File #: RES 25-0054    Version: 1
Type: Resolution Status: Agenda Ready
File created: 11/10/2025 In control: City Council
On agenda: 11/18/2025 Final action:
Title: #25-54 - Amending the 2025 City Budget by Transferring $32,478 from General Fund to Harbor Fund to Replace Lost Revenue Resulting from the Commercial Fishing Vessel Moorage Waiver Relief Program
Attachments: 1. #25-54 - Amending the 2025 City Budget by Transferring $32,478 from General Fund to Harbor Fund to Replace Lost Revenue Resulting from the Commercial Fishing Vessel Moorage Waiver Relief Program, 2. RES 25-01 Waiving Harbor 2025 Annual Moorage fees for Commercial Fishing Vessels, 3. 2025 Commercial Fishing Vessel Moorage Waiver LIst

ITEM TITLE: 

#25-54 - Amending the 2025 City Budget by Transferring $32,478 from General Fund to Harbor Fund to Replace Lost Revenue Resulting from the Commercial Fishing Vessel Moorage Waiver Relief Program

 

SUBMITTED BY: Jordan Nelson, Finance Director

 

FISCAL NOTES: 

Expenditure Required: $32,478

Unencumbered Balance: $12.7M

Funding Source: Unrestricted, Unassigned General Fund Balance

 

RECOMMENDATION:

Approve

SUMMARY STATEMENT:

This resolution reconciles the lost revenue to the Harbor Fund pursuant to the moorage fee waiver program established by Resolution #25-01 (attached). Discussion during the January 7th City Council meeting directed staff to “make whole” foregone revenue to the Harbor Fund using Unrestricted, Unassigned General Fund Balance.

Resolution #25-01 outlines the intent of the Valdez City Council. This program has been implemented, and resulted in $32,478 in forgone revenue to the Harbor Fund.