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CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-062
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE HOSPITAL DEBT SERVICE FUND BUDGET
FOR THE SIX-MONTH PERIOD BEGINNING JULY 1, 1999
WHEREAS, on April 26, 1999 the City Manager submitted to the City Council a
proposed budget for the City of Seward for the six-month period from July 1 through December
31, 1999; and
WHEREAS, the six-month budget represents a short budget during the transition period in
which the City's fiscal year will change from a July 1 - June 30 fiscal year to a January 1 - Decelllber
31 fiscal year, effective January 1, 2000;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
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Section 1. The Hospital Debt Service Fund budget for the six-month period beginning July
1, 1999 which is attached hereto and made a part hereof by reference and which contains estimated
revenues and expenditures for the period July 1 - December 31, 1999, is HEREBY ADOPTED.
Section 2. This resolution shall take effect July 1, 1999.
PASSED AND APPROVED by the City Council ofthe City of Seward, Alaska, this 24th day
of May, 1999.
THE CITY OF SEWARD, ALASKA
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Lowell R. Satin, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-062
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Gage, King, Off Shafer, Satin
None
None
None
ATTEST:
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Patrick Reilly
City Clerk
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HOSPITAL DEBT SERVICE FUND
Statement of Revenues, Expenditures, Other Financing
Sources (Uses) and Changes in Fund Balance
I For Six-Month Budget Period Ending December 31, 1999
Six-month
FY97 FY98 FY99 Budget FY99-00
Actual Actual Budget 7/1-12/31/99 -%Chg
Revenues (investment earnings): 6,305 2,759 0 3.000 100.0%
Expenditures:
Debt Service Principal 0 0 208,546 205,000 -1. 7%
Debt Service Interest 0 67,638 479,391 198,978 -58.5%
Total expenditures $0 $67,638 $687,937 $403,978 41.3%
Excess of revenues over expenditures $6,305 ($64,879) ($687,937) ($400,978) 41.7%
I Operating transfers from other funds 0 184,927 637,252 401.667 -37.0%
Excess of revenues and other sources
over expenditures and other uses $6,305 $120,048 ($50,685) $689 101.4%.
Fund Balance at beginning of year 115,979 122,284 242,332 191,647 -20.9%
Fund Balance at end of year
Reserved for debt service 122,284 242,332 191,647 192,336 -0.4%
Total Fund Balance $122,284 $242,332 $191,647 $192,336 -0.4%
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