HomeMy WebLinkAboutRes2008-117Sponsored by: Oates
CITY OF SEWARD, ALASKA
RESOLUTION 2008-117
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE ELECTRIC ENTERPRISE FUND BUDGET
FOR CALENDAR YEAR 2009
WHEREAS, on October 27, 2008, the City Manager submitted to the City Council a
proposed budget for the City of Seward for Calendar Year 2009; and
WHF,REAS, the budget was introduced at the regularly scheduled Council meeting on
October 27, 2008, and work sessions were conducted and televised on October 28, October 29,
and October 30 with a final non-televised work session on December 1, 2008; and
WHEREAS, a public hearing was held on the proposed budget on November 24, with
final adoption scheduled for December 8, 2008.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF "THE
,,..
CITY OF SEWARD, ALASKA, that:
Section 1. The Electric Enterprise Fund budget for Calendar Year 2009 which is attached
hereto and made a part hereof by reference and which contains estimated revenues and expenses
for the period January 1 -December 31, 2009, is HEREBY ADOPTED, and the necessary funds
arc hereby appropriated.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 8th
day of December, 2008.
THE CITY OF SEWARD, ALASKA
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`Willard Dunham, Vice Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2008-117
AYES:
NOES:
ABSENT:
ABSTAIN
ATTEST:
Valdatta, Bardarson, Smith, Kellar, Keil, Dunham
None
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ELECTRIC F,NI'ERPRiSE FUND
Budgeted Statement of Revenues and Expenses
And Changes in Retained Earnings
For Fiscal Year 2009
2006 2007 2008 2009 2008-09
Actual ° Actual ° Budget Budget Vaziance % Change
Operating revenue:
Sales:
Residential 2,514,908 2,562,743 2,723,513 2,886,924 163,411 6.0%
Small General Service 1,346,459 1,364,789 1,816,306 1,546,632 30,326 2.0%
Large General Service 3,059,243 3,388,377 3,S 11,821 3,546,939 35, l I S L0°/n
Harbor Power Sales 180,814 159,679 226,800 244,000 17,200 7.6%
industrial Sales 689,902 642,252 650,000 812,659 162,659 25.0%
Street tk Yard Lights 72,777 63,124 74,000 74,000 0 0.0%
Miscellaneous 115,333 2-17,142 149,500 95,500 -54,000 -36.1°,%
Total operating revenue: 7,979,436 8,428,106 8,85I,940 $9,206,654 354,X4 4.0%
Operating expense:
Before depreciation:
Salaries 777,445 738,065 834,596 867,798 33,202 4.0%
Work order charges (salaries] -176,929 -250,927 -100,000 -200,000 -100,000 100.0%
Employeebencfits 439,599 377,126 458,377 441,099 -17,278 -3.8%
Purchased services 406,396 412,908 128,135 4.10,832 12,697 3.0%
Powcrforresale 4,735,862 4,433,942 #,158,141 4,7-15,000 586,859 14.1°/u
Supplies&maintenarxe 946,113 248,205 626,853 544,430 -82,423 -13.1%
Work order charges (supplied -217,821 -210,432 -350,000 -22QOOD 130,000 -37.1
General Yx Admmiscrative 945,325 1,063,306 985,775 1,096,959 111,184 11.3%
Tonal operating expense: $7,855,990 6,812,193 7,04I,877 7,7I6,II8 674,24I 9.6%
op«.~°g ~°=°m< bet°,e a~p«<~~° I23,446 I,6I S,9I3 1,810,063 I,49Q536 -17.7%
Depreciation 1,303,680 iii 1,342,861 (e) 1,340,375 (:~ 1,38.1,464 ids 3.3%
Earnings from operations - I,I80,234 273,082 469,688 I06,072 -77.4%
Non-operating revenue (expense
interest income 267,041 281,001 210,000 210,000 0.0%
Interest expense -90,069 80,369 -383,304 -370,545 -3.3%
Otherrevcnuc(expense; 1,220,125 23,581 4,176 2,643 -36.7°ib
Totil non-opmting cevmues (up<nsu) $ I,397,097 $384,95 I -$ I69,I28 -$ I57,902 -6.6%
Eazniugs befoae conuibutioiu and tnusf¢s $216,863 $658,003 $300,560 -$51,830 -I 17.2%
Capital contribations 313,536 391,835 0 0 0.0%
Transfers to other fiends -1,255,319 -1,015,717 -735,955 -1,059,916 44.0%
Change in nee risers -$724,920 $34,I2I -$435,395 -$I,I I I,746 155.3%
Begirming net assets $23,989,073 $23,264,IS3 $23,298,274 $22,862,879 -L9%
Ending net users ° $23,264,I53 $23,298,274 $22,862,879 $2I,75I,I33 -4.9%
° Ties to annu.il Comprehervsive Annual Financial Repot[
Of total depreciation expense, the following amounts were anrihutxble to capital assets funded with capital contributions:
(a) $806,044 or 62%; (b) $822,006 or 61 %; (c) $814,543 or 6 l %; (d) 845,323 or 63°/n
CITY OF SEWARD
ELECTRIC ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 2009
2008 2009 2008-09
Budget Budget % Change
Beginning Cash Balance at I/I/08 (e): $2,706,708
Cash is provided by (used for:
Change in net assets -$435,395 -$1,111,746 -I55.3%
Add expense items not affecting cash
Depreciation 1,340,375 1,384,464 3.3%
Net cash provided by operations $904,980 $272,X8 -69.9%
Other uses of cash
Debt principal payments -363,434 (a) -305,000 (c) I6.I%
Generator Exhaust /ROW clearing -515,788 -500,000
Capital outlay -3I I,000 (b) -148,400 (d) 52.3%
Net increase (decrease) in cash -$285,242 -$680,682 I38.6%
Estimated ending cash balance $2,421,466 $I,740,784
(a) $363,434 represents: I995 bond refunded in 2005 - $205,000; New electric shop & generators - $I58,434.
(b) $3I I,500: Work order costs = $76,500 ($450K x I7%); Equipment - $I57,500; Motor Pool - $77K; No Depreciation reserves
(c) $305,000 represents: I99S bond refuutded in 2005 - $2I5,000; New electric shop & generators - $90,000.
(d) $I48,400 represents: Work order costs = $71,400; Motor Pool - $77,OW; No Depreciation reserve contribution.
(e) Ties to CAFR and includes only Electric Enterprise Fund; excludes related capital projects. See below.
CITY OF SEWARD
ELGCTRIC ENTEKPRISE FUND
Budgeted Cash versus Capital Needs
For Fiscal Year 2009
2008 2009
Estimated Ending cash balance at I2/3I: $2,42I,466 $I,740,784
Cuh Balance -Electric Fund & Related Capital Projects (9/30/08):
Fund SOI -Electric Enterprise Fund 2,625,006
Fund 502 -Major Maintenance, Repau & Keplacemetu 838,105 Intended for Generator project
Fund 505 -Electric Generator Project 5,848,703 Bond proceeds
Fund Z08 -Transmission Line 712,540 Designated for capital project
Total Electric-related Cash: SI0,024,354
Electric
Fort Raymond -fire protection system repair/replace $31,500
Electric Generators and shop 8,250,000
Fort Raymond - switehgear improvements 105,000
Switchgear improvements & convert #3 to 4160v 210,000
Repaint/paint radiators 4/S 22,000
Security fence at Ft. Raymond substation 68,250
Transfomter maintenance 31,500
Upgrade 69kV transmission line -Mile 3.5 to substation 1,500,000
TN67 -replace pole 42,000
TN64 replace broken guy wires 10,500
T210 -and Grouse Lake Road -repair broke strands 5,250
Replace broken bells (mile IO-I4) 21,000
Right-of-Way maintenance 550,000
Camelot -URD reFilacement 220,000
Crown Point to Victor Creek reframe OHD 82,500
Lost Lake -URD replacement 55,000
Victor Creek -URD replacement 110,000
Relocate exhaust stack off of Unit 3 building roof 66,000
Purchase 9 mega-watts of Bradley Lake power Gom MLtkP 1,100,000
SMIC loop distribution system 55,000
Update sectionalising study & purchase oil circuit redosure 132,000
Install ZSkV underground across Snow River 450,000
Convert Transmission Line to 115kV 12,000,000
Extend the 12.SkV distribution line on Nash Road 165,000
Upgrade Vtaor Creek ZSkV line 110,000
Pnonty 1 - 60' Alter bucket Huck (indaded in Mutnr Pnnl~ 450,000
Priority 2 - 4 x 4 Pickup m+ek (included in Motor Pool) 30,000
Priorit}' 3 -Miscellaneous ttst equipment 60,000
Priority 4 - Wirc trailer 3Q,Q00
Prioity ,5 -Excavator (included in Motor Puny 40,000
Priority G -Automated meter reading system 100,000
Priunty 7 - Replaec overhead line along lagoon with underground 150,000
Priority K -Equipment trailer 5Q,(x~
Priority 9 -Inventory and Engineering Soltware 3$,000
Priority Ill- Backhoe/,cmall cxpvrtor 60,000
Priority I 1 - Padnrountcd three-Phacc swuches (quantity f<wr) 6Q000
PrAxin~ 12 -Security upgrades; master keyed s~stern & camerae 10,000
Priority 13 - Argn or two snow machines and two four-wheelers 30,000
$26,797,500