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Home My WebLink AboutRes1998-068 I I I Sponsored by: ~ CITY OF SEWARD, ALASKA RESOLUTION NO. 98-068 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, ADOPTING THE HARBOR ENTERPRISE 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 City Harbor Enterprise 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 Harbor 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 ~It JT14 Lowell R. Satin, Mayor AYES: NOES: ABSENT: ABSTAIN: Blatchford, Callahan, Clark, Gage, King, Orr, Satin None None None ATTEST: Patrick R(ill:Y"mu"1 I. City ~~ ~~'~~'*~~"" /; c)..,~o\woR..q'k'::o ~ (C~ S~'.) _ ~\ ~ :: : ."'f"<t \-: "'e' Q,;:A"L 'e- :: ~ ~;~"t":" : = ~ \ -.- ; = -:' ""t'.j tt,..;: -:;. ~'\"~1'~ 1 ..~>~~$ ~~:l>""', )-'.... .....1... &..~ ..:'fIV .... ..: Ot: ;>.v....... ......i! j ~,\1':i4" 3.l:1.l!:t!\1'" HARBOR ENTERPRISE FUND Statement of Revenues and Expenses and Changes in Retained Earnings I For Budget Year Ending June 30, 1999 FY97 FY98 FY98 FY99 FY98-99 Actual Thru 3/98 Bud2et Bud2et %Ch2 Operating revenues: Moor3ge 930,239 737,543 1.021.500 925,500 -9.4% Wharfage 136,512 105.388 175,000 99,000 -43.4% Boat Lift Fe"" 202.374 98.811 210,000 261.750 24.6% Power Sales 164,045 102,137 170.000 165.000 -2.9% Stonge 64.160 51.275 68,000 1'>5,800 26.2% RentS and Leases 326,31'>0 172,221 262.084 288.969 10.3% Miscellaneous 79,359 77,434 83,050 85,225 2.6% Total operating revenues: 1,903,069 1,344,809 1,989,634 1,911,244 -3.9% Operating expenses before depreciation: Salari"" 377,598 296,46 I 398,862 427,743 7.2% Employee Benefits 168,492 116,394 153,l84 172,436 12.6% Purchased Services 211,364 215.404 264,721 268,55 I 1.4% Power for Resale 112,988 87,285 IIO.607 JlO,5oo -0.1% Suppli"" and Maintenance 141,163 42,955 135.554 182.700 34.8% General and Administrative 4 15.098 303,38 I 427.266 404.124 -5.4% Total Operating Expenses: 1,426,703 1,061,880 1,490,194 1,566,054 5.1% Operating income before depreciation 476,366 282,929 499,440 345,190 -30.9% I Depreciation 1.273,627 975,955 1.301.273 1.262,3 I 2 -3.0% Operating Income (Loss) (797,261) (693,026) (801,833) (917,122) -14.4% Non-operating revenues (expenses) Interest Income 14.336 9,709 16.000 17,000 6.3% Interest Expense (255,635) (130,691) (157.106) (158,745) -1.0% Other revenues (expenses) (2,788) 0 25,000 0 ,100.0% Total non-operating revenue (expense) (244,087) (120,982) (116,106) (141,745) 22.1% Income (loss) before operating transfers (1,041,348) (814,008) (917,939) (1,058,867) -15.4% Operating transfers from other funds 0 1.283.710 1,283.710 0 -J(10.0% Operating transfers to other funds (137,190) (227,288) (237.524) (87,326) -63.2% Net income (loss) (1,178,538) 242,414 138,483 (1,146,193) -927.7% Amortization of CIA 1,084.671 828,962 UOS.283 L105.506 0.0% Increase (decrease) in retained earnings (93,867) 1,071,376 1,243,766 (40,687) .103.3% Harbor capital projects CY retained earnings 2,836 (6,170) (6,170) 0 100.0% Retained earnings at beginning of year 969,734 878,703 878,703 2,116,299 140.8% Residual equity transfers 0 0 0 (22,000) -100.0% I Retained earnings at end of year Harbor Und""ignated 865.360 1.729,767 1,902.157 1.952,602 2.7% Harbor Capital Projects 13.343 220,3 12 220.312 101.01 I -54.2% Total Retained Earnings 878,703 1.943.909 2.116.299 2.053.613 -3.0% CITY OF SEWARD HARBOR ENTERPRISE FUND Statement of Cash Flow For Budget Year Ending June 30, 1999 FY98 FY99 FY98-99 Budget Budget % Chg Cash is provided By (Used For): Net Income/(Loss) 138,483 (1,146,193) -927.7% Add Expense Items Not Affecting Cash Depreciation 1.301.273 1.262.312 -3.0% Amortization of Bond Refunding 15.048 15.048 0.0% Amortization of Bond Issue Costs 2.268 2.268 0.0% Net Cash Provided By (Used For) Operations 1,457,072 133,435 -90.8% Other Sources of Cash General Fund transfer to eliminate cash deficit 1.283.710 0 -100.0% Harbor MRRF Fund transfer to eliminate cash deficit 0 119.302 100.0% Other Uses of Cash Debt Principal Payments (I92.929Xa) (203.23 7Xb ) 5.3% Capital Outlay (I74.952Xc) ( 49 .500X d) -71.7% Net Increase (Decrease) in Cash 2,372,901 0 -100.0% Ca) $192.929 represents: 250 ton lease - $55.000: North SMIC dock bonds - $119.408: High mast lights loan - $18.521 Cb) $203.237 represents: 250 ton lease - $60.000: North SMIC dock bonds - $123.525: High mast lights loan - $19.712 C c) $174.952 represents: Equipment - $4.000: Buildings - $44.022; MRRF Fund - $126.930 Cd) $49.500 represents: Equipment - $27.500: Vehicle purclwe - $22.000 I CITY OF SEWARD HARBOR ENTERPRISE FUND Operating and Residual Equity Transfer Budget For Budget Year Ending June 30, 1999 FY98 FY99 Budget Budget Operating Transfers from Other Funds General Fund - Wrire-offharbor debt 1.283,710 (a) 0 Operating Transfers to Other Funds: General Fund - 1/2 land lease revenue 105,042 82,326 General Fund - federal lobbying 0 5,000 Harbor Boardwalk Project 123,100 0 I Harbor Plaza Renovation 9,382 0 Total Operating Transfers-Out 237,524 87,326 Residual Equity Transfers-In (Out) 0 22,000 (b) Net Transfers-In (Out) 1,046,186 009,326) I (a) The Ciry Council elected to write off a portion of the Harbor Enterprise Fund's debt to the Central Treasury. The debt at June 30, 1998 is estimated to be $375,000. (b) Represents transfer to the Motor Pool Fund for the purchase of a pickup truck. I I I SEWARD CITY COUNCIL SITTING AS THE BOARD OF ADJUSTMENT SEWARD, ALASKA Hotel Edgewater/Gene Bradley Appeal of Planning And Zoning Commission Action RE: An appeal filed by Gene Bradley ofthe Planning and Zoning Commission's April 29, 1998 decision to issue a Conditional Use Permit for the proposed Hotel Edgewater project in the Central Business District on Lots 21-25, Block 8, Original Townsite of Seward (corner of Railway and Fifth Avenue): The appellant objected to the CUP provision allowing valet parking. Decision: The decision ofthe Seward Planning and Zoning Commission was upheld. The Board of Adjustment affirmed the Planning and Zoning Commission's decision and adopted the Planning and Zoning Commission's findings of fact and conclusions of law as those of the Board of Adjustment. The vote was as follows: YES: Blatchford, Clark, Gage, King, Orr, Satin NO: Callahan Findings of Fact and Conclusions of Law: On June 8, 1998 the Board of Adjustment met and adopted as their own the Findings of Fact and Conclusions of Law as identified by the Planning and Zoning Commission Resolution No. 98-06 and Conditional Use Permit No. 98-03. Right to Appeal: This shall constitute the final decision of the Board of Adjustment and any appeal to this decision shall be filed in the Superior Court with a copy to the City Manager. An appeal of this decision must be filed within thirty days of the action or determination being appealed. Computation of the time period for filing an appeal shall commence with the date on which the action or determination is mailed or delivered to the parties involved. Any decision not appealed within these time limits shall become final. See Seward City Code 15.10.410. Dated this 8th day of June, 1998. ~I( ~~) Lowell R. Satin Mayor Patrick Reilly City Clerk o'",'}:",.~!:"1Zl" ft~~- " ..(qty;'SeQtJti"" .~~. .../~) <r..... ~~...:~,;u~;~.'~""'(:,{) '".:~... ,.,.. r......,., ("',,~".~ Urvq:t-.'_", 10 If'" 1-,# '" 0'" ,.1 ; ~...o ~ "l'v' e" "_.J <o".."~ ,~1 : '-..' ~- \ ~ ." . C , "'- -r . I"~ ~~ 0: },~,"":"~' '. ,--U : 0 ~ ,1 . . ''- . ~ \ "-v-.-- ... .': \\. ,,.-, '\7 . t!,<>.~.~ /7 . ,,"-, ,...." ~ .~, r ".G j:r- d."' ~ r.'.~...."~-~"", ,'0' '" ~." # ~. ......' .,"~ "'; .."", ~ .' - ,,, ~