HomeMy WebLinkAboutRes1995-051
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Sponsored by: Tones
CITY OF SEWARD, ALASKA
RESOLUTION NO. 95-051
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, ADOPTING THE HARBOR ENTERPRISE FUND
BUDGET FOR THE FISCAL YEAR BEGINNING JULY 1, 1995
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The city Harbor Enterprise Fund budget for the fiscal year beginning
July 1, 1995, which is attached hereto and made a part hereof by reference, and which
contains estimated Harbor Fund revenues and expenditures for Fiscal Year 1996, is
HEREBY ADOPTED.
Section 2, The Harbor Enterprise Fund shall be charged interest on debt owed to
the General Fund at a rate equal to and adjusted monthly in accordance with the rate set
forth in the Bond Buyer Index for Twenty Year General Obligation Bonds.
Section 3. This resolution shall take effect July 1, 1995.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, this 12th June, 1995.
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
THE CITY OF SEWARD, ALASKA
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Dave W. Crane, Mayor
Anderson, Crane, Darling, Deeter, King, O'Brien, Sieminski
None
None
None
(City Seal)
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HARBOR ENTERPmSE FUND
STATEMENT OF REVENUES AND EXPENSES'
AND CHANGES IN RETAINED EARNINGS
For Budget Year Ending June 30. 1996
FY94
Y-T-D
Thru
FY95
Revised
FY96 % Chg Fm
Proposed FY95
Actual 02195 Budget Budget Budget
Ooeratlna revenues:
Mooraae 946,833 816,072 1,181,735 1,111,621 -5.9%
Wharfaae 227,023 131,806 302,000 307,000 1.7%
Boat Lift Fees 207,552 127.454 279,372 265,000 -5.1%
Power Sales 148,990 118,193 166,000 166,000 0.0%
Storaae 149,514 87,133 170,132 78,264 -54.0%
Labor and Service 14,121 10,204 15,659 9,300 -40.6%
Rents and Leases 238,611 207,326 239,111 314,715 31.6%
Miscellaneous 174,045 53,670 75,400 75,400 0.0%
Total ooeratlna revenues: 2,106,669 1,551,858 2,429,400 2,327,300 -4.2%
Olleratlna eXllenses:
Before deoreciation:
Salaries 400,876 287,386 476,088 378,464 -20.5%
Emplovee Benefits 183,503 127,091 215,486 160,656 -25.4%
Supplies & Maintenance 101,414 56,630 104,181 159,819 53.4%
Power for Resale 99,472 78,236 110,607 110,607 0.0%
Purchased Services 412,327 346,558 459,562 246,003 -46.5%
General and Administrative 598,995 468,038 648,685 411,603 -36.5%
Total Ooeratina Exoenses: 1,796,587 1,363,939 2,014,609 1,467.152 -27.2%
Operatina Income before depreciation 310,102 187,919 414,791 860,148 107.4%
Depreciation 1,253,140 833,333 1,250,000 1,274,000 1.9%
Ooeratlna IncomelLossl 1943,038 1645,414 1835,209 1413,852 -50.4%
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Non-operatina revenues lexpensesl
Interest Income 30,372 17,898 9,000 6,750
Interest Exoense 1210,542 1133,733 7164,414 (235,557 43.3%
Total non-olleratlna revenues (expenses' 1180,170 1115,835 1155,414 1228,807 47.2%
Income /lonl before ooeratina transfers (1,123,208 1761,249 1990,623 1642,659
Ooeratina transfers Itol from other funds 1175,846 1172,000 1190,000 0
Net Income /lossl (1,299,054 1933,249 11,180,623 (642,659
Amortization of Contributions-In-Aid 1,081,541 706,667 1,060,000 1,167,000 10.1%
Increase Idecreasel in retained earninas 1217,513 1226,582 1120,623 524,341
Retained earninas at beainnina of year 1,898,111 1,680,598 1,680,598 1,559,975
Residual eauitv transfers to other funds 0 0 0 122,500
Retained earnlnas at end of vear
Desionated for Caoitallmorovements 140,606 0
Undesionated 1,680,598 1,454,016 1,419,369 2,061,816
Total Retained Earninas 1,680,598 1,454,016 1,559,975 2,061,816
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CITY OF SEWARD
HARBOR ENTERPmSE FUND
STATEMENT OF CASH FLOW
For Budget Year Ending June 30, 1996
FY95
Revised
Budget
FY96
Proposed
Budget
% Chg
Fm 95
Budget
Cash Is provided By (Used For):
Net Income/CLoss) (1,180,623 (642,659 -45.6%
Add Expense Items Not Affecting Cash
Depreciation 1,250,000 1,274,000 1.9%
Net Cash Provided By
(Used For) Operations 69,377 631,341 810.0%
Other Uses of Cash
Debt Principal Payments 139,703 187,937 34.5%
Capital Outlay 53,009 261,600 393.5%
Motor Pool Residual Equity Transfer 0 22,500 100.0%
Available for Capital Budget (123,335 159,304