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CITY OF SEWARD, ALASKA
RESOLUTION 2013-088
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE HOSPITAL 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:
Section 1. The Hospital 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 expenditures 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 12`x'
day of November, 2013.
THE CITY OF SEWARD, ALASKA
can Bardarson, Mayor
AYES: Keil, Shafer, Casagranda, Terry, Squires, Bardarson
NOES: None
ABSENT: None
ABSTAIN: None
�, VACANT: One
CITY OF SEWARD, ALASKA
RESOLUTION 2013-088
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CITY OF SEWARD
HOSPITAL ENTERPRISE FUND
Budgeted Statement of Cash Flow
For 20I4 and 2015
2013 2014 2015
Budget Budget Budget
Beginning Cash Balance at 1/1/13: $945,498
Cash is provided by(used for):
Change in net position (204,916) (173,410) (131,054)
Add expense items not affecting cash
Depreciation 259,9I6 242,672 203,953
Net cash provided by operations $55,000 $69,262 $72,899
Other sources(uses)of cash
Loan repayment for Elec.Health Records 300,000 0 0
Debt principal ($710,000) (a) ($69,262) (b) ($72,899) (b)
Net increase(decrease) in cash (355,000) 0 0
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Estimated ending cash balance $590,498 $590,498 $590,498
(a) Reflects final years' payment of Hospital Bonds which matured in 20I3.
(b) Reflects Seward General Hospital Public Employees'Retirement System debt previously paid by
General Fund. Once hospital bonds matured(20I3),sales tax reserved for healthcare purposes
becomes new source of repayment of SGH PERS debt.
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HOSPITAL ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Changes in Net Position
.. For 20I4 and 20I5
2012 2013 2014 2015
Actual* Budget Budget Budget
Revenues(investment earnings): $730 $10,000 $5,000 $5,000
Operating Expenses:
Hospital contributions for capital needs 200,000 562,457 242,795 462,794
Community Health Center start-up costs 0 225,000(a) 700,000 500,000
Depreciation 1,963,419 259,916 242,672 203,953
Total operating expenses $2,163,419 $1,047,373 $1,185,467 $1,166,747
Non-operating revenues(expense)
Gain(loss)on sales of assets 4,037 0 0 0
Debt service interest (II3,661) (12,425) (65,443) (61,807)
Capital equipment and other - (72,485) - -
Total non-operating revenue(expense) ($I09,624) ($84,9I0) ($65,443) ($6I,807)
a Earnings(loss)before transfers ($2,272,313) ($1,122,283) ($1,245,910) ($1,223,554)
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Operating transfers from other funds I,053,063 1,052,071 1,072,500 1,092,500
Operating transfers to other funds (1,447,039) (134,704) 0 0
Change in net position ($2,666,288) ($204,9I6) ($I73,4I0) ( 3I,054)
(a) Clinic space remodel-$I 50K;CHC Board start-up costs-$75K
*Does not tie to CAFR since City budgets Hospital and LTC separately,and does not budget for PSMCC operations.
The CAFR however,aggregates the City's hospital enterprise fund,LTC enterprise fund,and PSMCC financial statements
into one fund,since PSMCC operational surpluses or deficits accrue to taxpayers.
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