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CITY OF SEWARD, ALASKA
RESOLUTION NO. 95-053
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, ADOPTING THE WATER AND SEWER 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 Water and Sewer 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 Water and Sewer Enterprise Fund revenues and
expenditures for Fiscal Year 1996, is HEREBY ADOPTED.
Section 2. The Water and Sewer Enterprise Fund shall be charged interest on debt
owed to 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 day of 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
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(City Seal)
WATER/SEWER ENTERPRISE FUND
STATEMENT OF REVENUES AND EXPENSES
AND CHANGES IN RETAINED EARNINGS
For Budget Year Ending June 30, 1996
ua u~ge u Jget Budaet
Operating revenues:
Sales:
Residential 553,939 370,729 552,000 559,970 1.4%
Small General Service 138,699 77 803 110000 138 000 25.5%
Larae General Service 219,779 154,505 249 000 233,346 -6.3%
SMIC Sales 108,242 81 890 135 000 116 514 -13.7%
Industrial Sales 89,265 89,248 170000 169,012 -0.6%
Miscellaneous 102,117 99,437 60,800 86,800 42.8%
Total operating revenues: 1,212,041 873,612 1,276,800 1,303,642 2.1%
Operating expenses:
Before deDreciation:
Salaries 143,083 95,696 155,246 154,607 -0.4%
EmDlovee benefits 59,836 35,197 65,867 59,248 -10.0%
SUDPlies & maintenance 83,757 28,614 72,867 62,067 -14.8%
Purchased services 239,996 158,952 236,990 249,925 5.5%
General & Administrative 377,330 244,396 376,686 348,981 -7.4%
Total Operating Expenses: 904,002 562,855 907 656 874828 -3.6%
Operating Income before depreciation 308,039 310,757 369,144 428,814 16.2%
DeDreciation 371,192 297,333 446,000 446,000 0.0%
Operating Income (Loss) (63,153 13,424 (76,856 (17,186
Non-operatlng revenues (expenses)
Interest income 4,110 0 1,000 1,000 0.0%
I nterest expense (45,569 (46,851 (13,129 (51,481 292.1%
Total non-operatlng revenues (expenses) (41,459 (46,851 (12,129 (50,461 316.2%
Income (loss) before operating transfers (104,612 (33,427 (88,985 (67,667
Operating transfers (tol from other funds 0 0 0 0
Net Income (Iossl (104,612 (33,427 (88.985 (67.667
Amortization of contributions in aid 370,221 275,333 413000 426,225 3.2%
Increase (Decreasel in Retained Earnings 265,609 241,906 324,015 358,558
Retained earnings at beginning of year 1,406,756 1,648,582 1,648,582 1,972,597
Residual equity transfers to other funds (23,783 0 0
Retained earnings at end of vear
Undesianated 1,648,582 1,890,488 1,972,597 2,331,155
Total Retained Earnings 1,648,582 1,890,488 1,972,597 2,331,155
FY94
Act I
Y-T-D
Thru
02195
FY95
Reviled
B d t
FY96 '" Chg Fm
Propoled FY95
B d
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CITY OF SEWARD
WATER/SEWER ENTERPIDSE FUND
STATEMENT OF CASH FLOW
For Budget Year Ending June 30, 1996
FY95
Revised
Budget
FY96
Manager
Recommend
%Chg
Fm95
Budget
Cash Is provided By (Used For):
Net Income/(Loss) C88,985 (67,667
Add Expense Items Not Affecting Cash
Depreciation 446,000 446,000 0.0%
Net Cash Provided By
(Used For) Operations 357.015 378,333 6.0%
Other Uses of Cash
DebtpnnclpalPa~nm 100,000 142,140 42.1%
Capital Outlay 37,671 29,421 -21.9%
Available for CapItal Budget 219,344 206,772 -5.7%