HomeMy WebLinkAboutRes2008-116Sponsored by: Oates
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CITY OF SEWARD, ALASKA
RESOLUTION 2008-1 l6
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEVVARD,
ALASKA, ADOPTING THE SMALL BOAT HARBOR ENTERPRISE
FUND BUDGET FOR CALENDAR YEAR 2009
WHEREAS, on October 27, 2008, the City Manager submitted to the City Council a
proposed budget for the City of Seward for Calendar Year 2009; and
WHEREAS, the budget was introduced at the regularly scheduled Cow~cil meeting on
October 27, 2008, and work sessions were conducted and televised on October 28, October 29,
and October 30 with a final non-televised work session on December 1, 2008; and
WHEREAS, a public hearing was held on the proposed budget on November 24, with
final adoption scheduled for December 8, 2008.
NOW THEREFORE, BE 1T RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
m...
Section 1. The Harbor Enterprise Fund budget for Calendar Ycar 2009 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, 2009, is HEREBY ADOPTED, and the necessary fiends
are hereby appropriated.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 8th
day of December, 2008.
THE CITY OF SF,WARD, ALASKA
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VWillard Dunham, Vice Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2008-116
AYES:
NOES:
ABSENT:
ABSTAIN
ATTEST:
Valdatta, Bardarson, Smith, Kellar, Keil, Dunham
None
Corbridge
None
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Jeai, Lewis, CMC ~
City Clerk
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SMALL BOAT HARBOR ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Changes in Retained Earnings
For Fiscal Year 2009
Operating revenue:
Moorage
Wharfage
Boat Lift Fees
Power Sales
Passenger Transit Fee
Rents and Leases
Miscellaneous
Total operating revenue
2006 2007 2008 2009 2008-09
Actual' Actual" Budget Budget Variance %Change
I ,192,813 1,301,142 I ,310,400 1,324,400
37,716 67,714 21,000 55,000
75,541 89,650 89,250 89,250
201,170 201,0.18 238,000 240,000
625,536 707,824 708,925 650,000
287,760 289,824 292,796 291,893
78,529 94,714 91,150 106,450
$2,499,065 $2,75I,9I6 $2,75I,52I $2,756,993
14,000 LI°o
34,000 161.9%
0 0.0%
2,000 0.8°n
-58,925 -8.3%
-903 -0.3%
15,300 16.8%
$ 5,472 0.2%
Operating expense before depreciation:
Salaries & Benefits 678,523 759,556 880,540 885,167
Purchased Services 269,077 271,047 295,250 285,900
Power for Resale 149,-193 153,327 175,000 160,000
Supplies and Maintenance 100,401 119,469 123,200 1 17,700
General and Administrative 191,-177 169,443 231,1 l8 391,824
Total operating expense: $I,388,97I $1,472,842 $I,705,I08 $I,840,591
4,627 0.54%
-9,350 -3.2°io
15,000 -8.6°ro
-5,500 -}.5°'0
160,706 69.5%
$ I35,483 7.9%
Operating income before depreciation I,I I0,094 I,279,074 1,046,413 916,402 -12.4%
Depreciation 973;)71 ial 620,741 (h) 1,253,999 <<) 1,043,963 (dl 16.7%
Opentingloss $I36,I23 $658,333 -$207,586 -$I27,56I -38.6%
Non-operating revenue (expense)
]nteresc & ocher income 253,737 162.507 38,000 38.000 0.04'0
]nreresc & ocher expense -322,186 -390,715 -385,376 -366.721 -4.8°%
Total non-operating revenue (expense) -68,449 -228,208 -347,376 -328,72I -5.4%
Income (loss) before transfers $67,674 $430,I25 -$554,962 -$456,282 -I7.8%
Transfers in 0 -16.1,387 17,030 0 0.0%
Capital contributions 615,018 2,147,337 36,113 0 0.0%
Transfers out -288,916 -300,908 -382,929 -302.234 -2 L I
Change in net users $393,776 $2,740,94I -$884,748 -$758,516 I4.3%
Beginning net assets I2,5I2,424 I2,906,200 15,647,141 14,762,393 -5.7%
Ending netassers(°) $I2.906.200 $I5.647.I4I $I4.762.393 $I4.003.878 -S.I%
° Ties m annual Comprehensive Annual Financial Report
Of total depreciation expense, the following amounts were attributable to capital assets funded with capital contributions:
(a) 510,931 or 53%; (b) $355,005 or 57%; (c) $640,942 or 5I%; (d) $556,432 or 53%
CITY OF SEWARD
SMALL BOAT HARBOR ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 2009
2008
Budget
Beginning Cash Balance at I/I/08#: $I,37I,228
Cash is provided by (used for):
Change in net assets $84,748
Estimated shortfall in passenger fees vs. budget -45,835
Add expense items not affecting cash
Depreciation
Net cash provided by operations
Other sources (uses) of cash
Transfer fm Passenger Fee fund to cover shortfall
Debt principal payments
Capital outlay
Net increase (decrease) in cash
Estimated ending cash balance:
I,253,999
$323,4I6
36,I I3
-343,048 (a)
-103,978 ,b~
-$87,497
I 283 73I
2009 2008-09
Budget % Change
-758,5 I6 I4.3%
I,043,963 -16.7%
$285,448 -II.7%
46,54I (e>
-359,040 ~~~ -4.7%
-$78,095
$I,205,637
# Ties to CAFR and includes only Harbor Enterprise Fund; excludes related capital projects
(a) $125,000 = 2000 Bond; $55,000 = 2005 Float Extension Bond; $I45,000 = 200 South Harbor Bond
and $18,048 is Travelift loan reimbursement to motor pool fund.
(bj $51,043 =Motor Pool contributions; $52,935 =Equipment. No MRRF contribution this year.
(c) $I30,000 = 2000 Bond; $60,000 = 2005 Float Extension Bond; $I50,000 = 2006 South Harbor Bond
and $ I9,040 is Travelift loan reimbursement to motor pool fund.
(d) Motor Pool contributions. No equipment No MRRF contribution this year.
(e) Passenger fee revenues expected lower than annual bond debt, so transfer from prior year surplus, to pay debt.
CITY OF SEWARD
SMALL BOAT HARBOR ENTERPRISE FUND
Budgeted Cash versus Capital Needs
For Fiscal Year 2009
2008
Estimated Ending cash balance at I2/3I: $ I,283,73I
2009
$ I,205,637
Cash Balance at September 30, 2008 -Harbor Fund & Related Capital Projects
Fund 401 - Small Boat Harbor Uzterprise Fund $1,072,245
Fund 274 - Small Boat Harbor Expansion 423,795 F.annarked
Fund 276 - Harbor Dredging 41,707 Earmarked for capital project
Fund 315 -Harbor Repair and Renovation 2.41,390 Earmarked for capital project
Fund 402 Major Manuenance and Kepair 353,853 Cruise ship head tax for specific use
Fund 806 - Passenger Fec Bond 470,432 Earmarked for bond payments
Total Harbor-related Cash: $2,603,422
Harbor
',Priority I - 300' Z ~security~ Float without slips $2,500,000
'Priority 2 - D Float replacement I,000,000
Priority 3 - Remodel harbormaster restrooms 50,000
Priority 4 - Remaining 570' Z float with slips 5,500,000
Priority 5 - East breakwater 215' addition 3,000,000
Priority 6 - J-Dock side-road pave/landscape 25,000
Priority 7 - Five-Ton hydraulic crane in NW harbor 50,000
Priority 8 - NE parking lot pave and relocate USCG 500,000
Priority 9 - A, B, C, S, G float replacement 7,700,000
Priority 10 -South Uplands pave and landscape 500,000
Priority 1 I - NE Harbor fish cleaning station 850,000
Priority I2 - ADAaccessible fvshing pier 2,600,000
$24,275,000