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CITY OF SEWARD, ALASKA
RESOLUTION 2003-003
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, AMENDING THE FY2002 BUDGET BY APPROPRIATING
$145,506.87 FROM SALES TAX REVENUES TO THE HOSPITAL DEBT
SERVICE FUND
WHEREAS, the Fiscal Year 2002 Budget anticipated that one cent of every three cents in
sales tax collected by the City of Seward would be transferred to the Hospital Debt Service Fund to
be used to pay: the debt service costs related to construction of the hospital facility; the hospital
Public Employees Retirement System (PERS) liability; and to finance major repair and replacement
costs associated with the new hospital facility; and
WHEREAS, the Fiscal Year 2002 Budget included an estimated amount of $606,333 in
sales tax revenues be transferred from the General Fund to the Hospital Debt Service Fund, based on
initial estimated total sales tax cash receipts of $1 ,818,999; and
WHEREAS, the actual sales tax receipts from the Kenai Peninsula Borough during Fiscal
Year 2002 exceeded the budget estimates and totaled $2,255,519.61, resulting in the need to amend
the budget and increase the General Fund's operating transfer to the Hospital Debt Service Fund; and
WHEREAS, based on the additional sales tax collected, it is necessary to transfer an
additional $145,506.87 from the General Fund to the Hospital Debt Service Fund for a total FY2002
transfer of $751,839.87.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The Fiscal Year 2002 budget shall be amended by appropriating $145,506.87
from the General Fund Operating Transfers-Out account no. 101-0000-3070-0801 to the Hospital
Debt Service Fund Operating Transfers-In account no. 801-0000-3070-0000.
Section 2. This resolution shall be retroactive to December 31, 2002.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 13th
day of January, 2003.
CITY OF SEWARD, ALASKA
RESOLUTION 2003-003
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
THE CITY OF SEWARD, ALASKA
ra ( 1~~Lr -..J
Edgar Blatchford, Mayor
Dunham, Branson, Clark, Valdatta, Shafer, Orr, Blatchford
None
None
None
(City Seal)
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