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Home My WebLink AboutRes2015-101 Sponsored by: Hunt Public Hearing: October 26, 2015 Additional Public Hearing: November 9, 2015 Adoption: November 9, 2015 CITY OF SEWARD, ALASKA RESOLUTION 2015-101 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, ADOPTING THE MOTOR POOL INTERNAL SERVICE FUND BIENNIAL BUDGET FOR CALENDAR YEARS 2016 AND 2017 WHEREAS, the City Manager has submitted to the City Council a proposed biennial budget for the City of Seward for Calendar Years 2016 and 2017; and WHEREAS, the preliminary biennial budget was reviewed by the City Council in budget work sessions on October 7, 8, 9 and 16, 2015, which were televised to the public; and WHEREAS, a public hearing is scheduled on the proposed budget for October 26 with public hearing and final adoption scheduled for November 9, 2015. SNOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, that: Section 1. The Motor Pool Internal Service Fund biennial budget for Calendar Years 2016 and 2017 which is attached hereto and made a part hereof by reference and which contains estimated revenues and expenses for the period January 1, 2016 - December 31, 2017, 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 9th day of November, 2015. THE CITY OF SEWARD, ALASKA p2 L" .0• can Bardarson, Mayor CITY OF SEWARD, ALASKA RESOLUTION 2015-101 AYES: Keil, Casagranda, Squires, Butts, Altermatt, McClure, Bardarson NOES: None ABSENT: None ABSTAIN: None ATTEST: Jo anna Ki fir y, CMC • y Clerk (City Seal) OF SE�'V�''•. .• G ..t‘ •• •• •• I SEAL I © • —•— ? : .s o Aziv OFASP `•. MOTOR POOL INTERNAL SERVICE FUND Budgeted Statement of Revenues, Expenses and Change in Net Position For 20I6 and 20I7 2014 2015 2016 2017 Actual* Budget Budget Budget Operating revenues-vehicle rental $582,890 $470,439 $29I,600 $I75,000 Operating expenses-depreciation and other 439,217 392,052 431,000 453,800 Operating income(loss) 143,673 78,387 (139,400) (278,800) Non-operating revenue(expense) Interest income 60,376 6,000 6,000 6,000 Interest expense (III) 0 0 0 Other non-operating 2I,006 0 0 0 Total non-operating revenue(expense) 81,271 6,000 6,000 6,000 Earnings before transfers 22,4,944 84,387 (133,400) (272,800) Transfers(to)from other funds 0 0 0 0 Change in net position 224,944 84,387 -133,400 -272,800 Beginning net position 4,656,719 4,881,663 4,966,050 4,832,650 Ending net position $4,881,663 ' $4,966,050 $4,832,650 $4,559,850 * Ties to annual Comprehensive Annual Financial Report CITY OF SEWARD MOTOR POOL INTERNAL SERVICE FUND Budgeted Statement of Cash Flow For 2016 and 20I7 2015 2016 2017 Budget Budget Budget Beginning Cash Balance at 1/1/15*: $736,050 Cash is provided by(used for): Change in net assets 84,387 -I33,400 -272,800 Add expense items not affecting cash Depreciation 392,052 431,000 453,800 Net cash provided by operations $476,439 $297,600 $181,000 Other sources of cash Capital lease proceeds 0 0 0 Loan repayment-SMIC 330-Ton Lift 147,0I2 98,008 (c) 98,008 Loan repayment-50-Ton travelift 29,221 29,221 (a) 0 Loan repayment-SGH PERS 98,576 98,576 98,576 Other uses of cash Debt principal payments 0 0 (b) 0 Capital outlay not spent 455,000 (e) 0 0 Capital outlay (530,000) (d) 0 (f) 0 Net increase(decrease)in cash 676,248 523,405 377,584 Estimated ending cash balance $1,412,298 $1,935,703 $2,313,287 (*) Ties to CAFR. (a) Loan matures I/I/2016. (b) No outstanding debt payment owed by Motor Pool (c) Propose to extend payment period for this loan from 6 to 9 years reducing revenue from$I47,0I2 to$98,008,to relieve impact on GF subsidizing SMIC. (d) $350K engine 3 refurb;$I8K parking;$45K parks plow truck;$50K streets;$42K tyc van;$25K wire trailer. (e) Delayed purchases: $350K engine 3 refurb;$18K parking;$45K parks plow truck;$42K tyc van. (f)Water/Sewer plans to spend up to$100K on two trucks utilizing Water MRRF Funds in 2016. Administration plans to meet in work session with Council prior to year-end to determine which equipment/vehicle purchases to pursue.