HomeMy WebLinkAboutRes2011-091 Sponsored by: Administration
is
CITY OF SEWARD, ALASKA
RESOLUTION 2011 -091
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE SEWARD MOUNTAIN HAVEN DEBT
SERVICE 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
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
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 Seward Mountain Haven Debt Service 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 expenditures 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 d Mayo
y
CITY OF SEWARD, ALASKA
RESOLUTION 2011 -091
AYES: Valdatta, Bardarson, Keil, Shafer, Casagranda, Terry, Seaward
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
■ / % / 'ii A a �/
ohanna Kinney, CMC
City Clerk
(City Seal)
'' ®' o�®anaao�� s
•
- --�°..
i • �. „ a: x. r,..:...
•
•
SEWARD MOUNTAIN HAVEN DEBT SERVICE FUND
Budgeted Statement of Revenues, Expenditures, Other Financing
Sources (Uses) and Changes in Fund Balance
For 2012 and 2013
2010 2011 2012
2013
Actual * Budget Budget Budget
Revenues:
Interest earnings
12,775 0
0 0
LTC capital cost reimbursement 2,569,886
I,955,663 I,950,9I3 I,954,4I3
Total revenues $2,582,661 $1,955,663
$1,950,913 $1,954,413
Expenditures:
Debt service principal 0 680,000 7I0,000 750,000
Debt service interest and other costs I,292,662 I,275,663 I,240,9I3
I,204,413
Total expenditures $1,292,662 $1,955,663 $1,950,913 $1,954,413
itor
Excess (deficit) of revenues over expenditures $1,289,999 $0 $0
$0
Operating transfers from other funds 0 0 0
0
Operating transfers to other funds 0 0 0
0
Net change in fund balance $1,289,999 $0 $0
$0
Beginning fund balance $635,682 $1,925,681 $1,925,681
$1,925,681
Ending fund balance $1,925,681 * $1,925,681
$1,925,681 $1,925,680
ilium