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2023-01-31 City Council FIN Special Packet1. o Agenda Edmonds City Council V�jn,.ny�FINANCE COMMITTEE - SPECIAL MEETING CITY COUNCIL CONFERENCE ROOM 121 - 5TH AVENUE N, EDMONDS, WA 98020 JANUARY 31, 2023, 3:30 PM COUNCIL COMMITTEE MEETINGS ARE WORK SESSIONS FOR THE COUNCIL AND CITY STAFF. COMMITTEE MEETING AGENDAS DO NOT INCLUDE AUDIENCE COMMENTS OR PUBLIC HEARINGS. STAFF AND COUNCILMEMBERS ATTEND COMMITTEE MEETINGS VIRTUALLY, AND MEMBERS OF THE PUBLIC ARE ENCOURAGED TO ATTEND THE SAME WAY. IF MEMBERS OF THE PUBLIC CANNOT ACCESS THIS VIRTUAL COMMITTEE MEETING WITH THEIR PERSONAL DEVICES, A MONITOR IS PROVIDED IN THE CITY COUNCIL CONFERENCE ROOM AT 121 5TH AVE N, EDMONDS WA. PERSONS WISHING TO ATTEND THIS MEETING VIRTUALLY IN LIEU OF IN -PERSON ATTENDANCE CAN CLICK ON OR PASTE THE FOLLOWING ZOOM MEETING LINK INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM. US/J/95798484261 OR JOIN BY DIAL -UP PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 COMMITTEE MEMBERS: DIANE BUCKSHNIS (CHAIR), WILL CHEN, COUNCIL PRESIDENT (EX-OFFICIO MEMBER) CALL TO ORDER COMMITTEE BUSINESS 1. Risk Management Policy (10 min) 2. ERP and OpenGov Budget Update (20 min) 3. Impact of the 2023 Budget on the Strategic Outlook (15 min) 4. Leak Adjustment Policy (10 min) 5. November Monthly Report (10 min) ADJOURNMENT: 5:00 PM Edmonds City Council Agenda January 31, 2023 Page 1 2.1 City Council Agenda Item Meeting Date: 01/31/2023 Risk Management Policy Staff Lead: Dave Turley Department: Administrative Services Preparer: Dave Turley Background/History The City does not have a formal Risk Management Policy approved. This draft policy was brought to Finance Committee for review on September 13, 2022. It was tentatively approved, pending confirmation that it had also been reviewed and approved by the city attorney. Staff Recommendation For review and discussion. We would like approval tonight from the Finance Committee to place this on a future consent agenda for approval by full council. N/A Attachments: Risk Management Policy_Draft Packet Pg. 2 2.1.a City of Edmonds RISK MANAGEMENT POLICIES 1.0 STATEMENT OF PURPOSE The mission of the Risk Management function of the City of Edmonds is to minimize the cost of risk and to maximize protection of City employees and its assets. The Risk Management Program at the City of Edmonds establishes a coordinated program for the processing, adjudication and determination of claim and litigation against the City, its elected officials, officers, and employees. 2.0 RISK MANAGEMENT PROGRAM The Risk Management Program shall be included in the City of Edmonds Human Resource Department. 3.0 MANAGEMENT AND CONTROL OF THE RISK MANAGEMENT PROGRAM • The management and control of the City's Risk Management Program shall be the function of the Risk Manager. • The Risk Manager shall have authority to establish rules and procedures consistent with Council policy to ensure the safety and well-being of employees and the public while on or using City property. • These rules shall be drawn to aid in keeping the City's liability to a minimum and premiums for insurance as low as possible consistent with the insurance requirements and the exposures insured. • The Risk Management Program shall be established as part of the function of the Human Resources department, under control of the department Director with the Administrative Service Director serving as the alternate in the absence of the Human Resources Director. • The City Safety & Disaster Coordinator shall be assigned to the Department of Human Resources. • The City Attorney shall serve as the legal advisor to Risk Management 1036=11,11111*1 • The Risk Manager shall be responsible for reviewing, assessing and controlling the exposures to City employees, property and the general public. • The Risk Manager shall identify and analyze risks to the City and make recommendations to the Mayor and City Council regarding insurance coverage's, reserves, Self -insured retention (SIR) levels, loss prevention, and general risk issues. • The Risk Manager shall review the City's loss reports and annual Risk Pool report annually with the City Council. Created September 2022 Page 1 Risk Management Policy Packet Pg. 3 2.1.a 4.0 SAFETY AND LOSS PREVENTION Safety and Loss Prevention Policies and Procedures shall be maintained by the Risk Manager. • All mandated trainings shall be maintained by the Safety and Disaster Coordinator and approved by the Risk Manager. • Policies and procedures will be reviewed and updated to ensure compliance. 5.0 INSURANCE POLICIES Liability and property policies will be maintained by the Human Resources department. Copies of all Certificates of Insurance certificates issued on behalf of the City shall be maintained by the Human Resources department. I:- 1=Z1xd07:711.1 • Complete and accurate records regarding all claims against or by the City shall be maintained by the Human Resources department. • Files shall include but are not limited to claimants name, address, description of claim and determination. • Loss Runs shall be maintained prepared and available at least once per year or as needed. 7.0 CLAIMS AND LITIGATION The Risk Manager shall be the main point of contact with the City's Risk Pool for all claims and litigation. 8.0 RISK EVALUATION COMMITTEE • The Risk Manager and the City Attorney shall meet as needed to review claims and litigation. • The City Council shall be updated on large claims, or those with the potential of litigation. 9.0 SETTLEMENT FUND • A fund for small claim settlement of those claims not covered by the City's insurance through the Risk Pool and for immediate claims expenses and costs shall be established in the budget. • Payments drawn on the account will require the authorization of these positions: 1. Risk Manager 2. City Attorney • The balance of the fund shall be $25,000 with no draft drawn on the account in excess of $5,000. Created September 2022 Page 2 Risk Management Policy Packet Pg. 4 2.1.a 10.0 PLACEMENT OF INSURANCE The Risk Manager may engage one or more Consultant/Broker(s) to assist and advise the City in the placement of insurance for those losses not covered by insurance through the risk pool and other lines as deemed appropriate by the Risk Manager. Insurance carried by the City shall be obtained through negotiations directed by the Consult/Broker or the Risk Manager and when deemed necessary and to the best interests of the City, by competitive process solicited by the Consult/Broker or the Risk Manager and shall be awarded to the insurance agents and/or companies who agree to furnish the coverage required at the lowest and best price consistent with good service and security. 11.0 AUTHORIZED INSURANCE The coverages set forth below are intended as guidelines to the Risk Manager. The following insurance may be carried in accordance with applicable rules and regulations. • Fire insurance covering all buildings owned or occupied by the City in amounts as recommended by the Risk Manager or Risk Pool. • Comprehensive liability insurance covering elected City officials, the City's officers, agents and employees while acting in the discharge of their duties within the scope of their employment and/or under the direction of the City. • Fidelity bonds protecting the members of the Council against loss occasioned by fraud or dishonesty of officers and employees of the City. • Workers' Compensation insurance covering all employees of the City, in accordance with the laws of the State of Washington governing Workers' Compensation. • Casualty, fire and theft insurance covering City property. • Burglary and robbery insurance covering City property. • Boiler and pressure vessel property damage insurance covering steel boilers and other pressure vessels and property limits deemed sufficient by the Risk Manager and Risk Pool. • Underground and Above Ground Storage Tank coverage. • Any other insurance coverage deemed appropriate such as inland marine, money and securities, performance bonds or as the Council may authorize. Created September 2022 Page 3 Risk Management Policy i� Packet Pg. 5 2.1.a 12.0 INSURABLE VALUE — BUILDINGS AND CONTENTS • The insurable value of a building shall be defined as the replacement cost of the building less the non insurable items set forth in the City's property insurance forms. • The term "contents" as used in connection with insurance shall be defined to include all personal property not specifically excluded by the terms of the standard form for fire insurance policies. The valuation of contents, for insurance purposes, shall be the full replacement cost or the actual cash value of the insured property. • Uninsured property normally is defined as that which cannot be replaced after a loss by standard fire/EC policies. Personal property brought on work sites by employees usually is not insured. Verifiable losses of uninsured property may be replaced or repaired using actual cash value. • Acquisition of property (real and personal) will be reported to Risk Management each year. The statement of values with insurance carriers will be updated as required by the Risk Pool and carriers as necessary. Acquisition of larger parcels of improved real property will be reported to Risk Management upon acquisition. Disposition of real and personal property will be updated annually with the Risk Pool and carriers as necessary. 13.0 LIABILITY CLAIM MANAGEMENT • All claims against the City require a notarized claim form to be filed with the City Clerk. Upon receipt, the City Clerk shall forward the claim to the designated employee who will submit the claim to the Risk Pool and contact named departments for additional information. • All investigative materials will be forwarded to the Risk Manager. Should insurance carriers be involved, the Risk Manager shall notify those companies. Claims will be managed on a "need -to -know" basis. City officials and employees that are involved or need to be involved in the claim will be notified. The City Attorney will be notified of all claims that involve bodily injury or death. 14.0 SETTLEMENT OF LOSSES Risk Manager shall have the authority to settle small claims, not to exceed $5,000 that are not covered by the City's insurance coverage through the Risk Pool. Claims will be reviewed with the City Attorney. Claims made for more than $5,000 will be brought forward to the City Council Finance Committee for review. Created September 2022 Page 4 Risk Management Policy Packet Pg. 6 2.1.a 15.0 PROPERTY LOSS REPORTING Although most property losses are not insured, a property loss reporting system enables the gathering of loss data that helps determine the following: • Property insurance deductibles • Budget line items for replacement of uninsured losses. • Property inventory updates Property losses that should NOT be reported under this procedure are: • Vehicular accident damages that were reported under Section 13.4 — Automobile/Equipment Accident • Routine losses that are budgeted by Departments and where a loss accounting system is already in use. Examples would be vandalized signs, picnic tables, turf damage at parks, etc. • Routine wear and tear of equipment or machinery Property losses that should be reported under this procedure are: THEFT: Any theft of City owned property. All thefts must be reported to the law enforcement agency having jurisdiction. • VANDALISM: Any vandalism that is not a routine budgeted loss • FIRE: Any property loss that occurs as a result of fire, flood, earthquake, windstorm, explosion or act of God. isZ�1����K�]►�I,�����17�7:�►���r�1:��9:�J/_V/_�el�Jl�►��i 16.0 RISK RESERVE FUND The Risk Reserve Fund as established by Ordinance 3891 shall be expended for the administration, settlement, allocated expense of claims brought against the City, its officers, agents, commissioners and employees that are not covered by the City's insurance coverages either through the Risk Pool or through the purchase of additional coverages. An account will exist to pay small claims not covered by insurance coverage through the Risk Pool or through purchased additional policies. The account balance will be maintained at $25,000. Drafts drawn on that account will require the authorization of: the Risk Manager; and that of the City Attorney. Budget amendments will be submitted as needed in order to maintain the Risk Fund to the maximum level established. Departments may be charged for payments made from the Risk Reserve fund as deemed appropriate by the Director of Administrative Services. Created September 2022 Page 5 Risk Management Policy Packet Pg. 7 2.1.a 17.0 RISK RESERVE FUND CONTROLS • The Risk Reserve Fund will require two (2) authorizations. 1. Risk Manager 2. City Attorney • Each claim payment shall include an authorization signed by the two (2) above listed position. The authorization shall be presented as the means to initiate payment. A copy of each authorization shall be by the Human Resources and Risk Management Department. • A full Release of Damages shall be secured from the claimant(s) prior to making payment. • The Release of Damages and the payment authorization shall become part of the permanent claims record. • All payments made to claimants shall be through the City's Department of Administrative Services. Created September 2022 Page 6 Risk Management Policy Packet Pg. 8 2.2 City Council Agenda Item Meeting Date: 01/31/2023 ERP and OpenGov Budget Update Staff Lead: Megan Menkveld Department: Administrative Services Preparer: Megan Menkveld Background/History In Spring 2022 the City of Edmonds signed a contract for OpenGov Budget software -as -a -service. Since then the Administrative Services department has been working with OpenGov toward implementation. Staff Recommendation <Type or insert text here> Narrative This is an update on the OpenGov Budget project and brief update on the ERP Selection project. Attachments: January 2023 Finance Committee Packet Pg. 9 ERP Selection & OpenGov Budget Update ERP Selection Update 1. Project is on -hold 2. Eden sunset in 2027 Packet Pg. 11 enGov Budget Budget Configuration is Complete Currently working through the online budget book Interfacing with Eden is next, concurrent with #2. Training — City Wide PROJECT COMPLETION: APRIL 2023 Online Budget Book 1. Template/Page Creation 2. Department Participation 3. Editing and Review Packet Pg. 13 Training Hours Budget and Planning: Administrators Budget and Planning: lasers orkforce Planning ipital Planning & Online Budget Book kmmunication: Administrators )mmunicatio n: Users Sporting & Transparency: Administrators reporting & Transparency: Users Open Town Hall TOTAL E ntity Reporting E ntity 5 1 1 5.5 0.5 0.5 2.5 1 1 2 19 5.5 5.5 Packet Pg. 14 OpenGov University First Marne: Last Name: Title: Role: Hours: Megan Menkveld Deputy Director Ad Entity (?) or Reportin 19 Debra Sharp Accountant Entity Administrator 19 Dave Turley Director ofAdminis Entity Administrator 19 Mark Cockrum Information Systerr Entity User 5.5 Todd Cort Recreation SuperviE Entity User 5.5 Julie Espinoza Court Clerk Entity User 5.5 Brett Gehrke Public Works Entity User 5.5 Dori Jacobson Accounting Speciali Entity User 5.5 Kristin Johns Building Permit Coo Entity User 5.5 Denise Nelson Development Servi Entity User 5.5 Lori Palmer Accounting Speciali Entity User 5.5 Carl Rugg Fleet Mechanic Entity User 5.5 Thom Sullivan Facilities Manager Entity User 5.5 Mike Adams Fleet Manager Repor-LingAdministrz 5.5 Michelle Bennett Police Chief Reporting Administrz 5.5 Leif Bjorback Building Official Re po rti ng Ad mi nistrz5.5 Shannon Burley Deputy Director of Reporting Administrz 5.5 Marissa Cain Accountant Reporting Administrz 5.5 Frances Chapin Cultural Services M Reporting Administrz 5.5 Michael Derrick VVV TP Program Ad Reporting Administrj 5.5 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Alexandra Ehlert Police Admin Reporting Administr 5.5 Robert English Interim Director Pu ReportingAdministr 5.5 Angie Feser Director Parks Depi Reporting Administrz 5.5 Ross Hahn WV TP Manager Reporting Administrz 5.5 Carrie Haslam Executive Assistant Reporting Administrz 5.5 Carolyn LaFave Executive Assistant Reporting Administrz 5.5 Kernen Lien Environmental ProE Reporting Administrz 5.5 Megan Luttrell Program Coordinat Reporting Administrz 5.5 Sarah Mager Accountant Re po rti ng Administrz5.5 Michelle Martin Administrative Assi! Re pc rti ng Administrz 5.5 Uneek Maylor CourLAdministratoi RepertingAdministrz 5.5 Susan McLaughlin Director of Develop RepertingAdministrz 5.5 Tod Moles Street/Storm Manaj Reporting Administrz 5.5 Royce Napolitino Executive Assistant Reporting Administrz 5.5 Jessica Neill Hoyson Director Human Re Reporting Administrz 5.5 Scott Passey City Clerk Reporting Administrz 5.5 Pamela Randolph WWTP Manager Reporting Administrz 5.5 Whitney Rivera Pro-Tem Judge RepertingAdministrz 5.5 Brian Tuley Information Systerr ReportingAdministrz 5.5 Emily Wagener Human Resources Reporting Administrj 5.5 2.3 City Council Agenda Item Meeting Date: 01/31/2023 Impact of the 2023 Budget on the Strategic Outlook Staff Lead: Dave Turley Department: Administrative Services Preparer: Dave Turley Background/History Council requested that this be placed on tonight's agenda for discussion. Prior to the meeting, the final Adopted Budget, which includes the Strategic Outlook, will be made available to council members and the public. Staff Recommendation No presentation or recommendation by staff. Discussion only. N/A Packet Pg. 16 2.4 City Council Agenda Item Meeting Date: 01/31/2023 Leak Adjustment Policy Staff Lead: Dave Turley Department: Administrative Services Preparer: Dave Turley Background/History The City's Leak Adjustment policy was last updated over 10 years ago. It is somewhat confusing and does not allow for a payment plan after an adjustment was made. This policy was discussed in Finance Committee in 2022, and several suggestions were made by Council on ways to improve the policy. We would like to discuss the final policy with Council's suggestions implemented tonight. Staff Recommendation Approval of policy and recommend to place on Consent Agenda at a future meeting for full council approval. Narrative N/A Attachments: Leak Adjustment Policy_Updated 2023 Policy Update - Leak Adjustments January 312023 Packet Pg. 17 2.4.a CITY OF EDMONDS 121 51" Avenue North, Edmonds, WA 98020 (425) 771-0240 1 www.edmondswa.gov MIKE NELSON, MAYOR CITY OF EDMONDS LEAK ADJUSTMENT POLICY (Revised 01/2023) lhC. I S9,J Leak adjustments are NOT available for leaks occurring within a residential or commercial structure where the amount of the adjustment would have otherwise been less than $50 per billing. Also, adjustments are only available in instances where water consumption is more than 20% greater than the same period in the previous three years. 1. To qualify for a leak adjustment the: a) Customer must satisfactorily demonstrate the leak was caused by unusual circumstances beyond the customer's control; and b) Must take action to repair the leak within thirty 30 days of when the customer discovers or is notified of the leak; and c) Complete a City application form, accompanied by a copy of the finalized water service line permit if required, and submit it to the City of Edmonds Water Billing Department within 90 days of the repair. If the repair is exempt from permit, a signature is required from the City of Edmonds Development Services Department or the Administrative Services Department indicating a permit was not required. 2. Only one leak adjustment per customer will be granted in any three year period. Adjustments exceeding $500 require approval by the Finance Director, Public Works Director, or their designee. 4. If the final bill is more than $1,000 the customer has the option to repay that billing in equal installments of up to 12 months at 0% interest. 5. A leak adjustment credit shall be calculated as follows: a. The average consumption for the same period during the previous three years to be charged at the City's retail rate, plus the excess consumption to be charged at the City's wholesale rate. b. If the adjustment is for a commercial account that is billed for sewer service based on water consumption, the City will also adjust the sewer portion based on the same calculations. 2 O a c d E 0 Z Q d J Packet Pg. 18 Proposed Updates to Leak Adjustment Policy January 31, 2023 E o: nM U r� s Q Packet Pg. 19 What is a Leak Adjustment? Occasionally a water customer will discover that their plumbing has a leak. This will cause higher water usage and a higher water bill. If caught quickly, the additional cost may only be a few hundred dollars more than normal. Sometimes a leak may be large and go undetected for several weeks, causing the loss of large amounts of water and increases to the customer's water bill of several thousand dollars. The City could just charge the full amount, but we have tried to provide a way to mitigate this unexpected cost. Our current policy is confusing and does not provide for a payment plan after an adjustment is made. The new policy is easier to understand and compute, provides a reasonable reduction in the amount of water the customer will be charged for, and provides for a payment plan. Ot F.Dj, t Packet Pg. 20 Current State: Under the current policy the customer has to show that they took reasonable steps to fix the leak as soon as it was discovered. Subject to meeting certain requirements, the City will do the following: • Compute what their average bill has been and charge them that, then • Forgive up to $1,000 of the excess, then • Take the remainder and bill that amount to them at wholesale, then • Add a 15% administration fee to the wholesale amount. Proposal: Under the proposed policy the customer still has to show that they took reasonable steps to fix the leak as soon as it was discovered. Subject to meeting certain requirements, the City will do the following: • Compute what their average bill has been for the same period during the previous three years and charge them that usage at retail (currently $4.23 per unit), then • Take the remainder and charge that amount to them at wholesale (currently $1.50 per unit). • If the final bill is more than $1,000 the customer will have the option of paying the bill in equal installments of up to 12 months at 0% interest. OV ED4f v A u �L Ilk w Packet Pg. 21 2.5 City Council Agenda Item Meeting Date: 01/31/2023 November Monthly Report Staff Lead: Dave Turley Department: Administrative Services Preparer: Dave Turley Background/History Monthly finance report. Staff Recommendation For review and discussion. Narrative N/A Attachments: Finance Committee Mtg 01_31 Packet Pg. 22 November 2022 Monthly Financial Report January 31, 2023 oV �n41 Q ell Packet Pg. 23 General Fund Revenues for 11 months ended November 30 are $87,793 behind budget (2/10 of 1%) General Fund CUFnLIIaIiVC' Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ February March April May June Judy August September October November December 2,504,390 $ 4,952,844 7,433,841 10,592,238 19,497,731 22,094,674 24,642,914 27,281,283 29,678,983 33,756,809 42,396,838 44,986,484 2,504,390 2,448,454 2,480,997 3,158,396 8,905,494 2,596,943 2,548,239 2,618,369 2,397,701 4,077,826 8,640,029 2,589,646 $ 2,186,816 4,606,889 7,290,787 10,347,043 19,290,212 21,853,449 24,106,033 27,906,495 30,545,883 33,386,077 42,309,045 -12.68% _6.9a% -L92% -2.31% _L06% -1.0996 -2.189� 2.29% 2.92% -1.1096 -0.2196 General Fund 45.000.000 40000000 35.000.000 30.000. 000 `'5.000.000 20.000. 000 � 15.000.000 10.000.000 - 5.000.000 � T JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOVDEC -Current Year -Budget Prior Year c a� E t v �a OF EDArQ�O Q w Packet Pg. 24 General Fund Spending for 11 months ended November 30 is $3,897,424 under budget General Fund Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuais % January $ Feb ra ary M-Orch April May June July August September Oc to her November Dec€m beft r 5,399,107 $ 9,322,929 13,595,543 17,33.6,584 21,3d4,446 26,228,329 30,401,954 34,3 51, 240 38,525,505 43,098,529 47,899,411 52,919,589 5,399,107 3,923,721 4,272,716 3,741,040 -1,967,862 4,923,883 4,17 3,626 3,949,285 4,174,266 4,573,023 4,900,883 5,020,178 d,585,579 8,118, 010 11,949,976 15,453,486 19,128.,482 23,484,941 27,d97,84S 30,839,095 34,679,613 39,7S7,475 44,001,987 -15.07% -12.92% -12.10% -10.86% -10.21% -10.46% -10.87% -10.23% -9,98% -10.07% -8.14 % General Fund 55_DOD,DDO 50000,000 5.404,ODQ QaQ,000 35 _Q OG, ODO 30.000,DDQ 75 _Q 00, DDO ?D_Q Q4, DDQ - 15.004, D0Q 1D_0O0,DDO 5.000-OW 0 � JAN FEB 1rL4R A;R NLAY 7UN JUL AUG SEP GC'T NO)' DEC +Current Year -Budget PnorYear O CL LL t c O a� E a) O Z M I r O ar w m a� E E O U m c ns c U_ c a) E t c,> to OF Eb4 f Q Packet Pg. 25 Sales Tax Revenues for 11 months ended November 30 are $872,971 ahead of last year, and $1,161,668 ahead of budget nle- -md Use Tax ' Cumulative Monthly YTD Variance Budget Far-Ecast Budget Forecast Actuals % January 763.651 $ 763,G51 S 857,872 Februarys 1.704,609 940,959 1,853,000 A arch 2.420,254 715,646 2,666,2543 Aprif 3.074, 639 6 S 4,384 3,469,412 May 3.893,081 819,442 4.493,34-9 June 4.672.507 779,426 5,402,133 juiyt 5,523,403 850,8436 6,337,518 August 6,4343,084 915,680 7,348,080 September 7,293.649 854,565 8,300,315 October 8,203,996 910,347 9,300,633 NovernbEr 9,1343,425 935,429 10,301,093 Amember 10,000,000 860,575 12.34% S_ 71% 10.16% 12.94 % 15.IGM 15.62 % 14.74% 14.12% 13.aO% 13.37% 12.71% 11,000,00G 10,000,000 9-000.000 I�ODQ004 7,000.000 (XOOQ000 5,00Q0w 4,000.000 �,00Q000 Z000,000 L00Q000 0 i11(- 5 a tid i 5 6 T a x AN FEB MAR APR MAY ILN JU AUG SEP OCT NOV DI per Yew -Budget Prim Year 3: r c d E t v R OV ED4f Q Packet Pg. 26 Sales Tax Revenues for 12 months ended November 30, by Category Construction Trade, 1,604,295 Accommodation, 49,495 Clothing and Accessories, $355,022. Comminications, 2.2.0-890 -Wholesale Trade- S324,5D1 Sales Tax Analysis By Category Current Period: November 2022 Year -to -Date Total S10,01109 Automotive Repair, SM' 199 Health& Personal\ Care, S63,4DO Mis c letaiL 1,930,800 Aunsearnt & recreation, $69-2.13 Susiaess Services, $1,082,671 a-- Others -S294,969 Gasoline, W0 Retail Food Stores. IN $331,557 retain Automotive, a- $2-485-889 M.mufacturM- g- Eating Sz Brin1dug, $118-616 $1,156,514 of Eb4 f a Packet Pg. 27 Real Estate Excise Tax Revenues for 11 months ended November 30 are under budget by $726,225 (partly due to an accounting change) Real estate Emcise Tax 1 & 2 Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January � 376,007 February 604,457 A40rrt4 942,203 April 1,215,412 May 1,570,915 June 1,942,927 July 2,344,931 August 2,781,982 September 3,225,577 Dctaber 3,626.122 NDverrrber 4.01.9,664 December 4,404,000 $ 376,007 S 135.SOa -63-96% 228,050 377,997 -37-42% 338,145 5S1,S31 -41-46% 273,209 923,535 -24-01% 355,503 1,301,746 -17-13% 372,012 1,703,080 -12-34% 401,904 2,043,169 -12-96% 437,151 2,333,624 -16-12% 443,595 2,664,145 -17-41% 400,545 3,011,093 -16.95% 392,542 3,292,409 -18-07% 381,336 Real E5tate Exche T-ax 1 & ? 5.544J-VJJ 4-500-000 4-000-OW 3-SOQ�Od 3.000_ ' S00_ ' 000-OW 1.500_ 1.000.0w- 500:OW U ]AN FEB -V R APR MAY JIUN JUL AUG SEP OCT NOV DBC wmmw�CuaenrYew :Budger PnorYev F O M C I.L t c O L E m O Z M I 0 a) a� E E O U m C rc C iL r C a) E t ra OF ED_4 Q Packet Pg. 28 Real Estate Excise Tax Revenues from 2010 - 2022 BEET - 010-2021 Actua lr 2022 Projected S5,500,000 S5,000,000 54,500,000 54,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 1 S1,000,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 F O M LL C O L �c G w O Z r M I r O a) a) E E O (U m v c R c ii r c a) M �a Q Packet Pg. 29 Noteworthy items: • Page 4 & 19 — REET revenues are down a total of $(1,366,957) from last year. The decrease for property taxes and REET is due in part to us having to back the December 2021 SnoCo deposit out of period 12022 and into period 12 of 2021. Since these reports are cash basis, that adjustment affected it whereas our year-end accruals don't affect this report. It will be the same for the monthly report until December of 2022, and then next year won't be affected by this. The entry that backed these revenues out of January 2022, decreased REET by $(242,395). • Page 21— Gas Utility Tax is up $60,705 from last year. • Page 21— Telephone Utility Tax is down $(74,613) from last year. This is also due in part to timing differences of when payments for October (we receive the payments for October in November) were recorded. Most of the October payments were recorded in December. • Page 22 —Building Structure Permits are up $72,055 from last year. Development Services revenues overall are up a total of $115,493 from last year. • Page 22 — Parks & Recreation Program Fees are up $164,975 from last year. • Page 23 - Total Interest Earnings for all funds are up a total of $138,425 from last year. • Page 23 — We have received $250,493 more in interest with the LGIP from this point in time last year. And we have received $199,054 more in interest with the SCIP from this point in time last year. of Eb4 f a U~ w � Packet Pg. 30 Thank you. E OF EbAfQ�O Q w Packet Pg. 31