HomeMy WebLinkAboutRes2008-125Sponsored by: Oates
CITY OF SEWARD, ALASKA
RESOLUTION 2008-125
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, AMENDING THE 2008 BUDGET TO ACCOUNT FOR MID-YEAR
UNANTICIPATED REVENUES FROM THE STATE OF ALASKA
WHEREAS, the City of Seward has received three separate payments from the State of
Alaska which were not anticipated in the initia12008 annual operating budget; and
WHEREAS, these three payments include: 1) $378,969 appropriated by the State of Alaska
to the City of Seward, for the purpose of refunding the City a portion of PERS contributions made in
prior years; 2) $233,135 for State Revenue Sharing; and 3) $36,181 iiom the State's energy
assistance program; and
WHEREAS, it is necessary to modify the 2008 Budget in order to more accurately reflect
estimated annual revenues.
NOVV, THEREFORE, BE IT RESOLVEll BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The amount of $648,285 is hereby accepted i~om the State of Alaska, as follows:
1) $378,969 for PERS reimbursements to account ] Ol -0000-4350-01 S0; $233, 135 for State Revenue
Sharing to account 101-0000-4350-0140; and $36,181 for energy assistance to account 101-0000-
4350-0140.
Section 2. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 24`h day
of November, 2008.
TIIE CITY OF SEWARD ALASKA
Clark Corbridge, Mayor
AYES: Valdatta, Dunham, Bardarson, Smith, Kellar, Keil, Corbridge
NOES: None
ABSENT: None
ABSTAIN: None
CITY OF SEWARD, ALASKA
RESOLUTION 2008-125
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Council Agenda Statement
Meeting Date: November 24, 2008
Through: Phillip Oates, City Manager
Prom: Kristin Erchinger, finance Director
Agenda Item: Supplerncntal State Revenues
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BACKGROUND & JUSTIFICATION
The City of Seward received $648,285 in funding from the State of Alaska following passage of the 2008
annual operating budget. In order to more accurately estimate anticipated General Fund revenues, it is
necessary to amend the budget to include these revenues which were not anticipated in the preparation ofthe
2008 budget. "I'he State funding was received for the following programs:
I . $378,969 reflects a refund from the State of Alaska, given to the City of Seward for previous payments
to the Public Employees' Retirement System, which were made on the City's behalf by the State. Since
the City made its required contributions, and the State made additional contributions on the City's
behalf, the State legislature made the decision to refund back to the City, the State's payments on behalf
of the City. The reason for this rebate is that many communities did not also pay their full required
contributions into PERS in the year that the State made additional contributions. So, in order to avoid
disadvantaging Seward for making the full contribution, the State is making this one-time refund
payment.
2. $233,135 reflects the annual revenue sharing payment which was reinstated by the State legislature.
3. $36,181 reflects the State's one-time energy assistance payments made to communities, in an effort to
offset high energy cosfi.
These revenues will be deposited into the General Pund and since they are not being appropriated for
expenditure, will increase the Undesignated Fund Balance account.
CONSISTENCY CHECKLIST
Where applicable, this agenda statement is consistent with the Seward City Code, Charter,
Comprehensive Plans, Land Use Plans, Strategic Plan and City Council Rules of Procedures.
Other:
FISCAL NOTF.
These supplemental revenues will increase the General Fund's undesignated fund balance account.
Approved by finance:
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RECOMMENDATION <
City Council authorize Resolution 2008 ~~ accepting payments frorn the State of Alaska for PERS,
revenue sharing, and energy assistance.
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