HomeMy WebLinkAbout2024-08-20 Council FIN Committee PacketAgenda
Edmonds City Council
FINANCE COMMITTEE - SPECIAL MEETING
CITY COUNCIL CONFERENCE ROOM
121 - 5TH AVENUE N, EDMONDS, WA 98020
AUGUST 20, 2024, 4:30 PM
Edmonds City Council Agenda
August 20, 2024
Page 1
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COMMITTEE MEMBERS: WILL CHEN (CHAIR), JENNA NAND, COUNCIL PRESIDENT (EX-OFFICIO
MEMBER)
1. CALL TO ORDER
2. COMMITTEE BUSINESS
1. 2024.08.24 ERP update (10 min)
2. Fund Balance Reserve Policy Update (10 min)
3. July Monthly Financial Report (15 min)
4. State Auditor Office 2023 Entrance Interview (30 min)
ADJOURNMENT: 6:00 PM
City Council Agenda Item
Meeting Date: 08/20/2024
2024.08.24 ERP update
Staff Lead: Brian Tuley
Department: Information Services
Preparer: Brian Tuley
Background/History
Council requested project staff.
Staff Recommendation
information update to include in council approval
Narrative
Staff intends to keep council informed on the status of the ERP project. Regular updates will be
presented to the Finance Committee as the project progresses. This update list the roles and assigned
staff for this project.
Attachments:
RolesResponsibilities
2.1
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Finance Committee ERP Update: 8/20/2024
The contract with Tyler Technology was approved in the August 6th Council meeting. Since
the approval, the contract has been executed by both parties. The staff listed below are
assigned to the project.
We expect several months of waiting for the vendor to schedule resources and dates to the
project.
2.1.a
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Tyler Technology EERP Project –
City Roles & Responsibilities
City Roles Matrix
Based on city staffing and job functions, some of the roles designated by Tyler Technologies
Statement of Work overlap. The city has idented the following individuals for required
project rolls.
Role Designee
City Executive Sponsor Mayor Rosen
City Steering Committee Kim Dunscombe / Brian Tuley
City Project Manger IS Manager Brian Tuley
Implementation Management
Resource Management Acting Finance Director Dunscomb
Contract Management
City Technical Lead Sr. Systems Specialist Mark Cockrum
City Functional Leads Sr Accountant: Deb Sharp
Planning Sr Accountant: Sarah Mager
City Power Users Accountant: Marissa Cain
Accounts Payable: Nori Jacobson
HR Manager: Reann Duarte
HR Analyst: Emily Wagner
Payroll: Lori Palmer
Utility Billing: Denise Kenyon
City End Users TBD as needed
City Stakeholders Council Finance Committee
Department Directors
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City Staff Biographies
The following staff will be working on this project.
Brian Tuley
Brian is the Information Services manager for the City of Edmonds, a role he has held over
11 years. Brian has built and installed numerous systems throughout a technology career
spanning 3 decades. He worked many years as full stack developer and systems engineer.
His expertise includes developing, integrating and installing ERP, business intelligence, big
data, human capital management, and business continuity systems. Brian has a Bachelor
of Science from the University of South Dakota, and Master of Science in Information
Technology Management. Additionally, Brian was a certified ethical hacker (certification
expired) and is a trained project manager. Brian holds several FEMA certifications.
Kim Dunscombe
Kim is the Acting Finance Director for the City of Edmonds. Prior to Edmonds, she was the
Budget Manger for the City of Bainbridge Island. Kim has an MBA and is a Certified
Management Accountant.
Mark Cockrum
Mark is a Senior Systems Specialist with the City of Edmonds. He has been with the City
15 years and is the administrator the current accounting system. Mark holds both a
Bachelor and Master of Science in Computer Science.
Deb Sharp
Deb is a Senior Accountant with almost 25 years of experience with the City. Deb is critical
in building the City budget and CAFR financial statements.
Sarah Mager
Sarah is a Senior Accountant in Edmonds. She has been at with the City over 12 years and
is responsible for cash receipts, posting and reconciliation.
2.1.a
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Marissa Cain
Marissa is a Senior Accountant who has been with the City over 5 years. Marissa is a CPA in
the Finance Department who works with the preparation of the Annual Comprehensive
Financial Report, the State Audit, and the annual Budget process.
Nori Jacobson
Nori Jacobson is a Senior Accounting Specialist who has worked for the City of Edmonds
over 15 years. Nori’s area of expertise is accounts payable.
Reann Duarte
RaeAnn Duarte recently joined the City of Edmonds’ Human Resources Department as HR
Manager on November 1, 2023. RaeAnn brings over a decade of Human Resource & Payroll
experience in a variety of industries that include local government, non-profit, and
hospitality. She has obtained a bachelor’s degree in liberal arts and a master’s degree in
rehabilitation counseling from California State University, Fresno. In addition to her formal
education, RaeAnn holds certifications in Human Resource Management, Organizational
Change Management, Disability & Leave Management, and an IT Executive Credential from
California State Association of Counties (CSAC).
Emily Wagner
Emily Wagener is a Senior HR Analyst in the Human Resources Department at the City of
Edmonds. She has been with the City for 8 years. She enjoys implementing new
technologies that can be used to improve City Services. Emily was responsible for building
out the Onboard feature used by HR that is provided through NEOGOV and looks forward to
being part of the implementation team for the City’s new accounting system.
Lori Palmer
Lori is as Senior Accounting Specialist with over 25 years at the City of Edmonds. Lori has
worked in utility billing and her current roll is payroll processing. Lori was assisted with the
current systems accounting and special assessments modules. +
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Denise Kenyon
Denise is a Senior Accounting Specialist with over 25 years at the City of Edmonds. Denise
is utility billing expert, and assisted the City during the previous implementation of utility
billing.
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Functional Position Descriptions
City resources will be assigned prior to the start of each Phase of the Project. One person
may be assigned to multiple Project roles.
City Executive Sponsor
The City executive sponsor provides support to the Project by providing strategic direction
and communicating key issues about the Project and its overall importance to the
organization. When called upon, the executive sponsor also acts as the final authority on
all escalated Project issues. The executive sponsor engages in the Project, as needed, to
provide necessary support, oversight, guidance, and escalation, but does not participate in
day-to-day Project activities. The executive sponsor empowers the City steering
committee, project manager(s), and functional leads to make critical business decisions
for the City.
• Champions the project at the executive level to secure buy-in.
• Authorizes required project resources.
• Actively participates in organizational change communications.
City Steering Committee
The City steering committee understands and supports the cultural change necessary for
the Project and fosters an appreciation for the Project’s value throughout the organization.
The steering committee oversees the City project manager and Project through
participation in regular internal meetings. The City steering committee remains updated on
all Project progress, Project decisions, and achievement of Project milestones. The City
steering committee also serves as primary level of issue resolution for the Project.
• Works to resolve all decisions and/or issues not resolved at the project manager
level as part of the escalation process.
• Attends all scheduled steering committee meetings.
• Provides support for the project team.
• Assists with communicating key project messages throughout the organization.
• Prioritizes the project within the organization.
• Ensures the project staffed appropriately and that staff have necessary resources.
• Monitors project progress including progress towards agreed upon goals and
objectives.
• Has the authority to approve or deny changes impacting the following areas:
o Cost
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o Scope
o Schedule
o Project Goals
o City Policies Needs of other client projects
City Project Manager
The City shall assign project manager(s) prior to the start of this project with overall
responsibility and authority to make decisions related to Project Scope, scheduling, and
task assignment. The City Project Manager should communicate decisions and
commitments to the Tyler project manager(s) in a timely and efficient manner. When the
City project manager(s) do not have the knowledge or authority to make decisions, he or
she engages the necessary resources to participate in discussions and make decisions in a
timely fashion to avoid Project delays. The City project manager(s) are responsible for
reporting to the City steering committee and determining appropriate escalation points.
Contract Management
• Validates contract compliance throughout the project.
• Ensures that invoicing and Deliverables meet contract requirements.
• Acts as primary point of contact for all contract and invoicing questions.
Collaborates on and approves Change Requests, if needed, to ensure proper scope
and budgetary compliance.
Planning
• Reviews and accepts project planning documents.
• Defines project tasks and resource requirements for the City project team.
• Collaborates in the development and approval of the project schedule.
• Collaborates with Tyler project manager(s) to plan and schedule project timelines to
achieve on-time implementation.
Implementation Management
• Tightly manages project budget and scope.
• Collaborates with Tyler project manager(s) to establish a process and approval
matrix to ensure that scope changes and budget (planned versus actual) are
transparent and handled effectively and efficiently.
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• Collaborates with Tyler project manager to establish and manage a schedule and
resource plan that properly supports the project schedule as a whole and is also in
balance with scope and budget.
• Collaborates with Tyler project manager(s) to establish risk and issue tracking and
reporting process between the City and Tyler and takes all necessary steps to
proactively mitigate these items or communicate with transparency to Tyler any
items that may impact the outcomes of the project.
• Collaborates with Tyler project manager(s) to establish key business drivers and
success indicators that will help to govern project activities and key decisions to
ensure a quality outcome of the project. Routinely communicates with both the City
staff and Tyler, aiding in the understanding of goals, objectives, current status, and
health of the project by all team members.
• Manages the requirements gathering process and ensure timely and quality
business requirements are being provided to Tyler.
Resource Management
• Acts as liaison between project team and stakeholders.
• Identifies and coordinates all City resources across all modules, phases, and
activities including data conversions, forms design, hardware and software
installation, reports building, and satisfying invoices.
• Provides direction and support to project team.
• Builds partnerships among the various stakeholders, negotiating authority to move
the project forward.
• Manages the appropriate assignment and timely completion of tasks as defined.
Assesses team performance and takes corrective action, if needed.
• Provides guidance to City technical teams to ensure appropriate response and
collaboration with Tyler Technical Support Teams to ensure timely response and
appropriate resolution.
• Owns the relationship with in-Scope 3rd party providers and aligns activities with
ongoing project tasks.
• Ensures that users have appropriate access to Tyler project toolsets as required.
Conducts training on proper use of toolsets.
• Validates completion of required assignments using toolsets.
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City Functional Leads
• Makes business process change decisions under time sensitive conditions.
Communicates existing business processes and procedures to Tyler consultants.
Assists in identifying business process changes that may require escalation.
• Contributes business process expertise for Current & Future State Analysis.
• Identifies and includes additional subject matter experts to participate in Current &
Future State Analysis.
• Validates that necessary skills have been retained by end users.
• Provides End Users with dedicated time to complete required homework tasks.
• Acts as an ambassador/champion of change for the new process and provide
business process change support.
• Identifies and communicates any additional training needs or scheduling conflicts
to the City project manager.
• Actively participates in all aspects of the implementation, including, but not limited
to, the following key activities:
o Task completion
o Stakeholder Meeting
o Project Management Plan development
o Schedule development
o Maintenance and monitoring of risk register
o Escalation of issues
o Communication with Tyler project team
o Coordination of City resources
o Attendance at scheduled sessions
o Change management activities
o Modification specification, demonstrations, testing and approval assistance
o Data analysis assistance
o Decentralized end user training
o Process testing
o Solution Validation
City Power Users
• Participate in project activities as required by the project team and project
manager(s). Provide subject matter expertise on the City business processes and
requirements.
• Act as subject matter experts and attend Current & Future State Analysis sessions
as needed. Attend all scheduled training sessions.
2.1.a
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• Participate in all required post-training processes as needed throughout project.
• Test all application configuration to ensure it satisfies business process
requirements. Become application experts.
• Participate in Solution Validation.
• Adopt and support changed procedures.
• Complete all deliverables by the due dates defined in the project schedule.
Demonstrate competency with Tyler products processing prior to Go-live. Provide
knowledge transfer to the City staff during and after implementation.
• Participate in conversion review and validation.
City End Users
• Attend all scheduled training sessions.
• Become proficient in application functions related to job duties. Adopt and utilize
changed procedures.
• Complete all deliverables by the due dates defined in the project schedule. Utilize
software to perform job functions at and beyond Go-live.
City Technical Lead
• Coordinates updates and releases with Tyler as needed.
• Coordinates the copying of source databases to training/testing databases as
needed for training days.
• Coordinates and adds new users, printers and other peripherals as needed.
• Validates that all users understand log-on process and have necessary permission
for all training sessions.
• Coordinates interface development for City third party interfaces. Develops or
assists in creating reports as needed.
• Ensures on-site system meets specifications provided by Tyler. Assists with
software installation as needed.
• Extracts and transmits conversion data and control reports from the City’s legacy
system per the conversion schedule set forth in the project schedule.
City Upgrade Coordination
• Becomes familiar with the software upgrade process and required steps. Becomes
familiar with Tyler’s releases and updates.
• Utilizes Tyler resources to stay abreast of the latest Tyler releases and updates, as
well as the latest helpful tools to manage the City’s software upgrade process.
2.1.a
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• Assists with the software upgrade process during implementation. Manages
software upgrade activities post-implementation.
• Manages software upgrade plan activities.
• Coordinates software upgrade plan activities with City and Tyler resources.
Communicates changes affecting users and department stakeholders.
• Obtains department stakeholder acceptance to upgrade production environment.
City Change Management Lead
• Validates that users receive timely and thorough communication regarding process
changes. Provides coaching to supervisors to prepare them to support users
through the project changes. Identifies the impact areas resulting from project
activities and develops a plan to address them proactively.
• Identifies areas of resistance and develops a plan to reinforce the change. Monitors
post-production performance and new process adherence.
2.1.a
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City Council Agenda Item
Meeting Date: 08/20/2024
Fund Balance Reserve Policy Update
Staff Lead: Kim Dunscombe
Department: Administrative Services
Preparer: Kimberly Dunscombe
Background/History
The current effective Fund Reserve Policy states in Article V Annual Fund Balance Types - Status Report
once a year, in August, the City Finance Director shall present to the Council Finance Committee a
comprehensive report on the City’s fund balance reserve types as of June 30th. The report shall include
an updated fund balance reserve level for each fund balance type. The report shall include the following
funds: 1. General Fund Operating Reserve balance; 2. Contingency Reserve Fund Balance.
Staff Recommendation
Information only.
Narrative
The Mid-Year Report provided to Council on August 13th will be used as the starting point for this
discussion.
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City Council Agenda Item
Meeting Date: 08/20/2024
July Monthly Financial Report
Staff Lead: Kim Dunscombe
Department: Administrative Services
Preparer: Kimberly Dunscombe
Background/History
Review July monthly financial report.
Staff Recommendation
Discussion only
Narrative
NA
Attachments:
July 2024 Monthly Financial Report
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CITY OF EDMONDS
MONTHLY BUDGETARY FINANCIAL REPORT
JULY 2024
2.3.a
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MONTHLY HIGHLIGHTS
GENERAL FUND HIGHLIGHTS
• Real Personal/Property Tax and EMS Levy is up $305,698 from this point last year. Despite this current good news, our forecast
for property tax will likely finish under budget by $(130,000).
• Sales tax is up $135,737 from this point last year and is right on target for the cumulative budget forecast. Our forecast
indicates this revenue source to be close to or slightly under budget.
• Utility taxes are categorized under “Other Taxes” in the chart below, exhibit divergent trends, with some surpassing the
cumulative budget while others lag behind. Notably, gas tax from Puget Sound Energy is down by $(106,358) falling short of
their perspective cumulative budget.
• Development services revenues overall are up a total of $332,867 from this point last year. The increase is notably due to the
city receiving permit revenue for development of the Edmonds Green Apartments.
• Interest charged to the General Fund for negative cash balance in 2024 equals $3 5,433 to date.
• There is a noticeable uptick in salaries and benefits for May. This increase is attributed to retroactive payments and salary
adjustments resulting from a new collective bargaining agreement for the same bargaining unit.
Sales Tax Property Tax EMS Tax Other Taxes
Actual 6,677,774 6,123,342 2,341,645 5,032,153
Budget 12,300,000 11,327,000 4,578,000 9,229,949
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
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General Fund Tax Revenue (2024 YTD)
STREET FUND HIGHLIGHTS
• Interest charged to the Street Fund for negative cash balance in 2024 equals $12,244 to date.
REET FUND HIGHLIGHTS
• REET revenues are 20.03% or $316,939 higher than last year. Projections indicate REET revenues are on track to meet the
budget target of $3.0 million.
CAPITAL FUND 332 HIGHLIGHTS
• The negative fund balance in Fund 332 – Capital Construction is a result of the Mee property purchase and the timing of grant
receipt. A reimbursement of $951,938 was submitted in early July. Interest charged to the Parks Capital Construction Fund for
negative cash balance in 2024 equals $6,778.
2.3.a
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City of Edmonds
All Funds Financial Summary
As of July 31, 2024
Fund
Beginning Fund
Balance
Revenues /
Sources
Expenditures /
Uses
Revenues less
Expenditures
Ending Fund
Balance Cash Balance
Governmental
001 General Fund 2,492,460 28,806,583 28,669,246 137,337 2,629,797 (439,166)
009 LEOFF Medical Insurance Reserve 139,774 125,000 187,984 (62,984) 76,790 85,769
012 Contingency Reserve 2,228,672 - - - 2,228,672 2,228,672
014 Historic Sub-Fund 8,944 - 4,385 (4,385) 4,559 4,559
016 Building Maintenance 3,756,168 69,560 666,892 (597,332) 3,158,836 3,212,907
017 Marsh Restoration 853,595 300 - 300 853,895 853,895
018 Homeless Response 200,000 - - - 200,000 200,000
019 Opioid Response 74,119 311,851 - 311,851 385,970 385,970
Total General Funds 9,753,732 29,313,294 29,528,507 (215,213) 9,538,519 6,532,606
Special Revenue Funds
104 Drug Enforcement 40,843 1,835 - 1,835 42,678 42,153
111 Street 4,701 1,385,471 1,456,588 (71,117) (66,416) (190,355)
112 Street Construction 2,734,808 3,028,295 2,127,233 901,062 3,635,871 2,078,936
117 Municipal Arts 657,265 43,651 26,996 16,656 673,921 665,436
120 Hotel / Motel 151,247 69,345 56,075 13,271 164,517 146,654
121 Employee Parking 83,814 16,249 - 16,249 100,063 98,986
122 Youth Scholarship 17,868 1,644 225 1,419 19,287 19,057
123 Tourism Promotion 138,157 27,194 12,781 14,413 152,570 145,603
125 REET 2 1,992,459 1,049,164 435,555 613,608 2,606,067 2,629,783
126 REET 1 3,957,800 1,136,064 405,697 730,367 4,688,167 4,635,106
127 Gifts Catalog 3,140,448 317,445 296,525 20,920 3,161,368 3,120,791
130 Cemetery Maintenance 196,245 94,089 141,509 (47,420) 148,824 146,153
137 Cemetery Trust 1,212,121 63,515 73,000 (9,485) 1,202,635 1,187,055
138 Sister City 18,681 3,262 2,271 991 19,672 19,429
140 Business Improvement 37,682 61,220 37,120 24,099 61,782 61,782
141 Affordable Housing 309,127 28,085 - 28,085 337,211 328,814
142 Edmonds Rescue 36,932 6,719,788 6,716,871 2,917 39,849 186,644
143 Tree Fund 222,354 41,906 200,269 (158,363) 63,991 60,812
Capital Projects 139,615 1,031,104 706,177 324,927 464,542 (497,841)
Debt Service - 35,551 35,201 350 350 -
Enterprise Funds
411 Combined Utility Operation - 85,680 - 85,680 85,680 140,042
421 Water Utility 9,601,886 6,827,086 4,832,357 1,994,729 11,596,616 11,472,282
422 Storm Water Utility 6,983,494 4,367,941 2,785,914 1,582,028 8,565,521 8,103,638
423 Sewer / Wastewater Treatment Plant 14,903,525 11,007,681 8,742,234 2,265,447 17,168,972 17,762,664
424 Bond Reserve Fund 843,961 574,789 556,892 17,897 861,857 861,857
Internal Service Funds
511 Equipment Rental 5,298,245 1,684,871 1,516,262 168,609 5,466,854 5,359,320
512 Technology Rental 421,587 1,270,969 1,073,318 197,651 619,238 624,524
All Funds 62,898,595 70,287,187 61,765,576 8,521,611 71,420,207 65,741,931
2.3.a
Packet Pg. 18
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3
GENERAL FUND SUMMARY
General Fund
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 2,711,054$ 2,711,054$ 2,532,339$ 2,532,339$ -6.59%
February 5,412,574 2,701,521 3,801,618 6,333,957 17.02%
March 8,234,389 2,821,815 4,006,316 10,340,274 25.57%
April 12,871,492 4,637,102 8,886,692 19,226,965 49.38%
May 21,881,117 9,009,625 3,958,085 23,185,051 5.96%
June 24,570,750 2,689,633 3,062,106 26,247,157 6.82%
July 27,555,506 2,984,755 2,559,427 28,806,583 4.54%
August 30,903,813 3,348,307 3,500,328 32,306,911 4.54%
September 33,691,847 2,788,034 2,914,617 35,221,528 4.54%
October 39,258,675 5,566,828 5,819,574 41,041,102 4.54%
November 48,115,504 8,856,828 9,258,947 50,300,048 4.54%
December 51,302,492 3,186,988 3,331,684 53,631,733 4.54%
General Fund
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 4,823,378$ 4,823,378$ 4,652,570$ 4,652,570$ -3.54%
February 8,954,405 4,131,027 3,706,872 8,359,442 -6.64%
March 12,985,832 4,031,427 3,718,847 12,078,289 -6.99%
April 16,651,930 3,666,099 3,782,082 15,860,371 -4.75%
May 20,738,604 4,086,673 4,319,151 20,179,522 -2.70%
June 25,334,520 4,595,916 4,781,657 24,961,180 -1.47%
July 29,347,611 4,013,091 3,708,067 28,669,246 -2.31%
August 33,504,298 4,156,687 4,060,606 32,729,852 -2.31%
September 37,673,197 4,168,900 4,072,536 36,802,388 -2.31%
October 41,800,681 4,127,484 4,032,078 40,834,466 -2.31%
November 46,965,717 5,165,036 5,045,647 45,880,113 -2.31%
December 52,037,793 5,072,076 4,954,836 50,834,949 -2.31%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Revenue Summary-General Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-General Fund
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
50,000,000
55,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
General Fund
Current Year Budget Prior Year
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
50,000,000
55,000,000
60,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
General Fund
Current Year Budget Prior Year
2.3.a
Packet Pg. 19
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4
MAJOR GENERAL FUND REVENUE SUMMARY
Real Personal/Property Tax
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 28,172$ 28,172$ 15,003$ 15,003$ -46.75%
February 156,833 128,661 265,415 280,418 78.80%
March 877,571 720,738 546,457 826,875 -5.78%
April 5,200,702 4,323,131 4,451,219 5,278,095 1.49%
May 6,113,323 912,621 769,305 6,047,399 -1.08%
June 6,167,757 54,434 53,708 6,101,108 -1.08%
July 6,192,819 25,062 22,234 6,123,342 -1.12%
August 6,247,276 54,457 53,846 6,177,188 -1.12%
September 6,423,953 176,676 174,694 6,351,882 -1.12%
October 10,550,884 4,126,931 4,080,631 10,432,513 -1.12%
November 11,287,789 736,905 728,638 11,161,151 -1.12%
December 11,327,000 39,211 38,771 11,199,922 -1.12%
Sales and Use Tax
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 956,967$ 956,967$ 975,066$ 975,066$ 1.89%
February 2,084,047 1,127,080 1,059,532 2,034,598 -2.37%
March 2,987,849 903,802 870,730 2,905,328 -2.76%
April 3,814,928 827,079 870,807 3,776,135 -1.02%
May 4,821,039 1,006,111 983,892 4,760,027 -1.27%
June 5,796,759 975,721 921,356 5,681,383 -1.99%
July 6,836,449 1,039,690 996,390 6,677,774 -2.32%
August 7,953,072 1,116,623 1,090,706 7,768,480 -2.32%
September 8,995,564 1,042,491 1,018,295 8,786,775 -2.32%
October 10,116,626 1,121,062 1,095,042 9,881,817 -2.32%
November 11,238,239 1,121,613 1,095,581 10,977,398 -2.32%
December 12,300,000 1,061,761 1,037,117 12,014,515 -2.32%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Revenue Summary-Real Personal/Property Tax
2024
City of Edmonds, WA
Monthly Revenue Summary-Sales Tax
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
11,000,000
12,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Real Personal/Property Tax
Current Year Budget Prior Year
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
11,000,000
12,000,000
13,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Sales and Use Tax
Current Year Budget Prior Year
2.3.a
Packet Pg. 20
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5
MAJOR GENERAL FUND REVENUE SUMMARY
Water Utility Tax
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 90,844$ 90,844$ 92,691$ 92,691 2.03%
February 154,355 63,511 62,177 154,868 0.33%
March 244,152 89,797 90,963 245,831 0.69%
April 304,356 60,204 62,146 307,977 1.19%
May 393,634 89,278 90,718 398,695 1.29%
June 463,947 70,313 69,703 468,398 0.96%
July 573,149 109,202 107,776 576,174 0.53%
August 666,476 93,327 93,820 669,993 0.53%
September 791,033 124,557 125,215 795,208 0.53%
October 881,630 90,597 91,075 886,283 0.53%
November 983,292 101,662 102,198 988,482 0.53%
December 1,047,289 63,997 64,335 1,052,816 0.53%
Sewer Utility Tax
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 101,297$ 101,297$ 101,472$ 101,472$ 0.17%
February 185,730 84,433 84,516 185,988 0.14%
March 286,530 100,799 101,250 287,238 0.25%
April 371,027 84,497 85,581 372,818 0.48%
May 472,427 101,400 101,036 473,855 0.30%
June 557,139 84,712 86,104 559,959 0.51%
July 659,773 102,634 103,022 662,981 0.49%
August 744,838 85,065 85,478 748,459 0.49%
September 850,226 105,388 105,900 854,359 0.49%
October 936,127 85,902 86,319 940,679 0.49%
November 1,039,506 103,379 103,881 1,044,560 0.49%
December 1,123,814 84,308 84,718 1,129,278 0.49%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Revenue Summary-Water Utility Tax
2024
City of Edmonds, WA
Monthly Revenue Summary-Sewer Utility Tax
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Water Utility Tax
Current Year Budget Prior Year
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Sewer Utility Tax
Current Year Budget Prior Year
2.3.a
Packet Pg. 21
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MAJOR GENERAL FUND REVENUE SUMMARY
General Fund - Charges for Services
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 410,810$ 410,810$ 297,980$ 297,980$ -27.47%
February 950,331 539,521 702,035 1,000,015 5.23%
March 1,344,389 394,057 1,404,775 2,404,790 78.88%
April 2,155,227 810,839 573,921 2,978,711 38.21%
May 3,145,803 990,576 477,751 3,456,462 9.88%
June 3,752,017 606,215 929,543 4,386,004 16.90%
July 4,337,554 585,536 494,283 4,880,288 12.51%
August 5,407,415 1,069,861 1,203,727 6,084,014 12.51%
September 6,079,591 672,176 756,282 6,840,296 12.51%
October 6,710,843 631,252 710,237 7,550,533 12.51%
November 7,388,870 678,027 762,865 8,313,398 12.51%
December 8,286,526 897,656 1,009,975 9,323,373 12.51%
*The monthly budget forecast columns are based on a five-year average.
City of Edmonds, WA
Monthly Revenue Summary-General Fund Charges for Services
2024
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
General Fund -Charges for Services
Current Year Budget Prior Year
2.3.a
Packet Pg. 22
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Title
2024 Adopted
Budget
7/31/2023
Expenditures
7/31/2024
Expenditures
Amount
Remaining % Spent
CITY COUNCIL 479,286$ 249,010$ 293,962$ 185,324$ 61%
OFFICE OF MAYOR 490,875 229,429 249,103 241,772 51%
HUMAN RESOURCES 1,222,438 531,164 706,032 516,406 58%
MUNICIPAL COURT 1,811,176 855,668 999,475 811,701 55%
ADMINISTRATIVE SERVICES 2,825,453 1,531,898 1,654,463 1,170,990 59%
CITY ATTORNEY 1,161,780 534,282 594,507 567,273 51%
NON-DEPARTMENTAL 6,857,495 10,555,304 3,163,393 3,694,102 46%
POLICE SERVICES 17,478,540 7,971,401 10,188,920 7,289,620 58%
SATELLITE OFFICE 172,105 62,723 84,737 87,368 49%
COMMUNITY SERVICES/ECONOMIC DEV.1,162,045 718,488 628,327 533,718 54%
PLANNING & DEVELOPMENT 4,396,605 2,263,472 2,197,191 2,199,414 50%
HUMAN SERVICES PROGRAM 320,940 144,476 142,572 178,368 44%
PARKS & RECREATION 6,520,597 3,206,401 3,393,117 3,127,480 52%
PUBLIC WORKS 4,500,279 2,296,154 2,392,008 2,108,271 53%
FACILITIES MAINTENANCE 2,638,179 2,209,753 1,981,439 656,740 75%
52,037,793$ 33,359,621$ 28,669,246$ 23,368,547$ 55%
EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN SUMMARY
CITY OF EDMONDS
2.3.a
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8
GENERAL FUND DEPARTMENT EXPENSE SUMMARY
City Council
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 34,240$ 34,240$ 40,574$ 40,574$ 18.50%
February 71,153 36,913 54,006 94,579 32.92%
March 112,189 41,036 35,007 129,587 15.51%
April 150,403 38,214 35,974 165,561 10.08%
May 193,081 42,678 57,697 223,258 15.63%
June 234,428 41,347 34,601 257,859 9.99%
July 275,019 40,591 36,103 293,962 6.89%
August 316,493 41,474 44,331 338,293 6.89%
September 357,868 41,375 44,224 382,517 6.89%
October 394,551 36,684 39,210 421,727 6.89%
November 435,285 40,734 43,540 465,267 6.89%
December 479,286 44,001 47,032 512,299 6.89%
Office of Mayor
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 40,561$ 40,561$ 33,901$ 33,901$ -16.42%
February 82,159 41,598 35,511 69,412 -15.52%
March 124,596 42,436 36,798 106,210 -14.76%
April 165,441 40,846 36,154 142,364 -13.95%
May 205,791 40,350 34,804 177,167 -13.91%
June 245,843 40,052 32,377 209,545 -14.76%
July 287,251 41,408 39,558 249,103 -13.28%
August 327,468 40,217 34,876 283,978 -13.28%
September 367,326 39,858 34,564 318,543 -13.28%
October 406,988 39,662 34,395 352,937 -13.28%
November 449,726 42,738 37,062 389,999 -13.28%
December 490,875 41,149 35,684 425,684 -13.28%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-City Council
2024
City of Edmonds, WA
Monthly Expenditure Summary-Office of Mayor
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
City Council
Current Year Budget Prior Year
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Office of Mayor
Current Year Budget Prior Year
2.3.a
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Human Resources
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 110,919$ 110,919$ 129,960$ 129,960$ 17.17%
February 206,083 95,165 103,533 233,493 13.30%
March 293,020 86,937 100,807 334,300 14.09%
April 385,026 92,006 98,181 432,481 12.33%
May 477,507 92,481 94,231 526,711 10.30%
June 609,764 132,257 93,012 619,724 1.63%
July 691,435 81,671 86,308 706,032 2.11%
August 781,445 90,009 91,910 797,941 2.11%
September 882,461 101,016 103,149 901,090 2.11%
October 976,331 93,870 95,852 996,942 2.11%
November 1,084,356 108,025 110,306 1,107,247 2.11%
December 1,222,438 138,082 140,997 1,248,244 2.11%
Municipal Court
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 133,120$ 133,120$ 136,698$ 136,698$ 2.69%
February 268,761 135,641 143,646 280,344 4.31%
March 408,462 139,701 138,149 418,493 2.46%
April 549,323 140,861 140,705 559,198 1.80%
May 702,755 153,432 144,216 703,414 0.09%
June 841,629 138,874 146,775 850,190 1.02%
July 987,720 146,091 149,286 999,475 1.19%
August 1,144,145 156,425 158,287 1,157,762 1.19%
September 1,291,990 147,845 149,604 1,307,367 1.19%
October 1,441,979 149,989 151,774 1,459,141 1.19%
November 1,629,476 187,497 189,728 1,648,869 1.19%
December 1,811,176 181,700 183,863 1,832,732 1.19%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Human Resources
2024
City of Edmonds, WA
Monthly Expenditure Summary-Municipal Court
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
1,300,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Human Resources
Current Year Budget Prior Year
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Municipal Court
Current Year Budget Prior Year
2.3.a
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Community Services/Economic Development
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 70,938$ 70,938$ 84,711$ 84,711$ 19.42%
February 150,629 79,691 85,764 170,475 13.18%
March 228,686 78,058 85,735 256,210 12.04%
April 308,932 80,246 91,280 347,490 12.48%
May 391,061 82,128 83,820 431,310 10.29%
June 480,392 89,331 95,126 526,436 9.58%
July 570,789 90,397 101,892 628,327 10.08%
August 679,369 108,580 119,525 747,853 10.08%
September 777,142 97,773 107,629 855,481 10.08%
October 877,976 100,834 110,999 966,480 10.08%
November 1,007,121 129,145 142,163 1,108,644 10.08%
December 1,162,045 154,924 170,541 1,279,185 10.08%
Administrative Services
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 288,918$ 288,918$ 274,596$ 274,596$ -4.96%
February 523,687 234,769 208,739 483,335 -7.71%
March 733,695 210,008 217,967 701,302 -4.42%
April 944,992 211,297 212,849 914,151 -3.26%
May 1,157,177 212,186 372,263 1,286,415 11.17%
June 1,442,022 284,845 184,491 1,470,906 2.00%
July 1,684,828 242,805 183,557 1,654,463 -1.80%
August 1,896,259 211,431 207,621 1,862,084 -1.80%
September 2,116,379 220,121 216,154 2,078,238 -1.80%
October 2,344,386 228,007 223,897 2,302,135 -1.80%
November 2,598,917 254,531 249,944 2,552,079 -1.80%
December 2,825,453 226,536 222,453 2,774,532 -1.80%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Community Services/Economic Development
2024
City of Edmonds, WA
Monthly Expenditure Summary-Administrative Services
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
1,300,000
1,400,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Community Services/Economic Development
Current Year Budget Prior Year
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
2,200,000
2,400,000
2,600,000
2,800,000
3,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Administrative Services
Current Year Budget Prior Year
2.3.a
Packet Pg. 26
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11
GENERAL FUND DEPARTMENT EXPENSE SUMMARY
City Attorney
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 96,815$ 96,815$ -$ -$ 0.00%
February 193,630 96,815 127,250 127,250 -34.28%
March 290,445 96,815 93,007 220,257 -24.17%
April 387,260 96,815 108,383 328,640 -15.14%
May 484,075 96,815 98,726 427,366 -11.71%
June 580,890 96,815 80,589 507,955 -12.56%
July 677,705 96,815 86,552 594,507 -12.28%
August 774,520 96,815 84,930 679,436 -12.28%
September 871,335 96,815 84,930 764,366 -12.28%
October 968,150 96,815 84,930 849,295 -12.28%
November 1,064,965 96,815 84,930 934,225 -12.28%
December 1,161,780 96,815 84,930 1,019,155 -12.28%
Police
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 1,325,644$ 1,325,644$ 1,320,779$ 1,320,779$ -0.37%
February 2,644,333 1,318,689 1,322,826 2,643,606 -0.03%
March 4,027,557 1,383,224 1,252,027 3,895,633 -3.28%
April 5,378,981 1,351,424 1,459,657 5,355,290 -0.44%
May 6,782,808 1,403,826 1,864,000 7,219,290 6.44%
June 8,239,937 1,457,130 1,522,517 8,741,807 6.09%
July 9,689,531 1,449,593 1,447,113 10,188,920 5.15%
August 11,039,396 1,349,866 1,419,437 11,608,357 5.15%
September 12,478,176 1,438,780 1,512,933 13,121,290 5.15%
October 13,942,747 1,464,571 1,540,053 14,661,343 5.15%
November 15,677,275 1,734,528 1,823,924 16,485,267 5.15%
December 17,478,540 1,801,265 1,894,101 18,379,368 5.15%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-City Attorney
2024
City of Edmonds, WA
Monthly Expenditure Summary-Police
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
City Attorney
Current Year Budget Prior Year
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Police
Current Year Budget Prior Year
2.3.a
Packet Pg. 27
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Planning & Development
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 340,178$ 340,178$ 269,177$ 269,177$ -20.87%
February 694,434 354,255 267,692 536,869 -22.69%
March 1,033,937 339,503 393,779 930,649 -9.99%
April 1,394,846 360,909 303,822 1,234,470 -11.50%
May 1,750,281 355,436 318,775 1,553,246 -11.26%
June 2,093,976 343,695 341,020 1,894,266 -9.54%
July 2,468,929 374,953 302,925 2,197,191 -11.01%
August 2,820,106 351,176 312,525 2,509,715 -11.01%
September 3,176,611 356,505 317,267 2,826,983 -11.01%
October 3,535,290 358,679 319,201 3,146,184 -11.01%
November 3,929,353 394,063 350,691 3,496,875 -11.01%
December 4,396,605 467,252 415,825 3,912,700 -11.01%
Parks & Recreation
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 498,850$ 498,850$ 453,277$ 453,277$ -9.14%
February 986,757 487,907 470,870 924,147 -6.35%
March 1,483,576 496,818 491,227 1,415,374 -4.60%
April 1,955,557 471,981 483,624 1,898,998 -2.89%
May 2,461,256 505,698 497,889 2,396,886 -2.62%
June 2,984,923 523,667 484,065 2,880,951 -3.48%
July 3,580,661 595,738 512,166 3,393,117 -5.24%
August 4,186,784 606,123 574,376 3,967,493 -5.24%
September 4,840,484 653,700 619,461 4,586,954 -5.24%
October 5,394,700 554,215 525,187 5,112,141 -5.24%
November 5,962,605 567,905 538,160 5,650,301 -5.24%
December 6,520,597 557,992 528,766 6,179,068 -5.24%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Planning & Development
2024
City of Edmonds, WA
Monthly Expenditure Summary-Parks & Recreation
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Planning & Development
Current Year Budget Prior Year
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
5,000,000
5,500,000
6,000,000
6,500,000
7,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Parks & Recreation
Current Year Budget Prior Year
2.3.a
Packet Pg. 28
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Facilities Maintenance
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 156,775$ 156,775$ 280,811$ 280,811$ 79.12%
February 389,674 232,899 265,070 545,881 40.09%
March 593,572 203,898 223,593 769,473 29.63%
April 769,278 175,706 218,971 988,445 28.49%
May 948,275 178,997 203,576 1,192,021 25.70%
June 1,082,249 133,974 575,626 1,767,646 63.33%
July 1,241,211 158,962 213,793 1,981,439 59.64%
August 1,449,110 207,898 331,884 2,313,323 59.64%
September 1,701,700 252,590 403,228 2,716,551 59.64%
October 1,994,272 292,572 467,055 3,183,606 59.64%
November 2,251,849 257,577 411,190 3,594,796 59.64%
December 2,638,179 386,330 616,728 4,211,524 59.64%
Engineering
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 301,531$ 301,531$ 283,081$ 283,081$ -6.12%
February 604,565 303,034 286,618 569,699 -5.77%
March 913,824 309,259 255,452 825,151 -9.70%
April 1,223,821 309,997 270,205 1,095,355 -10.50%
May 1,553,842 330,021 260,871 1,356,226 -12.72%
June 1,868,266 314,424 260,767 1,616,993 -13.45%
July 2,185,239 316,973 264,710 1,881,703 -13.89%
August 2,491,236 305,997 263,494 2,145,197 -13.89%
September 2,797,476 306,240 263,703 2,408,899 -13.89%
October 3,102,475 304,999 262,634 2,671,533 -13.89%
November 3,439,952 337,477 290,600 2,962,134 -13.89%
December 3,777,853 337,901 290,966 3,253,099 -13.89%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Facilities Maintenance
2024
City of Edmonds, WA
Monthly Expenditure Summary-Engineering
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Facilities Maintenance
Current Year Budget Prior Year
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Engineering
Current Year Budget Prior Year
2.3.a
Packet Pg. 29
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Non-Departmental
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 926,027$ 926,027$ 1,244,387$ 1,244,387$ -3.54%
February 1,489,596 563,569 221,547 1,465,934 -6.64%
March 2,012,000 522,404 285,014 1,750,948 -6.99%
April 2,395,260 383,260 211,983 1,962,932 -4.75%
May 2,923,480 528,220 178,984 2,141,916 -2.70%
June 3,677,256 753,776 824,054 2,965,970 -1.47%
July 4,126,291 449,035 197,423 3,163,393 -2.31%
August 4,662,507 536,216 411,086 3,574,480 -2.31%
September 5,123,698 461,191 353,569 3,928,049 -2.31%
October 5,544,111 420,414 322,307 4,250,356 -2.31%
November 6,294,725 750,614 575,453 4,825,809 -2.31%
December 6,857,495 562,770 431,444 5,257,253 -2.31%
City of Edmonds, WA
Monthly Expenditure Summary-Non-Departmental
2024
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Non-Departmental
Current Year Budget Prior Year
*The monthly budget forecast columns are based on a five-year average.
2.3.a
Packet Pg. 30
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FUND SUMMARIES
Fund 016 - Building Maintenance Fund
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 127,788$ 127,788$ 138,032$ 138,032$ 8.02%
February 255,575 127,788 481,478 619,510 142.40%
March 383,363 127,788 9,472 628,982 64.07%
April 511,151 127,788 2,113 631,095 23.47%
May 638,938 127,788 28,074 659,169 3.17%
June 766,726 127,788 868 660,037 -13.91%
July 894,514 127,788 6,854 666,892 -25.45%
August 1,022,302 127,788 95,270 762,162 -25.45%
September 1,150,089 127,788 95,270 857,432 -25.45%
October 1,277,877 127,788 95,270 952,702 -25.45%
November 1,405,665 127,788 95,270 1,047,972 -25.45%
December 1,533,453 127,788 95,270 1,143,243 -25.45%
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 016 - Building Maintenance Fund
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 016 -Building Maintenance Fund
Current Year Budget Prior Year
*The monthly budget forecast columns are based on a five-year average.
2.3.a
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FUND SUMMARIES
Real Estate Excise Tax 1 & 2
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 225,388$ 225,388$ 158,734$ 158,734$ -29.57%
February 376,297 150,909 141,173 299,908 -20.30%
March 569,768 193,471 237,275 537,183 -5.72%
April 775,427 205,659 354,193 891,375 14.95%
May 1,036,020 260,593 338,546 1,229,921 18.72%
June 1,293,139 257,119 321,623 1,551,544 19.98%
July 1,573,012 279,874 347,663 1,899,207 20.74%
August 1,849,679 276,667 334,039 2,233,246 20.74%
September 2,151,102 301,423 363,928 2,597,174 20.74%
October 2,420,735 269,633 325,547 2,922,721 20.74%
November 2,687,175 266,440 321,692 3,244,413 20.74%
December 3,000,000 312,825 377,695 3,622,108 20.74%
Fund 512 - Technology Rental Fund Expenses
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 278,067$ 278,067$ 450,425$ 450,425$ 61.98%
February 459,653 181,586 88,246 538,670 17.19%
March 687,018 227,364 99,476 638,146 -7.11%
April 781,894 94,876 88,852 726,999 -7.02%
May 882,974 101,080 118,249 845,248 -4.27%
June 1,005,318 122,345 90,723 935,972 -6.90%
July 1,131,059 125,740 137,346 1,073,318 -5.11%
August 1,299,834 168,775 160,159 1,233,476 -5.11%
September 1,465,789 165,955 157,483 1,390,959 -5.11%
October 1,643,179 177,391 168,335 1,559,294 -5.11%
November 1,772,621 129,442 122,833 1,682,127 -5.11%
December 2,011,076 238,455 226,282 1,908,409 -5.11%
*The monthly budget forecast columns are based on a five-year average.
City of Edmonds, WA
Monthly Revenue Summary-Real Estate Excise Tax 1 & 2
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 512 - Technology Rental Fund
2024
0
300,000
600,000
900,000
1,200,000
1,500,000
1,800,000
2,100,000
2,400,000
2,700,000
3,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Real Estate Excise Tax 1 & 2
Current Year Budget Prior Year
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
2,200,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 512 -Technology Rental Fund Expenses
Current Year Budget Prior Year
2.3.a
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FUND 421 – WATER UTILITY FUND SUMMARY
Fund 421 - Water Utility Fund Revenues
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 980,443$ 980,443$ 1,090,370$ 1,090,370$ 11.21%
February 1,712,436 731,993 711,773 1,802,143 5.24%
March 2,701,940 989,503 1,075,486 2,877,629 6.50%
April 3,356,766 654,827 785,359 3,662,988 9.12%
May 4,316,356 959,590 1,061,688 4,724,677 9.46%
June 5,115,288 798,932 847,725 5,572,402 8.94%
July 6,310,311 1,195,023 1,254,684 6,827,086 8.19%
August 7,304,483 994,172 1,075,588 7,902,674 8.19%
September 8,635,357 1,330,874 1,439,864 9,342,538 8.19%
October 9,613,693 978,336 1,058,456 10,400,994 8.19%
November 11,500,392 1,886,699 2,041,208 12,442,202 8.19%
December 12,314,744 814,352 881,042 13,323,244 8.19%
Fund 421 - Water Utility Fund Expenses
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 641,026$ 641,026$ 503,314$ 503,314$ -21.48%
February 1,300,480 659,453 589,193 1,092,506 -15.99%
March 2,051,423 750,943 586,629 1,679,136 -18.15%
April 2,887,784 836,362 705,351 2,384,486 -17.43%
May 3,786,010 898,226 592,313 2,976,799 -21.37%
June 5,237,771 1,451,761 900,416 3,877,215 -25.98%
July 6,385,874 1,148,103 955,142 4,832,357 -24.33%
August 7,778,196 1,392,322 1,053,606 5,885,963 -24.33%
September 8,859,399 1,081,203 818,174 6,704,137 -24.33%
October 9,774,932 915,533 692,808 7,396,945 -24.33%
November 11,599,342 1,824,410 1,380,578 8,777,523 -24.33%
December 13,837,584 2,238,242 1,693,736 10,471,259 -24.33%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Revenue Summary-Fund 421 - Water Utility Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 421 - Water Utility Fund
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
11,000,000
12,000,000
13,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 421 -Water Utility Fund Revenues
Current Year Budget Prior Year
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
11,000,000
12,000,000
13,000,000
14,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 421 -Water Utility Fund Expenses
Current Year Budget Prior Year
2.3.a
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FUND 422 – STORM UTILITY FUND SUMMARY
Fund 422 - Storm Utility Fund Revenues
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 672,191$ 672,191$ 542,348$ 542,348$ -19.32%
February 2,111,161 1,438,970 1,169,775 1,712,123 -18.90%
March 2,762,897 651,736 544,143 2,256,265 -18.34%
April 3,296,452 533,555 499,506 2,755,771 -16.40%
May 3,895,946 599,495 551,418 3,307,189 -15.11%
June 4,413,556 517,610 492,629 3,799,818 -13.91%
July 4,999,182 585,625 568,123 4,367,941 -12.63%
August 6,298,086 1,298,904 1,134,893 5,502,834 -12.63%
September 6,894,458 596,373 521,069 6,023,903 -12.63%
October 7,448,274 553,816 483,886 6,507,790 -12.63%
November 8,506,043 1,057,769 924,206 7,431,996 -12.63%
December 9,086,716 580,673 507,352 7,939,347 -12.63%
Fund 422 - Storm Utility Fund Expenses
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 728,094$ 728,094$ 397,818$ 397,818$ -45.36%
February 2,286,738 1,558,644 457,806 855,625 -62.58%
March 2,992,676 705,938 332,627 1,188,252 -60.29%
April 3,570,604 577,928 372,195 1,560,446 -56.30%
May 4,219,957 649,352 354,257 1,914,703 -54.63%
June 4,780,614 560,658 443,803 2,358,506 -50.67%
July 5,414,944 634,330 427,407 2,785,914 -48.55%
August 6,821,872 1,406,928 723,845 3,509,759 -48.55%
September 7,467,843 645,970 332,343 3,842,102 -48.55%
October 8,067,717 599,874 308,627 4,150,729 -48.55%
November 9,213,457 1,145,740 589,467 4,740,196 -48.55%
December 9,842,422 628,965 323,594 5,063,790 -48.55%
*The monthly budget forecast columns are based on a five-year average.
City of Edmonds, WA
Monthly Revenue Summary-Fund 422 - Storm Utility Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 422 - Storm Utility Fund
2024
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 422 -Storm Utility Fund Revenues
Current Year Budget Prior Year
0
1,000,000
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3,000,000
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7,000,000
8,000,000
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JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 422 -Storm Utility Fund Expenses
Current Year Budget Prior Year
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FUND 423 – SEWER UTILITY FUND SUMMARY
Fund 423 - Sewer Utility Fund Revenues
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 1,687,922$ 1,687,922$ 1,476,339$ 1,476,339$ -12.54%
February 3,157,126 1,469,204 1,418,266 2,894,605 -8.32%
March 4,456,021 1,298,895 1,449,133 4,343,737 -2.52%
April 5,760,746 1,304,725 2,353,378 6,697,115 16.25%
May 7,543,920 1,783,174 1,462,475 8,159,590 8.16%
June 8,534,081 990,162 1,340,953 9,500,543 11.32%
July 10,048,029 1,513,948 1,507,137 11,007,681 9.55%
August 11,755,236 1,707,207 1,870,256 12,877,937 9.55%
September 13,439,062 1,683,826 1,844,642 14,722,578 9.55%
October 14,631,473 1,192,411 1,306,294 16,028,872 9.55%
November 18,018,844 3,387,371 3,710,887 19,739,760 9.55%
December 20,019,768 2,000,924 2,192,025 21,931,784 9.55%
Fund 423 - Sewer Utility Fund Expenses
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 1,035,408$ 1,035,408$ 1,373,009$ 1,373,009$ 32.61%
February 2,009,872 974,464 1,032,356 2,405,366 19.68%
March 3,218,482 1,208,610 1,115,359 3,520,725 9.39%
April 4,925,786 1,707,303 1,702,160 5,222,885 6.03%
May 6,562,115 1,636,329 910,860 6,133,745 -6.53%
June 8,402,137 1,840,022 1,362,165 7,495,911 -10.79%
July 10,222,675 1,820,538 1,246,323 8,742,234 -14.48%
August 11,835,035 1,612,360 1,378,859 10,121,093 -14.48%
September 14,187,219 2,352,184 2,011,542 12,132,635 -14.48%
October 15,857,930 1,670,711 1,428,760 13,561,395 -14.48%
November 17,953,941 2,096,010 1,792,467 15,353,862 -14.48%
December 23,397,507 5,443,566 4,655,233 20,009,095 -14.48%
*The monthly budget forecast columns are based on a five-year average.
City of Edmonds, WA
Monthly Revenue Summary-Fund 423 - Sewer Utility Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 423 - Sewer Utility Fund
2024
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
22,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 423 -Sewer Utility Fund Revenues
Current Year Budget Prior Year
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
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14,000,000
16,000,000
18,000,000
20,000,000
22,000,000
24,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 423 -Sewer Utility Fund Expenses
Current Year Budget Prior Year
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20
UTILITY EXPENSE SUMMARY
Title
2024 Adopted
Budget
7/31/2023
Expenditures
7/31/2024
Expenditures
Amount
Remaining % Spent
WATER UTILITY FUND 13,837,584$ 5,131,925$ 4,832,357$ 9,005,228$ 35%
STORM UTILITY FUND 9,842,422 2,991,356 2,785,914 7,056,508 28%
SEWER/WWTP UTILITY FUND 23,397,507 8,542,895 8,742,234 14,655,273 37%
BOND RESERVE FUND 1,988,830 574,892 556,892 1,431,938 28%
49,066,343$ 17,241,068$ 16,917,396$ 32,148,947$ 34%
EXPENDITURES - UTILITY- BY FUND IN SUMMARY
CITY OF EDMONDS
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21
INVESTMENT PORTFOLIO SUMMARY
Years
Agency/Investment Purchase to Par Market Maturity Coupon
Issuer Type Price Maturity Value Value Date Rate
FFCB Bonds 1,960,906 0.12 2,000,000 1,995,386 09/13/24 3.50%
FHLB Bonds 950,774 0.30 1,000,000 987,113 11/18/24 0.90%
Spokane County WA Bonds 207,260 0.34 200,000 197,870 12/01/24 2.10%
First Financial - Waterfront Center CD 245,000 0.41 245,000 245,000 12/27/24 2.47%
FHLMC Bonds 974,798 0.62 1,000,000 990,955 03/13/25 3.75%
Farmer Mac Bonds 1,995,088 0.71 2,000,000 1,986,371 04/17/25 4.25%
FHLB Bonds 969,524 0.99 1,000,000 986,829 07/28/25 3.60%
US Treasury Note Note 964,597 1.04 1,000,000 983,570 08/15/25 3.13%
FFCB Bonds 1,982,692 1.36 2,000,000 1,982,451 12/08/25 4.13%
Farmer Mac Bonds 1,994,172 1.51 2,000,000 1,979,393 02/02/26 3.95%
FHLMC Bonds 993,661 1.98 1,115,000 1,038,695 07/22/26 0.83%
Farmer Mac Bonds 2,057,309 2.30 2,305,000 2,144,296 11/17/26 1.15%
First Financial - ECA CD 2,803,516 3.29 2,803,516 2,803,516 11/15/27 2.96%
TOTAL SECURITIES 18,099,298 1.15 18,668,516 18,321,446
Washington State Local Gov't Investment Pool 52,335,209 52,335,209 Demand 5.41%
TOTAL PORTFOLIO 71,003,725$ 70,656,655$
As of July 31, 2024
City of Edmonds Investment Portfolio Detail
First
Financial -
CD, 16%Spokane
County
WA, 1%
FFCB, 21%
FHLB,
11%
FHLMC,
11%
Farmer
Mac, 34%
Issuer Diversification Checking,
$6.60 , 9%
State LGIP,
$52.34 ,
67%
CD's , $3.05
, 4%
Note,
$1.00 , 1%Bonds ,
$14.62 ,
19%
Cash and Investment Balances
(in $ Millions)
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INVESTMENT PORTFOLIO SUMMARY
$1,236,875
$947,931 $950,684 $1,091,709
$1,683,872 $1,614,986
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
2019 2020 2021 2022 2023 YTD 2024
Annual Interest Income
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City Council Agenda Item
Meeting Date: 08/20/2024
State Auditor Office 2023 Entrance Interview
Staff Lead: Kim Dunscombe
Department: Administrative Services
Preparer: Kimberly Dunscombe
Background/History
The 2023 financial audit has officially commenced as of July. This crucial process will help ensure the
accuracy and integrity of our financial statements, as well as our adherence to applicable regulations
and standards. The entrance interview, which marks the initial phase of the audit where the auditors
outline their focus areas and methodologies, is scheduled for August 20th at the Finance Committee.
During this meeting, the auditors will communicate any additional areas of emphasis that go beyond
their standard audit protocols.
Staff Recommendation
State Auditor Office guest presentation.
Narrative
This will commence exactly at 5:30pm. We will be joined by Irina Frolova and Kristina Baylor from the
State Auditor's Office.
2.4
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