HomeMy WebLinkAboutRes1998-064
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 98-064
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE HOSPITAL DEBT SERVICE FUND BUDGET
FOR THE FISCAL YEAR BEGINNING JULY 1, 1998
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The Hospital Debt Service Fund budget for the Fiscal Year beginning July 1,
1998 which is attached hereto and made a part hereof by reference, and which contains estimated
hospital debt service fund revenues and expenditures for Fiscal Year 1999, is HEREBY ADOPTED.
Section 2. This resolution shall take effect July 1, 1998.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 26th
day of May, 1998.
THE CITY OF SEWARD, ALASKA
~If [Xi)
Lowell R. Satin, Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Clark, Gage, King, Orr, Satin
None
None
None
ATTEST:
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HOSPIT AL DEBT SERVICE FUND
Statement of Revenues, Expenditures, Other Financing
Sources (Uses) and Changes in Fund Balance
For Budget Year Ending June 30, 1999
FY98
Budget
FY99
Proposed
Budget
FY98-99
% Chg
FY97
Actual
FY98
Thru 3/98
Revenues (investment earnings):
6,305
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3,000
o -IOO.O%
Expenditures:
Debt Setvice Principal 0 0 98,834 208,546 II 1.0%
Debt Service Interest 0 202,915 214,836 479,391 123.1%
Total expenditures 0 202,915 313,670 687,937 119.3%
I Excess of revenues over expenditures 6,305 (202,915) (310,670) (687,937) -121.4%
Operating transfers from other funds
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I I I,308
180,636
637.252 252.8%
Excess of revenues and other sources
over expenditures and other uses
6,305
(91,607) (130,034) (50,685)
61.0%
Fund Balance at beginning of year
115,979
122,284
122,284
(7,750) -106.3%
Fund Balance at end of year
Reserved for debt service
Total Fund Balance
122,284
122,284
30,677
30,677
(7,750) (58,435) -654.0%
(7,750) (58,435) -654.0%
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