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2025-01-21 Council FIN CommitteeAgenda Edmonds City Council FINANCE COMMITTEE CITY COUNCIL CONFERENCE ROOM 121 - 5TH AVENUE N, EDMONDS, WA 98020 JANUARY 21, 2025, 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) 1. CALL TO ORDER 2. COMMITTEE BUSINESS 1. December Preliminary Finance Report (15 min) 2. Interfund Loan Utility Analysis (15 min) ADJOURNMENT: 7:30 PM Edmonds City Council Agenda January 21, 2025 Page 1 2.1 City Council Agenda Item Meeting Date: 01/21/2025 December Preliminary Finance Report Staff Lead: Kim Dunscombe Department: Administrative Services Preparer: Kimberly Dunscombe Background/History December Preliminary Report Staff Recommendation For discussion only Attachments: Preliminary December 2024 Quarterly Financial Report Packet Pg. 2 I 2.1.a I O-V sL y -,w CITY OF EDMONDS QUARTERLY BUDGETARY FINANCIAL REPORT DECEMBER 2024 QV Packet Pg. 3 1 I 2.1.a I MONTHLY HIGHLIGHTS GENERAL FUND HIGHLIGHTS • Real Personal/Property Tax and EMS Levy are up $622,415 from this point last year. Despite this good news, we ended the year $(373,778) under the 2024 budget forecast. • Sales tax is up $114,955 from this point last year but was $(570,219) 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 $(96,149) falling short of their perspective cumulative budget. • Development services revenues overall are up a total of $586,333 from this point last year; and ended the year $542,973 over the budget forecast of $1,840,100. 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 $71,730 to date. General Fund Tax Revenue (2024 YTD) 14,000, 000 12,000,000 — — — a, 10,000,000 8,000,000 X 6,000, 000 a 4,000, 000 2,000,000 Sales Tax Property Tax EMS Tax Other Taxes El 11,729,781 11,235,304 4,295,918 8,568,274 t 12,300,000 11 327,000 4,578,000 9,229,949 STREET FUND HIGHLIGHTS *� • Interest charged to the Street Fund for negative cash balance in 2024 equals $12,322 to date. REET FUND HIGHLIGHTS • REET revenues are 28.19% or $764,641 higher than last year. REET revenues to date have exceeded the budget of $3.0 million by $476,565. 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 I 2.1.a I City of Edmonds All Funds Financial Summary As of December 31, 2024 Fund Governmental 001 General Fund 009 LEOFF Medical Insurance Reserve 012 Contingency Reserve 014 Historic Sub -Fund 016 Building Maintenance 017 Marsh Restoration 018 Homeless Response 019 Opioid Response Total General Funds Special Revenue Funds Beginning Fund Revenues / Expenditures / Revenues less Ending Fund Balance Sources Uses Expenditures Balance 2,492,460 50,047,260 52,083,262 (2,036,001) 456,459 139,774 180,000 305,256 (125, 256) 14,518 2,228,672 - - - 2,228,672 8,944 - 4,385 (4,385) 4,559 3,756,168 115,228 1,482, 604 (1,367,376) 2,388,791 853,595 20,300 15,000 5,300 858,895 200,000 - - - 200,000 74,119 382,437 382,437 456,556 9,753,732 50, 745, 225 53, 890, 507 (3,145, 282) 6,608,450 104 Drug Enforcement 40,843 111 Street 4,701 112 Street Construction 2,734,808 117 Municipal Arts 657,265 120 Hotel / Motel 151,247 121 Employee Parking 83,814 122 Youth Scholarship 17,868 123 Tourism Promotion 138,157 125 REET 2 1,992,459 126 REET 1 3,957,800 127 Gifts Catalog 3,140,448 130 Cemetery Maintenance 196,245 137 Cemetery Trust 1,212,121 138 Sister City 18,681 140 Business Improvement 37,682 141 Affordable Housing 309,127 142 Edmonds Rescue 36,932 143 Tree Fund 222,354 Capital Projects 139,615 Debt Service - Enterprise Funds 411 Combined Utility Operation - 421 Water UtiIity #V%9,601,886 422 Storm Water Utility 6,983,494 423 Sewer/ Wastewater Treatment Plar 14,903,525 424 Bond Reserve Fund 843,961 6,445 - 6,445 47,288 2,391,777 2,285,049 106,728 111,429 3,873,450 2,769,959 1,103, 490 3,838,299 117,397 106,705 10,692 667,957 142,047 105,300 36,747 187,994 35,003 80,911 (45,908) 37,906 3,057 450 2,607 20,475 54,589 38,889 15,700 153,857 1,922,769 1,453,260 469,509 2,461,968 2,077,462 1,449,807 627,656 4,585,455 429,592 578,038 (148, 445) 2,992,002 200,519 265,638 (65,119) 131,126 114,099 73,000 41,099 1,253,220 3,838 4,822 (984) 17,697 90,426 91,913 (1,487) 36,195 71,788 - 71,788 380,915 6,967,506 6,968,315 (809) 36,123 114,351 201,588 (87, 238) 135,116 877,101 773,716 103,385 243,001 311,103 310,753 350 350 Cash Balance (2,734,281) 26,197 2,228,672 4,559 2,442,863 Q 858,895 200,000 456,556 = ea 3,483,460 ii 47,109 12, 830 2,705,120 662,161 a 170,580 36828 20,246 N 151,590 2,516,649 a 4,532,712 O 2,958,323 C 128,887 1,237,640 m 17,454 = 36,195 372,518 L- 36,123 L 131,937 239,080 3 147,210 - 147,210 147,210 194,460 26, 232, 515 16, 223, 016 10, 009, 499 19, 611, 386 19, 773, 732 11, 542, 369 7,538,690 4,003,678 10, 987,172 10, 541, 704 24, 860, 963 24, 615, 288 245,675 15,149, 200 15, 940, 504 1,463,727 2,286,591 (822,863) 21,097 21,097 Internal Service Funds 511 Equipment Rental 5,298,245 2,867,556 2,672,600 194,956 5,493,201 5,465,218 512 Technology Rental 421,587 2,178,804 1,658,640 520,164 941,751 946,891 All Funds 62,898,595 139,842,689 126,443,445 13,399,245 76,297,840 72,381,049 IC 2 Packet Pg. 5 GENERAL FUND SUMMARY I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -General Fund 2024 General Fund Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ 2,720,982 $ 2,720,982 $ 2,532,339 $ 2,532,339 -6.93% February 5,432,397 2,711,414 3,801,618 6,333,957 16.60% March 8,264,546 2,832,149 4,006,316 10,340,274 25.12% April 12,918,631 4,654,085 8,886,692 19,226,965 48.83% May 21,961,252 9,042,621 3,958,085 23,185,051 5.57% June 24,660,735 2,699,483 3,062,106 26,247,157 6.43% July 27,656,422 2,995,686 2,559,427 28,806,583 4.16% August 31,016,991 3,360,570 2,821,363 31,627,947 1.97% September 33,815,236 2,798,245 2,982,146 34,610,093 2.35% October 39,402,452 5,587,215 8,960,493 43,570,586 10.58% November 48,291,716 8,889,264 3,402,732 46,973,318 -2.73% December 51,490,376 3,198,660 3,073,942 50,047,260 -2.80% City of Edmonds, WA Monthly Expenditure Summary -General Fund 2024 General Fund Cumulative Monthly Monthly D Variance Budget Forecast Budget Forecast Actuals Act % January $ 4,891,850 $ 4,891,850 $ 4,652,570 $ 4,652,570 -4.89% February 9,081,521 4,189,671 3,706,872 8,359,442 -7.95% March 13,170,177 4,088,656 3,718,847 12,078,289 -8.29% April 16,888,319 3,718,142 3,782,082 15,860,371 -6.09% May 21,033,007 4,144,687 4,319,151 20,179,522 -4.06% June 25,694,166 4,661,159 4,781,657 24,961,180 -2.85% July 29,764,227 4,070,061 3,708,067 28,669,246 -3.68% August 33,979,921 4,215,695 4,100,634 32,769,880 -3.56% September 38,208,002 4,228,081 4,646,743 37,416,624 -2.07% October 42,394,079 4,186,077 4,678,376 42,095,000 -0.71% November 47,632,437 5,238,358 4,989,216 47,084,215 -1.15% December 52,776,516 5,144,079 4,999,046 52,083,262 -1.31% General Fund 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. 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 5,889,333 14,652,518 -1.10% November 15,849,934 1,034,734 805,407 15,457,924 -2.47% December 15,905,000 55,066 73,298 15,531,222 -2.35% 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 ofEdmonds, WA Monthly Revenue Summary -Sales Tax 2024 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 2,987,849 903,8024 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 1,022,482 7,700,256 -3.18% September 8,995,564 1,042,491 999,661 8,699,917 -3.29% October 10,116,626 1,121,062 1,005,525 9,705,442 -4.06% November 11,238,239 1,121,613 1,025,144 10,730,586 -4.52% December 12,300,000 1,061,761 999,195 11,729,781 -4.64% Sales and Use Tax 11,000,000 9,000,000 8,000,000 7,000,000 61000,000 —0000 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. 4 Packet Pg. 7 1 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 84,829 882,489 0.10% November 983,292 101,662 96,131 978,621 -0.48% December 1,047,289 63,997 65,268 1,043,889 -0.32% City ofEdmonds, WA Monthly Revenue Summary -Sewer Utility Tax 2024 Sewer Utility Tax Cumulative Budget Forecast Monthly Budget Forecast Monthly Actuals YTD Actuals Variance % January $ 101,297 $ 101,297 $ 101,472 'POW1,472 0.17% February 185,730 84,433 84,516 185,988 0.14% March 286,530 100,799 101,2501, 287,238 0.25% April 371,027 84,497 85,581 372,818 0.48% 1%01,036 May 472,427 101,400 473,855 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 86,297 941,243 0.55% November 1,039,506 103,379 101,714 1,042,957 0.33% December 1,123,814 84,308 85,407 1,128,364 0.40% Sewer Utility Tax 100,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 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 6,710,843 631,252 888,102 6,949,312 3.55% November 7,388,870 678,027 418,849 7,368,161 -0.28% December 8,286,526 897,656 587,473 7,955,634 -3.99% *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 C ITY O F 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 SATELLITE OFFICE COMMUNITY SERVICES/ECONOMIC DEV PLANNING& DEVELOPMENT HUMAN SERVICES PROGRAM PARKS& RECREATION PUBLIC WORKS FACILITIES MAINTENANCE 2024 Amended 12/31/2023 12/31/2024 Amount Budget Expenditures Expenditures Remaining %Spent $ 479,286 $ 423,907 $ 467,769 $ 11,517 98% 490,875 383,612 442,697 48,178 90% 1,235,167 1,003,524 1,147,521 87,646 93% 1,811,176 1,499,361 1,758,692 52,484 97% 2,825,453 2,563,246 2,706,053 119,400 96% 1,161,780 1,054,359 1,075,377A 86,403 93% 7,407,495 18,072,490 9,242,568 (1,835,073) 125% 17,654,534 15,040,997 17,462,754 191,780 99% 172,105 128,220 146,406 25,699 85% 1,162,045 1,309,617 1,106,362 55,683 95% 4,396,605 4,047,163 3,858,408 538,197 88% 320,940 267,635 y 211,113 109,827 66% 6,520,597 5,873,552 5,820,693 699,904 89% 4,500,279 14,004,938 4,003,437 496,842 89% 2,638,179 4,003,732 2,633,412 4,767 100% $ 52,776,516 $ 59,676,353 $ 52,083,262 $ 693,254 99% QAV O CL d O t� C R C LL is C i IL L O E d v O 0 7 Packet Pg. 10 I 2.1.a I GENERAL FUND DEPARTMENT EXPENSE SUMMARY 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 $ 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 35,453 329,415 4.08% September 357,868 41,375 35,048 364,463 1.84% October 394,551 36,684 37,231 401,694 1.81% November 435,285 40,734 34,337 436,031 0.17% December 479,286 44,001 31,738 467,769 -2.40% 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 $ P33,901 -16.42% February 82,159 41,598 35,511 69,412 -15.52% March 124,596 42,43 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 40,521 361,681 -11.13% November 449,726 42,738 32,284 393,966 -12.40% December 490,875 41,149 48,732 442,697 -9.81% *The monthly budget forecast columns are based on a five-year average. g Packet Pg. 11 I 2.1.a I GENERAL FUND DEPARTMENT EXPENSE SUMMARY City of Edmonds, WA Monthly Expenditure Summary -Human Resources 2024 Human Resources Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ 112,073 $ 112,073 $ 129,960 $ 129,960 15.96% February 208,229 96,156 103,533 233,493 12.13% March 296,071 87,842 100,807 334,300 12.91% April 389,035 92,964 98,181 432,481 11.17% May 482,480 93,444 94,231 526,711 9.17% June 616,114 133,634 93,012 619,724 0.59% July 698,635 82,521 86,308 706,032 1.06% August 789,582 90,947 83,429 789,461 -0.02% September 891,650 102,068 96,030 885,491 -0.69% October 986,497 94,848 88,329 973,820 -1.29% November 1,095,647 109,150 84,558 1,058,378 -3.40% December 1,235,167 139,520 89,143 1,147,521 -7.10% Human Resources I,Juu, V 11200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 000, 500,000 400,000 30Q,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 Budget Forecast Budget Forecast Monthly Actuals YTD Actuals Variance % 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 1,441,979 149,989 153,480 1,462,734 1.44% November 1,629,476 187,497 147,003 1,609,737 -1.21% December 1,811,176 181,700 148,955 1,758,692 -2.90% 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 88,441 909,809 3.63% November 1,007,121 129,145 94,385 1,004,194 -0.29% December 1,162,045 154,924 102,168 1,106,362 -4.79% Community Services/Economic Development 11400,000 1,300,000 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 City of Edmonds, WA Monthly Expenditure Summary -Administrative Services 2024 Administrative Services Cumulative Budget Forecast Monthly Budget Forecast Monthly Actuals YTD Actuals Variance % January $ 288,918 $ 288,918 $ 274,596 $ W4,596 -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 2,344,386 228,007 192,520 2,237,295 -4.57% November 2,598,917 254,531 273,966 2,511,260 -3.37% December 2,825,453 226,536 194,793 2,706,053 -4.23% 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 85,281 851,011 -12.10% November 1,064,965 96,815 112,399 963,409 -9.54% December 1,161,780 96,815 111,968 1,075,377 -7.44% Police City Attorney 100,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MA R JUN JUL AUG SEP OCT NOV DEC lizq`� tYear -Budget -Prior Year City of Edmonds, WA Monthly Expenditure Summary -Police 2024 Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ 1,338,992 $ 1,338,992 $ 1,320,779 $ 1,320,779 -1.36% February 2,670,959 1,331,967 1,322,826 2,643,606 -1.02% March 4,068,111 1,397,1524 1,252,027* 3,895,633 -4.24% April 5,433,143 1,365,032 1,459,657 5,355,290 -1.43% May 6,851,105 1,417,962 1,864,000 7,219,290 5.37% June 8,322,907 1,471,802 1,522,517 8,741,807 5.03% July 9,787,096 1,464,189 1,447,113 10,188,920 4.11% August 11,150,554 1,363,458 1,415,097 11,604,017 4.07% September 12,603,821 1,453,267 1,370,114 12,974,131 2.94% October 14,083,138 1,479,318 1,429,231 14,403,362 2.27% November 15,835,132 1,751,994 1,705,910 16,109,272 1.73% December 17,654,534 1,819,402 1,353,482 17,462,754 -1.09% 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 1 GENERAL FUND DEPARTMENT EXPENSE SUMMARY I 2.1.a I City of Edmonds, WA Monthly Expenditure Summary -Planning & Development 2024 Planning & Development Cumulative Monthly Monthly TrD 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 3,535,290 358,679 284,662 3,261,183 -7.75% November 3,929,353 394,063 310,104 3,571,287 -9.11% December 4,396,605 467,252 287,121 3,858,408 -12.24% Parks & Recreation Planning & Development 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 F 500,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget Prior Year City ofEdmonds, WA Monthly Expenditure Summary -Parks & Recreation 2024 Cumulative Monthly Monthly TrD Variance Budget Forecast Budget Forecast Actuals Actuals January $ 498,850 $ 498,850 $ 3,277 -9.14% February 986,757 487,907 70, 924,147 -6.35% March 1,483,576 496,818 91,22 1,415,374 -4.60% April 1,955,557 471,981 483,624 1,898,998 -2.89% May 2,461,256 505,698 97,889 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 5,394,700 554,215 470,943 4,869,348 -9.74% November 5,962,605 567,905 438,605 5,307,953 -10.98% December 6,520,597 557,992 512,740 5,820,693 -10.73% 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 1 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 1,994,272 292,572 213,888 2,192,117 9.92% November 2,251,849 257,577 208,549 2,400,666 6.61% December 2,638,179 386,330 232,746 2,633,412 -0.18% Facilities Maintenance 500,000 0 JAN FEB MA R JUN JUL AUG SEP OCT NOV DEC lizq`� tYear -Budget -Prior Year City of Edmonds, WA Monthly Expenditure Summary -Engineering 2024 Engineering Cumulative Budget Forecast Monthly Budget Forecast Monthly Actuals YTD Actuals Variance % January $ 301,531 $ 301,531 $ 283,081 $ 283,081 -6.12% February 604,565 303,034 286,618 569,699 -5.77% March 913,824 309,2594 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 3,102,475 304,999 259,900 2,686,961 -13.39% November 3,439,952 337,477 249,444 2,936,405 -14.64% December 3,777,853 337,901 253,028 3,189,432 -15.58% 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 $ 1,000,299 $ 1,000,299 $ 1,244,387 $ 1,244,387 24.40% February 1,609,068 608,770 221,547 1,465,934 -8.90% March 2,173,371 564,303 285,014 1,750,948 -19.44% April 2,587,370 413,999 211,983 1,962,932 -24.13% May 3,157,955 570,586 178,984 2,141,916 -32.17% June 3,972,188 814,232 824,054 2,965,970 -25.33% July 4,457,237 485,049 197,423 3,163,393 -29.03% August 5,036,460 579,223 975,531 4,138,924 -17.82% September 5,534,640 498,180 1,119,531 5,258,455 -4.99% October 5,988,772 454,133 1,257,017 6,515,472 8.79% November 6,799,588 810,816 1,220,880 7,736,352 13.78% December 7,407,495 607,907 1,506,215 9,242,568 24.77% 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 1,277,877 127,788 153,648 1,258,309 -1.53% November 1,405,665 127,788 106,435 1,364,744 -2.91% December 1,533,453 127,788 117,860 1,482,604 -3.32% 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 MA 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 FUND SUMMARIES I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Real Estate Excise Tax 1 & 2 2024 Real Estate Excise Tax 1 & 2 Cumulative Budget Forecast Monthly Budget Forecast Monthly Actuals YTD Actuals Variance % 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 2,420,735 269,633 371,988 2,967,572 22.59% November 2,687,175 266,440 282,769 3,250,341 20.96% December 3,000,000 312,825 226,224 3,476,565 15.89% City of"Edmonds, WA Monthly Expenditure Summary -Fund 512 - Technology Rental Fund 2n24 Fund 512 - Technology Rental Pand Expenses Cumulative Monthly Monthly YTD eariance Budget Forecast Budget Forecast Actuals Actuals % January $ 278,067 $ 278,067 0, $ 450,425 61.98% February 459,653 181,58 88,24 538,670 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 1,643,179 177,391 139,151 1,431,998 -12.85% November 1,772,621 129,442 100,136 1,532,134 -13.57% December 2,011,076 238,455 126,506 1,658,640 -17.52% 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 �Cucrent 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 $ 2,078,906 $ 2,078,906 $ 1,090,370 $ 1,090,370 -47.55% February 3,631,005 1,552,099 711,773 1,802,143 -50.37% March 5,729,121 2,098,116 1,075,486 2,877,629 -49.77% April 7,117,598 1,388,477 785,359 3,662,988 -48.54% May 9,152,287 2,034,689 1,061,688 4,724,677 -48.38% June 10,846,322 1,694,035 847,725 5,572,402 -48.62% July 13,380,216 2,533,894 1,254,684 6,827,086 -48.98% August 15,488,232 2,108,016 14,908,155 21,735,241 40.33% September 18,310,182 2,821,950 1,517,104 23,252,345 26.99% October 20,384,620 2,074,438 1,024,317 24,276,661 19.09% November 24,385,127 4,000,507 1,124,998 25,401,659 4.17% December 26,111,857 1,726,730 830,856 26,232,515 0.46% 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 $ 873,163 $ 873,163 $ 503,314 $ 503,314 -42.36% February 1,771,426 898,263 589,193 1,092,506 -38.33% March 2,794,310 1,022,8841 586,6294 1,679,136 -39.91% April 3,933,546 1,139,236 705,351 2,384,486 -39.38% May 5,157,049 1,223,503 592,313 2,976,799 -42.28% June 7,134,541 1,977,492 900,416 3,877,215 -45.66% July 8,698,410 1,563,869 955,142 4,832,357 -44.45% August 10,594,938 1,896,528 6,147,795 10,980,151 3.64% September 12,067,680 1,472,742 1,205,739 12,185,891 0.98% October 13,314,758 1,247,078 1,010,289 13,196,180 -0.89% November 15,799,847 2,485,089 1,049,597 14,245,777 -9.84% December 18,848,630 3,048,783 1,977,239 16,223,016 -13.93% *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 $ 916,077 $ 916,077 $ 542,348 $ 542,348 -40.80% February 2,877,139 1,961,062 1,169,775 1,712,123 -40.49% March 3,765,339 888,201 544,143 2,256,265 -40.08% April 4,492,480 727,140 499,506 2,755,771 -38.66% May 5,309,485 817,005 551,418 3,307,189 -37.71% June 6,014,896 705,411 492,629 3,799,818 -36.83% July 6,813,000 798,104 568,123 4,367,941 -35.89% August 8,583,176 1,770,176 4,478,955 8,846,897 3.07% September 9,395,926 812,750 562,711 9,409,608 0.15% October 10,150,679 754,753 1,021,396 10,431,003 2.76% November 11,592,231 1,441,552 556,290 10,987,294 -5.22% December 12,383,585 791,354 555,075 11,542,369 -6.79% City ofEdmonds, WA Monthly Expenditure Summary -Fund 422 - Storm Utility Fund 2024 Fund 422 - Storm Utility Fund Expenses Cumulative Budget Forecast Monthly Budget Forecast Monthly Actuals YTD Actuals Variance % January $ 793,127 $ 793,127 $ 397,818 $ 097,818 -49.84% February 2,490,987 1,697,860 457,806 855,625 -65.65% March 3,259,979 768,9924, 332,627- 1,188,252 -63.55% April 3,889,527 629,548 372,195 1,560,446 -59.88% May 4,596,879 707,352 354,257 1,914,703 -58.35% June 5,207,614 610,735 443,803 2,358,506 -54.71% July 5,898,602 690,987 427,407 2,785,914 -52.77% August 7,431,196 1,532,594 1,293,997 4,079,910 -45.10% September 8,134,864 703,668 946,430 5,026,341 -38.21% October 8,788,318 653,455 1,024,449 6,050,790 -31.15% November 10,036,395 1,248,076 444,866 6,495,656 -35.28% December 10,721,538 685,143 1,043,034 7,538,690 -29.69% Fund 422 - Storm Utility Fund Expenses 11,000,000 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 11000,000 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 $ 2,269,302 $ 2,269,302 $ 1,476,339 $ 1,476,339-34.94% February 4,244,552 1,975,250 1,418,266 2,894,605-31.80% March 5,990,832 1,746,281 1,449,133 4,343,737-27.49% April 7,744,951 1,754,118 2,353,378 6,697,115-13.53% May 10,142,312 2,397,362 1,462,475 8,159,590-19.55% June 11,473,521 1,331,208 1,340,953 9,500,543-17.20% July 13,508,926 2,035,405 1,507,137 11,007,681-18.52% August 15,804,155 2,295,229 8,245,929 19,253,610 21.83% September 18,067,950 2,263,795 1,541,778 20,795,387 15.10% October 19,671,069 1,603,120 1,325,440 22,120,828 12.45% November 24,225,171 4,554,102 1,466,950 23,587,778 -2.63% December 26,915,284 2,690,113 1,273,185 24,860,963 -7.63% Fund 423 - Sewer Utility Fund Revenues 8,000,000 6,000,000 4,000,000 2,000,000 0 i�! JAN FEB MWY JUN JUL AUG SEP OCT NOV DEC Year -Budget Prior Yeaz City of Edmonds, WA Monthly Expenditure Summary -Fund 423 - Sewer Utility Fund 2024 Li Fund 423 - Sewer Utility Fund Expenses Cumulative Monthly Monthly YTD Variance Budget Forecast Budget Forecast Actuals Actuals % January $ 1,372,684 $ 1,372,684 $ 1,373,009 $ 1,373,009 0.02% February 2,664,572 1,291,888 1,032,356 2,405,366 -9.73% March 4,266,877 1,602,305 1,115,359 3,520,725-17.49% April 6,530,321 2,263,444 1,702,160 5,222,885-20.02% May 8,699,671 2,169,350 910,860 6,133,745-29.49% June 11,139,065 2,439,394 1,362,165 7,495,911-32.71% July 13,552,630 2,413,564 1,246,323 8,742,234-35.49% August 15,690,202 2,137,573 8,989,413 17,731,647 13.01% September 18,808,592 3,118,389 1,661,525 19,393,172 3.11% October 21,023,524 2,214,932 1,414,318 20,807,490 -1.03% November 23,802,293 2,778,769 1,491,491 22,298,981 -6.32% December 31,019,057 7,216,764 2,316,307 24,615,288-20.64% 32,000,000 Fund 423 -Sewer Utility Fund Expenses 30,000,000 28,000,000 26,000,000 24,000,000 22,000,000 20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 ogo 6,000,000 4000,000 2:000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year -Budget -PriorYear *The monthly budget forecast columns are based on a five-year average. 19 Packet Pg. 22 UTILITY EXPENSE SUMMARY ■ 2.1.a I C ITY O F EDMO NDS EXPENDITURES - UTILITY- BY FUND IN SUMMARY 2024 Amended 12/31/2023 12/31/2024 Amount Title Budget Expenditures Expenditures Remaining WATER UTILITY FUND $ 18,848,630 $ 10,555,720 $ 16,223,016 $ 2,625,614 STORM UTILITY FUND 10,721,538 5,981,201 7,538,690 3,182,848 SEWER/WWTP UTILITY FUND 31,019,057 16,810,018 24,615,288 6,403,769 BOND RESERVE FUND 2,286,634 1,989,784 2,286,591 43 $ 62,875,859 $ 35,336,723 $ 50,663,585 $ 12,212,274 Aftk % Spent O CL 86% 70% V C 79% 100% LL 81% c E a L d V v 20 Packet Pg. 23 INVESTMENT PORTFOLIO SUMMARY I 2.1.a I Agency/ Investment Issuer Type FHLMC Bonds Farmer Mac Bonds FHLB Bonds US Treasury Note Note FFCB Bonds First Financial - Waterfront Center CD Farmer Mac Bonds FHLMC Bonds Farmer Mac Bonds First Financial - ECA CD TOTAL SECURITIES Washington State Local Gov't Investment Pool TOTAL PORTFOLIO City of Edmonds Investment Portfolio Detail As of Decem be 31, 2024 Years Purchase to Par Issuer Diversification First Financial - Farmer CD, 20% Mac, 41% FFCB, 13% FHLMC, 14% FHLB, 6% Price 974,798 1,995,088 969,524 964,597 1,982,692 245,000 1,994,172 993,661 2,057,309 2,803,516 0.20 0.29 0.57 0.62 0.94 0.99 1.09 1.56 1.88 2.87 Value 1,000,000 2,000,000 1,000,000 1,000,000 2,000,000 245,000 2,000,000 1,115,000 2,305,000 2,803,516 Market Value 998,615 1,998,606 996,169 993,115 1,998,207 245,000 1,994,444 1,055,750 2,170,532 2,803,516 Maturity Date 03/13/25 04/17/25 07/28/25 08/15/25 12/08/25 12/27/25 02/02/26 07/22/26 11/17/26 11/15/27 Coupon Rate 3.75% 4.25% 3.60% 3.13% 4.13% 2.47% 3.95% 0.83% 1.15% 2.96% 14, 980, 358 1.10 15,468, 516 15, 253, 955 55,957,055 55,957,055 Demand 4.60% $ 71,425,571 $ 71,211,011 Cash and Investment Balances Note, (in $ Millions) $1.00, 1%� Checking, Bonds, $11.42, $3.59, 5% CD's, $3.05 15% ,4% / State LGIP, CSS qF O CL O d t1 C t4 C u- M C E 0 L a L d E N 0 d a 21 Packet Pg. 24 1 2.1.a INVESTMENT PORTFOLIO SUMMARY Annual Interest Income $3,500,000 $3,000,000 $3,044,847 0 0 a $2,500,000 $ 2,000, 000 $1 683 872 c $1,500,000 1 236 875 $947,931 $950,684 $1,091,709 $1,000, 000 LL $500,000 c 4 $ E 2019 202 2022 2023 YTD 2024 @ a L d �C C d 0.+ L 0 Q Nd LPL C U- 21 L ry� V N O N L E U d 0 22 Packet Pg. 25 City of Edmonds 2024 General Fund (001) Cash Flow Report (with ACTUALS) Revenues Jan Actual Feb Actual Mar Actual Apr Actual May Actual Property Tax 21,016.32 366,893.33 755,437.41 6,153,027.67 1,063,611.38 Sales Tax 1,061,193 1,158,271 948,328 949,258 1,069,826 Amusements & Utility Tax 513,836 865,277 655,472 567,877 630,223 Excise & Other Taxes - 81,406 - 2,448 84,129 License & Permits 298,154 162,918 68,969 322,066 84,523 Other Governments & Grants 187,239 - 112,069 138,735 312,945 Service Fees 159,253 194,102 1,091,628 239,048 169,274 Interfund Service Fees' 138,726 507,933 313,147 334,873 308,477 Fines & Penalties 19,021 29,017 - 91,609 153,244 Miscellaneous 133,900 50,526 61,266 87,751 81,833 Disposal of Capital Assets - - - - - Transfers 385 274 2,532,339 3,801,618 4,006,316 8,886,692 1 3,958,085 Jun Actual Jul Actual 30,722.47 Aug Actual 54,696.86 Sep Actual 243,501.03 Oct Actual 5,889,332.94 74,285.87 1,003, 253 1,083,664 1,114,740 1,091,235 1,095,628 544,066 491,392 662,208 577,806 542,787 - - 83,193 - 35 61,744 224,952 135,097 242,602 277,542 257,513 155,683 12,050 118,833 105,211 614,426 202,824 294,331 238,942 IIIIIIIIIN 563,633 315,117 291,459 315,275 332,375 324,469 68,090 100 61,362 56,394 100 113,611 78,630 88,410 80,459 71,754 10,000 - - - 10,000 000 3,062,106 1 2,559,4271 2,821,3631 2,982,146 %960,493 Lm e.huol lul ea, ul euo e�1,uI Cnn A-.1 n,i e�1,ul 4) ,Actual Dec Actual Total Budget inc dec 805,406.63 73,297.99 15,531,230 15,905,500 (374,270) R 1,116,947 1,087,292 12,779,636 13,459,600 (679,964) 534,525 594,555 7,180,026 7,743,849 (563,823) LL 87,174 326,924 - 53,980 338,385 2,259,471 326,000 1,993,750 12,385 265,72, 5,871 500,255 1,906,404 1,384,594 521,810 M 114,863 274,613 4,156,937 4,238,512 (81,575) i 303,986 312,860 3,798,697 4,048,014 (249317) 38,624 67,045 584,607 902,350 (317:743) •� 68,411 110,043 1,026,593 1,017,132 9,461 - - 20,000 - 20,001 L 465 274 385 274 80 Do(, f1 3,402,732 3,073,942 -10,047,260 51,404:575 1,357,315 L d Nov Actual Dec Actual Total Budget Balance 1,895,333 1,942,887 23,818,792 23,679,312 139,480 63,608 39,236 894,498 643,080 251,418 � U 172,157 10,427 192,549 294,001 (101,452) � 663,290 2 794 658,723 1 2 8,461,487 77 008 7,871,284 12 1 590,203 0 v 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 1,960,457 Overtime 116,684 93,279 54,727 76,584 122,240 95,886 48,099 54,529 71,140 58,486 Holiday Buyback - - - - - - - 4,068 - 5,897 Benefits 740,340 702,129 684,991 745,469 767,668 718,780 705,947 706,727 678,110 689,311 Uniforms 13,909 8,879 12,072 4,764 3,589 6,165 1,070 7,999 7,179 2,486 6,102 6,93 (49,923) Pension 2,932 - 5,864 2,932 2,932 2,932 5,859 3,517 3,517 3,517 3,517 3,517 41,035 141,668 (100,633) Supplies 13,474 28,205 36,924 25,194 112,010 33,603 32,205 31,760 31,515 43,886 26,228 21,441 436444 682,745 (246,301) Small Equipment 1,388 5,978 935 5,873 7,240 7,973 11,694 16,873 (1,963) 5,826 - 3,298 65,116 241,650 (176,534) Professional Services 414,539 504,373 572,676 405,136 441,983 459,554 427,520 1,254,195 1,258,923 1,434,104 1,492,096 1,460,494 10,125,593 11,200,690 (1,075,097) Communications 11,170 8,838 20,583 25,147 7,697 15,162 18,762 18,264 16,906 24,215 11,610 26,505 2KS59 236,105 (31,246) Travel 695 2,208 4,646 1,304 8,236 7,337 411 2,503 3,007 2,608 2,331 3,382 38,668 54,857 (16,189) Excise Taxes 2,725 2,136 3,250 2,554 2,304 2,423 3,211 2,136 4,601 7,190 2,646 2,008 37,185 30,000 7,185 Interfund Rent 315,916 322,079 323,652 319,860 315,908 320,122 309,344 321,845 309,778 325,312 444,948 355,516 3,984,279 3,913,541 70,738 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 47,972 68,750 59,110 722,800 663,800 59,000 Repair &Maint 81,539 22,811 34,904 29,285 10,924 2,320 20,497 22,208 4,153 19,196 96,389 7,891 352,117 388,300 (36,183) Miscellaneous 66,908 74,660 42,575 34,243 26,483 22,362 27,319 41,135 19,410 24,164 11,869 32,136 423,264 428,466 (5,202) Contingency - 25,000 - - - - - - - - - - 25,000 25,000 - Transfer - - - - - 525,000 - - - - 5,000 50,000 580,000 650,000 (70,000) 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 47,500 257,974 300,000 (42,026) Debt - Principal - - - - - - - - - - - 197,116 197,116 197,120 (4) Debt - Interest - - 9,562 21,356 - 61,886 1,792 7,242 14,197 - 2,898 71,756 190,689 123,780 66,909 Debt- Other 500 4,652,570 3,706,872 3,718,847 3,782,682 4,319,151 4 781,657 3,708,667 4,100 634 4 646 743 4,678,376 4,989,216 4,999,646 52 083,262 52,776,N06 693 254 Net Revenue/(Expenditures) (2,120,231) 94,746 287,469 5,104,610 (361,065) (1,719,552) (1,148,640) (1,279,271) (1,664,597) 4,282,117 (1,586,483) (1,925,104) (2,036,001) (1,371,941) (664,060) Changes in AR 30,743 30,894 (8,337) 16,329 63,269 (19,719) 5,278 (16,524) (45,181) (35,868) 45,463 (212,614) Changes in AP (256,704) (227,711) 31,069 175,337 (125,023) (132,356) 5,313 (7,087) (3,148) (17,477) (13,359) 183,820 Chan esin Cash 200 Cash Balance (2,511,077) (2,613,147) (2,302,946) 2,993,329 2,570,510 698,883 (439,166) (1,742,048) (3,454,974) 773,997 (780,383) (2,734,281) Packet Pg. 26 2.2 City Council Agenda Item Meeting Date: 01/21/2025 Interfund Loan Utility Analysis Staff Lead: Kim Dunscombe Department: Administrative Services Preparer: Kimberly Dunscombe Background/History As part of the interfund loan ordinance discussion, Councilmembers requested review of the analysis completed to understand the utility funds have capacity to support the interfund loan to the general fund. Staff Recommendation For discussion only Packet Pg. 27