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CI'I1' OF SE WARD, ALASIi:1
KM;SULU'flUl\ 2UU7-I U3
A RESOLUT101\ OF THF. CITY COiJN('ll. OF"1'Hh; CI"1'1' OF SE1~:-1RD,
;1LASF::1, AllOPTI'.YG THE SEW'ARD YiARi\E TNDUSI'RIAI, C'EN"1'ER
EVTERPRISE FUND BUDGET FOR C.AI.ENDAR YEAR ZOOR
1VIIEREAS, on October ?, 2007, the City b4anager subnulted to the City Council a
proposed budget for the City of Seward for Calendar Year 2008; and
1YIIERE:IS, the budget teas introduced at the re,ularly scheduled Council meeting on
October 8, 2007, and work sessions are conducted and televised vn October 29, October ?0,
November 1, and November 2, 2007; and
1VIIERE:IS, public hearings are hold vn the. propvsed budget on October 22, with final
adoption scheduled for November 13, 2007.
VO~Y' 'THEREFORE, BE IT RFSUI.VF:D BY' THF: CITY CUU~CIL OF THE
CITY OF SEWATtl), ALASKA, that
Section 1. The Seward fvlarine Tndustrial Center Enterprise Pund bud~~et for Cakudxr
Year 2008 which is attached hereto and made a part hereof by reference grid w9tich cauains
estimated revenues and expenses for the period January T -December 31, 2008, is HJ=RFBt'
ADOP'fEl), and the necessary funds are hereby appropriated.
Section 2. I`his resolution shall take zffect Ianuary 1, 2008.
PASSF:U AND .APPROVED by the City Council vl'the City ol'Seward, Alaska, this 1?"
day of Nnvemher, 2007.
THE CI'1'1' OF SF,~+.'aElll. ,>,LASKA
Clark Corbrid;c, Y7avor
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c~rr~ c~F~sr~~~:atu~,:u,~sxa
rtFSOt.>?T~t~n ?oo~-ln3
AY'L•S: Dunham. Valdattn, F3ardarsun, r'~ubcr~;, Kellar, Corbridge
VU1:S: Nvne
At3Sl~:T~~I: SmitL
:~BSrnti;: ~~ne
p,"j'TF.ST
ohanna Dn44er4tidt. Cti1C
Acting City Clerk
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(t_~.lt}'Still} 4°^~~,.,'- •. ;. .,`'~t~°d.
u V. •CQi:~ OK«., ., ~j
o !Z 6...:.".. 't..,A L Q r
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w, c'l''YG ::~'.~ +'
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Slv(I(: G[~ITERPRISF. Fl!NL)
Budgeted tiraremenr of Revenues and Lxpelucs
and (: hanges u) Roamed 1/arnings
r~.r r~e;(I l~car zoos
2W5 LW6 2W7 2W8 2W7-U8
Actual Actual RuJgcc 8udgri Vanance he Cban}lc
Opmtmg rcvenur:
J1,mnge
' 6?tiG .1,993 j,SUi) 5.5W 0 U.U`4
l4
haUagc
' 17,.{91 ?.361 GS00 6,500 U OA^,'o
Ikut Lift 1
rro IU4.U11 106,1 L 110,(N)0 I IU,l1W 0 U.U9L
Power Sales S.gU9 Il,f><)I N.000 10,000 D 0.0°.6
SwraRc 110,120 q9. f9 I10,(NIO IW,Uf1U -10.000 !).1'!~
Krnra anJ I rasp tib.9U') 6A,i?2 71,180 6q,78ti 1,199 _? p?,o
MuceiUnmus I L015 91.5 SIXI SW 0 i1.0T~
Total operumg rcvenue_ 5324,829 5286,690 _
5313,680 5302,18ti Sl 1,394 -3.6°/v
Operating expense belorc dcpndadon:
Salanu 3 [icnetits b",386 71,?90 31AbU Ai+,6W j,j9U 6.A^.n
Vnn 6ax•J .`+a•:+~iccs 30.128 ~3.bW IOA;100 IU3,SW f00 -O.f%
+ Supphn and L4aint m:mir 30.360 3?,Iq3 4j,)W 96,150 1j0 1L5°'.1
} Grnenl and :ldmmatrau~:r 150.502 1/S,S{= 19:1,39$ 1VU.133 1,'3.4 3.5'.0
Tutal uperuinR expense: 5330,A76 S34 [,180 S43U,/US S99I,183 5[0,978 Z.4%.
Operatmg mcome before depreciannn -ti.047 -59,7#0 -117,025 138,897 18J%
Ctcpraudon 1.130,A2' r.~ AA6 129 ;b1 b92,b3j r,t
~ 64Z.63S ~.ai QO't
Oprntutg luss _ (Lf36,879? (941,169) (759,660) (781,532) Z9°h
Non-opaacmg revenue (eapetsse)
lncr,tnuul nuwuc I lu:> i 2.7-1\ j.32U U 0 11.04n
Imrnst expense _
r60,??,?; 150,96$-' ',5Q39 T', 16.700; -Sb.79'o
Total non-open[mg revenue (upcnsc) (ti3,OW) (95,145; fSU,34'/) (6,7W) AG.7h°
mcome (loss) below contributions 8 tran sfers (1,199.874) (986,314) (81007) (7AA,232) -2.7%
Tr°nslers iu )543JG 260,189 i6+,739 282,8'.9 -22.9°ra
(.apnal :UntrlbU[tCU1 O O O U n.0"n
Tnnslcn out S2.6g0 -51555 -54 9q0 -53,993 -2.746
Change m net issers (S l,W2,238) (5777,385) (55110,463) (555A,A51) _
f 1.7°ro
8cgilu+u+g urt asvrts S30,I94,22,2 S29,i4I,989 528,JG9,599 527,864,13E -L89u
EnJutg ntt auto 529,141,984 528,364,599 527,864,136 527.305,285 -2.044,
Of weal dep:c.uuon acpcnx. ehe fo!lon in)! amou nts were aunbutable to eap ual asxxs funded wn h capital eontnbuuons:
f n1 S 1,01 I, I l9 , n A9.~"'~; i'hj 5767,.{3A ,u Afr.G ".'k i, '; S.i23,593 u+ A L5".n ; ; tlj .S$J_{,Si.i ,n d L.5".n
~z
CITY OF ~F.WARD
SNII(; f:NTERf'IZISF, FUND
Rudgelec{ Statem~ut ~f Cash flow
For Fiscal Year 20Ot~
2007 2008 2007-08
Budget Budget °lo Change
Beginning Cash Balance ar. 1/1/07: -$21,320
Cash is provided by ~~~used for;S:
Change in Net Assets -500,163 -118,81I -! 1.7%
:add expense irenu nut affecting cash
Dcpreciauon 642,631 64~?.635 0.U°/n
Net cash provided by operations $112,172 $8:;,78~I -II.I%
Other uses of cash
Uebt principal payments - ] 5I,_50~ (al 1;i,I27 ~,; a j 6-1.9 io
Net increase (decrease) in cash -X9,337 $30,617 -128.3%
Estimated ending cash balance: -$30,657 $0 100.0%
°) Noah S\III: Dock Ilonci
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