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CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-061
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE PARKING REVENUE ENTERPRISE FUND
BUDGET FOR THE SIX-MONTH PERIOD BEGINNING JULY 1, 1999
WHEREAS, on April 26, 1999 the City Manager submitted to the City Council a proposed
budget for the City of Seward for the six-month period from July I through December 31, 1999; and
WHEREAS, the six-month budget represents a short budget during the transition period in
which the City's fiscal year will change from a July 1 - June 30 fiscal year to a January 1 - December
31 fiscal year, effective January 1,2000;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CJrY
OF SEWARD, ALASKA, that:
Section 1. The Parking Revenue Enterprise Fund budget for the six~Ill~)llth period beginning
July 1, 1999 which is attached hereto and made a part hereof by reference and which contains
estimated revenues and expenses for the period July I - December 31, 1999, is HEREBY
ADOPTED.
Section 2. This resolution shall take effect July 1, 1999.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 24th day
of May, 1999.
THE CITY OF SEWARD, ALASKA
~ l &750
Lowell R. Satin, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-061
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AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Gage, Orr Shafer, Satin
King
None
None
ATTEST:
~"J Ad-fz
Patrick Reilly
City Clerk
(City ~_..".,1.
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PARKING REVENUE ENTERPRISE FUND
Statement of Revenue and Expenses
I and Changes in Retained Earnings
For Six-Month Budget Period Ending December 31, 1999
Six-month
FY97 FY98 FY99 Budget FY99-00
Actual Actual Budget 711-12131/99 %Chg
Operating revenues:
Parking tickets 5,440 0 0 0 0.0%
Parking revenue 0 0 47,021 70,000 100.0%
Contract fees 24,411 67,585 34,925 0 -100.0%
Total operating revenues: 529,851 567,585 581,946 570,000 -14.6%
Operating expenses:
Salaries 5,400 0 16,144 22,873 -100.0%
Employee Benefits 0 0 0 0 0.\)''/0
Purchased Services 0 34,982 21,521 5.050 -76.5%
Supplies and Maintenance 1,263 3,371 11,160 800 -92.8%
General and Administrative 5,575 5,678 12,015 6,958 -42.1 %
Total operating expenses: 512,238 544,031 560,840 535,681 -41.4 %
I Operating income before depreciation 17,613 23,554 21,106 34,319 62.6%
Depreciation 0 0 0 0 0.0%
Operating Income (Loss) 517,613 523,554 521,106 534,319 62.6%
Non-operating revenues (expenses)
Interest Income 0 834 0 0 0.0%
Interest Expense (453) 0 0 0 0.0%
Total non-operating revenues (expenses) (5453) 5834 50 50 0.0%
Net Income (Loss) 517,160 524,388 521,106 534,319 62.6%
Retained earnings at beginning of year (55,959) 511,201 535,589 556,695 59.3%
Retained earnings at year-end 511,201 535,589 556,695 591,014 60.5%
.
CITY OF SEWARD
PARKING REVENUE ENTERPRISE FUND
Budgeted Statement of Cash Flow
F or Six-Month Budget Period Ending December 31, 1999
Six-month
FY99 Budget FY99-00
Budget 711-12/31/99 %Chg
Cash is provided By (Used For):
Net Income/(Loss) $21,106 $34,319 62.6%
Add Expense Items Not Affecting Cash
Depreciation 0 0 0.0%
Net Cash Provided By (Used For) Operations $21,106 $34,319 62.6%
Other Uses of Cash
Debt Principal Payments 0 0 0.0%
Capital Outlay 35,000 0 -100.0%
Net Increase (Decrease) in Cash ($13.894) $34.319 347.0%