HomeMy WebLinkAboutRes2013-081 Sponsored by: Hunt
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CITY OF SEWARD, ALASKA
RESOLUTION 2013-081
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE SMALL BOAT HARBOR ENTERPRISE
FUND BIENNIAL BUDGET FOR CALENDAR YEARS 2014 AND 2015
WHEREAS, the City Manager has submitted to the City Council a proposed biennial
budget for the City of Seward for Calendar Years 2014 and 2015; and
WHEREAS, the biennial budget was reviewed by the City Council in budget work
sessions on September 16, 19, and 24, 2013, which were televised to the public; and
WHEREAS, a public hearing is scheduled on the proposed budget for October 28, 2013
with an additional public hearing and final adoption scheduled for November 12, 2013.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
imp
Section 1. The Harbor Enterprise Fund biennial budget for Calendar Years 2014 and
2015 which is attached hereto and made a part hereof by reference and which contains estimated
revenues and expenses for the period January 1, 2014 - December 31, 2015, 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 12111
day of November, 2013.
THE CITY OF SEWARD, ALASKA
J an Bardarson, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2013-081
AYES: Keil, Shafer, Casagranda, Terry, Squires, Bardarson
NOES: None
ABSENT: None
ABSTAIN: None
VACANT: One
ATTEST:
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ohanna Kil". Fy, CMC
ity Clerk
(City Seal)
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CITY OF SEWARD
SMALL BOAT HARBOR ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 20I4 and 20I5
2013 2014 2015
Budget Budget Budget
Beginning Cash Balance at I/I/I3*: $2,149,227
Cash is provided by (used for):
Change in net position -I,26I,973 -933,887 -870,345
Add expense items not affecting cash
Depreciation I,538,I33 I,579,05I I,577,7I4
Net cash provided by operations $276,I60 $645,I64 $707,369
Other sources (uses) of cash
Debt principal payments -443,588 -469,885 (a) -486,254
Capital outlay -92,899 -175,279 (c) -I96,9I3
Net increase(decrease)in cash -$260,327 $0 $24,202
Estimated ending cash balance: $I,888 900 $I,888,900 $1,913,102
# Ties to CAFR and includes only Harbor Enterprise Fund; excludes related capital projects
(a)$I75K=2000 Bond;$70K=2005 Float Extension Bond;$200K=2006 South Harbor Bond
and$24,885 is Travelift loan reimbursement to motor pool fund.
(b) $175K=2000 Bond; $75K=2005 Float Extension Bond;$2I0K=2006 South Harbor Bond
and$26,254 is Travelift loan reimbursement to motor pool fund.
(c) $57,8I0 Motor Pool contributions. $117,469 to MRRF.No equipment.
(d) $57,8I0 Motor Pool contributions. $139,I03 to MRRF.No equipment.
Note: Capital Renew/Replace Fee estimated at$I60,000 in 2014 and 2015;directly to Harbor MRRF for capital.
SMALL BOAT HARBOR ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
L. and Change in Net Position
For Fiscal Year 20I4 and 20I5
20I2 20I3 20I4 20I5
Actual Budget Budget Budget
Operating revenue:
Moorage I,572,263 I,489,700 I,60I,350 I,637,350
Wharfage 43,783 55,000 48,000 48,000
Boat Lift Fees 90,711 I00,000 112,000 112,000
Power Sales 46I,I23 286,000 360,000 400,000
Passenger Transit Fee 55I,I03 560,000 575,000 575,000
Rents and Leases 356,2I0 326,4I6 34I,872 343,372
Miscellaneous 94,55I I84,5I7 I06,250 I06,250
Total operating revenue $3,I69,744 $3,00I,633 $3,I44,472 $3,22I,972
Operating expense before depreciation:
Salaries&Benefits I,005,I03 I,037,I76 I,023,326 I,052,926
Purchased Services 533,I08 3I3,I53 268,050 290,250
Power for Resale 243,73I 370,300 355,000 365,000
Supplies and Maintenance 6I,472 I50,900 I42,000 I42,000
General and Administrative 327,766 4I5,728 366,078 322,558
Total operating expense: $2,I7I,I80 $2,287,257 $2,I54,454 $2,I72,734
Operating income before depreciation 998,564 7I4,376 990,0I8 I,049,238
imer Depreciation I,08I,063 (a) I,538,I33 (b) I,579,05I (c) I,577,7I4
Operating loss -$82,499 -$823,757 -$589,033 -$528,476
Non-operating revenue (expense)
Interest& other income 475,526 I2,500 20,000 20,000
Interest& other expense -999,097 -290,302 -268,I30 -248,055
Total non-operating revenue (expense) -523,57I -277,802 -248,I30 -228,055
Income (loss) before transfers -$606,070 -$I,I0I,559 -$837,I63 -$756,53I
Transfers in 320,000 320,000 260,000 260,000
Capital contributions and special items I,324,067 0 0 0
Transfers out -599,274 -480,4I4 -356,724 -373,8I4
Change in net position $438,723 -$I,26I,973 -$933,887 -$870,345
Beginning net position 22,096,473 22,535,I96 2I,273,223 20,339,336
Ending net position $22,535,I96, * $2I,273,223 $20,339,336 $I9,468,99I,
* Ties to annual Comprehensive Annual Financial Report
Of total depreciation expense, the following amounts were attributable to capital assets funded with capital contributions
(a) 622,I74 or 58%;(b) $772,I74 or 49%;(c) $954,484 or 60%;( d) $954,484 or 6I%