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CITY OF SEWARD, ALASKA
RESOLUTION NO. 97-068
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE WATER AND SEWER ENTERPRISE FUND
BUDGET FOR THE FISCAL YEAR BEGINNING JULY 1, 1997
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The city Water and Sewer Enterprise Fund budget for the fiscal year beginning
July 1, 1997, which is attached hereto and made a part hereof by reference, and which contains
estimated Water and Sewer Enterprise Fund revenues and expenditures for Fiscal Year 1998, is
HEREBY ADOPTED.
Section 2. The Water and Sewer Enterprise Fund shall be charged interest on debt owed to
General Fund at a rate equal to and adjusted monthly in accordance with the rate set forth in the
Bond Buyer Index for Twenty Year General Obligation Bonds.
Section 3. This resolution shall take effect July 1, 1997.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, this 9th day of June, 1997.
THE CITY OF SEWARD, ALASKA
AYES:
NOES:
ABSENT:
ABSTAIN:
Anderson, Bencardino, Blatchford, Clark, Crane, Keil, King
None
None
None
ATTEST:
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Patricia 1. Jones, CMC
Acting City Clerk
(City Seal)
.
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WATER/SEWER ENTERPRISE FUND
STATEMENT OF REVENUES AND EXPENSES
AND CHANGES IN RETAINED EARNINGS
For Budget Year Ending June 3D, 1998
FY96
FY97
FY97
FY98
Approved FY97-98
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Actual Thru 2/97 Budget Bud..et 0;. CIuz
Operating revenues:
Sales:
Residential 551,863 378,119 568,016 568,140 0.0%
Small General Service 124,2 II 79,678 134,000 132,000 -1.5%
Lan!e General Service 235,965 180,727 238 654 247,000 3.5%
SMIC Power Sales 105,101 80,599 119,525 111,500 -6.7%
Industrial Sales 128,247 68,390 145,000 130,000 -10.3%
Miscellaneous 76,353 38,124 53,000 58,500 10.4%
Charges for Services 72,261 28,821 70,000 70,000 100.0%
Total oueratIng revenues: 1,294,001 854,458 1,328,195 1,317,140 -0.8./.
Operatln& expenses:
Before depreciation:
Salaries 159,531 104,493 156,056 165,017 5.7%
Emplovee benefits 54,445 36,446 57,454 53,919 -6.2%
Purchased services 258,142 179,996 257,630 269,055 4.4%
Supplies & Maintenance 75,681 48,158 76,474 87,572 14.5%
General & Administrative 346,552 224,109 352,115 298,932 -15.1%
Total Operating Expenses: 894,351 593,202 899,729 874,495 -2.8%
Operating Income before depreciation 399,650 261,256 428,466 442,645 3.3%
Deoreciation 406,778 270,681 406,022 382,466 -5.8%
Operatlnl! Income (Loss) (7,128 (9,425 22,444 60,179 168.1%
Non....peratln& revenues (oxuenses)
Interest income 18,991 11,096 10,150 8,900 -12.3%
Interest expense (72,510 (15,037 (41,703 (39,142 -6.1%
Loss on disposal of fixed assets (23,496 (42,269 0 0 0.0%
Total non-operatIng revenues (expenses) (77,015 (46,210 (31,553 (30,242 -4.2%
Income (J....) before ooeratlnl! transfers (84,143 (55,635 (9,109 29,937 -428.7%
Operatln& transfers (to) from other funds 0 0 0 (5,000 -100.0%
Net Income 0....) (84,143' (55,635 (9,109 24,937 -373.8%
Amortization of contributions in aid 372,909 248,609 372,913 372,908 -0.0%
Increase (Decrease) In Retained Eamlngs 288,766 192,974 363,804 397,845 9.4%
Retained eamInEs at .Jlme 30 1,872,045 2,160,811 2,160,811 2,524,615 16.8%
Residual eoultv transfers to other funds 0 0 0 0 O.OG/.
Retained eamInEs at .Jlme 30
Undesil!lUlted 2,160,811 2,353,785 2,524,615 2,922,460 15.8%
Total Retained Eamlngs 2,160,811 2,353,785 2,524,615 2,922,460 15.8%
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CITY OF SEWARD
WA TERlSEWER ENTERPRISE FUND
BUDGETED STATEMENT OF CASH FLOW
For Budget Year Ending June 30,1998
FY98
FY97 Approved FY97-98
Budget Budget %Chg
24,937 -136.50/0 I
Cash
406,022 382,466 -6.2%
396,913 407,403
2.6%
Other Uses of Cash
Debt Principal Payments 36,060 37,557 <a) 4.2%
Capital Outlay 23,814 59,250 (b) 148.8%
!Net Increase (Decrease) in Cash
337,0391 310,596 I:
-7.8%1
(a) S37,557 is comprised of Dairy Hill Sewer Loan principal - SI,312; Lowell Point Sewer Lagoon Loan principal- S36,245
(b) S59,250 is comprised of equipment - S9,250; MRRF (water) - S25,000; MRRF (sewer) - S25,000
CITY OF SEWARD
WATER AND SEWER ENTERPRISE FUND
Operating and Residual Equity Transfer Budget
For Budget Year Ending June 30, 1998
FY97
Budget
FY98
Approved
Budget
!Operating Transfers from Other Funds
oC
01
o 5,000
o 5,000
[Residual Equity Transfers-In (Out)
oC 01
o ,_ (5,000)
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jNet Transfers-In (Out)
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