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2023-07-20 City Council FIN Special Packet1. Op E D o Agenda Edmonds City Council FINANCE COMMITTEE - SPECIAL MEETING CITY COUNCIL CONFERENCE ROOM 121 - 5TH AVENUE N, EDMONDS, WA 98020 J U LY 20, 2023, 3:00 PM COUNCIL COMMITTEE MEETINGS ARE WORK SESSIONS FOR THE COUNCIL AND CITY STAFF. COMMITTEE MEETING AGENDAS DO NOT INCLUDE AUDIENCE COMMENTS OR PUBLIC HEARINGS. STAFF AND COUNCILMEMBERS ATTEND COMMITTEE MEETINGS VIRTUALLY, AND MEMBERS OF THE PUBLIC ARE ENCOURAGED TO ATTEND THE SAME WAY. PERSONS WISHING TO ATTEND THIS MEETING VIRTUALLY IN LIEU OF IN -PERSON ATTENDANCE CAN CLICK ON OR PASTE THE FOLLOWING ZOOM MEETING LINK INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM. US/J/95798484261 OR JOIN BY DIAL -UP PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 IF MEMBERS OF THE PUBLIC CANNOT ACCESS THE VIRTUAL COMMITTEE MEETINGS WITH THEIR PERSONAL DEVICES, A MONITOR IS PROVIDED ON CITY COUNCIL COMMITTEE NIGHTS FROM 3:30- 930 PM AT THE CITY COUNCIL CONFERENCE ROOM AT 121 5TH AVE N, EDMONDS WA. COMMITTEE MEMBERS: WILL CHEN (CHAIR), SUSAN PAINE, COUNCIL PRESIDENT (EX-OFFICIO MEMBER) CALL TO ORDER COMMITTEE BUSINESS 1. Resolution for Annexation into RFA (15 min) 2. May 2023 Monthly Financial Report (10 min) 3. Surplus Assets (5 min) 4. Fund Balance Reserve Policy Discussion (20 min) ADJOURNMENT: 5:00 PM Edmonds City Council Agenda July 20, 2023 Page 1 2.1 City Council Agenda Item Meeting Date: 07/20/2023 Resolution for Annexation into RFA Staff Lead: Dave Turley Department: Administrative Services Preparer: Dave Turley Background/History The City is currently considering the possibility and ramifications of annexation into the South Snohomish County Regional Fire Authority. In order to work with the RFA and perform this analysis, the City Council needs to pass a Resolution notifying the RFA of this intent. Staff Recommendation Staff recommendation is for the Resolution to be placed on the Consent Agenda for the July 25 City Council meeting. Narrative The purpose of this Resolution is to provide official communication to the RFA that the City intends to investigate the advantages and disadvantages of annexation, and that we would like the RFA to investigate the ramifications to them as well. It will be noted that the Resolution states that the city "requests annexation into the South Snohomish County Regional Fire." This is the language preferred by the RFA to let them know that the City intends to begin researching the ramifications of annexation, and this language is in alignment with the language used in the applicable RCW. By using this language we are asking the RFA to begin their process and analysis. A decision will be made by Council later this year or in early 2024 whether or not to proceed with annexation, which would need to be done by placing the measure on a ballot. Attachments: Resolution Re RFA Annexation Packet Pg. 2 RESOLUTION NO. XXXX A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON EXPRESSING THE INTENT TO PURSUE THE BENEFITS OF RECEIVING FIRE AND EMERGENCY MEDICAL SERVICES FROM THE SOUTH SNOHOMISH COUNTY REGIONAL FIRE AUTHORITY VIA ANNEXATION WHEREAS, the City of Edmonds ("the City") and the South Snohomish County Fire & Rescue Regional Authority ("SCF") share a contiguous border along the City's Eastern boundary; and WHEREAS, the City is a fire protection jurisdiction as defined in RCW 52.26.020(3); and WHEREAS, RCW 52.26 authorizes two or more fire protection jurisdictions to participate in a regional fire services authority commonly known as a regional fire authority or "RFA' ; and WHEREAS, the City and SCF are interested in pursuing the potential operational efficiencies and cost savings over other available service providers, as a result of annexing into SCF; and WHEREAS, both the City and SCF believe that the public health and safety of the citizens they serve will benefit from annexation into SCF; NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, THAT: Section 1. Pursuant to RCW 52.26.300(2), the City requests annexation into the South Snohomish County Regional Fire, subject to the provisions of RCW 52.26.300(3) and voter approval. Section 2. The City Clerk is instructed to file this Resolution with the Governing Board of SCF in accordance with RCW 52.26.300(2). Resolved this day of 2023. APPROVED: MIKE NELSON, MAYOR Packet Pg. 3 2.1.a ATTEST/AUTHENTICATED: SCOTT PASSEY, CITY CLERK FILED WITH THE CITY CLERK: PASSED BY THE CITY COUNCIL: RESOLUTION NO.: Packet Pg. 4 2.2 City Council Agenda Item Meeting Date: 07/20/2023 May 2023 Monthly Financial Report Staff Lead: Dave Turley Department: Administrative Services Preparer: Sarah Mager Background/History N/A Staff Recommendation Review and move to full council to be received for filing. Narrative May 2023 Monthly Financial Report Attachments: May 2023 Monthly Financial Report Packet Pg. 5 I 2.2.a I OF EDP � d 1)7 C. 1 $9v CITY OF EDMONDS MONTHLY BUDGETARY FINANCIAL REPORT MAY 2023 Packet Pg. 6 1 I 2.2.a I INVESTMENT PORTFOLIO SUMMARY City of Edmonds Investment Portfolio Detail As of May 31, 2023 Years Agency/ Investment Purchase to Par Market Maturity Coupon Issuer Type Rice Maturity Value Value Date Rate FHLB Kent WA First Financial - ECA First Financial - Waterfront Center FHLB FHLB FM FNMA FHLB Spokane County WA FHLMC Farmer Mac FHLB US Treasury Note Farmer Mac Bonds 1,996,590 0.35 2,000,000 1,963,631 10/05/23 0.22% Bonds 286,648 0.50 250,000 251,978 12/01/23 5.00% CD 2,803,516 0.58 2,803,516 2,803,516 12/28/23 2.08% CD 245,000 0.58 245,000 245,000 12/28/23 1.49% Bonds 2,004,464 0.63 2,000,000 1,993,829 01/16/24 4.81% Bonds 954,866 0.86 1,000,000 956,184 04/10/24 0.35% Bonds 996,082 1.05 1,000,000 975,285 06/17/24 2.80% Bonds 992,693 1.09 1,000,000 965,089 07/02/24 1.75% Bonds 950,774 1.47 1,000,000 940,406 11/18/24 0.90% Bonds 207,260 1.51 200,000 191,252 12/01/24 2.10% Bonds 974,798 1.79 1,000,000 979,782 03/13/25 3.75% Bonds 1,995,088 1.88 2,000,000 1,982,954 04/17/25 4.25% Bonds 969,524 2.16 1,000,000 977,376 07/28/25 3.60% Note 964,597 2.21 1,000,000 973,164 08/15/25 3.13% Bonds 1,994,172 2.68 2,000,000 1,976,320 02/02/26 3.95% TOTAL SECURITIES 18,336,072 1.29 18,498,516 18,175,765 Washington State Local Gov't Investment Pool Snohomish County Local Gov't Investment Pool TOTAL PORTFOLIO Kent WA, Issuer Diversification 1% FHLMC, 5%_ First Financial Spokane Farmer CD, 16% County Mac, 22% WA, 1% FHLB, 38% 20,377,628 20,377,628 Demand 5.16% 33,498,794 33,498,794 Demand 2.77% $ 72,374,938 $ 72,052,187 Cash and Investment Balances Checking, (in $ Millions) $5.91, 8% Note, Bonds, $1.00, 1% $14.45, CD's, 18% State LGIP, $3.05, $20.38 4% 26% County LGIP, $33.50, 1 Packet Pg. 7 I 2.2.a I INVESTMENT PORTFOLIO SUMMARY Annual Interest Income $1,400, 000 $1,200,000 $1 236 875 $947,931 $950,684 1 091 709 $1,000,000 $882 556 $800,000 $600,000 $4 $400,000 $200,000 [it 2018 2019 2020 2021 2022 YTD 2023 2 Packet Pg. 8 I 2.2.a I GENERAL FUND SUMMARY General Fund Revenues and Expenses (Rolling 24 months) General Fund Revenues General Fund Expenses 10,000,000 — 9,000,000 8,000,000 • H 7,000, 000 •� • • 6,000,000 • • • Ip • �� 5,000, 000 • _ /` • y` • 4,000,0003,000,000 • ,000, 000 1,000,000 — — June September December March June September December March General Fund Tax Revenue (2017 through 2022 Sales Tax Property Tax EMS Tax Other Taxes 12,000,000 10,000,000 8,000,000 - — 6,000, 000 4,000, 000 2,000, 000 2017 2018 2019 2020 2021 2022 General Fund Tax Revenue (2023 YTD) 7,000,000 6,000, 000 $ 5,742,964 5,000,000 4,000,000 53,814,729 3,000, 000 $2,303,424 2,000,000 1,000, 000 Sales Tax Property Tax EMS Tax Other Taxes Q 3 Packet Pg. 9 I 2.2.a I City of Edmonds, WA Monthly Revenue Summary -General Fund 2023 General Fund Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 2,761,312 $ 2,761,312 $ 2,320,252 -15.97% February 5,473,311 2,711,999 4,920,100 -10.11% March 8,241,198 2,767,887 8,150,445 -1.10% April 11,660,900 3,419,702 16,689,365 43.12% May 21,798,797 10,137,897 21,615,550 -0.84% June 24,756,969 2,958,172 July 27,636,403 2,879,434 August 30,928,872 3,292,469 September 33,641,482 2,712,609 October 38,105,910 4,464,428 November 48,001,239 9,895,330 December 51,186,745 3,185,506 City of Edmonds, WA Monthly Revenue Summary -Real Estate Excise Tax 2023 Real Estate Excise Tax 1 & 2 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 342,055 $ 342,055 $ 151,084 -55.83% February 560,818 218,763 270,799 -51.71% March 909,543 348,725 521,829 -42.63% April 1,192,058 282,515 745,931 -37.42% May 1,541,969 349,911 1,053,507 -31.68% June 1,918,974 377,006 July 2,301,683 382,709 August 2,708,930 407,246 September 3,135,518 426,588 October 3,524,452 388,935 November 3,913,570 389,117 December 4,400,000 486,430 *The monthly budget forecast columns are based on a five-year average. w Packet Pg. 10 1 SALES TAX SUMMARY I 2.2.a I Sales Tax Analysis By Category Current Period: May 2023 Year -to -Date Total $4,607,308 Automotive Repair, Amusement & $99,882 Recreation, $37,618 Construction Trade, Health & Personal $716,461 Care, $35,752 Business Services, Accommodation, $494,353 Gasoline, $0 $15,509 Retail Food Stores, Clothing and $154,861 Accessories, $147,770 Retail Automotive, Communications, $1,110,109 $104,659 Misc Retail, $879,201 Wholesale Trade, $133,236 --40 Manufacturing, $47,842 Others, $106,892 Eating & Drinking, $523,164 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 Annual Sales Tax Revenue $10,302,518 $7,395,114 $8,406,296 $8,4�15 $8,317,046 27 $4,607,308 2017 2018 2019 2020 2021 2022 YTD 2023 5 I Packet Pg. 11 I 2.2.a I City of Edmonds, WA Monthly Revenue Summary -Sales and Use Tax 2023 Sales and Use Tax Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 911,577 $ 911,577 $ 879,231 -3.55% February 1,999,408 1,087,831 1,908,832 -4.53% March 2,854,859 855,451 2,781,110 -2.58% April 3,643,225 788,366 3,621,184 -0.60% May 4,624,484 981,259 4,607,308 -0.37% June 5,567,972 943,488 July 6,580,085 1,012,114 August 7,669,335 1,089,249 September 8,683,583 1,014,248 October 9,768,647 1,085,064 November 10,864,900 1,096,253 December 11,900,000 1,035,100 Sales and Use Tax 12,000,000 11,000, 000 10,000,000 9,000,000 8,000,000 7,000,000 40 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC —0-- Current Year Budget — —Prior Year City of Edmonds, WA Monthly Revenue Summary -Real Personal/Property Tax 2023 Real Personal/Property Tax Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 49,915 $ 49,915 $ 26,466 -46.98% February 78,108 28,192 147,332 88.63% March 375,054 296,947 824,405 119.81% April 912,236 537,182 4,885,632 435.57% May 5,909,096 4,996,860 5,742,964 -2.81% June 6,029,957 120,861 July 6,148,773 118,816 August 6,198,768 49,995 September 6,260,415 61,647 October 6,466,132 205,717 November 11,227,156 4,761,024 December 11,327,000 99,844 Real PersonaMoperty Tax 12,000,000 11,000, 000 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC �Cunrent Yeaz Budget Prior Year *The monthly budget forecast columns are based on a five-year average. 6 Packet Pg. 12 I 2.2.a I City of Edmonds, WA Monthly Revenue Summary -Water Utility Tax 2023 Water Utility Tax Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 86,205 $ 86,205 86,092 -0.13% February 146,468 60,263 143,978 -1.70% March 232,107 85,639 221,845 -4.42% April 288,835 56,728 279,282 -3.31% May 373,578 84,744 363,282 -2.76% June 439,121 65,542 July 541,031 101,910 August 629,368 88,337 September 748,356 118,987 October 835,253 86,898 November 933,046 97,793 December 993,712 60,666 Sewer Utility Tax Water Utility Tax 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC --*-- Current Yeaz Budget � Prior Year City of Edmonds, WA Monthly Revenue Summary -Sewer Utility Tax 2023 Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 95,852 $ 95,852 $ 89,935 -6.17% February 174,661 78,808 166,439 -4.71% March 269,654 94,993 256,368 -4.93% April 348,626 78,972 333,172 -4.43% May 444,771 96,145 424,703 -4.51% June 523,850 79,080 July 620,193 96,343 August 699,682 79,489 September 799,189 99,507 October 879,620 80,432 November 976,901 97,281 December 1,055,821 78,920 Sewer Utility Tax 1,zuu,uuV 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC -*-- Current Yeaz Budget -mb-- Prior Year *The monthly budget forecast columns are based on a five-year average. 7 Packet Pg. 13 I 2.2.a I City of Edmonds, WA Monthly Revenue Summary -Meter Water Sales 2023 Meter Water Sales Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 898,592 $ 898,592 $ 860,924 -4.19% February 1,526,893 628,301 1,439,675 -5.71% March 2,419,579 892,685 2,218,275 -8.32% April 3,010,919 591,341 2,792,540 -7.25% May 3,894,276 883,356 3,632,474 -6.72% June 4,577,455 683,180 July 5,644,291 1,066,835 August 6,565,058 920,767 September 7,805,695 1,240,637 October 8,711,524 905,829 November 9,730,927 1,019,403 December 10,363,937 633,010 City of Edmonds, WA Monthly Revenue Summary -Storm Water Sales 2023 Storm Water Sales Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 484,003 $ 484,003 $ 417,703 -13.70% February 1,535,452 1,051,449 1,359,827 -11.44% March 2,020,122 484,671 1,794,224 -11.18% April 2,451,545 431,422 2,181,313 -11.02% May 2,936,868 485,323 2,616,433 -10.91% June 3,368,111 431,243 July 3,844,019 475,908 August 4,895,662 1,051,643 September 5,380,996 485,335 October 5,812,621 431,625 November 6,298,011 485,390 December 6,714,303 416,292 Storm Water Sales 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. Packet Pg. 14 I 2.2.a I City of Edmonds, WA Monthly Revenue Summary-Unmeter Sewer Sales 2023 Unmeter Sewer Sales Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 958,430 $ 958,430 $ 900,021 -6.09% February 1,745,646 787,217 1,665,119 -4.61% March 2,695,497 949,850 2,565,291 -4.83% April 3,484,346 788,849 3,333,389 -4.33% May 4,445,696 961,351 4,249,590 -4.41% June 5,235,623 789,927 July 6,198,081 962,458 August 6,992,099 794,018 September 7,987,044 994,945 October 8,790,485 803,441 November 9,763,192 972,707 December 10,551,011 787,819 Unmeter Sewer Sales 11,000,000 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 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. 9 Packet Pg. 15 IL 2.2.a I City of Edmonds, WA Monthly Expenditure Report -General Fund 2023 General Fund Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 5,927,706 $ 5,927,706 $ 4,868,760 -17.86% February 10,685,790 4,758,084 10,063,682 -5.82% March 15,376,562 4,690,772 14,793,075 -3.79% April 19,879,278 4,502,716 18,985,494 -4.50% May 24,735,536 4,856,258 23,497,459 -5.01% June 30,336,520 5,600,984 July 35,118,165 4,781,645 August 39,722,275 4,604,110 September 44,842,950 5,120,675 October 49,923,345 5,080,396 November 55,595,470 5,672,124 December 61,780,797 6,185,327 Non -Departmental General Fund 55,000,000 50,000,000 55,000,000 50,000,000 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget Prior Year City of Edmonds, WA Monthly Expenditure Report -Non -Departmental 2023 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 2,285,040 $ 2,285,040 $ 1,642,894 -28.10% February 3,483,056 1,198,016 3,380,586 -2.94% March 4,581,985 1,098,930 4,986,307 8.82% April 5,531,435 949,450 6,091,521 10.13% May 6,720,936 1,189,500 7,245,913 7.81% June 8,483,040 1,762,104 July 9,529,850 1,046,810 August 10,426,806 896,956 September 11,638,078 1,211,272 October 12,757,540 1,119,461 November 14,139,943 1,382,404 December 15,627,335 1,487,392 *The monthly budget forecast columns are based on a five-year average. O N ra C R C LL t y+ C O M N O N R O CL CD C ra C LL t r C O 2 M N O N fC C N t C� r Q 10 Packet Pg. 16 I 2.2.a I City of Edmonds, WA Monthly Expenditure Report -City Council 2023 City Council Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 31,557 $ 31,557 $ 33,649 6.63% February 65,534 33,977 71,252 8.72% March 104,052 38,517 108,460 4.24% April 140,886 36,835 142,437 1.10% May 187,929 47,042 180,396 -4.01% June 237,649 49,721 July 274,904 37,254 August 325,684 50,780 September 364,850 39,166 October 398,315 33,465 November 440,363 42,047 December 486,256 45,893 Office of Mayor City Council 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC --0--Current Year Budget � Prior Year City of Edmonds, WA Monthly Expenditure Report -Office of Mayor 2023 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 41,315 $ 41,315 $ 32,343 -21.72% February 84,527 43,212 63,133 -25.31% March 126,265 41,738 101,671 -19.48% April 168,834 42,569 133,210 -21.10% May 210,482 41,647 164,114 -22.03% June 251,630 41,148 July 293,597 41,967 August 335,203 41,606 September 377,026 41,823 October 417,998 40,972 November 461,344 43,346 December 504,873 43,529 Office of Mayor 550,000 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC -"-Current Year Budget �PriorYear *The monthly budget forecast columns are based on a five-year average. 11 Packet Pg. 17 I 2.2.a I City of Edmonds, WA Monthly Expenditure Report -Human Resources 2023 Human Resources Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 115,623 $ 115,623 $ 93,116 -19.47% February 219,704 104,081 164,590 -25.09% March 315,079 95,373 230,737 -26.77% April 415,556 100,479 296,057 -28.76% May 515,736 100,180 367,942 -28.66% June 651,433 135,696 July 740,790 89,357 August 838,595 97,805 September 943,572 104,976 October 1,041,965 98,394 November 1,155,844 113,879 December 1,296,947 141,103 Human Resources 1,SUu,uuu 1,200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC +Current Year Budget Prior Year City of Edmonds, WA Monthly Expenditure Report -Municipal Court 2023 Municipal Court Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 166,316 $ 166,316 $ 114,975 -30.87% February 334,870 168,554 231,321 -30.92% March 508,443 173,573 352,625 -30.65% April 684,089 175,646 476,351 -30.37% May 872,479 188,390 611,186 -29.95% June 1,045,638 173,160 July 1,222,956 177,318 August 1,420,871 197,915 September 1,602,183 181,311 October 1,790,590 188,407 November 2,016,553 225,963 December 2,240,163 223,610 2,400,000 Municipal Court 2,200,000 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Current Year Budget �Prior Year *The monthly budget forecast columns are based on a five-year average. 12 Packet Pg. 18 I 2.2.a I City of Edmonds, WA Monthly Expenditure Report -Community Services/Economic Development 2023 Community Services/Economic Development Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 82,547 $ 82,547 $ 84,200 2.00% February 173,284 90,737 172,586 -0.40% March 266,584 93,300 263,059 -1.32% April 355,832 89,248 362,832 1.97% May 448,151 92,318 470,437 4.97% June 542,079 93,928 July 640,333 98,254 August 757,348 117,015 September 866,737 109,390 October 980,673 113,936 November 1,126,880 146,206 December 1,309,051 182,171 *The monthly budget forecast columns are based on a five-year average. 13 Packet Pg. 19 I 2.2.a I City of Edmonds, WA Monthly Expenditure Report - Fund 512 - Technology Rental Fund 2023 Fund 512 - Technology Rental Fund Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 217,095 $ 217,095 $ 355,645 63.82% February 359,768 142,674 530,347 47.41% March 555,080 195,311 683,467 23.13% April 632,977 77,897 798,011 26.07% May 744,000 111,023 888,529 19.43% June 870,622 126,623 July 964,912 94,290 August 1,105,547 140,635 September 1,246,510 140,964 October 1,404,743 158,232 November 1,508,608 103,865 December 1,753,427 244,819 City of Edmonds, WA Monthly Expenditure Report -Administrative Services 2023 Administrative Services Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 265,328 $ 265,328 $ 253,437 -4.48% February 451,089 185,762 571,249 26.64% March 637,562 186,473 774,413 21.46% April 828,444 190,882 964,313 16.40% May 1,018,215 189,771 1,154,564 13.39% June 1,276,857 258,642 July 1,491,726 214,869 August 1,682,764 191,039 September 1,874,849 192,085 October 2,075,444 200,595 November 2,300,685 225,240 December 2,497,266 196,581 *The monthly budget forecast columns are based on a five-year average. 14 Packet Pg. 20 I 2.2.a I City of Edmonds, WA Monthly Expenditure Report -City Attorney 2023 City Attorney Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 96,815 $ 96,815 $ 24,570 -74.62% February 193,630 96,815 109,813 -43.29% March 290,445 96,815 186,270 -35.87% April 387,260 96,815 276,332 -28.64% May 484,075 96,815 349,828 -27.73% June 580,890 96,815 July 677,705 96,815 August 774,520 96,815 September 871,335 96,815 October 968,150 96,815 November 1,064,965 96,815 December 1,161,780 96,815 Police City Attorney 1,200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC --0-- Current Year Budget � Prior Year City of Edmonds, WA Monthly Expenditure Report -Police 2023 Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 1,164,139 $ 1,164,139 $ 1,041,369 -10.55% February 2,327,027 1,162,888 2,119,852 -8.90% March 3,542,656 1,215,629 3,173,554 -10.42% April 4,715,234 1,172,578 4,326,784 -8.24% May 5,930,366 1,215,132 5,521,298 -6.90% June 7,213,453 1,283,086 July 8,432,845 1,219,393 August 9,581,468 1,148,623 September 10,790,812 1,209,344 October 12,043,702 1,252,889 November 13,512,852 1,469,150 December 14,993,027 1,480,175 Police 15,000,000 14,000,000 13,000,000 12,000,000 11,000,000 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Current Year Budget �Prior Year *The monthly budget forecast columns are based on a five-year average. 15 Packet Pg. 21 I 2.2.a I City of Edmonds, WA Monthly Expenditure Report -Development Services 2023 Planning & Development Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 395,975 $ 395,975 $ 286,492 -27.65% February 813,013 417,038 595,086 -26.80% March 1,213,509 400,496 913,919 -24.69% April 1,635,884 422,375 1,265,403 -22.65% May 2,051,113 415,229 1,622,646 -20.89% June 2,463,993 412,881 July 2,914,697 450,704 August 3,337,656 422,959 September 3,778,605 440,949 October 4,217,116 438,512 November 4,689,600 472,483 December 5,236,088 546,488 Parks & Recreation Planning & Development 5,500,000 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 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 -Parks & Recreation 2023 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance % January $ 457,812 $ 457,812 $ 589,720 28.81% February 958,458 500,646 958,125 -0.03% March 1,459,194 500,736 1,386,849 -4.96% April 1,960,748 501,554 1,788,118 -8.80% May 2,473,516 512,768 2,229,794 -9.85% June 3,017,740 544,223 July 3,613,117 595,377 August 4,229,777 616,661 September 4,893,730 663,953 October 5,439,139 545,409 November 5,995,908 556,769 December 6,573,617 577,709 *The monthly budget forecast columns are based on a five-year average. 16 Packet Pg. 22 I 2.2.a I City ofEdmonds, WA Monthly Expenditure Report - Fund 016 - Building Maintenance Fund 2023 Fund 016 - Building Maintenance Fund Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 106,250 $ 106,250 $ 81,158 -23.62% February 212,500 106,250 97,897 -53.93% March 318,750 106,250 100,936 -68.33% April 425,000 106,250 116,404 -72.61% May 531,250 106,250 35,246 -93.37% June 637,500 106,250 July 743,750 106,250 August 850,000 106,250 September 956,250 106,250 October 1,062,500 106,250 November 1,168,750 106,250 December 1,275,000 106,250 Facilities Maintenance Fund 016 - Building Maintenance Fund 1,300,000 1,200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC � Cutrent Year Budget Prior Year City of Edmonds, WA Monthly Expenditure Report -Facilities Maintenance 2023 Cumulative Monthly Budget Forecast Budget Forecast YTD Actuals Variance January $ 288,350 $ 288,350 $ 335,018 16.18% February 659,070 370,720 935,298 41.91% March 1,043,814 384,744 1,264,752 21.17% April 1,410,640 366,825 1,451,697 2.91% May 1,744,249 333,609 1,803,967 3.42% June 2,018,822 274,573 July 2,352,264 333,442 August 2,785,180 432,916 September 3,285,870 500,689 October 3,843,053 557,183 November 4,302,471 459,418 December 5,031,410 728,939 *The monthly budget forecast columns are based on a five-year average. 17 Packet Pg. 23 I 2.2.a I City of Edmonds, WA Monthly Expenditure Report -Engineering 2023 Engineering Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 282,359 $ 282,359 $ 261,418 -7.42% February 565,864 283,505 531,670 -6.04% March 854,328 288,463 807,168 -5.52% April 1,146,492 292,164 1,076,687 -6.09% May 1,466,062 319,570 1,353,969 -7.65% June 1,761,147 295,085 July 2,068,691 307,544 August 2,369,679 300,989 September 2,661,264 291,584 October 2,957,705 296,441 November 3,281,224 323,519 December 3,605,639 324,415 O N U C R C LL t a+ C O M M N O N O d R U C C LL t C O 2 CO) N O N f� C N E t V M a+ Q *The monthly budget forecast columns are based on a five-year average. 18 Packet Pg. 24 I 2.2.a I Page 1 of 1 C TTY OF EDMONDS REVENUES BY FUND - SUMMARY Fund 2023 Amended 5/31/2022 5/31/2023 Amount No. Title Budget Revenues Revenues Remaining %Received 001 GENERAL FUND $ 51,186,745 $ 19,290,212 $ 21,615,550 $ 29,571,195 420/c 009 LEOFF-MEDICAL INS. RESERVE 225,000 - - 225,000 00/c Ol l RISK MANAGEMENT RESERVE FUND - - 00/c 012 CONTINGENCY RESERVE FUND 447,522 447,522 00/c 014 HISTORIC PRESERVATION GIFT FUND - - - - 00/c 016 BUILDING MAINTENANCE FUND 17,480 14,021 42,338 (24,858) 2420/c 017 MARSH RESTORATION & PRESERVATION FUND - - - - 00/c 018 EDMONDS HOMELESSNESS RESPONSE FUND - - - - 00/c O N 104 DRUG ENFORCEMENT FUND 167,650 729 902 166,748 1 % Ill STREET FUND 1,815,410 549,412 547,463 1,267,947 300/c V 112 COMBINED STREET CONST/IMPROVE 12,366,800 1,244,306 3,378,473 8,988,327 27% 117 MUNICIPAL ARTS ACQUIS. FUND 98,098 84,277 14,689 83,409 1501( LL 118 MEMORIAL STREET TREE - - - - 00/, s 120 HOTEL/MOTEL TAX REVENUE FUND 84,400 35,174 38,191 46,209 450/, _ O 121 EMPLOYEE PARKING PERMIT FUND 38,960 11,669 12,655 26,305 32% 122 YOUTH SCHOLARSHIP FUND 1,660 139 91 1,569 50/c N O 123 TOURISM PROMOTIONAL FUND/ARTS 30,440 12,422 13,221 17,219 430/c N A 125 REAL ESTATE EXCISE TAX 2 2,320,090 690,422 545,435 1,774,655 240/c 126 REAL ESTATE EXCISE TAX 1 2,302,980 684,501 551,619 1,751,361 24% v 127 GIFT S CATALOG FUND 135,340 74,921 53,500 81,840 400/c O C. 130 CEMETERY MAINTENANCE/IMPROVEMT 150,960 84,910 75,861 75,099 5001, 136 PARKSTRUST FUND 5,460 1,632 (7,497) 12,957 -137% �p 137 CEMETERY MAINTENANCE TRUST FD 51,500 19,896 14,905 36,595 290/c .O C O 138 SISTER CITY COMMISSION 10,430 150 117 10,313 1% IL 140 BUSINESS IMPROVEMENT DISTRICT 88,645 54,618 53,037 35,608 600/c 141 AFFORDABLE AND SUPPORTIVE HOUSINGFUND 65,000 24,287 21,312 43,688 330/c r C 142 EDMONDS RESCUE PLAN FUND 1,669,000 - 668,774 1,000,226 400/, 143 TREE FUND 215,100 198 1,355 213,745 10/c M N 231 2012 LT GO DEBT SERVICE FUND 309,800 30,871 28,458 281,343 9% N 332 PARKS CAPITAL CONSTRUCTION FUND 2,713,902 810,944 522,921 2,190,981 19% 411 COMBINED UTILITY OPERATION - 70,785 57,265 (57,265) 0% w 421 WAT ER UT ILIT Y FUND 11,950,114 4,103,567 4,207,711 7,742,403 350/, 422 STORM UTILITY FUND 9,020,452 2,871,175 3,309,321 5,711,131 37% t 423 SEWER/WWTP UTILITY FUND 15,898,844 7,948,007 8,526,944 7,371,900 540/c v O 424 BOND RESERVE FUND 1,991,860 1,115 6,694 1,985,166 r w 00/c Q 511 EQUIPMENT RENTAL FUND 4,188,740 761,804 1,090,665 3,098,075 260/c 512 TECHNOLOGY RENTAL FUND 1,481,194 483,440 662,656 818,538 450/c $ 121,049,576 $ 39,959,604 $ 46,054,626 $ 74,994,950 380% 19 Packet Pg. 25 I 2.2.a I Page 1 of 1 C PIY OF EDMONDS EXPENDITURES BY FUND - SUMMARY Fund 2023 Amended 5/31/2022 5/31/2023 Amount No. Title Budget Expenditures Expenditures Remaining %Spent 001 GENERAL FUND $ 61,780,797 $ 19,128,482 $ 23,497,459 $ 38,283,338 380 009 LEOFF-MEDICAL INS. RESERVE 367,140 126,014 154,761 212,379 420 O11 RISK MANANGEMENT RESERVE FUND 25,000 - - 25,000 0% 014 HISTORIC PRESERVATION GIFT FUND 5,900 - - 5,900 0% 016 BUILDING MAINTENANCE FUND 1,275,000 17,074 35,246 1,239,754 30/c 017 MARSH RESTORATION & PRESERVATION FUND - - - - 0% 018 EDMONDS HOMELESSNESS RESPONSE FUND - - - 00 019 EDMONDS OPIOID RESPONSE FUND - - - 0% 0 104 DRUG ENFORCEMENT FUND 45,800 - - 45,800 N 00/c tY 111 STREET FUND 2,583,414 934,609 1,337,791 1,245,623 520/, t) 112 COMBINED STREET CONST/IMPROVE 11,273,695 605,359 2,170,132 9,103,563 19% 117 MUNICIPAL ARTS ACQUIS. FUND 207,380 16,940 34,885 172,495 170/c LL 118 MEMORIAL STREET TREE - - - - 00/c s 120 HOTEL/MOTEL TAX REVENUE FUND 95,400 19,714 3,934 91,466 40/, _ O 121 EMPLOYEE PARKING PERMIT FUND 26,880 - - 26,880 0% 122 YOUTH SCHOLARSHIP FUND 3,000 - - 3,000 0% N O 123 TOURISM PROMOTIONAL FUND/ARTS 28,500 533 5,222 23,278 180/, N A 125 REAL ESTATE EXCISE TAX 2 4,315,418 643,105 816,074 3,499,344 19% 126 REAL ESTATE EXCISE TAX 1 1,800,512 134,700 130,013 1,670,499 71/c 127 GIFTS CATALOG FUND 497,598 4,334 97,011 400,587 19% 0 0. 130 CEMETERY MAINTENANCE/IMPROVEMT 249,413 78,494 107,230 142,183 430/, 136 PARKS TRUST FUND 43,842 2,540 - 43,842 00/, <0 137 CEMETERY MAINTENANCE TRUST FUND 50,000 - - 50,000 00/, C O 138 SISTER CITY COMMISSION 11,900 70 415 11,485 30/, LL 140 BUSINESS IMPROVEMENT DISTRICT 88,575 20,878 20,890 67,685 240/, >, 142 EDMONDS RESCUE PLAN FUND 1,669,000 380,776 673,314 995,686 400/c 143 TREE FUND 239,800 - - 239,800 00/c 231 2012 LT GO DEBT SERVICE FUND 309,800 - - 309,800 00/c N 332 PARKS CAPITAL CONSTRUCTION FUND 2,255,647 2,323,141 974,759 1,280,888 430/c N 421 WATER UTILITY FUND 11,819,111 2,358,873 2,988,333 8,830,778 250/c CC 422 STORM UTILITY FUND 8,292,377 1,741,370 2,044,743 6,247,634 250/c 423 SEWER/WWTP UTILITY FUND 16,488,945 6,399,786 5,979,189 10,509,756 360/, N t 424 BOND RESERVE FUND 1,989,820 - - 1,989,820 0% t� 511 EQUIPMENT RENTAL FUND 4,431,858 514,481 1,042,885 3,388,973 240/, ;C w Q 512 TECHNOLOGY RENTAL FUND 1,753,427 603,046 888,529 864,898 510/c $ 134,024,949 $ 36,054,321 $ 439002,814 $ 91,0229135 320% 20 Packet Pg. 26 Page 1 of 3 C ITY O F EDMO NDS REVENUES - GENERAL FUND 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Revenues Revenues Remaining %Received TAXES: 1 REAL PERSONAL / PROPERTY TAX 2 EMSPROPERTY TAX 3 VOTED PROPERTY TAX 4 LOCAL RETAIL SALES/USE TAX 1 5 NATURAL GAS USE TAX 6 1/10 SALES TAX LOCAL CRIM JUST 7 ELECTRIC UTILITY TAX 8 GASUTILITY TAX 9 SOLID WASTE UTILITY TAX 10 WATERUTILITY TAX 11 SEWERUTILITYTAX 12 STORMWATERUTILITY TAX 13 T.V. CABLE UTILITY TAX 14 TELEPHONE UTILITY TAX 15 PULLTABSTAX 16 AMUSEMENT GAMES 17 LEASEHOLD EXCISE TAX LIC INS ES AND PERMITS: 18 FIRE PERMITS -SPECIAL USE 19 POLICE - FINGERPRINTING 20 VENDING MACHINE/CONCESSION 21 FRANCHISE AGREEMENT-COMCAST 22 FRANCHISE FEE-EDUCATION/GOVERNMENT 23 FRANCHISE AGREEMENT-ZIPLY FIBER 24 OLYMPIC VIEW WATER DISTRICT FRANCHISE 25 GENERAL BUSINESS LICENSE 26 DEV SERV PERMIT SURCHARGE 27 RIGHT OF WAY FRANCHISE FEE 28 BUILDING PERMIT S 29 FIRE PERMIT 30 ENGINEERING PERMIT 31 ANIMAL LICENSES 32 STREET AND CURB PERMIT 33 STREET AND CURB PERMIT W/LEASEHOLD TAX 34 OTRNON-BUSLIC/PERMITS 35 SPECIAL EVENT REVIEW INTERGOVERNMENTAL: 36 FEDERAL GRANTS - BUDGET ONLY 37 DOJ 15-0404-0-1-754 - BULLET PROOF VEST 38 HIGH VISIBILITY ENFORCEMENT 39 CORONAVIRUS RELIEF FUND 40 STATE GRANTS- BUDGET ONLY 41 WA STATE TRAFFIC COMM GRANT 42 WASHINGTON STATE ARTS COMMISSION 43 PUD PRIVILEDGE TAX 44 TRIAL COURT IMPROVEMENT 45 CJ -POPULATION 46 CRIMINAL JUSTICE -SPECIAL PROGRAMS 47 MARIJUANA EXCISE TAX DISTRIBUTION 48 DUI - CITIES 49 FIRE INS PREMIUM TAX 50 LIQUOR EXCISE TAX 51 LIQUOR BOARD PROFITS 52 MISCELLANEOUS INTERLOCAL REVENUE 53 FIRST RESPONDERS FLEX FUND 54 DISCOVERY PROGRAMS TECHNOLOGY ACQ. $ 11,327,000 $ 5,612,365 $ 5,742,964 $ 5,584,036 5101( 4,578,000 2,236,457 2,303,424 2,274,576 5001( 500 27 4 496 10/( 11,900,000 4,483,349 4,607,308 7,292,692 391/1( 7,600 7,539 9,055 (1,455) 1190/( 1,150,000 415,496 424,737 725,263 370/c 1,900,000 858,720 887,688 1,012,312 470/( 845,000 469,966 562,001 282,999 670/( 384,000 143,254 163,027 220,973 420/( 1,000,234 350,681 363,282 636,952 361/1( 942,960 321,835 424,703 518,257 450/( 621,458 253,170 261,645 359,813 420/( 850,000 342,948 342,228 507,772 400/( 773,000 208,020 171,355 601,645 220/( 80,200 38,435 44,677 35,523 560/( 350 - 22 328 60/( 326,000 152,734 160,306 165,694 490/( 36,686,302 15,894,995 16,468,426 20,217,876 45% 250 100 50 200 200/( 700 20 420 280 600/( 94,500 29,774 31,950 62,550 340/( 702,700 349,602 344,068 358,632 490/( 41,000 15,062 13,875 27,125 340/( 100,600 24,677 20,529 80,071 200/( 450,000 199,970 227,219 222,781 500/( 250,000 102,163 109,000 141,000 440/( 80,000 41,935 41,490 38,510 520/( 30,000 30,173 13,962 16,038 470/( 750,600 348,456 198,800 551,800 260/( - - 2,300 (2,300) 00/( - - 25,094 (25,094) 00/( 24,000 9,386 11,648 12,352 490/( 75,000 39,405 19,990 55,010 270/( - - 3,447 (3,447) 00/( 20,000 - 7,211 12,789 360/( - 6,450 551 (551) 00/( 2,619,350 1,197,173 1,071,604 1,547,746 410% 166,309 - - 166,309 00/( 9,000 5,237 - 9,000 00/( 11,100 718 9,479 1,621 850/( 1,494,875 - 24,010 1,470,865 20/( 244,645 - - 244,645 00/( - 307 - - 00/( 34,000 2,000 - 34,000 00/( 210,500 - 219,274 (8,774) 1040/( 16,740 10,776 5,338 11,402 320/( 13,070 7,142 7,518 5,552 580/( 50,600 25,386 26,595 24,005 530/c 125,000 24,665 26,513 98,487 210/( 4,500 3,587 105 4,395 20/( - 56,744 75,698 (75,698) 00/( 325,000 152,556 150,641 174,359 460/( 343,200 83,190 82,149 261,051 240/( - - 500 (500) 00/( 1,000 - - 1,000 00/( 550 - - 550 00/( 3,050,089 372,308 627,819 2,422,270 210% Q 2022 Local Retail Sa/esiUse Tax revenues are $123,960 higher than 2021 revenues. Please also see pagespages 5 & 6. 21 1 Packet Pg. 27 1 2.2.a Page 2 of 3 CITY OF EDMO NDS REVENUES - GENERAL FUND 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Revenues Revenues Remaining %Received 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 WARRANT PREPARATION FEE 7 IT TIME PAY FEE 8 MUNIC.-DIST. COURT CURR EXPEN 9 CLERKS TIME FOR SALE OF PARKING PERMITS 10 PHOTOCOPIES 11 POLICE DISCLOSURE REQUESTS 12 ENGINEERING FEES AND CHARGES 13 ELECTION CANDIDATE FILINGFEES 14 CUSTODIAL SERVICES(SNO-ISLE) 15 PASSPORTS AND NATURALIZATION FEES 16 POLICE SERVICES SPECIAL EVENTS 17 CAMPUS SAFETY-EDM. SCH. DIST. 18 WOODWAY-LAW PROTECTION 19 MISCELLANEOUS POLICE SERVICES 20 FIRE DISTRICT #1 STATION BILLINGS 21 LEGAL SERVICES 22 ADULT PROBATION SERVICE CHARGE 23 BOOKING FEES 24 FIRE CONSTRUCTION INSPECTION FEES 25 EMERGENCY SERVICE FEES 26 EMS TRANSPORT USER FEE 27 FLEX FUEL PAYMENTS FROM STATIONS 28 ZONING/SUBDIVISION FEE 29 BUILDING PLAN REVIEW AND INSPECTION 30 FIRE PLAN REVIEW 31 PLANNING REVIEW AND INSPECTION 32 S.E.P.A. REVIEW 33 ENGINEERINGPLAN REVIEW AND INSPECTION 34 CRITICAL AREA STUDY 35 GYM AND WEI MTROOM FEES 36 PROGRAM FEES 37 HOLIDAY MARKET REGISTRATION FEES 38 UPTOWN EVENING MARKET FEES 39 WINTERMARKET FEES 40 EDMONDS COMMUNITY FAIR FEES 41 BIRD FEST REGISTRATION FEES 42 INTERFUND REIMBURSEMENT -CONTRACT SVCS $ 3,000 $ 2,212 $ 924 $ 2,076 310/( 600 72 76 524 130/( 6,000 441 - 6,000 00/( 150 1 - 150 00/( 300 - - 300 00/( 4,000 - - 4,000 00/( 1,000 49 58 942 60/( 50 72 88 (38) 1760/( 25,000 - - 25,000 00/( 100 51 6 94 60/( 1,000 - - 1,000 00/( 190,000 102,328 33,986 156,014 180/( 1,400 2,885 - 1,400 00/( 100,000 46,468 26,752 73,248 270/( 5,000 2,275 30,205 (25,205) 6040/( 30,000 - - 30,000 00/( 14,000 251 - 14,000 00/( 210,970 52,742 113,713 97,258 540/( - 25 20 (20) 00/( 67,000 35,250 43,768 23,232 650/( 1,050 302 - 1,050 00/( 38,000 7,852 4,209 33,791 110/( 3,000 216 66 2,934 20/( 10,000 11,851 8,848 1,152 880/( 3,500 220 323 3,177 90/( 1,077,500 238,403 611,546 465,954 570/( 5,000 1,943 2,453 2,547 490/( 65,600 47,673 17,064 48,536 260/( 425,000 129,976 282,420 142,580 660/( 4,000 7,036 9,207 (5,207) 2300/( 500 110 36,374 (35,874) 72750/( 3,000 3,700 2,430 570 810/( - - 10,206 (10,206) 00/( 14,000 8,010 8,529 5,471 610/( 13,000 1,015 4,476 8,524 340/( 990,959 333,500 434,571 556,388 440/( 5,000 - 455 4,545 90/( 5,000 740 - 5,000 00/( 5,000 7,310 9,005 (4,005) 1800/( - - 150 (150) 00/( 1,000 - - 1,000 00/( 3,427,765 491,040 1,362,001 2,065,764 400/( 6,757,444 1,536,019 3,053,930 3,703,514 457% r Q 22 Packet Pg. 28 2.2.a Page 3 of 3 C ITY O F EDMO NDS REVENUES - GENERAL FUND 2023 Amended 5/31/2022 5/31/2023 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 CURRENT TRAFFIC INFRACTIONS 6 NON -TRAFFIC INFRACTION PENALTIES 7 OTHERINFRACTIONS'04 8 PARKING INFRACTION PENALTIES 9 PARK/INDDISZONE 10 DWI PENALTIES 11 DUI - DP ACCT 12 CRIM CNV FEE DUI 13 DUI - DP FEE 14 CRIMINAL TRAFFIC MISDEMEANOR 8/03 15 CRIMINAL CONVICTION FEE CT 16 CRIM CONV FEE CT 17 OTHER NON-T RAF MISDEMEANOR PEN 18 OTHER NON TRAFFIC MISD. 8/03 19 COURT DV PENALTY ASSESSMENT 20 CRIMINAL CONVICTION FEE CN 21 CRIM CONV FEE CN 22 PUBLIC DEFENSE RECOUPMENT 23 BANK CHARGE FOR CONY. DEFENDANT 24 COURT COST RECOUPMENT 25 BUS. LICENSE PERMIT PENALTY 26 MISC FINES AND PENALTIES MISCELLANEOUS: 27 INVESTMENT INTEREST 28 INTEREST ON COUNTY TAXES 29 INTEREST - COURT COLLECTIONS 30 LOAN INTEREST 31 SPACE/FACILITIESRENTALS 32 BRACKET ROOM RENTAL 33 LEASESLONG-TERM 34 DONATION/CONTRIBUTION 35 PARKSDONATIONS 36 BIRD FEST CONTRIBUTIONS 37 POLICE CONTRIBUTIONS FROM PRIV SOURCES 38 SALE OF JUNK/SALVAGE 39 SALES OF UNCLAIM PROPERTY 40 CONFISCATED AND FORFEITED PROPERTY 41 OTHER JUDGEMENT/SETTLEMENT 42 POLICE JUDGMENTS/RESTITUTION 43 CASHIER'S OVERAGES/SHORTAGES 44 OTHER MISC REVENUES 45 SMALL OVERPAYMENT 46 NSF FEES - PARKS & REC 47 NSF FEES - MUNICIPAL COURT 48 NSF FEES - DEVEL SERV DEPT 49 L&I STAY AT WORK PROGRAM 50 US BANK REBATE 51 INSURANCE RECOVERIES TO TAL GENERAL FUND REVENUE $ 2,000 $ 673 $ 1,086 $ 914 540/( 130,000 24,863 37,182 92,818 290/( 18,000 1,933 881 17,119 501( 10,000 1,535 1,264 8,736 130/( - - 31,873 (31,873) 00/( 1,000 - 4,586 (3,586) 4590/( 1,500 265 1,222 278 810/( 125,000 6,270 2,570 122,430 20/( 2,000 114 239 1,761 120/( 7,000 1,159 1,345 5,655 190/( 300 27 1 299 00/( 100 14 - 100 00/( 1,500 596 622 878 410/( 25,000 3,792 3,192 21,808 130/( 2,000 613 560 1,440 280/( 700 37 3 697 00/( 100 - 100 0 1000/( 12,000 1,187 108 11,892 1 % 800 12 100 700 130/( 1,000 171 48 952 501( 200 - - 200 00/( 6,000 1,671 935 5,065 160/( 4,000 1,217 2,446 1,554 610/( 1,000 74 393 607 390/( 1,000 50 - 1,000 00/( 150 - - 150 00/( 352,350 46,271 90,756 261,594 260% 321,240 98,440 42,408 278,832 130/( 10,960 2,904 30,602 (19,642) 2790/( 12,180 2,369 1,010 11,170 80/( 12,080 - - 12,080 00/( 175,000 44,333 41,622 133,378 240/( 2,100 - - 2,100 00/( 210,000 85,929 94,299 115,701 450/( 1,500 239 105 1,395 70 3,500 2,300 4,000 (500) 1140/( 1,500 370 40 1,460 30/( 5,000 249 - 5,000 00/( 300 76 619 (319) 2060/( 3,800 1,288 2,403 1,397 630/( 2,000 - - 2,000 00/( 146,000 - 49,007 96,993 34°/ 200 100 47 153 240/( - 30 10 (10) 00/( 5,000 808 20,645 (15,645) 4130/( 100 26 1 99 10/( 100 30 - 100 00/( 150 60 - 150 00/( - - 4 (4) 00/( - - 8,702 (8,702) 00/( 8,500 3,896 7,494 1,006 880/( 800,000 - - 800,000 00/( 1,721,210 243,446 303,016 1,418,194 189/( $ 51,186,745 $19,290,212 $ 21,615,550 $ 29,571,195 420/( w Q 23 Packet Pg. 29 I 2.2.a I Page 1 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent GENERAL FUND EXPENDITURES (001) 1 SALARIES AND WAGES $ 23,641,702 $ 7,171,108 $ 8,896,602 $ 14,745,100 380/ 2 OVERTIME 649,080 462,889 397,540 251,540 610/ 3 HOLIDAY BUY BACK 294,001 8,212 5,674 288,327 20/ 4 BENEFITS 8,031,104 2,681,368 3,202,380 4,828,724 400/ 5 UNIFORMS 130,851 31,471 61,050 69,801 470/ 6 PENSION AND DISABILITY PAYMENTS 165,023 34,118 37,156 127,867 230/ 7 SUPPLIES 759,025 168,396 171,461 587,564 230/ 8 SMALL EQUIPMENT 307,791 49,557 73,701 234,090 240/ 9 PROFESSIONAL SERVICES 18,312,206 6,175,612 7,383,315 10,928,891 400/ 10 COMMUNICATIONS 241,295 57,465 91,834 149,461 380/ 11 TRAVEL 74,795 18,300 38,066 36,729 510/ 12 EXCISE TAXES 16,500 12,094 11,248 5,252 680/ 13 RENTAL/LEASE 2,780,344 838,322 1,107,640 1,672,704 400/ 14INSURANCE 625,650 503,160 625,650 (0) 1000/ 15 UTILITIES 663,800 238,995 265,954 397,846 400/ 16 REPAIRS& MAINTENANCE 673,900 237,263 485,348 188,552 720/ 17 MISCELLANEOUS 667,593 248,404 296,636 370,957 440/ 18 INTERGOVERNMENTAL PAYMENTS 50,000 50,000 50,000 - 1000/ 19 INTERFUND SUBSIDIES 1,341,982 - - 1,341,982 00/ 20 BUILDINGS 800,000 45,195 284,460 515,540 360/ 21 MACHINERY/EQUIPMENT 430,000 96,343 4,264 425,736 10/ 22 CONSTRUCT IONS PROJECTS 800,565 - 7,480 793,085 10/ 23 GENERAL OBLIGATION BOND PRINCIPAL 191,620 - 191,620 00/ 24 INTEREST ON LONG-TERM EXTERNAL DEBT 131,470 - 131,470 00/ 25 OTHER INTEREST & DEBT SERVICE COSTS 500 212 - 500 00/ 61,780,797 19,128,482 23,497,459 38,283,338 38°/ LEO FF-MEDIC AL INS. RESERVE(009) 26 BENEFITS $ 206,650 $ 78,420 $ 90,242 $ 116,408 440/ 27 PENSION AND DISABILITY PAYMENTS 152,990 33,405 64,518 88,472 420/ 28 PROFESSIONAL SERVICES 7,000 13,704 - 7,000 00/ 29 MISCELLANEOUS 500 485 - 500 00/ 367,140 126,014 S 154,761 212,379 420/ RISK MANAG04ENT RESERVE FUND (011) 30 MISCELLANEOUS $ 25,000 $ - $ $ 25,000 00/ 25,000 25,000 00/ HISTORIC PRESERVATION GIFT FUND (014) 31 SUPPLIES $ 100 $ $ $ 100 00/ 32 PROFESSIONAL SERVICES 200 200 00/ 33 MISCELLANEOUS 5,600 5,600 00/ 5,900 5,900 00/ BUILDING MAINTENANCEFUND (016) 34 PROFESSIONAL SERVICES $ 121,500 $ 450 $ $ 121,500 00/ 35 REPAIR&MAINTENANCE 1,153,500 16,072 15,468 1,138,032 10/ 36 BUILDINGS - - 19,778 (19,778) 00/ 37 MACHINERY/EQUIPMENT - 552 - - 00/ 1,275,000 17,074 S 35,246 1,239,754 3°/ DRUG INFO RC EMENT FUND (104) 38 PROFESSIONAL SERVICES $ 45,000 $ - S - $ 45,000 00/ 39 REPAIR/MAINT 800 800 00/ 45,800 $ 45,800 00/ t O Q. d lY C R C LL z C O M N 0 N A t O O. d C O C IL s C O M N 0 N C d E t t� O r w Q 24 Packet Pg. 30 I 2.2.a I Page 2 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Expenditures Expenditures Remaining % Spent STREETFUND (111) 1 SALARIES AND WAGES $ 1,017,313 $ 290,997 $ 501,844 $ 515,469 494 2 OVERTIME 38,400 13,596 14,031 24,369 374 3 BENEFITS 415,385 142,682 197,776 217,609 480 4 UNIFORMS 6,000 3,912 4,404 1,596 730 5 SUPPLIES 263,000 47,993 83,737 179,263 324 6 SMALL EQUIPMENT 20,000 985 1,657 18,343 84 7 PROFESSIONAL SERVICES 23,210 9,905 4,934 18,276 210 8 COMMUNICATIONS 4,500 2,426 2,794 1,706 620 9 TRAVEL 1,000 - - 1,000 09 10 RENTAL/LEASE 304,730 120,178 126,166 178,564 414 11 INSURANCE 126,466 184,111 126,467 (1) 1000 12 UTILITIES 273,730 88,863 93,636 180,094 340 13 REPAIRS & MAINTENANCE 52,000 18,073 8,682 43,318 170 14 MISCELLANEOUS 8,000 10,891 6,310 1,690 790 15 BUILDINGS 25,000 - - 25,000 00 16 OTHERIMPROVEMENTS - 165,353 (165,353) 04 17 GENERAL OBLIGATION BOND PRINCIPAL 4,380 - 4,380 09 18 INTEREST 300 - 300 09 $ 2,583,414 $ 934,609 $ 1,337,791 $ 1,245,623 524 COMBINED STREETCONST)TMPROVE(112) 19 PROFESSIONAL SERVICES $ 3,817,980 $ 203,066 $ 487,808 $ 3,330,172 130 20 REPAIRS&MAINTENANCE 1,139,535 21,729 - 1,139,535 00 21 INTERFUND SUBSIDIES 172,650 - - 172,650 09 22 LAND 270,000 36,264 - 270,000 04 23 CONSTRUCTION PROJECTS 5,818,580 270,868 1,627,397 4,191,183 2M 24 INTERGOVERNMENTAL LOANS 54,070 72,201 54,058 12 1000 25 INTEREST 880 1,230 869 11 990 $ 11,273,695 $ 605,359 $ 2,170,132 $ 9,103,563 194 MUNICIPAL ARTS ACQUIS. FUND (117) 26 SUPPLIES $ 4,700 $ 548 $ 515 $ 4,185 110 27 SMALL EQUIPMENT 1,700 - - 1,700 09 28 PROFESSIONAL SERVICES 191,000 15,328 32,707 158,293 170 29 TRAVEL 80 - - 80 04 30 RENTAL/LEASE 3,000 - 3,000 09 31 REPAIRS & MAINTENANCE 300 - - 300 04 32 MISCELLANEOUS 6,600 1,064 1,663 4,937 250 $ 207,380 $ 16,940 $ 34,885 $ 172,495 17 HO TEL/MO TEL TAX REVENUE FUND (120) 33 PROFESSIONAL SERVICES $ 90,400 $ 19,714 $ 3,934 $ 86,466 44 34 MISCELLANEOUS 1,000 - - 1,000 0R 35 INTERFUND SUBSIDIES 4,000 - - 4,000 0° $ 95,400 $ 19,714 $ 3,934 $ 91,466 4, EMPLO YEE PARKING PERMIT FUND (12 1) 36 SUPPLIES $ 1,790 $ - $ - $ 1,790 09 37 PROFESSIONAL SERVICES 25,090 - 25,090 09 $ 26,880 $ $ - $ 26,880 09 YOUTH SCHOLARSHIP FUND (122) 38 MISCELLANEOUS $ 3,000 $ $ - $ 3,000 04 $ 3,000 $ $ - $ 3,000 04 TOURISM PROMOTIONAL FUND/ARTS (123) 39 PROFESSIONAL SERVICES $ 28,500 $ 533 $ 5,222 $ 23,278 184 $ 28,500 8 533 $ 5,222 $ 23,278 189 r Q 25 Packet Pg. 31 I 2.2.a I Page 3 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent REAL ESTATE EXC ISE TAX 2 (125) 1 SUPPLIES $ - $ 11,221 $ - $ - 09 2 PROFESSIONAL SERVICES 616,867 90,527 144,636 472,231 239 3 REPAIRS&MAINTENANCE 1,148,910 56,569 72,970 1,075,940 69 4 INTERFUND SUBSIDIES 5,684 - - 5,684 09 5 LAND 200,000 - 77,433 122,567 399 6 CONSTRUCTION PROJECTS 2,343,957 484,788 521,036 1,822,921 229 $ 4,315,418 $ 643,105 $ 816,074 $ 3,499,344 190 REAL ESTATE EXCISE TAXI (126) 7 PROFESSIONAL SERVICES 8 REPAIRS & MAINTENANCE 9 INTERFUND SUBSIDIES 10 LAND 11 CONSTRUCTION PROJECTS 12 GENERAL OBLIGATION BONDS 13 INTEREST 14 OTHER INTEREST & DEBT SERVICE COSTS GIFTS CATALOG FUND (127) 15 SALARIES AND WAGES 16 OVERTIME 17 BENEFIT S 18 SUPPLIES 19 SMALL EQUIPMENT 20 PROFESSIONAL SERVICES 21 RENTALILEASE 22 MISCELLANEOUS C EMEIERY MAINTENANC UIMPRO VEMENT (13 0) 23 SALARIES AND WAGES 24 OVERTIME 25 BENEFIT S 26 UNIFORMS 27 SUPPLIES 28 SUPPLIES PURCHASED FOR INVENTORY/RESALE 29 PROFESSIONAL SERVICES 30 COMMUNICATIONS 31 TRAVEL 32 RENTAL/LEASE 33 UTILITIES 34 REPAIRS & MAINTENANCE 35 MISCELLANEOUS PARKS TRUSTFUND (136) 36 PROFESSIONAL SERVICES CEIM KIERY MAINTENANCE TRUST FUND (137) 37 SMALL EQUIPMENT SISTER CITY COMMISSION (138) 38 SUPPLIES 39 TRAVEL 40 MISCELLANEOUS BUSINESS IMPROVEMENT DISTRICT FUND (140) 41 SUPPLIES 42 PROFESSIONAL SERVICES 43 MISCELLANEOUS EDMONDS RESCUE PLAN FUND (142) 44 PROFESSIONAL SERVICES TREE FUND (143) 45 SUPPLIES 46 PROFESSIONAL SERVICES 47 LAND $ 260,420 $ 23,581 $ 127,284 $ 133,136 499 578,340 13,266 2,729 575,611 09 147,557 - - 147,557 09 - - - - 00 554,755 97,473 - 554,755 09 155,470 - - 155,470 09 103,970 - - 103,970 09 - 380 - - 09 $ 1,800,512 $ 134,700 $ 130,013 $ 1,670,499 79 $ 196,455 $ $ 38,896 $ 157,559 209 - 2,840 (2,840) 09 80,033 17,518 62,515 229 146,000 4,334 30,113 115,887 210 500 - - 500 09 56,500 - 56,500 09 17,510 7,296 10,214 429 600 - 348 252 580 $ 497,598 $ 4,334 $ 97,011 $ 400,587 199 $ 137,541 $ 39,143 $ 58,687 $ 78,854 439 3,500 492 1,154 2,346 339 54,487 16,016 20,992 33,495 399 1,000 - - 1,000 09 7,000 410 2,771 4,229 400 20,000 9,933 9,920 10,080 509 4,200 1,150 1,438 2,762 340 1,700 716 720 980 429 500 - - 500 09 9,420 4,890 3,977 5,444 429 5,565 1,876 2,235 3,330 409 500 - - 500 09 4,000 3,868 5,336 (1,336) 1339 $ 249,413 $ 78,494 $ 107,230 $ 142,183 439 $ 43,842 $ 2,540 $ - $ 43,842 09 $ 43,842 $ 2,540 $ - $ 43,842 09 $ 50,000 $ $ - $ 50,000 09 $ 50,000 $ $ - $ 50,000 09 $ 1,500 $ $ $ 1,500 09 4,500 4,500 09 5,900 70 415 5,485 79 $ 11,900 $ 70 $ 415 $ 11,485 39 $ 4,091 $ 466 $ 1,433 $ 2,658 359 78,327 20,190 18,300 60,027 239 6,157 222 1,157 5,000 199 88,575 20,878 20,890 67,685 249 $ 1,669,000 $ 380,776 $ 673,314 $ 995,686 409 $ 1,669,000 380,776 673,314 995,686 409 $ 1,000 $ $ - $ 1,000 09 39,800 - 39,800 09 199,000 - 199,000 09 239,800 - 239,800 0° t O N C R C LL 21 s_ C O 2 M N 0 N A O t O lZ d w <0 C C M z C O 2 M N 0 N C N 1= t c� r w Q 26 Packet Pg. 32 I 2.2.a I Page 4 of 6 C ITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent 2012 LTGO DEBT SERVIC FUND (231) 1 GENERAL OBLIGATION BOND $ 235,000 $ $ - $ 235,000 09 2 INTEREST 74,800 - 74,800 09 $ 309,800 $ $ - $ 309,800 09 PARKS CONSTRUCTION FUND (332) 3 INTERFUND SUBSIDIES 4 PROFESSIONAL SERVICES 5 CONSTRUCTION PROJECTS 6 GENERAL OBLIGATION BONDS 7 INTEREST WATER FUND (421) 8 SALARIES AND WAGES 9 OVERTIME 10 BENEFIT S 11 UNIFORMS 12 SUPPLIES 13 WATER PURCHASED FOR RESALE 14 SUPPLIES PURCHASED FOR INVENTORY/RESALE 15 SMALL EQUIPMENT 16 PROFESSIONAL SERVICES 17 COMMUNICATIONS 18 TRAVEL 19 EXCISE TAXES 20 RENTAL/LEASE 21INSURANCE 22 UTILITIES 23 REPAIRS & MAINTENANCE 24 MISCELLANEOUS 25 INTERFUND SUBSIDIES 26 BUILDINGS 27 MACHINERY/EQUIPMENT 28 CONSTRUCTION PROJECTS 29 GENERAL OBLIGATION BONDS 30 REVENUE BONDS 31 INTERGOVERNMENTAL LOANS 32 INTEREST 33 OTHER INTEREST & DEBT SERVICE COSTS STORM FUND (422) 34 SALARIES AND WAGES 35 OVERTIME 36 BENEFIT S 37 UNIFORMS 38 SUPPLIES 39 SMALL EQUIPMENT 40 PROFESSIONAL SERVICES 41 COMMUNICATIONS 42 TRAVEL 43 EXCISE TAXES 44 RENTAL/LEASE 45INSURANCE 46 UTILITES 47 REPAIR & MAINTENANCE 48 MISCELLANEOUS 49 INTERFUND SUBSIDIES 50 LAND 51 BUILDINGS 52 MACHINERY/EQUIPMENT 53 CONSTRUCTION PROJECTS 54 GENERAL OBLIGATION BONDS 55 REVENUE BONDS 56 INTERGOVERNMENTAL LOANS 57 INTEREST 58 OTHER INTEREST & DEBT SERVICE COSTS $ - $ 62,656 $ - $ - 09 1,352,620 170,170 147,950 1,204,670 110 805,377 2,090,315 826,809 (21,432) 1039 50,000 - - 50,000 09 47,650 - - 47,650 09 $ 2,255,647 $ 2,323,141 $ 974,759 $ 1,280,888 439 $ 1,108,268 $ 318,564 $ 442,298 $ 665,970 409 p 24,000 6,449 7,207 16,793 300 422,439 133,792 161,218 261,221 389 4,000 2,189 2,457 1,543 619 150,000 56,039 62,524 87,476 429 'v 2,398,000 535,745 549,883 1,848,117 239 180,000 72,908 55,892 124,108 319 C 13,500 2,527 3,009 10,491 220 LE 2,256,928 279,744 622,022 1,634,906 289 >+ 35,000 13,234 14,448 20,552 419 200 - 462 (262) 2319 C 1,696,934 528,176 549,068 1,147,866 329 187,952 62,765 77,194 110,758 419 M 225,380 122,359 225,379 1 1009 c 35,000 13,870 15,703 19,297 459 cV 71,130 11,863 19,705 51,425 289 123,600 84,834 106,483 17,117 860 646,370 - - 646,370 09 12,500 - 12,500 09 10,000 - - 10,000 09 Q 1,670,000 87,212 47,283 1,622,717 39 4) 2,940 - - 2,940 09 _ 333,830 - - 333,830 09 25,840 25,839 25,839 1 1009 = 185,300 388 258 185,042 09 - 378 - - 09 $ 11,819,111 $ 2,358,873 $ 2,988,333 $ 8,830,778 259 s $ 991,952 $ 323,817 $ 509,624 $ 482,328 519 C 26,000 9,276 4,608 21,392 180 0 376,317 133,632 175,797 200,520 47' M 6,500 5,543 4,801 1,699 740 N 46,000 25,327 6,603 39,397 149 N 4,000 985 1,713 2,287 439 >, 3,124,919 334,006 548,725 2,576,194 189 3,200 2,087 2,828 372 880 , 4,300 - - 4,300 09 499,658 293,490 303,484 196,174 619 293,210 109,858 120,424 172,786 419 31,679 82,335 31,680 (1) 1009 10,500 7,120 7,469 3,031 719 w 189,130 11,302 11,327 177,803 69 Q 232,300 88,269 95,941 136,359 419 283,237 - - 283,237 09 680,000 - 680,000 09 25,000 - 25,000 09 - - 12,536 (12,536) 09 1,031,645 281,617 174,801 856,844 179 107,290 - - 107,290 09 160,870 - - 160,870 09 61,600 32,063 32,063 29,538 520 103,070 481 321 102,749 09 - 165 - - 09 $ 8,292,377 $ 1,741,370 $ 2,044,743 $ 6,247,634 259 27 Packet Pg. 33 I 2.2.a I Page 5 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent SEWER FUND (423) 1 SALARIES AND WAGES $ 2,836,518 $ 752,725 $ 1,434,343 $ 1,402,175 510 2 OVERTIME 130,000 59,197 67,599 62,401 520 3 BENEFITS 940,857 300,600 479,087 461,770 519 4 UNIFORMS 11,500 7,197 7,265 4,235 630 5 SUPPLIES 453,000 131,870 204,851 248,149 459 6 FUEL CONSUMED 20,000 - - 20,000 09 7 SUPPLIES PURCHASED FOR INV OR RESALE 5,000 - - 5,000 W 8 SMALL EQUIPMENT 83,900 95,443 3,561 80,339 49 9 PROFESSIONAL SERVICES 2,587,949 923,642 985,916 1,602,033 389 10 COMMUNICATIONS 48,000 19,269 20,836 27,164 439 11 TRAVEL 5,000 - 144 4,856 39 12 EXCISE TAXES 1,026,360 412,890 518,861 507,499 510 13 RENTAL/LEASE 312,006 134,401 129,710 182,296 429 14 INSURANCE 360,663 203,936 362,302 (1,639) 1009 15 UTILITIES 1,582,060 1,068,598 1,403,780 178,280 899 16 REPAIR& MAINTENANCE 728,630 392,452 97,432 631,198 139 17 MISCELLANEOUS 138,350 98,103 155,322 (16,972) 1120 18 INTERFUND SUBSIDIES 1,588,089 - 14,515 1,573,574 19 19 BUILDINGS 12,500 - - 12,500 09 20 MACHINERY/EQUIPMENT - 68,126 - - 09 21 CONSTRUCTION PROJECTS 2,976,163 1,564,772 - 2,976,163 09 22 GENERAL OBLIGATION BONDS 129,820 - - 129,820 09 23 REVENUE BONDS 55,310 - - 55,310 09 24 INTERGOVERNMENTAL LOANS 104,000 159,017 88,050 15,950 859 25 INTEREST 353,270 4,589 3,667 349,603 19 26 OTHER INT EREST & DEBT SERVICE COSTS - 2,959 1,948 (1,948) 09 $ 16,488,945 $ 6,399,786 $ 5,979,189 $ 10,509,756 360 BOND RESERVE FUND (424) 27 REVENUE BONDS $ 840,010 $ - $ - $ 840,010 09 28INTEREST 1,149,810 - 1,149,810 09 $ 1,989,820 $ $ - S 1,989,820 09 r Q 28 Packet Pg. 34 I 2.2.a I Page 6 of 6 C ITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent EQ UIPMENT RENTAL FUND (511) 1 SALARIES AND WAGES $ 331,652 $ 124,683 $ 183,297 $ 148,355 554 2 OVERTIME 2,000 222 - 2,000 0° 3 BENEFITS 115,897 48,014 57,128 58,769 490 4 UNIFORMS 1,500 785 1,113 387 740 5 SUPPLIES 149,120 55,588 39,920 109,200 270 6 FUEL CONSUMED 1,000 - - 1,000 09 7 SUPPLIES PURCHASED FOR INVENTORY/RESALE 458,880 173,973 108,333 350,547 249 8 SMALL EQUIPMENT 58,000 2,072 939 57,061 29 9 PROFESSIONAL SERVICES 46,750 597 664 46,086 14 10 COMMUNICATIONS 3,000 864 1,263 1,737 424 11 TRAVEL 1,000 - - 1,000 09 12 RENTAL/LEASE 17,470 4,311 6,917 10,553 400 13 INSURANCE 50,178 51,903 52,373 (2,195) 1040 14 UTILITIES 14,000 9,675 11,625 2,375 830 15 REPAIRS&MAINTENANCE 60,000 14,102 16,223 43,777 270 16 MISCELLANEOUS 12,000 1,733 4,885 7,115 419 17 MACHINERY/EQUIPMENT 3,109,411 25,960 558,206 2,551,205 180 $ 4,431,858 $ 514,481 $ 1,042,885 $ 3,388,973 249 TEC HNO LO GY RENTAL FUND (512) 18 SALARIES AND WAGES $ 657,771 $ 111,086 $ 229,024 $ 428,747 350 19 OVERTIME 2,000 - - 2,000 09 20 BENEFITS 191,954 43,470 84,257 107,697 440 21 SUPPLIES 5,000 4,036 3,851 1,149 779 22 SMALL EQUIPMENT 181,800 21,731 58,265 123,535 329 23 PROFESSIONAL SERVICES 61,860 6,359 25,532 36,328 419 24 COMMUNICATIONS 58,770 20,362 24,519 34,251 429 25 TRAVEL 1,500 - - 1,500 09 26 RENTAL/LEASE 4,640 1,858 684 3,957 150 27 REPAIRS & MAINTENANCE 476,532 393,720 439,535 36,997 920 28 MISCELLANEOUS 55,600 424 9,802 45,798 180 29 MACHINERY/EQUIPMENT 56,000 - 13,060 42,940 239 $ 1,753,427 $ 603,046 $ 888,529 $ 864,898 519 TOTAL EXPENDITURE ALL FUNDS $ 134,024,949 $ 36,054,321 $ 43,002,814 $ 91,022,135 325 O N is C R C LL s C O M N 0 N A O O O. d w C O C iL z r C O M N O N fC C N 1= t t� r r Q 29 Packet Pg. 35 2.2.a Page 1 of 1 M I VC13aD1311C19AIM EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN SUMMARY Title CITY COUNCIL OFFICE OF MAYOR HUMAN RESOURCES MUNICIPAL COURT ADMINISTRATIVE SERVICES CITY ATTORNEY NON -DEPARTMENTAL POLICE SERVICES SATELLITE OFFICE COMMUNITY SERVICES/ECONOMIC DEV. PLANNING & DEVELOPMENT HUMAN SERVICES PROGRAM PARKS & RECREATION PUBLIC WORKS FACILITIES MAINTENANCE Title 2023 Amended 5/31/2022 5/31/2023 Amount Budget Expenditures Expenditures Remaining %Spent $ 486,256 $ 129,439 $ 190,396 $ 305,860 37% 504,873 148,671 164,114 340,759 33% 1,296,947 334,902 367,942 929,005 28% 2,240,163 482,322 611,186 1,628,977 27% 2,497,266 901,287 1,154,564 1,342,702 46% 1,161,780 388,315 349,828 811,952 30% C 15,627,335 5,987,679 7,245,913 8,381,422 46% N 14,993,027 5,133,192 5,521,298 9,471,729 37% 230,681 37,314 49,688 180,993 22% C R 1,309,051 216,588 470,437 838,614 36% LL 5,236,088 1,419,912 1,622,646 3,613,442 31% 324,650 39,490 102,311 222,339 32% C 6,573,617 1,709,318 2,229,794 4,343,823 34% 2 M 4,267,653 1,258,052 1,623,373 2,644,280 38% N N 5,031,410 942,003 1,803,967 3,227,443 36% $ 61,780,797 $ 19,128,482 $ 23,497,459 $ 38,283,338 38% O 0. O CITY OF E DMO NDS EXPENDITURES - UTILITY- BY FUND IN SUMMARY C 2023 Amended 5/31/2022 5/31/2023 Amount IL Budget Expenditures Expenditures Remaining %Spent s WATER UTILITY FUND $ 11,819,111 $ 2,358,873 $ 2,988,333 $ 8,830,778 25% 0 STORM UTILITY FUND 8,292,377 1,741,370 2,044,743 6,247,634 25o/p M N SEWER/WWTP UTILITY FUND 16,488,945 6,399,786 5,979,189 10,509,756 0 36% N BOND RESERVE FUND 1,989,820 - - 1,989,820 0% c' cc $ 38,590,253 $ 10,500,030 $ 11,012,265 $ 27,577,988 29% c d E t c� O Q 30 Packet Pg. 36 Page 1 of 2 C ITY O F EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL Title 2023 Amended Budget 5/31/2022 Expenditures 5/31/2023 Expenditures Amount Remaining %Spent CITY COUNCIL SALARIES AND WAGES $ 219,276 $ 73,008 $ 92,364 $ 126,912 42% BENEFITS 103,845 38,986 43,227 60,618 42% SUPPLIES 11,000 1,006 968 10,032 9% SERVICES 152,135 16,439 43,838 108,297 29% $ 486,256 $ 129,439 $ 180,396 $ 305,860 37% O FFIC E O F MAYO R SALARIES AND WAGES $ 282,988 $ 103,440 $ 106,975 $ 176,013 38% BENEFITS 90,087 35,811 37,371 52,716 41% SUPPLIES 1,500 1,555 1,042 458 69% SERVICES 130,298 7,865 18,726 111,572 14% .-. C $ 504,873 $ 148,671 $ 164,114 $ 340,759 33% Q HUMAN RESOURCES N SALARIES AND WAGES $ 782,258 $ 194,660 $ 211,950 $ 570,308 27% BENEFITS 243,609 67,416 80,810 162,799 33% 'V SUPPLIES 13,600 701 549 13,051 4% SERVICES 257,480 72,125 74,632 182,848 29% C $ 1,296,947 $ 334,902 $ 367,942 $ 929,005 28% LL MUNICIPAL C O URT 2' SALARIES AND WAGES $ 1,594,770 $ 315,526 $ 402,085 $ 1,192,685 25% C BENEFITS 434,072 93,801 128,311 305,761 30% O SUPPLIES 11,600 4,714 7,904 3,696 68% 2 SERVICES 199,721 68,281 72,885 126,836 36% M $ 2,240,163 $ 482,322 $ 611,186 $ 1,628,977 27% N ADM[NIS TRATIVE S ERVIC ES SALARIES AND WAGES $ 1,601,894 $ 557,511 $ 735,490 $ 866,404 46% cc BENEFITS 465,703 180,965 211,000 254,703 4570 SUPPLIES 13,000 5,268 3,434 9,566 26% SERVICES 416,669 157,541 204,641 212,028 49% Q. $ 2,497,266 $ 901,287 $ 1,154,564 $ 1,342,702 46% CITY ATTORNEY SERVICES $ 1,161,780 $ 388,315 $ 349,828 $ 811,952 $ 1,161,780 $ 388,315 $ 349,828 $ 811,952 30% NON -DEPARTMENTAL E SALARIES AND WAGES $ 101,750 $ - $ - $ 101,750 0% LL BENEFITS 239,583 53,452 58,430 181,153 24% s SUPPLIES 5,000 - - 5,000 0% SERVICES 13,565,430 5,884,015 7,137,483 6,427,947 53% O INTERFUND SUBSIDIES 1,391,982 50,000 50,000 1,341,982 4% z DEBT SERVICE - PRINCIPAL 191,620 - - 191,620 0% CO) DEBT SERVICE - INTEREST 131,970 212 - 131,970 0% N $ 15,627,335 $ 5,987,679 $ 7,245,913 $ 8,381,422 46% PO LIC E SERVIC ES cc 2 SALARIES AND WAGES $ 9,566,760 $ 3,281,239 $ 3,477,139 $ 6,089,621 36% BENEFITS 3,305,628 1,160,454 1,250,012 2,055,616 38% SUPPLIES 342,941 81,278 62,377 280,564 18% E SERVICES 1,777,698 513,878 731,770 1,045,928 41% U MACHINERY/EQUIPMENT - 96,343 - - 0% r $ 14,993,027 $ 5,133,192 $ 5,521,298 $ 9,471,729 37% Q S ATELLITE O FFIC E SALARIES AND WAGES $ 38,537 $ - $ 18,200 $ 20,337 47% BENEFITS 7,298 - 8,711 (1,413) 119% SUPPLIES 17,000 11,057 - 17,000 0% SERVICES 167,846 26,257 22,777 145,069 14% $ 230,681 $ 37,314 $ 49,688 $ 180,993 22% 31 Packet Pg. 37 1 I 2.2.a I Page 2 of 2 CITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL 2023 Amended 5/31/2022 5/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent COMMUNITY S ERVIC ES /EC O N DEV. SALARIES AND WAGES $ 613,413 $ 82,411 $ 266,780 $ 346,633 43% BENEFITS 165,783 26,776 68,847 96,936 42% SUPPLIES 4,075 269 442 3,633 11 % SERVICES 525,780 107,133 134,368 391,412 26% $ 1,309,051 $ 216,588 $ 470,437 $ 838,614 36% PLANNING & DEVELOPMENT SALARIES AND WAGES $ 2,392,581 $ 858,176 $ 982,774 $ 1,409,807 41% BENEFITS 779,673 295,708 358,284 421,389 46% SUPPLIES 23,400 2,993 4,657 18,743 20% SERVICES 2,040,434 263,035 276,931 1,763,503 14% $ 5,236,088 $ 1,419,912 $ 1,622,646 $ 3,613,442 31% HUMAN SERVICES PROGRAM SALARIES AND WAGES $ 101,849 $ 25,307 $ 46,450 $ 55,399 46% BENEFITS 29,301 5,024 15,539 13,762 53% SUPPLIES 15,000 442 661 14,339 4% SERVICES 178,500 8,717 39,662 138,838 22% 324,650 39,490 102,311 222,339 32% PARKS & REC REATIO N SALARIES AND WAGES $ 3,318,976 $ 968,866 $ 1,263,918 $ 2,055,058 38% BENEFITS 1,060,280 334,040 433,275 627,005 41% SUPPLIES 468,900 72,160 108,201 360,699 23% SERVICES 1,635,461 334,252 424,400 1,211,061 26% MACHINERY/EQUIPMENT 90,000 - - 90,000 0% $ 6,573,617 $ 1,709,318 $ 2,229,794 $ 4,343,823 34% PUBLIC WORKS ADMINISTRATION SALARIES AND WAGES $ 409,900 $ 54,659 $ 173,716 $ 236,184 42% BENEFITS 150,075 26,359 53,428 96,647 36% SUPPLIES 9,600 1,733 6,251 3,349 65% SERVICES 92,439 34,487 36,010 56,430 39% $ 662,014 $ 117,239 $ 269,404 $ 392,610 41% FACILITIES MAINTENANCE SALARIES AND WAGES 1,163,868 358,167 598,583 565,285 51% BENEFITS 439,117 143,049 219,147 219,970 50% SUPPLIES 128,000 34,777 45,755.48 82,245 36% SERVICES 1,359,860 360,816 644,277 715,583 47% MACHINERY/EQUIPMENT 1,940,565 45,195 296,205 1,644,360 15% $ 5,031,410 $ 942,003 $ 1,803,967 $ 3,227,443 36% ENGINEERING SALARIES AND WAGES $ 2,395,963 $ 769,240 $ 923,391 $ 1,472,572 39% BENEFITS 812,924 285,116 334,194 478,730 41% SUPPLIES 2,200 - 2,921 (721) 133% SERVICES 394,552 86,457 93,463 301,089 24% $ 3,605,639 $ 1,140,813 $ 1,353,969 $ 2,251,670 38% TOTAL GENERAL FUND EXPENDITURES $ 61,780,797 $ 19,128,482 $ 23,497,459 $ 38,283,338 38% r Q 32 Packet Pg. 38 2.2.a GENERAL FUND OVERVIEW BALANCES CHANGE IN FUND BALANCES GENERAL FUND ---- ACTUAL ---- ---- ACTUAL ---- & SUBFUNDS 5/31 /2023 5/31 /2023 Q1 YTD Fund Balance Cash Balance 001-General Fund $ 10,021,042 $ 7,436,545 $ (6,642,630) $ (1,881,910 009-Leoff-Medical Ins. Reserve 62,103 78,055 (102,272) (154,761. 011-Risk Management Reserve Fund 25,000 25,000 - - o 012-Contingency Reserve Fund 1,782,150 1,782,150 - - 014-Historic Preservation Gift Fund 11,701 11,701 - - 016-Building Maintenance 4,303,695 4,446,971 (77,116) 7,092 017 - Marsh Restoration & Preservation 849,766 849,766 - - c 018 - Edmonds Homelessness Response Fd 200,000 200,000 - - Total General Fund & Subfunds $ 17,255,458 $ 14,830,188 $ (6,822,019) $ (2,029,578 r c 0 *$9,361,208 of the fund balance in Fund 001 added to the $1,782,150 balance in Fund 012, represent the required M No 20% operating reserve. ', ca There are no interfund loans outstanding at this time. 1` 0 Q. m GOVERNMENTAL FUNDS OVERVIEW U_ BALANCES CHANGE IN FUND BALANCES 0 GOVERNMENTAL ---- ACTUAL ---- ---- ACTUAL ---- N FUNDS 5/31 /2023 5/31 /2023 Q1 YTD 0 N Fund Balance Cash Balance 0 General Fund & Subfunds $ 17,255,458 $ 14,830,188 $ (6,822,019) $ (2,029,578 a� Special Revenue 16,938,028 23,429,710 (592,673) 587,194 t Capital Projects - Fund 332 (244,156) (180,110) (410,079) (451,838 U Q Total Governmental Funds $ 33,949,329 $ 38,079,789 $ (7,824,770) $ (1,894,223 *Please note that these revenues and expenses occur within annual cycles. This Interim Report is not adjusted for accruals or those annual cycles. 33 Packet Pg. 39 2.2.a SPECIAL REVENUE FUNDS OVERVIEW BALANCES CHANGE IN FUND BALANCES GOVERNMENTAL ---- ACTUAL ---- ---- ACTUAL ---- SPECIAL REVENUE 5/31/2023 5/31/2023 Q1 YTD Fund Balance Cash Balance 104 - Drug Enforcement Fund $ 68,472 $ 71,611 $ 59 $ 902 111 - Street Fund (381,644) (320,748) (636,911) (790,328 112 - Combined Street Const/Im prove 3,647,846 1,348,388 409,512 1,208,341 117 - Municipal Arts Acquis. Fund 614,692 644,895 3,596 (20,196 O a 120 - Hotel/Motel Tax Revenue Fund 129,121 118,595 22,301 34,257 41 121 - Employee Parking Permit Fund 87,687 91,167 10,367 12,655 122 - Youth Scholarship Fund 15,299 16,005 13 91 123 -Tourism Promotional Fund/Arts 123,170 123,144 6,951 7,999 f° c 125 -Real Estate Tax 2 3,021,918 3,276,687 23,403 (270,639; ii 126 - Real Estate Excise Tax 1 * 4,447,128 4,614,829 197,574 421,607 127 - Gifts Catalog Fund 3,020,282 3,162,966 6,718 (43,511 130 - Cemetery Maintenance/Improvement 236,801 249,871 (22,537) (31,369 0 136 - Parks Trust Fund 153,942 161,439 (7,497) (7,497 N 137 - Cemetery Maintenance Trust Fund 1,118,205 1,169,378 6,606 14,905 c N 138 - Sister City Commission 19,597 20,519 (202) (298 140 -Business Improvement Disrict 71,931 71,931 27,913 32,147 141 -Affordable and Supportive Housing Fd 255,878 248,240 21,312 21,312 V_ 142 - Edmonds Rescue Plan Fund 60,048 8,122,645 (662,049) (4,540; 0 143 - Tree Fund 227,654 238,150 198 1,355 Total Special Revenue $ 16,938,028 $ 23,429,710 1 $ (592,673) $ 587,194 *$200,000 of the fund balance in Fund 126 has been reserved for Marsh Restoration Funding, as well as $1,000,000 U for the purchase of Open Space. ii ENTERPRISE FUNDS OVERVIEW '' O 2 CO) N O N BALANCES CHANGE IN FUND BALANCES ---- ACTUAL ---- ---- ACTUAL ---- }; ENTERPRISE FUNDS 5/31/2023 5/31/2023 Q1 YTD c a) Fund Balance Cash Balance t U 421 -Water Utility Fund $ 33,108,002 $ 10,091,225 $ 689,909 $ 1,219,378 r Q 422 -Storm Utility Fund* 19,336,311 6,303,241 1,151,439 1,264,578 423 - Sewer/WWTP Utility Fund 65,547,089 14,951,941 1,500,483 2,547,754 424 - Bond Reserve Fund 850,655 850,655 3,093 6,694 411 -Combined Utility Operation 57,265 105,235 37,625 57,265 Total Enterprise Funds $ 118,899,321 $ 32,302,296 $ 3,382,549 $ 5,095,670 *$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. 34 Packet Pg. 40 2.2.a SUMMARY OVERVIEW BALANCES CHANGE IN FUND BALANCES ---- ACTUAL ---- ---- ACTUAL ---- CITY-WIDE 5/31 /2023 5/31 /2023 Q1 YTD Fund Balance Cash Balance Governmental Funds $ 33,949,329 $ 38,079,789 $ (7,824,770) $ (1,894,223 Enterprise Funds 118,899,321 32,302,296 3,382,549 5,095,670 Internal Services Fund 10,180,210 5,800,034 (599,997) (178,094 0 Total City-wide Total $ 163,028,861 $ 76,182,119 $ (5,042,219) $ 3,023,354 c c� c ii INTERNAL SERVICE FUNDS OVERVIEW O a M N O N BALANCES CHANGE IN FUND BALANCES ---- ACTUAL ---- ---- ACTUAL ---- o Q- INTERNAL SERVICE FUNDS 5/31 /2023 5/31 /2023 Q1 YTD W Fund Balance Cash Balance Fa U c 511 - Equipment Rental Fund $ 9,443,581 $ 5,364,916 $ (269,014) $ 47,780 ii 512 -Technology Rental Fund 736,629 435,118 (330,983) (225,874 21 t Total Internal Service Funds $ 10,180,210 $ 5,800,034 $ (599,997) $ (178,094 c 0 Z CO) N O N f� C N E t V fC a+ Q *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. 41 2.3 City Council Agenda Item Meeting Date: 07/20/2023 Surplus Assets Staff Lead: Dave Turley Department: Administrative Services Preparer: Dave Turley Background/History The city periodically disposes of surplus assets as part of its normal course of business. Council notification is required; attached is a list of assets that were surplused in June. Staff Recommendation Staff recommends that this be placed on "Received for Filing" at the next Council meeting. Narrative Notification only. Attachments: Surplus_Parks_Murphy's Auction small equipment Packet Pg. 42 Consignor Settlement v9_ 2.3.a James G. Murphy Co. kLl i-A PO sox 1127 hiarywille, WA 98270 Toll Free - 1.800.426.3008 murphyauctionixom Consignor: 9121 Jesse Curran City Of Edmonds 700 Main Street Edmonds, WA 98020 Phone:425-789-8933 Auction: MARYSVILLE TOOLS & EQUIPMENT - ONLINE AUCTION Lot# Lead Date Transaction Description CO #: 14754 Date: 6/29/2023 Page: 1 M� PT Amount a L 1135 KUBOTA RC60-72H 6/16/2023 Invoice Sale Price 335.0( 5' PTO DRIVEN MOWER DECK ATTACHMENT - _ - 1154 ------------------------------------------------ HOWARD ROTAVATOR HA 6/16/2023 Invoice Sale Price - --- - 770. 0( E 4' 3 PT PTO DRIVEN ROTARY TILLER Q- ATTACHMENT ______- -_ a --- - 1215 ------ SEATTLE PUMP & EQUIPMENT CO 6/16/2023 _. _ Invoice Sale Price 220.0( PORTABLE PRESSURE WASHER W113 HP E HONDA GX390 GAS ENGINE (NO HOSE OR = WAND)-------------------------------------------------------------------------------------- -----------1217 LANDA WATER JET 6/19/2023 Invoice Sale Price 260.0t Q WALK BEHIND PRESSURE WASHER w SURFACE CLEANER �' ------------------------------- 1218 LITTLE WONDER 9008PI/C 6/16/2023 Invoice Sale Price 976.01 3 WALK BEHIND BLOWER Wl8 HP BRIGGS & I STRATTON GAS ENGINE - ------ -- ----- ------ --- L 1219 - - MULTIQUIP MOD206N - - 6/16/2023 ----- ----- Invoice Sale Price 80.0' a PORTABLE 2" DIAPHRAGM PUMP W/HONDA 3 GX120 GAS ENGINE _ _ _ _ a 1562 GOODYEAR SOFTRAC 6/16/2023 Invoice Sale Price 50.0 Cn 31 X13.5-15 MOUNTED EQUIPMENT TIRE _ _ _ _ _ _ . _ _ _ _ _ 1655 73"W IRON PARK BENCH 6/16/2023 _ Invoice Sale Price _ _ _ _ _ _ _ _ _ _ _ _ 85_ 0.0 _ _ _ � _ 1656 73"W IRON PARK BENCH 6/16/2023 Invoice Sale Price --------877.1 ---------------------------- 1657 7311W IRON PARK BENCH 611612023 Invoice Sale Price -51 .- ------ 1658 73"W IRON PARK BENCH 6/16/2023 Invoice Sale Price 905.0 1659 73"W IRON PARK BENCH 6/20/2023 Invoice Sale Price 810.0 _ _ _ 1660 _ _ _ 73"W IRON PARK_ BEN_ CH _ 6/20/2023 Invoice Sale Price - - -- - - - - - - - - - -- - _ - - - - - - - _710 i0 1691 BILLY GOAT 6/16/2023 _ Invoice Sale Price 275.0 WALK -BEHIND VACUUM W/BRIGGS & STRATTON 6 HP GAS ENGINE ----.---_- _ 1698 SMITHCO 3325 6/16/2023 Invoice Sale Price 20.0 TOW BEHIND SPRAYER W/BRIGGS & STRATTON3HPGASENGINE -___---____--___- ---_----- -------------------------------- 1750 ------------------ LOT, (2) HOFFMAN 1 X 3' X 5 ELECTRICAL 6/19/2023 Invoice Sale Price 80. C ENCLOSURE CABINETS _ _ _ - - _ _ - .. _ _ _ - 2026 W ILTON 3410 6I16I2023 Invoice Sale Price 535.00 7" X 12" HORIZONTAWERTICAL BANDSAW, Packet Pg. 43 Consignor Settlement V9. 2.3.a James G. Murphy CO. PO BOX 1127 Marys--ille, WA 98270 Toll Free - I S00.426.3008 murphyauction.coin Lot# Lead SERIAL NUMBER: 05059379 Date Transaction Description CO #: 14754 Date: 6/29/2023 Page: 2 Amount ----------- - - - ------ --- I-------------. ------------------ - - - - -- 2132 PORTER CABLE 6/16/2023 Invoice Sale Price 80.00 6-GAL 150 PSI AIR COMPRESSOR, 120V 2357 KOMATSU REDMAX CHTZ2400 6/16/2023 Invoice Sale Price 60.0 GAS POWERED HEDGE TRIMMER y 2358 KOMATSU REDMAX CHTZ2300 6/16/2023 Invoice Sale Price 40.00 GAS POWERED HEDGE TRIMMER Q. 2359 _ _ _ _ MANTIS - _ - _ _ _ _ _ _ _ _ _ 6/16/2023 _ _ _ _ _ _ _ _ _ _ __ _ _ Invoice Sale Price _ _ _ _ _ _ _ _ _ - - _ _ _ _ _ _ _ _ _ _ _ _ - . - . L 90.0C GAS POWERED TILLER ------ 2360 ------------------------ MANTIS 6/16/2023 Invoice Sale Price --------------- 90.0( m GAS POWERED TILLER c_. -------------------- ---------- 2379 ------------------------------------------------ LOT, ASSORTED CONTRACTORS TOOLS ON 6/16/2023 Invoice Sale Price -7 40.0C a THIS PALLET 2383 REDMAX EBZ7100 6/16/2023 Invoice Sale Price 135.0( GAS POWERED BACKPACK BLOWER U) 2384 ------------ REDMAX EBZ7100 ----- 6/16/2023 Invoice Sale Price ----------- c 135.0( GAS POWERED BACKPACK BLOWER -- ----- 2385 REDMAX EBZ7100 ----------------- 6/16/2023 Invoice Sale Price ----- - --_ 90.0( GAS POWERED BACKPACK BLOWER - - = ----------- 2386 -------------------------------- ECHO 6/16/2023 Invoice Sale Price - ----- - --- - CL 40.0( GAS POWERED EDGER/TRIMMER ---------- ECHO 6/16/2023 Invoice Sale Price 50.0( GAS POWERED ST_ R_ I_N_G TRIMMER 2388 ECHO 6/16/2023 Invoice Sale Price GAS POWERED STRING TRIMMER 2389 ------------ ECHO 6/16/2023 Invoice Sale Price GAS POWERED STRING TRIMMER ------------ 2390 ----------------------------------------- REDMAX CZ25N 6/16/2023 Invoice Sale Price GAS POWERED STRING TRIMMER 2461 LOT, ASSORTED CONTRACTORS TOOLS ON 6/16/2023 Invoice Sale Price THIS PALLET ----------------- 50.0( ----- 20.0( -- - - - - ---- - --- - - ------------------ Total Quantity: Total Invoice Sale Price: Total Commission: Total Due to Consignor: Total Payments: 32.0 9,403.0 ( 1,880.60 7,522.4 0.0 Balance: $7, 522.4 Positive Balance, Monies Owed to Consign( No inventory remains for this consignment ord( Packet Pg. 44 2.4 City Council Agenda Item Meeting Date: 07/20/2023 Fund Balance Reserve Policy Discussion Staff Lead: City Council Department: City Council Preparer: Beckie Peterson Background/History Council adopted the Fund Balance Reserve Policy in July 2019. Recommendation Review and discuss the Fund Balance Reserve Policy. Narrative The Finance committee requests to review and discuss the Fund Balance Reserve Policy. Attachments: Fund_Balance_Reserve_Policy_July_2019 Packet Pg. 45 2.4.a RESOLUTION NO. 1433 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, ADOPTING THE FUND BALANCE / RESERVE POLICY AS ATTACHED HERTO. WHEREAS, the City Council heard a detailed introduction to the City's Fund Balance / Reserve Policy at the May 7, 2019 council meeting; and WHEREAS, the May 7, 2019 introduction focused on amending the Fund Balance / Reserve Policy to incorporate the Governmental Accounting Standards Board Pronouncement No. 54 Fund Balance Reporting and Governmental Fund Type Definitions, and WHEREAS, the May 7, 2019 introduction focused on amending the Fund Balance / Reserve Policy for the City Contingency Reserve Fund to incorporate Washington State Revised Code of Washington Chapter 35A.33.145, setting statutory limitations at $0.375 per $1,000 of assessed property valuation; and WHEREAS, the May 7, 2019 introduction focused on amending the Fund Balance / Reserve Policy target levels for the City; now therefore, THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, HEREBY RESOLVES AS FOLLOWS: Section 1. ADOPT THE CITY OF EDMONDS FUND BALANCE / RESERVE POLICY. The city council hereby adopts the following attached document: 1. City of Edmonds Fund Balance / Reserve Policy to read as set forth in Attachment A hereto, which is attached hereto and incorporated herein by this reference as if set forth in full. RESOLVED this 2nd day of July, 2019. CITY OF EDMONDS t MA OR, DA E EARLIN ATTEST: C CLERK, SCOT'1' SEY Packet Pg. 46 2.4.a FILED WITH THE CITY CLERK: June 28, 2019 PASSED BY THE CITY COUNCIL: July 2, 2019 RESOLUTION NO. 1433 Packet Pg. 47 2.4.a City of Edmonds go Fund Balance Reserve Policy July 2019 a� E M U a a Packet Pg. 48 2.4.a Table of Contents DRAFT - ------------------------------.................--................... Error! Bookmark not defined. ARTICLEI INTRODUCTION..................................................................................................................... 5 ARTICLE II CRITERIA FOR ESTABLISHING APPROPRIATE FUND BALANCE RESERVE LEVELS......................................................................................................................................................... 6 Section1. Volatility ................................ ............................................... ....................... I............................ 6 0 .2 Section2. Operating Fund Size.................................................................................................................6 U Section 3. Purpose of Fund Balance Reserves N Section4. Bond Ratings............................................................................................................................. G 2 0 ARTICLE III COMMITTED GENERAL FUND BALANCE RESERVES POLICY.................................6 Section 1. Establishment and Purpose of Operating General Fund Operating Reserve ............................ b N ARTICLE IV CONTINGENT RESERVE FUND BALANCE POLICY.....................................................7 a� ARTICLE V ANNUAL FUND BALANCE TYPES - STATUS REPORT ..................... ARTICLE VI FIVE-YEAR RESERVE RATE REVIEW............................................................................. 9 m ARTICLE VII DEVIATIONS FROM POLICY........................................................................................... 9 U_ ARTICLEVIII DEFINITIONS.....................................................................................................................9 r ARTICLEIX EFFECTIVE DATE..............................................................................................................12 N Page 4 Packet Pg. 49 2.4.a ARTICLE I INTRODUCTION The overall objective of Fund Balance/Reserve Management Policy is to define that portion of fund balance that is unavailable to support the current budget. In many ways, fund balance represents working capital, which can either be used as a liquidity reserve or for spending in future years. A comprehensive fund balance/reserve management policy provides guidelines for the major funds of the City of Edmonds and provides a structured approach in setting reserve levels in specifically designated funds. This Fund Balance/Reserve Management Policy is intended to guide prudent use of resources to provide for the much needed services to taxpayers and to maintain sound management policies. It is essential that governments maintain adequate levels of fund balance reserves to mitigate risks and provide a back-up for revenue shortfalls. Policy It is the policy of the City of Edmonds to provide for the continuity of City government by planning ahead for economic uncertainties and unforeseen or unplanned major expenditures. In order to achieve reserve goals the City must exercise prudent debt and liability management policies and follow sound fiscal management policies that prioritize the City's core services. This policy establishes reserve fund balance accounts that will provide funding for emergencies, economic uncertainties and for unanticipated operating expenses or revenue shortfalls. In addition, this policy incorporates provisions of Governmental Accounting Standards Board Statement (GASB) no. 54, Fund Balance Reporting and Governmental Fund Type Definitions. Objectives The purpose of this Fund Balance/Reserve Management Policy is to assist the City in the pursuit of the following equally important objectives: 1. Build adequate reserves which will provide the City the resources necessary for financial stabilization, particularly during times of unforeseen emergencies and economic downturns; 2. Establish sound fiscal reserve policies that will serve as the foundation for ensuring that strong fiscal management policies guide future City decisions; 3. Provide prudent guidelines regarding the establishment, use and replenishment of City committed or assigned fund balances/reserves; 4. Establish a process for periodic reporting and review of the City's various fund balances (reserves); and 5. Enhance the City's credit ratings received from rating institutions through the establishment of clearly delineated Fund/Reserve policies that promote strong fiscal management; 6. Establish reserve policies that are in full compliance with GASB 54 financial reporting requirements. Page 5 Packet Pg. 50 2.4.a ARTICLE II CRITERIA FOR ESTABLISHING APPROPRIATE FUND BALANCE RESERVE LEVELS There are key elements that must be reviewed and analyzed to determine the appropriate size of a given fund balance reserve. Failure to follow the guidelines established in this policy can result in developing unattainable fund reserve goals or unsustainable fund balance reserve levels. The following criteria shall be used in determining the appropriate fund balance reserve levels: Section 1. Volatility The predictability and/or the volatility of its revenues or its expenditures (i.e., higher levels of fund balance reserves may be needed if significant revenue sources are subject to unpredictable fluctuations or if operating expenditures are highly volatile). Section 2. Operating Fund Size The overall size of the fund's budgetary events should be taken into consideration in setting the required fund balance reserve level and type for a particular fund. Section 3. Purpose of Fund Balance Reserves Another consideration for determining the size of each reserve will be the purpose of the reserve: Is there significant or perceived exposure to one-time outlays (e.g., disasters, immediate capital needs, state budget cuts, or are there potential drains upon fund resources from other funds, or conversely, are there potential reductions in funding transfers from other funds)? Section 4. Bond Ratings The potential impact on the entity's bond ratings and the corresponding increased cost of borrowed funds. ARTICLE III COMMITTED GENERAL FUND BALANCE RESERVES POLICY This Policy shall establish a committed fund balance reserve within the General Fund, define funding levels and call the reserve the General Fund Operating Reserve. The purpose of the reserve is for meeting economic uncertainties, and unanticipated expenses or revenue shortfalls. This Policy requires the City to establish and maintain a General Fund Operating Reserve, within the General Fund, in an amount equal to or greater than 16% of the General Fund's Adopted Annual Operating Expenditure Budget. If it is determined that the reserve balances are not adequate, the Finance Director shall propose an amendment to these policies. A detailed accounting of this reserve account will be maintained by the Finance Department to show deposits, withdrawals (when authorized pursuant to policies contained herein) and interest earned. All accounting for these accounts shall be recorded in the City's ERP system. A detailed report, prepared by the Finance Department, shall be presented annually to the Council. Section 1. Establishment and Purpose of Operatin_g General Fund Operating Reserve A separate balance sheet account shall be setup by the Finance Director for the General Fund Operating Reserve, to be used in instances of fiscal emergencies that include: economic uncertainties, unforeseen emergencies and unanticipated operating expenses or revenue shortfalls. Page 6 Packet Pg. 51 2.4.a The Mayor has the power to declare a fiscal emergency based upon one of the following: 1) A natural catastrophe; 2) An immediate threat to health and public safety; or 3) A significant decline in General Fund revenues. The fiscal emergency declared by the Mayor must be approved by a simple majority of the City Council. Limitations of Fund Use Any use of the committed General Fund Operating Reserves shall be used only in cases of fiscal emergency and shall not be used to augment ongoing budgetary/operating spending increases. The committed General Fund Operating Reserve may also be used for one-time non -reoccurring expenditures and/or capital projects (operations and maintenance shall not be included), all as submitted by the Mayor and approved by the Council. The amount of funds to be withdrawn from this committed fund balance reserve shall be determined by the Mayor. In his/her presentation to the Council, the Mayor or his/her designee shall include a detailed list of how the funds will be applied. A simple majority vote of the Council shall be required to approve the amount and use of funds. Transition Policy Council adoption of this policy will trigger moving an amount not less than 16% of the General Fund's unrestricted fund balance to the General Fund Operating Reserve. General Fund Operating Reserve Replenishment If any use of the committed General Fund Operating Reserve has occurred, the Finance Director must present to Mayor and City Council an annual Replenishment Report during the month of November. The Replenishment Report must be presented each year, until the Reserves are fully replenished. The Replenishment Report must include the following information: 1) Amount of Reserves used 2) Whether it is anticipated additional Reserves will be needed in the following budget cycle, or 3) If no additional Reserves are needed, then the Replenishment Report must include a plan for replenishing the Reserve to policy mandated levels. The committed General Fund Reserve shall be restored pursuant to the guidelines delineated below: 1) If a reserve is drawn down by 0-10% of reserve fund balance, then a solution to replenish to at least the minimum shall be structured over a 1 to 3 year period. 2) If a reserve is drawn down by 11-25% of reserve fund balance, then the budgetary plan to restore the reserve shall be structured over a 3 to 5 year period. 3) If the reserve is drawn down by 26-50% of reserve fund balance, then a budgetary plan shall be implemented to return the reserve level to between 75% and 100% of the minimum balance over a 5 to 7 year period. ARTICLE IV CONTINGENT RESERVE FUND BALANCE POLICY This Policy shall establish a fund and define funding levels for a committed Fund Balance Reserve to Page 7 Packet Pg. 52 2.4.a be called the Contingent Reserve Fund. The primary purpose of the reserve is for meeting emergencies of the City and, secondarily, if the General Fund Operating Reserve have been exhausted, the Contingent Reserve Fund can be use in times of economic uncertainties, and for unanticipated expenses or revenue shortfalls. The target balance of the Reserve shall 1) not exceed the limitations set forth by RCW 35A.33.145, which sets the statutory maximum at $0.375 per $1,000 of assessed valuation and 2) when combined with the General Fund Operating Reserve, the two fund balance reserves shall not exceed 20% of the General Fund's Adopted Annual Operatin Expenditure Budget. In other words, if the General Fund Operating Reserve balance equals 16% of operating budget, then the Contingent Reserve Fund balance cannot exceed 4% of the operating budget. It further requires a simple majority vote of Council with a statement declaring the reason for their use. A detailed accounting of the Fund shall be maintained by the Finance Department to show deposits, withdrawals (when authorized pursuant to policies contained herein) and be presented annually to the Council. The Mayor has the power to declare a fiscal emergency based upon one of the following: 1) A natural catastrophe; 2) An immediate threat to health and public safety; or 3) A significant economic decline in General Fund revenues. The fiscal emergency declared by the Mayor must be approved by a simple majority of the City Council. Limitations of Fund Use Any use of the committed Contingent Reserves shall be used in cases of fiscal emergency, shall not be used to augment ongoing budgetary/operating spending increases and should be used only after the General Fund Operating Reserves have been exhausted or when City Council approves specific used of the committed Contingent Reserve for one-time non -reoccurring expenditures and/or capital projects (operations and maintenance shall not be included). The amount of funds to be withdrawn from this committed fund balance reserve shall be determined by the Mayor. In his/her presentation to the Council, the Mayor or his/her designee shall include a detailed list of how the funds will be applied. A simple majority vote of the Council shall be required to approve the amount and use of funds. Contingent Reserve Replenishment If any use of the committed Contingent Reserve has occurred, the Finance Director must present to Mayor and City Council an annual Replenishment Report during the month of November. The Replenishment Report must be presented each year, until the Reserves are fully replenished. The Replenishment Report must include the following information: 1) Amount of Reserves used 2) Whether it is anticipated additional Reserves will be needed in the following budget cycle, or 3) If no additional Reserves are needed, then the Replenishment Report must include a plan for replenishing the Reserve to policy mandated levels. The committed Contingent Reserve shall be restored pursuant to the guidelines delineated below: 1) If a reserve is drawn down by 0-10% of reserve fund balance, then a solution to replenish to at least the minimum shall be structured over a 1 to 3 year period. Page 8 Packet Pg. 53 2) If a reserve is drawn down by 11-25% of reserve fund balance, then the budgetary plan to restore the reserve shall be structured over a 3 to 5 year period. 3) If the reserve is drawn down by 26-50% of reserve fund balance, then a budgetary plan shall be implemented to return the reserve level to between 75% and 100% of the minimum balance over a 5 to 7 year period. ARTICLE V ANNUAL FUND BALANCE TYPES - STATUS REPORT Once a year, in August, the City Finance Director shall present to the Council Finance Committee a comprehensive report on the City's fund balance reserve types as of June 30th. The report shall include an updated fund balance reserve level for each fund balance type. This report shall include the following funds: 1. General Fund Operating Reserve balance; 2. Contingency Reserve Fund balance. ARTICLE VI FIVE-YEAR RESERVE RATE REVIEW Every five years, during the annual budget hearings, the Mayor, based upon a comprehensive financial and economic review of all City fund balance types and in consultation with the City Finance Director, and Department Directors as necessary, shall make recommendations to the City Council for either maintaining existing fund balance reserve polices or revising fund balance reserve policies including percentage ranges established by category herein and replenishment requirements by categories established herein. ARTICLE VII DEVIATIONS FROM POLICY No deviations from the fund balance reserve polices set forth in this Policy will be allowed except as approved by a simple majority of vote by the Council. This includes any increase or decrease in the base fund balance reserve levels established by this policy and expenditures from fund balance reserve accounts for anything other than the intended budgeted use of said fund balance. ARTICLE VIII DEFINITIONS Budget - A plan of financial operation containing an estimate of proposed expenditures for a given period (usually a fiscal year) and a proposed forecast of revenues (receipts) to cover them. A budget is also a plan that outlines an organization's financial and operational goals and strategies in monetary terms. Capital Expenditures are expenditures incurred when monies are spent either to buy fixed assets or to add to the value of an existing fixed asset with a useful life that extends beyond the fiscal year. In accounting, a capital expenditure is added to an asset account ("capitalized"), thus increasing the asset's basis (the cost or value of an asset). The general rule (even for municipalities) is that if the property acquired has a useful life longer than the fiscal year, the cost must be capitalized. The capital expenditure costs are then amortized or depreciated over the life of the asset in question. Page 9 Packet Pg. 54 2.4.a Comprehensive Annual Financial Report (CAFR) - A CAFR is a set of financial statements for a state, municipality or other governmental entity that comply with the accounting requirements established by the Governmental Accounting Standards Board (GASB). It must be audited by an independent auditor using generally accepted government auditing standards. The CAFR consists of three sections: Introductory, Financial and Statistical. The Introductory section orients and guides the reader through the report. The Financial section presents the entity's basic financial statements as well as notes to the statements and the independent auditors' report. The Statistical section provides additional financial and statistical data, including data about financial trends that may better inform the reader about the government's activities. Council - Means the legislative body (the city council) that governs the City of Edmonds. Expenditure - The actual payment of cash or cash equivalent for goods delivered or services rendered, or a charge against available funds in settlement of an obligation as evidenced by an invoice, voucher or other such document during the fiscal year. For governmental reporting purposes, expenditures include expenses or a provision for debt retirement not reported as a liability of the fund from which retired. Fiscal Year - A 12 month period to which the annual operating budget applies and the end of which a governmental unit determines its financial position and the results of its operations. The City has specified January 1 through December 31 as its fiscal year. Fund - A fund is a self -balancing set of accounts recording cash and other financial resources, together with all related liabilities and "residual" equity or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain planned objectives in accordance with special regulations, restrictions or limitations. Fund Balances - The overall objective of fund balance reporting is to isolate that portion of a fund balance that is unavailable to support the following period's budget (see GASB 54 definition below). In general, an unassigned fund balance shall be defined as those amounts that are not restricted, committed, or assigned, of a particular fund at the end of the fiscal year. GASB 54 - Fund Balance Reporting and Governmental Fund Type Definitions - The City of Edmonds's CAFR Financial Statements are required to comply with GASB 54 beginning with its Fiscal Year End 2011 CAFR going forward. GASB 54 changes and identifies fund balance classifications that can be more consistently applied by clarifying existing governmental fund type definitions. Fund balance is basically the difference between the assets and liabilities reported in a fund. GASB statement No. 54 provides the following five categories for classifying fund balance and related definitions to be used for describing the components of fund balance: 1. Nons endahle Fund Balance Amounts that are not in a spendable form or are required to be maintained intact. Due to the nature or form of the resources, they generally cannot be expected to be converted into cash or a spendable form (e.g. Inventories and prepaid amounts). This also Page 10 Packet Pg. 55 2.4.a includes long-term loan and notes receivable and property held for resale. Applies as well to amounts that must be retained intact legally or contractually. 2. Restricted Fund Balance — Amounts that can be spent only for the specific purposes stipulated. Constraints are placed on the use of resources by external parties (e.g. by creditors, grant providers, contributors) or by laws or regulations (e.g. constitution or legally enforceable language). Restrictions may be changed or lifted only with the consent of the resource provider. 3. Committed Fund Balance.— Amounts can only be used for the specific purposes determined by a formal action of City Council. Constraints on fund balance use are imposed by internal formal action of the government's highest level of decision -making authority (e.g. City Council) and can only be removed or changed by taking the same type of action it employed to commit those amounts through legislation, resolution, or ordinance (e.g. funds committed to satisfy contractual obligations). Action to constrain resources must occur prior to year-end; however the amount can be determined in the subsequent period. 4. Assigned Fund Balance — Assigned fund balances include amounts that are limited by the Council, Mayor, or his/her designee, for its intended use, but little or no formal action is required to modify or eliminate those limitations. Assigned fund balances comprises amounts intended to be used for a specific purpose. Amounts reported as assigned should not result in a deficit in unassigned fund balance. Also relates to all governmental funds other than the General Fund, with any remaining positive amounts not classified as nonspendable, restricted or committed. 5. Unassigned Fund Balance — Comprises the residual classification for the General Fund and includes all amounts not contained in the other classifications. Unassigned amounts are available for any purpose. This represents the residual amount of the fund balance that has not been restricted, committed, or assigned. General Fund - In public sector accounting, the General Fund is the primary operating fund for all revenues of the City that are not otherwise restricted as to their use, including monies from local property and sales tax, and other revenue sources that are not assigned for a specific purpose. The General Fund provides the resources necessary to pay/sustain the day-to-day activities for City services such as administration, community services, parks and recreation, police, fire, public works, elected officials, Mayor, and City Council. When governments or administrators talk about "balancing the budget" they typically mean balancing the budget for their general fund. Government Accounting Standards Board (GASB) - GASB is the private, nonpartisan, nonprofit organization that works to create and improve the rules U.S. state and local governments follow when accounting for their finances and reporting them to the public. While the GASB does not have the power to enforce compliance with the standards it promulgates, the authority for its standards is recognized under the Rules of Conduct of the AICPA. Also, legislation in many states requires compliance with GASB standards, and governments usually are expected to prepare financial statements in accordance with those standards when they issue bonds or notes or otherwise borrow from public credit markets. The GASB was established in 1984 and is funded by publication sales, contributions from state and local governments, and voluntary assessment fees from municipal bond issues. Operating Budget — A detailed projection of all estimated income and expenses based on forecasted revenue during a given period (usually one year). Since an operating budget is a short-term budget, capital outlays are excluded because they are long-term costs. One-time revenues, such as grants, settlements, Page 11 Packet Pg. 56 2.4.a sales of assets and transfers are excluded because often they are non -recurring sources of revenues and cannot be counted on coming in from one budget cycle to the next. Revenue - The income of a government from all sources appropriated for the payment of the public expenses. It includes such items as tax payments, fees from specific services, receipts from other governments, fines, forfeitures, grants, shared revenues and interest income. Structural Budget Deficit or "Gap" - A budget deficit (Gap) that results from a fundamental imbalance whereby current year governmental expenditures exceed current year revenues without any consideration of carryover or prior year unspent revenue balances if they exist. A structural deficit remains across the operating fiscal cycle because the general level of government spending is too high for the prevailing revenue structure (e.g., taxes, fees and other sources). A fiscal Gap, is a structural budget deficit over an extended period of time and not only includes the structural deficit at a given point in time but also the difference between promised future government commitments, such as health and retirement spending, and future planned or anticipated tax and other revenues. Another description is that the current revenue structure is insufficient to maintain services at the current level. ARTICLE IX EFFECTIVE DATE This policy shall take effect upon its final adoption by the City Council. Page 12 Packet Pg. 57