HomeMy WebLinkAboutRes2013-085 Sponsored by: Hunt
CITY OF SEWARD, ALASKA
RESOLUTION 2013-085
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, ADOPTING THE WATER ENTERPRISE FUND
BIENNIAL BUDGET FOR CALENDAR YEARS 2014 AND 2015
WHEREAS, the City Manager has submitted to the City Council a proposed biennial
budget for the City of Seward for Calendar Years 2014 and 2015; and
WHEREAS, the biennial budget was reviewed by the City Council in budget work
sessions on September 16, 19, and 24, 2013, which were televised to the public; and
WHEREAS, a public hearing is scheduled on the proposed budget for October 28, 2013
with an additional public hearing and final adoption scheduled for November 12, 2013.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. The Water Enterprise Fund budget for Calendar Years 2014 and 2015 which
is attached hereto and made a part hereof by reference and which contains estimated revenues
and expenses for the period January 1, 2014 - December 31, 2015, is HEREBY ADOPTED. and
the necessary funds 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
12th day of November, 2013.
THE CITY OF SEWARD, ALASKA
A3a/Ldehae"
ean Bardarson, Mayor
AYES: Keil, Shafer, Terry, Squires, Bardarson
NOES: Casagranda
ABSENT: None
ABSTAIN: None
VACANT: One
CITY OF SEWARD, ALASKA
RESOLUTION 2013-085
ATTEST: ...r
( 1 t hanna Ki OF, CMC
h
Cty Clerk
(City Seal)
}iYy7Y.i/�y
�,4 OF St/1 w.,
i •• "fir" r
: * • �� �
i u.
• h
/�/ a
ti OF
•., pl. ..
•t
CITY OF SEWARD
WATER ENTERPRISE FUND
Budgeted Statement of Cash Flow
i""` For Fiscal Year 20I4 and 20I5
2013 2014 2015
Budget Budget Budget
Beginning cash balance at 1/1/13: * $957,479
Cash is provided by(used for):
Change in net position (399,784) (I48,288) (I35,940)
Add expense items not affecting cash:
Depreciation I98,883 I99,238 196,340
Net cash provided by (used for) operations (200,90I) 50,950 60,400
Other sources(uses) of cash
Debt principal payments (I2I,62I) (I25,886) (I27,774)
Loan repayment from Seward Mountain Haven - I,973,360 (a) -
Capital outlay - (I,300,000) (b) -
Net increase (decrease) in cash (322,522) 598,424 (67,374)
Estimated ending cash balance $634,957 $I,233,38I $I,I66,007
(*) Ties to CAFR and includes only Water Enterprise Fund;excludes related capital projects.
(a) $I.9 Million loan will be repaid from Seward Mountain Haven to Water Fund by 20I4.
(6) $400K Maple Street Water Line Extension(assumes City pays outright rather than borrows);$900K transfer to MRRF.
Water Fund is not able to transfer funds to MRRF in 2015 due to new 3rd Ave.Water Line debt payments.
WATER ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Change in Net Position
thug
For Fiscal Year 20I4 and 20I5
20I2 20I3 20I4 20I5
Actual* Budget Budget Budget
Operating revenue:
Residential 408,768 42I,729 433,247 444,5II
Small General Service 116,573 I I2,480 I27,603 I30,92I
Large General Service I97,564 I86,780 2I9,760 225,474
SMIC Sales 54,2I0 67,366 62,479 64,I03
Industrial Sales 230,872 I74,8I6 306,299 3I4,263
Miscellaneous 76,879 65,850 62,I78 63,787
Charges for Services 65,243 I08,963 97,263 99,792
Total operating revenue: $I,I50,I09 $I,I37,984 $I,308,829 $I,342,85I
Operating expense before depreciation:
Salaries& Benefits 295,574 365,280 373,306 39I,953
Purchased services 289,504 336,855 377,200 378,600
Supplies&Maintenance 53,594 96,I30 95,I00 97,I00
General&Administrative 353,773 272,I95 282,4I9 284,111
Total operating expense: $992,445 $I,070,460 $I,I28,025 $I,I5I,764
Operating income before depreciation I57,664 67,524 I80,804 I9I,087
Imo
Depreciation 22I,I79 (c) I98,883 (d) I99,238 I96,340
Operating income(loss) -$63,5I5 -$I3I,359 -$I8,434 -$5,253
Non-operating revenues(expenses)
Interest income I0,95I 67,000 I0,000 I0,000
Other revenue 2I,984 0 0 0
Interest expense -33,908 -39,764 -29,I75 -27,286
Total non-operating revenues(expenses) -$973 $27,236 -$I9,I75 -$I7,286
Earnings before transfers and contributions -$64,488 -$I04,I23 -$37,609 -$22,539
Transfers Out -I37,539 -295,66I -110,679 -113,401
Transfers In 0 0 0 0
Capital contributions and special items 20,070 0 0 0
Change in net position -$I8I,957 -$399,784 -$I48,288 -$I35,940
Beginning net position $6,339,353 $6,I57,396 $5,757,6I2 $5,609,324
Ending net position $6,I57,396 * $5,757,6I2 $5,609,324 $5,473,384
# Ties to annual Comprehensive Annual Financial Report
Of total depreciation expense,the following amounts were attributable to capital assets funded with capital contributions:
(a)$28,997 or I3%;(b) $27,653 or I4%;(c) $22,223 or 11%;(d)$22,223 or I I%