HomeMy WebLinkAboutRes1996-065
r
,
,
Sponsored by: Garzini
CITY OF SEWARD, ALASKA
RESOLUTION NO. 96-065
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, ADOPTING THE ELECTRIC ENTERPRISE FUND
BUDGET FOR THE FISCAL YEAR BEGINNING JULY 1, 199&
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The City Electric Enterprise Fund budget for the fiscal year beginning July 1,
1996, which is attached hereto and made a part hereof by reference, and which contains estimated
Electric Fund revenues and expenditures for Fiscal Year 1997, is HEREBY ADOPTED.
Section 2. The Electric Enterprise Fund shall be charged interest on debt owed to General
Fund at a rate equal to and adjusted monthly in accordance with the rate set forth in the Bond Buyer
Index for Twenty Year General Obligation Bonds.
Section 3. This resolution shall take effect July l, 1996.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, this 28th day of May, 1996.
THE CITY OF SEWARD, ALASKA
AYES:
NOES:
ABSENT:
ABSTAIN:
Anderson, Bencardino, Crane,
None
Deeter
None
ATTEST:
,,\;~l1I1H~.r
.."", :.. J.,~
,'1., ",!" ..'" {/l'~,.
~ ,";.~
.,.., ,- -~ fl"
:: . .,~ ~.
~ . ~
.. '"
.~ ~
~:- .. " .,.,
'"
" <<.r.::
. ..
. ow
'~:.,~.:':~~V}.~., \~'<.M' :"" i
~'" "If: .:':,.:1,..'" ',:" .,;....
~ -~: ;'..,~>'..... c'" ,\ ~ ~ ~ .,;.~
~#J L'f' .h,\.."-:-\\'\,:
111:aJlli\\~
(City Seal)
ELECTRIC ENTERPRISE FUND
STATEMENT OF REVENUES AND EXPENSES
AND CHANGES IN RETAINED EARNINGS
FY1l7 Budget and FY1l8 Preliminary Budget
FY!15
FY96
FY96
FY97
FY96-97
FY!IlI
FY97-!IlI
Actual ThMl 1196 BudEd BudEd % Cluu!l!e BudEd % Cluu!l!e
O......t1.. reven....:
Sales:
Residential 1,706,046 1,024,410 1,747,975 1,792,013 2.5% 1,800,000 0.4%
Small GencnI Setvice 1,266,686 854,308 1,325,440 1 373,668 3.6% 1 375,000 0.1%
Larite Gcnenol Service 1,880,294 1,262,951 2,019,221 2,016,990 ~.1% 2,016,990 0.0%
Harbor Power Sales 269,260 266,975 110,607 111,128 0.5% 111,128 0.0%
Industrial Sales 536,671 337 907 582,196 580 185 ~.3% 580185 0.0%
SIrcel.lt Yon! Liahts 61,978 44,565 66,583 67,000 0.6% 67,000 0.00,4
MiscellllftCO\lS 111,814 47,181 76,866 93,800 22.00,4 93,800 0.00,4
Assessments 5075 1,548 2,622 1189 -54.7% 1050 -11.7%
Total.......t1... reven....: 5,837,824 3,839,845 5,931,510 6,035,973 1.8% 6,045,153 0.2%
o......t1... ..........:
Before dcorec:iatiOll:
Salaries 371,254 297,314 517,190 492,458 -4.8% 514,206 4.4%
Enu>lovee benefits 180,116 118,089 190,201 199,485 4.9% 205 393 3.0%
Purcbued services 231,490 160,186 209,126 254,300 21.6% 242,578 -4.6%
Power for resale 2,239,901 1,522,293 2,550,240 2,475,110 -2.9% 2,598,765 5.0%
SUIlIllies.lt maintenance 151,626 107,700 218,917 156,425 -28.5% 225,388 44.1%
Gcnenol .It AdrninistratM: 945,379 614,569 963,897 1,023,329 6.2% 1,043,449 2.0%
Total O......t1... E.........: 4,119,766 2,820,151 4,649,571 4,601,107 -1.0% 4 829 779 5.0"1-
O......t1...Incom. bef.... de 1,718,058 1,019,694 1,281,939 1,434,866 11.9"1. 1,215,374 -15.3"1.
Dem-eciatiOll 969,337 650 000 975 000 1 121 888 15.1% 1 094 616 -2.4%
ope...t1.. Income 1Uu) 748,721 369,694 306,939 312,978 2.0.10 120,758 -61.4%
N.n.........t1... ......n.... (.me.....)
Interest Income 94,171 59,575 75,000 75,275 0.4% 75,275 0.0%
Interest_ (344,728 ll68345 (439,157 (466186 6.2% (436335 -6.4%
. 0lI disposa) affIXed IISCls 0 0 0 0 0.0% 0 0.0%
(loss) 0lI disposa) affIXed IISCls 0 (50,113 0 0 0.0% 0 0.0%
Total non-4Denthur: revenues (e:uteRlft) (250 557' (158 883' (364,157: (390,911 7.3% (361,060 -7.6%
Income (Iou) before operating tnnsren 498,164 210,811 (57,218 (77,933 36.2% (240,302 208.3"1.
Ope...t1.. traOlr.... (10)........ other runds (146,237 0 0 (50,000 -100.0% 0 0.0010
Net Income (Iou) 351,927 210,811 (57,218 (127,933 123.6"1. (240,302 87.8%
Amortization of conbibutions in aid 457,510 323,333 485,000 782,023 61.2% 771,449 -1.4%
Increase (Decnue) In RetIllned EIlmlllll 809,437 534,144 427,782 654,090 52.9% 531,147 -18.8"1.
Retained earnln.1 at June 30 1,783,422 2,592,859 2,592,859 3,020,641 16.5% 3,674,731 21.7"1.
Retained earnlnp
UndesilllUlled 2,592,859 3,127,003 3,020,641 3,674,731 21.7% 4,205,878 14.5%
Toul Retained Earnlruu 2,592,859 3,127,003 3,020,641 3,674,731 21.7"1. 4,205,878 14.5%
r
,
CITY OF SEWARD
ELECTRIC ENTERPRISE FUND
STATEMENT OF CASH FLOW
FY97 Budget and FY98 Preliminary Budget