|The City of Hydaburg uses the fiscal year of July 1 through June 30; however, the municipal code stipulates a fiscal year of January 1 through December 31.
The fiscal year 2011 budget was adopted by a non-code ordinance on July 20, 2010. The budget is separated by funds with each fund listing proposed revenues and expenses. The funds included in the FY11 budget are: general fund, capital project fund, harbor deferred maintenance, water sewer upgrade, water sewer and garbage, and harbor and docks.
The budget ordinance compares the proposed FY11 budget to the adopted FY10 budget; however, it fails to include a comparative statement of actual expenditures and revenues for the preceding fiscal year, which is recommended by RUBA and required by Hydaburg Municipal Code.
Recent city council meeting minutes show that financial information is being reported on a monthly basis. The monthly financial statements include a balance sheet and a budget verses actual profit and loss.
Electricity is provided through Alaska Power and Telephone Company. A visual inspection of the most recent electricity billings verifies that the city is current with all electricity accounts for the water and wastewater utilities.
The city has two-275 gallon fuel tanks for heating fuel, located at city hall and the water treatment plant. The city receives fuel deliveries from Petro Marine in Craig. The city usually maintains a one to three month fuel supply. The city has adequate funds available and purchases fuel as needed.
The governing body is fully aware that user fees do not produce sufficient income to cover operating expenses or repair and replacement costs. It has been a general practice for the city to subsidize the utility's operating expenses and repair and replacement costs through other sources. The adequacy of the subsidy and the council's willingness to supplement the water, sewer, and garbage funds is evidenced through a $31,000 general fund transfer into the FY11 utility budget and the allocation of $50,000 from the FY11 Community Revenue Sharing payment.
FY11 revenues and expenses are in line with budgeted projections. The council continuously monitors the budget and makes occasional budget amendments to accommodate for increased or decreased revenue and/or expenditures. The last budget amendment adopted by the governing body was on July 20, 2010.
A review of city council meeting minutes for the last year shows that the mayor, administrator, city clerk, and public works foreman routinely provide both written and verbal reports on operational and financial issues surrounding the water, sewer and garbage utilities.