HomeMy WebLinkAboutRes1998-066
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Sponsored by: Janke
CITY OF SEWARD, ALASKA
RESOLUTION NO. 98-066
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE WATER AND SEWER ENTERPRISE FUND
BUDGET FOR THE FISCAL YEAR BEGINNING JULY 1, 1998
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The City Water and Sewer Enterprise Fund budget for the Fiscal Year beginning
July 1, 1998 which is attached hereto and made a part hereof by reference, and which contains
estimated Water and Sewer Enterprise Fund revenues and expenditures for Fiscal Year 1999, is
HEREBY ADOPTED.
Section 2. This resolution shall take effect July 1, 1998.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 26th
day of May, 1998.
THE CITY OF SEWARD, ALASKA
~M~
Lowell R. Satin, Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Clark, Gage, King, Orr, Satin
None
None
None
ATTEST:
Patrick Reil~,,~r~~~'",.
City Cle~'--l OF S12';'~~"
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WATER/SEWER ENTERPRISE FUND
Statement of Revenues and Expenses
and Changes in Retained Earnings
. For Budget Year Ending June 30, 1999
FY97 FY98 FY98 FY99 FY98-99
Actual Thru 3/98 Budget Budget %Chg
Operating revenues:
Residential 567,832 428,616 568,140 573,800 1.0%
Small General Service 118.423 99,578 132.000 138,250 4.7%
Large General Service . 273,494 179,717, 247.000 243,500 -1.4%
SMIC Power Sales 120,283 107.2,69 ' I I 1.500 I 16,000 4.0%
Industrial Sales 110.511 78,531 130,000 130,000 0.0%
MIscellaneous 109,326 48,035 195,560 61.800 -68.4%
Charges for Services 39,330 71.050 70.000 80,000 100.0%
Total operating revenues: 1,339,199 1,012,796 1,454,200 1,343,350 -7.6%
Operating expenses before depreciation:
Salaries 161.900 127,580 164,018 17S,268 8.7%
Employee benefits 56,713 38,293 53,918 63.027 16.9%
Purchased services 294,226 182,463 283,055 283,228 0.1%
Supplies &. Maintenance 86.344 68,080 9 I.2 72 100.4 7I 10.1%
General & Administrative 347.386 218,840 300,632 289.100 -3.8%
Total Operating Expenses: 946,569 635,256 892,895 914,094 2.4%
I Operating income before depreciation 392,630 377,540 561,305 429,256 -23.5%
Depreciation 402,771 286.850 382,466 381.697 -0.2%
Operating Income (Loss) (10,141) 90,690 178,839 47,559 -73.4%
NOli-operating revenues (expenses)
Interest income 30,462 38.735 8,900 10,400 16.9%
Interest expense (38,206 ) (12,692) (39,142) (35.912) -8.3%
Loss on disposal of fixed assets ( 42.269) 0 0 0 0.0%
Total non-operating revenues (expenses) (50,013) 26,043 (30,242) (25,512) -15.6%
Income (loss) before operating transfers (60,154) 116,733 148,597 22,047 -85.2%
Opeuting tunsfers to (from) other funds 0 0 0 0 0.0%
Net income (loss) (60,154) 116,733 148,597 22,047 -85.2%
Amortization of contributions in aid 372,913 279,681 372,908 372,909 0.0%
Increase (Decrease) in Retained Earnings 312,759 396,414 521,505 394,956 -24.3%
Water/Sewer capital project CY retained eaminl 0 74,610 74,610 0 0.0%
Retained earnings at beginning of year 2,139,657 2,452,416 2,452,416 3,048,531 24.3%
Residual equity transfers 0 0 0 (20,000) 0.0%
Retained earnings at end of year
Water/Sewer Undesignated 2,452,4 16 2,711,770 2,836,861 3,211.817 13.2%
I Water/Sewer Capital Projects 0 21 1.670 21 1.670 211,670 0.0%
Total Retained Earnings 2,452,416 2,923,440 3,048.531 3,423,487 12.3%
CITY OF SEWARD
WATER/SEWER ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Budget Year Ending June 30, 1999
Net Cash Provided By (Used For) Operations 531,063 403,744 -24.0%
Other Uses of Cash
Debt Principal Payments 37,557 (a) 37,454 (b) -0.3%
Capital Outlay 59,250 (c) 124,000 (d) 109.3%
Net Increase (Decrease) in Cash 434,256 242,290 -44.2%
(a) $37,557 represents: Dairy Hill sewer loan principal- $1,312; Lowell Point sewer lagoon loan principal- $36,245
(b) $37,454 represents: Dairy Hill sewer loan principal- $1,312; Lowell Point sewer lagoon loan principal - $36,142
(c) $59,250 represents: Equipment - $9,250; MRRF (water) - $25,000; MRRF (sewer) - $25,000
(d) $124.000 represents: Equipment - $24,000; MRRF (water) - $50,000; MRRF (sewer) - $50,000
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WATER AND SEWER ENTERPRISE FUND
Operating and Residual Equity Transfer Budget
For Budget Year Ending June 30, 1999
FY98
Budget
FY99
Budget
Operating Transfers from Other Funds
o
o
Operating Transfers to Other Funds
o
o
Residual Equity Transfers-In (Out)
o
20,000
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Net Transfers-In (Out)
o
(20,000)
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