HomeMy WebLinkAbout04232021 City Council Laydown - Sam HickokL y J
Council Agerida St�atenient
Mee6ng Date: April 26,2,021
TO: City cotmcH
Through: Norm Regis, Acting City Manager
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From: Sawn Hickok, 13epully Finance Director
Agenda tern: 2021 Mid -Cycle Budget Adj'ustmnls
LIL,_ ICATION:
The 2020/2021 Biennial Budget which covers the periodJanuary 1, 2020 through December 31,
2021 was passed December 9, 2019. Periodically, adjusirnents are made (o the budget as new data
becomes available regarding revenues and/(,.,)r changing priorities and projects, "flie specific
requested budget aqjustments are listed on (lie auZ.,:hed schedules with rmajor changes deSellribed
below.
Due to time lafrge econornic irnpaci earl' C"OVID-19, it is necessary for tile City to adJust projected
revenues for 2021 as well as reduce expenses where possible, The 2020 surnmer season saw as
large, rtegative impae,,J on the tourisrn and hospitalityindustry, a maJof source of revenue fbr
Seward, Sales tax revenues came in $1.68 million under, budget and hotel/motel room tax came in
$426,566 under budget, Administration proposes to reduce 2021 Sales tax projections by
$1,34-5,983, representing as 25% reduction over 2019 sales lax actuals,
Recently, President Biden signed as $1 .9 triffion COVID relief package, w1fich includes, astate and
local reliefppropriatiort, Seward is projected to be allocated $579,856 which will be put directly
in the General Fund,
C"ouncil approved RE S 2020-086, revw ising municipal camping fees. This aefion is expected to
bring in, an additional $820,000 in carnping revenue to the General Fund.
Finance and administration met with department heads to discuss where budgets case d be cut,'Fhe
attached Schedule A reflects cu(s agreed upon, mostly to 'rravel & Subsistence.
INTENT:
Th—c7intent of this resolution is to arnend the 2021
appropriate ftpnds as listed on time attachinents.
Budger, as described in the narrative above, plus
FISC'AL NOTE.
action results in anzinticimate d de cremse in (.-ieneral Fund fund balance fbr 2021, of $68,382,
Approved by Finance . .. . .. .... .
ATTORNEY REVIEW: Yes No X
RECOMMENDATION:
Seward City Council approve Resolution 202I- , to approve the 2021 Mid -Cycle Budget
Adjustments in substantial form as attached hereto.
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City of Seward
Mid -Cycle 2021 Budget Adjustments
Schedule °B"
Account
Account Name
DR
CR
General Fund
01000-0000-4000
Sales Tax
1,345,983
01000-0000-4251
Federal Grant Revenue
579,856
01000-0000-4350
Camping Fees
820,000
01000-1120-6000
Salaries
93,538
01000-1120-6102
Workers' Comp
784
01000-1120-6200
Annual leave
7,195
01000-1120-6201
Retirement
6,424
01000-1120-6202
Health Insurance
46,018
01000-1120-6100
Medicare
1,370
01000-1121-7009
Contracted Services
4,000
01000-1121-7301
Subscription & Dues
12,000
01000-1180-7009
Contracted Services
35,000
01000-1220-7302
Travel & Subsistence
1,000
01000-1221-7302
Travel & Subsistence
4,324
01000-1410-7216
Maintenance & Repair
5,000
01000-1410-7010
Engineering
15,000
01000-1411-7216
Maintenance & Repair
9,000
01000-1412-7009
Contracted Services
4,000
01000-1412-7215
Operating Supplies
2,500
01000-1412-7216
Maintenance & Repair
6,000
01000-1412-7217
Small Tools & Equipment
51000
01000-1430-7215
Operating Supplies
19,750
01000-1430-7302
Travel & Subsistence
1,500
01000-1121-7302
Travel & Subsistence
500
01000-1500-7302
Travel & Subsistence
3,500
01000-1122-7302
Travel & Subsistence
5,500
01000-1122-7216
Maintenance & Repair
1,500