HomeMy WebLinkAboutRes2011-089 Sponsored by: Administration
CITY OF SEWARD, ALASKA
RESOLUTION 2011 -089
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE PARKING ENTERPRISE FUND BIENNIAL
BUDGET FOR CALENDAR YEARS 2012 AND 2013
WHEREAS, the Seward City Council met on August 23, 2011 and September 12, 2011
to authorize budget policies and provide budget guidance to the administration, and conducted
extensive work sessions for the purpose of discussing enterprise fund capital infrastructure needs
and rate reviews; and
WHEREAS, on September 12, 2011, the City Manager submitted to the City Council a
proposed biennial budget for the City of Seward for Calendar Years 2012 and 2013; and
WHEREAS, the biennial budget was introduced at the regularly scheduled Council
meeting on September 12, 2011, and work sessions were conducted and televised; and
L. WHEREAS, a public hearing was held on the proposed budget on November 14, 2011
with final adoption scheduled for December 12, 2011.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. The Parking Enterprise Fund biennial budget for Calendar Years 2012 and
2013 which is attached hereto and made a part hereof by reference and which contains estimated
revenues and expenses for the period January 1, 2012 - December 31, 2013, is HEREBY
ADOPTED, and the necessary funds are 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 12
day of December, 2011.
THE CITY OF SEWARD, ALASKA
David Seawa , May r
him
CITY OF SEWARD, ALASKA
RESOLUTION 2011 -089 r.r
AYES: Valdatta, Bardarson, Keil, Shafer, Casagranda, Terry, Seaward
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
C anna Kinney, CMC
y Clerk
(City Seal)
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PARKING ENTERPRISE FUND
Budgeted Statement of Revenue and Expenses
and Change in Net Assets
For 20I2 and 20I3
a..
20I0 2011 20I2 2013
Actual * Budget Budget Budget
Operating revenue - parking fees $192,046 $266,830 $259,650 $260,650
Operating expense:
Salaries & Benefits 110,520 I23,257 I35,792 135,747
Purchased Services 13,000 6,200 7,700 7,970
Supplies and Maintenance 18,943 I9,8I5 3I,375 3I,150
General and Administrative 22,95I 27,645 37,834 38,482
Total operating expense: $I65,414 $I76,9I7 $2I2,70I $213,349
Operating income before depreciation 26,632 89,913 46,949 47,30I
Depreciation 13,638 7,3I3 16,757 16,757
Operating income (ooss) $I2,994 $82,600 $30,192 $30,544
Non - operating revenues (expense)
Interest Income and other 3,487 I2,000 3,500 3,700
*or Total non - operating revenue(expense) $3,487 $I2,000 $3,500 $3,700
Transfers to other funds - $15,364 - $2I,350 - $20,772 - $20,852
Change in net assets $I,1I7 $73,250 $12,920 $13,392
Beginning net assets $50I,870 $502,987 $576,237 $589,157
Ending net assets $502,987 * $576,237 $589,I57 $602,549
* Ties to annual Comprehensive Annual Financial Report
ire.
CITY OF SEWARD
PARKING ENTERPRISE FUND
Budgeted Statement of Cash Flow
For 20I2 and 2013
2011 2012 2013
Budget Budget Budget
Beginning Cash Balance at 1 /1 /11 $387,338
Cash is provided by (used for):
Change in net assets $73,250 $12,920 $13,392
Add expense items not affecting cash
Depreciation 7,313 I6,757 16,757
Net cash provided by operations $80,563 $29,677 $30,149
Other uses of cash
Capital outlay (a) - 13,000 (a) - 178,000 (a) - 13,000 (a)
Net increase (decrease) in cash $67,563 - $148,323 $17,149
Estimated ending cash balance $454,901 $306,578 $323,727
( °) Ties to Comprehensive Annual Financial Report
(a) $13K per year motor pool contribution; $165K in 2012 for patch, seal, stripe.