|The City of Atka uses the fiscal year that starts July 1.
Residential electricity is charged through the AMPY system, a pre-pay card system for customers. The future plan is to have all services under one system with one payment. Atka is home to Atka Pride Seafoods and receives local fish tax revenues annually. Atka also receives significant revenues from fish taxes collected in the unincorporated area of the western Aleutians.
The FY12 City Budget and non code ordinance was retrieved from the State of Alaska's Financial Documents Delivery System.
The city has a budget deficit with Total Revenues. All revenues are running at a deficit except for the General Funds. Total revenue in the General Fund is $537,800 and expenses are $197,512 for an excess of $340,288.
The revenue for the Water Sanitation is $27,000 and the expenses are $50,362, for a deficit of $23,362.
The Revenue for the Electric is $250,000 and the expenses are $287,329 for a deficit of $52,329.
There is a Capital Project Grant from AEA for an Electric Distribution/AMPY with a City match of $120,000. This will incorporate the water distribution into the AMPY meters.
Reserves in Merrill Lynch, current assets of diesel and gasoline inventory, and values for fixed assets and estimates on the Fish Taxes are stated to be conservative by the City Administrator and will be used to cover the water sanitation deficit.
Monthly financial reports provided to the governing body are Profit and Loss Budget vs. Actual. They identify year-to-date expenditures, adopted budget, and amount remaining over/under budget. Although previous financial reports have been submitted to RUBA, no recent financial reports or proof that the governing body has reviewed the financial reports as of January 6, 2012.|