HomeMy WebLinkAboutRes2000-140
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CITY OF SEWARD, ALASKA
RESOLUTION 2000-140
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE ELECTRIC ENTERPRISE FUND BUDGET
FOR CALENDAR YEAR 2001
WHEREAS, effective January 1, 2000 the City's fiscal year changed from a July 1 -
June 30 fiscal year to a January 1 - December 31 fiscal year; and
WHEREAS, on October 9,2000, the City Manager submitted to the City Council a
proposed budget for the City of Seward for Calendar Year 2001; and
WHEREAS, the City Council met in work sessions to review the proposed budget on
October 17,18,19, and 20, 2000; and
WHEREAS, public hearings were held on the proposed budget on November 6, 2000
and November 20,2000;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. The Electric Enterprise Fund budget for Calendar Year 2001 which is
attached hereto and made a part hereof by reference and which contains estimated revenues and
expenses for the period January 1 - December 31,2001, is HEREBY ADOPTED.
Section 2. This resolution shall take effect January 1,2001.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 20th
day of November, 2000.
THE CITY OF SEWARD, ALASKA
[:-. rJ <-j ~
Edgar Blatchford, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2000-140
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Brossow, Orr, Shafer
None
Calhoon, Clark, King
None
ATTEST:
/~~
Patrick Reilly
City Clerk
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ELECTRIC ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
And Changes in Retained Earnings
I For Fiscal Year 2001
FY98 FY99 Six-Month FYOO FYOl FYOO-OI
Actual Actual Actual Budget Budget %Chg
Operating revenues:
Sales:
Residential 1,807.018 1.871.366 904,881 1.900,000 1.938.000 2.0%
SmaIl General Service 1,365,312 1,389,337 639.862 1.400,000 1.428,000 2.0%
Large Gencral Service 2.353,337 2.628.071 1.404,185 2,500,000 2,550.000 2.0%
Harbor Power Sales 112,507 190,437 48,966 120,000 122.400 2.0%
Industrial S.ales 421,010 315,934 160.074 300.000 306.000 2.0%
Street & Yard Lights 65,718 66.272 31,485 66,000 67,320 2.0%
MiscclIaneous 150,338 76,835 72,821 80,500 85.000 5.6%
Total operating revenues: $6,275,240 $6,538,252 $3,262,274 $6,366,500 $6,496,720 2.0%
Operating expenses:
Befort depreciation:
Siliries 375,018 330.206 170.365 423,486 440,702 4.1%
Employee benefits 160.620 170,725 88,546 209,648 212.232 1.2%
Purdwed services 254,533 251,747 165,497 443,832 339,869 -23.4%
Power for resale 2,586.398 2.209.647 1.05 I ,480 2,343,800 2,315,000 -12%
Supplies &. maintenance 186,576 162.332 157,322 206,490 213.200 3.2%
Gencral & Administrative 1,003.293 1.042,920 574.980 I. 103.548 1,146.927 3.9%
Total Operating Expenses: $4,566,438 $4,167,577 $2,208,190 $4,730,804 $4,667,930 -1.3"/.
I Operating income before depreciation 1,708,802 2,370,675 1,054,084 1,635,696 1,828,790 11.8"/.
Depreciation 1.1 11.607 1.195,174 608.238 1.197.523 1.255.198 4.8%
Operating Income (Loss) $597,195 $1,175,501 $445,846 $438,173 $573,592 30.9%
Non-operating revenues (expenses)
Interest Income 152,884 182.204 139,852 127,954 125.400 -2.0%
Interest Expense (427.428) (396.113) (185.641) (352.202) (310.500) -11.8%
Other revenues (expenses) 948 (22.486) (10,516) 0 553 0.0%
Total non-operating revenues (expenses) ($273,596) ($236,395) ($56,305) ($224,248) ($184,547) -17.7"/.
Income (loss) before operating transfers $323,599 $939,106 5389,541 $213,925 5389,045 81.9"/.
Opcnting transfers (to) &om ocIocr funds (25.000) (12.500) (317.500) (35.000) (366,985) 948.5%
Net income (loss) $298,599 $926,606 $72,041 $178,925 $22,060 -87.7%
Incre2Sc for reclasses from contributed capital 0 0 2,100 0 0 0.0%
Amottization of contributions in aid 780,023 779.519 392.451 750,758 798,476 6.4%
Increase (decrease) in retained earnings $1,078,622 $1,706,125 $466,592 $929,683 $820,536 -11.7%
Retained earnings at beginning of year $4,267,945 $5,346,567 $7,021,272 $7,487,864 $8,417,547 12.4%
Residual equity transfers 0 (31,42l!l 0 0 0 0.0%
I Retained earnings
Designated for Electric MRRF Fund 250,000 674,130 826,664 676.664 1.176,664 73.9%
Electric Undesignatcd 5.096.567 6,347,142 6,661,200 7.740.883 8,061,419 4.1%
Total Retained Earnings $5,346.567 $7,021,272 $7,487,864 $8,417,547 $9,238,083 9.7%
OTY OF SEWARD
ELECTRIC ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 200 I
FYOO FYOl FYOO-Ol
Bod get Bodget %Chg
Cash is provided By (Used For):
Net Incomel(Loss) $178,925 $22,060 87.7%
Add Expense Items Not Affecting Cash
Depreciation 1,197,523 1.255,198 4.8%
Amortization of Bond Refunding 27,1 IS 27,II5 0.0%
Amortization of Bond Issue Costs 5,802 5,802 0.0%
Net Cash Provided By (Used For) Operations $1,409,365 $1,310,175 -7.0%
Other Uses of Cash
Debt Principal Payments (700,000) (a) (760,000) (c) 8.6%
Capital Outlay (858,910)(b) (7 IO,OOO) (d) -17.3%
Net Increase (Decrease) in Cash ($149.545) ($159.825) -6.9%
(a) $700.000 represents: 1980 bond - $145.000; 1986 bond - $455.000; 1995 bond - $100,000
(b) $858,910 represents: Work order salaries & materials -$208,9 I 0; Capital Budger items totaling $650.000
($600,000 for backup generator & building; $50,000 Ft. Raymond substation battery building)
(c) $760.000 represents: 1980 bond -$155,000; 1986 bond -$475,000; 1995 bond - $130,000
(d) $710.000 represents: Work order salaries & materials -$210,000; MRRF - $500.000
SMALL BOAT HARBOR ENTERPRISE RJND
Budgeted Statement of Revenues and Expenses
and Changes in Retained Earnings
For Fiscal Year 2001
I
FY98 FY99 Six-Month FYOO FYOl FYOO-Ol
Actual Actual Actual Bud2et Bud2et %Chg
Operating revenues:
Assessments 0 0 0 5.358 0 -100.0%
Moorage: 945,686 965.440 507.30 I 929.055 935,000 0.6%
Wlurfage 117.895 30,222 6.392 45.500 40,000 -12.1%
Boat Lift Fecs 173,301 227.621 37.465 90.000 90.000 0.0"10
Power Sales 142,343 160.584 69.503 155.000 155.000 0.0%
Storage 64.916 91.953 0 0 0 0.0%
Rents and Leases 282.972 287,484 10'1.1 55 190,339 242.960 27.6%
Miscdlaneous 93.888 130.368 70.846 103,200 106,600 3.3%
Total operating revenues: SI,821,001 SI,893,672 S795,662 SI,518,452 SI,569,560 3.4%
Operating expenses before depreciation:
Salaries 391.153 389,250 178.272 383. I 82 392.311 2.4%
Employee Bent:fics 185,806 168.802 112.078 165,787 160.005 -3.5%
Purchased Services 253.455 213.916 112.I51 277.523 296,003 6.7%
Power for Resale 113.086 120.178 49,255 120.000 120.000 0.0%
Supplies and Maintenance 137,855 163,261 24.014 84.500 89.500 5.9%
General and Administrative 438.321 574.179 139,486 373,919 306.689 -18.0%
Total Operating Expenses: SI,519,676 SI,629,586 S615,256 SI,404,911 SI,364,508 -2.9%
I Operating income before depreciation 301,325 264,086 180,406 113,541 205,052 80.6%
Depreciation 1.304.608 1,349.070 191,829 369.564 398,825 7.9%
Operating Income (Loss) (SI,003,283) (SI,084,984) (Sl1,423) (S256,023) (SI93,773) -24.3%
Non-operating revenues (expenses)
Interest Income 13.582 73.332 100,864 9,200 5.200 -43.5%
Interest Expense (221.317) (170.638) 0 (10.000) 0 -100.0%
Other revenues (expenses) 633.991 460.125 0 0 0 0.0%
Total non-operating revenue (expense) 426,256 362,819 100,864 (800) 5,200 -750.0%
Income (loss) before operating transfers (S577,027) (S722,165) S89,441 (S256,823) (SI88,573) -26.6%
Operating transfers from other funds 0 0 0 0 0 0.0%
Oper.aring uansfers to other ronds (248.586 ) (137,705) (54,037) (112.741) (131.480) 16.6%
-
Net income (loss) (5825,613) (5859,870) 535,404 (S369,564) (S320,053) -13.4%
Amortization of CIA 1,109.173 1.193.163 181.893 363.783 340,092 -6.5%
Increase in R/E for capitalized assets in other funds 0 123.100 (40,587) 0 0
Increase (decrease) in retained earnings S283,560 5456,393 S176,710 (S5,781) S20,039 -446.6%
Retained earnings at beginning of year 5871,011 SI,154,571 SI,294,840 615,824 610,043 -0.90/.
Residual equity transfers 0 (32,943) 0 0 0 0.0%
Retained earnings at end of year
I Prior Period AdjustnlCnt 0 (283,181) (855.726) 0 0 0.0%
Harbor Undcs,gnatcd 1.1 54,57I 1.294.840 6 I 5.824 610,043 630.082 3.3%
Total Retained Earnings SI,154,571 SI,294.840 S615,824 S610,043 S630,082 3.3%
OTY OF SEWARD
SMALL BOAT HARBOR ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 2001
FYOO FY01 FYOO-Ol
Budget Budget %Chg
Cash is provided By (Used For):
Net Income/(Loss) ($369,564) ($320,053) 13.4%
Add Expense Items Not Affecting Cash
Depreciation 369,564 398,825 7.9%
Net Cash Provided By (Used For) Operations $0 $78,772 100.0%
Other Uses of Cash
Debt Ptincipal Payments 0 0 0.0%
Capital Outlay 0 (12,000) -100.0%
Net Increase (Decrease) in Cash $0 $66.772 100.0%