HomeMy WebLinkAboutRes2001-148
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CII'Y 01' Sl:W ARD, ALASKA
aaJOLUTION 2001-148
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE PARKING REVENUE ENTERPRISE FUND
BUDGET FOR CALENDAR YEAR 2002
WHEREAS, on October 8, 2001, the City Manager submitted to the City Council a proposed
budget for the City of Seward for Calendar Year 2002; and
WHEREAS, the City Council met in work sessions to review the proposed budget on
October 15, 16, 17, and 18,2001; and
WHEREAS, public hearings were held on the proposed budget on November 5, November
14, and Novemberl9, 2001;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The Parking Revenue Enterprise Fund budget for Calendar Year 2002 which is
attached hereto and made a part hereof by reference and which contains estimated revenues and
expenses for the period January 1 - December 31, 2002, is HEREBY ADOPTED.
Section 2. This resolution shall take effect January 1, 2002.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 19'" day
of November, 2001.
THE CITY OF SEWARD, ALASKA
)12, (~;2 ;t'1.J
Edgar Blatchford, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2001-148
AYES: Blatchford, Brossow, Branson, Calhoon, Clark, Orr, Shafer
NOES: None
ABSENT: None
ABSTAIN: None
A TrEST:
,~vA:/~
Patrick Reilly
City Clerk
(City Sa\~mH'.,.I"
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PARKING REVENUE ENTERPRISE FUND
Budgeted Statement of Revenue and Expenses
and Changes in Retained Earnings
For Fiscal Year 2002
FY99 FYOO FYOl FY02 FYOI-02
Actual Actual Budget Budget % Change
Operating revenues:
Parking revenue 55.839 121.592 120.000 100.400 -16.3%
Contract fees 34,823 0 0 0 0.0%
Total operating revenues: $90,662 $121,592 $120,000 $100,400 -16.3%
Operating expenses:
Salaries 14,490 35.421 33.777 33.777 0.0%
Employee Benefits 1.895 6.584 2.746 2,726 -0.7%
Purchased Services 19.051 15,375 22.83 I 77,881 241.1 %
Supplies and Maintenance 41,416 15.758 13.000 9,500 -26.9%
General and Administrative 10.358 12.851 17.925 17.925 0.0%
Total operating expenses: $87,210 $85,989 $90,279 $141,809 57.1%
I Operating income before depreciation 3,452 35,603 29,721 (41,409) -239.3%
Depreciation 0 43.813 43.813 25.614 100.0%
Operating Income (Loss) $3,452 ($8,210) ($14,092) ($67,023) 375.6%
Non-operating revenues (expenses)
Interest Income 1,657 4,240 0 0 0.0%
Interest Expense 0 0 0 0 0.0%
Total non-operating revenues (expenses) $1,657 $4,240 $0 $0 0.0%
Operating transfers (to) from other funds $0 $0 $0 $0 0.0%
Net Income (Loss) $5,109 ($3,970) ($14,092) ($67,023) 375.6%
Amortization of CIA 0 42.589 42,589 21.295 0.0%
Increase (decrease) in Retained Earnings $5,109 $38,619 $28,497 ($45,728) -260.5%
Retained earnings at beginning of year $35,589 $84,079 $122,698 $151,195 23.2%
I Increase in Retained Earnings from Six-Month Period $43,381 $0 $0 $0 0.0%
Retained earnings at year-end $84,079 $122,698 $151,195 $105,467 -30.2%
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CITY OF SEWARD
PARKING REVENUE ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 2002
FYOl FY02 FYOI-02
Budget Budget % Change
Beginning Cash Balance at 1/1/01: $65,953
Cash is provided By (Used For):
Net Income/(Loss) ($14,092) ($67,023) 375.6%
Add Expense Items Not Affecting Cash
Depreciation 43,813 25,614 -41.5%
Net Cash Provided By (Used For) Operations $29,721 ($41,409) -239.3%
Other Uses of Cash
Debt Principal Payments 0 0 0.0%
Capital Outlay (IO,OOO)(a) 0 -100.0%
Net Increase (Decrease) in Cash $19,721 ($41,409)(b) -310.0%
Estimated Ending Cash Balance $85,674 $44,265
(a) Represents $ 10,000 for purchase of used vehicle
(b) Includes $60,000 for striping and sealing parking lots
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HOSPITAL DEBT SERVICE FUND
Budgeted Statement of Revenues, Expenditures, Other Financing
Sources (Uses) and Changes in Fund Balance
For Fiscal Year 2002
FY99
Actual
FYOO
Actual
FYOl
Budget
FY02
Budget
FYOI-02
% Change
Revenues (investment earnings):
$14,070
$25,352
$0
$28,000
0.0%
Expenditures:
Debt Service Principal 175,000 235.000 265.000 300,000 13.2%
Debt Service Interest 401,893 388.217 377,055 364.070 -3.4%
Total expenditures $576,893 $623,217 $642,055 $664,070 3.4%
I Excess of revenues over expenditures ($562,823) ($597,865) ($642,055) ($636,070) 0.9%
Operating transfers from other funds 656,586 732,945 758,000 606,333 -20.0%
Excess (deficiency) of revenues and other
sources over expenditures and other uses $93,763 $135,080 $115,945 ($29,737) -125.6%
Fund Balance at beginning of year $242,332 $429,829 $523,563 $639,508 22.1%
Increase in Fund Balance from Six-Month Period 93.734 0 0 0 0.0%
Fund Balance at end of year
Reserved for debt service
Total Fund Balance
429,829
$429,829
564,909
$564,909
639.508
$639,508
609,771
$609,771
-4.6%
-4.6%
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Has iul G.O. Bond
CITY OF SEWARD
HOSPITAL DEBT SERVICE FUND
Budgeted Debt Service Schedule
For Fiscal Yeat 2002
FY99
ual
FYOO
ctual
FYOl
a
FY02
FYOI-02
GL Account Acx A BudO'et BuaQ.et % Chan\!e
5810 principal 175.000 2~5.ooo 265.000 ~oo'ooo 1:).2%
5820 Intetest 401.39~ ~88.213 ~ 77,055 ~64.070 _~.4%
Totals: 576.393 623,218 642.055 664.070 3.4%
FY2002 Budget
Interest
Interest rate
:;64,070
664.070
Tenn
4.5% - 6.75%
1997 - 10/2013