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CITY OF SEWARD, ALASKA
RESOLUTION NO. 97-066
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE HARBOR ENTERPRISE FUND BUDGET FOR
THE FISCAL YEAR BEGINNING JULY 1, 1997
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The city Harbor Enterprise Fund budget for the fiscal year beginning July 1,
1997, which is attached hereto and made a part hereof by reference, and which contains estimated
Harbor Fund revenues and expenditures for Fiscal Year 1998, is HEREBY ADOPTED.
Section 2. The Harbor Enterprise Fund shall be charged interest on debt owed to the 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 1, 1997.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, this 9th day of June, 1997.
THE CITY OF SEWARD, ALASKA
AYES:
NOES:
ABSENT:
ABSTAIN:
Bencardino, Blatchford, Clark, Crane, Keil, King
Anderson
None
None
ATTEST:
f~~
Patricia J. Jones, CMC
Acting City Clerk
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(City Seal)
HARBOR ENTERPRISE FUND
STATEMENT OF REVENUES AND EXPENSES
AND CHANGES IN RETAINED EARNINGS
For Budget Year Ending June 30, 1998
FY96
FY97
FY97
FY9lI
Approved FY97-98
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Actual Thru 2/97 Budeet Dudeet Y.Che
Opel1lURIl revenues:
Mooraae 888,005 707,450 1,062,977 1,021,500 -3.9%
Wharfa"" 152,018 107,839 139,000 175,000 25.9%
Boal Lift F_ 176,769 92,354 255,000 210,000 -17.6%
Power Sales 154,735 99,384 185,000 170,000 -8.1%
S_ 59,298 43,068 78,264 68,000 -13.1%
Labor and Serville 6,957 5,298 9,300 7,800 -16.1%
Rcnll and LeaaeI 319,016 220,149 388,614 262,084 -32.6%
MiIllCUoncous 133,802 62,196 97,150 75,250 -22.5%
Total o......tl... revonu..: 1,890,600 1,337,738 2,215,305 1,989,634 -10.2%
O......tl... .....n...:
Before deorcciation:
Salaries 404,082 242,324 366,995 400,863 9.2%
EnlPlovec Bcnefill 176,398 105,981 152,917 151,183 -1.1%
Purchased Services 239,919 145,555 219,360 193,721 -11.7%
Power for Resale 106,897 67,263 11 0,607 110,607 0.0%
Sunolie. and Mainlenanlle 135,377 85,211 138,401 136,554 -1.3%
General and Administrative 455,681 252,391 442,459 424,267 4.1%
Total O......tl... E....n...: 1,518,354 898,725 1,430,739 1,417,195 ..().9%
O......tloe Incom. before d.predatlon 372.246 439 013 784.566 572,439 -27.0%
J)epreoiation 1,253,324 855,269 1,282,904 1.301,273 1.4%
Oo....tln. Ineo.... !Loss) (881 078 (4162561 (498 338 (728 834 46.3%
Non.........tl... rev.nu.. (..........)
Inlorcst Income 31,285 9,592 16,000 16,000 0.0%
Inlorcst R""""", (253,248 (124,436 (236,841 (157,106 -33.7%
Gain on Sale of Fixed Assets 1,592 0 0 0 O,()%
Lou on Sale afFixed Assets (23,474 0 0 0 0.0%
Total non-o......tlne rev.nu.. (.....n...) (243,845 (114,844 (220,841 (141,1061 -36.1 "/.
Incom. (Iou) before o......tln. transf.... (1,124,923 (531,100 (719,179 (869,940 -21.0"/.
Oooratina transfen to other funds 0 (85,149 (154,842 (130,042 0
transfen from other funds 0 0 0 1,283,710 100.0%
Net Incom. (10") (1,124,923\ (616,249 (874,021 283,728 132.5%
Amortization of Contributions-in-Aid 1,061,671 730,559 1,095,838 1,105,283 0.9%
Ine...... (d..,......) In retained .amln., (63,252) 114,310 221,817 1,389,011 526.2%
RetaIned earnl.... at Jun. 30 1,087,032 1,003,817 1,003,817 1,225,634 22.1%
Residual cqujtv transfen (to) from other funds (19,963 0 0 0 0.0%
Budeeted Retalned .amln., at June 30
Undesiona1cd 1,003,817 1,118,127 1,225,634 2,614,645 113.3%
Total Retained Eamlne, 1,003,817 1,118,127 1,225,634 2,614,645 113.3%
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CITY OF SEWARD
HARBOR ENTERPRISE FUND
BUDGETED STATEMENT OF CASH FLOW
For Budget Year Ending June 30,1998
FY98
FY97 Approved FY97-98
Budget Budget %Chg
283,728 132.5%
Cash
1,282,904 1,301,273 1.4%
15,048 15,048 0.0%
2,268 2,268 0.0%
Net Cash Provided By
(Used For) Operations 426,199 1,602,317 276.0%
Other Uses of Cash
Debt Principal Payments 178,575 192,929 (a) 8.0%
Capital Outlay 220,844 130,930 (b) -40.7%
!Net Increase (Decrease) in Cash
26,780 I 1,278,458 I 4673.9% I
(a) $192,929 is comprised of250 Ton lift lease - $55,000; 1987 N. SMlC dock bonds - $119,408; High mast lights loan - $18,521
(b) $130,930 is comprised of equipment - $4,000; MRRF fund - $126,930
CITY OF SEWARD
HARBOR ENTERPRISE FUND
Operating and Residual Equity Transfer Budget
For Budget Year Ending June 30, 1998
FY97
Budget
FY98
Approved
Budget
I Operating Transfers from Other Funds
01~83,7101
Operatinf! Transfers to Other Funds:
General Fund - 1/2 land lease revenue 154,842 105,042
General Fund - federal lobbying 0 10,000
General Fund - marketing 0 5,000
General Fund - computer network 0 10,000
Total Operating Transfers-Out 154,842 130,042
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IResidual Equity Transfers-In (Out)
01= 01
(154,842X=::=:h153,668!
INet Transfers-In (Out)
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