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HomeMy WebLinkAboutRes2019-101 Sponsored by: Meszaros Public Hearing#1: November 25,2019 • Public Hearing#2: December 9,2019 CITY OF SEWARD,ALASKA RESOLUTION 2019-101 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, ADOPTING THE SEWARD MARINE INDUSTRIAL CENTER (SMIC) ENTERPRISE FUND OPERATING BIENNIAL BUDGET FOR CALENDAR YEARS 2020 AND 2021 WHEREAS, the City Manager has submitted to the City Council a proposed biennial budget for the City of Seward for Calendar Years 2020 and 2021; and WHEREAS, the preliminary biennial budget was reviewed by the City Council in budget work sessions on October 15, October 16, October 25 & November 8, 2019, which were televised to the public; and WHEREAS, a public hearing is scheduled on the proposed budget for November 25, 2019, and a second public hearing and final adoption is scheduled for December 9,2019; and WHEREAS, the 2020 budget includes a rate increase of 1.2% to all rates which are adjusted according to the five-year average Consumer Price Index (CPI) within the Seward Marine Industrial Center (SMIC) Tariff, and a rate increase of 1.2% for 2021 for those same rates,representing the five-year average CPI. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,ALASKA,that: Section 1. The SMIC Enterprise Fund budget for Calendar Years 2020 and 2021, which is attached hereto and made a part hereof by reference and which contains estimated revenues and expenses for the period January 1, 2020 - December 31, 2021, 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 December. CITY OF SEWARD,ALASKA RESOLUTION 2019-101 TH C F SEWARD LASKA Christy Ter ,Mayor AYES: Seese, Butts, McClure, Osenga, Terry NOES: Baclaan, Lane ABSENT: None ABSTAIN: None ATTEST: Brenda J. Ballou MC City Clerk (City Seal,t•°`, , 0 d• `J : • s .' f . i AA� (y j -n „N Yee <m "',. F OF A\�`�•` ,� rtse s c= � SMIC ENTERPRISE FUND Budgeted Statement of Revenues and Expenses and Change in Net Position For Fiscal Year 2020 and 202I 20I8 20I9 2020 202I Actual# Budget Budget Budget Operating revenue: Moorage 8,430 11,000 15,000 15,000 Wharfage 2,666 6,250 6,250 6,000 Boat Lift Fees 210,976 I40,000 200,000 200,000 Power Sales I42,096 4I,000 70,000 70,000 Storage 83,3I8 115,000 105,000 I00,000 Rents and Leases 179,519 I79,745 I79,745 179,745 Miscellaneous 449,570 12,200 13,700 I3,700 Total operating revenue: $I,076,575 $505,I95 $589,695 $584,445 perating expense before depreciation: Salaries&Benefits 115,523 97,405 I0I,771 104,280 Purchased Services 5,078 I08,900 I46,326 I38,827 Supplies and Maintenance 15,9I3 57,500 5I,500 52,530 General and Administrative 468,639 227,398 243,768 230,941 Total operating expense: $605,I53 $49I,203 $543,365 $526,578 Operating income before depreciation 47I,422 I3,992 46,330 57,867 Depreciation 783,463 1,140,259 1,140,259 1,140,259 Operating loss (3I2,04I) (I,126,267) (I,093,929) (I,082,392) Non-operating revenue(expense) Investment income and other 246,90I 0 0 0 Interest expense (I,296 0 0 0 Total non-operating revenue(expense) 245,605 0 0 0 Income(loss)before contributions&transfers (66,436) (I,I26,267) (I,093,929) (I,082,392) Transfers in 322,439 IO2,567 42,492 60,I43 Capital contributions 5,053,932 0 0 0 Transfers out (I26,337) (II5,909) I I6,029` (II7,009' Change in net position $5,I83,598 ($I,I39,609) ($I,I67,466) ($I,I39,258) Beginning net position $42,675,865 $47,859,463 $46,7I9,854 $45,552,388 Ending net position $47,859,463 " $46,7I9,854 $45,552,388 $44,4I3,I30 # Ties to annual Comprehensive Annual Financial Report Of total depreciation expense,the following amounts were attributable to capital assets funded with capital contributions: (a)$505,98I or 65%;(b)$505,980 or 45%;(c)$505,980 or 45%;(d)$482,529 or 43% 36 City of Seward SMIC Enterprise Fund 2020/2021 Biennial Operating Budget Revenue Detail by Line Item 10/31/2019 2016 2017 2018 2019 2019 2020 2019-20 2021 Actual Actual Actual Actual YTD Budget Budget %Chg Budget tevenues 2000 4632 Insurance Recovery 0 0 0 0 0 0 0.00 0 2000 5000 Land Rents&Leases 172,515 174,927 179,519 193,702 179,745 179,745 0.00 179,745 2000 5001 Land Lease Credits (11,241) 0 0 0 0 0 0.00 0 2000 5101 Moorage 23,573 15,566 8,430 37,227 11,000 15,000 36.36 14,000 2000 5102 Wharfage 10,996 7,832 2,666 5,414 6,250 6,250 0.00 6,000 2000 5103 Boat Lift Fees 163,286 182,726 210,976 201,411 140,000 200,000 42.86 200,000 2000 5104 Storage Fees 96,362 87,069 83,318 59,758 115,000 105,000 (8.70) 100,000 2000 5106 SMIC Power Sales 145,029 56,406 142,096 58,587 41,000 70,000 70.73 70,000 2000 5109 Washdown Pad Fees 3,453 5,629 8,004 8,889 8,200 8,200 0.00 8,200 2000 5110 Crane Fees 0 0 0 936 0 0 0.00 1,500 2000 5153 Fuel Pumping Fee 3,908 0 173 0 3,000 3,000 0.00 1,000 2000 5800 Labor&Services 928 1,687 1,544 0 1,000 1,000 0.00 1,500 2000 5802 Equipment Rental 0 0 0 0 0 0 0.00 500 2000 5899 Miscellaneous Revenue 0 0 439,849 96,515 0 0 0.00 1,000 2000 5901 EF Investment Interest 0 1,344 3,541 3,355 0 0 0.00 0 2000 5905 EF Penalties and Interest 0 0 467 0 0 0 0.00--0- 2000 5940 Amortization of Contributions-in-Aid 501,230 505,981 505,981 421,651 505,980 505,980 0.00 482,529 otal Revenues $ 1,110,039 $ 1,039,167 $ 1,586,564 $ 1,087,445 $ 1,011,175 $ 1,094,175 $ 8.21 $ 1,065,974 37 City of Seward SMIC Enterprise Fund 2020/2021 Biennial Operating Budget Expenditure Line Item by Fund 2016 2017 2018 2019 2019 2020 2019-20 2021 Actual Actual Actual Thru 9/30 Budget Budget %Chg Budget Personnel Costs: 6000 Salaries 61,308 55,137 57,767 66,062 54,607 59,139 8.30 60,041 6001Overtime 875 3,927 3,002 2,798 5,228 6,921 32.38 7,053 6100 Medicare 933 993 911 1,008 935 1,034 10.59 1,046 6102 Workers'Compensation 7,062 6,511 6,124 6,604 6,710 7,214 7.51 7,328 6201 Retirement Benefits 0 6,335 14,430 15,927 1,743 1,614 (7.40) 1,640 6202 Health Insurance 31,370 1,369 33,975 44,485 28,182 24,309 (13.74) 26,198 6209 PERS DC Forfeitures 0 0 (686) (798) 0 0 0.00 0 Total Personnel Costs: $ 101,548 $ 74,272 $ 115,523 $ 136,086 $ 97,405 $ 100,231 $ 2.90 $ 103,306 Non-Personnel Costs: 7001 Communications 0 0 0 0 500 500 0.00 510 7002 Postage and Freight 360 152 1,442 140 5,500 5,500 0.00 5,610 7003 Bank and Credit Card Fees 0 0 0 12 0 0 0.00 0 7004 Insurance 14,284 14,235 15,344 16,635 14,400 16,200 12.50 17,238 7006 Legal 65,300 28,714 23,679 596 10,000 15,000 50.00 15,300 7009 Contracted Services 7,221 51,540 94,822 18,243 30,000 40,000 33.33 30,600 7012 Other Special Services 0 0 (246,563) 0 0 0 0.00 0 7015 Utilities 14,756 15,972 14,894 36,462 15,000 17,126 14.17 17,469 7016 Heating Fuel 2,439 3,735 2,238 1,032 5,000 5,000 0.00 5,100 7100 General Power for Resale 153,550 39,974 99,221 35,795 26,000 47,000 80.77 47,000 7102 Power Fuel Costs 0 0 0 0 2,500 0 (100.00) 0 7210 Vehicle Supplies 0 0 0 37 0 0 0.00 0 7211 Gas&Lube 2,990 6,195 7,408 5,201 10,000 8,000 (20,00) 8,160 7215 Operating Supplies 5,856 1,477 474 296 6,500 6,500 0.00 6,120 7216 Maintenance&Repair 13,331 6,748 7,276 3,157 36,000 35,500 (1.39) 36,720 7217 Small Tools&Equipment 2,173 1,082 756 958 5,000 1,500 (70.00) 1,530 7300 Advertising 0 94 0 0 3,000 3,000 0.00 3,060 7302 Travel&Subsistence 0 0 0 532 0 0 0.00 0 7321 Harbor General Indirect Costs 55,262 18,438 65,425 51,503 61,804 64,089 3.70 65,308 7322 Harbor Admin Indirect Costs 57,058 49,225 64,320 59,633 65,054 77,968 19.85 62,678 7323 SMIC General Indirect Costs 111,978 136,749 166,911 112,789 135,347 136,762 1.05 137,087 7324 Gen Fund Indirect Costs 90,913 93,095 96,004 81,283 97,540 98,711 1.20 99,895 7325 Harbor Internal Cost Allocation (111,978) (136,749) (166,911) (112,789) (135,347) (136,762) 1.05 (137,087) 7330 P.I.L,T, 35,803 28,553 36,577 31,202 26,036 26,156 0.46 27,136 7331 Reclass PILT to Transfer-Out (35,803) (28,553) (36,577) (31,202) (26,036) (26,156) 0.46 (27,136) 7900 Depreciation Expense 755,467 756,543 783,463 652,461 1,017,898 806,078 (20.81) 806,078 8015 Interest Expense 0 0 1,296 1,776 0 0 0.00 0 8101Infrastructure 0 0 0 102,422 0 0 0.00 0 8103 Capital Equipment 0 0 0 10,600 0 0 0.00 0 8300 Debt Service Principal 98,008 98,008 98,008 588,050 588,050 0 10( 0.00) 0 Total Non-Personnel Costs: $ 1,338,968 $ 1,185,227 $ 1,129,507 $ 1,666,824 $ 1,999,746 $ 1,247,672 $ (37.61) $ 1,228,376 Total Expenditures $ 1,440,516 $1,259,499 $ 1,245,030 $1,802,910 $2,097,151 $1,347,903 $ (35.73) $ 1,331,682 38 / / k / 0 % 0 / \ aL \ \ \ .. \ .. \ \ \ / / / 5' y » 0 « / \ 0 ; 0 0 3 < / b 0 \ { _ 0 } / } m 2 _ D / q = o D \ cu\ al C 2 s w E w E § m - � - J q CL q § z \ g NJ g C) O _n w o r \ o o A CDE ? 7 V) Ln n 2 - z D 0 m 0 :;ay _0 :;o 0 o A CD = q C q } \ ` p�j ° © A \ o 0 -n _ = c \ OQ \ m 3 / rD § r+ ` ° o o / / Ao Ao a r+ G 7 2 w q w § � @ � § IP. R if" o o 0 0 0 k 0 CD ® CD ® G % 39 CITY OF SEWARD S.M.I.C. ENTERPRISE FUND Budgeted Interfund Transfers Fiscal Year 2020 and 2021 2020 2021 Transfers- Transfers- Transfers- Transfers- In Out In Out General Fund -to cover SMIC deficit 42,492 60,143 General Fund: One-half of land rents and leases 89,873 89,873 Payments-in-Lieu-of-Tax 26,156 27,136 $42,492 $116,029 $60,143 $117,009 40