HomeMy WebLinkAboutRes2013-089 Sponsored by: Hunt
Imp
CITY OF SEWARD, ALASKA
RESOLUTION 2013-089
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE SEWARD MOUNTAIN HAVEN
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 Seward Mountain Haven 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`1'
day of November, 2013.
THE CITY OF SEWARD, ALASKA
can Bardarson, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2013-089
AYES: Keil, Shafer, Casagranda, Terry, Squires, Bardarson
NOES: None ...i
ABSENT: None
ABSTAIN: None
VACANT: One
ATTEST:
/ 1
.: .a.L_✓RA.
,I i hanna °fey, CMC
ity Clerk
(City Seal)
'' gs�
• 0\ ®
•
•
• : r
j i .rG- a
Mal
**,/, try F t
G4 .
CITY OF SEWARD
SEWARD MOUNTAIN HAVEN ENTERPRISE FUND
Budgeted Statement of Cash Flow
1m For 20I4 and 20I5
2013 2014 2015
Budget Budget Budget
Beginning Cash Balance at 1/1/13: $1,025,189
Cash is provided by(used for):
Change in net position (1,272,677) (567,383) (828,021)
Add expense items not affecting cash
Depreciation 2,022,677 I,930,35I I,653,02I
Net cash provided by operations $750,000 $1,362,968 $825,000
Other sources(uses)of cash
Debt principal (750,000) (a) (785,000) (a) (825,000) (a)
Reimbursement from PSMC for rate settlement - 2,343,563 -
Reimburse Water Fund for bond reserve - (I,973,360) -
ihows
Capital outlay - -
Net increase (decrease) in cash $0 $948,171 $0
Estimated ending cash balance $1,025,189 $1,973,360 $1,973,360
(a) Seward Mountain Haven revenue bonds.
SEWARD MOUNTAIN HAVEN ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Changes in Net Position
i`` For 20I4 and 20I5
2012 2013 2014 2015
Actual * Budget Budget Budget
Revenues:
Interest earnings 7,705 0 0 0
LTC capital cost reimbursement 2,987,911 1,954,413 2,529,006 1,950,788
Total revenues $2,995,616 $1,954,413 $2,529,006 $1,950,788
Expenses:
Debt service interest and other costs I,973,I70 1,204,413 1,I66,038 I,125,788
Depreciation 2,042,958 2,022,677 1,930,351 1,653,021
Total expenses $4,016,128 $3,227,090 $3,096,389 $2,778,809
Excess(deficit)of revenues over
expenditures (1,020,512) (1,272,677) (567,383) (828,021)
Operating transfers from other funds 0 0 0 0
I
rim Operating transfers to other funds 0 0 0 0
Change in net position (1,020,512) (1,272,677) (567,383) (828,021)
# Does not tie to annual Comprehensive Annual Financial Report since that report also includes
operations from PSMC. This schedule includes only City's enterprise fund data.
him.