HomeMy WebLinkAboutRes2005-005
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Sponsored by: Shealy
CITY OF SEWARD, ALASKA
RESOLUTION 2005-05
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, AMENDING THE FY2004 BUDGET AND APPROPRIATING
$32,000 IN SALES TAX REVENUES TO THE HOSPITAL DEBT
SERVICE FUND
WHEREAS, the 2004 Operating Budget anticipated that one cent of every four cents in
sales tax collected by the City of Seward would be transferred to the Hospital Debt Service Fund
to be used to pay: the debt service costs related to construction ofthe hospital facility; the
hospital Public Employees Retirement System (PERS) liability; and to finance major repair and
replacement costs associated with the new hospital facility; and
WHEREAS, the 2004 Operating Budget included an estimated amount of $745,000 in
sales tax revenues to be transferred from the General Fund to the Hospital Debt Service Fund,
based on initial estimated total sales tax cash receipts of $2,980,000; and
WHEREAS, the actual sales tax receipts from the Kenai Peninsula Borough during 2004
are expected to exceed budgeted estimates by approximately $128,000, with one-fourth of that
amount, or $32,000 to be transferred to the Hospital Debt Service Fund, for a total estimated
annual transfer from the General Fund to the Hospital Debt Service Fund of $777,000.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
Section 1. The 2004 Operating Budget shall be amended by appropriating $32,000 from
the General Fund Transfers-Out account no. 101-0000-3070-0801 to the Hospital Debt Service
Fund Transfers-In account no. 801-0000-3070-0101.
Section 2. This resolution shall be retroactive to December 31, 2004.
PASSED AND APPROVED by the City Council ofthe City of Seward, Alaska, this 24th
day of January, 2005.
THE CITY OF SEWARD, ALASKA
V~ 1Lr
Vanta Shafer, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2005-05
AYES:
NOES:
ABSENT:
ABSTAIN:
Branson, Dunham, Va1datta, Amberg, Clark, Lorenz, Shafer
None
None
None
ATTEST:
~
C y Clerk
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