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2024-10-15 Council FIN Packet1 2 of BbMG ti Agenda Edmonds City Council 1,00 FINANCE COMMITTEE CITY COUNCIL CONFERENCE ROOM 121 - 5TH AVENUE N, EDMONDS, WA 98020 OCTOBER 15, 2024, 5:30 PM COUNCIL COMMITTEE MEETINGS ARE WORK SESSIONS FOR THE COUNCIL AND CITY STAFF. COMMITTEE MEETING AGENDAS DO NOT INCLUDE AUDIENCE COMMENTS OR PUBLIC HEARINGS. STAFF AND COUNCILMEMBERS ATTEND COMMITTEE MEETINGS VIRTUALLY, AND MEMBERS OF THE PUBLIC ARE ENCOURAGED TO ATTEND THE SAME WAY. PERSONS WISHING TO ATTEND THIS MEETING VIRTUALLY IN LIEU OF IN -PERSON ATTENDANCE CAN CLICK ON OR PASTE THE FOLLOWING ZOOM MEETING LINK INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM. US/J/95798484261 OR JOIN BY DIAL -UP PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 IF MEMBERS OF THE PUBLIC CANNOT ACCESS THE VIRTUAL COMMITTEE MEETINGS WITH THEIR PERSONAL DEVICES, A MONITOR IS PROVIDED AT THE CITY COUNCIL CONFERENCE ROOM AT 121 5TH AVE N, EDMONDS WA. COMMITTEE MEMBERS: WILL CHEN (CHAIR), JENNA NAND, COUNCIL PRESIDENT (EX-OFFICIO MEMBER) CALL TO ORDER COMMITTEE BUSINESS 1. September Quarterly Financial Report (15 min) 2. 2024 October Budget Amendment Ordinance (20 min) ADJOURNMENT: 7:30 PM Edmonds City Council Agenda October 15, 2024 Page 1 2.1 City Council Agenda Item Meeting Date: 10/15/2024 September Quarterly Financial Report Staff Lead: Kim Dunscombe Department: Administrative Services Preparer: Kimberly Dunscombe Background/History September Quarterly Financial Report Staff Recommendation Information only Narrative <Type or insert text here> Attachments: September 2024 Quarterly Financial Report v1 Packet Pg. 2 I 2.1.a I OV EDP 7o :�0 d un I)7C. 1 $9v CITY OF EDMONDS QUARTERLY BUDGETARY FINANCIAL REPORT SEPTEMBER 2024 Packet Pg. 3 1 I 2.1.a I MONTHLY HIGHLIGHTS GENERAL FUND HIGHLIGHTS • Real Personal/Property Tax and EMS Levy is up $307,991 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 $118,905 from this point last year but is $(295,647) under the cumulative budget forecast. • 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 $(104,970) falling short of their perspective cumulative budget. • Development services revenues overall are up a total of $540,758 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 $58,222 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. General Fund Tax Revenue (2024 YTD) 14'000, 000 12,000,000 - v 10,000,00041 - 8,000,000 X 6,000, 000 a 4,000, 000 ■ 2,000,000 Sales Tax Property Tax EMS Tax Other Taxes Actual 8,699,917 6,339,107 2,424,077 6,539,193 ■ Budget 12,300,000 11,327,000 4,578,000 9,229,949 M10:12AV1ill 111:1[e]:I110001V • Interest charged to the Street Fund for negative cash balance in 2024 equals $12,303 to date. REET FUND HIGHLIGHTS • REET revenues are 18.52% or $405,599 higher than last year. Projections indicate REET revenues are on track to meet the budget target of $3.0 million. UTILITY FUNDS HIGHLIGHTS • The revenue increases shown on pages 17-19 is due to the 2024 Revenue Bond Issue which was new money for Water and Stormwater, as well as refunding money for the 2013 bond issue to all three utilities. The expense increase was due to payment sent to escrow to pay off the 2013 bond issuance. 1 Packet Pg. 4 2.1.a City of Edmonds All Funds Financial Summary As of September 30, 2024 Beginning Fund Revenues / Expenditures / Revenues less Ending Fund Fund Balance Sources Uses Expenditures Balance Cash Balance Governmental 001 General Fund 2,492,460 34,610,336 37,416,624 (2,806,287) (313,827) (3,454,731) 009 LEOFF Medical Insurance Reserve 139,774 125,000 241,689 (116,689) 23,085 32,064 012 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 90,515 1,104,662 (1,014,147) 2,742,020 2,796,092 017 Marsh Restoration 853,595 300 - 300 853,895 853,895 018 Homeless Response 200,000 - - 200,000 200,000 Q 019 Opioid Response 74,119 382,437 382,437 456,556 456,556 Total General Funds 9,753,732 35,208,587 38,767,359 (3,558,772) 6,194,960 3,117,106 Special Revenue Funds = 104 Drug Enforcement 40,843 5,615 - 5,615 46,457 46,279 =_ 111 Street 4,701 1,902,314 1,778,818 123,496 128,197 5,458 u_ 112 Street Construction 2,734,808 3,377,514 2,229,527 1,147,987 3,882,795 2,957,675 L 117 Municipal Arts 657,265 96,163 50,461 45,702 702,967 694,483 120 Hotel / Motel 151,247 100,780 70,383 30,396 181,643 163,780 3 121 Employee Parking 83,814 18,713 911 17,802 101,616 100,539 d 122 Youth Scholarship 17,868 2,453 300 2,153 20,022 19,792 az 123 Tourism Promotion 138,157 39,105 16,453 22,652 160,809 153,842 m 125 REET2 1,992,459 1,436,566 839,894 596,672 2,589,131 2,615,299 Q 126 R E ET 1 3,957,800 1,553,857 728,486 825,371 4,783,171 4,730,110 0 U) 127 Gifts Catalog 3,140,448 368,878 430,938 (62,060) 3,078,388 3,037,812 v 130 Cemetery Maintenance 196,245 146,090 191,349 (45,259) 150,986 148,315 > 137 Cemetery Trust 1,212,121 86,572 73,000 13,572 1,225,693 1,210,112 0 O 138 Sister City 18,681 3,531 4,822 (1,291) 17,390 17,146 sZ d 140 Business Improvement 37,682 71,291 51,154 20,137 57,819 57,819 141 Affordable Housing 309,127 45,571 - 45,571 354,697 346,300 142 Edmonds Rescue 36,932 6,867,416 6,869,475 (2,059) 34,873 34,873 v 143 Tree Fund 222,354 42,802 200,269 (157, 467) 64,887 61,707 Capital Projects 139,615 857,464 708,465 149,000 288,615 278,169 u_ Debt Service - 35,901 35,551 350 350 - Enterprise Funds C 411 Combined Utility Operation - 114,730 - 114,730 114,730 158,216 M 421 Water UtiIity 9,601,886 23,252,345 12,185,891 11,066,454 20,668,340 20,266,236 d CY 422 Storm Water Utility 6,983,494 9,409,608 5,026,341 4,383,267 11,366,761 10,883,691 c 423 Sewer/ Wastewater Treatment Plar 14,903,525 20,795,387 19,393,172 1,402,215 16,305,740 16,615,876 N 424 Bond Reserve Fund 843,961 576,346 1,399,406 (823,060) 20,901 20,900 Internal Service Funds E 511 Equipment Rental 5,298,245 2,133,628 1,918,725 214,903 5,513,148 5,405,615 d Q 512 Technology Rental 421,587 1,634,103 1,292,847 341,256 762,843 768,128 N All Funds 62,898,595 110,183,330 94,263,997 15,919,333 78,817,928 73,915,278 d E s t� ca Q 2 Packet Pg. 5 I 2.1.a I GENERAL FUND SUMMARY City of Edmonds, WA Monthly Revenue Summary -General Fund 2024 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 2,821,110 31,627,693 2.34% September 33,691,847 2,788,034 2,982,389 34,610,083 2.73% October 39,258,675 5,566,828 November 48,115,504 8,856,828 December 51,302,492 3,186,988 O iZ 4) !C C !C C LL L 4) is 7 CY L 4) M E d i2 d U) City of Edmonds, WA Monthly Expenditure Summary -General Fund 2024 General Fund Cumulative Monthly Budget Forecast Budget Forecast Monthly Actuals YTD Actuals Variance % 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 4,100,634 32,769,880 -2.19% September 37,673,197 4,168,900 4,646,743 37,416,624 -0.68% October 41,800,681 4,127,484 November 46,965,717 5,165,036 December 52,037,793 5,072,076 *The monthly budget forecast columns are based on a five-year average. 3 Packet Pg. 6 MAJOR GENERAL FUND REVENUE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Real Personal & EMS Property Tax 2024 Real Personal & EMS Property Tax Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ 39,472 $ 39,472 $ 21,015 $ 21,015 -46.76% February 220,153 180,681 366,893 387,909 76.20% March 1,232,162 1,012,009 755,431 1,143,339 -7.21% April 7,302,618 6,070,456 6,153,028 7,296,367 -0.09% May 8,584,040 1,281,422 1,063,611 8,359,978 -2.61% June 8,660,449 76,409 74,286 8,434,264 -2.61% July 8,695,629 35,180 30,722 8,464,987 -2.65% August 8,772,089 76,460 54,697 8,519,684 -2.88% September 9,020,162 248,073 243,501 8,763, 185 -2.85% October 14,815,200 5,795,038 November 15,849,934 1,034,734 December 15,905,000 55,066 Sales and Use Tax Real Personal & EMS Property Tax 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC -Current Year -Budget -Prior Year City of Edmonds, WA Monthly Revenue Summary -Sales Tax 2024 Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ February March April May June July August September October November December 956,967 $ 2,084,047 2,987,849 3,814,928 4,821,039 5,796,759 6,836,449 7,953,072 8,995,564 10,116,626 11,238,239 12,300,000 956,967 $ 1,127,080 903,802 827,079 1,006,111 975,721 1,039,690 1,116,623 1,042,491 1,121,062 1,121,613 1,061,761 975,066 $ 975,066 1,059,532 2,034,598 870,730 2,905,328 870,807 3,776,135 983,892 4,760,027 921,356 5,681,383 996,390 6,677,774 1,022,482 7,700,256 999,661 8,699,917 1.89% -2.37% -2.76 % -1.02 % -1.27% -1.99% -2.32 % -3.18% -3.29% Sales and Use Tax 111,000,000 9,000,000 8,000,000 7,000,000 61000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year -Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. 0 Q 4) !C C !C LL L 4) 7 CY L 4) M E d ++ !Z d U) 4 Packet Pg. 7 MAJOR GENERAL FUND REVENUE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Water Utility Tax 2024 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 94,292 670,466 0.60% September 791,033 124,557 127,195 797,661 0.84% October 881,630 90,597 November 983,292 101,662 December 1,047,289 63,997 Water Utility Tax 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year -Budget - Prior Year City of Edmonds, WA Monthly Revenue Summary -Sewer Utility Tax 2024 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 85,336 748,317 0.47% September 850,226 105,388 106,629 854,946 0.56% October 936,127 85,902 November 1,039,506 103,379 December 1,123,814 84,308 Sewer Utility Tax 1,200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC _Current Year -Budget Prior Year *The monthly budget forecast columns are based on a five-year average. 5 Packet Pg. 8 I 2.1.a I MAJOR GENERAL FUND REVENUE SUMMARY City of Edmonds, WA Monthly Revenue Summary -General Fund Charges for Services 2024 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 1,069,861 609,605 5,489,893 1.53% September 6,079,591 672,176 571,317 6,061,210 -0.30% October 6,710,843 631,252 November 7,388,870 678,027 December 8,286,526 897,656 *The monthly budget forecast columns are based on a five-year average. 6 Packet Pg. 9 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I CITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN SUMMARY Title CITY COUNCIL OFFICE OF MAYOR HUMAN RESOURCES MUNICIPAL COURT ADMINISTRATIVE SERVICES CITY ATTORNEY NON -DEPARTMENTAL POLICE SERVICES SATELLITE OFFICE COMMUNITY SERVICESIECONOMIC DEV. PLANNING & DEVELOPMENT f:lilu/•�►�.�i1 7�l PARKS& RECREATION PUBLIC WORKS FACILITIES MAINTENANCE 2024 Amended 9/30/2023 9/30/2024 Amount Budget Expenditures Expenditures Remaining %Spent $ 479,286 $ 319,066 $ 364,463 $ 114,823 76% 490,875 290,606 321,160 169,715 65% 1,222,438 694,844 885,491 336,947 72% 1,811,176 1,097,393 1,309,255 501,921 72% 2,825,453 1,936,486 2,044,774 780,679 72% 1,161,780 704,483 765,730 396,050 66% 6,857,495 13,727,753 5,258,455 1,599,040 77% 17,478,540 10,558,632 12,974,131 4,504,409 74% 172,105 96,119 107,519 64,586 62% 1,162,045 962,363 821,368 340,677 71% 4,396,605 2,913,241 2,976,521 1,420,084 68% 320,940 191,991 168,985 151,955 5370 6,520,597 4,346,603 4,398,405 2,122,192 67% 4,500,279 2,967,809 3,042,136 1,458,143 68% 2,638,179 2,642,907 1,978,230 659,949 75% $ 52,037,793 $ 43,450,297 $ 37,416,624 $ 14,621,169 72% F O CL O C R C LL L 4) iY L O M E d O_ d Cn 7 Packet Pg. 10 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -City Council 2024 City Council Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ 34,240 $ 34,240 $ February 71,153 36,913 March 112,189 41,036 April 150,403 38,214 May 193,081 42,678 June 234,428 41,347 July 275,019 40,591 August 316,493 41,474 September 357,868 41,375 October 394,551 36,684 November 435,285 40,734 December 479,286 44,001 40,574 $ 40,574 18.50% 54,006 94,579 32.92% 35,007 129,587 15.51% 35,974 165,561 10.08% 57,697 223,258 15.63% 34,601 257,859 9.99% 36,103 293,962 6.89% 35,453 329,415 4.08% 35,048 364,463 1.84% City of Edmonds, WA Monthly Expenditure Summary -Office of Mayor 2024 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 35,573 284,676 -13.07% September 367,326 39,858 36,485 321,160 -12.57% October 406,988 39,662 November 449,726 42,738 December 490,875 41,149 Office of Mayor 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC �Cu cnt Year Budget Prior Year *The monthly budget forecast columns are based on a five-year average. N Packet Pg. 11 1 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -Human Resources 2024 Human Resources Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ February March April May June July August September October November December 110,919 $ 206,083 293,020 385,026 477,507 609,764 691,435 781,445 882,461 976,331 1,084,356 1,222,438 110,919 $ 95,165 86,937 92,006 92,481 132,257 81,671 90,009 101,016 93,870 108,025 138,082 129,960 $ 129,960 103,533 233,493 100,807 334,300 98,181 432,481 94,231 526,711 93,012 619,724 86,308 706,032 83,429 789,461 96,030 885,491 17.17 % 13.30% 14.09% 12.33% 10.30 % 1.63% 2.11% 1.03% 0.34 % Human Resources I,Juu, V 11200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget Prior Year City of Edmonds, WA Monthly Expenditure Summary -Municipal Court 2024 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 1,144,145 156,425 157,084 1,156,559 1.08% September 1,291,990 147,845 152,696 1,309,255 1.34% October 1,441,979 149,989 November 1,629,476 187,497 December 1,811,176 181,700 Municipal Court 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year � Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. 9 Packet Pg. 12 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -Community Services/Economic Development 2024 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 679,369 108,580 107,902 736,229 8.37% September 777,142 97,773 85,139 821,368 5.69% October 877,976 100,834 November 1,007,121 129,145 December 1,162,045 154,924 Administrative Services Community Services/Economic Development 11400,000 1,300,000 11200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC _ Current Year -Budget � Prior Year City of Edmonds, WA Monthly Expenditure Summary -Administrative Services 2024 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 1,896,259 211,431 199,026 1,853,490 -2.26% September 2,116,379 220,121 191,285 2,044,774 -3.38% October 2,344,386 228,007 November 2,598,917 254,531 December 2,825,453 226,536 Administrative Services 80Q000 60Q000 400,000 200,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC �Cutreat Year Budget Prior Year *The monthly budget forecast columns are based on a five-year average. 10 Packet Pg. 13 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -City Attorney 2024 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 96,815 119,143 713,650 -7.86% September 871,335 96,815 52,080 765,730 -12.12% October 968,150 96,815 November 1,064,965 96,815 December 1,161,780 96,815 Police City Attorney 11200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 20Q,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget -Prior Year City of Edmonds, WA Monthly Expenditure Summary -Police 2024 Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ February March April May June July August September October November December 1,325,644 $ 2,644,333 4,027,557 5,378,981 6,782,808 8,239,937 9,689,531 11,039,396 12,478,176 13,942,747 15,677,275 17,478,540 1,325,644 $ 1,318,689 1,383,224 1,351,424 1,403,826 1,457,130 1,449,593 1,349,866 1,438,780 1,464,571 1,734,528 1,801,265 1,320,779 $ 1,320,779 1,322,826 2,643,606 1,252,027 3,895,633 1,459,657 5,355,290 1,864,000 7,219,290 1,522,517 8,741,807 1,447,113 10,188, 920 1,415,097 11,604,017 1,370,114 12,974,131 -0.37% -0.03% -3.28% -0.44% 6.44% 6.09% 5.15% 5.11% 3.97% Police 8,000,000 6,000,000 4,000,000 2,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year Budget Prior Year *The monthly budget forecast columns are based on a five-year average. 11 Packet Pg. 14 I 2.1.a I GENERAL FUND DEPARTMENT EXPENSE SUMMARY City of Edmonds, WA Monthly Expenditure Summary -Planning & Development 2024 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 2,820,106 351,176 273,909 2,471,100 -12.38% September 3,176,611 356,505 505,421 2,976,521 -6.30% October 3,535,290 358,679 November 3,929,353 394,063 December 4,396,605 467,252 City of Edmonds, WA Monthly Expenditure Summary -Parks & Recreation 2024 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 4,186,784 606,123 535,834 3,928,951 -6.16% September 4,840,484 653,700 469,454 4,398,405 -9.13% October 5,394,700 554,215 November 5,962,605 567,905 December 6,520,597 557,992 Parks & Recreation 500,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. 12 Packet Pg. 15 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -Facilities Maintenance 2024 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 (192,314) 1,789,126 23.46% September 1,701,700 252,590 189,104 1,978,230 16.25% October 1,994,272 292,572 November 2,251,849 257,577 December 2,638,179 386,330 Facilities Maintenance 500,000 0i JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget -Prior Year City of Edmonds, WA Monthly Expenditure Summary -Engineering 2024 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 2,491,236 305,997 278,563 2,160,267 -13.29% September 2,797,476 306,240 266,795 2,427,061 -13.24% October 3,102,475 304,999 November 3,439,952 337,477 December 3,777,853 337,901 Engine a ring 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC _Current YearBudget Prior Year *The monthly budget forecast columns are based on a five-year average. 13 Packet Pg. 16 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -Non -Departmental 2024 Non -Departmental Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ 926,027 $ 926,027 $ 1,244,387 $ 1,244,387 34.38% February 1,489,596 563,569 221,547 1,465,934 -1.59% March 2,012,000 522,404 285,014 1,750,948 -12.97% April 2,395,260 383,260 211,983 1,962,932 -18.05% May 2,923,480 528,220 178,984 2,141,916 -26.73% June 3,677,256 753,776 824,054 2,965,970 -19.34% July 4,126,291 449,035 197,423 3,163,393 -23.34% August 4,662,507 536,216 975,531 4,138,924 -11.23% September 5,123,698 461,191 1,119,531 5,258,455 2.63% October 5,544,111 420,414 November 6,294,725 750,614 December 6,857,495 562,770 Non -Departmental 20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year - Budget Prior Year *The monthly budget forecast columns are based on a five-year average. 14 Packet Pg. 17 FUND SUMMARIES I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -Fund 016 - Building Maintenance Fund 2024 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 1,022,302 127,788 419,746 1,086,637 6.29% September 1,150,089 127,788 18,024 1,104,662 -3.95% October 1,277,877 127,788 November 1,405,665 127,788 December 1,533,453 127,788 Fund 016 -Building Maintenance Fund 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year -Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. 15 Packet Pg. 18 F O Q 4) w !C C !C C LL L 4) R 7 CY 4) M E d CL d Cn FUND SUMMARIES ■ 2.1.a City of Edmonds, WA Monthly Revenue Summary -Real Estate Excise Tax 1 & 2 2024 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 1,849,679 276,667 415,298 2,314,505 25.13% September 2,151,102 301,423 281,080 2,595,585 20.66% October 2,420,735 269,633 November 2,687,175 266,440 December 3,000,000 312,825 Real Estate Excise Tax 1 & 2 2,700,000 100,000 900,000 600,000 300,000 Pil- o JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget �Prior Year City of Edmonds, WA Monthly Expenditure Summary -Fund 512 - Technology Rental Fund 2024 Fund 512 - Technology Rental Fand 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 1,299,834 168,775 123,453 1,196,771 -7.93% September 1,465,789 165,955 96,076 1,292,847 -11.80% October 1,643,179 177,391 November 1,772,621 129,442 December 2,011,076 238,455 Fund 512 - Technology Rental Fund Expenses 2,200,000 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC �Cutrent Year -Budget �Prior Year *The monthly budget forecast columns are based on a five-year average. 16 Packet Pg. 19 I 2.1.a I FUND 421 - WATER UTILITY FUND SUMMARY City of Edmonds, WA Monthly Revenue Summary -Fund 421- Water Utility Fund 2024 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 14,908,155 21,735,241 197.56% September 8,635,357 1,330,874 1,517,104 23,252,345 169.27% October 9,613,693 978,336 November 11,500,392 1,886,699 December 12,314,744 814,352 City of Edmonds, WA Monthly Expenditure Summary -Fund 421- Water Utility Fund 2024 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 6,147,795 10,980,151 41.17% September 8,859,399 1,081,203 1,205,739 12,185,891 37.55% October 9,774,932 915,533 November 11,599,342 1,824,410 December 13,837,584 2,238,242 *The monthly budget forecast columns are based on a five-year average. 17 Packet Pg. 20 FUND 422 - STORM UTILITY FUND SUMMARY I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Fund 422 - Storm Utility Fund 2024 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 4,478,955 8,846,897 40.47% September 6,894,458 596,373 562,711 9,409,608 36.48% October 7,448,274 553,816 November 8,506,043 1,057,769 December 9,086,716 580,673 Fund 422 - Storm Utility Fund Revenues 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 JAN FEB MAR APR MAX JUN JUL AUG SEP OCT NOV DEC +Current Year -Budget Prior Year City of Edmonds, WA Monthly Expenditure Summary -Fund 422 - Storm Utility Fund 2024 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 1,293,997 4,079,910 -40.19% September 7,467,843 645,970 946,430 5,026,341 -32.69% October 8,067,717 599,874 November 9,213,457 1,145,740 December 9,842,422 628,965 Fund 422 - Storm Utility Fund Expenses 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year -Budget - Prior Year *The monthly budget forecast columns are based on a five-year average. 18 Packet Pg. 21 FUND 423 - SEWER UTILITY FUND SUMMARY I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Fund 423 - Sewer Utility Fund 2024 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 8,245,929 19,253,610 63.79% September 13,439,062 1,683,826 1,541,778 20,795,387 54.74% October 14,631,473 1,192,411 November 18,018,844 3,387,371 December 20,019,768 2,000,924 Fund 423 -Sewer Utility Fund Revenues 22,000,000 20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget Prior Year City of Edmonds, WA Monthly Expenditure Summary -Fund 423 - Sewer Utility Fund 2024 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 8,989,413 17,731,647 49.82% September 14,187,219 2,352,184 1,661,525 19,393,172 36.69% October 15,857,930 1,670,711 November 17,953,941 2,096,010 December 23,397,507 5,443,566 24,000,000 Fund 423 -Sewer Utility Fund Expenses 22,000,000 20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget -Prior Year *The monthly budget forecast columns are based on a five-year average. 19 Packet Pg. 22 I 2.1.a I UTILITY EXPENSE SUMMARY Title CITY OFIDMONDS EXPENDITURES - UTILITY- BY FUND IN SUMMARY 2024 Amended 9/30/2023 9/30/2024 Budget Expenditures Expenditures Amount Remaining %Spent WATER UTILITYFUND $ 13,837,584 $ 7,238,401 $ 12,185,891 $ 1,651,693 STORM UTILITY FUND 9,842,422 3,803,207 5,026,341 4,816,081 88%, 51% CL y SEWER/WWTP UTILITY FUND 23,397,507 11,067,158 19,393,172 4,004,335 83% BOND RESERVE FUND 1,988,830 574,892 1,399,406 589,424 70% _ $ 49,066,343 $ 22,683,658 $ 38,004,810 $ 11,061,533 77% C LL L 4) Cy L 4) M E d Q 4) Cn v 20 Packet Pg. 23 INVESTMENT PORTFOLIO SUMMARY I 2.1.a I Agency/ Investment Issuer Type FHLB Bonds Spokane County WA Bonds First Financial - Waterfront Center CD FHLMC Bonds Farmer Mac Bonds FHLB Bonds US Treasury Note Note FFCB Bonds Farmer Mac Bonds FHLMC Bonds Farmer Mac Bonds First Financial - EGA CD TOTAL SECURITIES Washington State Local Gov't Investment Pool TOTAL PORTFOLIO City of Edmonds Investment Portfolio Detail As of Se pte m be r 30, 2024 Years Purchase to Par Price 950,774 207,260 245,000 974,798 1,995,088 969,524 964,597 1,982,692 1,994,172 993,661 2,057,309 2,803,516 0.13 0.17 0.24 0.45 0.55 0.82 0.87 1.19 1.34 1.81 2.13 3.13 Value 1,000,000 200,000 245,000 1,000,000 2,000,000 1,000,000 1,000,000 2,000,000 2,000,000 1,115,000 2,305,000 2,803,516 Market Value 994,941 199,118 245,000 998,328 1,998,890 997,431 992,758 2,007,953 2,004,207 1,058,552 2,189,873 2,803,516 Maturity Date 11/18/24 12/01 /24 12/27/24 03/13/25 04/17/25 07/28/25 08/15/25 12/08/25 02/02/26 07/22/26 11/17/26 11/15/27 Coupon Rate 0.90% 2.10% 2.47% 3.75% 4.25% 3.60% 3.13% 4.13% 3.95% 0.83% 1.15% 2.96% 16,138,392 1.07 16,668,516 16,490,567 55,857,403 55,857,403 Demand 5.23% Issuer Diversification I First Financial - Spokane CD, 18% County Farmer WA, 1% Mac, 380 o FFCB, 12% FHLB, FHLMC, 12% 13% $ 72,525,919 $ 72,347,971 Cash and Investment Balances (in $ Millions) Note, $1.00, 1%^ Checking, \ Bonds, $3.77, 5% $12.62 , CD's, $3.05� 17% 4% State LGIP, $55.86, \ 73% O CL O cC C ca C LL 21 d cC 3 a d E d r.+ IS 0 fn 21 Packet Pg. 24 1 INVESTMENT PORTFOLIO SUMMARY 2.1.a $ 2,500, 000 $ 2,000, 000 $1,500, 000 $1 236 875 $1,000,000 $500,000 2019 Annual Interest Income $950,684 $1,091,709 2020 2022 6 2023 YTD 2024 F 0 CL c R c ii L 4) ea Cat L E d Q 0 Cn v 22 Packet Pg. 25 City of Edmonds 2024 General Fund (001) Cash Flow Report (with ACTUALS) Revenues Jan Actual Feb Actual Mar Actual Property Tax 21,016 366,893 755,437 Sales Tax 1,061,193 1,158,271 948,328 Amusements & Utility Tax 513,836 865,277 655,472 Excise & Other Taxes - 81,406 - License & Permits 298,154 162,918 68,969 Other Governments & Grants 187,239 - 112,069 Service Fees 159,253 194,102 1,091,628 Interfund Service Fees' 138,726 507,933 313,147 Fines & Penalties 19,021 29,017 - Miscellaneous 133,900 50,526 61,266 Disposal of Capital Assets - - - Difference Apr Actual May Actual Jun Actual Jul Actual 30,722 Aug Actual 54,697 Sep Actual 243,501 Oct Forecast 5,861,219 Nov Forecast Dec Forecast Total Forecast Budget inc dec 0 (191,255) Q 6,153,028 1,063,611 74,286 1,034,766 55,068 15,714,245 15,905,500 949,258 1,069,826 1,003,253 1,083,664 1,114,740 1,091,235 1,180,429 1,221,687 1,106,203 12,988,087 13,459,600 (471,513) 567,877 630,223 544,066 491,392 662,208 577,806 388,708 727,016 588,611 7,212,493 7,743,849 (531,356) 2,448 84,129 - - 83,193 - - 84,940 73 336,189 326,000 10,189 322,066 84,523 61,744 224,952 135,097 242,845 225,430 205,556 64,318 2,096,572 1,993,750 102,822 IZ 138,735 312,945 257,513 155,683 12,050 118,833 41,462 458,016 216,596 2,011,141 1,204,710 806,431(� 239,048 169,274 614,426 202,824 294,331 238,942 268,578 192,692 634,120 4,299,218 4,238,512 60,706 334,873 308,477 315,117 291,459 315,275 332,375 335,046 300,350 558,692 4,051,470 4,048,014 3,456 lO 91,609 153,244 68,090 100 61,362 56,394 65,725 - 157,954 702,516 902,350 (199,834) 87,751 81,833 113,611 78,630 88,410 80,459 154,656 161,953 91,383 1,194,378 1,009,132 175,246 LL - - 10,000 - - - - - - 10,000 - 10,000 - - - - - - - - - 385 274 471075(85,801)L 8,886,692 3,958,085 3,062,106 2,559,427 2,821,363 2,982,389 8,521,253 4,386,976 3,473,018 50,991,583 51,302,492 310,909 Apr Actual May Actual Jun Actual Jul Actual AugActual Sep Actual Oct Forecast Nov Forecast Dec Forecast Total Forecast Budget Balance Salaries 1,868,992 1,860,417 1,848,525 1,975,160 2,402,922 2,040,193 1,993,960 1,926,131 2,103,814 1,966,234 1,963,068 1,958,929 23,908,346 23,095,383 812,963 Overtime 116,684 93,279 54,727 76,584 122,240 95,886 48,099 54,529 71,140 50,140 69,037 64,655 917,002 643,080 273,922 Holiday Buyback - - - - - - - 4,068 - - 380,011 5,374 389,453 294,001 95,452 Benefits 740,340 702,129 684,991 745,469 767,668 718,780 705,947 706,727 678,110 745,702 744,740 747,427 8,688,031 7,868,408 819,623 Uniforms 13,909 8,879 12,072 4,764 3,589 6,165 1,070 7,999 7,179 7,394 3,581 3,197 79,798 126,931 (47,133) Pension 2,932 - 5,864 2,932 2,932 2,932 5,859 3,517 3,517 9,024 5,929 5,929 51,366 141,668 (90,302) Supplies 13,474 28,205 36,924 25,194 112,010 33,603 32,205 31,760 31,515 93,274 51,780 60,694 550,636 677,285 (126,649) Small Equipment 1,388 5,978 935 5,873 7,240 7,973 11,694 16,873 (1,963) 22,564 3,285 17,947 99,788 239,791 (140,003) Professional Services 414,539 504,373 572,676 405,136 441,983 459,554 427,520 1,254,195 1,258,923 1,310,638 1,567,710 1,484,527 10,101,773 11,063,360 (961,587) Communications 11,170 8,838 20,583 25,147 7,697 15,162 18,762 18,264 16,906 12,136 13,823 29,348 197,837 236,105 (38,268) Travel 695 2,208 4,646 1,304 8,236 7,337 411 2,503 3,007 4,101 3,451 1,562 39,461 51,187 (11,726) Excise Taxes 2,725 2,136 3,250 2,554 2,304 2,423 3,211 2,136 4,601 3,029 1,991 1,737 32,098 30,000 2,098 Interfund Rent 315,916 322,079 323,652 319,860 315,908 320,122 309,344 321,845 309,778 321,806 328,193 326679 3,835,181 3,913,541 (78,360) Insurance 910,495 - - - - - - - - - - - 910,495 883,686 26,809 Utilities 56,826 45,879 62,960 62,997 63,245 28,032 76,626 51,697 98,706 47,846 57,730 70,110 722,653 663,800 58,853 Repair &Maint 81,539 22,811 34,904 29,285 10,924 2,320 20,497 22,208 4,153 42,573 19,276 27,207 317,698 388,300 (70,602) Miscellaneous 66,908 74,660 42,575 34,243 26,483 22,362 27,319 41,135 19,410 42,685 1ZB51 17,464 428,095 424,867 3,228 Contingency - 25,000 - - - - - - - - - - 25,000 25,000 - Transfer - - - - - 525,000 - - - - 62,695 49,478 637,173 650,000 (12,827) Building (Capital) 34,040 - - - - 408,179 - (408,179) - - - - 34,040 - 34,040 Machinery & Equipment (Capital) - - - - 20 - - 12,233 - - - - 12,253 - 12,253 Construction (Capital) - - - - - - - - - - - - - - - Lease - - - 44,224 23,750 23,750 23,750 23,750 23,750 23,750 23,750 23,750 234,224 300,000 (65,776) Debt -Principal - - - - - - - - - - - 197,120 197,120 197,120 - Debt - Interest - - 9,562 21,356 - 61,886 1,792 7,242 14,197 - - 61,890 177,924 123,780 54,144 Debt- Other 500 500 57 4,652,0 3,706,872 3,718,847 3,782,682 4,319,151 4 781,657 3,708,667 4,10034 6 4 646 743 4,702,897 5,312,899 5,155,625 52,587,445 52,037 793 549 652 Net Revenue/(Expenditures) 1 (2,120,231)l 94,746 1 287,4691 5,104,610 1 (361,065) (1,719,552) (1,148,640) (1,279,271) (1,664,354)1 3,818,356 1 (925,923) (1,682,007) (1,595,862) (735,301) (860,561) Chan gesin AR 30,743 30,894 (8,337) 16,329 63,269 (19,719) 5,278 (16,524) (45,181) Chan es in AP 256,704) (227,71 31069 175 337 125 023 132 356 5 313 7 087 3 148 Cash Balance (2,511,077) (2,613,147) (2,302,946) 2,993,329 2,570,509 698,883 (439,166) (1,742,048) (3,454,731) z V L E d Q co Packet Pg. 26 2.2 City Council Agenda Item Meeting Date: 10/15/2024 2024 October Budget Amendment Ordinance Staff Lead: Kim Dunscombe Department: Administrative Services Preparer: Marissa Cain Background/History Amend the 2024 Ordinance No. 4363 Staff Recommendation Staff recommends that Council approve Ordinance No. XXXX amending the 2024 Budget. Attachments: 2024 October Decision Package Exhibits 2024 October Budget Amendment Ordinance Packet Pg. 27 2024 October Budget Amendment 2.2.a Budget Amendment for: October 22, 2024 Description: Budget Amendment Type Date of Discussion or Budget Approval? How is this amendment funded? What is the nature of the expenditure? Is the Expenditure Operating or Capital? Expenditure Increase (Decrease) This decision package gives budget authority for the City of Edmonds' Employee Picnic ($8,169), Labor Relations training($890) and Public Risk Management Association Training ($3,670). The training expenditures received reimbursement from WCIA, and the Employee picnic was funded with a private donation. Resources Previously Approved Budget By Council 3rd Quarter Budget Amendment Partially Funded One -Time Fund 001 GENERAL Name: Account Number Description 2024 2025 2026 2027 2028 001.000.22.518.10.31.00 Supplies $ 45 $ $ $ $ 001.000.22.518.10.31.10 Wellness Program Supplies 5,415 001.000.22.518.10.49.00 Miscellaneous 3,599 001.000.22.518.10.43.00 Travel 3,670 Total Expenditure Increase (Decrease) $ 12,729 $ $ $ $ Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 001.000.367.00.000.00 Donation/Contributions $ 8,000 $ $ $ $ 001.000.337.09.000.00 Miscellaneous Interlocal Revenue 3,890 Total Revenue Increase (Decrease) $ 11,890 $ $ S $ Ending Fund Balance Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 001.000.39.508.00.00.00 Ending Fund Balance $ (839) $ $ $ $ Total Ending Fund Balance Increase (Decrease) $ (839) $ $ $ $ Packet Pg. 28 2024 October Budget Amendment 2.2.a Budget Amendment for: October 22, 2024 Item Description: The police department received three grants to cover additional services or equpment for our officers and the community. We received the ARTG Grant that will cover the salary and benefits from July 2024 - February 2025 including the supervision costs. We recieved the WSCJTC Wellness Grant which provided a massage chair and professional services for nutritional counseling and recovery and stretching instruction for our officers. The Police department also recieved the WATPA grant which will cover two years of Flock services for the PD to utilize in the course of performing their jobs. Department: Police Department Fund Name: 001 GENERAL Division:7 I Title: �Preparer: Alexandra Ehlert Budget Amendment Type New Item For Council To Consider Date of Discussion or Budget Approval? How is this amendment funded? 100% Ending Fund Balance What is the nature of the expenditure? On -Going Is the Expenditure Operating or Capital? Operating Expenditure Increase (Decrease) Fin out on -going costs & revenues Account Number Description 2024 2025 2026 2027 2028 001.000.41.521.10.11.00 Salary for Erin Nathan - Social Worker S 33,929 $ 8,954 $ S $ 001.000.41.521.10.23.00 Benefits for Erin Nathan - Social Worker 2,876 1,013 00 1.000.41.521.10.4 1.00 Social Worker Supervision 1,080 270 001.000.41.521.10.35.00 Wellness Grant - Massage Chair 1,859 - 001.000.41.521.10.41.00 Wellness Grant - Professional Services 4,370 001.000.41.521.22.41.00 WATPA - Flock Grant 131,880 Total Expenditure Increase (Decrease) $ 175,994 $ 10,237 $ S S Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 001.00.334.01.110.00 WSCJTC - Officer Wellness Grant S 6,236 $ - $ S $ 001.00.334.00.000.00 AWC - Alternative Response Team Grant 37,885 10,237 001.00.334.00.000.00 WATPA - Flock Grant 131,873 - Total Revenue Increase (Decrease) S 175,994 $ 10,237 $ S $ Ending Fund Balance Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 Total Ending Fund Balance Increase (Decrease) S S S S S Packet Pg. 29 2024 October Budget Amendment 2.2.a Budget Amendment for: October 22, 2024 Item Description: Throughout 2024, the city's financial story has been shaped by several factors that have significantly impacted the General Fund. As the Mayor has discussed on numerous occasions, the ambitious goal of achieving a $3.2 million vacancy rate in the General Fund has proven difficult to realize. Historical vacancy data, along with the complexities of under budgeted collective bargaining agreement (CBA) negotiations, and unbudgeted separation payouts, have contributed to this challenge. The initial vacancy assumption did not fully account for these factors, leaving the General Fund short of its target. To maintain financial transparency, compliance, and to avoid a finding in the upcoming audit related to overspending within the General Fund appropriation authority, I am requesting an amendment to increase the General Fund spending authority by $550,000. This adjustment is necessary to align the budget with forecasted expenditures and to ensure the citv remains in compliance with state budeetary laws. Fund ' 001 GENERAL Name: 11'reparer: Vim Dunscombe Budget Amendment Type New Item For Council To Consider Date of Discussion or Budget Approval? How is this amendment funded? 100% Ending Fund Balance What is the nature of the expenditure? One -Time Is the Expenditure Operating or Capital? 10perating Expenditure Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 001.000.39.518.10.11.10 Offset vacancy rate adjustment $ 550,000 $ $ S $ Total Expenditure Increase (Decrease) $ 550,000 $ $ S $ Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 $ $ $ S S Total Revenue Increase (Decrease) $ $ $ S $ Ending Fund Balance Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 001.000.39.508.00.00.00 Ending Fund Balance $ (550,000) $ $ S S Total Ending Fund Balance Increase (Decrease) $ (550,000) $ $ S S Packet Pg. 30 2024 October Budget Amendment 2.2.a Budget Amendment for: October 22, 2024 Item Description: In 2023 the City applied for a capital grant from the Washington State Arts Commission for the Edmonds Creative District to create a Gateway Art Project at Anway Park adjacent to the ferry holding lanes. A reimbursable grant of $60,000 was awarded 3/1/24. The required match of $60,000 was donated by the Edmonds Arts Festival Foundation with an additional donation up to $15,000 to cover costs of the initial artist selection process. A cooperative agreement with EAFF was signed by the City in May 2024. The RFQ was approved by City Council 6/18/24 and the selection process is underway. Initial funds will be expended by the end of 2024 with the remaining funds expended in 2025 to complete the project. Department: Community, Culture & Economic Development Fund Name: 117 MUNICIPAL ARTS Division: Cultural Services Title: Creative District capital grant and donations for Gateway Art Project Prevarer: Frances Chapin Budget Amendment Type Previously Discussed By Council Date of Discussion or Budget Approval? Jun 18 2024 How is this amendment funded? lReimbursed by Grants or Outside Agencies What is the nature of the expenditure? On -Going Is the Expenditure Operating or Capital? Capital Expenditure Increase (Decrease) Fill out on going costs & revenues Account Number Description 2024 2025 2026 2027 2028 117.100.64.573.20.41.00 Professional Service $ 35,000 $ 100,000 $ $ $ Total Expenditure Increase (Decrease) $ 35,000 S 100, $ $ S Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 117.100.367.00.000.00 Private Donation $75,000 $ - $ $ $ 117.100.334.05.800.01 WA Arts Commission Capital Grant - 60,000 Total Revenue Increase (Decrease) $ 75,000 $ 60,000 $ $ $ Ending Fund Balance Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 117.100.64.508.40.00.00 Ending Fund Balance $ 40,000 $ (40,000) $ $ $ Total Ending Fund Balance Increase (Decrease) $ 40,000 $ (40,000) $ $ $ Packet Pg. 31 2.2.a 2024 October Budget Amendment Budget Amendment for: October 22, 2024 Description: The city will receive unused ARPA funds from two beneficiaries. Shoreline Community College will return $75,000 of unused ARPA funds, and Washington Kids in Transition will return $40,000 in funds that were initially offered as a deposit at the beginning of the Housing Grant Program. This budget amendment adds the expenditure authority to use the returned ARPA funds towards the Edmonds Fire Contract before year's end, when all ARPA funds must be spent. Budget Amendment Type Date of Discussion or Budget Approval? How is this amendment funded? What is the nature of the expenditure? Is the Expenditure Operating or Capital? Expenditure Increase (Decrease) A Funds for Fire Contract Cain New Item For Council To Consider 100% Ending Fund Balance One -Time Operating Fund 001 GENERAL Name: Account Number Description 2024 2025 2026 2027 2028 142.000.39.522.20.41.50 Fire Service Contract $ 115,000 $ $ $ $ Total Expenditure Increase (Decrease) $ 115,000 $ $ S S Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 142.000.333.21.019.00 Coronavirus Relief Fund $ 115,000 $ $ S $ Total Revenue Increase (Decrease) $ 115,000 $ $ S $ Ending Fund Balance Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 $ $ $ S S Total Ending Fund Balance Increase (Decrease) $ $ $ S S Packet Pg. 32 2.2.a 2024 October Budget Amendment Budget Amendment for: October 22, 2024 Description: Budget Amendment Type Date of Discussion or Budget Approval? How is this amendment funded? What is the nature of the expenditure? Is the Expenditure Operating or Capital? Expenditure Increase (Decrease) rd the 2024 bond issue for new water and storm funds along with the funding to refinance the 2013 revenue bonds. entry includes all the proceeds received, debt issue costs and refunding entries. Services Bond Issue and Previously Discussed By Council 5-28-2024 Ordiance#4358 Bond Ordinance 100% Ending Fund Balance One -Time Capital Fund MULTIPLE FUNDS Name: Account Number Description 2024 2025 2026 2027 2028 421.200.74.592.34.84.00 2024 Debt Issue Costs 90,951 $ $ $ $ 422.200.72.592.31.84.00 2024 Debt Issue Costs 23,936 421.000.74.592.34.84.00 2024 Debt Issue Costs 17,106 421.000.74.593.34.71.00 2024 Advance Refunding 2013 Bond Issue 753,175 421.000.74.5 99.34.7 1.00 2024 Payment to Escrow on 2013 Refunding 3,891,699 421.000.74.599.34.84.00 2024 Debt Issue Cost to Escrow on 2013 Refunding 19,295 424.000.71.597.30.55.00 Transfer Restricted Cash-2024 Bond Issue 278,030 422.000.72.592.31.84.00 2024 Debt Issue Costs 2,854 422.000.72.5 93.3 1.7 1. 00 2024 Advance Refunding 2013 Bond Issue 126,948 422.000.72.5 99.3 1.7 1. 00 2024 Payment to Escrow on 2013 Refunding 648,872 422.000.72.599.31.84.00 2024 Debt Issue Cost to Escrow on 2013 Refunding 3,220 424.000.71.597.30.55.00 Transfer Restricted Cash-2024 Bond Issue 117,953 423.000.75.592.35.84.00 2024 Debt Issue Costs 28,078 423.000.75.5 93.3 5.7 1. 00 2024 Advance Refunding 2013 Bond Issue 1,248,909 423.000.75.5 99.3 5.7 1. 00 2024 Payment to Escrow on 2013 Refunding 6,389,228 423.000.75.599.35.84.00 2024 Debt Issue Cost to Escrow on 2013 Refunding 31,672 424.000.71.597.30.55.00 Transfer Restricted Cash-2024 Bond Issue 446,533 Total Expenditure Increase (Decrease) 14,118,459 $ $ $ $ Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 421.200.391.20.000.00 2024 Revenue Bond Proceeds 8,516,725 $ $ $ $ 421.200.392.20.000.00 2024 Revenue Bond Premium 1,074,252 422.200.391.20.000.00 2024 Revenue Bond Proceeds 2,241,300 422.200.392.20.000.00 2024 Revenue Bond Premium 282,662 421.000.393.00.000.00 2024 Refunding Bond 3,408,480 421.000.392.20.000.00 2024 Refunding Bond Premium 519,626 421.000.397.34.424.00 Transfer Restricted Cash-2024 Bond Issue 278,030 422.000.393.00.000.00 2024 Refunding Bond 568,616 422.000.392.20.000.00 2024 Refunding Bond Premium 86,338 422.000.397.38.424.00 Transfer Restricted Cash-2024 Bond Issue 117,953 423.000.393.00.000.00 2024 Refunding Bond 5,594,881 423.000.392.20.000.00 2024 Refunding Bond Premium 854,102 423.000.397.35.424.00 Transfer Restricted Cash-2024 Bond Issue 446,533 Total Revenue Increase (Decrease) 23,989,498 $ $ $ $ Ending Fund Balance Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 421.000.74.508.89.00.00 Ending Fund Balance (475,139) $ $ $ $ 421.200.74.508.19.00.00 Ending Fund Balance 9,500,026 422.000.72.508.89.00.00 Ending Fund Balance (8,987) 422.200.72.508.19.00.00 Ending Fund Balance 2,500,026 423.000.75.508.89.00.00 Ending Fund Balance (802,371) 424.000.71.508.19.00.00 Ending Fund Balance (842,516) Total Ending Fund Balance Increase (Decrease) 9,871,039 $ $ $ S Packet Pg. 33 2024 October Budget Amendment 2.2.a Budget Amendment for: October 22, 2024 Description: Budget Amendment Type Date of Discussion or Budget Approval? How is this amendment funded? What is the nature of the expenditure? Is the Expenditure Operating or Capital? Expenditure Increase (Decrease) Record the 2024 revenue bond issue debt payment for December 2024 and remove the 2013 that was originally budgeted. Services nee impartment Fund MULTIPLE FUNDS the 2024 Revenue Bond Payment and Remove the 2013 Debt Payment Name: Previously Discussed By Council 5-28-2024 Ordiance #4358 Bond Ordinance 100% Ending Fund Balance On -Going Operating Fill out on -going costs & revenues Account Number Description 2024 2025 2026 2027 2028 421.000.74.591.34.72.30 2024 Revenue Bond Principal 170,205.00 $ $ $ S 421.000.74.592.34.83.30 2024 Revenue Bond Interest 258,380.00 422.000.72.591.31.72.30 2024 Revenue Bond Principal 44,916.00 422.000.72.592.31.83.30 2024 Revenue Bond Interest 60,882.00 423.000.75.591.35.72.30 2024 Revenue Bond Principal 124,881.00 423.000.75.592.35.83.30 2024 Revenue Bond Interest 121,223.00 424.000.71.591.31.72.00 2013 Revenue Bond Principal (15,000.00) 424.000.71.591.34.72.00 2013 Revenue Bond Principal (85,000.00) 424.000.71.591.35.72.00 2013 Revenue Bond Principal (150,000.00) 424.000.71.592.31.83.00 2013 Revenue Bond Interest (17,506.00) 424.000.71.592.34.83.00 2013 Revenue Bond Interest (104,765.00) 424.000.71.592.35.83.00 2013 Revenue Bond Interest (172,441.00) 421.000.74.597.34.55.24 Intefund Transfer to Fund 424 (189,765.00) 422.000.72.597.31.55.24 Intefund Transfer to Fund 424 (32,512.00) 423.000.75.597.35.55.24 Intefund Transfer to Fund 424 (322,441.00) Total Expenditure Increase (Decrease) (308,943.00) $ $ $ $ Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 424.000.397.31.422.00 Intefund Transfer to Fund 424 (32,512.00) $ $ $ $ 424.000.397.34.421.00 Intefund Transfer to Fund 424 (189,765.00) 424.000.397.35.423.00 Intefund Transfer to Fund 424 (322,441.00) Total Revenue Increase (Decrease) (544,718.00) $ $ $ $ Ending Fund Balance Increase (Decrease) Account Number Description 2,024.00 2025 2026 2027 2028 421.000.74.508.89.00.00 Ending Fund Balance (238,820.00) $ $ S S 422.000.72.508.89.00.00 Ending Fund Balance (73,286.00) 423.000.75.508.89.00.00 Ending Fund Balance 76,337.00 424.000.75.508.19.00.00 Ending Fund Balance (6.00) Total Ending Fund Balance Increase (Decrease) (235,775.00) $ $ S S Packet Pg. 34 2024 October Budget Amendment 2.2.a Budget Amendment for: October 22, 2024 Item Description: This budget adjustment is a continuation of the original carryforward adjustment from the 2023 budget that was submitted in January 2024. The original carryforward amendment submitted was for $1,600,000 and through capital project reductions and uncertanty of future project completions, the final carryforward was reduced to $690,000 with the intention to bring forward this remaining budget request at a later date. Completion of new police vehicle upfitting was uncertain in the beginning of 2024. Direction to complete these police vehicle projects require approval of the original funding from the 2023 budget. This amendment is to complete the upfitting of the 20 police vehicles that we received in September of 2023. Department: Public Works Fund Name: 511 EQUIPMENT RENTAL Division: Fleet Title: Fleet Manager Preparer: Carl Rues Budget Amendment Type Previously Approved Budget By Council Previous Year Carryforward Amendment Date of Discussion or Budget Approval? How is this amendment funded? 100°/ Ending Fund Balance What is the nature of the expenditure? One -Time Is the Expenditure Operating or Capital? Icapital Expenditure Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 511.100.77.594.48.64.00 Equipment B-Fund $ 445,000 $ $ $ $ Total Expenditure Increase (Decrease) $ 445,000 $ $ $ $ Revenue Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 Total Revenue Increase (Decrease) $ $ $ $ $ Ending Fund Balance Increase (Decrease) Account Number Description 2024 2025 2026 2027 2028 511.100.77.508.89.00.00 Equipment B-Fund $ (445,000) $ $ $ $ Total Ending Fund Balance Increase (Decrease) $ (445,000) $ $ $ $ Packet Pg. 35 2.2.b ORDINANCE NO. AN ORDINANCE OF THE CITY OF EDMONDS, WASHINGTON, AMENDING ORDINANCE NO. 4363 AS A RESULT OF UNANTICIPATED TRANSFERS AND EXPENDITURES OF VARIOUS FUNDS, AND FIXING A TIME WHEN THE SAME SHALL BECOME EFFECTIVE. WHEREAS, previous actions taken by the City Council require Interfund Transfers and increases in appropriations; and WHEREAS, state law requires an ordinance be adopted whenever money is transferred from one fund to another; and WHEREAS, the City Council has reviewed the amended budget appropriations and information which was made available; and approves the appropriation of local, state, and federal funds and the increase or decrease from previously approved programs within the 2024 Budget; and THEREFORE, WHEREAS, the applications of funds have been identified; THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, DO ORDAIN AS FOLLOWS: Section 1. Section 1. of Ordinance No. 4363 adopting the final budget for the fiscal year 2024 is hereby amended to reflect the changes shown in Exhibits A, B, C, and D adopted herein by reference. 1 Packet Pg. 36 2.2.b Section 2. Effective Date. This ordinance, being an exercise of a power specifically delegated to the City legislative body, is not subject to referendum, and shall take effect five (5) days after passage and publication of an approved summary thereof consisting of the title. APPROVED: MAYOR, MIKE ROSEN ATTEST/AUTHENTICATE: CITY CLERK, SCOTT PASSEY APPROVED AS TO FORM: OFFICE OF THE CITY ATTORNEY: M. JEFF TARADAY FILED WITH THE CITY CLERK: PASSED BY THE CITY COUNCIL: PUBLISHED: EFFECTIVE DATE: ORDINANCE NO. Packet Pg. 37 2.2.b SUMMARY OF ORDINANCE NO. of the City of Edmonds, Washington On the th day of July, 2024, the City Council of the City of Edmonds, passed Ordinance No. XXXX. A summary of the content of said ordinance, consisting of the title, provides as follows: AN ORDINANCE OF THE CITY OF EDMONDS, WASHINGTON, AMENDING ORDINANCE NO. 4363 AS A RESULT OF UNANTICIPATED TRANSFERS AND EXPENDITURES OF VARIOUS FUNDS, AND FIXING A TIME WHEN THE SAME SHALL BECOME EFFECTIVE. The full text of this Ordinance will be mailed upon request. DATED this day of , 2024. CITY CLERK, SCOTT PASSEY 3 Packet Pg. 38 EXHIBIT "A": Budget Amendment Summary (October 2024) 2.2.b FUND NO. FUND DESCRIPTION 2024 UNAUDITED BEGINNING FUND BALANCE REVENUE EXPENDITURES 2024 ADJUSTED BUDGET ENDING FUND BALANCE 001 GENERAL FUND 2,492,460 51,490,376 52,776,516 1,206,320 009 LEOFF-MEDICAL I NS. RESERVE 139,774 250,000 367,140 22,634 011 RISK MANAGEMENT RESERVE FUND - - - - 012 CONTINGENCY RESERVE FUND 2,228,672 - 2,228,672 014 HISTORIC PRESERVATION GIFT FUND 8,944 - 11,701 (2,757) 016 BUILDING MAINTENANCE 3,756,168 112,290 1,533,453 2,335,005 017 MARSH RESTORATION & PRESERVATION FUND 853,595 - 15,000 838,595 018 EDMONDS HOMELESSNESS RESPONSE FUND 200,000 - - 200,000 019 EDMONDS OPIOID RESPONSE FUND 74,119 50,000 - 124,119 104 DRUG ENFORCEMENT FUND 40,843 4,520 39,000 6,363 111 STREET FUND 4,701 2,630,600 2,662,492 (27,191) 112 COMBINED STREETCONST/IMPROVE 2,734,808 5,396,813 5,395,315 2,736,306 117 MUNICIPALARTS ACQUIS. FUND 657,265 163,631 317,880 503,016 118 MEMORIAL STREETTREE - - - - 120 HOTEL/MOTEL TAX REVENUE FUND 151,247 124,371 131,400 144,218 121 EMPLOYEE PARKING PERMIT FUND 83,814 38,900 106,880 15,834 122 YOUTH SCHOLARSHIP FUND 17,868 1,740 3,000 16,608 123 TOURISM PROMOTIONAL FUND/ARTS 138,157 44,193 43,400 138,950 125 PARK ACQ/IMPROVEMENT 1,992,459 1,627,900 2,826,746 793,613 126 SPECIAL CAPITAL FUND 3,957,800 1,639,520 2,228,484 3,368,836 127 GIFTS CATALOG FUND 3,140,448 215,830 618,646 2,737,632 130 CEMETERY MAI NTENANCE/IMPROV 196,244 152,990 290,559 58,675 136 PARKS TRUST FUND - - - - 137 CEMETERY MAINTENANCE TRUST FD 1,212,121 55,580 99,500 1,168,201 138 SISTER CITY COMMISSION 18,681 5,680 11,900 12,461 140 BUSINESS IMPROVEMENT DISTRICT FUND 37,682 79,209 103,545 13,346 141 AFFORDABLE & SUPPORTIVE HOUSING FUND 309,127 65,000 - 374,127 142 EDMONDS RESCUE PLAN FUND 36,932 6,984,475 6,984,475 36,932 143 TREE FUND 222,354 220,930 214,800 228,484 211 LID FUND CONTROL - - - - 231 2012 LTGO DEBT SERVICE FUND - 310,420 310,420 - 332 PARKS CONSTRUCTION 139,615 1,169,365 907,660 401,320 421 WATER 9,601,886 26,111,857 18,848,630 16,865,113 422 STORM 6,983,494 12,383,585 10,721,538 8,645,541 423 SEWER/ TREATMENT PLANT 14,903,525 26,915,284 31,019,057 10,799,752 424 BOND RESERVE FUND 843,961 1,451,552 2,286,634 8,879 511 EQUIPMENT RENTAL FUND 5,298,245 2,779,730 3,219,212 4,858,763 512 Technology Rental Fund 421,587 2,173,664 2,011,076 584,175 617 FIREMEN'S PENSION FUND - - - - Totals 1 62,898,596 1 144,650,005 1 146,106,059 1 61,442,542 r C O E C d E Q O 3 m L O V 0 le N CD N d C> C cC C L 0 r C d E C d E Q O co 3 m L d O w V 0 le N CD N C O E t t� R w Q Packet Pg. 39 2.2.b EXHIBIT "B": Budget Amendments by Revenue (October 2024) FUND NO. FUND DESCRIPTION Adopted Budget Ord.#4335 1/1/2024 Adopted Amendment Ord.#4349 2/27/2024 Adopted Amendment Ord.#4363 7/23/2024 Proposed Amendment Ord.# 10/22/2024 2024 Amended Revenue Budget 001 General Fund $ 51,056,792 $ $ 245,700 $ 187,884 $ 51,490,376 009 Leoff-Medical Ins. Reserve 250,000 - - 250,000 011 Risk Management Reserve Fund - - 012 Contingency Reserve Fund 014 Historic Preservation Gift Fund - - 016 Building Maintenance Fund 112,290 112,290 017 Marsh Restoration & Preservation Fund - - 018 Edmonds Homelessness Response Fund - - 019 Edmonds Opioid Response Fund 50,000 50,000 104 Drug Enforcement Fund 4,520 4,520 111 Street Fund 2,630,600 2,630,600 112 Combined StreetConst/Improve 4,946,998 449,815 5,396,813 117 Municipal Arts Acquis. Fund 87,776 855 75,000 163,631 120 Hotel/Motel Tax Revenue Fund 124,371 124,371 121 Employee Parking Permit Fund 38,900 38,900 122 Youth Scholarship Fund 1,740 1,740 123 Tourism Promotional Fund/Arts 44,193 44,193 125 Park Acq/Improvement 1,627,900 1,627,900 126 Special Capital Fund 1,639,520 1,639,520 127 Gifts Catalog Fund 215,830 215,830 130 Cemetery Ma i ntena nce/I mprov 152,990 152,990 137 Cemetery Maintenance Trust I'd 55,580 55,580 138 Sister City Commission 5,680 5,680 140 Business Improvement District Fund 79,209 79,209 141 Affordable and Supportive Housing Fund 65,000 - 65,000 142 Edmonds Rescue Plan Fund 6,550,000 319,475 115,000 6,984,475 143 Tree Fund 220,930 - 220,930 211 Lid Fund Control - - 231 2012 LTGO Debt Service fund 310,420 310,420 332 Parks Construction 316,240 853,125 - 1,169,365 421 Water 12,314,744 - 13,797,113 26,111,857 422 Storm 8,499,216 472,500 115,000 3,296,869 12,383,585 423 Sewer/Treatment Plant 20,019,768 6,895,516 26,915,284 424 Bond Reserve Fund 1,996,270 - (544,718) 1,451,552 511 Equipment Rental Fund 2,706,730 73,000 2,779,730 512 Technology Rental Fund 2,173,664 - 2,173,664 617 Firemen's Pension Fund I - - Totals $ 118.297.871 $ 996,170 $ 1,533,300 $23,822,664 $ 144,650,005 r C O E C d E Q O 3 m L O C� 0 le N CD N d C> C cC C L 0 r C d E C d E Q O co 7 m d O w V 0 le N CD N C O E t t� R w Q Packet Pg. 40 2.2.b EXHIBIT "C": Budget Amendment by Expenditure (October 2024) FUND NO. FUND DESCRIPTION Adopted Budget Ord.#4335 1/1/2024 Adopted Amendment Ord.#4349 2/27/2024 Adopted Amendment Ord.#4363 7/23/2024 Proposed Amendment Ord.# 10/22/2024 2024 Amended Expenditure Budget 001 General Fund $ 51,892,793 $ $ 145,000 $ 738,723 $ 52,776,516 009 Leoff-Medical Ins. Reserve 367,140 - - 367,140 011 Risk Management Reserve Fund - - 012 Contingency Reserve Fund - - 014 Historic Preservation Gift Fund 11,701 - 11,701 016 Building Ma i ntena nce Fund 1,125,274 408,179 1,533,453 017 Marsh Restoration & Preservation Fund - 15,000 15,000 018 Edmonds Homelessness Response Fund - - 019 Edmonds Opioid Response Fund - - 104 Drug Enforcement Fund 39,000 39,000 111 Street Fund 2,662,492 2,662,492 112 Combined Street Const/I mprove 4,699,705 695,610 5,395,315 117 Municipal Arts Acquis. Fund 282,880 - 35,000 317,880 120 Hotel/Motel Tax Revenue Fund 131,400 - 131,400 121 Employee Parking Permit Fund 26,880 80,000 106,880 122 Youth Scholarship Fund 3,000 - 3,000 123 Tourism Promotional Fund/Arts 43,400 - - 43,400 125 ParkAcq/Improvement 2,460,645 316,101 50,000 2,826,746 126 Special Capital Fund 1,379,355 714,754 134,375 2,228,484 127 Gifts Catalog Fund 618,646 - - 618,646 130 Cemetery Ma i ntena nce/I mprov 290,559 - 290,559 137 Cemetery Maintenance Trust I'd 25,000 74,500 99,500 138 Sister City Commission 11,900 - 11,900 140 Business Improvement District Fund 103,545 103,545 141 Affordable and Supportive Housing Fund - - - 142 Edmonds Rescue Plan Fund 6,550,000 319,475 115,000 6,984,475 143 Tree Fund 214,800 - - 214,800 211 Lid Fund Control - - 231 2012LTGO Debt Service Fund 310,420 - 310,420 332 Parks Construction 139,685 (85,150) 853,125 - 907,660 421 Water 13,568,408 269,176 - 5,011,046 18,848,630 422 Storm 8,495,157 1,202,265 145,000 879,116 10,721,538 423 Sewer / Treatment Plant 22,720,243 677,264 - 7,621,550 31,019,057 424 Bond Reserve Fund 1,988,830 - 297,804 2,286,634 511 Equipment Rental Fund 1,976,212 798,000 445,000 3,219,212 512 Technology Rental Fund 2,011,076 - - 2,011,076 617 Firemen's Pension Fund - - - Totals $ 124,150,146 $ 4,662,520 $ 2,150,154 $15,143,239 $ 146,106,059 r C O E C d E Q O 3 m N O t� O le N O N d C> C cC C L O r C d E C d E Q O co 3 m L d O V O le N C N C O E t t� R w Q Packet Pg. 41 EXHIBIT "D": Budget Amendment Summary (October 2024) 2.2.b Fund Number Proposed Amendment Change in Revenue Proposed Amendment Change in Expense Proposed Amendment Change in Ending Fund Balance 001 187,884 738,723 (550,839) 117 75,000 35,000 40,000 142 115,000 115,000 - 421 13,797,113 5,011,046 8,786,067 422 3,296,869 879,116 2,417,753 423 6,895,516 7,621,550 (726,034) 424 (544,718) 297,804 (842,522) 511 445,000 (445,000) Total Change 23,822,664 1 15,143,239 8,679,425 Packet Pg. 42