HomeMy WebLinkAbout2025-01-21 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
Edmonds City Council Agenda
January 21, 2025
Page 1
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COMMITTEE MEMBERS: WILL CHEN (CHAIR), JENNA NAND, COUNCIL PRESIDENT (EX-OFFICIO
MEMBER)
1. CALL TO ORDER
2. COMMITTEE BUSINESS
1. December Preliminary Finance Report (15 min)
2. Interfund Loan Utility Analysis (15 min)
ADJOURNMENT: 7:30 PM
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
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CITY OF EDMONDS
QUARTERLY BUDGETARY FINANCIAL REPORT
DECEMBER 2024
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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.
Sales Tax Property Tax EMS Tax Other Taxes
Actual 11,729,781 11,235,304 4,295,918 8,568,274
Budget 12,300,000 11,327,000 4,578,000 9,229,949
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
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General Fund Tax Revenue (2024 YTD)
STREET FUND HIGHLIGHTS
• Interest charged to the Street Fund for negative cash balance in 2024 equals $12,322 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.
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City of Edmonds
All Funds Financial Summary
As of December 31, 2024
Fund
Beginning Fund
Balance
Revenues /
Sources
Expenditures /
Uses
Revenues less
Expenditures
Ending Fund
Balance Cash Balance
Governmental
001 General Fund 2,492,460 50,047,260 52,083,262 (2,036,001) 456,459 (2,734,281)
009 LEOFF Medical Insurance Reserve 139,774 180,000 305,256 (125,256) 14,518 26,197
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 3,756,168 115,228 1,482,604 (1,367,376) 2,388,791 2,442,863
017 Marsh Restoration 853,595 20,300 15,000 5,300 858,895 858,895
018 Homeless Response 200,000 - - - 200,000 200,000
019 Opioid Response 74,119 382,437 - 382,437 456,556 456,556
Total General Funds 9,753,732 50,745,225 53,890,507 (3,145,282) 6,608,450 3,483,460
Special Revenue Funds
104 Drug Enforcement 40,843 6,445 - 6,445 47,288 47,109
111 Street 4,701 2,391,777 2,285,049 106,728 111,429 12,830
112 Street Construction 2,734,808 3,873,450 2,769,959 1,103,490 3,838,299 2,705,120
117 Municipal Arts 657,265 117,397 106,705 10,692 667,957 662,161
120 Hotel / Motel 151,247 142,047 105,300 36,747 187,994 170,580
121 Employee Parking 83,814 35,003 80,911 (45,908) 37,906 36,828
122 Youth Scholarship 17,868 3,057 450 2,607 20,475 20,246
123 Tourism Promotion 138,157 54,589 38,889 15,700 153,857 151,590
125 REET 2 1,992,459 1,922,769 1,453,260 469,509 2,461,968 2,516,649
126 REET 1 3,957,800 2,077,462 1,449,807 627,656 4,585,455 4,532,712
127 Gifts Catalog 3,140,448 429,592 578,038 (148,445) 2,992,002 2,958,323
130 Cemetery Maintenance 196,245 200,519 265,638 (65,119) 131,126 128,887
137 Cemetery Trust 1,212,121 114,099 73,000 41,099 1,253,220 1,237,640
138 Sister City 18,681 3,838 4,822 (984) 17,697 17,454
140 Business Improvement 37,682 90,426 91,913 (1,487) 36,195 36,195
141 Affordable Housing 309,127 71,788 - 71,788 380,915 372,518
142 Edmonds Rescue 36,932 6,967,506 6,968,315 (809) 36,123 36,123
143 Tree Fund 222,354 114,351 201,588 (87,238) 135,116 131,937
Capital Projects 139,615 877,101 773,716 103,385 243,001 239,080
Debt Service - 311,103 310,753 350 350 -
Enterprise Funds
411 Combined Utility Operation - 147,210 - 147,210 147,210 194,460
421 Water Utility 9,601,886 26,232,515 16,223,016 10,009,499 19,611,386 19,773,732
422 Storm Water Utility 6,983,494 11,542,369 7,538,690 4,003,678 10,987,172 10,541,704
423 Sewer / Wastewater Treatment Plant 14,903,525 24,860,963 24,615,288 245,675 15,149,200 15,940,504
424 Bond Reserve Fund 843,961 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
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GENERAL FUND SUMMARY
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%
General Fund
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Revenue Summary-General Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-General Fund
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
50,000,000
55,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
General Fund
Current Year Budget Prior Year
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
50,000,000
55,000,000
60,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
General Fund
Current Year Budget Prior Year
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MAJOR GENERAL FUND REVENUE SUMMARY
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
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 956,967$ 956,967$ 975,066$ 975,066$ 1.89%
February 2,084,047 1,127,080 1,059,532 2,034,598 -2.37%
March 2,987,849 903,802 870,730 2,905,328 -2.76%
April 3,814,928 827,079 870,807 3,776,135 -1.02%
May 4,821,039 1,006,111 983,892 4,760,027 -1.27%
June 5,796,759 975,721 921,356 5,681,383 -1.99%
July 6,836,449 1,039,690 996,390 6,677,774 -2.32%
August 7,953,072 1,116,623 1,022,482 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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Revenue Summary-Real Personal & EMS Property Tax
2024
City of Edmonds, WA
Monthly Revenue Summary-Sales Tax
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Real Personal & EMS Property Tax
Current Year Budget Prior Year
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
11,000,000
12,000,000
13,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Sales and Use Tax
Current Year Budget Prior Year
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MAJOR GENERAL FUND REVENUE SUMMARY
Water Utility Tax
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 90,844$ 90,844$ 92,691$ 92,691 2.03%
February 154,355 63,511 62,177 154,868 0.33%
March 244,152 89,797 90,963 245,831 0.69%
April 304,356 60,204 62,146 307,977 1.19%
May 393,634 89,278 90,718 398,695 1.29%
June 463,947 70,313 69,703 468,398 0.96%
July 573,149 109,202 107,776 576,174 0.53%
August 666,476 93,327 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%
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 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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Revenue Summary-Water Utility Tax
2024
City of Edmonds, WA
Monthly Revenue Summary-Sewer Utility Tax
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Water Utility Tax
Current Year Budget Prior Year
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Sewer Utility Tax
Current Year Budget Prior Year
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MAJOR GENERAL FUND REVENUE SUMMARY
General Fund - Charges for Services
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 410,810$ 410,810$ 297,980$ 297,980$ -27.47%
February 950,331 539,521 702,035 1,000,015 5.23%
March 1,344,389 394,057 1,404,775 2,404,790 78.88%
April 2,155,227 810,839 573,921 2,978,711 38.21%
May 3,145,803 990,576 477,751 3,456,462 9.88%
June 3,752,017 606,215 929,543 4,386,004 16.90%
July 4,337,554 585,536 494,283 4,880,288 12.51%
August 5,407,415 1,069,861 609,605 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.
City of Edmonds, WA
Monthly Revenue Summary-General Fund Charges for Services
2024
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
General Fund -Charges for Services
Current Year Budget Prior Year
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Title
2024 Amended
Budget
12/31/2023
Expenditures
12/31/2024
Expenditures
Amount
Remaining % Spent
CITY COUNCIL 479,286$ 423,907$ 467,769$ 11,517$ 98%
OFFICE OF MAYOR 490,875 383,612 442,697 48,178 90%
HUMAN RESOURCES 1,235,167 1,003,524 1,147,521 87,646 93%
MUNICIPAL COURT 1,811,176 1,499,361 1,758,692 52,484 97%
ADMINISTRATIVE SERVICES 2,825,453 2,563,246 2,706,053 119,400 96%
CITY ATTORNEY 1,161,780 1,054,359 1,075,377 86,403 93%
NON-DEPARTMENTAL 7,407,495 18,072,490 9,242,568 (1,835,073) 125%
POLICE SERVICES 17,654,534 15,040,997 17,462,754 191,780 99%
SATELLITE OFFICE 172,105 128,220 146,406 25,699 85%
COMMUNITY SERVICES/ECONOMIC DEV.1,162,045 1,309,617 1,106,362 55,683 95%
PLANNING & DEVELOPMENT 4,396,605 4,047,163 3,858,408 538,197 88%
HUMAN SERVICES PROGRAM 320,940 267,635 211,113 109,827 66%
PARKS & RECREATION 6,520,597 5,873,552 5,820,693 699,904 89%
PUBLIC WORKS 4,500,279 4,004,938 4,003,437 496,842 89%
FACILITIES MAINTENANCE 2,638,179 4,003,732 2,633,412 4,767 100%
52,776,516$ 59,676,353$ 52,083,262$ 693,254$ 99%
EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN SUMMARY
CITY OF EDMONDS
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
City Council
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 34,240$ 34,240$ 40,574$ 40,574$ 18.50%
February 71,153 36,913 54,006 94,579 32.92%
March 112,189 41,036 35,007 129,587 15.51%
April 150,403 38,214 35,974 165,561 10.08%
May 193,081 42,678 57,697 223,258 15.63%
June 234,428 41,347 34,601 257,859 9.99%
July 275,019 40,591 36,103 293,962 6.89%
August 316,493 41,474 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%
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 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.
2024
City of Edmonds, WA
Monthly Expenditure Summary-City Council
2024
City of Edmonds, WA
Monthly Expenditure Summary-Office of Mayor
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
City Council
Current Year Budget Prior Year
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Office of Mayor
Current Year Budget Prior Year
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
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%
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 1,441,979 149,989 153,480 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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Human Resources
2024
City of Edmonds, WA
Monthly Expenditure Summary-Municipal Court
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
1,300,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Human Resources
Current Year Budget Prior Year
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Municipal Court
Current Year Budget Prior Year
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Community Services/Economic Development
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 70,938$ 70,938$ 84,711$ 84,711$ 19.42%
February 150,629 79,691 85,764 170,475 13.18%
March 228,686 78,058 85,735 256,210 12.04%
April 308,932 80,246 91,280 347,490 12.48%
May 391,061 82,128 83,820 431,310 10.29%
June 480,392 89,331 95,126 526,436 9.58%
July 570,789 90,397 101,892 628,327 10.08%
August 679,369 108,580 107,902 736,229 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%
Administrative Services
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 288,918$ 288,918$ 274,596$ 274,596$ -4.96%
February 523,687 234,769 208,739 483,335 -7.71%
March 733,695 210,008 217,967 701,302 -4.42%
April 944,992 211,297 212,849 914,151 -3.26%
May 1,157,177 212,186 372,263 1,286,415 11.17%
June 1,442,022 284,845 184,491 1,470,906 2.00%
July 1,684,828 242,805 183,557 1,654,463 -1.80%
August 1,896,259 211,431 199,026 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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Community Services/Economic Development
2024
City of Edmonds, WA
Monthly Expenditure Summary-Administrative Services
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
1,300,000
1,400,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Community Services/Economic Development
Current Year Budget Prior Year
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
2,200,000
2,400,000
2,600,000
2,800,000
3,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Administrative Services
Current Year Budget Prior Year
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
City Attorney
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 96,815$ 96,815$ -$ -$ 0.00%
February 193,630 96,815 127,250 127,250 -34.28%
March 290,445 96,815 93,007 220,257 -24.17%
April 387,260 96,815 108,383 328,640 -15.14%
May 484,075 96,815 98,726 427,366 -11.71%
June 580,890 96,815 80,589 507,955 -12.56%
July 677,705 96,815 86,552 594,507 -12.28%
August 774,520 96,815 119,143 713,650 -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
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 1,397,152 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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-City Attorney
2024
City of Edmonds, WA
Monthly Expenditure Summary-Police
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
1,100,000
1,200,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
City Attorney
Current Year Budget Prior Year
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Police
Current Year Budget Prior Year
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Planning & Development
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 340,178$ 340,178$ 269,177$ 269,177$ -20.87%
February 694,434 354,255 267,692 536,869 -22.69%
March 1,033,937 339,503 393,779 930,649 -9.99%
April 1,394,846 360,909 303,822 1,234,470 -11.50%
May 1,750,281 355,436 318,775 1,553,246 -11.26%
June 2,093,976 343,695 341,020 1,894,266 -9.54%
July 2,468,929 374,953 302,925 2,197,191 -11.01%
August 2,820,106 351,176 273,909 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
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 5,394,700 554,215 470,943 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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Planning & Development
2024
City of Edmonds, WA
Monthly Expenditure Summary-Parks & Recreation
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Planning & Development
Current Year Budget Prior Year
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
5,000,000
5,500,000
6,000,000
6,500,000
7,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Parks & Recreation
Current Year Budget Prior Year
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
Facilities Maintenance
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 156,775$ 156,775$ 280,811$ 280,811$ 79.12%
February 389,674 232,899 265,070 545,881 40.09%
March 593,572 203,898 223,593 769,473 29.63%
April 769,278 175,706 218,971 988,445 28.49%
May 948,275 178,997 203,576 1,192,021 25.70%
June 1,082,249 133,974 575,626 1,767,646 63.33%
July 1,241,211 158,962 213,793 1,981,439 59.64%
August 1,449,110 207,898 (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%
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 3,102,475 304,999 259,900 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%
*The monthly budget forecast columns are based on a five-year average.
2024
City of Edmonds, WA
Monthly Expenditure Summary-Facilities Maintenance
2024
City of Edmonds, WA
Monthly Expenditure Summary-Engineering
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Facilities Maintenance
Current Year Budget Prior Year
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Engineering
Current Year Budget Prior Year
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GENERAL FUND DEPARTMENT EXPENSE SUMMARY
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%
City of Edmonds, WA
Monthly Expenditure Summary-Non-Departmental
2024
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Non-Departmental
Current Year Budget Prior Year
*The monthly budget forecast columns are based on a five-year average.
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FUND SUMMARIES
Fund 016 - Building Maintenance Fund
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 127,788$ 127,788$ 138,032$ 138,032$ 8.02%
February 255,575 127,788 481,478 619,510 142.40%
March 383,363 127,788 9,472 628,982 64.07%
April 511,151 127,788 2,113 631,095 23.47%
May 638,938 127,788 28,074 659,169 3.17%
June 766,726 127,788 868 660,037 -13.91%
July 894,514 127,788 6,854 666,892 -25.45%
August 1,022,302 127,788 419,746 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%
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 016 - Building Maintenance Fund
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 016 -Building Maintenance Fund
Current Year Budget Prior Year
*The monthly budget forecast columns are based on a five-year average.
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FUND SUMMARIES
Real Estate Excise Tax 1 & 2
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 225,388$ 225,388$ 158,734$ 158,734$ -29.57%
February 376,297 150,909 141,173 299,908 -20.30%
March 569,768 193,471 237,275 537,183 -5.72%
April 775,427 205,659 354,193 891,375 14.95%
May 1,036,020 260,593 338,546 1,229,921 18.72%
June 1,293,139 257,119 321,623 1,551,544 19.98%
July 1,573,012 279,874 347,663 1,899,207 20.74%
August 1,849,679 276,667 415,298 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%
Fund 512 - Technology Rental Fund Expenses
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 278,067$ 278,067$ 450,425$ 450,425$ 61.98%
February 459,653 181,586 88,246 538,670 17.19%
March 687,018 227,364 99,476 638,146 -7.11%
April 781,894 94,876 88,852 726,999 -7.02%
May 882,974 101,080 118,249 845,248 -4.27%
June 1,005,318 122,345 90,723 935,972 -6.90%
July 1,131,059 125,740 137,346 1,073,318 -5.11%
August 1,299,834 168,775 123,453 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%
*The monthly budget forecast columns are based on a five-year average.
City of Edmonds, WA
Monthly Revenue Summary-Real Estate Excise Tax 1 & 2
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 512 - Technology Rental Fund
2024
0
300,000
600,000
900,000
1,200,000
1,500,000
1,800,000
2,100,000
2,400,000
2,700,000
3,000,000
3,300,000
3,600,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Real Estate Excise Tax 1 & 2
Current Year Budget Prior Year
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
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JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 512 -Technology Rental Fund Expenses
Current Year Budget Prior Year
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FUND 421 – WATER UTILITY FUND SUMMARY
Fund 421 - Water Utility Fund Revenues
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 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%
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 1,022,884 586,629 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.
2024
City of Edmonds, WA
Monthly Revenue Summary-Fund 421 - Water Utility Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 421 - Water Utility Fund
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
22,000,000
24,000,000
26,000,000
28,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 421 -Water Utility Fund Revenues
Current Year Budget Prior Year
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 421 -Water Utility Fund Expenses
Current Year Budget Prior Year
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FUND 422 – STORM UTILITY FUND SUMMARY
Fund 422 - Storm Utility Fund Revenues
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 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%
Fund 422 - Storm Utility Fund Expenses
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 793,127$ 793,127$ 397,818$ 397,818$ -49.84%
February 2,490,987 1,697,860 457,806 855,625 -65.65%
March 3,259,979 768,992 332,627 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%
*The monthly budget forecast columns are based on a five-year average.
City of Edmonds, WA
Monthly Revenue Summary-Fund 422 - Storm Utility Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 422 - Storm Utility Fund
2024
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
11,000,000
12,000,000
13,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 422 -Storm Utility Fund Revenues
Current Year Budget Prior Year
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
11,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 422 -Storm Utility Fund Expenses
Current Year Budget Prior Year
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FUND 423 – SEWER UTILITY FUND SUMMARY
Fund 423 - Sewer Utility Fund Revenues
Cumulative Monthly Monthly YTD Variance
Budget Forecast Budget Forecast Actuals Actuals %
January 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 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%
*The monthly budget forecast columns are based on a five-year average.
City of Edmonds, WA
Monthly Revenue Summary-Fund 423 - Sewer Utility Fund
2024
City of Edmonds, WA
Monthly Expenditure Summary-Fund 423 - Sewer Utility Fund
2024
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
22,000,000
24,000,000
26,000,000
28,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 423 -Sewer Utility Fund Revenues
Current Year Budget Prior Year
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
22,000,000
24,000,000
26,000,000
28,000,000
30,000,000
32,000,000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Fund 423 -Sewer Utility Fund Expenses
Current Year Budget Prior Year
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UTILITY EXPENSE SUMMARY
Title
2024 Amended
Budget
12/31/2023
Expenditures
12/31/2024
Expenditures
Amount
Remaining % Spent
WATER UTILITY FUND 18,848,630$ 10,555,720$ 16,223,016$ 2,625,614$ 86%
STORM UTILITY FUND 10,721,538 5,981,201 7,538,690 3,182,848 70%
SEWER/WWTP UTILITY FUND 31,019,057 16,810,018 24,615,288 6,403,769 79%
BOND RESERVE FUND 2,286,634 1,989,784 2,286,591 43 100%
62,875,859$ 35,336,723$ 50,663,585$ 12,212,274$ 81%
EXPENDITURES - UTILITY- BY FUND IN SUMMARY
CITY OF EDMONDS
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INVESTMENT PORTFOLIO SUMMARY
Years
Agency/Investment Purchase to Par Market Maturity Coupon
Issuer Type Price Maturity Value Value Date Rate
FHLMC Bonds 974,798 0.20 1,000,000 998,615 03/13/25 3.75%
Farmer Mac Bonds 1,995,088 0.29 2,000,000 1,998,606 04/17/25 4.25%
FHLB Bonds 969,524 0.57 1,000,000 996,169 07/28/25 3.60%
US Treasury Note Note 964,597 0.62 1,000,000 993,115 08/15/25 3.13%
FFCB Bonds 1,982,692 0.94 2,000,000 1,998,207 12/08/25 4.13%
First Financial - Waterfront Center CD 245,000 0.99 245,000 245,000 12/27/25 2.47%
Farmer Mac Bonds 1,994,172 1.09 2,000,000 1,994,444 02/02/26 3.95%
FHLMC Bonds 993,661 1.56 1,115,000 1,055,750 07/22/26 0.83%
Farmer Mac Bonds 2,057,309 1.88 2,305,000 2,170,532 11/17/26 1.15%
First Financial - ECA CD 2,803,516 2.87 2,803,516 2,803,516 11/15/27 2.96%
TOTAL SECURITIES 14,980,358 1.10 15,468,516 15,253,955
Washington State Local Gov't Investment Pool 55,957,055 55,957,055 Demand 4.60%
TOTAL PORTFOLIO 71,425,571$ 71,211,011$
As of December 31, 2024
City of Edmonds Investment Portfolio Detail
First
Financial -
CD, 20%
FFCB, 13%
FHLB, 6%
FHLMC,
14%
Farmer
Mac , 41%
Issuer Diversification
Checking,
$3.59 , 5%
State LGIP,
$55.96 ,
75%
CD's , $3.05
, 4%
Note,
$1.00 , 1%
Bonds ,
$11.42 ,
15%
Cash and Investment Balances
(in $ Millions)
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Packet Pg. 24
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INVESTMENT PORTFOLIO SUMMARY
$1,236,875 $947,931 $950,684 $1,091,709
$1,683,872
$3,044,847
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
2019 2020 2021 2022 2023 YTD 2024
Annual Interest Income
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Packet Pg. 25
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City of Edmonds
2024 General Fund (001) Cash Flow Report (with ACTUALS)
Revenues Jan Actual Feb Actual Mar Actual Apr Actual May Actual Jun Actual Jul Actual Aug Actual Sep Actual Oct Actual Nov Actual Dec Actual Total Budget inc / (dec)
Property Tax 21,016.32 366,893.33 755,437.41 6,153,027.67 1,063,611.38 74,285.87 30,722.47 54,696.86 243,501.03 5,889,332.94 805,406.63 73,297.99 15,531,230 15,905,500 (374,270)
Sales Tax 1,061,193 1,158,271 948,328 949,258 1,069,826 1,003,253 1,083,664 1,114,740 1,091,235 1,095,628 1,116,947 1,087,292 12,779,636 13,459,600 (679,964)
Amusements & Utility Tax 513,836 865,277 655,472 567,877 630,223 544,066 491,392 662,208 577,806 542,787 534,525 594,555 7,180,026 7,743,849 (563,823)
Excise & Other Taxes - 81,406 - 2,448 84,129 - - 83,193 - 35 87,174 - 338,385 326,000 12,385
License & Permits 298,154 162,918 68,969 322,066 84,523 61,744 224,952 135,097 242,602 277,542 326,924 53,980 2,259,471 1,993,750 265,721
Other Governments & Grants 187,239 - 112,069 138,735 312,945 257,513 155,683 12,050 118,833 105,211 5,871 500,255 1,906,404 1,384,594 521,810
Service Fees 159,253 194,102 1,091,628 239,048 169,274 614,426 202,824 294,331 238,942 563,633 114,863 274,613 4,156,937 4,238,512 (81,575)
Interfund Service Fees1 138,726 507,933 313,147 334,873 308,477 315,117 291,459 315,275 332,375 324,469 303,986 312,860 3,798,697 4,048,014 (249,317)
Fines & Penalties 19,021 29,017 - 91,609 153,244 68,090 100 61,362 56,394 100 38,624 67,045 584,607 902,350 (317,743)
Miscellaneous 133,900 50,526 61,266 87,751 81,833 113,611 78,630 88,410 80,459 71,754 68,411 110,043 1,026,593 1,017,132 9,461
Disposal of Capital Assets - - - - - 10,000 - - - 10,000 - - 20,000 - 20,000
Transfers - 385,274 - - - - - - - 80,000 - - 465,274 385,274 80,000
2,532,339 3,801,618 4,006,316 8,886,692 3,958,085 3,062,106 2,559,427 2,821,363 2,982,146 8,960,493 3,402,732 3,073,942 50,047,260 51,404,575 (1,357,315)
- - -
Expenditures Jan Actual Feb Actual Mar Actual Apr Actual May Actual Jun Actual Jul Actual Aug Actual Sep Actual Oct Actual Nov Actual Dec Actual Total 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 1,960,457 1,895,333 1,942,887 23,818,792 23,679,312 139,480
Overtime 116,684 93,279 54,727 76,584 122,240 95,886 48,099 54,529 71,140 58,486 63,608 39,236 894,498 643,080 251,418
Holiday Buyback - - - - - - - 4,068 - 5,897 172,157 10,427 192,549 294,001 (101,452)
Benefits 740,340 702,129 684,991 745,469 767,668 718,780 705,947 706,727 678,110 689,311 663,290 658,723 8,461,487 7,871,284 590,203
Uniforms 13,909 8,879 12,072 4,764 3,589 6,165 1,070 7,999 7,179 2,486 2,794 6,102 77,008 126,931 (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 21,441 436,444 682,745 (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 26,505 204,859 236,105 (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 (500)
4,652,570 3,706,872 3,718,847 3,782,082 4,319,151 4,781,657 3,708,067 4,100,634 4,646,743 4,678,376 4,989,216 4,999,046 52,083,262 52,776,516 (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
Changes in 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)
2.1.a
Packet Pg. 26
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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
2.2
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