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2021-08-10 City Council - Full FIN Agenda-29301 o Agenda Edmonds City Council FINANCE COMMITTEE - ZOOM VIRTUAL ONLINE MEETING EDMONDS CITY COUNCIL MEETINGS WEB PAGE, HTTP://EDMONDSWA.IQM2.COM/CITIZENS/DEFAULT.ASPX, EDMONDS, WA 98020 AUGUST 10, 2021, 6:00 PM COUNCIL COMMITTEE MEETINGS ARE HELD VIRTUALLY USING THE ZOOM MEETING PLATFORM. TO VIEW OR LISTEN TO THE COMMITTEE MEETING IN ITS ENTIRETY, PASTE THE FOLLOWING INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM. US/J/95798484261 OR JOIN BY DIAL -UP PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 COUNCIL COMMITTEE MEETINGS ARE WORK SESSIONS FOR THE COUNCIL AND CITY STAFF. COMMITTEE MEETING AGENDAS DO NOT INCLUDE AUDIENCE COMMENTS OR PUBLIC HEARINGS. CALL TO ORDER COMMITTEE BUSINESS 1. June 2021 Quarterly Financial Report (10 min) 2. PFD Financial Presentation (30 min) 3. City of Edmonds Facility Condition Assessment update by Mckinstry (15 min) ADJOURN Edmonds City Council Agenda August 10, 2021 Page 1 2.1 City Council Agenda Item Meeting Date: 08/10/2021 June 2021 Quarterly Financial Report Staff Lead: Dave Turley Department: Administrative Services Preparer: Sarah Mager Background/History N/A Staff Recommendation Review and move to full council on consent Narrative June 2021 Quarterly Financial Report Attachments: Complete June 2021 Quarterly Financial Report Pres to Finance Committee August 10 Jan -June 2021 P&L Packet Pg. 2 2.1.a INSIDE THIS ISSUE: Summary of Operating Funds: Revenues Revenues By Fund 1 This report is a summary of the City's preliminary Summary operating results for the two quarters ended June 30,2021. Expenditures By Fund Summary General Fund Revenues Expenditures By Fund Detail Gen. Fund Depart- ment Expenditures Investment Portfolio Fund Balance Overview Right. Cases and hospitalizations are once again increasing, and authorities fear that a new vari- ant may become prevalent enough to have impacts to our lives and economy that are as great or great- er than what we have experienced thus far over the last year and a half Revenue Update: 2 As the coronavirus pandemic contin- ues, more people have been vaccinat- ed against COVID-19, and govern- 3 ment-provided stimulus plans have contributed to a significant economic recovery nationwide. Our regional 6 economy, including our City, contin- ues to exceed expectations. Howev- er, not enough people have been vac- cinated to successfully slow the pan- 12 demic, and as a result a new "Delta variant" is becoming prevalent. This casts our economic recovery in doubt 32 and brings more uncertainty to our revenue forecasts. 34 Six month General Fund revenues of $22.9 million are 4% ahead of budget. The largest contributor to this is from sales tax collections that are $1 million ahead of this time last United States All time 150,000 100,000 50,000 year, and $500,000 ahead of budget. Due to a currently strong local and regional economy, virtually all tax collections are ahead of last year's pace, as well as ahead of budget. (pages 1 - 3). Revenues by Category: General Fund revenues for the six months ended June 30, 2021 are higher than 2020 in the categories of Taxes, Intergovern- mental Revenues, Charges for Goods and Services, Fines and Penalties, and Other Miscellaneous revenues. General Fund revenues are lower than last year at this time only in the category of Licenses and Permits. A more detailed breakdown of infor- mation for City revenues can be found be- ginning on page 3. Jul 31, 2021 7-day average People hospitalized 39,560 People in ICU 10,264 Jul 15 Sep 30 Dec 9 Feb 17 May 1 Jul Preliminary Financial Management Report as of June 3Q- 2021 Packet Pg. 3 Top: A contract for th construction of Civ- ic Field was ap- proved in early 2021, with ground- breaking scheduled to begin in late July or early August. Construction will rtnntinna t�rroirt� The 2021 Primary Elections were held on August 3,with three City Council seats up for grabs Summary of Operating Funds: Expenditures General Fund ex - penditures for six months are $1.9 mil- lion or 8% under the budgeted amount, and are nearly identical to this time last year. IGeneral Fund expens- es by sub -fund and Iline item categories are on page 6 and ex- penses by department are on pages 13-16. Every department in the General Fund is Ireasonably where ex- pected after six months, and the Gen- eral Fund as a whole has spent 46% of its annual budget. This same information can be found graphical form on pages 23-31. in the annual expenditure budget for those funds. Special Revenue Funds during the Other City Highlights year have spent only 30% of their an- The Washington State Auditor's Office nual expense budget. This is ex- recently concluded the annual financial pected, as the majority of the under- audit of the City. We intend to submit the spending comes from REET funds, City's audited annual report to the Gov - which at 50% of the way through the ernment Finance Officers Association for have spent only 16% of their an- consideration for the Certificate of Iyear nual allotment. This will change Achievement for Excellence in Finan- soon, as significant capital project cial Reporting. If successful, this would spending is scheduled to begin during be the eighth consecutive year we have the summer months, including the earned this prestigious award. long-awaited construc- tion of Civic Field. Additional Special Revenue Fund ex- penditure information ELECTION can be found on pages 6-8. Awk IThe total fund balance for the General Fund and Sub -funds at June 30 is $18.9 million, or approximately 40% of l It I Preliminary Financial Management Report as of June 3 Packet Pg. 4 I 2.1.a I Page 1 of 1 C ITY OF EDMO NDS REVENUES BY FUND - SUMMARY Fund 2021 Amended 6/30/2020 6/30/2021 Amount No. Title Budget Revenues Revenues Remaining %Receive 001 GENERAL FUND $ 42,450,777 $ 19,628,003 $ 22,872,014 $ 19,578,763 54 009 LEOFF-MEDICAL INS. RESERVE 300,000 212,500 - 300,000 0 012 CONTINGENCY RESERVE FUND 2,620 - 2,620 0 014 HISTORIC PRESERVATION GIFT FUND 5,010 2,500 2,500 2,510 50 O 104 DRUG ENFORCEMENT FUND 165,370 63,538 1,397 163,973 1 m Ill STREET FUND 1,722,360 918,085 917,170 805,190 53 cv 112 COMBINED STREET CONS'T/IMPROVE 3,068,385 1,337,928 1,116,918 1,951,467 36 117 MUNICIPAL ARTS ACQUIS. FUND 165,060 25,592 24,688 140,372 15 118 MEMORIAL STREET TREE 270 227 380 (110) 141 L+ 120 HOTEL/MOTEL TAX REVENUE FUND 71,460 32,526 26,546 44,914 37 121 EMPLOYEE PARKING PERMIT FUND 25,240 10,143 10,360 14,880 41 R O 122 YOUTH SCHOLARSHIP FUND 1,390 153 260 1,130 19 Cy 123 TOURISM PROMOTIONAL FUND/ARTS 24,000 10,926 9,981 14,019 42 N 1 125 REAL ESTATE EXCISE TAX 2 1,282,050 650,150 1,219,196 62,854 95 126 REAL ESTATE EXCISE TAX 1 1 1,285,240 647,413 1,211,916 73,324 94 127 GIFTS CATALOG FUND 103,930 44,582 39,696 64,234 38 O 130 CEMETERY MAINTENANCE/IMPROVEMT 179,800 71,936 124,765 55,035 69 Q- N 136 PARKS TRUST FUND 2,200 1,871 3,131 (931) 142 2 137 CEMETERY MAINTENANCE TRUST FD 29,220 17,567 31,778 (2,558) 109 138 SISTER CITY COMMISSION 10,120 2,616 2,695 7,425 27 = 140 BUSINESS IMPROVEMENT DISTRICT 79,239 41,616 55,440 23,799 70 L 141 AFFORDABLE AND SUPPORTIVE HOUSINGFUND 65,000 32,334 32,633 32,367 50 L a) 231 2012 LT GO DEBT SERVICE FUND 759,710 47,291 40,853 718,857 5 to O 332 PARKS CAPITAL CONSTRUCTION FUND 1,392,520 576,652 403,147 989,373 29 T- 411 COMBINED UTILITY OPERATION - 30,710 5,320 (5,320) 0 N N 421 WATER UTILITY FUND 10,299,357 4,537,881 4,750,644 5,548,713 46 a) c 422 STORM UTILITY FUND 2 6,265,225 2,975,121 3,518,958 2,746,267 56 423 SEWER/WWTP UTILITY FUND 3 31,130,450 6,682,837 11,905,781 19,224,669 38 d d 424 BOND RESERVE FUND 1,985,870 616,549 600,422 1,385,448 30 E 511 EQUIPMENT RENTAL FUND 1,331,100 835,498 771,931 559,169 58 V 512 TECHNOLOGY RENTAL FUND 1,204,880 600,752 613,153 591,727 51 = m 617 FIREMEN'S PENSION FUND 67,270 53,140 67,270 0 E z $ 105,475,123 $ 40,708,636 $ 56,260,373 $ 49,214,750 53 v ca 1 2021 REET revenues are $1,089,466 higher than 2020 revenues. 2 Difference primarily due to a Grant reimbursement in January 2021, as well as 2021 storm rate increase of 5% 3 Differences primarily due to WWTP billings to their partners in January 2021. 1 Packet Pg. 5 I 2.1.a I Page 1 of 1 C ITY O F EDMO NDS EXPENDITURES BY FUND - SUMMARY Fund 2021 Amended 6/30/2020 6/30/2021 Amount No. Title Budget Expenditures Expenditures Remaining %Spent 001 GENERAL FUND $ 45,978,718 $ 21,049,664 $ 21,115,256 $ 24,863,462 469 009 LEOFF-MEDICAL INS. RESERVE 467,140 152,182 146,122 321,018 310, 014 HISTORIC PRESERVATION GIFT FUND 5,900 - - 5,900 04 016 BUILDING MAINTENANCE FUND 210,222 - 210,222 04 017 MARSH RESTORATION & PRESERVATION FUND 20,000 16,149 3,851 819 C 018 EDMONDS HOMELESSNESS RESPONSE FUND 123,581 123,581 - 1009 d w 019 EDMONDS OPIOID RESPONSE FUND 28,445 - 28,445 - 1009 <0 104 DRUG ENFORCEMENT FUND 45,800 25,966 - 45,800 09 U 111 STREET FUND 2,187,430 1,128,111 1,105,696 1,081,734 519 112 COMBINED STREET CONST/IMPROVE 2,862,297 562,208 995,087 1,867,210 359 L+ 117 MUNICIPAL ARTS ACQUIS. FUND 236,880 12,359 18,016 218,864 89 120 HOTEL/MOTEL TAX REVENUE FUND 87,150 29,348 24,303 62,847 289 R 7 121 EMPLOYEE PARKING PERMIT FUND 26,880 - - 26,880 09 Cl 122 YOUTH SCHOLARSHIP FUND 3,000 450 - 3,000 09 NN 123 TOURISM PROMOTIONAL FUND/ARTS 29,900 2,223 - 29,900 04 � 125 REAL ESTATE EXCISE TAX 2 1,601,298 768,193 160,981 1,440,317 109 M 7 126 REAL ESTATE EXCISE TAX 1 2,053,911 955,798 439,724 1,614,187 219 127 GIFTS CATALOG FUND 100,900 38,848 32,879 68,021 330, p sZ 130 CEMETERY MAINTENANCE/IMPROVEMT 200,998 77,496 117,703 83,295 599 !Y 136 PARKS TRUST FUND 50,000 - - 50,000 09 137 CEMETERY MAINTENANCE TRUST FUND 25,000 - 25,000 09 ca 138 SISTER CITY COMMISSION 11,900 11 - 11,900 04 LL 140 BUSINESS IMPROVEMENT DISTRICT 76,340 33,697 20,636 55,704 279 >, L 231 2012 LT GO DEBT SERVICE FUND 759,700 47,291 40,853 718,847 59 4) 332 PARKS CAPITAL CONSTRUCTION FUND 5,552,490 657,180 225,719 5,326,771 49 421 WATER UTILITYFUND 10,760,050 4,878,748 3,602,271 7,157,779 339 422 STORM UTILITY FUND 7,293,890 4,060,143 2,235,061 5,058,829 319 Np N 423 SEWER/WWTP UTILITY FUND 40,492,284 5,674,797 12,080,851 28,411,433 309 N C 424 BOND RESERVE FUND 1,985,870 616,542 600,417 1,385,453 309 511 EQUIPMENT RENTAL FUND 1,429,954 439,356 623,977 805,977 449 N 512 TECHNOLOGY RENTAL FUND 1,257,909 540,328 519,736 738,173 410, m p 617 FIREMEN'S PENSION FUND 96,167 45,056 43,148 53,019 459 0 $ 126,062,004 $ 41,795,994 $ 44,316,612 $ 81,745,392 351 +; 2 Packet Pg. 6 2.1.a Page 1 of 3 C ITY O F IDMO NDS REVENUES - GENERAL FUND 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Revenues Revenues Remaining %Received TAXES: 1 REAL PERSONAL / PROPERTY TAX 4 2 EMS PROPERTY TAX 4 3 VOTED PROPERTY TAX 4 LOCAL RETAIL SALES/USE TAX 5 5 NATURAL GAS USE TAX 6 1/10 SALES TAX LOCAL CRIM JUST 7 ELECTRIC UTILITY TAX 8 GAS UTILITY TAX 9 SOLID WASTE UTILITY TAX 10 WATERUTILITY TAX 11 SEWERUTILITYTAX 12 STORMWATER UTILITY TAX 13 T.V. CABLE UTILITY TAX 14 TELEPHONE UTILITY TAX 15 PULLTABS TAX 16 AMUSEMENT GAMES 17 LEASEHOLD EXCISE TAX $ 10,936,400 $ 5,253,558 $ 5,748,063 $ 5,188,337 53% 4,137,031 2,051,232 2,266,601 1,870,430 55% 500 13 1 499 0% 8,600,000 3,761,924 4,797,214 3,802,786 56% 7,600 4,048 5,808 1,792 76% 828,500 372,180 449,520 378,980 54% 1,710,000 970,402 987,183 722,817 58% 595,000 430,775 453,419 141,581 76% 364,000 183,318 184,535 179,465 51% 1,153,000 415,329 418,145 734,855 36% 894,600 366,461 449,296 445,304 50% 471,900 210,737 264,818 207,082 56% 722,000 403,384 400,616 321,384 55% 723,000 361,422 274,873 448,127 38% 55,200 33,660 38,156 17,044 69% 350 367 143 207 41% 295,900 147,475 143,456 152,444 48% 31,4949981 14,966,286 16,881,848 14,6139133 54% LICENSES AND PERMITS: 18 FIRE PERMITS -SPECIAL USE 250 315 400 (150) 160% 19 POLICE - FINGERPRINTING 700 80 - 700 0% 20 VENDING MACHINE/CONCESSION 50,000 915 17,560 32,440 35% 21 FRANCHISE AGREEMENT -COMCAST 702,700 343,270 335,040 367,660 48% 22 FRANCHISE FEE-EDUCATION/GOVERNMENT 41,000 20,271 19,150 21,850 47% 23 FRANCHISE AGREEMENT-ZIPLY FIBER 100,600 39,115 32,964 67,636 33% 24 OLYMPIC VIEW WATER DIST RICT FRANCHISE 434,000 174,817 186,343 247,657 43% 25 GENERAL BUSINESS LICENSE 201,000 115,594 121,077 79,923 60% 26 DEV SERV PERMIT SURCHARGE 58,700 33,265 43,550 15,150 74% 27 RIGHT OF WAY FRANCHISE FEE 30,000 - 14,440 15,560 48% 28 BUILDING STRUCTURE PERMITS 650,600 409,046 381,670 268,930 59% 29 ANIMAL LICENSES 22,000 8,089 8,388 13,612 38% 30 STREET AND CURB PERMIT 50,000 70,922 33,341 16,659 67% 31 OTRNON-BUSLICTERMITS 20,000 8,468 9,284 10,716 46% 2,361,550 1,224,166 1,203,207 1,158,343 51% INTERGOVERNMENTAL: 32 DOCKSIDE DRILLS GRANT REIMBURSE - 559 - - 0% 33 DOJ 15-0404-0-1-754 - BULLET PROOF VEST 6,000 2,052 6,464 (464) 108% 34 TARGET ZERO TEAMS GRANT 4,000 - - 4,000 0% 35 HIGH VISIBILITY ENFORCEMENT 7,100 - 916 6,184 13% 36 CORONAVIRUS RELIEF FUND 2 - - 3,947 (3,947) 0% 37 WA STATE TRAFFIC COMM GRANT - - 3,448 (3,448) 0% 38 DOC FAC ROOFING - - 379,270 (379,270) 0% 39 WA STATE ART COMMISSION 2021-003-CD - - 6,000 (6,000) 0% 40 STATE GRANTS- BUDGET ONLY 198,000 - - 198,000 0% 41 PUD PRIVILEDGE TAX 210,500 - 210,500 0% 42 ARCHIVES AND RECORDS MANAGEMENT - 3,829 - 0% 43 SCHOOL ZONE - 825 - - 0% 44 CJ - POPULATION 13,070 6,393 6,757 6,313 52% 45 TRIAL COURT IMPROVEMENT 16,740 8,076 8,070 8,670 48% 46 CRIMINAL JUSTICE -SPECIAL PROGRAMS 45,600 22,946 24,120 21,480 53% 47 MARIJUANA EXCISE TAX DISTRIBUTION 60,000 32,974 35,791 24,209 60% 48 DUI - CITIES 4,500 2,766 3,335 1,165 74% 49 FIRE INS PREMIUM TAX - - 53,334 (53,334) 0% 50 LIQUOR EXCISE TAX 261,500 120,972 146,188 115,312 56% 51 LIQUOR BOARD PROFITS 343,200 169,254 167,820 175,380 49% 52 FIRST RESPONDERS FLEX FUND 2,000 3,057 - 2,000 0% 53 DISCOVERY PROGRAMS TECHNOLOGY ACQ. 550 - - 550 0% 54 INTERLOCAL GRANTS - - 27,216 (27,216) 0% 55 VERDANT INTERLOCAL GRANTS - - 66,000 (66,000) 0% 1,172,760 373,701 938,675 234,085 80% 4 2021 Real Personal/Property Taxis $494,505 higher than 2020, and EMS Property Taxis $215,369 higher for total of $709,874. 5 2021 Local Retail Sa/es Use Tax revenues are $1,035,290 higher than 2020 revenues. Please also see pages pages 18 & 19. O C. d w C O C IL L d R 7 Cl T_ N O N O C 7 Packet Pg. 7 1 I 2.1.a I Page 2 of 3 CITY OF EDMO NDS REVENUES - GENERAL FUND 2021 Amended 6/30/2020 Title Budget Revenues CHARGES FOR GOODS AND SERVICES: 1 RECORD/LEGAL INSTRUMENTS 2 ATM SURCHARGE FEES 3 CREDIT CARD FEES 4 COURT RECORD SERVICES 5 D/M COURT REC SER 6 DRE REIMBURSEABLE 7 WARRANT PREPARATION FEE 8 IT TIME PAY FEE 9 MUNIC.-DIST. COURT CURR EXPEN 10 SALE MAPS & BOOKS 11 CLERKS TIME FOR SALE OF PARKING PERMITS 12 BID SUPPLIES REIMBURSEMENT 13 PHOTOCOPIES 14 POLICE DISCLOSURE REQUESTS 15 ENGINEERING FEES AND CHARGES 16 ELECTION CANDIDATE FILINGFEES 17 CUSTODIAL SERVICES(SNO-ISLE) 18 PASSPORTS AND NATURALIZATION FEES 19 POLICE SERVICES SPECIAL EVENTS 20 CAMPUS SAFETY-EDM. SCH. DIST. 21 WOODWAY-LAW PROTECTION 22 MISCELLANEOUS POLICE SERVICES 23 FIRE DISTRICT #1 STATION BILLINGS 24 LEGAL SERVICES 25 ADULT PROBATION SERVICE CHARGE 26 BOOKING FEES 27 FIRE CONSTRUCTION INSPECTION FEES 28 EMERGENCY SERVICE FEES 29 EMS TRANSPORT USER FEE 30 FLEX FUEL PAYMENTS FROM STATIONS 31 ANIMAL CONTROL SHELTER 32 ZONING/SUBDIVISION FEE 33 PLAN CHECKING FEES 34 FIRE PLAN CHECK FEES 35 PLANNING 1 % INSPECTION FEE 36 S.E.P.A. REVIEW 37 CRITICAL AREA STUDY 38 GYM AND WEIGHTROOM FEES 39 PROGRAM FEES 6 40 TAXABLE RECREATION ACTIVITIES 41 WINTER MARKET REGISTRATION FEES 42 UP TOWN EVENING MARKET FEES 43 BIRD FEST REGISTRATION FEES 44 INTERFUND REIMBURSEMENT -CONTRACT SVCS 6/30/2021 Amount Revenues Remaining % Received $ 3,000 $ 2,218 $ 3,250 $ (250) 1080/( 600 37 59 541 100/( 11,000 3,973 2,813 8,188 260/( 150 7 2 148 10/( 300 47 - 300 00/c - 235 168 (168) 00/( 4,000 2,161 98 3,902 20/( 1,000 382 340 660 340/( 50 13 90 (40) 1810/( d 100 9 - 100 00/( w 25,100 - - 25,100 00/( 600 - - 600 00/c .v 1,000 373 165 835 160/( 500 - - 500 00/c 200,000 156,560 133,491 66,509 670/( M 1,400 - - 1,400 0% >+ 85,000 47,873 35,542 49,458 420/( d 10,000 5,795 - 10,000 00/( 30,000 - - 30,000 00/( 76,800 36,753 - 76,800 0% CY 195,000 99,430 153,619 41,381 790/( N - 21 - - 00/( o 57,000 34,273 33,108 23,892 580/( 1,050 325 309 741 290/( 38,000 19,272 17,331 20,669 460/( 3,000 1,448 599 2,401 200/, " 10,000 12,579 13,522 (3,522) 1350/( 3,500 1,870 1,355 2,145 390/( Q. 1,007,500 504,820 465,101 542,399 460/( 2,500 1,551 1,727 773 690/( 50 - - 50 00/( v 65,600 44,400 56,253 9,348 861/1( C 350,900 147,519 268,787 82,113 770/( 4,000 12,126 7,735 (3,735) 193% ji 500 - 158 342 320/( 3,000 1,480 2,960 40 990/( 14,000 9,212 8,800 5,200 630/( 15,500 3,083 - 15,500 00/, 900,662 93,767 272,442 628,220 300/( 1,300 - - 1,300 00/( N 5,000 1,110 2,820 2,180 560/( N - - 1,060 (1,060) 00/( y 800 - - 800 0°/ r- 2,892,106 1,402,370 1,697,495 1,194,611 590/( n 6,021,568 2,647,090 3,181,196 2,840,372 53% 4 6 2021 Parks & Recreation Program Revenues are $178,675 higher than 2020 revenues. 4 Packet Pg. 8 1 2.1.a Page 3 of 3 CITY OF EDMO NDS REVENUES - GENERAL FUND 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Revenues Revenues Remaining %Received FINES AND PENALTIES: 1 PROOF OF VEHICLE INS PENALTY 2 TRAFFIC INFRACTION PENALTIES 3 NC TRAFFIC INFRACTION 4 CRT COST FEE CODE LEG ASSESSMENT (LGA) 5 NON -TRAFFIC INFRACTION PENALTIES 6 OTHERINFRACTIONS'04 7 PARKING INFRACTION PENALTIES 8 PARK/INDDISZONE 9 DWI PENALTIES 10 DUI - DP ACCT 11 CRIM CNV FEE DUI 12 DUI - DP FEE 13 CRIMINAL TRAFFIC MISDEMEANOR 8/03 14 CRIMINAL CONVICTION FEE CT 15 CRIM CONV FEE CT 16 OTHER NON-T RAF MISDEMEANOR PEN 17 OTHER NON TRAFFIC MISD. 8/03 18 COURT DV PENALTY ASSESSMENT 19 CRIMINAL CONVICTION FEE CN 20 CRIM CONV FEE CN 21 PUBLIC DEFENSE RECOUPMENT 22 BANK CHARGE FOR CONV. DEFENDANT 23 COURT COST RECOUPMENT 24 BUS. LICENSE PERMIT PENALTY 25 MISC FINES AND PENALTIES MISCELLANEOUS: 26 INVESTMENT INTEREST 27 INTEREST ON COUNTY TAXES 28 INTEREST - COURT COLLECTIONS 29 SP ACETACILIT IES RENTALS 30 BRACKET ROOM RENTAL 31 LEASESLONG-TERM 32 DONATION/CONTRIBUTION 33 PARKSDONATIONS 34 BIRD FEST CONTRIBUTIONS 35 POLICE CONTRIBUTIONS FROM PRIV SOURCES 36 SALE OF JUNK/SALVAGE 37 SALES OF UNCLAIM PROPERTY 38 CONFISCATED AND FORFEITED PROPERTY 39 OTHER JUDGEMENT/SETTLEMENT 40 POLICE JUDGMENTSIRESTITUTION 41 CASHIERS OVERAGES✓SHORTAGES 42 OTHER MISC REVENUES 43 SMALL OVERPAYMENT 44 NSF FEES - PARKS & REC 45 NSF FEES - POLICE 46 NSF FEES - MUNICIPAL COURT 47 NSF FEES - DEVEL SERV DEPT 48 US BANK REBATE TRANSFERS -IN: 49 OPERATING TRANSFER -IN 50 INTERFUND TRANSFER FROM FUND 018 51 TRANSFER FROM FUND 127 $ 2,000 $ 536 $ 1,521 $ 479 760/( 230,000 57,355 104,405 125,595 450/( 18,000 6,589 6,036 11,964 340/( 10,000 4,861 7,884 2,116 790/( 1,000 200 203 797 200/( 1,500 503 913 587 610/( 100,000 39,103 31,322 68,678 310/( 2,000 405 250 1,750 130/( 7,000 4,812 3,996 3,004 570/( 300 125 73 227 240/( 100 33 59 41 590/( 1,500 1,160 1,034 466 690/( 25,000 10,751 9,044 15,956 360/( 2,000 1,102 1,098 902 5501( 700 265 53 647 80/( 100 37 12 88 120/( 10,000 5,120 764 9,236 80/( 800 473 115 685 140/( 1,000 457 130 870 130/( 200 82 64 136 320/( 8,000 4,102 3,112 4,888 390/( 14,000 4,441 4,598 9,402 330/( 3,000 1,069 1,047 1,953 350/( 10,100 - - 10,100 00/( 150 - 187 (37) 1250/( 448,450 143,579 177,919 270,531 405/, 155,090 130,726 167,505 (12,415) 1080/( 9,980 8,925 4,169 5,811 420/( 3,400 4,246 4,784 (1,384) 1410/( 153,000 19,641 31,377 121,623 210/( 2,100 380 - 2,100 00/( 205,000 75,559 96,605 108,395 470/( 2,500 160 - 2,500 0°/ 3,500 920 - 3,500 0°/ 2,000 535 500 1,500 250/( 5,000 100 3,503 1,497 700/( 300 - 130 170 430/( 3,000 - 3,340 (340) 1110/( 2,000 - - 2,000 00/( 2,000 1,344 102 1,898 501( 200 208 50 150 250/( - 16 19 (19) 00/c 5,000 6,611 4,722 278 940/( 100 18 49 51 490/( 100 - 30 70 300/( - - 30 (30) 00/c 150 107 150 00/( - 30 - - 00/( 8,500 5,754 7,079 1,421 830/( 562,920 255,281 323,994 238,926 580% 238,667 - 28,445 210,222 120/( 123,581 - 123,581 0 1000/( 26,300 17,900 13,150 13,150 5001( 388,548 17,900 165,176 223,372 430% TOTAL GENERAL FUND REVENUE $ 42,450,777 $ 19,628,003 $ 22,872,014 $ 19,578,763 540% 5 Packet Pg. 9 I 2.1.a I Page 1 of 6 CITY OF EDMONDS EXPENDITURES BY FUND - DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent GENERAL FUND EXPENDITURES (001) 1 SALARIES AND WAGES $ 17,545,152 $ 8,216,712 $ 8,528,330 $ 9,016,822 49 2 OVERTIME 491,580 271,204 284,859 206,721 58 3 HOLIDAY BUY BACK 281,329 1,450 3,558 277,771 1 4 BENEFITS 6,780,322 3,142,267 3,202,942 3,577,380 47 5 UNIFORMS 89,151 58,130 34,831 54,320 39 6 SUPPLIES 401,115 239,376 210,207 190,908 52 7 FUEL CONSUMED - - 17 (17) 0 8 SMALL EQUIPMENT 108,603 57,597 81,188 27,415 75 9 PROFESSIONAL SERVICES 15,037,824 6,290,476 6,395,092 8,642,732 43 10 COMMUNICATIONS 160,995 72,064 80,818 80,177 50 11 TRAVEL 68,760 5,065 11,152 57,608 16 12 EXCISE TAXES 6,500 5,244 10,686 (4,186) 164 13 RENTAL/LEASE 1,574,465 901,636 759,238 815,227 48 14 INSURANCE 403,973 393,746 405,121 (1,148) 100 15 UTILITIES 536,762 231,236 247,810 288,952 46 16 REPAIRS & MAINTENANCE 917,742 339,062 264,722 653,020 29 17 MISCELLANEOUS 507,715 222,030 249,653 258,062 49 18 INTERGOVERNMENTAL PAYMENTS 50,000 75,000 50,000 - 100 19 INTERFUND SUBSIDIES 932,880 449,033 234,945 697,935 25 20 MACHINERY/EQUIPMENT 23,120 9,053 - 23,120 0 21 GENERAL OBLIGATION BOND PRINCIPAL 54,530 - 54,530 0 22 OTHER INTEREST & DEBT SERVICE COSTS 500 - - 500 0 23 INTEREST ON LONG-TERM EXTERNAL DEBT 5,700 69,285 60,087 (54,387) 1054 45,978,718 21,049,664 21,115,256 24,863,462 46 LEOFF-MEDICAL INS. RESERVE(009) 24 BENEFITS $ 206,650 $ 94,966 $ 89,347 $ 117,303 43 25 PENSION AND DISABILITY PAYMENTS 252,990 51,424 56,775 196,215 22 26 PROFESSIONAL SERVICES 7,000 5,793 - 7,000 0 27 MISCELLANEOUS 500 - - 500 0 467,140 152,182 146,122 321,018 31 HISTORIC PRESSERVATION GIFT FUND (014) 28 SUPPLIES $ 100 $ - $ S 100 0 29 PROFESSIONAL SERVICES 200 - 200 0 30 MISCELLANEOUS 5,600 - 5,600 0 MARSH RESTORATION & PRESERVATION FUND (017) 31 PROFESSIONAL SERVICES $ 20,000 $ - $ 16,149 $ 3,851 81 20,000 - 16,149 3,851 81 BUILDING MAINTENANCEFUND (016) 32 INTERFUND SUBSIDIES $ 210,222 $ - $ - $ 210,222 0 210,222 - 210,222 0 EDMONDS HOMELESSNESS RESPONSEFUND (018) 33 INTERFUND SUBSIDIES $ 123,581 $ - $ 123,581 $ 0 100 123,581 - 123,581 0 100 EDMONDS OPIOID RESPONSEFUND (019) 34 INTERFUND SUBSIDIES $ 28,445 $ - $ 28,445 $ - 100 28,445 - 28,445 - 100 DRUG ENFORCEMENTFUND (104) 35 PROFESSIONAL SERVICES $ 45,000 $ - $ - $ 45,000 0 36 REPAIR/MAINT 800 - 800 0 37 MISCELLANEOUS - 25,966 - 0 45,800 25,966 45,800 0 6 Packet Pg. 10 I 2.1.a I Page 2 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent STREETFUND (111) 1 SALARIES AND WAGES $ 728,690 $ 334,182 $ 372,872 $ 355,818 51 2 OVERTIME 18,400 22,058 21,363 (2,963) 116 3 BENEFITS 381,336 161,035 183,700 197,636 48 4 UNIFORMS 6,000 3,781 5,432 568 91 5 SUPPLIES 263,000 97,720 100,566 162,434 38 6 SMALL EQUIPMENT 20,000 684 770 19,230 4 7 PROFESSIONAL SERVICES 23,210 1,246 5,572 17,638 24 8 COMMUNICATIONS 4,500 4,237 3,015 1,485 67 9 TRAVEL 1,000 - - 1,000 0 10 RENTAL/LEASE 247,270 114,398 122,800 124,470 50 11 INSURANCE 148,436 156,937 148,533 (97) 100 12 UTILITIES 280,918 130,919 120,183 160,735 43 13 REPAIRS&MAINTENANCE 52,000 22,160 10,114 41,886 19 14 MISCELLANEOUS 8,000 2,841 10,557 (2,557) 132 15 MACHINERY/EQUIPMENT - 75,658 - - 0 16 GENERAL OBLIGATION BOND PRINCIPAL 4,220 - - 4,220 0 17 INTEREST 450 255 220 230 49 $ 2,187,430 $ 1,128,111 $ 1,105,696 $ 1,081,734 51 COMBINED STREETCONST/IMPROVE(112) 18 PROFESSIONAL SERVICES $ 1,581,847 $ 97,132 $ 520,208 $ 1,061,639 33 19 REPAIR & MAINTENANCE 103,670 170,234 947 102,723 1 20 MISCELLANEOUS - 8 - - 0 21 INTERFUND SUBSIDIES 114,950 40,121 39,925 75,025 35 22 LAND 33,000 - (842) 33,842 -3 23 CONSTRUCTION PROJECTS 955,000 180,559 361,056 593,944 38 24 INTERGOVERNMENTAL LOANS 72,220 72,201 72,201 19 100 25 INTEREST 1,610 1,952 1,591 19 99 $ 2,862,297 $ 562,208 $ 995,087 $ 1,867,210 35 MUNICIPAL ARTS ACQUIS. FUND (117) 26 SUPPLIES $ 4,700 $ 102 $ 265 $ 4,435 6 27 SMALL EQUIPMENT 1,700 (199) - 1,700 0 28 PROFESSIONAL SERVICES 221,500 10,995 16,253 205,247 7 29 TRAVEL 80 - - 80 0 30 RENTAL/LEASE 2,000 - 2,000 0 31 REPAIRS & MAINTENANCE 300 - - 300 0 32 MISCELLANEOUS 6,600 1,461 1,498 5,102 23 $ 236,880 $ 12,359 $ 18,016 $ 218,864 8 HO TEL/MO TEL TAX REVENUE FUND (120) 33 PROFESSIONAL SERVICES $ 83,150 $ 26,848 $ 22,303 $ 60,847 27 34 MISCELLANEOUS - 500 - - 0 35 INTERFUND SUBSIDIES 4,000 2,000 2,000 2,000 50 $ 87,150 $ 29,348 $ 24,303 $ 62,847 28 EMPLO YEE PARI(ING PERMIT FUND (121) 36 SUPPLIES $ 1,790 $ - $ - $ 1,790 0 37 PROFESSIONAL SERVICES 25,090 - 25,090 0 $ 26,880 $ - $ $ 26,880 0 YOUTH SCHOLARSHIP FUND (122) 38 MISCELLANEOUS $ 3,000 $ 450 $ $ 3,000 0 $ 3,000 $ 450 $ $ 3,000 0 TO URISM PRO MO TIO NAL FUND/ARTS (123) 39 PROFESSIONAL SERVICES $ 29,900 $ 2,223 $ $ 29,900 0 $ 29,900 $ 2,223 $ $ 29,900 0 O lZ d lY <0 c ca C IL d 1= R 7 Cl F N 0 N O C 7 7 Packet Pg. 11 I 2.1.a I Page 3 of 6 C ITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent REAL ESTATE EXCISE TAX (125) 1 SUPPLIES $ 121,000 $ 13,815 $ 28,636 $ 92,364 24 2 PROFESSIONAL SERVICES 195,626 153,982 73,961 121,665 38 3 REPAIRS & MAINTENANCE 105,000 202,361 12,991 92,009 12 4 INTERFUND SUBSIDIES 190 - - 190 0 5 CONSTRUCTION PROJECTS 1,179,482 398,035 45,393 1,134,089 4 $ 1,601,298 $ 768,193 $ 160,981 $ 1,440,317 10 REAL ESTATE EXC ISE TAX 1 (126) 6 PROFESSIONAL SERVICES 7 REPAIRS & MAINTENANCE 8 INTERFUND SUBSIDIES 9 CONSTRUCTION PROJECTS 10 GENERAL OBLIGATION BONDS 11 INTEREST GIFTS CATALOG FUND (127) 12 SUPPLIES 13 PROFESSIONAL SERVICES 14 MISCELLANEOUS 15 INTERFUND SUBSIDIES C EVIEIERY MAINTENANC UIMPRO VEMEVT (130) 16 SALARIES AND WAGES 17 OVERTIME 18 BENEFIT S 19 UNIFORMS 20 SUPPLIES 21 SUPPLIES PURCHASED FOR INVENTORY/RESALE 22 PROFESSIONAL SERVICES 23 COMMUNICATIONS 24 TRAVEL 25 RENTAL/LEASE 26 UTILITIES 27 REPAIRS & MAINTENANCE 28 MISCELLANEOUS PARKS TRUST FUND (136) 29 PROFESSIONAL SERVICES CEMETERY MAINTENANCE TRUST FUND (137) 30 SMALL EQUIPMENT SISTER CITY COMMISSION (138) 31 SUPPLIES 32 TRAVEL 33 MISCELLANEOUS BUSINESS IMPROVEMEVTDISTRICTFUND (140) 34 SUPPLIES 35 PROFESSIONAL SERVICES 36 MISCELLANEOUS 2012 LTGO DEBT SERVIC FUND (23 1) 37 GENERAL OBLIGATION BOND 38 INTEREST $ 573,234 $ 482,771 $ 190,410 $ 382,824 33 97,050 171,880 14,850 82,200 15 138,910 12,963 11,863 127,048 9 983,137 286,700 221,320 761,817 23 144,530 - - 144,530 0 117,050 1,484 1,282 115,768 1 $ 2,053,911 $ 955,798 $ 439,724 $ 1,614,187 21 $ 67,500 $ 20,780 $ 19,729 $ 47,771 29 6,500 - - 6,500 0 600 168 - 600 0 26,300 17,900 13,150 13,150 50 $ 100,900 $ 38,848 $ 32,879 $ 68,021 33 $ 95,824 $ 40,909 $ 47,668 $ 48,156 50 3,500 176 249 3,251 7 40,472 18,274 19,876 20,596 49 1,000 - - 1,000 0 7,000 405 485 6,515 7 20,000 8,306 15,766 4,234 79 4,200 - 800 3,400 19 1,700 840 842 858 50 500 - - 500 0 16,650 4,115 8,325 8,325 50 5,652 2,146 1,915 3,737 34 500 - 19,211 (18,711) 3842 4,000 2,325 2,567 1,433 64 $ 200,998 $ 77,496 $ 117,703 $ 83,295 59 $ 50,000 $ $ - $ 50,000 0 $ 50,000 $ $ - $ 50,000 0 $ 25,000 $ $ $ 25,000 0 $ 25,000 $ - $ $ 25,000 0 $ 1,500 $ 11 $ $ 1,500 0 4,500 - 4,500 0 5,900 - 5,900 0 $ 11,900 $ 11 $ $ 11,900 0 $ 2,050 $ 9,439 $ 372 $ 1,678 18 70,035 24,169 19,274 50,761 28 4,255 90 990 3,265 23 76,340 33,697 20,636 55,704 27 $ 677,990 $ - $ - $ 677,990 0 81,710 47,291 40,853 40,857 50 $ 759,700 $ 47,291 $ 40,853 $ 718,847 5 8 Packet Pg. 12 I 2.1.a I Page 4 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent PARKS CONSTRUCTION FUND (332) 1 PROFESSIONAL SERVICES $ 113,453 $ 196,504 $ 121,636 $ (8,183) 107 2 INTERFUND SUBSIDIES 44,000 - - 44,000 0 3 CONSTRUCTION PROJECTS 5,395,037 460,676 104,083 5,290,954 2 $ 5,552,490 $ 657,180 $ 225,719 $ 5,326,771 4 WATER FUND (421) 4 SALARIES AND WAGES 5 OVERTIME 6 BENEFIT S 7 UNIFORMS 8 SUPPLIES 9 WATER PURCHASED FOR RESALE 10 SUPPLIES PURCHASED FOR INVENTORY/RESALE 11 SMALL EQUIPMENT 12 PROFESSIONAL SERVICES 13 COMMUNICATIONS 14 TRAVEL 15 EXCISE TAXES 16 RENTAL/LEASE 17 INSURANCE 18 UTILITIES 19 REPAIRS & MAINTENANCE 20 MISCELLANEOUS 21 INTERFUND SUBSIDIES 22 CONSTRUCTION PROJECTS 23 GENERAL OBLIGATION BONDS 24 REVENUE BONDS 25 INTERGOVERNMENTAL LOANS 26 INTEREST STORM FUND (422) 27 SALARIES AND WAGES 28 OVERTIME 29 BENEFIT S 30 UNIFORMS 31 SUPPLIES 32 SMALL EQUIPMENT 33 PROFESSIONAL SERVICES 34 COMMUNICATIONS 35 TRAVEL 36 EXCISE TAXES 37 RENTAL/LEASE 38 INSURANCE 39 UTILITES 40 REPAIR & MAINTENANCE 41 MISCELLANEOUS 42 INTERFUND SUBSIDIES 43 CONSTRUCTION PROJECTS 44 GENERAL OBLIGATION BONDS 45 REVENUE BONDS 46 INTERGOVERNMENTAL LOANS 47 INTEREST $ 793,475 $ 402,240 $ 335,349 $ 458,126 42 24,000 9,575 10,395 13,605 43 328,865 161,964 144,025 184,840 44 4,000 2,343 2,691 1,309 67 150,000 51,533 39,524 110,476 26 2,170,000 817,594 574,330 1,595,670 26 170,000 89,435 110,579 59,421 65 11,000 4,940 3,917 7,083 36 1,558,701 611,538 1,117,586 441,115 72 30,000 14,942 13,920 16,080 46 200 - - 200 0 1,649,700 626,900 642,514 1,007,186 39 124,630 65,271 61,436 63,194 49 97,844 52,541 98,196 (352) 100 35,775 14,686 15,055 20,720 42 258,130 19,039 11,030 247,100 4 123,600 74,573 91,901 31,699 74 644,130 204,067 198,136 445,994 31 1,976,050 1,523,822 7,513 1,968,537 0 2,840 - - 2,840 0 385,100 - - 385,100 0 25,840 25,839 25,839 1 100 196,170 105,907 98,336 97,834 50 $ 10,760,050 $ 4,878,748 $ 3,602,271 $ 7,157,779 33 $ 723,700 $ 304,908 $ 348,704 $ 374,996 48 6,000 7,892 13,945 (7,945) 232 318,735 143,019 153,422 165,313 48 6,500 5,369 4,555 1,945 70 46,000 14,419 22,686 23,314 49 4,000 684 304 3,696 8 2,728,016 865,877 801,072 1,926,944 29 3,200 3,230 2,634 566 82 4,300 - 150 4,150 3 470,100 249,247 308,155 161,945 66 267,778 136,841 132,220 135,558 49 66,216 116,576 66,228 (12) 100 11,025 6,061 7,047 3,978 64 64,130 13,181 19,629 44,501 31 255,300 84,291 133,058 122,242 52 281,810 78,897 76,327 205,483 27 1,581,000 1,915,305 32,679 1,548,321 2 103,340 - - 103,340 0 188,240 - - 188,240 0 53,590 53,576 53,576 14 100 110,910 60,769 58,672 52,238 53 $ 7,293,890 $ 4,060,143 $ 2,235,061 $ 5,058,829 31 O Q. d lY c ca C IL d r- R 7 Cy N 0 N d C 7 9 Packet Pg. 13 I 2.1.a I Page 5 of 6 CITY OF EOMO NDS EXPENDITURES BY FUND - DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent SEWER FUND (423) 1 SALARIES AND WAGES $ 2,027,508 $ 973,322 $ 879,906 $ 1,147,602 43 2 OVERTIME 95,000 49,928 65,078 29,922 69 3 BENEFITS 871,564 417,447 391,443 480,121 45 4 UNIFORMS 8,500 6,645 8,011 489 94 5 SUPPLIES 404,000 175,318 208,428 195,572 52 6 FUEL CONSUMED 30,000 10,335 50,107 (20,107) 167 7 SUPPLIES PURCHASED FOR INV OR RESALE 4,000 - - 4,000 0 8 SMALL EQUIPMENT 35,000 20,089 74,469 (39,469) 213 9 PROFESSIONAL SERVICES 2,141,848 1,314,151 2,198,972 (57,124) 103 10 COMMUNICATIONS 43,000 21,087 19,849 23,151 46 11 TRAVEL 5,000 - 1,919 3,081 38 12 EXCISE TAXES 968,000 459,832 548,220 419,780 57 13 RENTAL/LEASE 329,898 167,514 189,365 140,533 57 14 INSURANCE 160,967 174,140 162,851 (1,884) 101 15 UTILITIES 1,979,985 420,944 659,985 1,320,000 33 16 REPAIR & MAINTENANCE 520,630 123,903 217,087 303,543 42 17 MISCELLANEOUS 129,350 48,123 72,232 57,118 56 18 INTERFUND SUBSIDIES 10,180,936 76,610 1,953,015 8,227,921 19 19 MACHINERY/EQUIPMENT - 445,070 - - 0 20 CONSTRUCTION PROJECTS 19,756,808 576,192 4,018,210 15,738,598 20 21 GENERAL OBLIGATION BONDS 157,060 - - 157,060 0 22 REVENUE BONDS 86,670 - - 86,670 0 23 INTERGOVERNMENTAL LOANS 173,900 158,325 158,667 15,233 91 24 INTEREST 382,660 33,421 199,266 183,394 52 25 DEBT ISSUE COSTS - - 1,518 (1,518) 0 26 OTHER INTEREST & DEBT SERVICE COSTS - 2,399 2,252 (2,252) 0 $ 40,492,284 $ 5,674,797 $ 12,080,851 $ 28,411,433 30 BOND RESERVEFUND (424) 27 REVENUE BONDS $ 785,020 $ - $ - $ 785,020 0 28 INTEREST 1,200,850 616,542 600,417 600,433 50 $ 1,985,870 $ 616,542 $ 600,417 $ 1,385,453 30 O C. d !Y 2 C O C IL L d ev 7 Cl T- N O N d C 7 10 Packet Pg. 14 I 2.1.a I Page 6 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent EQUIPMENTRENTAL FUND (511) 1 SALARIES AND WAGES $ 272,384 $ 137,363 $ 136,488 $ 135,896 50 2 OVERTIME 2,000 824 1,573 427 79 3 BENEFITS 116,481 57,102 57,574 58,907 49 4 UNIFORMS 1,000 797 1,022 (22) 102 5 SUPPLIES 120,000 38,053 31,054 88,946 26 6 FUEL CONSUMED 1,000 - - 1,000 0 7 SUPPLIES PURCHASED FOR INVENTORY/RESALE 258,000 73,955 101,031 156,969 39 8 SMALL EQUIPMENT 58,000 279 5,979 52,021 10 9 PROFESSIONAL SERVICES 46,750 1,750 684 46,066 1 10 COMMUNICATIONS 3,000 1,182 1,095 1,905 37 11 TRAVEL 1,000 - - 1,000 0 12 RENTAL/LEASE 12,790 6,115 6,198 6,592 48 13 INSURANCE 40,910 40,270 39,334 1,576 96 14 UTILITIES 14,500 8,231 8,983 5,517 62 15 REPAIRS&MAINTENANCE 60,000 24,237 8,734 51,266 15 16 MISCELLANEOUS 12,000 7,225 7,723 4,277 64 17 MACHINERY/EQUIPMENT 410,139 41,970 216,503 193,636 53 $ 1,429,954 $ 439,356 $ 623,977 $ 805,977 44 TECHNOLOGY RENTAL FUND (512) 18 SALARIES AND WAGES $ 379,162 $ 139,912 $ 154,630 $ 224,532 41 19 OVERTIME 2,000 - 1,583 417 79 20 BENEFITS 127,657 47,519 52,627 75,030 41 21 SUPPLIES 5,000 1,443 3,012 1,988 60 22 SMALL EQUIPMENT 141,300 38,941 10,575 130,725 7 23 PROFESSIONAL SERVICES 171,460 47,998 20,352 151,108 12 24 COMMUNICATIONS 58,770 35,795 39,408 19,362 67 25 TRAVEL 1,500 207 - 1,500 0 26 RENTAL/LEASE 7,400 2,245 2,200 5,200 30 27 REPAIRS & MAINTENANCE 302,660 216,004 234,196 68,464 77 28 MISCELLANEOUS 5,000 10,264 1,153 3,847 23 29 MACHINERY/EQUIPMENT 56,000 - - 56,000 0 $ 1,257,909 $ 540,328 $ 519,736 $ 738,173 41 FIR]IVIEN'S PENSION FUND (617) 31 BENEFITS $ 24,560 $ 12,834 $ 12,911 $ 11,649 53 32 PENSION AND DISABILITY PAYMENTS 70,407 31,215 30,237 40,170 43 33 PROFESSIONAL SERVICES 1,200 1,007 - 1,200 0 $ 96,167 $ 45,056 $ 43,148 $ 53,019 45 TOTAL EXPENDITURE ALL FUNDS $ 126,062,004 $ 41,795,994 $ 44,316,612 $ 81,745,392 35 O Q. d c ca C IL L d R 7 Cl N 0 N d C 7 11 Packet Pg. 15 Page 1 of 1 CITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN SUMMARY 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining CITY COUNCIL OFFICE OF MAYOR HUMAN RESOURCES MUNICIPAL COURT CITY CLERK FINANCE CITY ATTORNEY NON -DEPART MENTAL POLICE SERVICES COMMUNITY SERVICES/ECONOMIC DEV DEVELOPMENT SERVICES HUMAN SERVICES PROGRAM PARKS& RECREATION PUBLIC WORKS ADMINIST RATION FACILITIES MAINTENANCE %Spent $ 432,478 $ 160,080 $ 164,613 $ 267,865 38% 345,501 169,276 166,677 178,824 48% 837,176 335,262 368,323 468,853 44% 1,166,183 507,527 535,746 630,437 46% 757,055 378,904 351,029 406,026 46% d 1,118,378 795,796 625,371 493,007 56% 936,480 431,895 404,226 532,255 43% c 12,881,593 6,488,886 6,412,264 6,469,329 50% LL 12,217,071 5,628,905 5,731,600 6,485,471 47% i 624,198 258,279 263,632 360,566 42% d 3,585,738 1,370,746 1,471,283 2,114,455 41% CY 599,402 - 27,733 571,669 5% N 4,729,281 1,756,039 2,002,869 2,726,412 42% 0 � C 3,305,285 1,592,543 1,600,266 1,705,019 48% zi 2,442,899 1,175,527 989,625 1,453,274 41% r_ $ 45,978,718 $ 21,049,664 $ 21,115,256 $ 24,863,462 46% Q. m C ITY OF EDMO NDS EXPENDITURES - UTILITY- BY FUND IN SUMMARY Title 2021 Amended Budget 6/30/2020 Expenditures 6/30/2021 Expenditures Amount Remaining %Spent WATER UTILITY FUND $ 10,760,050 $ 4,878,748 $ 3,602,271 $ 7,157,779 33% STORM UTILITY FUND 7,293,890 4,060,143 2,235,061 5,058,829 31% SEWER/WWTP UTILITY FUND 40,492,284 5,674,797 12,080,851 28,411,433 30% BOND RESERVE FUND 1,985,870 616,542 600,417 1,385,453 30% $ 60,532,094 $ 15,230,229 $ 18,518,601 $ 42,013,493 31% 12 Packet Pg. 16 Page 1 of 4 C ITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL Title 2021 Amended Budget 6/30/2020 Expenditures 6/30/2021 Expenditures Amount Remaining %Spent CITY COUNCIL SALARIES $ 199,052 $ 94,397 $ 100,010 $ 99,042 50% OVERTIME 1,000 - - 1,000 0% BENEFITS 118,713 49,012 52,262 66,451 44% SUPPLIES 2,000 1,484 549 1,451 27% SMALL EQUIPMENT - - 1,159 (1,159) 0% PROFESSIONAL SERVICES 62,160 3,377 - 62,160 0% COMMUNICATIONS 3,000 4,372 4,034 (1,034) 134% TRAVEL 6,700 587 - 6,700 0% RENTAL/LEASE 12,368 6,160 6,163 6,205 50% REPAIRS✓MAINTENANCE 500 645 - 500 0% MISCELLANEOUS 26,985 48 435 26,550 2% $ 432,478 $ 160,080 $ 164,613 $ 267,865 38% OFFICEOFMAYOR SALARIES $ 229,512 $ 112,214 $ 114,747 $ 114,765 50% BENEFITS 85,243 43,096 42,250 42,993 50% SUPPLIES 1,500 539 246 1,254 16% SMALL EQUIPMENT - 4,199 65 (65) 0% PROFESSIONAL SERVICES 3,000 420 237 2,763 8% COMMUNICATION 1,400 614 678 722 48% TRAVEL 3,000 153 - 3,000 0% RENTAL/LEASE 17,396 7,929 8,191 9,205 47% MISCELLANEOUS 4,450 113 262 4,188 6% $ 345,501 $ 169,276 $ 166,677 $ 178,824 48% HUMAN RESOURCES SALARIES $ 387,048 $ 184,123 $ 200,848 $ 186,200 52% OVERTIME - 1,012 911 (911) 0% BENEFITS 154,430 72,443 76,531 77,899 50% SUPPLIES 13,300 3,334 697 12,603 5% SMALL EQUIPMENT 300 893 198 102 66% PROFESSIONAL SERVICES 205,000 28,951 45,818 159,182 22% COMMUNICATIONS 1,550 737 704 846 45% TRAVEL 1,500 500 - 1,500 0% RENTAL/LEASE 36,102 15,318 16,901 19,201 47% REPAIR/MAINTENANCE 8,380 7,832 8,067 313 96% MISCELLANEOUS 29,566 20,120 17,648 11,918 60% $ 837,176 $ 335,262 $ 368,323 $ 468,853 44% MUNIC ]PAL C O URT SALARIES $ 651,167 $ 315,034 $ 321,304 $ 329,863 49% OVERTIME 800 70 16,304 (15,504) 2038% BENEFITS 243,859 117,462 113,230 130,629 46% SUPPLIES 10,600 2,545 3,065 7,535 29% SMALL EQUIPMENT 1,000 - - 1,000 0% PROFESSIONAL SERVICES 124,925 27,342 31,866 93,059 26% COMMUNICATIONS 3,550 1,100 1,756 1,794 49% TRAVEL 6,500 37 1,035 5,465 16% RENTAL/LEASE 70,682 34,323 35,277 35,405 50% REPAIR/MAINTENANCE 4,880 645 - 4,880 0% MISCELLANEOUS 25,100 8,970 11,910 13,190 47% MACHINERY/EQUIPMENT 23,120 23,120 0% $ 1,166,183 $ 507,527 $ 535,746 $ 630,437 46% 13 Packet Pg. 17 1 I 2.1.a I Page 2 of 4 C ITY O F EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent CITY CLERK SALARIES AND WAGES $ 397,226 $ 204,825 $ 166,661 $ 230,565 42% BENEFITS 169,669 82,450 67,480 102,189 40% SUPPLIES 7,000 2,412 781 6,219 11% SMALL EQUIPMENT - 1,003 - - 0% PROFESSIONAL SERVICES 34,200 12,548 19,507 14,693 57% COMMUNICATIONS 33,000 4,100 22,023 10,977 67% TRAVEL 1,980 6 - 1,980 0% RENTAL/LEASE 55,980 26,396 24,134 31,846 43% REPAIRS & MAINTENANCE 48,000 41,791 47,028 972 98% MISCELLANEOUS 10,000 3,372 3,415 6,585 34% $ 757,055 $ 378,904 $ 351,029 $ 406,026 46% FINANCE SALARIES $ 743,908 $ 571,613 $ 405,027 $ 338,881 54% OVERTIME 4,500 - - 4,500 0% BENEFITS 240,564 145,316 135,401 105,163 56% SUPPLIES 7,350 2,371 1,580 5,770 22% SMALL EQUIPMENT 2,650 - 557 2,093 21% PROFESSIONAL SERVICES 9,300 56 109 9,191 1% COMMUNICATIONS 2,000 422 362 1,639 18% TRAVEL 3,100 - - 3,100 0% RENTAL/LEASE 55,176 29,485 31,253 23,923 57% REPAIR/MAINTENANCE 41,480 43,963 45,479 (3,999) 110% MISCELLANEOUS 8,350 2,571 5,603 2,747 67% $ 1,118,378 $ 795,796 $ 625,371 $ 493,007 56% CITY ATPO RNEY PROFESSIONAL SERVICES $ 936,480 $ 431,895 $ 404,226 $ 532,255 43% $ 936,480 $ 431,895 $ 404,226 $ 532,255 43% NON -DEPARTMENTAL SALARIES $ 101,750 $ - $ - $ 101,750 0% BENEFITS -UNEMPLOYMENT 50,000 335 24,849 25,151 50% SUPPLIES 5,000 3,818 1,152 3,848 23% PROFESSIONAL SERVICES 11,168,050 5,402,245 5,540,114 5,627,936 50% EXCISE TAXES 6,500 5,244 10,686 (4,186) 164% RENTAL/LEASE 6,366 8,048 2,354 4,012 37% INSURANCE 403,973 393,746 405,121 (1,148) 100% MISCELLANEOUS 96,344 82,133 82,956 13,388 86% CONTRIBUTION TO ECA 50,000 75,000 50,000 - 100% INTERFUND SUBSIDIES 932,880 449,033 234,945 697,935 25% GENERAL OBLIGATION BOND 54,530 - - 54,530 0% INTEREST ON LONG-TERM DEBT 5,700 69,285 60,087 (54,387) 1054% FISCAL AGENT FEES 500 - - 500 0% $ 12,881,593 $ 6,488,886 $ 6,412,264 $ 6,469,329 50% O C. d 2 C O C IL L d R 7 CY F N O N O C 7 14 Packet Pg. 18 Page 3 of 4 CITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining %Spent POLICE SERVICES SALARIES $ 7,406,813 $ 3,363,209 $ 3,563,954 $ 3,842,859 48% OVERTIME 461,280 250,881 257,604 203,676 56% HOLIDAY BUYBACK 281,329 1,450 3,558 277,771 1% BENEFITS 2,900,495 1,340,247 1,324,616 1,575,879 46% UNIFORMS 78,926 42,547 29,516 49,410 37% SUPPLIES 90,500 54,286 59,742 30,758 66% FUEL CONSUMED - - 17 (17) 0% SMALL EQUIPMENT 78,953 42,668 61,061 17,892 77% C. PROFESSIONAL SERVICES 126,220 85,088 49,711 76,509 39% d COMMUNICATIONS 36,000 21,541 19,678 16,322 55% TRAVEL 29,310 2,393 10,117 19,193 35% RENTAL/LEASE 651,715 409,476 323,905 327,810 50% REPAIR/MAINTENANCE 15,180 2,123 3,398 11,782 22% r- MISCELLANEOUS 60,350 12,995 24,723 35,627 41% LZ COMMUNITY S ERVIC ES /EC O N DEV. SALARIES OVERTIME BENEFITS SUPPLIES SMALL EQUIPMENT PROFESSIONAL SERVICES COMMUNICATIONS TRAVEL RENT AL/LEASE REP AIR/MAINTENANCE MISCELLANEOUS DEVELOPMENT SERVICES/PLANNING SALARIES OVERTIME BENEFIT S UNIFORMS SUPPLIES SMALL EQUIPMENT PROFESSIONAL SERVICES COMMUNICATIONS TRAVEL RENT AL/LEASE REPAIRS & MAINTENANCE MISCELLANEOUS MACHINERY/EQUIPMENT ENGINEERING SALARIES OVERTIME BENEFITS UNIFORMS SMALL EQUIPMENT PROFESSIONAL SERVICES COMMUNICATIONS TRAVEL RENT AL/LEASE REPAIR/MAINTENANCE MISCELLANEOUS $ 12,217,071 $ 5,628,905 $ 5,731,600 $ 6,485,471 47% i d $ 312,977 $ 153,842 $ 146,764 $ 166,213 47% c6 - - - - 0% CY 91,455 45,035 44,843 46,612 49% 2,275 6,706 111 2,164 5% C 800 3,321 - 800 0% N 170,400 37,935 56,155 114,245 33% C 3,175 918 1,099 2,076 35% 2,000 1,020 - 2,000 0% ... 21,116 5,900 9,719 11,397 46%' 10,500 - - 10,500 0% 0 9,500 3,603 4,941 4,559 52% $ 624,198 $ 258,279 $ 263,632 $ 360,566 42% _ $ 1,846,548 $ 857,244 $ 939,600 $ 906,948 51% 1,300 12,231 42 1,258 3% 684,621 312,785 326,942 357,679 48% 500 - - 500 0% 12,100 4,601 2,630 9,470 22% 7,300 1,374 658 6,642 9% 825,499 70,230 94,420 731,079 11% 9,000 5,426 6,049 2,951 67% 7,300 228 - 7,300 0% 135,710 85,133 66,291 69,419 49% 6,800 - 643 6,157 9% 49,060 21,493 34,010 15,050 69% - - - - 0% $ 3,585,738 $ 1,370,746 $ 1,471,283 $ 2,114,455 41% $ 1,786,020 $ 870,683 $ 881,570 $ 904,450 49% 5,000 2,081 1,666 3,334 33% 735,787 351,025 354,367 381,420 48% 450 - - 450 0% 2,200 868 795 1,405 36% 13,840 1,530 - 13,840 0% 19,600 8,285 7,422 12,178 38% 600 92 - 600 0% 146,935 66,051 70,356 76,579 48% 2,600 458 68 2,532 3% 80,000 34,538 29,996 50,004 37% $ 2,793,032 $ 1,335,611 $ 1,346,241 $ 1,446,791 48% 15 Packet Pg. 19 I 2.1.a I Page 4 of 4 C ITY O F EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL 2021 Amended 6/30/2020 6/30/2021 Amount Title Budget Expenditures Expenditures Remaining % Spent HUMAN SERVICES PROGRAM SALARIES $ 79,510 $ - $ 21,791 $ 57,719 27% OVERTIME - - 581 (581) 0% BENEFITS 18,392 - 5,110 13,282 28% SUPPLIES 1,000 - - 1,000 0% SMALL EQUIPMENT 500 - - 500 0% PROFESSIONAL SERVICES 500,000 - - 500,000 0% COMMUNICATIONS - - 251 (251) 0% 599,402 - 27,733 571,669 5% PARKS & REC REATIO N SALARIES $ 2,319,689 $ 946,122 $ 1,136,722 $ 1,182,967 49% OVERTIME 10,000 2,006 3,071 6,929 31% BENEFITS 822,471 360,897 416,743 405,728 51% UNIFORMS 6,275 2,406 1,820 4,455 29% SUPPLIES 127,890 82,784 78,615 49,275 61% SMALL EQUIPMENT 10,900 2,190 8,984 1,916 82% PROFESSIONAL SERVICES 785,550 87,652 119,507 666,043 15% COMMUNICATIONS 31,370 12,342 5,098 26,272 16% TRAVEL 5,270 50 - 5,270 0% RENTAL/LEASE 251,549 133,929 111,152 140,397 44% PUBLIC UTILITY 230,507 70,436 88,948 141,559 39% REPAIR/MAINTENANCE 29,700 16,593 - 29,700 0% MISCELLANEOUS 98,110 29,579 32,209 65,901 33% MACHINERY/EQUIPMENT - 9,053 - - 0% $ 4,729,281 $ 1,756,039 $ 2,002,869 $ 2,726,412 42% PUBLIC WORKS ADMINIS TRATIO N SALARIES $ 299,962 $ 150,156 $ 149,786 $ 150,176 50% OVERTIME 200 - - 200 0% BENEFITS 106,903 53,137 53,170 53,733 50% SUPPLIES 8,600 2,579 1,474 7,126 17% SMALL EQUIPMENT 1,000 264 5,502 (4,502) 550% PROFESSIONAL SERVICES 200 92 69 131 34% COMMUNICATIONS 1,350 397 391 959 29% TRAVEL 500 - - 500 0% RENTAL/LEASE 84,320 48,018 41,516 42,804 49% PUBLIC UTILITY 3,318 1,595 1,775 1,543 53% REPAIR/MAINTENANCE 1,000 - - 1,000 0% MISCELLANEOUS 4,900 693 343 4,557 7% $ 512,253 $ 256,932 $ 254,025 $ 258,228 50% FACILITIES MAINTENANCE SALARIES 783,970 393,251 379,546 404,424 48% OVERTIME 7,500 2,922 4,681 2,819 62% BENEFIT S 357,720 169,027 165,148 192,572 46% UNIFORMS 3,000 13,177 3,495 (495) 117% SUPPLIES 112,000 71,917 59,565 52,435 53% SMALL EQUIPMENT 3,000 818 2,208 792 74% PROFESSIONAL SERVICES 73,000 101,114 33,354 39,646 46% COMMUNICATIONS 16,000 11,811 11,273 4,727 70% TRAVEL 1,000 - - 1,000 0% RENTAL/LEASE 29,050 25,470 12,025 17,025 41% PUBLIC UTILITY 302,937 159,205 157,088 145,849 52% REPAIR/MAINTENANCE 748,722 225,013 160,039 588,683 21% MISCELLANEOUS 5,000 1,802 1,203 3,797 24% $ 2,442,899 $ 1,175,527 $ 989,625 $ 1,453,274 41% TOTAL GENERAL FUND EXPENDITURES $ 45,978,718 $ 21,049,664 $ 21,115,256 $ 24,863,462 46% O C. d C O C M 21 L d R 7 Cl T- N O N O C 7 16 Packet Pg. 20 2.1.a I City of Edmonds, WA Monthly Revenue Summary -General Fund 2021 General Fund Cumulative Budget Forecast Monthly Budget Forecast YTD Actuals Variance % January $ 2,287,290 $ 2,287,290 $ 2,740,276 19.80% February 4,613,781 2,326,491 5,089,278 10.31% March 7,107,230 2,493,449 7,050,949 -0.79% April 10,175,039 3,067,809 11,029,475 8.40% May 18,374,709 8,199,670 20,122,774 9.51% June 20,786,286 2,411,577 22,872,014 10.03% July 23,079,988 2,293,702 August 25,616,155 2,536,167 September 27,881,561 2,265,406 October 31,748,856 3,867,296 November 40,108,232 8,359,375 December 42,450,777 2,342,545 City of Edmonds, WA Monthly Revenue Summary -Real Estate Excise Tax 2021 Real Estate Excise Tax 1 & 2 Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 195,748 $ 195,748 $ 625,840 219.72% February 341,557 145,810 922,678 170.14% March 525,343 183,786 1,222,093 132.63% April 697,989 172,646 1,478,072 111.76% May 895,413 197,424 1,949,651 117.74% June 1,120,061 224,648 2,330,065 108.03% July 1,335,075 215,015 August 1,581,214 246,138 September 1,849,736 268,522 October 2,083,774 234,038 November 2,308,787 225,013 December 2,500,000 191,213 *The monthly budget forecast columns are based on a five-year average. F O IZ d FY C C LL L d R 7 CY F N O N O C 7 17 Packet Pg. 21 1 I 2.1.a I SALES TAX SUMMARY Sales Tax Analysis By Category Current Period: June 2021 Year -to -Date Total $4,797,214 Automotive Repair, Health & Personal Care, 7,708 $128,782 Amusement & Recreation, $24,928 Construction Trade, � Business Services, Accommodation, $703,603 $5025464 $11,056 Gasoline, $19,023 Clothing and Accessories,$159,963 etail Food Stores, $167,158 Communications, $123,316 Retail Automotive, Wholesale Trade, $1,176,500 $1855179 Mi Others, $103,307, IManufacturing, $62,360 Eating & Drinking, $420,861 Annual Sales Tax Revenue 10,000,000- L $8,406,296 $8,452,715 $8,317,046 8,000,000 $7,395,114 $6,741,838 $6,905,122 6,000,000 $4,797,214 4,000,000 2,000, 000 0 201 2017 2018 2019 2020 YTD 2021 0 CL 0 o: U c M c ii `m c� U N 0 N m c 3 18 Packet Pg. 22 I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Sales and Use Tax 2021 Sales and Use Tax Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 661,963 $ 661,963 $ 774,198 16.95% February 1,491,081 829,118 1,647,058 10.46% March 2,110,825 619,744 2,350,659 11.36% April 2,677,870 567,045 3,041,781 13.59% May 3,379,279 701,409 3,922,140 16.06% June 4,038,220 658,941 4,797,214 18.80% July 4,756,025 717,805 August 5,547,915 791,890 September 6,288,480 740,565 October 7,063,515 775,035 November 7,866,501 802,986 December 8,600,000 733,499 Gas Utility Tax Sales and Use Tax 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 10000.55 2,000,000 1,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget Prior Year City of'Edmonds, WA Monthly Revenue Summary -Gas Utility Tax 2021 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 82,557 $ 82,557 $ 84,132 1.91% February 170,654 88,097 172,999 1.37% March 250,947 80,292 269,171 7.26% April 317,447 66,501 350,366 10.37% May 368,586 51,139 413,190 12.10% June 403,108 34,522 453,419 12.48% July 430,884 27,777 August 454,299 23,415 September 475,121 20,822 October 498,594 23,472 November 537,295 38,702 December 595,000 57,705 *The monthly budget forecast columns are based on a five-year average. O CL d t4 C C LL L d R 7 Cy F N O N O C 7 19 Packet Pg. 23 I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Telephone Utility Tax 2021 Telephone Utility Tax Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 69,351 $ 69,351 $ 56,592 -18.40% February 138,426 69,074 85,370 -38.33% March 199,085 60,660 140,907 -29.22% April 265,909 66,823 190,824 -28.24% May 325,636 59,728 218,932 -32.77% June 385,177 59,540 274,873 -28.64% July 443,946 58,770 August 501,501 57,554 September 557,882 56,382 October 615,320 57,437 November 665,999 50,679 December 723,000 57,001 Electric Utility Tax 800,000 Telephone Utility Tax 700,000 600,000 500,000 400,000 300,000 / 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget �Prior Year City of Edmonds, WA Monthly Revenue Summary -Electric Utility Tax 2021 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 179,984 $ 179,984 $ 192,356 6.87% February 379,889 199,905 367,328 -3.31% March 546,637 166,748 537,433 -1.68% April 730,293 183,656 721,208 -1.24% May 873,813 143,520 872,875 -0.11% June 997,568 123,755 987,183 -1.04% July 1,114,337 116,769 August 1,230,154 115,816 September 1,342,671 112,517 October 1,453,976 111,305 November 1,576,729 122,753 December 1,710,000 133,271 *The monthly budget forecast columns are based on a five-year average. O CL lv w O C C LL 21 L d R 7 Cy F N O N O C 7 20 Packet Pg. 24 I 2.1.a I City of Edmonds, WA Monthly Revenue Summary -Meter Water Sales 2021 Meter Water Sales Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 779,311 $ 779,311 $ 785,708 0.82% February 1,323,513 544,201 1,376,327 3.99% March 2,123,378 799,865 2,200,360 3.63% April 2,634,733 511,355 2,730,111 3.62% May 3,397,533 762,799 3,527,366 3.82% June 3,993,888 596,356 4,181,353 4.69% July 4,928,107 934,219 August 5,728,520 800,414 September 6,831,863 1,103,343 October 7,628,547 796,684 November 8,538,589 910,042 December 9,090,825 552,236 City of Edmonds, WA Monthly Revenue Summary -Storm Water Sales 2021 Storm Water Sales Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 384,276 $ 384,276 $ 377,845 6.87% February 1,216,009 831,732 1,205,144 -3.31% March 1,599,504 383,495 1,586,561 -1.68% April 1,939,303 339,799 1,926,094 -1.24% May 2,323,204 383,901 2,307,849 -0.11% June 2,663,931 340,727 2,647,822 -1.04% July 3,048,086 384,154 August 3,880,066 831,980 September 4,263,771 383,706 October 4,604,458 340,687 November 4,988,465 384,006 December 5,316,477 328,012 *The monthly budget forecast columns are based on a five-year average. F O IZ d C C M 21 L d R 7 CY F N O N O C 7 21 Packet Pg. 25 1 I 2.1.a I City of Edmonds, WA Monthly Revenue Summary-Unmeter Sewer Sales 2021 Unmeter Sewer Sales Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 846,742 $ 846,742 $ 806,699 -4.73% February 1,539,036 692,295 1,482,613 -3.67% March 2,387,119 848,083 2,293,552 -3.92% April 3,078,705 691,586 2,976,527 -3.32% May 3,923,269 844,563 3,802,264 -3.08% June 4,616,005 692,736 4,493,851 -2.65% July 5,485,907 869,902 August 6,180,993 695,086 September 7,065,967 884,974 October 7,769,759 703,792 November 8,630,384 860,626 December 9,319,928 689,544 *The monthly budget forecast columns are based on a five-year average. F O 0. d C C M 21 L d R 7 CY F N O N O C 7 22 Packet Pg. 26 1 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -General Fund 2021 General Fund Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 4,845,167 $ 4,845,167 $ 4,488,492 -7.36% February 8,240,292 3,395,126 7,637,016 -7.32% March 11,746,201 3,505,909 11,022,804 -6.16% April 15,231,541 3,485,340 14,232,961 -6.56% May 18,483,451 3,251,910 17,443,966 -5.62% June 22,684,269 4,200,818 21,115,256 -6.92% July 26,549,767 3,865,498 August 30,224,810 3,675,044 September 33,657,349 3,432,539 October 37,442,814 3,785,464 November 41,528,072 4,085,259 December 45,978,718 4,450,646 City of Edmonds, WA Monthly Expenditure Report -Non -Departmental 2021 Non -Departmental Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 2,126,439 $ 2,126,439 $ 2,013,112 -5.33% February 2,957,339 830,899 2,845,113 -3.79% March 3,909,781 952,442 3,679,050 -5.90% April 4,736,733 826,952 4,484,023 -5.34% May 5,415,966 679,234 5,278,401 -2.54% June 6,873,740 1,457,774 6,412,264 -6.71% July 7,909,844 1,036,104 August 8,774,178 864,334 September 9,513,240 739,062 October 10,425,754 912,513 November 11,547,839 1,122,086 December 12,881,593 1,333,754 *The monthly budget forecast columns are based on a five-year average. F O IZ d t4 C C M 21 L d R 7 CY F N O N O C 7 23 Packet Pg. 27 1 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -City Council 2021 City Council Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 27,295 $ 27,295 $ 26,808 -1.79% February 57,824 30,529 53,681 -7.17% March 91,440 33,616 83,267 -8.94% April 122,323 30,882 110,738 -9.47% May 163,149 40,826 137,169 -15.92% June 212,026 48,877 164,613 -22.36% July 246,267 34,241 August 293,761 47,494 September 333,076 39,315 October 357,472 24,396 November 393,733 36,262 December 432,478 38,745 F O i? d FY C C LL 21 L yd+ L R 7 Cy F N O N O C 7 City of Edmonds, WA Monthly Expenditure Report -Office of Mayor 2021 Office of Mayor Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 28,543 $ 28,543 $ 27,531 -3.55% February 58,378 29,835 55,740 -4.52% March 86,855 28,477 83,532 -3.83% April 115,847 28,992 111,352 -3.88% May 144,377 28,530 138,910 -3.79% June 172,357 27,980 166,677 -3.30% July 200,988 28,631 August 230,481 29,494 September 259,088 28,607 October 287,175 28,087 November 315,280 28,104 December 345,501 30,221 Office of Mayor 350,000.00 300,000.00 250,000.00 200,000.00 150,000.00 100,000.00 50,000.00 0.00 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget - -PriorYear *The monthly budget forecast columns are based on a five-year average. 24 Packet Pg. 28 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -Human Resources 2021 Human Resources Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 73,271 $ 73,271 $ 75,120 2.52% February 138,790 65,519 132,066 -4.84% March 202,112 63,322 187,141 -7.41% April 262,791 60,679 252,612 -3.87% May 326,332 63,541 319,298 -2.16% June 403,462 77,130 368,323 -8.71% July 464,647 61,185 August 528,490 63,843 September 598,547 70,057 October 664,032 65,485 November 731,681 67,649 December 837,176 105,495 F O IZ d t4 C C M 21 L d R 7 0 F N O N O C 7 City of'Edmonds, WA Monthly Expenditure Report -Municipal Court 2021 Municipal Court Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 88,422 $ 88,422 $ 93,953 6.26% February 185,102 96,680 183,450 -0.89% March 279,267 94,165 275,717 -1.27% April 374,976 95,709 359,370 -4.16% May 477,911 102,935 445,221 -6.84% June 568,960 91,049 535,746 -5.84% July 663,035 94,076 August 760,661 97,626 September 855,256 94,594 October 954,530 99,275 November 1,047,855 93,324 December 1,166,183 118,328 Municipal Court 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC -0---CurrentYeaz Budget �PriorYear *The monthly budget forecast columns are based on a five-year average. 25 Packet Pg. 29 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -Community Services/Economic Development 2021 Community Services/Economic Development Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 41,233 $ 41,233 $ 43,221 4.82% February 88,221 46,989 85,831 -2.71% March 135,256 47,034 130,319 -3.65% April 184,259 49,003 157,909 -14.30% May 233,650 49,391 198,730 -14.95% June 281,295 47,646 263,632 -6.28% July 332,496 51,200 August 387,551 55,056 September 434,722 47,170 October 487,409 52,687 November 550,406 62,997 December 624,198 73,792 City Clerk Community Services/Economic Development 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget --&- Prior Year City of Edmonds, WA Monthly Expenditure Report -City Clerk 2021 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 73,276 $ 73,276 $ 78,859 7.62% February 133,953 60,677 139,396 4.06% March 196,194 62,241 209,183 6.62% April 261,901 65,707 272,337 3.98% May 322,071 60,170 328,247 1.92% June 380,379 58,308 351,029 -7.72% July 444,659 64,280 August 511,894 67,234 September 567,756 55,862 October 625,324 57,568 November 692,090 66,766 December 757,055 64,965 City Clerk 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. F O CIL FY C O C LL L yd+ L R 7 0 F N O N O C 7 26 Packet Pg. 30 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -Technology Rental Fund 2021 Technology Rental Fund Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 136,722 $ 136,722 $ 117,002 -14.42% February 290,515 153,792 168,294 -42.07% March 386,224 95,709 350,229 -9.32% April 453,827 67,604 404,389 -10.89% May 542,997 89,170 460,963 -15.11% June 634,330 91,333 519,736 -18.07% July 713,918 79,588 August 806,613 92,695 September 902,103 95,490 October 985,360 83,257 November 1,067,005 81,645 December 1,257,909 190,904 Finance Technology Rental Fund 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget � Prior Year City of Edmonds, WA Monthly Expenditure Report -Finance 2021 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 116,793 $ 116,793 $ 137,736 17.93% February 202,688 85,896 226,074 11.54% March 289,766 87,077 314,260 8.45% April 377,999 88,233 402,835 6.57% May 466,613 88,615 490,038 5.02% June 576,420 109,807 625,371 8.49% July 670,117 93,697 August 756,308 86,191 September 853,460 97,152 October 943,512 90,052 November 1,030,441 86,929 December 1,118,378 87,937 Finance 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC +Current Yeaz Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. O CL d w O C O C LL 21 L d R 7 Cy F N O N O C 7 27 Packet Pg. 31 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -City Attorney 2021 City Attorney Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 78,040 $ 78,040 $ 69,941-10.38% February 156,080 78,040 142,526 -8.68% March 234,120 78,040 212,467 -9.25% April 312,160 78,040 282,407 -9.53% May 390,200 78,040 352,348 -9.70% June 468,240 78,040 404,226-13.67% July 546,280 78,040 August 624,320 78,040 September 702,360 78,040 October 780,400 78,040 November 858,440 78,040 December 936,480 78,040 O Q d fC U C R C_ E 21 L d fC 7 a T_ N O N d C 3 7 City of Edmonds, WA Monthly Expenditure Report -Police 2021 Police Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 948,663 $ 948,663 $ 992,942 4.67% February 1,933,831 985,168 1,856,572 -4.00% March 2,901,114 967,283 2,871,535 -1.02% April 3,878,067 976,953 3,802,023 -1.96% May 4,844,411 966,345 4,751,092 -1.93% June 5,873,421 1,029,009 5,731,600 -2.41% July 6,905,785 1,032,364 August 7,852,686 946,901 September 8,847,063 994,377 October 9,934,749 1,087,687 November 11,184,244 1,249,495 December 12,217,071 1,032,827 Police 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget Prior Year *The monthly budget forecast columns are based on a five-year average. 28 Packet Pg. 32 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -Development Services 2021 Development Services Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 256,049 $ 256,049 $ 219,157 -14.41% February 537,665 281,616 448,394 -16.60% March 818,171 280,505 690,769 -15.57% April 1,116,880 298,709 934,573 -16.32% May 1,419,687 302,807 1,185,423 -16.50% June 1,698,802 279,115 1,471,283 -13.39% July 2,000,438 301,636 August 2,308,559 308,121 September 2,606,786 298,227 October 2,898,446 291,660 November 3,237,188 338,742 December 3,585,738 348,550 Parks &z Recreation Development Services 3,600,000 3,200,000 2,800,000 2,400,000 2,000,000 1,600,000 1,200,000 800,000 400,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC --0-- Current Yeaz Budget � Prior Year City of Edmonds, WA Monthly Expenditure Report -Parks & Recreation 2021 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 319,744 $ 319,744 $ 308,283 -3.58% February 651,727 331,983 655,977 0.65% March 1,004,599 352,872 971,861 -3.26% April 1,371,174 366,574 1,273,239 -7.14% May 1,749,534 378,360 1,604,251 -8.30% June 2,129,825 380,291 2,002,869 -5.96% July 2,608,624 478,799 August 3,159,845 551,221 September 3,607,041 447,196 October 3,989,956 382,916 November 4,323,317 333,361 December 4,729,281 405,964 Parks & Recreation 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 fool 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC +Current Yeaz Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. O CL d U C R C_ E 21 L d R 7 a T_ N O N d C 3 7 29 Packet Pg. 33 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -Public Works Administration 2021 Public Works Administration Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 42,089 $ 42,089 $ 40,605 -3.53% February 84,997 42,908 81,720 -3.86% March 127,527 42,530 123,465 -3.19% April 170,261 42,734 170,658 0.23% May 213,078 42,817 212,461 -0.29% June 256,751 43,673 254,025 -1.06% July 300,611 43,860 August 343,101 42,490 September 385,406 42,305 October 426,793 41,387 November 468,729 41,936 December 512,253 43,524 Facilities Maintenance Public Works Administration 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year Budget � Prior Year City of Edmonds, WA Monthly Expenditure Report -Facilities Maintenance 2021 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 167,724 $ 167,724 $ 142,909 -14.80% February 348,879 181,155 294,332 -15.63% March 533,264 184,385 528,741 -0.85% April 706,629 173,365 711,450 0.68% May 894,239 187,611 856,587 -4.21% June 1,043,804 149,565 989,625 -5.19% July 1,223,905 180,101 August 1,414,941 191,036 September 1,622,246 207,305 October 1,898,737 276,491 November 2,125,911 227,174 December 2,442,899 316,988 *The monthly budget forecast columns are based on a five-year average. O CL d w O C C LL 21 L d R 7 Cy F N O N O C 7 30 Packet Pg. 34 I 2.1.a I City of Edmonds, WA Monthly Expenditure Report -Engineering 2021 Engineering Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 212,668 $ 212,668 $ 218,316 2.66% February 423,271 210,602 436,144 3.04% March 652,974 229,703 661,498 1.31% April 890,809 237,835 888,001 -0.32% May 1,130,883 240,074 1,122,224 -0.77% June 1,371,946 241,063 1,346,241 -1.87% July 1,617,159 245,213 August 1,869,308 252,149 September 2,101,156 231,848 October 2,337,410 236,254 November 2,559,700 222,290 December 2,793,032 233,332 Engine a ring 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. O Q d fC U C M C_ LL 21 L d R 7 a T_ N O N d C 3 7 31 Packet Pg. 35 I 2.1.a I INVESTMENT PORTFOLIO SUMMARY City of Edmonds Investment Portfolio Detail As of June 30, 2021 Years Agency/ Investment Purchase to Par Market Maturity Coupon Issuer Type Price Maturity Value Value Date Rate Grant Cnty WA Bonds 410,553 0.51 405,000 408,114 01/01/22 1.79% FFCB Bonds 1,998,548 0.96 2,000,000 2,034,134 06/14/22 1.88% Energy Northwest Bonds 1,466,077 1.00 1,345,000 1,410,811 07/01/22 5.00% Energy Northwest Bonds 260,748 1.00 250,000 256,778 07/01/22 2.95% Mason & Kitsap Cnty WA Bonds 948,084 1.42 855,000 912,755 12/01/22 5.00% Grant Cnty WA Bonds 1,517,955 1.51 1,500,000 1,525,950 01/01/23 1.54% Grant Cnty WA Bonds 576,332 1.51 520,000 557,325 01/01/23 5.00% Seattle WA Muni Bonds 2,224,500 1.59 2,000,000 2,153,380 02/01/23 5.00% FHLB Bonds 1,996,590 2.27 2,000,000 1,994,752 10/05/23 0.22% First Financial - ECA CD 2,803,516 2.38 2,803,516 2,803,516 11/15/23 2.08% Kent WA Bonds 286,648 2.42 250,000 278,543 12/01/23 5.00% Spokane County WA Bonds 259,075 3.42 250,000 261,878 12/01/24 2.10% First Financial - Waterfront Center CD 2,000,000 6.34 2,000,000 2,000,000 11/01/27 0.25% TOTAL SECURITIES 16,748,624 2.03 16,178,516 16,597,935 Washington State Local Gov't Investment Pool 32,902,246 32,902,246 Demand 0.08% Snohomish County Local Gov't Investment Pool 25,268,264 25,268,264 Demand 1.27% TOTAL PORTFOLIO $ 74,349,026 $ 74,768,445 Issuer Diversification Seattle WA Kent WA, Muni, 12% 2% Mason & Kitsap Cnty_ First WA, 5% Financial - CD, 30% Grant Cnty Spokane WA, 15% County y Energy FFCB, 12% WA, 2% 12 /o Northwest, 10% Cash and Investment Bala]Check (in $ Millions) Bonds, $11.4, 15% CD's, $4.8, 6% State LGIP County $32.9, 43 LGIP, $25.3 , 33% O IZ d C M C_ LL 21 L d cC 7 a T_ N O N d C 3 32 Packet Pg. 36 1 ■ 2.1.a I INVESTMENT PORTFOLIO SUMMARY Annual Interest Income $1,400, 000 $1,200,000 $1,236,875 $1,000,000 $947,931 $800,000 $635,781 557 817 $600,000 423,799 $400,000 $200,000 $- 2016 2017 2018 2019 2020 YTD 2021 1.5 1.3 1.0 0.8 0.5 0.3 0.0 Edmonds Rate of Return Compared to Benchmark (Rolling 12 months) — - - 6 Month Treasury Rate (Benchmark) City Blended Rate --------—-----—--- - - - - -- -- --• July September November January March May $ 6,000, 000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000, 000 Maturity Distribution and Rate of Return 6.00% 5.00% 4.00 3.00% 2.00% 1.00% 0.00% 0-6 Mo 6-12 12-18 18-24 24-30 30-36 36-42 42-48 48-54 54-60 60-66 66-72 72-78 Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo Mo F 0 a am w c 0 c ii 21 L yd+ L ��y V N O N C 7 33 Packet Pg. 37 2.1.a GENERAL FUND OVERVIEW CHANGE IN FUND BALANCES BALANCES GENERAL FUND ---- ACTUAL ---- ---- ACTUAL ---- & SUBFUNDS 6/30/2021 6/30/2021 Q2 YTD Fund Balance Cash Balance 0 001-General Fund $ 15,625,504 $ 9,650,112 $ 5,729,329 $ 1,756,758 m 009-Leoff-Medical Ins. Reserve 391,054 391,055 (41,666) (146,122 W 012-Contingency Reserve Fund 1,782,149 1,782,150 0 - ra 014-Historic Preservation Gift Fund 19,688 19,689 2,500 2,500 c 016-Building Maintenance 210,221 210,221 - - ii 017 - Marsh Restoration & Preservation 848,617 848,616 (15,999) (15,999 21 m Total General Fund & Subfunds $ 18,877,233 $ 12,901,842 $ 5,674,164 $ 1,597,137 *$2,000,000 of the General Fund Balance has been assigned by management for the development of Civic Field. CY *$7,267,031of the fund balance in Fund 001 added to the $1,768,863 balance in Fund 012, represent the required 20% N operating reserve. 3 7 1` GOVERNMENTAL FUNDS OVERVIEW 0- LL CHANGE IN FUND FUND BALANCES i BALANCES ---- ACTUAL ---- ---- ACTUAL ---- M GOVERNMENTAL FUNDS 6/30/2021 6/30/2021 Q2 YTD Fund Balance Cash Balance r N 0 N General Fund & Subfunds $ 18,877,233 $ 12,901,842 $ 5,522,138 $ 1,445,111 c Special Revenue 18,850,675 17,685,175 592,880 7,860,474 Debt Service (0) 0 - - a Capital Projects 6,330,939 6,066,688 5,648 177,429 E 0 Total Governmental Funds $ 44,058,847 $ 36,653,706 $ 6,120,666 $ 9,483,013 V r c m E t U 0 r a *Please note that these revenues and expenses occur within annual cycles. This Interim Report is not adjusted for accruals or those annual cycles. 34 Packet Pg. 38 2.1.a SPECIAL REVENUE FUNDS OVERVIEW FUND BALANCES CHANGE IN FUND BALANCES ---- ACTUAL ---- ---- ACTUAL ---- GOVERNMENTAL SPECIAL REVENUE 6/30/2021 6/30/2021 Q2 YTD Fund Balance Cash Balance 104 - Drug Enforcement Fund $ 75,700 $ 75,312 $ 847 $ 1,397 111 - Street Fund 949,884 795,809 128,731 (188,527 a 112 - Combined Street Const/Im prove 2,203,495 1,801,603 (339,401) 121,832 117 - Municipal Arts Acquis. Fund 689,399 685,795 8,487 6,672 118 - Memorial Street Tree 20,598 20,461 230 380 120 - Hotel/Motel Tax Revenue Fund 69,164 63,478 1,808 2,243 c 121- Employee Parking Permit Fund 92,358 91,636 2,222 10,360 u_ 122 -Youth Scholarship Fund 14,087 13,995 157 260 L 123 -Tourism Promotional Fund/Arts 90,319 87,478 6,032 9,981 V_ 125 - Real Estate Tax2 3,630,197 3,320,342 454,119 1,058,215 126 - Real Estate Excise Tax 1 * 3,082,359 2,806,036 293,294 772,192 a 127 - Gifts Catalog Fund 304,881 311,620 (19,419) 6,817 c 130 - Cemetery Maintenance/Improvement 212,189 210,804 6,871 7,062 136 - Parks Trust Fund 169,769 168,645 1,896 3,131 3 137- Cemetery Maintenance Trust Fund 1,121,638 1,114,290 18,839 31,778 3 138- Sister City Comm ission 13,058 12,988 2,618 2,695 140 -Business Improvement Disrict 53,955 53,956 7,327 34,804 0. 141 -Affordable and Supportive Housing Fd 111,073 104,377 18,220 32,633 142 - Edmonds Cares Fund 5,946,550 5,946,550 5,946,550 5,946,550 Total Special Revenue $ 18,850,675 $ 17,685,175 $ 6,539,430 $ 7,860,474 *$200,000 of the fund balance in Fund 126 has been reserved for Marsh Restoration Funding, as well as $500,000 for the purchase of Open Space. u_ 21 L ENTERPRISE FUNDS OVERVIEW r N O N N FUND BALANCES CHANGE IN FUND C 3 ENTERPRISE ---- ACTUAL ---- ---- ACTUAL ---- °r FUNDS 6/30/2021 6/30/2021 Q2 YTD a Fund Balance Cash Balance E 0 U 421 -Water Utility Fund $ 26,848,024 $ 6,435,398 $ (225,432) $ 1,148,372 422 -Storm Utility Fund 14,874,585 5,629,821 (111,081) 1,283,897 423 - Sewer/WWTP Utility Fund 52,223,358 17,376,620 (3,586,284) (175,070 c= 424 - Bond Reserve Fund 843,966 843,966 2 5 r a 411 -Combined Utility Operation 5,320 50,324 5,070 5,320 Total Enterprise Funds $ 94,795,254 $ 30,336,130 $ (3,917,724) $ 2,262,524 *$250,000 of the Storm Utility Fund Balance has been reserved for Marsh Restoration Funding. *Please note that these revenues and expenses occur within annual cycles. This Interim Report is not adjusted for accruals or those annual cycles. 35 Packet Pg. 39 2.1.a SUMMARY OVERVIEW CHANGE IN FUND FUND BALANCES BALANCES CITY-WIDE ---- ACTUAL ---- ---- ACTUAL ---- 6/30/2021 6/30/2021 Q2 YTD Fund Balance Cash Balance Governmental Funds $ 44,058,847 $ 36,653,706 $ 12,067,216 $ 9,483,013 Enterprise Funds 94,795,254 30,336,130 (3,917,724) m 2,262,524 Internal Services Fund 10,195,791 5,664,532 209,624 241,372 Agency Funds 91,967 91,967 (17,311) c (43,148 c Total City-wide Total $ 149,141,860 $ 72,746,335 $ 8,341,806 $ 11,943,762 ii L L INTERNAL SERVICE FUNDS OVERVIEW r o N d C 3 7 1: O N FUND BALANCES CHANGE IN FUND M BALANCES •5 INTERNAL SERVICE ---- ACTUAL ---- ---- ACTUAL ---- cOa c FUNDS 6/30/2021 6/30/2021 Q2 YTD U+ Fund Balance Cash Balance a� 511 - Equipment Rental Fund $ 9,251,750 $ 4,825,928 $ 71,375 $ 147,954 512 -Technology Rental Fund 944,041 838,605 138,249 93,418 N 0 Total Internal Service Funds $ 10,195,791 $ 5,664,532 $ 209,624 $ 241,372 cm c a� r a� E O U r c m E t U r a *Please note that these revenues and expenses occur within annual cycles. This Interim Report is not adjusted for accruals or those annual cycles. 36 Packet Pg. 40 Monthly Budgetary Financial Report 6 Months Ended June 30, 2021 August 10 Finance Committee Meeting U r� u �1�CU Packet Pg. 41 What's happening in the Finance Department? • We are in the process of checking references for both the Systems Support Technician and the Deputy Administrative Services Director positions. I am hopeful that both positions will be filled soon. • The first six months have gone according to budget, nothing negative to report. Sales tax and REET continue to come in well ahead of budget. • We are busy collecting Decision Packages, revenue and expense projections, and other information for Budget 2022. OF Ebnj t 0�0 w Packet Pg. 42 Noteworthy things in the June report: • Page 1— REET is up $1,089,466 from this point in time last year • Page 3 — Property Tax collections are up $494,505 from this point in time last year • Page 3 — EMS Property Tax is up $215,369 from this point in time last year • Page 3 — Sales Tax is up $1,035,290 from this point in time last year (next slide) • Page 3 — Liquor Excise Tax is up $25,216 from this point in time last year • Page 4 — Plan Checking Fees are up $121,269 from this point in time last year • Page 4 — Parks & Recreation program fees are up $178,675 from this point in time last year • Page 4 —June of 2020 Engineering Overhead was not recorded until July of 2020 which is the main reason for the large difference between years. June 2020 Engineering Overhead totaled $185,092.59. 1 Packet Pg. 43 1 Sales tax update: Year -to -Date June 2021 sales tax revenues of $4,797,214 are $1,035,290 higher than the year-to-date amounts through June 2020: Change in Sales Tax Revenue. June 2021 compared to June 2020 Total Retail Automotive isc Retail Construction Trade Business Services Others Wholesale Trade Clothing and Accessories Manufacturing Eating & Drinking Retail Food Stores Conununications Automotive Repair Gasoline Health 8 Personal Care A c c on-nnodati on A-musenient & Recreation ($2007000) $0 $200,040 $400.000 $600,000 $800._000 $1.000,000 $1,200.000 L MQ � � r a 44 Packet Pg. ADMINISTRATIVE SER� 4NEWES TAX RWRTE run a ES MA D DRINKING PLACES" IN THE MONTH OF: $110,000 $90,000 $70,000 $50,000 $30,000 $10,000 00 00 0, rn m a, rn 0, am rn rn rn rn rn 0 0 0 0 0 0 0 0 0 0 0 0 $(10,000) N N cV N N N N N N N N N L L —_ >- >- S —_ >- 0 � 4- L L L L a) a) L L U L f0 O — ^ aJ W aJ a) L L U L (6 C — v W W W L L U �C �C m m L Q � 7 -C -0 -C -C m m L Q � 7 �C -0 -C -C f6 m L C C m b C O C C b C O C C IB v ai L ai a) L 0i v L Q v U cc Q v () ro O U + O U O a) LL Q O a) LL O- O a1 LL Z N Z Z in cn The complete six-month financial report is included in tonight's packet. Questions? Thank you. r� U Packet Pg. 46 2.1.c GENERAL FUND CHANGES IN FUND BALANCE 2020 2021 2016 2017 2018 2019 2020 (Jan -June) (Jan -June) Beginning Fund Balance 9,359,435 9,841,718 10,273,343 11,233,278 15,552,188 15,552,188 13,868,031 Revenue Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeitures Investment earnings Miscellaneous Operating Revenues Nonoperatine Revenues Transfers in Debt proceeds Sale of capital assets Insurance recoveries Total Revenue Expenditures General government Public safety Transportation Economic environment Mental and physical health Culture and recreation Debt service Capital outlay 29,403,794 29,572,203 30,755,578 30,846,665 30,738,451 14,966,286 16,881,848 2,269,313 2,506,800 2,401,855 2,299,972 2,276,861 1,224,166 1,203,207 1,261,998 890,572 1,014,434 1,008,432 1,633,633 373,701 938,675 5,403,786 5,463,913 5,810,961 6,419,836 5,412,044 2,647,090 3,181,196 522,051 459,929 616,783 496,093 287,693 143,579 177,919 (26,712) 154,739 273,226 573,806 265,631 143,897 176,458 441,432 471,675 931,495 587,882 322,816 111,384 147,536 39,275,661 39,519,831 41,804,331 42,232,687 40,937,130 19,610,103 22,706,839 82,695 26,300 75,884 4,793,650 1,535,800 17,900 165,176 549,095 - - - - - 58,451 7,143 5,273 - - - - 15,570 - 16,977 - - 39,965,902 39,553,274 41,901,058 47,026,337 42,489,907 19,628,003 22,872,014 9,969,187 9,714,867 10,288,694 11,565,563 12,302,936 6,130,868 5,907,983 20,128,896 22,228,871 22,585,212 23,036,185 23,760,951 11,643,388 11,951,306 3,600 3,600 4,779 5,012 5,012 2,924 1,671 1,313,430 1,551,152 1,460,763 1,562,702 1,675,334 806,053 874,739 70,814 126,791 178,859 164,888 357,808 117,048 31,629 3,773,633 3,959,731 4,331,806 4,158,397 3,732,644 1,822,013 2,052,897 196,663 198,361 197,694 197,967 296,624 69,285 60,087 56,662 90,573 93,105 110,935 835,049 9,053 - Operating Expenditures 35,512,885 37,873,946 39,140,912 40,801,649 42,966,358 Nonoperatine Expenditures Transfers out 3,414,141 1,247,703 1,800,212 1,905,778 1,206,990 Debt refunding 556,593 - - - Total Expenditures 39,483,619 39,121,649 40,941,124 42,707,427 44,173,348 Prior Period Adjustments - - - - 20,600,631 20, 880,312 449,033 234,945 21,049,664 21,115,256 Change in position 482,283 431,625 959,934 4,318,910 (1,683,442) (1,421,661) 1,756,758 Ending Fund Balance 9,841,718 10,273,343 11,233,278 15,552,188 13,868,746 14,130,527 15,624,789 0 m R .v c c� c ii 21 L d 0 CY N O N d c 7 J 0a a T N O N N C 7 C C t V Q R:\Finance Committee\2021\Jan-June 2021 P&L 7/29/2021 Packet Pg. 47 2.2 City Council Agenda Item Meeting Date: 08/10/2021 PFD Financial Presentation Staff Lead: Dave Turley Department: Administrative Services Preparer: Dave Turley Background/History The Edmonds Public Facilities District, per our Contingent Loan Agreement, is to make periodic financial reports to Council. Staff Recommendation Presentation only, no action is necessary. Narrative: Staff from the EPFD will give a financial presentation to Council. Tonight will also provide Committee members an opportunity to ask questions about the EPFD request for the City to refinance $2.6 million in bonds on their behalf, if there are any questions. Attachments: Memorandum to Edmonds Mayor M. Nelson EPFD ECA Financial Statements June 2021 Final Audited Financials 2020 Packet Pg. 48 2.2.a a E ®nos B 0 , B B B Public Facilities Disci f( TO: Mayor Mike Nelson FR: Edmonds Public Facilities District Board of Directors DA: June 7, 2021 RE: Request to Execute Refinancing of Edmonds Public Facilities District's 2012 Bonds At a Special Meeting of the Edmonds Public Facilities District Board of Directors on May 7, 2021, Rob Shelley of Piper Sandler, the District's Financial Advisor, presented background information and several possible scenarios for restructuring the District's outstanding capital debt. ECA staff also provided some additional context and a list of key decision points for the Board's consideration as it seeks to determine the best course of action. On May 27th, at a Regular Meeting of the District Board, ECA staff provided a recommendation to the Board outlining proposed timing, structure, and terms for refinancing a portion of the District's current debt. After careful consideration, the District Board voted to pursue the following: • Request that the City of Edmonds pursue a refinancing of the District's 2012 Bonds. These Bonds were issued by the City of Edmonds on behalf of the District in 2012, backed by the District's Sales Tax revenue streams, and were included in a larger refinancing package issued by the City that year. • Request that the new Bonds be issued once again in the name of the City of Edmonds to secure the best possible bond rating and lowest possible interest rate. • Extend this portion of the District's debt to the year 2041. This action will help the District meet a new legislative requirement outlined in the 2017 update to the PFD legislation, and will ensure that the Sales Tax Rebate from the State of Washington is secured through the current Public Facilities District sunset date of December 2041. • Request that the City make all efforts to refinance this debt prior to December 1, 2021. This will provide the District with short-term cash relief as it will not be required to make a principal payment on this debt in the current fiscal year. This may only be accomplished by issuing Taxable Bonds rather than Tax Exempt Bonds. However, moving to refinance this debt soon may also secure a lower interest rate for the District than it could secure if it waits for the natural call date of December 2022. c 0 a� z Packet Pg. 49 2.2.a The District has identified a list of positive outcomes from pursuing an early refinancing of the its 2012 Bonds, in partnership with the City of Edmonds: • Short-term cash flow relief for the District in 2021, which will greatly aid our operations as we recover from the pandemic shutdown and build toward a successful reopening. • Reduced annual debt payments, ensuring net positive cash flow from the District's Sales Tax Revenue streams through 2041. • Net positive cash flow beginning in 2021 will allow the District to pay down the other components of its debt (Direct Loan from the City of Edmonds, First Financial Bank Loan) more quickly. There is no penalty for early repayment of either of these loans. However, early repayment could save thousands of dollars in interest for the District in the coming years. • Once the District's other debts are retired, net positive cash flow could be invested in future capital improvements or replacements, and/or new projects. With positive cash flow from the Sales Tax Revenue streams, the District would focus first on early repayment of the City Loan first to further strengthen the partnership between the District and the City as projects like the 4t" Avenue Cultural Corridor and other mutually- M beneficial investments move forward. Z Early repayment of the Bank Loan would follow once the City Loan is repaid. This would help the District save on interest, but it should be noted that early repayment of this debt may also reduce the return the City is currently receiving from the corresponding Certificate of Deposit it made to help guarantee the Bank Loan for the District. Thank you for your consideration of this request. The Edmonds Public Facilities District Board and ECA staff are grateful for the partnership and support our organization receives from the City of Edmonds. Packet Pg. 50 2.2.b Edmonds Public Facilities District IS ea IV Statement of Revenue, Expenses and Changes in Net Position (Income Statement) eedmonndsle^ e.,o, mar s June, 2021 Amounts in thousands Col l Col 2 Col a Col 4 Col 5 Col 6 Col 7 Col a Col 9 Col 10 Col l June, 2021 FAVORABLE Year To Date ANNU FAV. ACTUAL UNFAVORABLE FAV. ACTUAL BUDG ACTUAL BUDGET (UNFAV.) %VAR. LAST ACTUAL BUDGET (UNFAV.) %VAR. LAST 12 MI VARIANCE YEAR VARIANCE YEAR TOT, Operating Revenues: $(0) $2 $(2) -108 % $(0) 1 Ticket Sales and Fees $(0) $2 $(2) -113 % $105 $3 31 34 (2) -7% 6 2 Rentals 134 142 (8) -6% 192 3 - - - 0 3 Education and Outreach - - - 13 4 - 4 0 4 Concessions 4 - 4 44 68 18 50 272 % 58 5 Contributions 388 319 69 22 % 564 1,2 - - - - 6 Advertising - - - 1 r (0) (0) 1 7 Historic Facility Preservation Fee (0) (0) 11 - - - - 8 Special Project Revenue - - - 32 Total Operating Revenue E $103 $54 $49 91 % $65 9 $524 $463 $61 13% $962 $2,0 O 10 U 11 Operating Expenses: 0 $7 $5 $(2) -47% $0 12 Artist Presentations and Theatre $8 $9 $2 18 % $80 $2 ++ - 2 2 100 % - 13 Rentals 3 9 6 67 % 11 C 3 8 5 61% 0 14 Advertising and Marketing 8 9 1 13% 32 O 1 2 1 58 % 1 15 Education and Outreach 17 24 7 30 % 36 4 1 (2) -189% 2 16 Development 18 19 1 5% 28 89 89 - 0% 81 17 Payroll and Employee Benefits 453 453 - 0% 675 1,2 d 6 9 3 38% 11 18 Facilities Maintenance and Utilities 55 49 (6) -11% 80 1 3 1 (2) -182% - 19 Minor Equipment 7 3 (4) -128% 1 1 6 5 83% - 20 Concessions and Merchandise 1 6 5 83% 16 d 8 8 0 3% 6 21 Insurance, Audit, and Legal 42 47 4 9% 39 1 - - - - 22 Special Project Expense - - - 32 U 8 8 (1) -8% 6 23 Supplies and Other 39 30 (9) -31 % 49 C $128 $138 $10 7% $108 24 Total Operating Expenses $651 $658 $7 1% $1,079 $2,0 to C 25 �y $(26) $(84) $58 69% $(43) 26 OPERATING SURPLUS (LOSS) $(126) $(195) $69 35% $(116) $( 27 LL 28 Non -Operating Revenue and (Expenses): 11 $69 $62 $7 12 % $56 29 Intergovernmental Rev (Sales Tax) $487 $487 $0) 0% $428 $9 v - - - 55 30 Grant Revenue Capital Related 34 34 0 1 % 59 0 0 (0) -82 % 0 31 Interest Earned 0 1 (1) -80 % 0 p - - - - 32 Gain (Loss) on Stock Sold (0) 0 (0) -159% 0 tV (11) (11) 0 3% (14) 33 Interest Expense (73) (68) (5) -7% (84) (1 (53) (52) (1) -1% (53) 34 Depreciation (316) (312) (4) -1% (315) (6 $6 $0) $7 647% $45 35 Total Non -Operating Surplus (Loss) $132 $142 $(10) -7% $88 $2 36 fn $(20) $(85) $65 77 % $2 37 TOTAL NET SURPLUS (LOSS) $6 $(52) $59 112 % $(28) $2 PFD ECA FINST 06-2021 IS 2 of 5 Packet Pg. 51 7/28/2021 11:44 AM Edmonds Public Facilities District pca 1V Statement of Net Position (Balance Sheet) edmonds e-ter for the arts June, 2021 Amounts in thousands 2.2.b BS June June December 2021 2020 2020 (Last ASSETS: Year End) Current Assets: Cash and Cash Equivalents - Unrestricted $168 $118 $100 Cash and Cash Equivalents - Restricted for Debt Service 272 64 71 Cash and Cash Equivalents - Facility Restricted 46 0 46 Cash and Cash Equivalents - Special Projects Restricted 6 41 22 Receivables from Customers 56 23 37 Pledges Receivables from Donors 149 106 128 Receivables from Other Governments 103 131 165 Inventories 5 6 8 Prepayments 52 62 60 Total Current Assets $857 $551 $637 Property, Plant and Equipment Land $3,445 $3,445 $3,445 Buildings and renovations 14,607 14,607 14,607 Equipment and technology 636 636 636 Construction in Progress 235 75 162 subtotal PPE $18,923 $18,762 $18,849 Accumulated Depreciation (8,713) (8,080) (8,397) Total PPE, net $10,210 $10,682 $10,453 Deferred Pension Asset $143 $148 $143 Total Assets $11,210 $11,381 $11,233 LIABILITIES: Current Liabilities: Accounts Payable $38 $175 $162 Payroll and Benefits Payable 54 44 40 Compensated Absences Liability $67 $36 $67 Unearned Ticket and Other Unearned Revenue 532 441 468 Customer Deposits Liabilities 29 29 28 Accrued Interest 32 21 5 Current Portion of Long -Term Debt 692 675 704 Total Current Liabilities $1,445 $1,420 $1,474 Long Term Debt: First Financial NW Bank (2018 note payable from refinancing) $2,243 Contractual Obligation to the City of Edmonds (2012 bonds) 2,185 Loan Payable to the City of Edmonds 1,216 Note Payable to DanSound (Equip loan) 4 Total Long -Term Debt $5,647 Non Current Libilities: Pension Liability Deferred Pension Libility Total Noncurrent Liabilities Total Liabilities Net Position: Net Investment in Capital Assets Restricted Unrestricted accumulated surplus/(deficit) Total Net Position Total Liabilities and Net Position PFD ECA FINST 06-2021 BS 391 109 $499 $7,592 $3,871 1,351 (1,603) $3,619 $11,210 3of5 $2,243 2,585 1,206 19 $6,053 346 195 $541 $8,015 $3,954 852 (1,440) $3,366 $11,381 $2,243 2,185 1,216 4 $5,647 391 109 $499 $7,620 4,102 986 (1,476) $3,613 $11,233 Packet Pg. 52 7/28/2021 11:44 AM eca V $600 $500 a $400 m o $300 ti $200 $100 Edmonds Public Facilities District June,2021 Graphs of Financial Statistics TOTAL OPERATING REVENUES F M A M J J A S O N ■ Actual 2021 ■ Budget 2021 ■ Last Year 2020 OPERATING SURPLUS (LOSS) F M A M J J A S O N ■ Actual 2021 ■ Budget 2021 ■ Last Year 2020 CASH BALANCES F M A M J J A S O N Actual 2021 Last Year 2020 TOTAL OPERATING EXPENSES $400 2.2.b GRAPHS $300 N r _ N � 7 � t $200 ++ H E E O $100 U O r C O $- r R r J F M A M J J A S O N D t= d ■ Actual 2021 ■ Budget 2021 ■ Last Year 2020 to N ♦Z U C TOTAL NET SURPLUS (LOSS) c $300 LL a $250 LL ♦Z $200 N a" $150 � G N N o' $100 C 3 $50 $ O N All $(50) r R $(100) N $(150) R J F M A M J J A S O N D ■ Actual 2021 Budget 2021 ■ Last Year 2020 TOTAL LONG-TERM DEBT $6,a0o $6,700 $6,600 a m $6,500 t $6,400 $6,300 $6,200 $6,100 J F M A M J J A S O N D Actual 2021 Last Year 2020 Packet Pg. 53 PFDECAFINST06-2021 Graphs 5&5 ""0" "' AL 2.2.c Financial Statements Audit Report Edmonds Public Facilities District For the period January 1, 2020 through December 31, 2020 Published July 6, 2021 ❑� •i ❑� Find out what's new at SAO Report No. 1028703 by scanning this code with your smartphone's camera Packet Pg. 54 2.2.c Office of the Washington State Auditor Pat McCarthy July 6, 2021 Board of Directors Edmonds Public Facilities District Edmonds, Washington Report on Financial Statements Please find attached our report on the Edmonds Public Facilities District's financial statements. We are issuing this report in order to provide information on the District's financial condition Sincerely, Pat McCarthy, State Auditor Olympia, WA Americans with Disabilities In accordance with the Americans with Disabilities Act, we will make this document available in alternative formats. For more information, please contact our Office at (564) 999-0950, IDD Relay at (800) 833-6388, or email our webmaster at webmaster&sao.wa.gov. Insurance Building, P.O. Box 40021 • Olympia, Washington 98504-0021 • (564) 999-0950 • Pat. McCarthy@sao.wa.gov Packet Pg. 55 Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards..................................................................................................... 4 Independent Auditor's Report on the Financial Statements............................................................ 6 FinancialSection............................................................................................................................. 9 About the State Auditor's Office................................................................................................... 48 Office of the Washington State Auditor sao.wa.gov Page 3 Packet Pg. 56 2.2.c Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Edmonds Public Facilities District January 1, 2020 through December 31, 2020 Board of Directors Edmonds Public Facilities District Edmonds, Washington We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the Edmonds Public Facilities District, a component unit of the City of Edmonds, as of and for the year ended December 31, 2020, and the related notes to the financial statements, which collectively comprise the District's basic financial statements, and have issued our report thereon dated June 29, 2021. As discussed in Note 11 to the 2020 financial statements, the full extent of the COVID-19 pandemic's direct or indirect financial impact on the District is unknown. INTERNAL CONTROL OVER FINANCIAL REPORTING In planning and performing our audit of the financial statements, we considered the District's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District's internal control. Accordingly, we do not express an opinion on the effectiveness of the District's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the District's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Office of the Washington State Auditor sao.wa.gov Page 4 Packet Pg. 57 2.2.c Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. COMPLIANCE AND OTHER MATTERS As part of obtaining reasonable assurance about whether the District's financial statements are free from material misstatement, we performed tests of the District's compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. PURPOSE OF THIS REPORT The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. However, this report is a matter of public record and its distribution is not limited. It also serves to disseminate information to the public as a reporting tool to help citizens assess government operations. Pat McCarthy, State Auditor Olympia, WA June 29, 2021 Office of the Washington State Auditor sao.wa.gov Page 5 Packet Pg. 58 2.2.c Report on the Financial Statements Edmonds Public Facilities District January 1, 2020 through December 31, 2020 Board of Directors Edmonds Public Facilities District Edmonds, Washington REPORT ON THE FINANCIAL STATEMENTS We have audited the accompanying financial statements of the Edmonds Public Facilities District, a component unit of the City of Edmonds, as of and for the year ended December 31, 2020, and the related notes to the financial statements, which collectively comprise the District's basic financial statements as listed on page 9. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the District's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District's internal control. Accordingly, we Office of the Washington State Auditor sao.wa.gov Page 6 Packet Pg. 59 2.2.c express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Edmonds Public Facilities District, as of December 31, 2020, and the changes in financial position and cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Matters of Emphasis As discussed in Note 11 to the 2020 financial statements, the full extent of the COVID-19 pandemic's direct or indirect financial impact on the District is unknown. Our opinion is not modified with respect to this matter. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and required supplementary information listed on page 9 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING STANDARDS In accordance with Government Auditing Standards, we have also issued our report dated June 29, 2021 on our consideration of the District's internal control over financial reporting and on our tests Office of the Washington State Auditor sao.wa.gov Page 7 Packet Pg. 60 2.2.c of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control over financial reporting and compliance. �� lvi�� e' Pat McCarthy, State Auditor Olympia, WA June 29, 2021 Office of the Washington State Auditor sao.wa.gov Page 8 Packet Pg. 61 2.2.c FINANCIAL SECTION Edmonds Public Facilities District January 1, 2020 through December 31, 2020 REQUIRED SUPPLEMENTARY INFORMATION Management's Discussion and Analysis — 2020 BASIC FINANCIAL STATEMENTS Statement of Net Position — 2020 Statement of Revenues, Expenses and Changes in Net Position — 2020 Statement of Cash Flows — 2020 Notes to Financial Statements — 2020 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Proportionate Share of Net Pension Liability — PERS 1, PERS 2/3 — 2020 Schedule of Employer Contributions — PERS 1, PERS 2/3 — 2020 Office of the Washington State Auditor sao.wa.gov Page 9 Packet Pg. 62 MANAGEMENT'S DISCUSSION AND ANALYSIS Edmonds Public Facilities District (the District) presents this Management's Discussion and Analysis of its financial activities for the fiscal year ended December 31, 2020. The Management's Discussion and Analysis is designed to: • Assist the reader in focusing on significant financial issues. • Provide an overview of the District's financial activity. • Identify changes in the District's financial position (its ability to meet future years' challenges). The Management's Discussion and Analysis focuses on the current year's activities, resulting changes and currently known facts. Therefore, it should be read in conjunction with the District's financial statements. OVERVIEW OF THE FINANCIAL STATEMENTS The financial statements provide information about the District's overall financial position and results of operations. These statements, which are presented on the accrual basis, consist of Management's Discussion and Analysis (this section), the Statement of Net Position; the Statement of Revenues, Expenses and Changes in Net Position; Statement of Cash Flows; and the Notes to the Financial Statements. The District is a business -type activity, the purpose of which is to construct, maintain and operate a performing arts center within the boundaries of the City of Edmonds. Business -type activities provide specific goods or services to a group of customers that are paid for by fees charged to those customers. There is a direct relationship between the fees paid and the services rendered. The District is also supported by a legally separate entity, a 501(c)(3) not -for -profit corporation called Edmonds Center for the Arts (ECA), the purpose of which is to assist the District with community outreach, audience development and securing contributions from private sources to help support the operation of the performing arts center. ECA's financial activities are included within the Financial Statements of the District, as the non-profit is a blended component unit of the District. 2.2.i Page 10 FINANCIAL STATEMENTS Statement of Net Position The Statement of Net Position presents information on all the District's assets, deferred inflows/outflows of resources and liabilities, with the difference between the two reported as net position. This statement is like the balance sheet of a private sector business. Over time, increases or decreases in net position may serve as useful indicators of improvement or deterioration in the District's overall financial position. Nonfinancial factors should also be considered to access the position of the District. Condensed Statement of Net Position 2020 2019 Current and other assets $637,019 $476,351 Capital assets(net) 10,452,654 10,924,739 Total assets 11,089,672 11,401,090 Deferred outflows of resources related to pensions 143,489 147,769 Total assets and deferred outflows of resources $11,233,161 $11,548,859 Current and other liabilities $1,406,680 $1,516,227 Long-term liabilities 6,105,066 6,443,115 Total liabilities 7,511,746 7,959,342 Deferred inflows of resources related to pensions 108,664 195,204 Total liabilities and deferred inflows of resources $7,620,410 $8,154,546 Net Position Net investment in capital assets $4,101,920 $4,185,209 Restricted 985,585 502,366 Unrestricted (1,474,755) (1,293,263) Total net position $3,612,750 $3,394,313 2.2.i Page 11 Statement of Revenues, Expenses and Changes in Net Position The Statement of Revenues, Expenses and Changes in Net Position presents increases (revenues and gains) and decreases (expenses and losses) in the District's net position during the current year. Condensed Statement of Revenues, Expenses and Changes in Net Position Revenues Operating revenues Non - operating revenues Total Revenues Expenses Operating Expenses Non - operating expense Total Expenses 2020 2019 $1,689,533 $2,759,725 1,030,291 1,003,298 $2,719,824 $3,763,023 $2,355,172 $3,487,923 146,215 233,241 $2,501,387 $3,721,164 Change in net position 218,438 41,859 Net position - beginning 3,394,313 3,352,455 Net position - end of period $3,612,750 $3,394,313 Analysis of Revenues, Expenses and Changes in Net Position: Revenues: The District's operating revenues decreased $1,070,192 or 38.78 % in 2020. The decrease was most significant in both Ticket Sales and Rental line items. Non -operating revenue the District noted a decrease in capital grant investments but continued growth intergovernmental revenue on the non -operating side of the organization in 2020. Expenses: Total operating expenses for the District decreased $1,132,751 or 32.48% over the prior period. Net Position & Capital Assets: The total net position of the District (assets in excess of liabilities) at December 31, 2020 was $3,612,750. There was an increase of $218,437 or 6.44% compared to December 31, 2019. The largest component of the District's net position is its investment in capital assets, less debt related to the acquisition of those assets. These assets, such as buildings and equipment, are used to provide services to citizens. As a result, these assets are not for sale, and are therefore not available to fund current District obligations (See Note 2). 2.2.i Page 12 $985,585 of the District's total net position was restricted. This restricted portion increased by $483,219, or 96.2% in 2020 (See Note 1 (f)), the District's unrestricted net position decreased by $181,943, or 14.1%. The remaining, unrestricted net position of the District may be used for functions of District operations such as employee salaries, programming, advertising, and supplies. Notes to the Financial Statements The Notes to the Financial Statements are integral to the financial statements. They immediately follow the Financial Statements in this report, and they provide additional disclosures essential to a full understanding of the statements. FINANCIAL CONDITION, RESULTS AND OUTLOOK Operating Performance In March 2020, Governor Inslee declared a state of emergency in response to the spread of a deadly new virus, COVID-19. In the weeks following the declaration, precautionary measures to slow the spread of the virus were ordered. These orders included canceling public events, limiting gathering sizes and requiring people to stay home unless leaving for an essential function. As of Mid - March 2020, the District furloughed all event staff, closed the facilities to the public, cancelled all events as well as meetings and performances. As of June 2020, all remaining administrative staff were placed on half-time for the duration of the year. Management is currently assessing long term financial impact on the organization and cash projections for the next five years. Management is continuing to work on revenue development during this period by focusing in on formatting its events around a phased reopening, targeted fundraising efforts and cost reduction. In FY 2020, the District incurred an operating loss before depreciation of $33,703, compared to last year in which we incurred a loss before depreciation in the amount of $100,128. There were several key factors that led to this decreased in operating loss. These items included: Payroll Expense: The District noted a combined decrease in payroll expenses of $427,369 or 28.67% compared to the prior year. Overall, the decrease in payroll costs were linked to the furlough and reduction of staff hours and on overall reduction of other expenses of $705,382. Other Expense: A decrease of all other expenses' due no events, artist presentation and theatre from $550,317 to $98,944 or 82.02% and a decrease in marketing expense from $156,904 to $37,617 or 76.03% Revenue Gain: The District noted an 8.36%, gain in its contributed operating revenue compared to the prior year. This was linked directly to our committed generous donor base, including our annual GALA event which was held virtually. The District continues to implement strategies to improve operating performance and improve its financial stability after such an unforeseen pandemic. The steps the District has taken include: 2.2.i Page 13 Strategic Planning: In May 2013, the Boards of Edmonds Public Facilities District and Edmonds Center for the Arts adopted a comprehensive Strategic Business Plan, which includes strategies designed to ensure the long-term financial stability and sustainability of the District and the Center. Beginning in June of 2017, the District and the Not -For -Profit Boards and staff embarked on a planning process to update the Strategic Business Plan for the next five-year period (2018 — 2022). The District and Non -Profit Boards officially approved the 5-year Strategic Business Plan at is joint Board meeting in December 2018. In 2019 and 2020, District department heads and board committees began implementing work plans based on the Strategic Business Plan objectives. These plan objectives focused primarily the further development of earned revenue by developing new rental business, expanding the non-profit donor base, analyzing the net profit of presented events before sponsorship, stewardship of District assets and the development of external partnerships. Non -Operating Performance The District's Intergovernmental Revenue, which exclusively funds its Bond Debt Service payments, comprises direct sales tax rebates from the State of Washington, contributions from Snohomish County Public Facilities District established by inter -local agreement, and a portion of net revenue generated by the operation of Edmonds Center for the Arts. The economic crisis that began in 2008 has resulted in average annual shortfalls of approximately $125,000 between projected sales tax revenues and actual receipts. Between 2011 and 2020, the District's annual bond payment obligations have been met, in part, with loans from the City of Edmonds as prescribed in a Contingent Loan Agreement (CLA) between the two entities signed in 2008 (see Note 3 in the accompanying Notes to the Financial Statements). Under the terms of the CLA, the City of Edmonds is contractually obligated to advance to the District, as a loan, the amount of any shortfall in the District's Debt Service Fund each year. The City of Edmonds pledges its full faith and credit thereto. The City will continue to provide the same contingent financial support to the District for the life of the bonds, or until such assistance is no longer required. The District has made excellent progress to secure new revenue streams to address these annual shortfalls in sales tax revenues resulting from the economic crisis, both to pay back past loans, and to eliminate the need for future loans from the City of Edmonds. In 2020, the District is able to report it was able to meet the 2012 debt services obligation to the City of $375,000. We did request and receive an extension of one year for the loan debt payment owed to Northwest First Financial bank. This extension has changed the maturity date from 12/31/2028 to 12/31/2029 (see Note 10). Increased Sales Tax Revenues: For the past six years, the City of Edmonds and Snohomish County have experienced significant increases in sales tax revenues. As macro -economic conditions continue to improve, the sales tax revenue the District receives has increased and has helped to close the gap between non -operating revenue and bond payments. The District received additional funds from Snohomish County Public Facilities District in 2020 (referred to as the "Tier 2" allocation) for the seventh time since FY 2009. The District received $178,847 in FY 2019 from this allocation, and as projected we received $238,464 in FY 2020, further closing the gap between sales tax revenues and bond debt expense. 2.2.i Page 14 Extension of Public Facilities District Legislation: In 2017 the Washington State Legislature passed House Bill 1201, and the Bill was subsequently signed into law by Governor Jay Inslee in April 2017 extending the sales tax rebate for Public Facilities Districts by a period of 15 years from 2027 to the year 2041. The extension of this funding source provides the District with several options for re -funding or refinancing its long-term debt for capital maintenance, replacement, and improvements, or for operations if required. In 2018, the District in collaboration with the Districts in the Public Facilities District completed the allocation process for the extended sales tax rebate and projects an additional $16 million dollars in tax revenue between the 2027 to 2041 period. REQUESTS FOR INFORMATION 2.2.i The following Financial Statements are designed to provide users with a general overview of the District's financial performance as well as to demonstrate accountability to its citizens, investors, creditors, and other customers. If you have a question about this report, please contact Edmonds Public Facilities District, 410 Fourth Avenue North, Edmonds, Washington, 98020, (425) 275-4485. Page 15 Edmonds Public Facilities District Statement of Net Position As of December 31, 2020 ASSETS: Current Assets: Cash and Cash Equivalents - Unrestricted 101,256 Cash and Cash Equivalents - Restricted 138,071 Customer Accounts Receivable 40,157 Pledges Receivable 127,702 Due from Other Governments 165,039 Inventory 5,270 Prepayments 59,523 Total Current Assets $ 637,019 Noncurrent Assets: Land $ 3,444,885 Construction in Progress 162,146 Buildings, Equipment, Furniture and Other Depreciable Assets 15,242,301 Accumulated Depreciation (8,396,678) Total Noncurrent Assets $ 10,452,654 TOTAL ASSETS $ 11,089,672 DEFERRED OUTFLOWS OF RESOURCES Deferred Outflows Related to Pensions 143,489 $ 143,489 LIABILITIES: Current Liabilities: Accounts Payable $ 162,261 Wages and Benefits Payable 39,889 Unearned Ticket Sales and Other Unearned Revenue 468,131 Liabilities for Customer Deposits 28,255 Accrued I nterest 4,635 Current Portion of Long -Term Liabilities 703,509 Total Current Liabilities $ 1,406,680 Noncurrent Liabilities: Loan Payable to First Financial NW Bank $ 2,242,813 Contractual Obligation to the City of Edmonds 2,185,000 Loan Payable to the City of Edmonds 1,215,552 Loan Payable to Dansound 3,860 Liability for Compensated Absences 67,138 Net Pension Liability 390,704 Total Noncurrent Liabilities $ 6,105,066 TOTAL LIABILITIES $ 7,511,746 DEFERRED INFLOWS OF RESOURCES Deferred Inflows Related to Pensions 108,664 $ 108,664 NET POSITION: Net Investment in Capital Assets 4,101,920 Restricted 985,585 Unrestricted (1,474,755) TOTAL NET POSITION $ 3,612,750 The notes to the financial statements are an integral part of this statement 2.2.E Page 16 Edmonds Public Facilities District Statement of Revenue, Expenses and Changes in Net Position For the Period Ended December 31, 2020 Operating Revenues Ticket Sales and Fees $ 109,635 Rentals 231,169 Education and Outreach 14,944 Concessions 44,122 Contributions 1,276,111 Advertising 975 Facilities 12,577 Total Operating Revenue $ 1,689,533 Operating Expenses: Artist Presentations and Theatre $ 98,944 Rentals 39,478 Education and Outreach 48,779 Development 64,142 Advertising and Marketing 37,617 Payroll, Taxes and Employee Benefits 1,063,064 Pension Expense under GASB 68 (1,058) Facilities Maintenance and Utilities 142,208 Contracted Services 1,692 Supplies and Other Operating Expenses 228,370 Depreciation 631,936 Total Operating Expenses $ 2,355,172 Operating Income (Loss) $ (665,639) Non -operating Revenue and (Expenses): Intergovernmental Revenue $ 898,873 Grant Revenue 130,806 Interest Expense (146,215) Interest Earned 601 Loss/Gain on Stock Realized 11 Non -Operating Income (Loss) $ 884,077 TOTAL NET INCOME (LOSS) $ 218,438 BEGINNING NET POSITION $ 3,394,313 END OF YEAR NET POSITION $ 3,612,750 The notes to the financial statements are an integral part of this statement 2.2.i Page 17 Edmonds Public Facilities District Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities: Ticket Sales 135,617 Rental Receipts 235,429 Concession Sales 45,089 Contributions Received 1,200,537 Payments to Artists (211,047) Payments to Suppliers (491,682) Payments to Employees (1,078,571) Other Outside Payments (103,451) Net cash provided (used) by operating activities $ (268,079) Cash Flows from Noncapital Financing Activities: Cash borrowed from the City of Edmonds $ 9,361 Cash flows from noncapital financing activities $ 9,361 Cash Flows from Capital and Related Financing Activities Receipt of sales taxes & other intergovernmental payments 850,596 Receipt of grant revenue 130,806 Principal paid on long-term debt Contractual obligation to the City of Edmonds (375,000) Principal paid Dansound (23,157) Principal paid loan payable City of Edmonds Principal paid to FFNFB Interest paid on long-term debt (137,269) Purchase of capital assets (159,851) Net cash flows from noncapital financing activities $ 286,125 Cash Flows from Investing Activities: Interest received on investments 601 Loss on sale of investment 11 Loss/Gain Fixed Assets - Net cash provided by investing activities $ 612 Total adjustments $ 28,018 Beginning Cash $ 211,309 Ending Cash $ 239,327 Reconciliation of Operating Loss to Net Cash Provided by Operating Activities Operating Loss $ (665,639) Adjustments to reconcile operating loss to net cash provided by operating activities: Depreciation 631,936 Changes in assets and liabilities: Accounts Receivables (82,606) Inventory 967 Prepayments (23,846) Account Payable (144,959) Salaries & Benefits Payable (47,346) Compensated Absences 30,781 Unearned revenues (2,514) Unearned customer deposits (9,820) Pension Liability 44,967 Net cash provided by operating activities $ (268,079) The notes to the financial statements are an integral part of this statement. 2.2.i Page 18 NOTES TO THE FINANCIAL STATEMENTS NOTE 1— SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies of Edmonds Public Facilities District (referred to hereafter as the "District"), which conform to generally accepted accounting principles for governments as prescribed by the Governmental Accounting Standards Board (GASB), are regulated by the Washington State Auditor's Office. The District's financial statements are comprised of the accounts of the District per se, a government body, and its private -sector not -for -profit affiliate, Edmonds Center for the Arts (ECA). The District's significant accounting policies are described below. ECA follows accounting standards promulgated by the Financial Accounting Standards Board. It applies those standards by utilizing guidance contained in the American Institute of Certified Public Accountants Audit and Accounting Guide, "Not -for Profit Entities." Financial statements for ECA alone are included in its Form 990, filed annually with the Internal Revenue Service. Copies of Forms 990 filed by ECA for the three most recent years may be downloaded without charge from the website of Guidestar, Inc. (http://www.guidestar.org/). 2.2.i For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of all state sponsored pension plans and additions to/deductions from those plans' fiduciary net position have been determined on the same basis as they are reported by the Washington State Department of Retirement Systems. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. A. Reoortine Entit The Edmonds Public Facilities District was established under the authority of the Laws of the State of Washington, 1999, Chapter 165, pursuant to Ordinance No. 3358 of the City Council of the City of Edmonds, passed on April 24, 2001. Under RCW 35.57 the City has authority to form a public facilities district for the purposes, inter alia, of acquiring, constructing, operating, promoting, and financing a regional center. Edmonds Public Facilities District developed a performing arts center within the city of Edmonds called Edmonds Center for the Arts that provides for meetings, conferences, community events, sporting events, trade shows, and artistic, musical theatrical, or other cultural exhibitions, presentations or performances to the City, the County, and the entire state and their residents. Edmonds Center for the Arts is a strong contributor to the economic vitality of the region and is a source of great pride to the community and its patrons, staff, and volunteers. The District is a municipal corporation in the State of Washington. It is a discrete component unit of the City of Edmonds. Its governing board is appointed by the City Council of Edmonds and comprises of five members who serve staggered four-year terms, with one term renewal permitted. ECA is a not -for -profit corporation organized and operated in conformity with Section 501(c) (3) of the Internal Revenue Code. ECA's activities are limited to providing support for the District and its performing arts center. ECA conducts various activities to raise funds, primarilyfrom private- sector sources, including individuals, corporations and other businesses, and foundations. Its eighteen -member Board of Directors is appointed by the Board of the District for three-year terms renewable two times. ECA Board members provide advice and counsel to the entity. ECA's financial activities are included within the Financial Statements of the District, as the non-profit is a blended component unit of the District. Page 19 Edmonds Center for the Arts is grateful to host our performances and programs on the culture -rich indigenous lands of the Coast Salish people. On behalf of our staff, Boards, and volunteers, we are committed to working with local tribes to acknowledge and honor their ancestral lands. B. Basis of Accounting The District uses the economic resources measurement focus and full accrual basis of accounting, revenues are recognized when earned and expenses are recorded when incurred. Regardless of the timing of the cash flows. The District's operating expenses include all costs associated with its presenting, rental and concessions businesses, as well as the costs associated with administration and fundraising. Financial costs, principally interest expense, are recorded as non -operating expenses. 2.2.i The District receives and records operating revenue from the sources described below. Sales tax rebate receipts, intergovernmental revenues, as well as interest and other investment revenues as non -operating iNTAMn«19 (1) Ticket Sales to ECA Presentations are recorded as a liability, "Unearned Revenue," until the date of the performance. Ticket revenue is therefore recognized as earned on the date of each performance. Tickets returned by patrons prior to performances are reclassified as contribution revenue at amounts equal to the original ticket sale price and placed back into ticket inventory for resale. (2) Rental Revenue is derived from rentals of the auditorium, as well as other spaces in the facility. Rentals received in advance are recorded as "Unearned Revenue," a current liability on the Statement of Net Position. Unpaid rents are recorded as accounts receivable. (3) Sales Tax Revenue and Intergovernmental Revenue are recorded as non -operating revenues on the Statement of Revenues, Expenses and Changes in Net Position. District sales tax revenue represents a rebate of a portion of State of Washington sales taxes assessed and collected within the District. Intergovernmental revenue consists of the proceeds of an Inter -Local Agreement between the City of Edmonds, Edmonds Public Facilities District, Snohomish County, and the Snohomish County Public Facilities District. That agreement provides for rebates of sales taxes assessed and collected elsewhere in Snohomish County to public facilities districts in the county, including the District. Under the agreements which generate these revenues, they must be used first to pay the annual principal and interest on the District's long-term debt. The debt that must be so serviced comprises the District's 2012 Contractual Obligation to the City of Edmonds (see Note 3). Loan payable to First Financial Northwest Bank (see Note 3). Loan payable to the City of Edmonds (see Note 3). In any fiscal year in which the Sales Tax and Intergovernmental Revenues exceed the amounts required to service those three liabilities, the excess may be used by the District for operations, capital expenditures, or other debt reduction. In the event the District lacks sufficient non -voted debt capacity to incur indebtedness resulting from a loan from the City, the District shall incur indebtedness for an amount equal to the District's remaining non -voted debt capacity, if any, and any loan amount greater than the District's then -remaining non -voted debt capacity shall be deemed an equity payment by the City to the District in exchange for an interest in the Regional Center, which need not be repaid. Within 60 days after any such equity payment by the City, Page 20 2.2.i the District shall deliver to the City a quitclaim deed conveying to the City a tenancy -in -common interest in the Regional Center. Such interest shall be a percentage ownership interest in the Regional Center, the numerator of which shall be the sum of such equity payment and the costs of transferring title and recording such quitclaim deed, and the denominator of which shall be the aggregate original principal amounts of: (a) the Refunded Bonds, (b) all bonds issued by the City to finance the Regional Center, and (c) any other bonds issued by the District to finance the Regional Center (excluding from clause (c) the Note, the Prior Note (as defined in the Original Agreement) and any bonds, or any portion thereof, issued to refinance bonds issued by the City or the District to finance the Regional Center). The Sales Tax and Intergovernmental Revenues are recorded as revenue during the fiscal period in which they are assessed. Revenues earned but not yet received are recorded as receivables. (4) Contributions are the principal revenue source for Edmonds Center for the Arts. They are received in three different forms: cash donations, donation of financial instruments, and donated performance tickets. Contributions are recorded as revenue when they are in the form of voluntary unconditional promises to give. ECA records donations as revenue on the date of receipt. ECA's policy is to sell donated financial instruments immediately thereafter. Donated tickets are placed back into inventory for sale to the public. C. Cash and Cash Equivalents In the statement of Net Position, Cash and Equivalents includes cash in the bank and short-term investments held in the Washington State Local Government Investment Pool (LGIP), these investments are reported at amortized cost. D. Receivables Customer accounts receivable consist of amounts due from private individuals or organizations for goods and services. Pledged receivables consist of amounts due on promised contributions. The amount due from governments consists of sales tax and sponsorships. Total receivables are listed below: Customers $ 40,157 Pledges from Private Sources $127,702 Due from Government $165,039 Total Receivables $ 332,898 E. Inventories Inventories consist primarily of goods held for sale as concessions. Inventories are valued at historic cost under the FIFO identification method. Balance at 12/31/2020, $5,270. This resulted in a decrease of $967 from 2019. F. Restricted Assets These accounts contain resources for debt services, grants, and facilities. Specific debt service reserve requirements are described in (Note 3). Page 21 2.2.i The District implemented a facility ticket fee in 2017 which are designated for specific purposes generally not part of the Operating Budget. Specifically, for the sole purpose of making capital improvements, or to make emergency maintenance outside of the normal day to day operations of the facility with authorization from the EPFD Board. The amount due from governments consists of sales tax, contributions made from Snohomish County Tax and Lodging, Edmonds Arts Commission, City of Edmonds Diversity Commission (posted to revenue but not collected) and Donor restricted cash. From time to time, the District has found it necessary to obtain its Board authority and approval to transfer funds temporarily to its Operations fund (Inter -fund Loan). The restricted assets are composed of the following: Cash — Debt Service $ 70,909 Cash — Facilities $ 45,669 Cash — Donation $ 21,493 Due from Governments $ 165,039 Inter -fund Loan $682,475 Total Restricted Assets $ 985,585 G. Compensated Absences Employees who work 30 or more hours per week earn compensated vacation each pay period based on the number of hours worked. The amount of paid leave an employee can earn depends on their length of service with the organization and the number of hours they are regularly scheduled to work each week. A maximum of 30 unused vacation days may be carried over from one year to the next. Due to the Pandemic, the Board authorized management to extend the accrual of compensated absences to employees who worked 30 hours or more prior to March 2020, and whose hours were reduced to 20 or more hours still accrue as though they work 30 or more hours per week. This enhanced accrual will return to the pre-covid accrual rate when staff return to full time working status. The Districts long term year's liability at December 31, 2020 was $67,138. This resulted in an increase of $30,781 from 2019. H. Deferred Outflows/Inflows of Resources In the Statement of Net Position, Deferred Outflows/Inflows of Resources is related to pensions. (See Note 6.) NOTE 2 — CAPITAL ASSETS Capital assets include land, buildings, equipment, and technology/software. The District capitalizes purchased items having a useful life of more than one year and an acquisition value more than $2,000. Due to the size of our organization the Board changed the policy from $5,000 to $2,000 in fiscal year 2019. Purchased assets are recorded at cost when placed in service. The District's major capital asset is its 2006 renovated auditorium and the un-renovated structure of which it forms a part. That building is being depreciated over a 25-year life using the straight- line method. Other capital assets are depreciated Page 22 over a period of 15 years or less using the straight-line method. Land and construction in progress are not depreciated. Donated Assets are valued at acquisition cost. For major maintenance or replacements of the 2006 renovation components (pre-existing asset), the district adjusts the asset record for the addition and the removal. Capitalizes subsequent replacements or major maintenance (ex: such as new roof) and adjusts the existing asset record (and accumulated depreciation) for the removal or disposal (ex: such as of the old roof). To determine how to evaluate the component costs removed from the larger, the removal of the asset record will be determined by using an Inflation Calculator https://www.usinflationcalculator.com/. After removing accumulated depreciation, a gain or loss of the disposal would be recognized. The new asset will be depreciated over the life of the asset. The schedule that follows shows beginning and ending balances, as well as the changes in capital assets and accumulated depreciation during the year ended December 31, 2020. Schedule of Capital Asset Activity Balance Balance 1/1/2019 12/31/2020 Increases Decreases Land 3,444,885 3,444,885 Construction in Progress 2,295 159,851 162,146 Total capital assets, non -depreciable: $3,447,180 159,851 $3,607,031 Capital assets, depreciable: Building 14,647,619 14,647,619 Furniture and Equipment 565,904 565,904 Technology and Software 28,778 28,778 Total capital assets depreciable: $15,242,301 $15,242,301 Less accumulated depreciation for: (7,400,637) (587,638) (7,988,275) Building Furniture and Equipment (335,326) (44,299) (379,625) Technology and Software (28,778) (28,778) Total accumulated depreciation: (7,764,741) (631,937) (8,396,678) Total net depreciable capital assets: $7,477,560 (631,937) $6,845,623 Total capital assets, net: $10,924,739 (631,937) $10,452,654 2.2.i Page 23 NOTE 3 — LONG-TERM DEBT 2.2.i In 2008, Edmonds Public Facilities District issued Sales Tax Obligation and Refunding Bonds in the amount of $4,000,000. The bond proceeds were used to refund the District's outstanding balance on its 2005 General and Revenue Obligation Line of Credit ($3,883,804). The remaining proceeds were used to pay bond issuance costs and a portion was placed in reserve for future debt payments. The Bonds were issued pursuant to chapters 35.57 and 39.46 of the Revised Code of Washington and Resolution No. 27 adopted by the District's Board of Directors. When the Sales Tax Obligation and Refunding Bonds were issued, the District entered into a Contingent Loan Agreement (CLA) with the City of Edmonds (the City) providing credit support for the bonds. The CLA (original agreement dated July 14th, 2008) states that the City pledges its "full faith, credit and resources" in an "absolute and unconditional" obligation to lend money to the District for paying debt service on the bonds. The total principal and interest due on the CLA at December 31, 2020 is $1,215,552. Interest accrues on the outstanding balance at the Local Government Investment Pool rate as determined as of the last day of each month in which the loan is outstanding and shall change monthly as of the first day each month in which the loan is outstanding. Unless paid earlier, all loans shall mature on December 31', 2028. Resolution No. 2018-2, adopted on October 25, 2018, and entitled " A resolution of the District providing for the issuance of a note in the principal amount of not to exceed $3,000,000, to provide funds with which to repay and redeem in a current refunding of its outstanding Sales Tax Obligation and refunding bonds, 2008, and pay the costs of issuance of the note and administering the refunding plan; The 2008 Sales Tax Obligation and Refunding Bonds were refinanced in 2018. The District borrowed $2,803,516 from First Financial Northwest Bank. The Amended Contingent Loan Agreement (CLA): This first amended and restated CLA is dated November 15th, 2018 and amends and restates the CLA dated July 14th, 2008 (the original agreement), by and between the City of Edmonds and the District. The City of Edmonds and the District entered into this agreement solely for the purpose of providing credit support for the District's Loan (promissory) note, 2018 issued in the amount of $2,803,516. Under the new CLA the District did not borrow any funds. The loan amount did not exceed the amount necessary to refund the Refunded 2008 Bonds and pay the cost of issuance and sale of the note. Page 24 NOTE 3 — LONG-TERM DEBT Loan: First Financial Northwest Bank outstanding as follows: Interest Balance Paid in Balance Issue Name Rates 12/31/2019 2020 12/31/2020 First Financial Northwest 3% $2,523,164 0 $2,523,164 Bank Following is a table which reflects debt service to maturity for the Contractual Obligation to the First Financial Northwest Bank: Year Principal Interest Total 2021 280,352 76,957 357,308 2022 280,352 68,219 348,571 2023 280,352 59,692 340,043 2024 280,352 51,164 331,516 2025-2029 1,401,756 128,048 1,529,806 $2,523,164 $384,080 $2,907,244 Contractual Obligation to the City of Edmonds 2012: 2.2.i In 2002, Edmonds Public Facilities District became obligated under an inter -local agreement with the City of Edmonds to apply its receipts of sales tax revenues to the City over the life of the City's Limited General Obligation Bonds issued in 2002. A major portion of the proceeds of that bond issue was used for the acquisition, renovation, and initial operation of a Performing Arts Center by the District. On October 12, 2012, the City of Edmonds refunded the 2002 Limited Tax General Obligation Refunding Bonds with a face amount of $5,650,000. The 2012 refunding bonds are in total a liability of the City of Edmonds and are not reported as liability of the District. However, the District remains contractually obligated to the City of Edmonds to continue to apply its sales tax receipts to the City under the Inter - local agreement as per the schedule below. The liability to the City has been appropriately recorded on the District's Statement of Net Position as "Contractual Obligation to the City of Edmonds." The amount of the District's obligation to the City at the date of refunding was $4,965,000 with interest rates ranging from 1.75% to 3.0%, depending on the maturity of each principal installment. The bonds are scheduled to be retired in annual amounts beginning in 2013 and continuing through 2026. Page 25 NOTE 3 — LONG-TERM DEBT District Contractual Obligation to the City of Edmonds currently outstanding as follows: Interest Balance Paid in Balance Issue Name Rates 12/31/2019 2020 12/31/2020 Contractual Obligation to 1.75%-3% $2,960,000 $375,000 $2,585,000 the City of Edmonds Following is a table which reflects debt service to maturity for the Contractual Obligation to the City of Edmonds: Year Principal Interest Total 2021 400,000 53,093 453,093 2022 430,000 41,093 471,093 2023 455,000 32,493 487,493 2024-2026 1,300,000 46,620 1,346,620 $2,585,000 $173,299 $2,758,299 A promissory note was issued with DanSound to facilitate the purchase of the District's Meyer Melodie sound array for use in the theater. The purchase of this equipment was funded by a Snohomish County Grant awarded in 2018 for theater upgrades. A portion of the grant was allocated as a $30,000 down payment for the upgrade, and a promissory note was issued at zero percent interest for the remaining balance. The District has benefited from this arrangement as previously when artists contract's required enhanced sound equipment, the District would be required to rent this equipment. By owning this sound equipment, the District saves on average over $20,000 a year inclusive of the annual payments noted above. Promissory Note to DanSound currently outstanding as follows: Interest Balance Paid in Balance Issue Name Rates 12/31/2019 2020 12/31/2020 Note Payable to 0 0% $50,174 $23,157 $27,017 Dansound 2.2.i Page 26 NOTE 3 — LONG-TERM DEBT Following is a table which reflects debt service to maturity for the Promissory Note Payable to DanSound: Year Principal Interest Total 2021 23,157 0.00 23,157 2022 3,860 0.00 3,860 $27,017 $0.00 $27,017 NOTE 4—CHANGES IN LONG-TERM LIABILITIES During the year ended December 31, 2020, the following changes occurred in long-term liabilities: 2.2.i Due Balance Balance Within Issue Name 12/31/2019 Additions Reductions 12/31/2020 One Year First Financial Northwest Bank 2,523,164 2,523,164 280,352 Contractual Obligation: City 2,960,000 (375,000) 2,585,000 400,000 of Edmonds CLA - City of Edmonds 1,206,191 9,361 1,215,552 0 DanSound 50,174 (23,157) 27,017 23,157 Net Pension Liability 345,737 44,967 390,704 0 Compensated Absences 36,357 30,781 67,138 0 Total Long -Term Liabilities $7,121,623 $85,109 ($398,157) $6,808,575 $703,509 Page 27 NOTE 5 — OTHER INCOME In August of 2020, the District began the process of renovating its Theatre, Sound and Meeting Rooms, through a Snohomish County Lodge Tax Advisory Committee grant in the amount of $125,000. This project has provided new equipment and facilitate more efficient services for the Districts patrons. The improved operations eventually are expected to create increased ticket and concessions revenue. The District also received a $53,000 Community Development Block Grant through Snohomish County which funded its Barrier Removal Project in its theater. This project was funded to reopen the egress in the center of the auditorium by moving its sound mixing station back opening the cross -theater aisle. These modifications doubled ADA accessible seating on the main level of the theater, including an ADA wheelchair and companion seat in the center of the house. The project launched in the 3rd quarter of 2020 and was completed in early 2021. The District received two grants in FY 2015 for replacing the gymnasium roof: $225,000 from Snohomish County, and $250,000 from the State of Washington, for a total of $475,000 for the project. Since the roof replacement project is complete, any remaining funds from the State appropriation may be invested to help address additional improvements in the gymnasium. During 2020, the continued improvements were invested in the gymnasium by replacing a non-functioning scoreboard. These improvements will increase the marketability of this section of the building. From the above grants, we received $130,806 in 2020. 2.2.i Page 28 NOTE 6 — PENSION PLANS The following table represents the aggregate pension amounts for all plans for the year 2020: Aggregate Pension Amounts —All Plans Pension liabilities $ 390,704 Pension assets $ 0 Deferred outflows of resources $ 143,489 Deferred inflows of resources $ 108,664 Pension expense/expenditures $ 58,893 State Sponsored Pension Plans 2.2.i Substantially all Edmonds Public Facilities District full-time and qualifying part-time employees participate in one of the following statewide retirement systems administered by the Washington State Department of Retirement Systems, under cost -sharing, multiple -employer public employee defined benefit and defined contribution retirement plans. The state Legislature establishes, and amends, laws pertaining to the creation and administration of all public retirement systems. The Department of Retirement Systems (DRS), a department within the primary government of the State of Washington, issues a publicly available Comprehensive Annual Financial Report that includes financial statements and required supplementary information for each plan. The DRS Comprehensive Annual Financial Report may be obtained by writing to: Department of Retirement Systems Communications Unit P.O. Box 48380 Olympia, WA 98540-8380 Or the DRS Comprehensive Annual Financial Report may be downloaded from the DRS website at www.drs.wa.gov. Public Employees' Retirement System (PERS) PERS members include elected officials; state employees; employees of the Supreme, Appeals and Superior Courts; employees of the legislature; employees of district and municipal courts; employees of local governments; and higher education employees not participating in higher education retirement programs. PERS is comprised of three separate pension plans for membership purposes. PERS plans 1 and 2 are defined benefit plans, and PERS plan 3 is a defined benefit plan with a defined contribution component. PERS Plan 1 provides retirement, disability and death benefits. Retirement benefits are determined as two percent of the member's average final compensation (AFC) times the member's years of service. The AFC is the average of the member's 24 highest consecutive service months. Page 29 Members are eligible for retirement from active status at any age with at least 30 years of service, at age 55 with at least 25 years of service, or at age 60 with at least five years of service. Members retiring from active status prior to the age of 65 may receive actuarially reduced benefits. Retirement benefits are actuarially reduced to reflect the choice of a survivor benefit. Other benefits include duty and non -duty disability payments, an optional cost -of -living adjustment (COLA), and a one-time duty - related death benefit, if found eligible by the Department of Labor and Industries. PERS 1 members were vested after the completion of five years of eligible service. The plan was closed to new entrants on September 30, 1977. Cnntrihutinnt The PERS Plan 1 member contribution rate is established by State statute at 6 percent. The employer contribution rate is developed by the Office of the State Actuary and includes an administrative expense component that is currently set at 0.18 percent. Each biennium, the state Pension Funding Council adopts Plan 1 employer contribution rates. The PERS Plan 1 required contribution rates (expressed as a percentage of covered payroll) for 2020 were as follows: PERS Plan 1 Actual Contribution Rates Employer Employee January — August 2020 PERS Plan 1 7.92% 6.00% PERS Plan 1 UAAL 4.76% Administrative Fee 0.18% Total 12.86% 6.00% September— December 2020 PERS Plan 1 7.92% 6.00% PERS Plan 1 UAAL 4.87% Administrative Fee 0.18% Total 12.97% 6.00% 2.2.i Page 30 2.2.i The PERS Plan 2/3 provides retirement, disability, and death benefits. Retirement benefits are determined as two percent of the member's average final compensation (AFC) times the member's years of service for Plan 2 and 1 percent of AFC for Plan 3. The AFC is the average of the member's 60 highest -paid consecutive service months. There is no cap on years of service credit. Members are eligible for retirement with a full benefit at 65 with at least five years of service credit. Retirement before age 65 is considered an early retirement. PERS Plan 2/3 members who have at least 20 years of service credit and are 55 years of age or older, are eligible for early retirement with a benefit that is reduced by a factor that varies according to age for each year before age 65. PERS Plan 2/3 members who have 30 or more years of service credit and are at least 55 years old can retire under one of two provisions: • With a benefit that is reduced by three percent for each year before age 65; or With a benefit that has a smaller (or no) reduction (depending on age) that imposes stricter return - to -work rules. PERS Plan 2/3 members hired on or after May 1, 2013 have the option to retire early by accepting a reduction of five percent for each year of retirement before age 65. This option is available only to those who are age 55 or older and have at least 30 years of service credit. PERS Plan 2/3 retirement benefits are also actuarially reduced to reflect the choice of a survivor benefit. Other PERS Plan 2/3 benefits include duty and non -duty disability payments, a cost -of -living allowance (based on the CPI), capped at three percent annually and a one-time duty related death benefit, if found eligible by the Department of Labor and Industries. PERS 2 members are vested after completing five years of eligible service. Plan 3 members are vested in the defined benefit portion of their plan after ten years of service; or after five years of service if 12 months of that service are earned after age 44. PERS Plan 3 defined contribution benefits are totally dependent on employee contributions and investment earnings on those contributions. PERS Plan 3 members choose their contribution rate upon joining membership and have a chance to change rates upon changing employers. As established by statute, Plan 3 required defined contribution rates are set at a minimum of 5 percent and escalate to 15 percent with a choice of six options. Employers do not contribute to the defined contribution benefits. PERS Plan 3 members are immediately vested in the defined contribution portion of their plan. Cnntrihutinns The PERS Plan 2/3 employer and employee contribution rates are developed by the Office of the State Actuary to fully fund Plan 2 and the defined benefit portion of Plan 3. The Plan 2/3 employer rates include a component to address the PERS Plan 1 UAAL and an administrative expense that is currently set at 0.18 percent. Each biennium, the state Pension Funding Council adopts Plan 2 employer and employee contribution rates and Plan 3 contribution rates. The PERS Plan 2/3 required contribution rates (expressed as a percentage of covered payroll) for 2020 were as follows: Page 31 PERS Plan 2/3 Actual Contribution Rates Employer 2/3 Employee 2 January — August 2020 PERS Plan 2/3 7.92% 7.90% PERS Plan 1 UAAL 4.76% Administrative Fee 0.18% Employee PERS Plan 3 Varies Total 12.86% 7.90% September — December 2020 PERS Plan 2/3 7.92% 7.90% PERS Plan 1 UAAL 4.87% Administrative Fee 0.18% Employee PERS Plan 3 Varies Total 12.97% 7.90% 2.2.i The Districts actual PERS plan contributions were $36,244 to PERS Plan 1 and $59,951 to PERS Plan 2/3 for the year ended December 31, 2020. Actuarial Assumptions The total pension liability (TPL) for each of the DRS plans was determined using the most recent actuarial valuation completed in 2020 with a valuation date of June 30, 2019. The actuarial assumptions used in the valuation were based on the results of the Office of the State Actuary's (OSA) 2013-2018 Experience Study and the 2019 Economic Experience Study. Additional assumptions for subsequent events and law changes are current as of the 2019 actuarial valuation report. The TPL was calculated as of the valuation date and rolled forward to the measurement date of June 30, 2020. Plan liabilities were rolled forward from June 30, 2019, to June 30, 2020, reflecting each plan's normal cost (using the entry -age cost method), assumed interest and actual benefit payments. • Inflation: 2.75%total economic inflation; 3.50%salary inflation Salary increases: In addition to the base 3.50%salary inflation assumption, salaries are also expected to grow by promotions and longevity. Page 32 • Investment rate of return: 7.4% 2.2.i Mortality rates were developed using the Society of Actuaries' Pub. H-2020 mortality rates, which vary by member status, as the base table. The OSA applied age offsets for each system, as appropriate, to better tailor the mortality rates to the demographics of each plan. OSA applied the long-term MP-2017 generational improvement scale, also developed by the Society Actuaries, to project mortality rates for every year after the 2010 base table. Mortality rates are applied on a generational basis; meaning, each member is assumed to receive additional mortality improvements in each future year throughout his or her lifetime. There were changes in methods and assumptions since the last valuation. • OSA updated its demographic assumptions based on the results of its latest demographic experience study. See OSA's 2013-2018 Demographic Experience Study at leg.wa.gov/osa. • OSA updated the Early Retirement Factors and Joint -and -Survivor factors used in its model to match the ones implemented by DRS on October 1, 2020. These factors are used to value benefits for members who elect to retire early and for survivors of members that die prior to retirement. • The valuation includes liabilities and assets for Plan 3 members purchasing Total Allocation Portfolio annuities when determining contribution rates and funded status. Discount Rate The discount rate used to measure the total pension liability for all DRS plans was 7.4 percent. To determine that rate, an asset sufficiency test was completed to test whether each pension plan's fiduciary net position was sufficient to make all projected future benefit payments for current plan members. Based on OSA's assumptions, the pension plans' fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return of 7.4 percent was used to determine the total liability. Long -Term Expected Rate of Return The long-term expected rate of return on the DRS pension plan investments of 7.4 percent was determined using a building -block -method. In selecting this assumption, the Office of the State Actuary (OSA) reviewed the historical experience data, considered the historical conditions that produced past annual investment returns, and considered Capital Market Assumptions (CMA's) and simulated expected investment returns provided by the Washington State Investment Board (WSIB). The WSIB uses the CMA's and their target asset allocation to simulate future investment returns at various future times. Estimated Rates of Return by Asset Class Best estimates of arithmetic real rates of return for each major asset class included in the pension plan's target asset allocation as of June 30, 2020, are summarized in the table below. The inflation component used to create the table is 2.2 percent and represents the WSIB's most recent long-term estimate of broad economic inflation. Page 33 Target Allocation % Long -Term Expected Real Rate of Return Arithmetic Fixed Income 20% 2.20% Tangible Assets 7% 5.10% Real Estate 18% 5.80% Global Equity 32% 6.30% Private Equity 23% 9.30% 100 % Sensitivity of the Net Pension Liability/(Asset) The table below presents the District's proportionate share of the net pension liability calculated using the discount rate of 7.4 percent, as well as what the District's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower (6.4 percent) or 1- percentage point higher (8.4 percent) than the current rate. 1% Decrease (6.4%) Current Discount Rate (7.4%) 1% Increase (8.4%) PIERS 1 $ 4,422,202,000 $ 3,530,540,000 $ 2,752,919,000 0.007533% 333,124 265,956 207,377 PIERS 2/3 7,957,926,000 1,278,943,000 (4,221,203,000) 0.009754% 776,216 124,748 (411,736) 2.2.E Page 34 Pension Plan Fiduciary Net Position Detailed information about the State's pension plans' fiduciary net position is available in the separately issued DRS financial report. Pension Liabilities (Assets), Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At June 30, 2020, the District reported a total pension liability of $390,704 for its proportionate share of the net pension liabilities as follows: Liability (or Asset) PERS 1 $265,956 PERS 2/3 $124,748 At June 30, 2020, the District's proportionate share of the collective net pension liabilities was as follows: Proportionate Proportionate Change in Share 6/30/20 Proportion Share 6/30/19 PERS 1 .006779% .007533% .000754% PERS 2/3 .008757% .009754% .000997% Employer contribution transmittals received and processed by the DRS for the fiscal year ended June 30 are used as the basis for determining each employer's proportionate share of the collective pension amounts reported by the DRS in the Schedules of Employer and Nonemployer Allocations. The collective net pension liability (asset) was measured as of June 30, 2020, and the actuarial valuation date on which the total pension liability (asset) is based was as of June 30, 2019, with update procedures used to roll forward the total pension liability to the measurement date. Pension Expense For the year ended December 31, 2020, the District recognized pension expense as follows: Pension Expense PERS 1 $38,989 PERS 2/3 $19,904 TOTAL $58,893 2.2.i Page 35 Deferred Outflows of Resources and Deferred Inflows of Resources At December 31, 2020, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: PIERS 1 Deferred Outflows Deferred Inflows of Resources of Resources Differences between expected and actual $0 $0 experience Net difference between projected and actual $0 $(1,481) investment earnings on pension plan investments Changes of assumptions $0 $0 Changes in proportion and differences between $0 $0 contributions and proportionate share of contributions Contributions subsequent to the measurement $13,516 $0 date TOTAL $13,516 $(1,481) Deferred outflows of resources related to pensions resulting from the District's contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2021. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year ended December 31 PERS 1 2021 (6,720) 2022 (211) 2023 2,050 2024 3,400 2025 0 Thereafter 0 TOTAL (1,481) 2.2.i Page 36 PERS 2/3 Deferred Outflows Deferred Inflows of Resources of Resources Differences between expected and actual $44,658 $(15,634) experience Net difference between projected and actual $0 $(6,335) investment earnings on pension plan investments Changes of assumptions $1,777 $(85,214) Changes in proportion and differences between $61,404 $0 contributions and proportionate share of contributions Contributions subsequent to the measurement $22,134 $0 date TOTAL $129,973 $(107,183) Deferred outflows of resources related to pensions resulting from the District's contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2021. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year ended December 31 PERS 2/3 2021 (37,611) 2022 1,777 2023 16,369 2024 20,045 2025 1,025 Thereafter (952) TOTAL 658 2.2.i Page 37 2.2.i ALL PLANS Deferred Outflows Deferred Inflows of Resources of Resources Differences between expected and actual $44,658 $(15,634) experience Net difference between projected and actual $0 $(7,816) investment earnings on pension plan investments Changes of assumptions $1,777 $(85,214) Changes in proportion and differences between $61,404 $0 contributions and proportionate share of contributions Contributions subsequent to the measurement $35,650 $0 date TOTAL $143,489 $(108,664) Page 38 NOTE 7 — LONG-TERM RENTAL AGREEMENT 2.2.i In 2006, the District entered a long-term rental agreement with a customer for the use of some of its facilities on designated future dates. The initial term of the agreement was ten years, which expired on October 31, 2018, with the tenant having options to renew for three successive five- year terms. The tenant exercised its option, and the agreement now extends through December 31, 2023, with options for two additional five-year terms. The rent is received in monthly payments to the District and totaled $39,262 in 2020, which is included in "Rental Revenues" on the District's Statement of Revenues, Expenses and Changes in Net Position. In light the current pandemic this long-term renter's access to the facilities was restricted due to state mandated health protocols. During this period, the District was able to maintain some portion of its revenue through a pro -rated rental rate. This adjusted rental rate was negotiated by granting the renter limited access to the rental spaces as well as taking advantage of the facility's outdoor space and use of its parking lot. The tenant has every intention on renewing the agreement beyond 2023: rents for the year 2021 through 2023 will be: Year 2021 $91,817 Year 2022 $94,571 Year 2023 $97,408 NOTE 8 — DEPOSIT AND INVESTMENTS Credit Risk. The District complies with state law which requires all investments of the District's funds be obligations of the U.S. Government, U.S. agency issues, Obligations of the State of Washington, repurchase agreements, prime banker's acceptances, the Washington State Local Government Investment Pool (LGIP), and time certificates of deposit with authorized Washington State banks. Custodial Credit Risk - Deposits. All District and ECA deposits are insured by Federal Depository Insurance Corporation (FDIC) coverage limits. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC provides separate coverage for deposits held in different account ownership categories Depositors may qualify for coverage over $250,000 if they have funds in different ownership categories and all FDIC requirements are met. All deposits that an accountholder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount. Investments. The district is a participant in the Local Government Investment Pool was authorized by Chapter 294, Laws of 1986, and is managed and operated by the Washington State Treasurer. The State Finance Committee is the administrator of the statute that created the pool and adopts rules. The State Treasurer is responsible for establishing the investment policy for the pool and reviews the policy annually and proposed changes are reviewed by the LGIP advisory Committee. Investments in the LGIP, a qualified external investment pool, are reported at amortized cost which approximates fair value. The LGIP is an unrated external investment pool. The pool portfolio is invested in a manner that meets the maturity, quality, diversification, and liquidity requirements set forth by the GASB 79 Page 39 for external investments pools that elect to measure, for financial reporting purposes, investments at amortized cost. The LGIP does not have any legally binding guarantees of share values. The LGIP does not impose liquidity fees or redemption gates on participant withdrawals. The Office of the State Treasurer prepares a stand-alone LGIP financial report. A copy of the report is available from the: Office of the State Treasurer, PO Box 40200, Olympia, Washington 98504-0200, online at http://www.tre.wa.gov. As of December 31, 2020, the District held $31,181 in the LGIP at amortized cost. NOTE 9 — RISK MANAGEMENT Edmonds Public Facilities District is a member of Enduris. Chapter 48.62 RCW provides the exclusive source of local government entity authority to individually orjointly self -insure risks, jointly purchase insurance or reinsurance, and to contract for risk management, claims, and administrative services. The Pool was formed July 10, 1987 pursuant to the provisions of Chapter 48.62 RCW, Chapter 200-100 WAC, and Chapter 39.34 RCW when two counties and two cities in the State of Washington joined together by signing an interlocal governmental agreement to fund their self -insured losses and jointly purchase insurance and administrative services. As of August 31, 2020, there are 547 Enduris members representing a broad array of special purpose districts throughout the state. Enduris provides property and liability coverage as well as risk management services and other related administrative services. Members make an annual contribution to fund the Pool and share in the self -insured retention. The self - insured retention is: • $1,000,000 self -insured retention on liability loss - the member is responsible for the first $1,000 of the amount of each claim, while Enduris is responsible for the remaining $999,000 on a liability loss. $250,000 self -insured retention on property loss - the member is responsible for the first $1,000 of the amount of each claim, while Enduris is responsible for the remaining $249,000 on a property loss. For property losses related to boiler and machinery Enduris is responsible for the first $4,000 of the claim. Enduris acquires reinsurance from unrelated insurance companies on a "per occurrence" basis to cover all losses over the self -insured retentions as shown on the policy maximum limits. Liability coverage is for all lines of liability coverage including Public Official's Liability. The Property coverage is written on an "all risk", blanket basis using current Statement of Values. The Property coverage includes but is not limited to mobile equipment, boiler and machinery, electronic data processing equipment, business interruption, course of construction and additions, property in transit, fine arts, cyber and automobile physical damage to insured vehicles. Liability coverage limit is $20 million per occurrence and property coverage limit is $800 million per occurrence. Enduris offers crime coverage up to a limit of $1 million per occurrence. Since Enduris is a cooperative program, there is joint liability among the participating members. 2.2.i Page 40 The contract requires members to remain in the Pool for a minimum of one year and must give notice 60 days before terminating participation. The Master Agreement (Intergovernmental Contract) is automatically renewed after the initial one (1) full fiscal year commitment. Even after termination, a member is still responsible for contribution to Enduris for any unresolved, unreported and in -process claims for the period they were a signatory to the Master Agreement. Enduris is fully funded by its member participants. Claims are filed by members with the Pool and are administered in house. The Pool is governed by a Board of Directors which is comprised of seven board members. The Pool's members elect the Board, and the positions are filled on a rotating basis. The Board meets quarterly and is responsible for conducting the business affairs of Enduris. The District believes its various property and casualty risks are covered appropriately by its Enduris Membership. The amount of settlements has not exceeded insurance coverage in the last three years. NOTE 10— FINANCIAL CONDITION The Board of Directors and Management of Edmonds Public Facilities District are confident that the financial condition of the District is stable, and that the strategies outlined in the Management's Discussion and Analysis section of this report will lead to long-term financial stability. Further, the recently adopted extension of the Public Facilities District legislation by the State of Washington will conservatively provide an estimated $16 Million in new projected revenue. This new law extends the current legislation establishing and governing Public Facilities Districts, including the related sales tax rebate, by a period of 15 years beyond its original sunset date (2026) to the year 2041. The extension of this funding source will provide the District with several options for re -funding or refinancing long-term debt for capital maintenance, replacement, or improvements. The District continues to focus on revenue development through new programming, the acquisition of multi -year capital investment grants, continued partnership with the City of Edmonds and expansion of rental activities within the facilities. This chart provides a two-year look at actual revenues for Fiscal Years 2019 — 2020 from these three intergovernmental revenue streams. Tax Revenue 2019-2020 Tax Revenue Source: 2019 2020 State of Washington Direct Sales Tax Rebate $334,200 $335,538 Snohomish County "Tier 1" Agreement $311,227 $324,871 Snohomish County "Tier 2" Agreement $178,846 $238,464 Total: $824,273 $898,873 2.2.i Page 41 NOTE 10— FINANCIAL CONDITION 2.2.i District staff will continue to focus on improving operating efficiencies, although 2020 it noted dramatic decreases in both operating expenses and revenues due the pandemic. District management reacted quickly modifying its operations and staffing. The District was able to participate in the shared work program though the State of Washington which allowed it to maintain nearly all its staff at 50% of the cost to the District. The modification of staff hours and the participation in the State of Washington's Shared Work program reduced the Districts payroll costs from $1,464,492.57 in 2019 to $1,063,064 at the close of 2020. This adjustment which was implemented in March of 2020 for the districts event staff and June of 2020 for its administrative staff reduced the year over year payroll costs by $401,428.57 or by 27.4%. The district's non -operating revenue continued to increase during the pandemic. On average the District conservatively calculates tax revenue growth at 3.6%, however, in 2020 staff noted revenue exceed growth estimates and completed the fiscal year at 5% growth overall. All indications suggest that this growth will continue into 2021. The District implemented multiple strategies to both protect existing resources as well as securing additional financial support through the fiscal year. Staff were able to manage private partnerships within the community and noted an actual increase in contributed revenue approximately $98,000 or 8.1% when compared to the prior year. District staff were also able protect its resources by negotiating a one-year extension of their recently refinanced 2018 Bonds with First Financial Northwest Bank. This extension allowed the district to forego $280,000 principal payment, representing significant cashflow relief at the end of the year. In FY 2020, it is important to note that the District's depreciation expense comprised 26.8% of its reported operating expenses. Due to the pandemic impact on operations this represented a significantly higher percentage of its operating expenses. In 2020 the financial statements noted an 8.7% increase in this number when compared to the prior year. Furthermore, a performing arts center relies upon ticket revenue, rental revenue, and private contributions to meet its annual operating requirements and, therefore, it can be challenging to achieve an operating surplus of 20% or higher each fiscal year to cover depreciation. To help meet this challenge, the District collects a historic facility preservation fee on tickets sold through the Edmonds Center for the Arts box office that is restricted to capital maintenance and replacement. The district noted a substantial drop in funds collected in 2020. This reduction was due solely to the pandemic and District staff anticipate a sharp rebound following the easing of COVID related restrictions. Page 42 NOTE 11—SUBSEQUENT EVENTS The Board of Directors and Management of Edmonds Public Facilities District have identified and acted upon several opportunities following the close of this reporting period which will further assure the financial stability of the District. For example, the District currently is in the process of refinancing bond debt, implementing operational cost savings, procuring new theater equipment with Snohomish County grant funds as well as focusing on new revenue sources and identifying staffing efficiencies. • Partnership with the City of Edmonds: In January 2021, the District received operating support from the City of Edmonds in the amount $50,000 for the second time. District staff plan to continue to search for new partnership opportunities with the City of Edmonds. Bond Refinancing: In late 2021 the District will pursue the refinancing its 2012 Bonds. The District is assessing the possibility of stretching the existing debt out through 2041 significantly lowering its annual debt services payment. The refinancing of the bonds would also allow the District to forego a principal payment on the Bond for that year, which represents a $400,000 reduction of cash expenditures during this performance period. The District would then apply a portion of these savings and future debt services savings to capital investments and creating a reserve from the district's annual surplus. • Multi Year Grant: In early 2020, District staff successfully applied for a multi -year grant from Snohomish County's Hotel Lodging Tax Committee in the amount of $100,000 per year between 2021 through 2025. These funds can be used to support debt service payments as well as being invested into capital improvements. The contract was successfully negotiated in 2021 and the District expects its first distribution by summer of 2021. Lifting of COVID-19 Related Cost Reductions: District staff are working under operating restrictions due to the COVID-19 pandemic. As of March 2020, the District has furloughed all hourly event staff, closed the facilities to the public, cancelled all events as well as meetings and Performances. As of June 2020, all remaining administrative staff have been placed on half-time. As of the close of first quarter in 2021 management is has forecasted cash projections through the end of 2021 in light of the impact of COVID and has an updated budget that would bring all staff back to 75% FTE as of June 2021 and back to 100% FTE as of September 2021. COVID Relief Opportunities: As a municipal entity the District was unable to access the payroll protection program in April 2020 which directly impacted its decision to continue to furlough hourly staff and place administrative staff half time through the State of Washington's shared work program. However, in early 2021 District staff have identified and engaged with several opportunities which could help the District capture a large portion of its lost revenue from 2020/2021. The District has applied for the Shuttered Venue Operators Grant though the Small Business Administration in April 2021. If awarded the full qualifying amount, this would represent revenue that could directly support operations. The District is also in the process of engaging with local and county governments to request of a small portion of COVID relief funding for local governments be allocated to the District. 2.2.i Page 43 REQUIRED SUPPLEMENTARY INFORMATION Edmonds Pubic Facilities District Schedule of Proportionate Share of the Net Pension Liability PIERS 1 As of June 30, 2020 Last 10 Fiscal Years* 2020 2019 2018 2017 2016 2015 Employer's proportion of the net pension liability (asset) % 0.007533% 0.006779% 0.006585% 0.006117% 0.005395% 0.005002% Employer's proportionate share of the net pension liability $ 265,955 260,675 294,088 290,256 289,737 261,651 Covered payroll $ 1,042,941 965,643 900,485 832,051 661,838 583,133 Employer's proportionate share of the net pension liability as a percentage of covered payroll % 25.50% 26.99% 32.66% 34.88% 43.78% 44.87% Plan fiduciary net position as a percentage of the total pension liability % 68.64% 67.12% 63.22% 61.24% 57.03% 59.10% Notes to Schedule: *Until a full 10-year trend is compiled, only information for those years available is presented 2.2.i Page 44 Schedule of Proportionate Share of the Net Pension Liability PERS 2/3 As of June 30, 2020 Last 10 Fiscal Years* 2.2.1 2020 2019 2018 2017 2016 2015 Employer's proportion of the net pension liability (asset) % 0.009754% 0.008757% 0.008426% 0.008208% 0.690500% 0.006463% Employer's proportionate share of the net pension liability $ 124,748 85,060 143,866 285,189 347,661 230,927 Covered payroll $ 1,042,941 965,643 900,485 832,051 661,838 583,133 Employer's proportionate share of the net pension liability as a percentage of covered payroll % 11.96% 8.81% 15.98% 34.28% 52.53% 39.60% Plan fiduciary net position as a percentage of the total pension liability % 97.22% 97.77% 95.77% 90.97% 85.82% 89.20% Notes to Schedule: *Until a full 10-year trend is compiled, only information for those years available is presented. Page 45 REQUIRED SUPPLEMENTARY INFORMATION Edmonds Public Facilities District Schedule of Employer Contributions PERS 1 For the year ended December 31, 2020 Last 10 Fiscal Years* 2020 2019 2018 2017 2016 2015 Statutorily or contractually required contributions $ 36,244 54,012 46,231 41,117 34,540 26,654 Contributions in relation to the statutorily or contractually required contributions $ 36,244 54,012 46,231 41,117 34,540 26,654 Contribution deficiency (excess) $ 0 0 0 0 0 0 Covered payroll $ 756,953 1,093,650 913,402 900,087 724,116 597,937 Contributions as a percentage of covered payroll % -4.79% -4.94% -5.06% -4.57% -4.77% -4.46% Notes to Schedule: *Until a full 10-year trend is compiled, only information for those years available is presented. 2.2.i Page 46 REQUIRED SUPPLEMENTARY INFORMATION Edmonds Public Facilities District Schedule of Employer Contributions PERS 2/3 For the year ended December 31, 2020 Last 10 Fiscal Years* 2020 2019 2018 2017 2016 2015 Statutorily or contractually required contributions $ 59,951 84,504 68,500 59,684 45,112 34,212 Contributions in relation to the statutorily or contractually required contributions $ 59,951 84,504 68,500 59,684 45,112 34,212 Contribution deficiency (excess) $ 0 0 0 0 0 0 Covered payroll $ 756,953 1,093,650 913,402 900,087 724,116 597,937 Contributions as a percentage of covered payroll % -7.92% -7.73% -7.50% -6.63% -6.23% -5.72% Notes to Schedule: *Until a full 10-year trend is compiled, only information for those years available is presented Page 47 2.2.c The State Auditor's Office is established in the Washington State Constitution and is part of the executive branch of state government. The State Auditor is elected by the people of Washington and serves four-year terms. We work with state agencies, local governments and the public to achieve our vision of increasing trust in government by helping governments work better and deliver higher value. In fulfilling our mission to provide citizens with independent and transparent examinations of how state and local governments use public funds, we hold ourselves to those same standards by continually improving our audit quality and operational efficiency, and by developing highly engaged and committed employees. As an agency, the State Auditor's Office has the independence necessary to objectively perform audits, attestation engagements and investigations. Our work is designed to comply with professional standards as well as to satisfy the requirements of federal, state and local laws. The Office also has an extensive quality control program and undergoes regular external peer review to ensure our work meets the highest possible standards of accuracy, objectivity and clarity. Our audits look at financial information and compliance with federal, state and local laws for all local governments, including schools, and all state agencies, including institutions of higher education. In addition, we conduct performance audits and cybersecurity audits of state agencies and local governments, as well as state whistleblower, fraud and citizen hotline investigations. The results of our work are available to everyone through the more than 2,000 reports we publish each year on our website, www.sao.wa.gov. Additionally, we share regular news and other information via an email subscription service and social media channels. We take our role as partners in accountability seriously. The Office provides training and technical assistance to governments both directly and through partnerships with other governmental support organizations. Stay connected at sao.wa.gov • Find your audit team • Request public records • Search BARS manuals (GAAP and cash), and find reporting templates • Learn about our training workshops and on -demand videos • Discover which ,governments serve — enter an address on our map • Explore public financial data with the Financial Intelligence Tool Other ways to stay in touch • Main telephone: (564) 999-0950 • Toll -free Citizen Hotline: (866) 902-3900 • Email: webmaster(c-r�,sao.wa. gov Office of the Washington State Auditor sao.wa.gov Page 48 Packet Pg. 101 2.3 City Council Agenda Item Meeting Date: 08/10/2021 City of Edmonds Facility Condition Assessment update by Mckinstry Staff Lead: Phil Williams Department: Public Works & Utilities Preparer: Royce Napolitino Background/History In 2017 the City of Edmonds commissioned Mckinstry to perform a two year Facility Condition Assessment report to supplement the previous FCA report performed by Cardno LLC in 2011 and 2012. Those findings were presented to Parks & Public Works and Finance Committees on 07-09-19 and to the full Council on 07-16-19. Staff Recommendation Forward the Facility Condition Assessment Update to City Council's Full Agenda. Narrative Facility Condition Assessments, or FCAs, provide facility condition and budget data for the repair and upkeep of facilities. An original assessment was performed by Cardno, with the FCA report delivered in 2011-12. In 2017, McKinstry furthered this work to accurately assess the condition of the City's building portfolio. Mckinstry completed their work to expand or update the previously gathered information and include Mechanical, Electrical and Plumbing systems to the scope of the report. This work included the introduction of a Facility Condition Index. The Facility Condition Index (FCI) score was determined by the Backlog of Maintenance and Repair methodology. This scoring model focuses on the correction of deficient building systems and those at or near end of useful life functionality. The Backlog of Maintenance and Repair method helps identify building system and budget requirements to focus capital renewal funds on functionality, condition and the ability of the facility to meet the current and future needs of the City. McKinstry's presentation includes: the current and 5-year FCI calculations; takeaways from the 2018 survey and 2019 budgeting response; a recap of projects; operating recommendations; additional capital projects; and funding opportunities. Attachments: McKinstry Facilities Assessment_08-10-21 Packet Pg. 102 2.3.a f AAffelmiff 11,0191,211 ►fry Q.- or r U� a��ramy w LL N C O E m W O u 7A Q Packet Pg. 103 2.3.a • Introduction • History • Findings Following 2018 • Additional Council Funding • Alleviate Costs of Deferred Maintenance • Needs • Funding Opportunities r L) m w U) c 0 E w 4- 0 Packet Pg. 104 2.3.a w 2018 Facility Condition Assessment Study • Boys and Girls Club • Cemetery Building • City Hall • Civic Center Grandstand • Fishing Pier • Fire Station #16 • Fire Station #17 • Fire Station #20 • Frances Anderson Center • Historic Log Cabin • Historical Museum • Meadowdale Club House • Old Public Works • Parks Maintenance Building • Public Safety • Public Works 0&M • Senior Center • Wade James Theater • Yost Pool House • waterfront Lenter(replaces Sr. Center)(South County Sr. Services) • Edmonds Center for Arts (Edmonds Fac Dist) —280,000 SF a Packet Pg. 105 2.3.a Current Facility Condition Index 5-Year Facility Condition Index KiScore �A Boys and Girls Club 0.08 Cemetery Building 0.04 City Hall 0.15 Fishing Pier 0.13 Frances Anderson Center 0.15 FS 16 0.04 FS 17 0.11 FS 20 0.04 Historic Log Cabin 0.12 Historical Museum 0.04 Library and Plaza Room 0.15 Meadowdale Club House 0.06 Old Public Works 0.07 Parks Maint. Building 0.16 Public Safety building 0.06 Public Works O&M Center 0.23 Wade James Theater 0.08 Yost Pool House 0.10 YearFC Score Boys and Girls Club 0.16 Cemetery Building 0.16 City Hall 0.21 Fishing Pier 0.23 Frances Anderson Center 0.20 FS 16 0.13 FS 17 0.29 FS 20 0.20 Historic Log Cabin 0.27 Historical Museum 0.16 Library and Plaza Room 0.34 Meadowdale Club House 0.10 Old Public Works 0.11 Parks Maint. Building 0.25 Public Safety building 0.18 Public Works O&M Center 0.30 Wade James Theater 0.19 Yost Pool House 0.22 w a Packet Pg. 106 2.3.a . 5 N-1 . 0 N-1 a� = , 5 N-1 Lo 0.5M O.OM 0 0 • Measures represented by different colors • Costs required average close to $800k/year • First few years are higher due to under-funding/deferred maintenance S1.1 5O.6 SO.6 $0.5 50SOA ][I- z ,4 5OA 0 W a Packet Pg. 107 2.3.a Chip away at additional deferred maintenance year over year until $2M backlog is complete. 3.0M $2.9 I $800k annual investment is still needed to maintain facilities infrastructure independently of deferred 2.5M I maintenance. 2-.OM CU > 1.5M 1-OM O.SM O.OM I $2.0 F— Deferred Maintenance I I I OSO08 a 0 a a o SU.D _ _ $0.6 $0.5 o a 0% Baseline Budget Needed $0.1 Z N r 7 - W a Packet Pg. 108 Key Takeaways from 2018 • Facility budgets should be $800K instead of $300K • Deferred maintenance from under -funding levels was around $11M • Recommended IFMA facilities staffing levels for 250K-500K square feet is 9 FTE instead of 4 FTE (does not include custodial) Packet Pg. 109 2.3.a 0 2019 Budgetary Response • Council upped funding to $700K per year • Council authorized S1M funding fora project that was -$1.5M (additional funds were provided by outside grants) r U m w W c 0 E w 4- 0 u Packet Pg. 110 2.3.a • Operating Recommendations 1. Invest in update to Facility Condition Assessment to prioritize needs 2. Uptick funding levels for operating levels to $1M (industry inflation averaged 7% YOY) 3. Right -size facilities staffing, or at least support transition of knowledge capital (2 retirements next year). • Staffing also feeling impact of COVID-19 • Ideally, add: ➢ 1 more building maintenance operator ➢ 1 facilities maintenance worker ➢ 1 more custodian r L) M w W c 0 E w 0 u Packet Pg. 111 2.3.a a a_ Capital and Deferred Maintenance Needs E W 4- 0 1. Studies Needed U • City Hall has major infrastructure needs N 0 Goal: Evaluate options to determine best value to Edmonds • Frances Anderson Community Center Building Systems @ end of life & insufficient for programming needs ($3-51VI project) Context: 100 year old facility that's use has evolved, but systems have not been updated. Goal: Divest from fossil fuels to electrify facility and add air conditioning for programming needs 2. Electrification infrastructure required for City Fleet and Public EV's Goal: 10-11 new EV charging stations for public and City -owned fleet 3. Public Safety Building chiller plant replacement Context: Systems 25 years old and were compromised from original installation conditions Packet Pg. 112 2.3.a *W 2 Bond E issuance rY make sens a Packet Pg. 113 2.3.a Additional Facilities Projects Needing Attention 1. Public works yard ($330K) 2. City Hall Electrical ($1.7M) 3. Anderson Center ($1.5) • Windows & Restroom TI • 6 storm drains that come into a collector, it backs up • Drinking fountains 4. Library building Masonry needs restoration because of water infiltration ($2-3M) Packet Pg. 114