HomeMy WebLinkAboutRes2001-153
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CITY OF SEWARD, ALASKA
RESOLUTION 2001-153
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE SMALL BOAT HARBOR 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 November 19, 2001;
NOW THEREFORE, BE IT RESOLVED BY mE CITY COUNCIL OF mE
CITY OF SEWARD, ALASKA, that:
Section 1. The Harbor 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 19th
day of November, 2001.
THE CITY OF SEWARD, ALASKA
lL, (?L-t~....
Edgar Blatchford, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2001-153
AYES: Blatchford, Brossow, Branson, Calhoon, Clark, Ocr, Shafer
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
~~~
Patrick Reilly
City Clerk
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SMALL BOAT HARBOR ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
I and Changes in Retained Earnings
For Fiscal Year 2002
FY99 FYOO FYOl FY02 FYOI-02
Actual Actual Budget Budget % Change
Operating revenues:
Moorage 965,440 864,788 935,000 940.522 0.6%
Wharfage 30,222 70,839 40.000 40.000 0.0%
Boat Lift Fees 227,621 120,924 90,000 100.000 II.I%
Power Sales 160,584 137,661 155,000 162,500 4.8%
Storage 91,953 0 0 0 0.0%
Rents and Leases 287.484 244,919 242.960 242,960 0.0%
Miscellaneous 130,368 69,393 106,600 104.100 -2.3%
Total operating revenues: $1,893,672 $1,508,524 $1,569,560 $1,590,082 1.3%
Operating expenses before depreciation:
Salaries 389,250 341.676 392.3 II 387,752 -1.2%
Employee Benefits 168,802 148,512 169.656 172,592 1.7%
Purchased Services 213.916 236.397 294,903 325,578 IOA%
Power for Resale 120.178 100,863 120.000 130,000 8.3%
Supplies and Maintenance 163.261 59.076 92.500 II 7.500 27.0%
General and Administrative 574. I 79 344.06 I 306,689 294,55 I -4.0%
Total Operating Expenses: $1,629,586 $1,230,585 $1,376,059 $1,427,973 3.8%
I Operating income before depreciation 264,086 277:J39 193,501 162,109 .16.2%
Depreciation 1,349.070 397.992 398.825 456,985 14.6%
Operating Income (Loss) ($I,084:J84) ($120,053) ($205,324) ($294,876) 43.6%
Non-operating revenues (expenses)
Interest Income 73,331 186,488 5,200 5,200 0.0%
Interest Expense (170,638) 0 0 (160,518) 100.0%
Other revenues (expenses) 460,125 301 0 0 0.0%
Total non-operating revenue (expense) 362,818 186,789 5,200 (155,318) .3086.9%
Income (loss) before operating transfers ($722,166) $66,736 ($200,124) ($450,194) 125.0%
Operating transfers from other funds 0 0 9,651 0 0.0%
Operating transfers to other funds ( 137.705) (132,460) (131.480) (131,480) 0.0%
Net income (loss) ($859,871) ($65,724) ($321:J53) ($581,674) 80.7%
Amortization of CIA 1.193.163 335,09 I 340.092 444.108 30.6%
Increase in R/E for capitalized assets in other funds 123.100 1.447,251 0 0
Increase (decrease) in retained earnings $456,392 $1,716,618 $18,139 ($137,566) .858.4%
Retained earnings at beginning of year $1,154,570 $615,822 2,332,440 2,315,579 .0.7%
I Increase/COecrease) in R/E fromSix-Momh Period ($679.016) 0 0 0 0.0%
Prior Period Adjustment (283.181) 0 0 0 0.0%
Residual equity transfers (32.943) 0 (35.000) 0 0.0%
Retained earnings at end of year
Harbor Undesignated 615,822 2,332,440 2.3 I 5,579 2,178,013 -5.9%
Total Retained Earnings ~ $2,332.440 $2,315.579 $2.178.013 -5.9%
CITY OF SEWARD
SMALL BOAT HARBOR 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: $449,499 (a)
Cash is provided By (Used For):
Harbor Renovation Bond Fund transfer to Harbor 0 248,518
Net Income/(Loss) ($321,953) ($581,674) -80.7%
Add Expense Items Not Affecting Cash
Depreciation 398,825 456,985 14.6%
Net Cash Provided By (Used For) Operations $76,872 $123,829 61.1 %
Other Uses of Cash
Debt Principal Payments 0 (90,000) (c) 0.0%
Capital Outlay (489 ,699)(b) (70,500)(d) -100.0%
Net Increase (Decrease) in Cash ($412,827) ($36,671) -91.1 %
Estimated Ending Cash Balance: $36,671 ~O
(a) Includes only harbor enterprise fund; excludes related capital projects
(b) $478,500 harbor renovation. $11.200 equipment
(c) Float & Fish Cleaning Stations bond
(d) $31,000 MRRF. $39,500 Equipment
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