HomeMy WebLinkAboutRes1999-064
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-064
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE WATER AND SEWER ENTERPRISE 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 -
December 31 fiscal year, effective January 1, 2000;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE,
CITY OF SEWARD, ALASKA, that:
Section 1. The Water and Sewer Enterprise Fund budget for the six-l1\onth period beginning
July 1, 1999 which is attached hereto and made a part hereof by reference and which contains
estimated revenues and expenses 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 of the City of Seward, Alaska, this 24th day
of May, 1999.
THE CITY OF SEWARD, ALASKA
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-064
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Gage, King, Off Shafer, Satin
None
None
None
ATTEST:
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Patriok Rcilly /
City Clerk
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W ATERlSEWER ENTERPRISE FUND
Statement of Revenues and Expenses
. and Changes in Retained Earnings
For Six-Month Budget Period Ending December 31, 1999
Six-montb
FY97 FY98 FY99 Budget FY99-OO
Actual Actual Budget 7/1-12131/99 o;.Cbg
Operating revenues:
Residential 567,832 572,299 573,800 287,900 -49.8%
Small General Service 118,423 134,903 138,250 66,800 . -51.7%
Large General Service 273,494 244,356 243,500 129,050 -47.0%
SMIC Power Sales 120,283 136,870 116,000 57,000 -50.9%
Industrial Sales 110,511 122,429 130,000 70,000 -46.2%
Miscellaneous 109,326 77,889 61,800 25,250 -59.1%
Charges for Services 39,330 143,780 80,000 75,000 -6.3%
Total operating revenues: $1,339,199 $1,432,526 $1,343,350 $711,000 -47.1%
Operating expenses before depreciation:
Salaries 161,900 171,086 178,268 90,038 -49.5%
Employee benefits 56,713 50,085 63,027 33,473 -46.9%
Purchased services 294,226 269,602 271,752 146,325 -46.2%
Supplies & Maintenance 86,344 91,803 116,978 63,025 -46.1%
General & Administrative 347,386 303,810 289,100 185,853 -35.7%
Total Operating Expenses: $946,569 $886,386 $919,125 $518,714 -43.6%
I Operating income before depreciation 392,630 546,140 424,225 192,286 -54.7%
Depreciation 402,771 383,872 381,697 232,570 -39.1%
Operating Income (Loss) ($10,141 ) $162,268 $42,528 ($40,284) -194.7%
Non-operating revenues (expenses)
Interest income 30,462 64,609 10,400 19,000 82.7%
Interest expense (38,206) (36,338) (35,912) (34,292) -4.5%
Loss on disposal of fixed assets (42,269) 0 0 0 0.0%
Total non-operating revenues (expenses) ($50,013) $28,271 ($25,512) ($15,292) -40.1 %
Income (loss) before operating transfers ($60,154) $190,539 $17,016 ($55,576) -426.6%
Operating transfers (to) from other funds 0 0 0 (76,840) -100.0%
Net income (loss) ($60,154) $190,539 $17,016 ($132,416) -878.2%
Amortization of contributions in aid .372,913 372,908 372,909 186,454 -50.0%
Increase (Decrease) in Retained Earnings $312,759 $563,447 $389,925 $54,038 -86.1%
Retained earnings at beginning of year $2,139,657 $2,452,415 $3,015,863 $3,385,788 12.3%
Residual equity transfers 0 0 (20,000) 0 0.0%
Retained earnings at end of year
Water/Sewer Undesignated 2,452,4 I 6 3,015,862 3,385,788 3,439,826 0.0%
. Total Retained Earnings $2,452,416 $3,015,862 $3,385,788 $3,439,826 1.6%
CITY OF SEWARD
W A TERlSEWER ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Six-Month Budget Period Ending December 31, 1999
Six-month
FY99 Budget FY99-00
Budget 7/1-12/31/99 %Chg
Cash is provided By (Used For):
Net Income/(Loss) $17,016 ($132,416) -878.2%
Add Expense Items Not Affecting Cash
Depreciation 381,697 232,570 -39.1%
Net Cash Provided By (Used For) Operations $398,713 $100,154 -74.9%
Other Uses of Cash
Debt Principal Payments 37,454 (b) 39,012 (a) 4.2%
Capital Outlay 135,476 (d) 68,000 (c) -49.8%
Net Increase (Decrease) in Cash $225,783 ($6,858) -103.0%
(a) $39,012 represents: Dairy Hill sewer loan principal- $1,312; Lowell Point sewer lagoon loan principal- $37,700
(b) $37,454 represents: Dairy Hill sewer loan principal- $1,312; Lowell Point sewer lagoon loan principal - $36,142
(e) $68,000 represents: Equipment - $18,000; MRRF (water) - $25,000; MRRF (sewer) - $25,000
(d) $135,476 represents: Equipment - $35,476; MRRF (water) - $50,000; MRRF (sewer) - $50,000
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WATER AND SEWER ENTERPRISE FUND
Operating and Residual Equity Transfer Budget
For Six-Month Budget Period Ending December 31,1999
FY99
Budget
**Six-montb
Budget
Operating Transfers from Other Funds
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Operating Transfers (to) Other Funds
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(76,840) (a)
Residual Equity Transfers-In (Out)
(20,000)
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Net Transfers-In (Out)
($20,000)
($76,840)
(a) The City Council elected to have the Water & Sewer Enterprise Fund begin repaying $1,603,350 to
the General Fund for debt that was written offby the General Fund in FY90. The intention is that in this
six-month budget, $76,840 will be paid directly to the General Fund, but in subsequent budget years, the
Water & Sewer Fund will pay the Capital Acquisition Fund so that these monies will not be used to fund
ongoing General Fund operating costs.
.. Represents six-month budget for period 7/1/99 - 12/31/99