HomeMy WebLinkAbout04292024 City Council Laydown - FinanceCity of Seward, Alaska.
Central Treasury Report
02.28.2024
The attached Central Treasury Report provides the unrestricted cash available by fund as of
February 28, 2024. The intent of this report is to provide transparent financial information to the
public. These amounts fluctuate on a daily basis and are reconciled every month; however, these
numbers are not audited. The amounts reports on the agenda statement items for the council
represent the available fund balance/net assets for the impacted funds. This is a longer-term
perspective that takes into account the assets and liabilities of the fund, which results in different
numbers than the Central Treasury Report. Any funds with negative cash on the Central Treasury
Report are either waiting for funding for expenses already paid or are in the process of being
closed out, where the City is required to expend the funds prior to requesting reimbursement for
expenditures; negative cash for a fund does not represent a problem with operations. For
example, when the City conducts repairs following a major disaster declaration, it can take
multiple years before the City receives reimbursement from FEMA for its costs.
Funds in Negative balance:
• Fund 11113 Harbor CPVKPB – Res.2023-066 Funding for Seward City Tours Services.
The City will receive funds from CPV KPB
• Fund 80042 Seward Geothermal Heat Pump Project Grant. The City will be reimbursed
from the State Grant.
• Fund 30201 HEC Pass Through (Healthy & Equitable Communities Grant) The City will
be reimbursed from the State Grant.
• Fund 15340 Electric Critical Infrastructure Fund. Funds will be allocated from the
revenue bond proceeds Res.2022-023.
If you have questions or require additional information, please feel free to contact Finance
Director Sully Jusino at (907)224-4059, or by e-mail at sjusino@cityofseward.net.