HomeMy WebLinkAboutRes2015-099 Sponsored by: Hunt
Public Hearing: October 26,2015
Additional Public Hearing: November 9,2015
Adoption: November 9, 2015
CITY OF SEWARD,ALASKA
RESOLUTION 2015-099
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE HOSPITAL ENTERPRISE FUND BIENNIAL
BUDGET FOR CALENDAR YEARS 2016 AND 2017
WHEREAS, the City Manager has submitted to the City Council a proposed biennial
budget for the City of Seward for Calendar Years 2016 and 2017; and
WHEREAS, the preliminary biennial budget was reviewed by the City Council in budget
work sessions on October 7, 8, 9 and 16, 2015, which were televised to the public; and
WHEREAS, a public hearing is scheduled on the proposed budget for October 26 with
public hearing and final adoption scheduled for November 9, 2015; and
WHEREAS, the 2016 and 2017 budgets include $200,000 for hospital capital
contributions necessary to replace major assets at the hospital and Seward Mountain Haven, with
an additional $155,889 set aside in 2016 and $161,379 set aside in 2017 for the purpose of future
facility expansion,to be made available to the hospital for capital needs as a first priority; and
WHEREAS, the 2016 and 2017 budgets include $500,000 each year for Seward
Community Health Center operating needs, with any unspent funds in 2017 accruing to a newly
established health facility expansion account to address the need for expansion for both the clinic
and hospital.
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 2016 and
2017 which is attached hereto and made a part hereof by reference and which contains estimated
revenues and expenditures for the period January 1, 2016 - December 31, 2017, 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 9th
day of November, 2015.
CITY OF SEWARD,ALASKA
RESOLUTION 2015-099
THE CITY OF SEWARD, ALASKA
2ta/Yu) 4' . 0
can Bardarson, Mayor
AYES: Keil, Casagranda, Squires, Butts, Altermatt, McClure, Bardarson
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
J Jhanna K er-y, CMC
ity Clerk
(City Seal)
............ 44%
• • SEAL -
OF "�
HOSPITAL ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Changes in Net Position
For 2016 and 2017
2014 2015 2016 2017
Actual Budget Budget Budget
Revenues(investment earnings): $0 $5,000 $5,000 $5,000
Operating Expenses:
Hospital contributions for capital needs 242,795 462,794 200,000 200,000
Health Facility Expansion 155,889 26I,379
Community Health Center 850,000 (a, 500,000 500,000 400,000
Purchased services 38,350
Depreciation 242,672 203,953 203,953 203,953
Total operating expenses $1,373,817 $1,166,747 $1,059,842 $1,065,332
Non-operating revenues(expense)
Gain(loss)on sales of assets 0 0 0 0
Debt service interest (61,807) (61,807) (57,979) (53,95I)
Capital equipment and other -
Total non-operating revenue(expense ($6I,807) ($6I,807) ($57,979) ($53,95I)
Earnings(loss)before transfers ($1,435,624) ($1,223,554) ($1,112,821) ($1,114,283)
Operating transfers from other funds 1,I36,752 I,092,500 1,I43,750 1,150,000
Operating transfers to other funds 0 0 0 0
Change in net position ($298,872) ($I31,054) $30,929 $35,717
(a) Clinic space remodel-$150K;CHC start-up costs-$700,000K
*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.
CITY OF SEWARD
HOSPITAL EN 1 ERPRISE FUND
Budgeted Statement of Cash Flow
For 20I6 and 2017
2015 2016 2017
Budget Budget Budget
Beginning Cash Balance at 1/1/15: $600,058
Cash is provided by(used for):
Change in net position (.131,054) 30,929 35,717
Add expense items not affecting cash
Depreciation 203,953 203,953 203,953
Net cash provided by operations $72,899 $234,882 $239,670
Other sources(uses)of cash
Debt principal ($72,899) ($69,262) ($72,899)
Net increase(decrease)in cash 0 165,620 166,771
Estimated ending cash balance $600,058 $765,678 $932,449
CITY OF SEWARD
HOSPITAL ENTERPRISE FUND
2016 and 2017 Debt Service Schedule
Balance 2016 Budget Balance
Description Interest Rate @ 1/01/16 Principal Interest Total @ 12/31/16 Term
Hospital PERS loan-F03000 5.25% 808,172 56,148 42,429 98,577 752,024 2007-2026
Hospital PERS loan-F15001 5.25% 296,195 20,578 15,550 36,128 275,617 2007-2026
Totals: $1,104,367 $76,726 $57,979 $134,705 $1,027,641
Balance 2017 Budget Balance
Description Interest Rate @ 1/01/17 Principal interest Total @ 12/31/17 Term
Hospital PERS loan-F03000 5.25% 752,024 59,095 39,481 98,576 692,929 2007-2026
Hospital PERS loan-F15001 5.25% 275,617 21,658 14,470 36,128 253,959 2007-2026
•
Totals: $1,027,641 $80,753 $53,951 $134,704 $946,888
CITY OF SEWARD
HOSPITAL DEBT SERVICE FUND
Budgeted Interfund Transfers
Fiscal Year 2016 and 2017
2016 2017
Transfers- Transfers- Transfers- Transfers-
In Out In Out
From sales tax devoted to healthcare 1,143,750 1,150,000
$1,143,750 $0 $1,150,000 $0