98,008
98,004
98,008
0.00
98,008
0.00
Total Non -Personnel Costs:
$ 1,290,402
$ 1,338,968
$ 1,765,864
$ 1,536,692
$ 1__ f 2.98) $
1,5_ 09,704
$ (1.76)
Total Expenditures
$ 1,407,172
$ 1,440,516
$ 1,841,308
$ 1,633,151
$ (11.30) $
1,607,109
$ (1.59)
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CITY OF SEWARD
S.M.I.C. ENTERPRISE FUND
Budgeted Interfund Transfers
2018 and 2019
General Fund to cover SMIC deficit
General Fund:
One-half of land rents and leases
Payments -in -Lieu -of -Tax
2018 2019
Transfers- Transfers- Transfers- Transfers -
In Out In Out
322,439 102,567
89,873 89,873
27,396 26,036
$322,439 $117,269 $102,567 $115,909
T/F-In from GF reduced $98,008 each year. SMIC will utilize one-time Project Admin grant monies to make this payment in 2018
and 2019.