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2026-07-16 FIN Committee Packet Edmonds City Council Agenda July 21, 2026 Posted: 7/17/2026 1:04 PM Page 1 Agenda Edmonds City Council Finance Committee CITY COUNCIL CONFERENCE ROOM 121 - 5TH AVENUE N, EDMONDS, WA 98020 ZOOM: HTTPS://ZOOM.US/J/95798484261 PHONE: +1 253 215 8782 MEETING ID: 957 9848 4261 JULY 21, 2026, 1:00 PM STAFF AND COUNCILMEMBERS ATTEND COMMITTEE MEETINGS VIRTUALLY, AND MEMBERS OF THE PUBLIC ARE ENCOURAGED TO ATTEND THE SAME WAY. 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. 1. CALL TO ORDER 2. COMMITTEE BUSINESS 1. May 2026 Monthly Financial Report First Reading – Finance (10 minutes) 2. Review of Updated Strategic Outlook First Reading – Finance (15 minutes) 3. Utility Tax Extension First Reading – Finance (15 minutes) 4. Fiscal Sustainability Task Force - Discussion on the Anatomy and Choosing of Task Force Participants First Reading – City Council Office (30 minutes) ADJOURNMENT For disability accommodations, materials in alternate formats, accessibility information, or language interpretation/ translation needs, please contact the City Clerk at 425-775-2525 at your earliest opportunity. Providing at least 72-hour notice will help ensure availability. City Council Agenda Item 2.1 July 21, 2026 - Finance Committee TITLE:May 2026 Monthly Financial Report (First Reading) DEPARTMENT:Finance PRESENTER:Kisha Post NEEDED FROM COUNCIL:Informational RECOMMENDATION:Review and move to full council to be received for filing. BUDGET: Total Dollar Amount:N/A ☐ Approved in Budget Fund(s):N/A ☐ Budget Reallocation Required ☒ No Budget Impact PROBLEM/ISSUE STATEMENT: N/A CONTEXT, ANALYSIS, & ALTERNATIVES: N/A RECOMMENDATION: Review and move to full council to be received for filing. BUDGET IMPACTS: N/A ITEM HISTORY: N/A ADDITIONAL INFORMATION: ATTACHMENTS: May 2026 Monthly Financial Report Item 2.1 Packet pg. 2/53 CITY OF EDMONDS MAY 2026 FINANCIAL REPORT FY 2026 May May 31, 2026 Item 2.1 Packet pg. 3/53 1 Table of Contents Monthly Highlights ...................................... 3 2025-2026 Biennial Budget Summary ......... 4 All Funds Financial Summary ....................... 5 General Fund Summaries ............................ 6 Development Services Revenue Summary .. 8 Major Revenue Summaries ......................... 9 All Revenue Summary ............................... 12 All Expenditure Summary .......................... 14 Salaries and Benefits Summaries .............. 16 Debt Summary ........................................... 20 Interfund Loan Summary ........................... 21 Investment Portfolio Summary ................. 22 General Fund (001) Cash Flows Report ..... 24 Appendix A ................................................ 26 Item 2.1 Packet pg. 4/53 2 Item 2.1 Packet pg. 5/53 3 MONTHLY HIGHLIGHTS GENERAL FUND HIGHLIGHTS • Sales Tax is up $313,791 from this point last year and is $391,619 over the cumulative budget forecast of $4,815,643 for sales tax revenues. We are currently trending 6.41% over 2025 for sales collections through May. • Development Services related revenues are $303,329 more than they were to this point in 2025. Through May, we are 42% of the year complete, but have received 61% of the budgeted Development Services revenues, or $400,561 over the $842,208 that would be expected through this point. • Charges for Services revenues in the General Fund are down $(580,209) from 2025; this is due to no longer receiving EMS Transport Fees in 2026. Through May of 2025, we had received $982,823 in revenues from this revenue source. • General Fund Interfund Loan – The City began repayment of this loan in January of 2026; the outstanding balance on the principal as of the end of May is $4,750,000. Total interest to date that will be charged for this loan is $363,404; the City has paid $110,860 of this interest as of the end of May. • Salaries and Benefits City-Wide were $(416,538) less than 2025; with the General Fund being less by $(344,719). Through May, we expended $12,499,711 for the General Fund which is $(1,154,566) less than we would have expected through this point. This is due to leaving additional approved and funded positions vacant in 2026. Sales Tax Property Tax Other Taxes Actual 5,207,262 6,242,717 2,880,923 Budget 11,700,000 11,713,393 13,222,116 - 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 Ax i s T i t l e General Fund Tax Revenue (2026 YTD) Source 2026 Amended Budget 5/31/2025 Revenues 5/31/2026 Revenues Amount Remaining % Received TAXES $ 36,635,509 $ 17,433,174 $ 17,413,555 $ 19,221,954 48% LICENSES AND PERMITS 1,965,050 934,141 1,031,754 933,296 53% INTERGOVERNMENTAL REVENUES 1,248,653 762,709 444,722 803,931 36% CHARGES FOR GOODS AND SERVICES 7,825,347 3,893,542 3,313,333 4,512,014 42% FINES AND PENALTIES 2,888,000 227,760 1,176,698 1,711,302 41% MISCELLANEOUS REVENUES 838,381 347,211 425,005 413,376 51% OTHER INCREASES IN FUND RESOURCES - 6,000,000 - - 0% OTHER FINANCING SOURCES 50,000 38,989 - 50,000 0% 51,450,940$ 29,637,525$ 23,805,067$ 27,645,873$ 46% CITY OF EDMONDS REVENUES - GENERAL FUND - BY SOURCE IN SUMMARY Item 2.1 Packet pg. 6/53 4 001 General Fund 1,336,357$ 110,617,025$ 81,104,671$ 106,565,322$ 75,437,231$ 1,101,021$ (2,046,612)$ 009 LEOFF Medical Insurance Reserve Subfund 19,441 550,000 525,000 629,000 546,936 (35,056) 1,444 011 Risk Management Reserve Fund - - - - - - - 012 Contingency Reserve Fund 2,228,672 - - - - 2,228,672 2,228,672 014 Historic Preservation Gift Fund 4,559 - - 11,400 - (1,141) 4,559 016 Building Maintenance Fund 2,380,534 194,410 108,824 2,714,068 402,174 448,913 2,204,843 017 Marsh Restoration & Preservation Fund 861,616 50,000 - 183,960 7,258 806,117 854,357 018 Edmonds Homelessness Response Fund 200,000 - - 196,425 109,515 82,340 90,665 019 Edmonds Opioid Response Fund 456,556 100,000 98,865 450,000 - 541,619 541,619 Total General Fund 7,487,735 111,511,435 81,837,360 110,750,175 76,503,115 5,172,484 3,879,546 104 Drug Enforcement Fund 47,981 9,400 3,489 40,000 14,765 34,035 49,425 111 Street Fund 177,530 5,545,000 3,261,953 5,374,146 3,100,545 992,838 621,524 112 Street Construction Fund 3,211,126 12,153,779 3,229,370 11,206,049 2,730,550 4,139,154 3,766,445 117 Municipal Arts Acquisition Fund 671,730 548,241 191,789 768,927 282,837 424,236 655,828 120 Hotel/Motel Tax Fund 165,422 258,410 184,134 290,000 288,891 164,380 131,470 121 Employee Parking Permit Fund 12,691 110,290 40,863 65,173 24,314 22,008 461 122 Youth Scholarship Fund 20,769 4,750 2,172 6,000 300 21,521 22,181 123 Tourism Promotional Arts Fund 151,599 57,970 69,608 84,800 41,326 135,906 174,466 125 REET 2 2,432,519 3,787,950 2,863,340 3,238,613 1,206,068 4,374,102 3,676,805 126 REET 1 4,631,092 4,043,320 3,014,974 4,054,434 2,002,961 6,023,387 5,174,891 127 Gifts Catalog Fund 3,027,911 677,940 2,322,622 1,298,953 581,471 4,445,870 4,773,527 130 Cemetery Maintenance/Imp. Fund 130,453 675,719 669,077 671,945 424,975 248,448 388,822 137 Cemetery Maintenance Fund 1,269,638 183,761 106,614 311,124 272,174 1,146,992 1,075,068 138 Sister City Commission Fund 17,896 17,540 6,486 14,800 - 22,833 24,003 140 Business Improvement District Fund 34,037 158,418 124,274 173,320 114,793 19,368 26,034 141 Affordable Housing Fund 380,831 130,000 91,515 - - 527,814 462,814 142 Edmonds Rescue Plan Fund 833 - 9,167 - - 10,000 10,000 143 Tree Fund 135,348 141,761 323,196 150,000 109,854 367,460 384,201 Total Special Revenue Funds 16,519,406 28,504,249 16,514,643 27,748,284 11,195,825 23,120,350 21,417,963 DE B T SE R V I C E FU N D S 231 2012 LTGO Debt Service Fund - 607,060 331,260 607,760 306,203 (350) - CA P I T A L PR O J E C T FU N D S 332 Parks Capital Construction Fund 299,964 684,482 200,366 237,035 67,814 537,270 328,410 411 Combined Utility Operations - - 61,795 - - - - 421 Water Utility Fund 39,451,533 25,144,575 20,375,564 41,240,704 21,200,643 38,368,119 43,757,274 422 Storm Utility Fund 23,214,849 20,874,042 13,650,609 23,800,916 12,749,922 26,549,925 26,150,921 423 Sewer/WWTP Utility Fund 80,547,614 39,829,016 28,580,738 40,183,800 24,334,164 84,818,738 84,371,349 424 Utility Debt Service Fund 843,961 2,323,310 1,149,370 2,297,790 1,149,369 843,961 843,961 Total Enterprise Funds 144,057,957 88,170,943 63,818,076 107,523,210 59,434,097 150,580,742 155,123,504 511 Equipment Rental Fund 11,867,486 4,889,190 3,970,926 4,121,587 2,773,891 12,836,286 12,305,347 512 Technology Rental Fund 1,252,104 5,077,196 3,413,192 5,010,600 3,165,772 1,681,309 1,790,223 Total Internal Service Funds 13,119,590 9,966,386 7,384,119 9,132,187 5,939,664 14,517,594 14,095,569 181,484,652$ 239,444,555$ 170,085,823$ 255,998,651$ 153,446,717$ 193,928,091$ 194,844,993$ all other pages reflect full budget. IN T E R N A L S E R V I C E F U N D S 2025 Unaudited Ending Fund Balance 2025-2026 Actual Revenues Period 1-17 2025-2026 Actual Expenses Period 1-17 2026 Estimated Ending Fund Balance is to provide a more accurate estimate for ending fund balance for these three funds as of the end of 2026. This is only reflected in this manner for this chart; 2025-2026 BIENNIAL BUDGET SUMMARY - ALL FUNDS GE N E R A L F U N D SP E C I A L R E V E N U E F U N D S EN T E R P R I S E FU N D S *The above 2026 budget and ending fund balances for Funds 001, 421 and 422 have been adjusted to reflect year-end reporting for the interfund loan. This TOTAL 2025 Beginning Fund Balance 2025-2026 Adopted Revenue Budget 2025-2026 Adopted Expense BudgetFund Item 2.1 Packet pg. 7/53 5 City of Edmonds All Funds Financial Summary As of May 31, 2026 Fund Beginning Fund Balance* Revenues / Sources Expenditures / Uses Revenues less Expenditures Ending Fund Balance Governmental 001 General Fund (2,046,612) 23,805,067 20,765,873 3,039,194 992,582 009 LEOFF Medical Insurance Reserve 1,444 205,000 208,939 (3,939) (2,495) 012 Contingency Reserve 2,228,672 - - - 2,228,672 014 Historic Sub-Fund 4,559 - - - 4,559 016 Building Maintenance 2,204,843 30,072 147,731 (117,659) 2,087,184 017 Marsh Restoration 854,357 - - - 854,357 018 Homeless Response 90,665 - 179 (179) 90,485 019 Opioid Response 541,619 13,802 - 13,802 555,421 Total General Fund and Subfunds 3,879,546 24,053,941 21,122,723 2,931,218 6,810,764 Special Revenue Funds 104 Drug Enforcement 49,425 677 13,615 (12,937) 36,488 111 Street 621,524 831,447 1,115,102 (283,655) 337,869 112 Street Construction 3,766,445 407,921 572,808 (164,887) 3,601,558 117 Municipal Arts 655,828 17,106 96,341 (79,235) 576,593 120 Hotel / Motel 131,470 42,827 115,964 (73,137) 58,333 121 Employee Parking 461 28,287 - 28,287 28,749 122 Youth Scholarship 22,181 386 - 386 22,567 123 Tourism Promotion 174,466 16,605 11,771 4,834 179,300 125 REET 2 3,676,805 722,165 305,317 416,847 4,093,652 126 REET 1 5,174,891 749,223 347,756 401,467 5,576,358 127 Gifts Catalog 4,773,527 175,645 159,514 16,131 4,789,658 130 Cemetery Maintenance 388,822 133,171 142,693 (9,522) 379,300 137 Cemetery Trust 1,075,068 18,785 - 18,785 1,093,853 138 Sister City 24,003 415 - 415 24,418 140 Business Improvement 26,034 47,885 30,400 17,485 43,518 141 Affordable Housing 462,814 21,433 - 21,433 484,246 142 Edmonds Rescue 10,000 - - - 10,000 143 Tree Fund 384,201 11,070 42,212 (31,142) 353,059 Capital Projects 328,410 48,868 - 48,868 377,277 Debt Service - 25,058 - 25,058 25,058 Enterprise Funds 411 Combined Utility Operation - 61,795 - 61,795 61,795 421 Water Utility 43,757,274 6,708,803 3,801,240 2,907,563 46,664,837 422 Storm Water Utility 26,150,921 4,863,356 3,130,935 1,732,421 27,883,342 423 Sewer / Wastewater Treatment Plant 84,371,349 8,190,328 7,244,105 946,223 85,317,572 424 Bond Reserve Fund 843,961 - - - 843,961 Internal Service Funds 511 Equipment Rental 12,305,347 1,053,263 788,819 264,444 12,569,791 512 Technology Rental 1,790,223 1,004,438 1,233,239 (228,801) 1,561,422 All Funds 194,844,993 49,234,898 40,274,554 8,960,343 203,805,336 *All Beginning Fund Balance amounts reflect the ending balances from the unaudited 2025 Financial Statements. $200,000 of the Fund Balance in Fund 126 has been reserved for Marsh Restoration Funding, as well as $1,200,000 for the purchase of Open Space. $250,000 of the Fund Balance in Fund 422 has been reserved for Marsh Restoration Funding. Item 2.1 Packet pg. 8/53 6 GENERAL FUND DEPARTMENT EXPENSE SUMMARY Title 2026 Amended Budget 5/31/2025 Expenditures 5/31/2026 Expenditures Amount Remaining % Spent CITY COUNCIL 467,980$ 200,947$ 189,803$ 278,177$ 41% OFFICE OF MAYOR 498,288 214,790 192,762 305,526 39% HUMAN RESOURCES 1,107,619 382,519 431,483 676,136 39% CITY ADMINISTRATOR 633,656 - 201,949 431,707 32% CITY ATTORNEY 1,326,346 349,345 539,984 786,362 41% CITY CLERK 493,061 - 182,434 310,627 37% ADMINISTRATIVE SERVICES 1,818,360 945,786 836,615 981,745 46% NON-DEPARTMENTAL 6,768,912 7,303,581 3,455,783 3,313,129 51% POLICE SERVICES 18,323,189 7,360,650 7,397,452 10,925,737 40% MUNICIPAL COURT 2,552,713 721,943 1,010,777 1,541,936 40% SATELLITE OFFICE - 10,760 - - 0% COMMUNITY SERVICES/ECONOMIC DEV.240 411,580 79,621 (79,381) 33175% PLANNING & DEVELOPMENT 4,326,010 1,427,284 1,582,156 2,743,854 37% HUMAN SERVICES PROGRAM - 61,780 - - 0% PARKS & RECREATION 5,342,227 1,993,440 1,967,418 3,374,809 37% PUBLIC WORKS ADMINISTRATION 883,360 287,689 365,673 517,687 41% FACILITIES MAINTENANCE 2,606,747 1,057,070 953,120 1,653,627 37% ENGINEERING 4,154,599 1,281,879 1,378,844 2,775,755 33% 51,303,307$ 24,011,042$ 20,765,873$ 30,537,434$ 40% EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN SUMMARY CITY OF EDMONDS Item 2.1 Packet pg. 9/53 7 GENERAL FUND SUMMARY General Fund - Fund 001 Only Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 5,092,205$ 5,092,205$ 2,714,712$ 2,714,712$ -46.69% February 8,880,277 3,788,073 3,599,318 6,314,029 -28.90% March 12,749,331 3,869,053 5,086,550 11,400,579 -10.58% April 21,246,923 8,497,592 8,246,184 19,646,763 -7.53% May 25,225,825 3,978,902 4,158,304 23,805,067 -5.63% June 28,148,925 2,923,100 2,758,466 26,563,533 -5.63% July 30,804,734 2,655,809 2,506,230 29,069,763 -5.63% August 33,606,336 2,801,602 2,643,812 31,713,575 -5.63% September 36,605,232 2,998,896 2,829,994 34,543,568 -5.63% October 45,224,778 8,619,546 8,134,080 42,677,648 -5.63% November 48,602,351 3,377,573 3,187,342 45,864,991 -5.63% December 51,450,940 2,848,589 2,688,152 48,553,143 -5.63% 51,450,940$ General Fund - Fund 001 Only Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 4,870,197$ 4,870,197$ 5,139,579$ 5,139,579$ 5.53% February 8,768,158 3,897,961 4,100,965 9,240,544 5.39% March 13,101,352 4,333,193 3,750,362 12,990,906 -0.84% April 17,066,310 3,964,959 3,887,023 16,877,929 -1.10% May 21,156,600 4,090,289 3,887,944 20,765,873 -1.85% June 25,542,983 4,386,384 4,305,374 25,071,247 -1.85% July 29,343,736 3,800,753 3,730,560 28,801,807 -1.85% August 33,299,221 3,955,485 3,882,434 32,684,241 -1.85% September 37,572,495 4,273,274 4,194,354 36,878,595 -1.85% October 41,951,466 4,378,971 4,298,098 41,176,693 -1.85% November 46,402,091 4,450,625 4,368,430 45,545,123 -1.85% December 51,303,307 4,901,216 4,810,699 50,355,822 -1.85% 51,303,307$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Revenue Summary-General Fund 2026 City of Edmonds, WA Monthly Expenditure Summary-General Fund *The monthly budget trend column is based on a two year trend. 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 -Fund 001 only 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 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC General Fund -Fund 001 Only Current Year Budget Prior Year Item 2.1 Packet pg. 10/53 8 DEVELOPMENT SERVICES REVENUE SUMMARY Source 2026 Amended Budget 5/31/2025 Revenues 5/31/2026 Revenues Amount Remaining % Received DEV SERV PERMIT SURCHARGE 90,000$ 50,157$ 55,757$ 34,243$ 62% RIGHT OF WAY FRANCHISE FEE 30,000 32,648 31,556 (1,556) 105% BUILDING PERMITS 40,000 51,338 78,714 (38,714) 197% FIRE PERMIT 5,000 - - 5,000 0% ENGINEERING PERMIT 108,300 12,525 7,817 100,483 7% ENG PERMIT - RIGHT OF WAY - 45,872 37,709 (37,709) 0% ENG PERMIT - ENCROACHMENT - - 2,574 (2,574) 0% ENG PERMIT - STREET USE - - 1,573 (1,573) 0% STREET AND CURB PERMIT - 293 - - 0% STREET AND CURB PERMIT W/LEASEHOLD 10,000 - 154 9,846 2% ENGINEERING FEES AND CHARGES - 1,528 - - 0% FIRE CONSTRUCTION INSPECTION FEES 10,000 13,411 16,638 (6,638) 166% ZONING/SUBDIVISION FEE - 905 858 (858) 0% BUILDING PLAN REVIEW AND INSPECTION 1,160,000 473,224 743,733 416,267 64% BUILDING PEER PLAN REVIEW - 6,680 500 (500) 0% FIRE PLAN REVIEW 25,000 17,065 25,486 (486) 102% PLANNING REVIEW AND INSPECTION 110,000 29,497 43,498 66,502 40% PLANNING PEER PLAN REVIEW - - 1,422 (1,422) 0% S.E.P.A. REVIEW 6,000 3,668 - 6,000 0% ENG PLAN REVIEWS 210,000 67,768 27,299 182,701 13% ENGINEERING PEER PLAN REVIEW 200,000 70,200 89,928 110,072 45% ENG INSPECTIONS - 54,776 64,683 (64,683) 0% CRITICAL AREA STUDY 17,000 7,886 12,870 4,130 76% 2,021,300$ 939,440$ 1,242,769$ 778,531$ 61% CITY OF EDMONDS DEVELOPMENT SERVICES REVENUES SUMMARY Item 2.1 Packet pg. 11/53 9 MAJOR REVENUE SUMMARY Property Tax The timing of recording property tax revenues changed in 2023 to be recorded in the month that they were for versus the month that the payment was received. This is the reason for the difference between the years 2022, and 2023-2026. The large difference between 2026 and prior years is due to no longer receiving the EMS property tax levy with the move to the RFA. $7,848,821 $8,046,388 $8,359,978 $8,539,037 $6,266,427 - 1,000,000.00 2,000,000.00 3,000,000.00 4,000,000.00 5,000,000.00 6,000,000.00 7,000,000.00 8,000,000.00 9,000,000.00 2022 2023 2024 2025 2026 Property Tax Revenues (January through May) Sales Tax In the next chart, sales tax is up 6.41% from this point in time in 2025. This is up from last year when it was up 2.8% at this point. $3,384,424 $3,191,797 $3,922,140 $4,483,349 $4,607,308 $4,760,027 $4,893,471 $5,207,262 - 500,000.00 1,000,000.00 1,500,000.00 2,000,000.00 2,500,000.00 3,000,000.00 3,500,000.00 4,000,000.00 4,500,000.00 5,000,000.00 5,500,000.00 2019 2020 2021 2022 2023 2024 2025 YTD 2026 Sales Tax Revenues (January through May) Item 2.1 Packet pg. 12/53 10 MAJOR REVENUE SUMMARY Charges for Services The large difference between 2026 and prior years is due to no longer receiving EMS Transport Fees with the move to the RFA. $1,536,019 $3,053,930 $3,456,462 $3,893,542 $3,313,333 - 500,000.00 1,000,000.00 1,500,000.00 2,000,000.00 2,500,000.00 3,000,000.00 3,500,000.00 4,000,000.00 4,500,000.00 5,000,000.00 2022 2023 2024 2025 2026 Charges for Services Revenues (January through May ) Water Utility Tax The large difference between 2026 and prior years is due to the increase in Utility Tax from 10% to 20% that will sunset on July 1, 2027. $350,681 $363,282 $398,695 $427,764 $940,037 - 100,000.00 200,000.00 300,000.00 400,000.00 500,000.00 600,000.00 700,000.00 800,000.00 900,000.00 1,000,000.00 2022 2023 2024 2025 2026 Water Utility Tax Revenues (January through May) Item 2.1 Packet pg. 13/53 11 MAJOR REVENUE SUMMARY Sewer Utility Tax The large difference between 2026 and prior years is due to the increase in Utility Tax from 10% to 20% that will sunset on July 1, 2027. $406,489 $424,703 $473,855 $519,568 $1,153,982 - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 2022 2023 2024 2025 2026 Sewer Utility Tax Revenues (January through May) Real Estate Excise Tax Real Estate Excise Taxes (REET) are collected from all real estate transactions. The utilization of this revenue is restricted to capital projects and projects identified in the capital facilities plan. Real Estate Excise Tax is up 6.05% from this point in time last year. $1,949,651 $1,301,746 $1,053,507 $1,229,921 $1,242,573 $1,317,802 - 200,000.00 400,000.00 600,000.00 800,000.00 1,000,000.00 1,200,000.00 1,400,000.00 1,600,000.00 1,800,000.00 2,000,000.00 2,200,000.00 2,400,000.00 2021 2022 2023 2024 2025 2026 Real Estate Excise Taxes (January through May) Item 2.1 Packet pg. 14/53 12 ALL REVENUE SUMMARY Fund No.Title 2026 Amended Budget 5/31/2025 Revenues 5/31/2026 Revenues Amount Remaining % Received 001 GENERAL FUND 51,450,940$ 29,637,525$ 23,805,067$ 27,645,873$ 46% 009 LEOFF-MEDICAL INS. RESERVE 275,000 120,000 205,000 70,000 75% 016 BUILDING MAINTENANCE FUND 94,070 33,276 30,072 63,998 32% 017 MARSH RESTORATION & PRESERVATION FUND 50,000 - - 50,000 0% 019 EDMONDS OPIOID RESPONSE FUND 50,000 - 13,802 36,198 28% 104 DRUG ENFORCEMENT FUND 4,610 1,192 677 3,933 15% 111 STREET FUND 3,105,000 997,075 831,447 2,273,553 27% 112 COMBINED STREET CONST/IMPROVE 9,027,861 1,191,145 407,921 8,619,940 5% 117 MUNICIPAL ARTS ACQUIS. FUND 121,420 94,087 17,106 104,314 14% 120 HOTEL/MOTEL TAX REVENUE FUND 128,910 46,164 42,827 86,083 33% 121 EMPLOYEE PARKING PERMIT FUND 54,950 10,260 28,287 26,663 51% 122 YOUTH SCHOLARSHIP FUND 2,340 765 386 1,954 17% 123 TOURISM PROMOTIONAL FUND/ARTS 8,740 17,799 16,605 (7,865) 190% 125 REAL ESTATE EXCISE TAX 2 2,139,330 686,651 722,165 1,417,165 34% 126 REAL ESTATE EXCISE TAX 1 2,262,900 740,546 749,223 1,513,677 33% 127 GIFTS CATALOG FUND 332,360 117,866 175,645 156,715 53% 130 CEMETERY MAINTENANCE/IMPROVEMT 202,562 103,115 133,171 69,391 66% 137 CEMETERY MAINTENANCE TRUST FD 96,924 42,374 18,785 78,139 19% 138 SISTER CITY COMMISSION 6,230 444 415 5,815 7% 140 BUSINESS IMPROVEMENT DISTRICT 79,209 41,908 47,885 31,324 60% 141 AFFORDABLE AND SUPPORTIVE HOUSING FUND 65,000 19,584 21,433 43,567 33% 142 EDMONDS RESCUE PLAN FUND - 2,083 - - 0% 143 TREE FUND 58,259 298,092 11,070 47,189 19% 231 2012 LT GO DEBT SERVICE FUND 301,190 26,208 25,058 276,133 8% 332 PARKS CAPITAL CONSTRUCTION FUND 335,860 88,896 48,868 286,992 15% 411 COMBINED UTILITY OPERATION - 61,120 61,795 (61,795) 0% 421 WATER UTILITY FUND 15,030,903 5,015,358 6,708,803 8,322,100 45% 422 STORM UTILITY FUND 12,850,528 3,887,593 4,863,356 7,987,172 38% 423 SEWER/WWTP UTILITY FUND 20,499,448 8,968,238 8,190,328 12,309,120 40% 424 BOND RESERVE FUND 1,148,390 116 1 1,148,389 0% 511 EQUIPMENT RENTAL FUND 2,512,920 1,441,543 1,053,263 1,459,657 42% 512 TECHNOLOGY RENTAL FUND 2,673,614 1,009,064 1,004,438 1,669,176 38% 124,969,468$ 54,700,088$ 49,234,899 75,734,569$ 39% CITY OF EDMONDS REVENUES BY FUND - SUMMARY Item 2.1 Packet pg. 15/53 13 ALL REVENUE SUMMARY Fund No.Title 2025-2026 Adopted Revenue Budget 2025-2026 Actual Revenues Period 1-17 Amount Remaining % Received 001 GENERAL FUND 110,617,025$ 81,104,671$ 29,512,354$ 73% 009 LEOFF-MEDICAL INS. RESERVE 550,000 525,000 25,000 95% 016 BUILDING MAINTENANCE FUND 194,410 108,824 85,586 56% 017 MARSH RESTORATION & PRESERVATION FUND 50,000 - 50,000 0% 019 EDMONDS OPIOID RESPONSE FUND 100,000 98,865 1,135 99% 104 DRUG ENFORCEMENT FUND 9,400 3,489 5,911 37% 111 STREET FUND 5,545,000 3,261,953 2,283,047 59% 112 COMBINED STREET CONST/IMPROVE 12,153,779 3,229,370 8,924,409 27% 117 MUNICIPAL ARTS ACQUIS. FUND 548,241 191,789 356,452 35% 120 HOTEL/MOTEL TAX REVENUE FUND 258,410 184,134 74,276 71% 121 EMPLOYEE PARKING PERMIT FUND 110,290 40,863 69,427 37% 122 YOUTH SCHOLARSHIP FUND 4,750 2,172 2,578 46% 123 TOURISM PROMOTIONAL FUND/ARTS 57,970 69,608 (11,638) 120% 125 REAL ESTATE EXCISE TAX 2 3,787,950 2,863,340 924,610 76% 126 REAL ESTATE EXCISE TAX 1 4,043,320 3,014,974 1,028,346 75% 127 GIFTS CATALOG FUND 677,940 2,322,622 (1,644,682) 343% 130 CEMETERY MAINTENANCE/IMPROVEMT 675,719 669,077 6,642 99% 137 CEMETERY MAINTENANCE TRUST FD 183,761 106,614 77,147 58% 138 SISTER CITY COMMISSION 17,540 6,486 11,054 37% 140 BUSINESS IMPROVEMENT DISTRICT 158,418 124,274 34,144 78% 141 AFFORDABLE AND SUPPORTIVE HOUSING FUND 130,000 91,515 38,485 70% 142 EDMONDS RESCUE PLAN FUND - 9,167 (9,167) 0% 143 TREE FUND 141,761 323,196 (181,435) 228% 231 2012 LT GO DEBT SERVICE FUND 607,060 331,260 275,800 55% 332 PARKS CAPITAL CONSTRUCTION FUND 684,482 200,366 484,116 29% 411 COMBINED UTILITY OPERATION - 61,795 (61,795) 0% 421 WATER UTILITY FUND 26,394,575 20,375,564 6,019,011 77% 422 STORM UTILITY FUND 22,624,042 13,650,609 8,973,433 60% 423 SEWER/WWTP UTILITY FUND 39,829,016 28,580,738 11,248,278 72% 424 BOND RESERVE FUND 2,323,310 1,149,370 1,173,940 49% 511 EQUIPMENT RENTAL FUND 4,889,190 3,970,926 918,264 81% 512 TECHNOLOGY RENTAL FUND 5,077,196 3,413,192 1,664,004 67% 242,444,555$ 170,085,823$ 72,358,732$ 70% CITY OF EDMONDS REVENUES BY FUND - BIENNIAL SUMMARY Item 2.1 Packet pg. 16/53 14 ALL EXPENDITURE SUMMARY Fund No.Title 2026 Amended Budget 5/31/2025 Expenditures 5/31/2026 Expenditures Amount Remaining % Spent 001 GENERAL FUND 51,303,307$ 24,011,042$ 20,765,873$ 30,537,434$ 40% 009 LEOFF-MEDICAL INS. RESERVE 311,500 138,478 208,939 102,561 67% 011 RISK MANAGEMENT RESERVE FUND - - - - 0% 014 HISTORIC PRESERVATION GIFT FUND 5,700 - - 5,700 0% 016 BUILDING MAINTENANCE FUND 1,850,000 7,040 147,731 1,702,269 8% 017 MARSH RESTORATION & PRESERVATION FUND 98,240 - - 98,240 0% 018 EDMONDS HOMELESSNESS RESPONSE FUND 8,325 38,989 179 8,146 2% 019 EDMONDS OPIOID RESPONSE FUND 50,000 - - 50,000 0% 104 DRUG ENFORCEMENT FUND 20,000 - 13,615 6,385 68% 111 STREET FUND 2,733,686 910,581 1,115,102 1,618,584 41% 112 COMBINED STREET CONST/IMPROVE 8,655,152 751,121 572,808 8,082,344 7% 117 MUNICIPAL ARTS ACQUIS. FUND 353,012 69,695 96,341 256,671 27% 120 HOTEL/MOTEL TAX REVENUE FUND 96,000 27,646 115,964 (19,964) 121% 121 EMPLOYEE PARKING PERMIT FUND 33,403 - - 33,403 0% 122 YOUTH SCHOLARSHIP FUND 3,000 300 - 3,000 0% 123 TOURISM PROMOTIONAL FUND/ARTS 47,300 6,440 11,771 35,529 25% 125 REAL ESTATE EXCISE TAX 2 1,442,033 175,198 305,317 1,136,716 21% 126 REAL ESTATE EXCISE TAX 1 1,414,404 90,266 347,756 1,066,648 25% 127 GIFTS CATALOG FUND 660,017 175,120 159,514 500,503 24% 130 CEMETERY MAINTENANCE/IMPROVEMT 342,936 112,203 142,693 200,243 42% 137 CEMETERY MAINTENANCE TRUST FUND 25,000 - - 25,000 0% 138 SISTER CITY COMMISSION 7,400 - - 7,400 0% 140 BUSINESS IMPROVEMENT DISTRICT 85,875 26,188 30,400 55,475 35% 142 EDMONDS RESCUE PLAN FUND - - - - 0% 143 TREE FUND 75,000 3,704 42,212 32,788 56% 231 2012 LT GO DEBT SERVICE FUND 301,540 - - 301,540 0% 332 PARKS CAPITAL CONSTRUCTION FUND 127,000 - - 127,000 0% 421 WATER UTILITY FUND 18,670,058 6,366,210 3,801,240 14,868,818 20% 422 STORM UTILITY FUND 11,201,524 5,052,254 3,130,935 8,070,589 28% 423 SEWER/WWTP UTILITY FUND 20,052,059 6,603,932 7,244,105 12,807,954 36% 424 BOND RESERVE FUND 1,148,390 - - 1,148,390 0% 511 EQUIPMENT RENTAL FUND 1,981,981 1,077,817 788,819 1,193,162 40% 512 TECHNOLOGY RENTAL FUND 2,782,528 1,118,870 1,233,239 1,549,289 44% 125,886,370$ 46,763,095$ 40,274,554 85,611,816$ 32% CITY OF EDMONDS EXPENDITURES BY FUND - SUMMARY Item 2.1 Packet pg. 17/53 15 ALL EXPENDITURE SUMMARY Fund No.Title 2025-2026 Adopted Expenditure Budget 2025-2026 Actual Expenditures Period 1-17 Amount Remaining % Spent 001 GENERAL FUND 109,565,322$ 75,437,231$ 34,128,091$ 69% 009 LEOFF-MEDICAL INS. RESERVE 629,000 546,936 82,064 87% 011 RISK MANAGEMENT RESERVE FUND - - - 0% 014 HISTORIC PRESERVATION GIFT FUND 11,400 - 11,400 0% 016 BUILDING MAINTENANCE FUND 2,714,068 402,174 2,311,894 15% 017 MARSH RESTORATION & PRESERVATION FUND 183,960 7,258 176,702 4% 018 EDMONDS HOMELESSNESS RESPONSE FUND 196,425 109,515 86,910 56% 019 EDMONDS OPIOID RESPONSE FUND 450,000 - 450,000 0% 104 DRUG ENFORCEMENT FUND 40,000 14,765 25,235 37% 111 STREET FUND 5,374,146 3,100,545 2,273,601 58% 112 COMBINED STREET CONST/IMPROVE 11,206,049 2,730,550 8,475,499 24% 117 MUNICIPAL ARTS ACQUIS. FUND 768,927 282,837 486,090 37% 120 HOTEL/MOTEL TAX REVENUE FUND 290,000 288,891 1,109 100% 121 EMPLOYEE PARKING PERMIT FUND 65,173 24,314 40,859 37% 122 YOUTH SCHOLARSHIP FUND 6,000 300 5,700 5% 123 TOURISM PROMOTIONAL FUND/ARTS 84,800 41,326 43,474 49% 125 REAL ESTATE EXCISE TAX 2 3,238,613 1,206,068 2,032,545 37% 126 REAL ESTATE EXCISE TAX 1 4,054,434 2,002,961 2,051,473 49% 127 GIFTS CATALOG FUND 1,298,953 581,471 717,482 45% 130 CEMETERY MAINTENANCE/IMPROVEMT 671,945 424,975 246,970 63% 137 CEMETERY MAINTENANCE TRUST FUND 311,124 272,174 38,950 87% 138 SISTER CITY COMMISSION 14,800 - 14,800 0% 140 BUSINESS IMPROVEMENT DISTRICT 173,320 114,793 58,527 66% 142 EDMONDS RESCUE PLAN FUND - - - 0% 143 TREE FUND 150,000 109,854 40,146 73% 231 2012 LT GO DEBT SERVICE FUND 607,760 306,203 301,558 50% 332 PARKS CAPITAL CONSTRUCTION FUND 237,035 67,814 169,221 29% 421 WATER UTILITY FUND 41,240,704 21,200,643 20,040,061 51% 422 STORM UTILITY FUND 23,800,916 12,749,922 11,050,994 54% 423 SEWER/WWTP UTILITY FUND 40,183,800 24,334,164 15,849,636 61% 424 BOND RESERVE FUND 2,297,790 1,149,369 1,148,421 50% 511 EQUIPMENT RENTAL FUND 4,121,587 2,773,891 1,347,696 67% 512 TECHNOLOGY RENTAL FUND 5,010,600 3,165,772 1,844,828$ 63% 258,998,651$ 153,446,717$ 105,551,934$ 59% CITY OF EDMONDS EXPENDITURES BY FUND - BIENNIAL SUMMARY Item 2.1 Packet pg. 18/53 16 SALARIES AND BENEFITS SUMMARY Below is a comparison of the total staff labor related costs (salaries and benefits) for 2019 through 2026. $12,108,903 $12,453,389 $12,888,253 $13,270,448 $17,281,663 $18,202,664 $17,088,980 $16,672,442 - 2,000,000.00 4,000,000.00 6,000,000.00 8,000,000.00 10,000,000.00 12,000,000.00 14,000,000.00 16,000,000.00 18,000,000.00 20,000,000.00 2019 2020 2021 2022 2023 2024 2025 2026 Salaries & Benefits (January through May) Department 2026 Approved "Regular" positions 2026 Modification Reductions 2026 Total (with modification) 2026 Active (as of 3/5/26) 2026 Vacant but funded (as of 3/6/26) City Council 8.00 8.00 8.00 - Mayor 5.00 5.00 5.00 - City Administrator 2.00 2.00 Human Resources 4.00 4.00 4.00 - Court 11.67 11.67 11.00 0.67 Administrative Services 10.00 10.00 9.00 1.00 Information Services 6.00 6.00 5.00 1.00 Police 61.75 (2.00) 59.75 58.75 1.00 Planning & Development 21.00 21.00 20.00 1.00 Parks, Recreation and Human Services 30.32 (2.00) 28.32 26.00 2.32 Public Works Admin/Facilities 15.06 15.06 11.06 4.00 Engineering 18.50 18.50 14.50 4.00 Streets/Storm 20.00 20.00 17.00 3.00 Water/Sewer/Treatment Plant 38.00 38.00 30.00 8.00 Equipment Rental 4.00 4.00 4.00 - Total City Employee Count 255.30 (4.00) 251.30 223.31 25.99 The above chart only reflects approved and funded "regular" positions. Unfunded "Regular" PositionsUnfunded "Irregular" Positions Mayor 1.00 Human Resources 0.63 - Court 1.00 - Administrative Services 2.00 - Information Services 1.00 0.25 Police 26.00 - Community Services & Economic Development 1.75 - Planning & Development 1.00 - Parks, Recreation and Human Services 10.94 2.87 Public Works Admin/Facilities 1.00 - Engineering - 1.00 46.32 4.12 Item 2.1 Packet pg. 19/53 17 Page 1 of 3 Title 2026 Amended Budget 5/31/2025 Expenditures 5/31/2026 Expenditures Amount Remaining % Spent CITY COUNCIL SALARIES AND WAGES 265,506$ 103,169$ 101,794$ 163,712$ 38% OVERTIME - - 813 (813) 0% BENEFITS 135,028 74,596 64,052 70,976 47% 400,534$ 177,765$ 166,659$ 233,875$ 42% OFFICE OF MAYOR SALARIES AND WAGES 298,357$ 140,453$ 134,645$ 163,712$ 45% OVERTIME - - 140 (140) 0% BENEFITS 77,027 30,453 40,565 36,462 53% 375,384$ 170,906$ 175,349$ 200,035$ 47% HUMAN RESOURCES SALARIES AND WAGES 626,019$ 228,337$ 271,992$ 354,027$ 43% OVERTIME - - - - 0% BENEFITS 221,541 82,926 91,498 130,043 41% 847,560$ 311,263$ 363,490$ 484,070$ 43% CITY ADMINISTRATOR SALARIES AND WAGES 368,025$ 121,178$ 246,848$ 33% OVERTIME - - - 0% BENEFITS 97,691 35,626 62,065 36% 465,716$ -$ 156,804$ 308,912$ 34% CITY CLERK SALARIES AND WAGES 261,548$ 96,182$ 165,366$ 37% OVERTIME - - - 0% BENEFITS 94,617 34,248 60,369 36% 356,165$ -$ 130,430$ 225,735$ 37% ADMINISTRATIVE SERVICES SALARIES AND WAGES 1,225,806$ 642,480$ 509,383$ 716,423$ 42% OVERTIME 8,000 4,721 16,037 (8,037) 200% BENEFITS 447,639 198,465 143,926 303,713 32% 1,681,445$ 845,666$ 669,346$ 1,012,099$ 40% NON-DEPARTMENTAL SALARIES AND WAGES 249,063$ -$ -$ 249,063$ 0% OVERTIME - - - - 0% BENEFITS 48,607 66,787 26,335 22,272 54% 297,670$ 66,787$ 26,335$ 271,335$ 9% POLICE SERVICES SALARIES AND WAGES 9,364,798$ 4,050,267$ 3,626,753$ 5,738,045$ 39% OVERTIME 764,747 195,922 314,287 450,460 41% HOLIDAY BUYBACK 287,420 2,697 - 287,420 0% BENEFITS 3,281,907 1,450,342 1,445,554 1,836,353 44% 13,698,872$ 5,699,228$ 5,386,595$ 8,312,277$ 39% MUNICIPAL COURT SALARIES AND WAGES 1,455,523$ 434,599$ 558,887$ 896,636$ 38% OVERTIME 10,000 4,795 5,261 4,739 53% BENEFITS 418,948 137,398 173,342 245,606 41% 1,884,471$ 576,792$ 737,491$ 1,146,980$ 39% COMMUNITY SERVICES/ECON DEV. SALARIES AND WAGES -$ 255,869$ 10,793$ (10,793)$ 0% OVERTIME - 6,093 - - 0% BENEFITS - 87,224 2,970 (2,970) 0% -$ 349,187$ 13,763$ (13,763)$ 0% PLANNING & DEVELOPMENT SALARIES AND WAGES 2,421,740$ 845,814$ 935,187$ 1,486,553$ 39% OVERTIME - - - - 0% BENEFITS 919,886 291,491 355,914 563,972 39% 3,341,626$ 1,137,305$ 1,291,101$ 2,050,525$ 39% HUMAN SERVICES PROGRAM SALARIES AND WAGES $ - $ 47,427 $ - $ - 0% OVERTIME - - - - 0% BENEFITS - 13,441 - - 0% $ - $ 60,869 $ - $ - 0% CITY OF EDMONDS GENERAL FUND - SALARIES AND BENEFITS - BY DEPARTMENT IN DETAIL Item 2.1 Packet pg. 20/53 18 Page 2 of 3 PARKS & RECREATION SALARIES AND WAGES 2,571,512$ 1,028,570$ 1,005,310$ 1,566,202$ 39% OVERTIME 10,000 667 3,787 6,213 38% BENEFITS 1,025,458 394,036 369,712 655,746 36% 3,606,970$ 1,423,273$ 1,378,809$ 2,228,161$ 38% PUBLIC WORKS ADMINISTRATION SALARIES AND WAGES 489,335$ 145,296$ 215,864$ 273,471$ 44% OVERTIME - - - - 0% BENEFITS 194,326 57,362 70,163 124,163 36% 683,661$ 202,659$ 286,027$ 397,634$ 42% FACILITIES MAINTENANCE SALARIES AND WAGES 1,038,037$ 470,605$ 400,058$ 637,979$ 39% OVERTIME 9,000 2,169 1,182 7,818 13% BENEFITS 453,470 185,259 156,467 297,003 35% 1,500,507$ 658,034$ 557,708$ 942,800$ 37% ENGINEERING SALARIES AND WAGES 2,665,936$ 852,156$ 875,063$ 1,790,873$ 33% OVERTIME 5,857 1 - 5,857 0% BENEFITS 957,890 312,543 284,742 673,148 30% 3,629,683$ 1,164,699$ 1,159,805$ 2,469,878$ 32% TOTAL GENERAL FUND SALARIES AND BENEFITS 32,770,264$ 12,844,430$ 12,499,711$ 20,270,553$ 38% LEOFF-MEDICAL INS. RESERVE (009) BENEFITS 167,000$ 76,057$ 89,629$ 77,371$ 54% 167,000$ 76,057$ 89,629$ 77,371$ 54% STREET FUND (111) SALARIES AND WAGES 1,026,728$ 272,514$ 285,950$ 740,778$ 28% OVERTIME 41,700 11,842 12,897 28,803 31% BENEFITS 449,049 118,151 106,737 342,312 24% 1,517,477$ 402,507$ 405,584$ 1,111,893$ 27% MUNICIPAL ARTS ACQUIS. FUND (117) SALARIES AND WAGES 97,365$ 39,798$ -$ 97,365$ 0% BENEFITS 44,247 - - 44,247 0% 141,612$ 39,798$ -$ 141,612$ 0% EMPLOYEE PARKING PERMIT FUND (121) SALARIES AND WAGES 23,718$ -$ -$ 23,718$ 0% OVERTIME - - - - 0% BENEFITS 7,585 - - 7,585 0% 31,303$ -$ -$ 31,303$ 0% REAL ESTATE EXCISE TAX 1 (125) SALARIES AND WAGES 133,843$ 35,078$ 31,923$ 101,920$ 24% OVERTIME - - - - 0% BENEFITS 56,831 11,557 11,976 44,855 21% 190,674$ 46,635$ 43,899$ 146,775$ 23% GIFTS CATALOG FUND (127) SALARIES AND WAGES 288,125$ 104,975$ 88,543$ 199,582$ 31% OVERTIME - - 331 (331) 0% BENEFITS 146,862 41,255 33,585 113,277 23% 434,987$ 146,231$ 122,460$ 312,527$ 28% CITY OF EDMONDS NON GENERAL FUND - SALARIES AND BENEFITS - BY DEPARTMENT IN DETAIL CITY OF EDMONDS GENERAL FUND - SALARIES AND BENEFITS - BY DEPARTMENT IN DETAIL Item 2.1 Packet pg. 21/53 19 Page 3 of 3 CEMETERY MAINTENANCE/IMPROVEMENT (130) SALARIES AND WAGES 198,453$ 60,290$ 70,265$ 128,188$ 35% OVERTIME 3,500 521 - 3,500 0% BENEFITS 75,188 24,682 48,603 26,585 65% 277,141$ 85,493$ 118,869$ 158,272$ 43% WATER FUND (421) SALARIES AND WAGES 1,278,765$ 426,480$ 392,936$ 885,829$ 31% OVERTIME 27,500 15,727 18,508 8,992 67% BENEFITS 546,838 195,762 178,090 368,748 33% 1,853,103$ 637,969$ 589,534$ 1,263,569$ 32% STORM FUND (422) SALARIES AND WAGES 1,078,536$ 387,383$ 439,366$ 639,170$ 41% OVERTIME 28,552 14,331 9,087 19,465 32% BENEFITS 450,180 180,630 198,268 251,912 44% 1,557,268$ 582,344$ 646,721$ 910,547$ 42% SEWER FUND (423) SALARIES AND WAGES 891,334$ 1,123,859$ 311,467$ 579,867$ 35% OVERTIME 32,438 82,891 13,042 19,396 40% BENEFITS 353,292 433,095 117,172 236,120 33% 1,277,064$ 1,639,845$ 441,681$ 835,383$ 35% SEWER FUND (423) - WWTP SALARIES AND WAGES 2,383,116$ 706,741$ 1,676,375$ 30% OVERTIME 125,000 152,803 (27,802.81) 122% BENEFITS 907,763 282,613 625,149.64 31% 3,415,879$ -$ 1,142,157$ 2,273,722$ 33% EQUIPMENT RENTAL FUND (511) SALARIES AND WAGES 472,509$ 188,816$ 199,480$ 273,029$ 42% OVERTIME 5,000 75 - 5,000 0% BENEFITS 166,475 64,721 67,756 98,719 41% 643,984$ 253,612$ 267,236$ 376,748$ 41% TECHNOLOGY RENTAL FUND (512) SALARIES AND WAGES 674,757$ 245,467$ 230,240$ 444,517$ 34% OVERTIME - 243 - - 0% BENEFITS 251,096 88,350 74,722 176,374 30% 925,853$ 334,061$ 304,962$ 620,891$ 33% TOTAL SALARIES AND BENEFITS - ALL FUNDS 45,203,609 17,088,980 16,672,443 28,531,166 37% CITY OF EDMONDS NON GENERAL FUND - SALARIES AND BENEFITS - BY DEPARTMENT IN DETAIL Item 2.1 Packet pg. 22/53 20 DEBT SUMMARY *This 1st table only reflects the total outstanding principal payments (does not include interest). 2024 Outstanding Fund 001 Fund 111 Fund 112 Fund 126 Fund 421 Fund 422 Fund 423 PFD 2012 LTGO 505,000 505,000 2019 LTGO 2,715,000 2,715,000 2021 LTGO (A)9,015,000 3,410,000 1,270,000 2,640,571 1,260,961 433,468 2021 LTGO (B)2,230,000 2,230,000 2015 Revenue Bond 12,920,000 3,911,810 2,583,269 6,424,921 2020 Revenue Bond 13,875,000 13,875,000 2024 Revenue Bond 19,600,000 11,470,000 2,695,000 5,435,000 PWTFL 06-692-012 32,882 32,882 DOE L1400002 294,776 294,776 Sno Co Loan #03-2016 383,862 383,862 2016 (2007 Refinance) Chase Bank 343,056 59,485 4,597 26,758 3,088 112,729 136,399 64,653,920 3,677,827 9,105 65,763 4,868,002 18,878,331 7,551,663 27,258,229 2,345,000 Total Debt Outstanding 64,653,920 *This 2nd table reflects both the principal and interest portions of the debt payments. 2026 2027 2028 2029 2030 2035 2040 2045 2012 LTGO 131,063 83,663 81,975 80,288 83,600 81,800 - - 2019 LTGO 236,475 233,725 235,725 232,225 233,475 1,169,656 935,875 - 2021 LTGO (A)1,212,750 1,215,250 1,215,500 1,213,500 1,209,250 2,662,050 1,801,000 357,000 2021 LTGO (B)170,115 167,715 170,315 167,815 170,315 841,188 845,055 169,290 2015 Revenue Bond 1,148,369 1,148,119 1,147,269 1,149,925 1,145,875 5,741,250 5,739,200 - 2020 Revenue Bond 304,044 304,044 304,044 304,044 304,044 1,520,219 3,634,019 12,541,456 2024 Revenue Bond 1,395,000 1,389,250 1,392,750 1,390,000 1,391,250 10,885,500 8,815,000 3,406,500 PWTFL 05-691-015 - - - - - - - - PWTFL 06-692-012 33,046 - - - - - - - DOE L1400002 40,570 40,570 40,570 40,570 40,570 121,710 - - Sno Co Loan #03-2016 35,286 34,843 34,400 33,957 33,514 160,927 91,241 2016 (2007 Refinance) Chase Bank 348,785 - - - - - - - Total Principal and Interest Debt Outstanding 85,039,379$ Annual Principal and Interest Debt Payments Item 2.1 Packet pg. 23/53 21 INTERFUND LOAN SUMMARY Below are details of the Interfund Loans from Funds 421 and 422 to the General Fund in 2025. Month Beginning Balance Loan Repayment Total Balance Interest Rate (%)Monthly Interest 2026-01 3,500,000 (145,833) 3,354,167 4.45%12,440 2026-02 3,354,167 (145,833) 3,208,334 4.45%11,899 2026-03 3,208,334 (145,833) 3,062,501 4.45%11,358 2026-04 3,062,501 (145,833) 2,916,668 4.45%10,817 2026-05 2,916,668 (145,833) 2,770,835 4.45%10,277 2026-06 2,770,835 2,770,835 4.45% 2026-07 2,770,835 2,770,835 4.45% 2026-08 2,770,835 2,770,835 4.45% 2026-09 2,770,835 2,770,835 4.45% 2026-10 2,770,835 2,770,835 4.45% 2026-11 2,770,835 2,770,835 4.45% 2026-12 2,770,835 2,770,835 4.45% (729,165) 56,792 *The "Monthly Interest" is the interest charged on the outstanding balance in each month of 2026. Fund 421 - Principal Repayment Schedule Month Beginning Balance Loan Repayment Total Balance Interest Rate (%)Monthly Interest 2026-01 2,500,000 (104,167) 2,395,833 4.45%8,881 2026-02 2,395,833 (104,167) 2,291,666 4.45%8,495 2026-03 2,291,666 (104,167) 2,187,499 4.45%8,109 2026-04 2,187,499 (104,167) 2,083,332 4.45%7,723 2026-05 2,083,332 (104,167) 1,979,165 4.45%7,337 2026-06 1,979,165 1,979,165 4.45% 2026-07 1,979,165 1,979,165 4.45% 2026-08 1,979,165 1,979,165 4.45% 2026-09 1,979,165 1,979,165 4.45% 2026-10 1,979,165 1,979,165 4.45% 2026-11 1,979,165 1,979,165 4.45% 2026-12 1,979,165 1,979,165 4.45% (520,835) 40,545 *The "Monthly Interest" is the interest charged on the outstanding balance in each month of 2026. Fund 422 - Principal Repayment Schedule Month Beginning Balance 25 Int. payment Total Balance 2026-01 155,771 (12,981) 142,790 2026-02 142,790 (12,981) 129,809 2026-03 129,809 (12,981) 116,828 2026-04 116,828 (12,981) 103,847 2026-05 103,847 (12,981) 90,866 2026-06 90,866 90,866 2026-07 90,866 90,866 2026-08 90,866 90,866 2026-09 90,866 90,866 2026-10 90,866 90,866 2026-11 90,866 90,866 2026-12 90,866 90,866 (64,905) *The $155,771 is the total interest owed to Fund 421 for 2025. Fund 421 - 2025 Interest payment Month Beginning Balance 25 Int. payment Total Balance 2026-01 110,297 (9,191) 101,106 2026-02 101,106 (9,191) 91,915 2026-03 91,915 (9,191) 82,724 2026-04 82,724 (9,191) 73,533 2026-05 73,533 (9,191) 64,342 2026-06 64,342 64,342 2026-07 64,342 64,342 2026-08 64,342 64,342 2026-09 64,342 64,342 2026-10 64,342 64,342 2026-11 64,342 64,342 2026-12 64,342 64,342 (45,955) *The $110,297 is the total interest owed to Fund 422 for 2025. Fund 422 - 2025 Interest payment Item 2.1 Packet pg. 24/53 22 INVESTMENT PORTFOLIO SUMMARY Years Agency/Investment Purchase to Par Market Maturity Coupon Issuer Type Price Maturity Value Value Date Rate FHLMC Bonds 993,661 0.14 1,115,000 1,110,223 07/22/26 0.830% Farmer Mac Bonds 2,057,309 0.47 2,305,000 2,276,034 11/17/26 1.150% First Financial - Waterfront Center CD 245,000 0.58 245,000 245,000 12/27/26 2.469% US Treasury Note Note 1,003,690 0.75 1,000,000 1,002,051 02/28/27 4.125% First Financial - ECA CD 2,803,516 1.46 2,803,516 2,803,516 11/15/27 2.956% FAMC Bonds 1,060,671 1.66 1,061,000 1,054,512 01/26/28 3.625% FAMC Bonds 930,600 2.42 1,000,000 926,010 10/30/28 0.850% FHLB Bonds 994,400 3.32 1,000,000 980,716 09/24/29 3.500% Resolution Funding Corporation Bonds 999,192 3.88 1,220,000 1,035,275 04/15/30 4.482% FFCB Bonds 1,002,270 4.80 1,000,000 994,807 03/17/31 4.125% FFCB Bonds 991,753 5.16 1,165,000 1,006,752 07/28/31 1.310% TOTAL SECURITIES 13,082,063 2.24 13,914,516 13,434,898 Washington State Local Gov't Investment Pool 65,748,559 65,748,559 Demand 3.67% 79,663,075$ 79,183,457$ US Bank Account 11,655,255 91,318,330$ As of May 31, 2026 City of Edmonds Investment Portfolio Detail TOTAL PORTFOLIO Farmer Mac, 17% First Financial - CD, 22% FFCB, 16% FAMC, 15% FHLB, 7% FHLMC, 8% US Treasury Note, 7% Issuer Diversification Checking, $11.66 , 13% State LGIP, $65.75 , 72% CD's, $3.05 , 3% Note, $1.00 , 1% Bonds, $9.87 , 11% Cash and Investment Balances (in $ Millions) Item 2.1 Packet pg. 25/53 23 INVESTMENT PORTFOLIO SUMMARY $947,931 $950,684 $1,091,709 $1,683,872 $3,044,847 $2,914,584 $1,068,336 $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 2020 2021 2022 2023 2024 2025 YTD 2026 Annual Interest Income 324,687 481,279 367,590 503,784 1,071,873 1,151,607 1,068,336 - 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 2020 2021 2022 2023 2024 2025 YTD 2026 Interest Income (January through May) Item 2.1 Packet pg. 26/53 *The actual/estimate line combines actuals through the reporting month and budget allocations based on the prior year trend. *The budget line allocates the 2026 budget to each month based on the prior year trend. (2,500,634) (2,879,595) (3,262,653) 17,558 390,219 (439,760) (970,480) (1,556,559)(1,887,484) 1,704,015 1,358,546 (85,408) (233,041) (2,518,565) (2,872,097) (1,686,418) 2,625,381 2,943,269 1,978,022 1,247,302 361,223 (69,701) 3,354,122 3,008,653 1,385,089 (4,000,000) (3,000,000) (2,000,000) (1,000,000) - 1,000,000 2,000,000 3,000,000 4,000,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budgeted vs Actual/Estimate Cash Balance Budget Actual/Estimate 24 Item 2.1 Packet pg. 27/53 City of Edmonds 2026 General Fund (001) Cash Flow Report (with ACTUALS) Beginning Cash Balance (233,040.83) Difference Revenues Jan Actual Feb Actual Mar Actual Apr Actual May Actual Jun Forecast Jul Forecast Aug Forecast Sep Forecast Oct Forecast Nov Forecast Dec Forecast Total Budget inc / (dec) 2,714,712 3,599,318 5,086,550 8,246,184 4,158,304 3,442,241 3,170,795 3,040,233 3,538,933 7,609,676 3,835,967 3,029,594 51,472,506 51,450,940 21,566 Expenditures Jan Actual Feb Actual Mar Actual Apr Actual May Actual Jun Forecast Jul Forecast Aug Forecast Sep Forecast Oct Forecast Nov Forecast Dec Forecast Total Budget Balance 5,139,579 4,100,965 3,750,362 3,887,023 3,887,944 4,407,487 3,901,515 3,926,312 3,969,857 4,185,853 4,181,436 4,653,158 49,991,492 51,303,307 (1,311,815) Net Revenue/(Expenditures) (2,424,868) (501,647) 1,336,188 4,359,161 270,360 ( 965,246) (730,720) (886,079) (430,924) 3,423,823 (345,469)(1,623,564) 1,481,015 147,633 1 ,333,381 Changes in AR (45,984) (36,262) (63,210) 182,044 (38,980) Changes in AP 1 85,327 184,377 (87,299) (229,407) 86,508 Changes in Cash/Petty Cash Cash Balance (Estimate) (2,518,565) (2,872,097) (1,686,418) 2,625,381 2,943,269 1,978,022 1,247,302 361,223 (69,701) 3,354,122 3,008,653 1,385,089 2D Item 2.1 Packet pg. 28/53 26 APPENDIX A Item 2.1 Packet pg. 29/53 27 GENERAL FUND DEPARTMENT EXPENSE SUMMARY City Council Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 46,364$ 46,364$ 36,151$ 36,151$ -22.03% February 93,936 47,571 38,451 74,602 -20.58% March 132,237 38,301 38,444 113,046 -14.51% April 171,198 38,961 38,359 151,405 -11.56% May 218,197 46,999 38,398 189,803 -13.01% June 252,198 34,001 29,576 219,379 -13.01% July 288,103 35,905 31,233 250,612 -13.01% August 323,828 35,726 31,077 281,689 -13.01% September 358,881 35,053 30,492 312,181 -13.01% October 396,773 37,891 32,961 345,141 -13.01% November 433,507 36,735 31,954 377,095 -13.01% December 467,980 34,473 29,987 407,082 -13.01% 467,980$ Office of Mayor Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 37,133$ 37,133$ 34,566$ 34,566$ -6.91% February 76,256 39,123 33,436 68,002 -10.82% March 119,627 43,371 35,401 103,403 -13.56% April 162,818 43,191 41,081 144,484 -11.26% May 218,503 55,685 48,278 192,762 -11.78% June 254,977 36,475 32,178 224,939 -11.78% July 295,532 40,554 35,777 260,716 -11.78% August 334,938 39,407 34,764 295,480 -11.78% September 373,551 38,613 34,064 329,544 -11.78% October 415,432 41,881 36,947 366,491 -11.78% November 451,910 36,478 32,181 398,672 -11.78% December 498,288 46,378 40,914 439,586 -11.78% 498,288$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Expenditure Summary-City Council 2026 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 Item 2.1 Packet pg. 30/53 28 GENERAL FUND DEPARTMENT EXPENSE SUMMARY Human Resources Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 117,220$ 117,220$ 82,364$ 82,364$ -29.74% February 210,140 92,920 76,930 159,294 -24.20% March 298,920 88,780 85,398 244,692 -18.14% April 385,637 86,717 107,265 351,957 -8.73% May 470,617 84,980 79,525 431,483 -8.32% June 558,695 88,078 80,754 512,236 -8.32% July 659,905 101,211 92,794 605,031 -8.32% August 743,642 83,736 76,773 681,804 -8.32% September 829,505 85,864 78,724 760,527 -8.32% October 918,768 89,263 81,840 842,367 -8.32% November 1,016,040 97,272 89,183 931,551 -8.32% December 1,107,619 91,579 83,964 1,015,514 -8.32% 1,107,619$ Municipal Court Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 189,096$ 189,096$ 196,947$ 196,947$ 4.15% February 391,251 202,155 196,077 393,024 0.45% March 585,303 194,052 203,226 596,250 1.87% April 778,348 193,045 204,280 800,530 2.85% May 979,006 200,658 210,247 1,010,777 3.25% June 1,183,670 204,664 211,305 1,222,082 3.25% July 1,393,819 210,149 216,969 1,439,051 3.25% August 1,619,396 225,577 232,897 1,671,948 3.25% September 1,850,836 231,440 238,951 1,910,899 3.25% October 2,088,461 237,625 245,336 2,156,235 3.25% November 2,322,013 233,552 241,132 2,397,367 3.25% December 2,552,713 230,700 238,187 2,635,553 3.25% 2,552,713$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Expenditure Summary-Human Resources 2026 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 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 2,200,000 2,400,000 2,600,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Municipal Court Current Year Budget Prior Year Item 2.1 Packet pg. 31/53 29 GENERAL FUND DEPARTMENT EXPENSE SUMMARY Administrative Services Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 167,859$ 167,859$ 152,119$ 152,119$ -9.38% February 319,958 152,100 156,285 308,404 -3.61% March 470,860 150,902 160,967 469,371 -0.32% April 614,608 143,748 182,555 651,926 6.07% May 809,752 195,143 184,689 836,615 3.32% June 941,605 131,853 136,227 972,842 3.32% July 1,071,213 129,608 133,907 1,106,750 3.32% August 1,207,441 136,228 140,748 1,247,498 3.32% September 1,345,211 137,770 142,340 1,389,838 3.32% October 1,507,636 162,425 167,813 1,557,651 3.32% November 1,673,368 165,732 171,230 1,728,881 3.32% December 1,818,360 144,992 149,802 1,878,684 3.32% 1,818,360$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Expenditure Summary-Administrative Services 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 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Administrative Services Current Year Budget Prior Year Item 2.1 Packet pg. 32/53 30 GENERAL FUND DEPARTMENT EXPENSE SUMMARY City Attorney Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 110,529$ 110,529$ 144,832$ 144,832$ 31.04% February 221,058 110,529 75,044 219,876 -0.53% March 331,586 110,529 96,588 316,464 -4.56% April 442,115 110,529 114,398 430,862 -2.55% May 552,644 110,529 109,122 539,984 -2.29% June 663,173 110,529 107,997 647,981 -2.29% July 773,702 110,529 107,997 755,977 -2.29% August 884,230 110,529 107,997 863,974 -2.29% September 994,759 110,529 107,997 971,971 -2.29% October 1,105,288 110,529 107,997 1,079,968 -2.29% November 1,215,817 110,529 107,997 1,187,965 -2.29% December 1,326,345 110,529 107,997 1,295,961 -2.29% 1,326,345$ Police Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 1,449,166$ 1,449,166$ 1,421,817$ 1,421,817$ -1.89% February 2,907,711 1,458,545 1,782,532 3,204,349 10.20% March 4,493,185 1,585,474 1,406,883 4,611,233 2.63% April 5,970,852 1,477,667 1,395,506 6,006,739 0.60% May 7,646,465 1,675,613 1,390,714 7,397,452 -3.26% June 9,233,573 1,587,108 1,535,423 8,932,875 -3.26% July 10,708,963 1,475,389 1,427,342 10,360,217 -3.26% August 12,121,519 1,412,556 1,366,555 11,726,772 -3.26% September 13,567,090 1,445,571 1,398,495 13,125,268 -3.26% October 15,127,520 1,560,429 1,509,613 14,634,881 -3.26% November 16,789,611 1,662,092 1,607,964 16,242,845 -3.26% December 18,323,189 1,533,578 1,483,636 17,726,481 -3.26% 18,323,189$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Expenditure Summary-City Attorney 2026 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 1,300,000 1,400,000 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 20,000,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Police Current Year Budget Prior Year Item 2.1 Packet pg. 33/53 31 GENERAL FUND DEPARTMENT EXPENSE SUMMARY Planning & Development Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 328,441$ 328,441$ 308,580$ 308,580$ -6.05% February 700,866 372,425 302,699 611,279 -12.78% March 1,108,848 407,982 323,645 934,924 -15.69% April 1,507,789 398,941 298,254 1,233,178 -18.21% May 1,867,620 359,831 348,978 1,582,156 -15.28% June 2,238,356 370,737 314,070 1,896,226 -15.28% July 2,567,000 328,644 278,411 2,174,637 -15.28% August 2,871,510 304,510 257,966 2,432,603 -15.28% September 3,319,197 447,687 379,258 2,811,862 -15.28% October 3,633,572 314,374 266,323 3,078,184 -15.28% November 3,977,280 343,709 291,173 3,369,358 -15.28% December 4,326,010 348,730 295,427 3,664,784 -15.28% 4,326,010$ Parks & Recreation Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 430,100$ 430,100$ 409,190$ 409,190$ -4.86% February 863,303 433,203 392,512 801,702 -7.14% March 1,357,115 493,812 376,399 1,178,101 -13.19% April 1,772,577 415,462 376,742 1,554,842 -12.28% May 2,209,958 437,381 412,576 1,967,418 -10.97% June 2,644,886 434,928 387,196 2,354,614 -10.97% July 3,112,182 467,296 416,011 2,770,624 -10.97% August 3,598,372 486,190 432,831 3,203,456 -10.97% September 4,044,879 446,507 397,504 3,600,960 -10.97% October 4,464,155 419,276 373,261 3,974,221 -10.97% November 4,878,059 413,904 368,479 4,342,700 -10.97% December 5,342,227 464,168 413,226 4,755,926 -10.97% 5,342,227$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Expenditure Summary-Planning & Development 2026 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 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Parks & Recreation Current Year Budget Prior Year Item 2.1 Packet pg. 34/53 32 GENERAL FUND DEPARTMENT EXPENSE SUMMARY Facilities Maintenance Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 242,473$ 242,473$ 211,604$ 211,604$ -12.73% February 490,971 248,498 170,000 381,604 -22.28% March 733,425 242,455 188,079 569,683 -22.33% April 987,110 253,684 175,604 745,287 -24.50% May 1,185,395 198,285 207,833 953,120 -19.59% June 1,535,749 350,354 281,703 1,234,823 -19.59% July 1,738,024 202,275 162,640 1,397,463 -19.59% August 1,765,212 27,188 21,861 1,419,323 -19.59% September 1,985,460 220,248 177,091 1,596,414 -19.59% October 2,191,154 205,694 165,389 1,761,803 -19.59% November 2,386,521 195,367 157,085 1,918,888 -19.59% December 2,606,747 220,226 177,073 2,095,962 -19.59% 2,606,747$ Engineering Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 359,857$ 359,857$ 303,830$ 303,830$ -15.57% February 714,231 354,374 247,021 550,851 -22.87% March 1,045,901 331,670 265,576 816,427 -21.94% April 1,389,504 343,603 246,192 1,062,619 -23.53% May 1,726,994 337,490 316,225 1,378,844 -20.16% June 2,112,969 385,975 308,165 1,687,009 -20.16% July 2,434,055 321,085 256,357 1,943,366 -20.16% August 2,788,117 354,062 282,686 2,226,052 -20.16% September 3,139,615 351,499 280,639 2,506,691 -20.16% October 3,475,863 336,248 268,462 2,775,153 -20.16% November 3,807,315 331,452 264,634 3,039,787 -20.16% December 4,154,599 347,284 277,274 3,317,061 -20.16% 4,154,599$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Expenditure Summary-Facilities Maintenance 2026 City of Edmonds, WA Monthly Expenditure Summary-Engineering 0 300,000 600,000 900,000 1,200,000 1,500,000 1,800,000 2,100,000 2,400,000 2,700,000 3,000,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Facilities Maintenance Current Year Budget Prior Year 0 400,000 800,000 1,200,000 1,600,000 2,000,000 2,400,000 2,800,000 3,200,000 3,600,000 4,000,000 4,400,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Engineering Current Year Budget Prior Year Item 2.1 Packet pg. 35/53 33 GENERAL FUND DEPARTMENT EXPENSE SUMMARY Non-Departmental Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 982,771$ 982,771$ 1,686,468$ 1,686,468$ 71.60% February 1,318,318 335,547 478,150 2,164,618 64.20% March 1,767,509 449,191 392,861 2,557,479 44.69% April 2,131,057 363,549 555,004 3,112,483 46.05% May 2,453,970 322,912 343,299 3,455,783 40.82% June 2,981,104 527,134 742,332 4,198,115 40.82% July 3,297,961 316,857 446,211 4,644,326 40.82% August 3,875,730 577,769 813,638 5,457,964 40.82% September 4,509,750 634,020 892,854 6,350,818 40.82% October 5,207,370 697,620 982,418 7,333,236 40.82% November 5,872,477 665,107 936,631 8,269,867 40.82% December 6,768,912 896,435 1,262,397 9,532,264 40.82% 6,768,912$ City of Edmonds, WA Monthly Expenditure Summary-Non-Departmental 2026 *The monthly budget trend columns are based on a two year trend. 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 Non-Departmental Current Year Budget Prior Year Item 2.1 Packet pg. 36/53 34 FUND SUMMARIES Fund 016 - Building Maintenance Fund Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 154,167$ 154,167$ -$ -$ 0.00% February 308,333 154,167 4,482 4,482 -98.55% March 462,500 154,167 13,663 18,145 -96.08% April 616,666 154,167 77,613 95,757 -84.47% May 770,833 154,167 51,974 147,731 -80.83% June 925,000 154,167 29,546 177,278 -80.83% July 1,079,166 154,167 29,546 206,824 -80.83% August 1,233,333 154,167 29,546 236,370 -80.83% September 1,387,499 154,167 29,546 265,917 -80.83% October 1,541,666 154,167 29,546 295,463 -80.83% November 1,695,833 154,167 29,546 325,009 -80.83% December 1,849,999 154,167 29,546 354,555 -80.83% 1,849,999$ 2026 City of Edmonds, WA Monthly Expenditure Summary-Fund 016 - Building Maintenance Fund *The monthly budget trend columns are based on a two year trend. 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 Fund 016 -Building Maintenance Fund Current Year Budget Prior Year Item 2.1 Packet pg. 37/53 35 FUND SUMMARIES Real Estate Excise Tax 1 & 2 Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 180,699$ 180,699$ 102,307$ 102,307$ -43.38% February 369,890 189,191 170,681 272,988 -26.20% March 620,117 250,227 417,000 689,988 11.27% April 968,775 348,659 306,006 995,994 2.81% May 1,339,598 370,823 321,808 1,317,802 -1.63% June 2,004,973 665,375 654,548 1,972,350 -1.63% July 2,359,988 355,015 349,239 2,321,589 -1.63% August 2,738,388 378,400 372,243 2,693,832 -1.63% September 3,038,181 299,793 294,915 2,988,747 -1.63% October 3,439,573 401,392 394,861 3,383,608 -1.63% November 3,713,484 273,912 269,455 3,653,063 -1.63% December 4,000,000 286,516 281,854 3,934,917 -1.63% 4,000,000$ Fund 512 - Technology Rental Fund Expenses Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 839,016$ 839,016$ 695,433$ 695,433$ -17.11% February 983,800 144,784 108,274 803,707 -18.31% March 1,165,508 181,708 119,702 923,409 -20.77% April 1,316,718 151,209 116,917 1,040,326 -20.99% May 1,506,526 189,808 192,912 1,233,239 -18.14% June 1,655,173 148,647 121,682 1,354,921 -18.14% July 1,872,333 217,160 177,767 1,532,688 -18.14% August 2,040,789 168,456 137,898 1,670,586 -18.14% September 2,227,781 186,992 153,071 1,823,657 -18.14% October 2,409,853 182,073 149,044 1,972,701 -18.14% November 2,572,514 162,661 133,154 2,105,855 -18.14% December 2,782,528 210,014 171,917 2,277,772 -18.14% 2,782,528$ *The monthly budget trend columns are based on a two year trend. City of Edmonds, WA Monthly Revenue Summary-Real Estate Excise Tax 1 & 2 2026 City of Edmonds, WA Monthly Expenditure Summary-Fund 512 - Technology Rental Fund 2026 0 400,000 800,000 1,200,000 1,600,000 2,000,000 2,400,000 2,800,000 3,200,000 3,600,000 4,000,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Real Estate Excise Tax 1 & 2 Current Year Budget Prior Year 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 2,000,000 2,200,000 2,400,000 2,600,000 2,800,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fund 512 -Technology Rental Fund Expenses Current Year Budget Prior Year Item 2.1 Packet pg. 38/53 36 FUND 421 – WATER UTILITY FUND SUMMARY Fund 421 - Water Utility Fund Revenues Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 958,926$ 958,926$ 1,419,376$ 1,419,376$ 48.02% February 1,588,753 629,828 1,133,661 2,553,038 60.69% March 2,517,448 928,694 1,496,423 4,049,460 60.86% April 3,193,768 676,320 1,145,721 5,195,181 62.67% May 4,118,581 924,813 1,513,622 6,708,803 62.89% June 4,874,074 755,494 1,230,632 7,939,435 62.89% July 5,979,594 1,105,520 1,800,793 9,740,228 62.89% August 10,988,128 5,008,534 8,158,458 17,898,687 62.89% September 12,357,871 1,369,743 2,231,190 20,129,876 62.89% October 13,273,924 916,053 1,492,169 21,622,046 62.89% November 14,275,600 1,001,676 1,631,641 23,253,687 62.89% December 15,030,903 755,303 1,230,322 24,484,009 62.89% 15,030,903$ Fund 421 - Water Utility Fund Expenses Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 2,439,280$ 2,439,280$ 933,217$ 933,217$ -61.74% February 3,072,014 632,734 651,481 1,584,698 -48.42% March 3,766,488 694,474 804,949 2,389,647 -36.56% April 4,498,942 732,454 636,371 3,026,018 -32.74% May 5,103,171 604,229 775,221 3,801,240 -25.51% June 6,387,286 1,284,115 956,509 4,757,748 -25.51% July 7,648,612 1,261,326 939,534 5,697,282 -25.51% August 12,384,668 4,736,056 3,527,784 9,225,066 -25.51% September 14,102,790 1,718,122 1,279,791 10,504,857 -25.51% October 15,254,823 1,152,033 858,124 11,362,981 -25.51% November 16,171,171 916,348 682,567 12,045,548 -25.51% December 18,670,058 2,498,887 1,861,366 13,906,914 -25.51% 18,670,058$ *The monthly budget trend columns are based on a two year trend. 2026 City of Edmonds, WA Monthly Revenue Summary-Fund 421 - Water Utility Fund 2026 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 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 Item 2.1 Packet pg. 39/53 37 FUND 422 – STORM UTILITY FUND SUMMARY Fund 422 - Storm Utility Fund Revenues Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 746,538$ 746,538$ 823,415$ 823,415$ 10.30% February 2,428,365 1,681,827 1,622,271 2,445,685 0.71% March 3,174,588 746,222 845,699 3,291,384 3.68% April 3,854,738 680,150 755,651 4,047,035 4.99% May 4,692,537 837,799 816,321 4,863,356 3.64% June 5,366,727 674,190 698,732 5,562,088 3.64% July 6,197,765 831,039 861,290 6,423,379 3.64% August 9,587,263 3,389,498 3,512,884 9,936,263 3.64% September 10,345,345 758,082 785,678 10,721,941 3.64% October 11,382,661 1,037,316 1,075,077 11,797,017 3.64% November 12,130,499 747,838 775,061 12,572,078 3.64% December 12,850,528 720,029 746,240 13,318,318 3.64% 12,850,528$ Fund 422 - Storm Utility Fund Expenses Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 650,741$ 650,741$ 873,709$ 873,709$ 34.26% February 2,116,753 1,466,012 535,481 1,409,190 -33.43% March 2,767,218 650,466 624,830 2,034,020 -26.50% April 3,360,091 592,872 459,832 2,493,853 -25.78% May 4,090,381 730,291 637,083 3,130,935 -23.46% June 4,678,058 587,677 449,830 3,580,766 -23.46% July 5,402,456 724,398 554,482 4,135,248 -23.46% August 8,357,007 2,954,551 2,261,527 6,396,775 -23.46% September 9,017,811 660,804 505,805 6,902,579 -23.46% October 9,922,017 904,205 692,114 7,594,693 -23.46% November 10,573,890 651,874 498,969 8,093,662 -23.46% December 11,201,524 627,634 480,415 8,574,077 -23.46% 11,201,524$ *The monthly budget trend columns are based on a two year trend. City of Edmonds, WA Monthly Revenue Summary-Fund 422 - Storm Utility Fund 2026 City of Edmonds, WA Monthly Expenditure Summary-Fund 422 - Storm Utility Fund 2026 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 Item 2.1 Packet pg. 40/53 38 FUND 423 – SEWER UTILITY FUND SUMMARY Fund 423 - Sewer Utility Fund Revenues Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 1,433,083$ 1,433,083$ 1,606,318$ 1,606,318$ 12.09% February 2,737,085 1,304,002 1,327,273 2,933,591 7.18% March 4,238,410 1,501,325 2,177,582 5,111,173 20.59% April 5,924,788 1,686,378 1,538,395 6,649,568 12.23% May 8,041,804 2,117,016 1,540,760 8,190,328 1.85% June 9,165,000 1,123,196 1,143,940 9,334,268 1.85% July 10,743,639 1,578,639 1,607,795 10,942,063 1.85% August 14,811,596 4,067,957 4,143,088 15,085,151 1.85% September 16,280,297 1,468,701 1,495,827 16,580,977 1.85% October 17,524,918 1,244,621 1,267,607 17,848,585 1.85% November 19,202,434 1,677,516 1,708,498 19,557,083 1.85% December 20,499,448 1,297,014 1,320,968 20,878,051 1.85% 20,499,448$ Fund 423 - Sewer Utility Fund Expenses Cumulative Monthly Monthly YTD Variance Budget Trend Budget Trend Actuals Actuals % January 1,435,495$ 1,435,495$ 2,219,216$ 2,219,216$ 54.60% February 2,409,812 974,316 1,086,260 3,305,476 37.17% March 4,001,259 1,591,447 1,525,922 4,831,398 20.75% April 5,404,144 1,402,886 1,215,793 6,047,191 11.90% May 6,545,404 1,141,260 1,196,913 7,244,105 10.67% June 8,094,395 1,548,991 1,714,341 8,958,446 10.67% July 9,267,395 1,173,000 1,298,214 10,256,660 10.67% August 13,637,317 4,369,922 4,836,397 15,093,057 10.67% September 15,002,543 1,365,226 1,510,959 16,604,016 10.67% October 16,220,047 1,217,504 1,347,469 17,951,485 10.67% November 17,499,493 1,279,446 1,416,023 19,367,507 10.67% December 20,052,059 2,552,566 2,825,044 22,192,552 10.67% 20,052,059$ *The monthly budget trend columns are based on a two year trend. City of Edmonds, WA Monthly Revenue Summary-Fund 423 - Sewer Utility Fund 2026 City of Edmonds, WA Monthly Expenditure Summary-Fund 423 - Sewer Utility Fund 2026 0 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000 22,000,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fund 423 -Sewer Utility Fund Revenues Current Year Budget Prior Year 0 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000 22,000,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Fund 423 -Sewer Utility Fund Expenses Current Year Budget Prior Year Item 2.1 Packet pg. 41/53 City Council Agenda Item 2.2 July 21, 2026 - Finance Committee TITLE:Review of Updated Strategic Outlook (First Reading) DEPARTMENT:Finance PRESENTER:Kisha Post NEEDED FROM COUNCIL:Informational RECOMMENDATION:Information only BUDGET: Total Dollar Amount:0 ☐ Approved in Budget Fund(s):001 ☐ Budget Reallocation Required ☒ No Budget Impact PROBLEM/ISSUE STATEMENT: Providing an updated Strategic Outlook based on the modified assumptions from the July 8 2026 Council Workshop. CONTEXT, ANALYSIS, & ALTERNATIVES: In the Council Workshop we agreed to the following changes to the assumptions made in the Strategic Outlook: Increase of Sales Tax revenue by $500K in 2027 based on current trends in 2026 Sales Tax Revenue Increase the assumption of Year Over Year Sales Tax and Other Sales Tax growth rate from 1% to 2% Increase of the assumption of Year Over Year Interfund Service Charge growth rate from 3% to 5% RECOMMENDATION: Information only BUDGET IMPACTS: For review only. ITEM HISTORY: This document has been reviewed prior to updating in the Council Retreat 5/29/2026 and Council Workshop 7/8/2026. ADDITIONAL INFORMATION: Item 2.2 Packet pg. 42/53 ATTACHMENTS: 2027-2028 Strategic Outlook July 14 2026 Retreat Adjusments Assumptions ONLY Item 2.2 Packet pg. 43/53 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Actual Preliminary Preliminary Mod. Budget Outlook Outlook Outlook Outlook Outlook Outlook Beginning Fund Balance 11,902,952 2,492,460 1,336,346 (2,046,624) 1,583,955 30,981 (4,953,021) (11,903,211) (20,979,717) (32,354,333) Revenue Property Taxes 14,892,420 15,539,114 15,977,461 11,713,393 11,830,527 11,948,832 12,068,321 12,189,004 12,310,894 12,434,003 Retail Sales Taxes 11,740,592 11,817,025 11,937,652 12,200,000 12,444,000 12,693,000 12,947,000 13,206,000 13,470,000 13,739,000 Other Sales Taxes 1,048,637 1,047,150 1,085,190 2,000,000 2,040,000 2,081,000 2,123,000 2,165,000 2,208,000 2,252,000 Utility Taxes 6,942,481 7,233,814 7,945,281 10,852,016 9,714,000 8,531,000 8,872,000 9,227,000 9,596,000 9,980,000 Other Taxes 381,405 383,898 475,010 370,100 378,000 386,000 394,000 402,000 410,000 418,000 Licenses/Permits/Franchise 2,079,139 2,172,559 1,915,202 1,925,050 2,021,000 2,122,000 2,228,000 2,339,000 2,456,000 2,579,000 Construction Permits 82,000 85,506 159,537 40,000 48,000 50,000 53,000 56,000 59,000 62,000 Grants 1,645,889 748,674 317,437 140,653 141,000 141,000 141,000 141,000 141,000 141,000 State Revenues 1,132,378 1,135,872 1,142,335 1,108,000 1,108,000 1,108,000 1,108,000 1,108,000 1,108,000 1,108,000 Charges for Goods & Services 3,993,576 4,822,721 3,807,578 3,119,783 3,213,000 3,309,000 3,408,000 3,510,000 3,615,000 3,723,000 Interfund Service Charges - - - 4,613,564 4,844,000 5,086,000 5,239,000 5,396,000 5,558,000 5,725,000 Fines & Forfeitures 194,371 584,607 2,023,781 2,888,000 2,917,000 2,946,000 2,975,000 3,005,000 3,035,000 3,065,000 Miscellaneous Revenues 2,123,396 2,539,533 1,008,415 838,381 855,000 872,000 889,000 907,000 925,000 944,000 Interfund Loan - - - - - - - - - - Transfers 97,066 465,274 108,822 50,000 40,000 40,000 40,000 40,000 40,000 40,000 Other Financing Sources 3,091,172 Total Revenues 46,353,350 48,575,747 50,994,874 51,858,940 51,593,527 51,313,832 52,485,321 53,691,004 54,931,894 56,210,003 Revenue % Change YOY 5% 5% 2% -1% -1% 2% 2% 2% 2% Expenditures Labor 20,237,110 22,320,181 19,883,376 24,396,229 25,616,000 26,897,000 28,242,000 29,654,000 31,137,000 32,694,000 Benefits 7,089,638 7,738,844 7,000,017 8,560,390 9,431,000 10,380,000 11,314,000 12,332,000 13,442,000 14,652,000 Supplies 829,316 497,284 343,086 662,584 712,000 763,000 786,000 810,000 834,000 859,000 Services 24,937,795 16,188,557 21,893,261 12,712,317 15,485,501 16,716,325 17,552,000 18,430,000 19,352,000 20,320,000 Capital 1,010,936 1,499,837 3,091,172 6,000 6,000 6,000 6,000 6,000 6,000 6,000 Debt Service 466,768 907,158 1,441,932 4,215,841 4,246,000 885,510 885,510 885,510 885,510 885,510 Transfers 1,192,279 580,000 725,000 675,000 650,000 650,000 650,000 650,000 650,000 650,000 Total Expenses 55,763,842 49,731,861 54,377,844 51,228,361 56,146,501 56,297,835 59,435,510 62,767,510 66,306,510 70,066,510 Expense % Change YOY -11% 9% -6% 10% 0% 6% 6% 6% 6% YE Period Adjustment Estimate 3,000,000 3,000,000 Change in Ending Fund Balance (9,410,492) (1,156,114) (3,382,970) 3,630,579 (1,552,974) (4,984,002) (6,950,189) (9,076,506) (11,374,616) (13,856,507) Ending Fund Balance 2,492,460 1,336,346 (2,046,624) 1,583,955 30,981 (4,953,021) (11,903,211) (20,979,717) (32,354,333) (46,210,841) Total Revenues 46,353,350 48,575,747 50,994,874 51,858,940 51,593,527 51,313,832 52,485,321 53,691,004 54,931,894 56,210,003 Total Expenditures 55,763,842 49,731,861 54,377,844 51,228,361 56,146,501 56,297,835 59,435,510 62,767,510 66,306,510 70,066,510 Revenues Less Expenditures (9,410,492) (1,156,114) (3,382,970) 630,579 (4,552,974) (4,984,002) (6,950,189) (9,076,506) (11,374,616) (13,856,507) General Fund (001) 2027-2032 Strategic Outlook Item 2.2 Packet pg. 44/53 City Council Agenda Item 2.3 July 21, 2026 - Finance Committee TITLE:Utility Tax Extension (First Reading) DEPARTMENT:Finance PRESENTER:Kisha Post NEEDED FROM COUNCIL:Input RECOMMENDATION:Input requested from Council. BUDGET: Total Dollar Amount:For discussion ☐ Approved in Budget Fund(s):001 ☐ Budget Reallocation Required ☒ No Budget Impact PROBLEM/ISSUE STATEMENT: The current temporary Utility Tax expires June of 2027. Current forecast for the 2027-2028 Biennium Budget shows a shortfall in revenues to expenses of $4.6M in 2027. The Utility Tax could provide additional revenue and cash flow to reduce this shortfall. CONTEXT, ANALYSIS, & ALTERNATIVES: In 2025 Council implemented a 18 month temporary Utility Tax rate increase from 10% to 20% to provide revenue and cash flow to the General Fund (001). We would like to review with Council the impact and options around extending the Utility Tax rate increase and receive feedback on the length of time we might consider an extension. RECOMMENDATION: Input requested from Council. BUDGET IMPACTS: Extending the temporary Utility Tax could provide additional revenue to reduce the current shortfall forecasted in the General Fund (001). ITEM HISTORY: In 2025 Council implemented a 18 month temporary Utility Tax rate increase from 10% to 20% to provide revenue and cash flow to the General Fund (001). ADDITIONAL INFORMATION: ATTACHMENTS: Additional informational analysis will be provided prior to the meeting. Item 2.3 Packet pg. 45/53 City Council Agenda Item 2.4 July 21, 2026 - Finance Committee TITLE:Fiscal Sustainability Task Force - Discussion on the Anatomy and Choosing of Task Force Participants (First Reading) DEPARTMENT:City Council Office PRESENTER:Michelle Dotsch NEEDED FROM COUNCIL:Input RECOMMENDATION:Council to discuss proposal and decide upon set criteria for Fiscal Sustainability Task Force and the methodology for choosing the best applicants. BUDGET: Total Dollar Amount:0 ☐ Approved in Budget Fund(s):N/A ☐ Budget Reallocation Required ☒ No Budget Impact PROBLEM/ISSUE STATEMENT: The City is in contract with Baker Tilly Advisory Group. Part of the scope of work is to facilitate a volunteer, community based Fiscal Sustainability Task Force. This Taskforce will build a consensus recommendation to advise the City Council on the approach(es) to address the fiscal gap. Council will be responsible for recommending the criteria that will be used to choose the best applicants for the Task Force with Edmonds residents, Edmonds business owners, diverse demographics, and perspectives. Council will need to agree on the anatomy and the selection process for the Taks Force participants. CONTEXT, ANALYSIS, & ALTERNATIVES: The Administration and Council have engaged in substantive discussion about Edmonds long term fiscal outlook. The Fiscal Sustainability Task Force is a vital part of the City Council’s efforts to plan for a healthy fiscal position. This is the proposed make up of the Task Force and the proposed selection process. Council to agree on the criteria and process for choosing the Task Force RECOMMENDATION: Council to discuss proposal and decide upon set criteria for Fiscal Sustainability Task Force and the methodology for choosing the best applicants. BUDGET IMPACTS: None ITEM HISTORY: At a February 6th, 2026 Council retreat, the Mayor, Council, and Directors collaborated to explore priorities for the coming year and beyond, which included community priorities. City Item 2.4 Packet pg. 46/53 Council used that work as a basis to develop their Council Priorities moving forward. Among those priorities: financial stability and economic development, community engagement and transparency. Adherence to Government Finance Officers Association (GFOA) budget planning principles were also highlighted as a best practice. In 2025, the City of Mountlake Terrace engaged Baker Tilly to address structural fiscal challenges and develop a community-inclusive sustainability plan. A February 8, 2026 article in My Edmonds News covering that work — “Government and you: How Mountlake Terrace involved community in addressing City budget deficit” — generated significant interest among Edmonds residents and Councilmembers. March 5th a Special Council meeting was held, and Baker Tilly was invited to present their community engagement process. Council response was positive, reflecting interest in applying a similar approach in Edmonds. Subsequently, at the April 14th 2026 Finance Committee Meeting, where all Councilmembers attended, the draft contract of the Baker Tilly contract and scope of work was shared and discussed, which included the Fiscal Sustainability Taskforce. It was noted that one of the Baker Tilly consultants has a background with GFOA. Baker Tilly’s current scope proposes a three-phase engagement. Phase 1 develops a 10-year long range financial forecast covering the General, Capital Improvement, and Enterprise funds, including analysis of unfunded infrastructure, fleet, and technology needs. Phase 2 identifies and evaluates budget strategies across four dimensions — expenditure controls, service delivery alternatives, revenue enhancements, and service reductions — benchmarked against up to six peer cities. Phase 3 facilitates up to six meetings of a community-based Fiscal Sustainability Task Force, to develop consensus recommendations for presentation to the full Council. This engagement represents a collaborative path toward a sustainable fiscal trajectory that is grounded in rigorous analysis, community inclusion, and a clear framework for near and long-term decision-making. July 14th – Council adopted the Fiscal Sustainability Task Force Charter and Workplan. ADDITIONAL INFORMATION: ATTACHMENTS: Draft – Fiscal Sustainability Task Force Cover Letter to Applicants Draft – Fiscal Sustainability Task Force Application Draft – Fiscal Sustainability Task Force- Choice Ranking System Approach Item 2.4 Packet pg. 47/53 City of Edmonds Fiscal Sustainability Task Force Choice Ranking System Approach Recommendation A practical scoring rubric will be utilized for reviewing applications to the task force. It is built to support a transparent Council appointment process and to help Council assemble a group with local connection, fiscal interest, and a balanced mix of perspectives, while keeping the scoring criteria neutral and consistent. Scoring rubric Use a 100 point scale, with a minimum qualification screen first. Criterion Points What to look for Local Connection 20 Edmonds resident and/or Edmons business owner Interest in fiscal issues 20 Clear motivation to work on city budget, service, tax, or sustainability questions Relevant experience or knowledge 20 Finance, accounting, budgeting, public administration, economics, operations, service delivery, or related expertise Perspective diversity contribution 15 Adds a viewpoint not already overrepresented in the applicant pool, such as renter, homeowner, lower-wage worker, small business owner, younger adult, senior, neighborhood diversity, or service- user perspective Collaboration and communication 10 Willingness to listen, deliberate respectfully, and work toward consensus Scoring scale Use the same 0-5 scale for each criterion, then multiply the points assigned. 0 = No evidence 1 = Very limited evidence 2 = Some evidence 3 = Adequate evidence 4 = Strong evidence 5 = Exception evidence For example, in an applicant scores 4/5 on “Relevant experience or knowledge” they receive 16 – 20 points Item 2.4 Packet pg. 48/53 Qualification screen Before scoring, confirm that the applicant: Is a local resident or business owner Has submitted the full application by the deadline Is willing to serve for the full term and attend participation Has no obvious conflict that would prevent constructive participation Suggested reviewer guidance To keep the process consistent, define what “good” looks like for each category. Interest in fiscal issues 5 points: Specific, thoughtful explanation of why they want to help with budget/service sustainability 3 points: General civic interest 1 point: Minimal explanation Relevant experience or knowledge 5 points: Deep professional or volunteer experience in finance, budgeting, public service, operations, or related analysis 3 points: Some relevant exposure 1 point: little to none, but still possibly useful if balanced by other strengths Perspective diversity contribution 5 points: Brings a clearly different perspective from most other applicants and helps broaden the group’s lived experience 3 points: Some scheduling limitations, but still workable 1 point: Unclear to significant limitations How to use it A strong workflow is 1. Council Executive Assistant checks applications for completeness 2. Councilmembers score independently using the same rubric 3. Scores are averaged to reach a final recommendation 4. The group prepares a shortlist that intentionally balances the final membership across resident, business ownership, age, housing status, income experience, and fiscal background. DIFFICULT TO DO each individually – how to break a tie? 5. Council appoints the final task force members in open session Item 2.4 Packet pg. 49/53 City of Edmonds Fiscal Sustainability Task Force Dear Fiscal Sustainability Task Force Candidate, Thank you for your interest and consideration for participation in the Fiscal Sustainability Task Force. About the Task Force The Fiscal Sustainability Task Force (FST) is an advisory body composed of community members tasked with recommending strategies to help ensure the City of Edmonds’ long-term fiscal sustainability. Task Force members will engage in learning, deliberation, and analysis, resulting in a set of short- and long- term budget strategy recommendations for City Council’s consideration. The Task Force will meet in person at least once per month, with an anticipated duration of approximately 6–9 months (estimated start: Fall of 2026). Members serve in a voluntary capacity. Meetings will be facilitated by Baker Tilly with support from City staff. The City is seeking 11–15 members. No specific professional credentials are required. The Task Force aims to include people with a range of experiences, backgrounds, and community connections — including but not limited to expertise in finance, budgeting, public policy, business, urban planning, nonprofits, and community engagement. Applicant Criteria Edmonds resident or Edmonds business owner Demonstrated interest in city finance, budgeting, service delivery, or public policy Relevant professional or lived experience Ability to attend monthly meetings and work constructively in a group Contribution to a mix of perspectives across varied demographics including age, housing status, income background, and neighborhood/business sectors Applications will be accepted from July 30 through August 17, 2026 at 5:00 PM. Chosen applicants are anticipated to be notified by early Fall. Eligibility Notice The following individuals are not eligible to serve on the Fiscal Sustainability Task Force: Current elected officials; Current City employees or contractors; or Relatives or domestic partners of a current elected official or City employee. Item 2.4 Packet pg. 50/53 City of Edmonds Fiscal Sustainability Task Force Application for Membership _____________________________________________________________________________________ SECTION 1 — CONTACT INFORMATION Full Name: Physical Address: City, State, Zip: Email Address: Daytime Phone: Evening / Cell Phone: _____________________________________________________________________________________ SECTION 2 — EDMONDS CONNECTION The Task Force Charter requires that members be Edmonds residents or Edmonds business owners. Please answer the following. 1. Do you currently reside within the Edmonds city limits? □ Yes □ No If yes, approximately how long have you lived in Edmonds? □ Less than 2 years □ 2–5 years □ 6–10 years □ More than 10 years 2. Do you own or operate a business located within the Edmonds city limits? □ Yes □ No If yes, please briefly describe the business and your role: 3. Do you work in Edmonds for an employer other than a business you own? □ Yes □ No 4. Please describe any other connection you have to the Edmonds community (e.g., civic involvement, community organizations, local institutions): Item 2.4 Packet pg. 51/53 SECTION 3 — AVAILABILITY AND COMMITMENT The Task Force Charter requires members to commit to attending at least one meeting per month, held in person at Edmonds City Hall, anticipated to run from Fall 2026 through Spring 2027 (approximately 6– 9 months). Meeting dates will be confirmed with selected participants to identify the best schedule. 1. Can you commit to attending at least one evening meeting per month, preferably in person, at Edmonds City Hall for the anticipated duration of the Task Force (approximately fall 2026 through Spring 2027)? □ Yes □ No □ I have questions or limited availability — please explain below If you selected “No” or “I have questions,” please explain: 2. Is there anything else about your availability or schedule the City should be aware of? ____________________________________________ SECTION 4 — BACKGROUND, SKILLS, AND INTEREST Please provide a statement explaining your interest in serving on the Fiscal Sustainability Taskforce. Please include any skills that you think would be valuable to the group such as a passion for civic matters and community engagement; good communication / collaboration / consensus building skills; strategic thinking; analytical skills; financial skills, ability to evaluate efficiencies, experience working on committees, boards, or commissions. Item 2.4 Packet pg. 52/53 SECTION 5 — ELIGIBILITY CERTIFICATION AND SIGNATURE Please read and CHECK all boxes that apply I am not a current elected official. I am not a current City of Edmonds employee or contractor. I am not a relative or domestic partner of a current elected official or City of Edmonds employee. The information I have provided in this application is true and complete to the best of my knowledge. Signature: ___________________________________ Date: ____________________ ____________________________________________ Submission Instructions Applications will be accepted from July 30 through August 17, 2026 at 5:00 PM. Chosen applicants are anticipated to be notified by early Fall. Please return this completed form to: Teresa Simanton Legislative Executive Assistant to the Edmonds City Council Edmonds City Hall | 121 5th Avenue North | Edmonds, WA 98020 Email: Teresa.simanton@edmondswa.gov Phone: 425.570.4400 For questions about the Task Force or the application process, please contact Teresa Simanton, Legislative Executive Assistant to the Edmonds City Council at the above email and/or phone number. *Please note: Public Records Notice: This application is a public record and may be subject to disclosure upon request Item 2.4 Packet pg. 53/53