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2023-10-19 City Council Special Packet1. 2. 3. 4. S. OF Bbj, ti Agenda Edmonds City Council 1,00 SPECIAL MEETING BRACKETT ROOM 121 5TH AVE N, CITY HALL- 3RD FLOOR, EDMONDS, WA 98020 OCTOBER 19, 2023, 2:00 PM PERSONS WISHING TO JOIN THIS MEETING VIRTUALLY IN LIEU OF IN -PERSON ATTENDANCE MAY CLICK ON OR PASTE THE FOLLOWING ZOOM MEETING LINK INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM. US/J/95798484261 BY PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 "WE ACKNOWLEDGE THE ORIGINAL INHABITANTS OF THIS PLACE, THE SDOHOBSH (SNOHOMISH) PEOPLE AND THEIR SUCCESSORS THE TULALIP TRIBES, WHO SINCE TIME IMMEMORIAL HAVE HUNTED, FISHED, GATHERED, AND TAKEN CARE OF THESE LANDS. WE RESPECT THEIR SOVEREIGNTY, THEIR RIGHT TO SELF-DETERMINATION, AND WE HONOR THEIR SACRED SPIRITUAL CONNECTION WITH THE LAND AND WATER. - CITY COUNCIL LAND ACKNOWLEDGMENT CALL TO ORDER LAND ACKNOWLEDGEMENT ROLL CALL APPROVAL OF THE AGENDA COUNCIL BUSINESS 1. 2024 Budget Workshop: Questions and Discussion (60 min) 2. Snohomish County Tax Asessor Presentation (60 min) 3. 2024 Budget Workshop: 2024 Proposed Revenues (60 min) ADJOURN Edmonds City Council Agenda October 19, 2023 Page 1 5.1 City Council Agenda Item Meeting Date: 10/19/2023 2024 Budget Workshop: Questions and Discussion Staff Lead: City Council Department: City Council Preparer: Beckie Peterson Background/History The 2024 Proposed Budget includes Strategic Outlook (attached) that provide details of the 2023 estimates, 2024 Budget, and projections of 2025-2028. Recommendation N/A Narrative Councilmembers will ask questions and participate in discussion regarding the Analysis of 2023 Estimates of General Fund Revenues, Expenditures and Fund Balance. Supporting documents attached for discussion include the 2024 Strategic Outlook pages from the 2024 Proposed Budget Book, the most recent monthly financial report (August 2023), the Jan -Jun 2023 P&L showing General Fund changes in Fund Balance as of June 30, and the 2019 Fund Balance Policy. Attachments: Pages from 2024Proposed Budget--10-3-2023 August 2023 Financial Report Jan -June 2023 P&L Fund_Balance_Reserve_Policy_July_2019 Packet Pg. 2 2024 Proposed Budget 5.1.a City of Edmonds, Washington Beginning Fund Balance Revenue Property Taxes Retail Sales Taxes Other Sales Taxes Utility Taxes Other Taxes Licenses/Permits/Franchise Construction Permits State Revenues Charges for Goods & Services Interfund Service Charges Fines & Forfeitures Miscellaneous Revenues Transfers Total Revenues Revenue % Change YOY Expenditures Labor Benefits Supplies Services Capital Debt Service Transfers Total Expenses Expense % Change YOY Change in Ending Fund Balance Anticipated Under -Expenditure Ending Fund Balance STRATEGIC OUTLOOK CITY OF EDMONDS GENERAL FUND REVENUES, EXPENDITURES, AND FUND BALANCES 2021 - 2028 ANALYSIS 2021 2022 2023 2024 2025 2026 2027 2028 Actual Actual Estimate Budget Outlook Outlook Outlook Outlook 13,843,806 15,915,319 119902,933 6,664,594 12,105,000 15,905,000 19,121,000 21,960,000 14,654,572 14,843,369 15,905,100 15,905,500 11,480,000 11,606,000 11,734,000 11,863,000 10,508,460 11,313,760 12,100,000 12,300,000 13,03 8,000 13,690,000 14,375,000 14,950,000 977,315 1,041,146 1,150,000 1,150,000 1,242,000 1,304,000 1,369,000 1,437,000 6,463,896 6,599,936 7,314,500 7,473,652 8,072,000 8,476,000 8,900,000 9,345,000 375,461 410,894 421,550 416,150 441,000 463,000 486,000 510,000 1,761,282 1,790,243 1,869,102 1,833,750 1,925,000 2,021,000 2,122,000 2,228,000 691,905 769,928 390,000 160,000 168,000 176,000 185,000 194,000 368,376 259,347 1,960,929 6,541,100 200,000 200,000 200,000 200,000 1,240,271 1,107,943 1,188,610 1,163,610 1,187,000 1,211,000 1,235,000 1,260,000 2,792,824 3,020,628 3,903,302 4,093,512 3,216,000 3,312,000 3,411,000 3,513,000 3,120,735 - 3,427,765 4,032,314 4,194,000 4,404,000 4,624,000 4,855,000 272,303 182,884 302,350 4,402,350 4,946,000 4,995,000 5,045,000 5,095,000 469,739 1,074,351 1,582,518 1,009,132 1,029,000 1,050,000 1,071,000 1,092,000 413,547 26,300 97,726 2,011,701 40,000 40,000 40,000 40,000 44,110,686 42,440,729 51,613,452 62,492,771 51,178,000 52,948,000 54,797,000 56,582,000 4% -4% 22% 21% -18% 3% 7% 7% 17,919,401 17,498,086 22,675,683 24,086,455 25,773,000 27,319,000 28,685,000 30,119,000 6,278,943 6,076,441 7,615,630 8,151,355 8,722,000 9,245,000 9,800,000 10,388,000 708,590 837,672 1,062,576 1,031,516 1,062,000 1,094,000 1,127,000 1,161,000 16,145,255 18,736,558 22,701,765 24,703,508 13,445,000 13,848,000 14,263,000 14,691,000 268,886 1,597,773 1,130,565 - - - - - 60,228 391,523 323,590 801,400 800,000 800,000 800,000 800,000 657,870 1,315,062 1,341,982 655,000 600,000 600,000 600,000 600,000 42,039,173 46,453,115 56,851,791 59,429,234 50,402,000 52,906,000 55,275,000 57,759,000 -5% 10% 22% 5% -15% 5% 4% 4% 2,071,513 (4,012,386) (5,238,339) 3,063,537 776,000 42,000 (478,000) (1,177,000) - - - 2,376,869 3,024,000 3,174,000 3,317,000 3,466,000 15,915,319 11,902,933 6,664,594 12,1059000 15,905,000 19,121,000 21,960,000 24,249,000 For additional information regarding the fund balance calculations, see the City's Fund Balance Reserve Policy, adopted via Resolution 1433 16 Packet Pg. 3 2024 Proposed Budget City of Edmonds, Washington 5.1.a STRATEGIC OUTLOOK CITY OF EDMONDS GENERAL FUND FUND BALANCES 2021- 2028 ANALYSIS 2021 2022 2023 2024 2025 2026 2027 2028 Ending Fund Balances: Actual Actual Estimate Budget Outlook I Outlook I Outlook I Outlook General Fund (00 1) S 15,915,319 $ 11,902,933 $ 6,664,594 $ 9,830,928 $ 13,888,920 $ 17,004,760 $ 19,749,000 $ 21,938,640 Contingency Fund (0 12) 1,782,149 1,782,149 2,274,072 2,274,072 2,016,080 2,116,240 2,211,000 2,310,360 Total $ 17,697,468 $ 13,685,082 $ 8,938,666 $ 12,105,000 $ 15,905,000 $ 19,121,000 $ 21,960,000 $ 24,249,000 2021 2022 2023 2024 2025 2026 2027 2028 Actual Actual Estimate Budget Outlook Outlook I Outlook Outlook Fund Balance Policy Analysis General Fund (16%) S 7,253,745 $ 8,067,161 $ 8,914,686 $ 9,611,775 $ 8,064,320 $ 8,464,960 $ 8,844,000 $ 9,241,440 Contingency Fund (4%) 1,782,149 1,782,149 2,228,672 2,274,072 2,016,080 2,116,240 2,211,000 2,310,360 Total Fund Balance Required Per Policy (20%) 9,035,894 9,849,310 11,143,358 11,885,847 10,080,400 10,581,200 11,055,000 11,551,800 Total GF & Contingency Fund Balances 17,697,468 13,685,082 8,938,666 12,105,000 15,905,000 19,121,000 21,960,000 24,249,000 Unreserved Fund Balance - in Excess of Minimum Required Amount $ 8,661,574 $ 3,835,772 $ (2,204,692) $ 219,153 $ 5,824,600 S 8,539,800 $ 10,905,000 $ 12,697,200 2021 2022 2023 2024 2025 2026 2027 2028 Other GF Fund Balances Actual Actual Estimate Budget Outlook I Outlook I Outlook F Outlook LEOFF Medical Insurance (009) $ 255,218 $ 216,864 $ 130,224 $ 13,084 $ 75,000 $ 75,000 $ 75,000 $ 75,000 Risk Management (0 11) 25,000 25,000 - - - - - - Historic Preservation (014) 16,422 11,701 11,701 - - Building Maintenance (016) 4,400,000 4,296,604 3,239,084 546,374 200,000 - - - Marsh Restoration & Pres. (017) 848,617 849,766 849,766 849,766 849,766 849,766 849,766 849,766 Homelessness Response (018) - 200,000 200,000 200,000 200,000 200,000 200,000 200,000 Opioid Response (019) - - 60,000 110,000 - - - - Total GF Sub -Funds $ 5,545,257 $ 5,599,935 $ 4,490,775 $ 1,719,224 $ 1,324,766 $ 1,124,766 $ 1,1249766 $ 1,124,766 17 Packet Pg. 4 I 5.1.b I O-V lac. 1 ISOv CITY OF EDMONDS MONTHLY BUDGETARY FINANCIAL REPORT AUGUST 2023 Packet Pg. 5 1 INVESTMENT PORTFOLIO SUMMARY I 5.1.b I Agency/ Investment Issuer Type FHLB Bonds First Financial - ECA CD Kent WA Bonds First Financial - Waterfront Center CD FHLB Bonds FHLB Bonds FM Bonds FNMA Bonds FFCB Bonds FHLB Bonds Spokane County WA Bonds FHLMC Bonds Farmer Mac Bonds FHLB Bonds US Treasury Note Note FFCB Bonds Farmer Mac Bonds TOTAL SECURITIES Washington State Local Gov't Investment Pool Snohomish County Local Gov't Investment Pool TOTAL PORTFOLIO City of Edmonds Investment Portfolio Detail As of August 31, 2023 Years Purchase to Par Price Maturity Value Market Value Maturity Date Coupon Rate 1,996,590 0.10 2,000,000 1,989,216 10/05/23 0.22% 2,803,516 0.21 2,803,516 2,803,516 11/15/23 2.08% 286,648 0.25 250,000 251,000 12/01/23 5.00% 245,000 0.33 245,000 245,000 12/28/23 1.49% 2,004,464 0.38 2,000,000 1,993,132 01/16/24 4.81% 954,866 0.61 1,000,000 967,973 04/10/24 0.35% 996,082 0.80 1,000,000 977,966 06/17/24 2.80% 992,693 0.84 1,000,000 969,230 07/02/24 1.75% 1,960,906 1.04 2,000,000 1,960,817 09/13/24 3.50% 950,774 1.22 1,000,000 944,331 11/18/24 0.90% 207,260 1.25 200,000 191,950 12/01/24 2.10% 974,798 1.53 1,000,000 975,450 03/13/25 3.75% 1,995,088 1.63 2,000,000 1,970,376 04/17/25 4.25% 969,524 1.91 1,000,000 973,337 07/28/25 3.60% 964,597 1.96 1,000,000 966,836 08/15/25 3.13% 1,982,692 2.27 2,000,000 1,968,622 12/08/25 4.13% 1,994,172 2.43 2,000,000 1,968,223 02/02/26 3.95% 22,279,670 1.10 22,498,516 22,116,977 10,630,000 10,630,000 Demand 5.34% 33,713,152 33,713,152 Demand 2.31% Kent Issuer Diversification Fi rst WA, Financial- 1% CD, 14% Farmer Spokane Mac, 18% County WA, 1% FHLMC, 4% - 011111l FFCB, 18% FHLB, 31% _k $ 66,841,668 $ 66,460,129 Cash and Investment Balances Checki ng, (in $Millions) _$5.87, 8% Bonds, State LGIP, Note, $18.45, $10.63, $1.00, 2%� 25% 15% CD's, $3.05, County 4% LGIP, $33.71, 46% L1 Packet Pg. 6 1 L 5.1.b INVESTMENT PORTFOLIO SUMMARY Annual Interest Income $1,400,000 $1,200,000 $1 236 875 $947,931 950 684 1091 709 $1,029,893 $1,000,000 $882 556 $800,000 $600,000 $400,000 — $200,000 $- 2018 2019 2020 2021 2022 YTD 2023 2 Packet Pg. 7 GENERAL FUND SUMMARY I 5.1.b I General Fund Revenues and Expenses (Rolling 24 months) — — — General Fund Revenues — General Fund Expenses 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 September December March June 12,000,000 10,000, 000 8,000,000 6,000,000 4,000,000 2,000,000 September December March June General Fund Tax Revenue (2017 through 2022 — — — Sales Tax Property Tax EMS Tax Other Taxes 2017 2018 10,000,000 9,000,000 8,000,000 $7,597,605 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 Sales Tax 0 Q. m �a .v 2019 2020 2021 2022 U. M N O N General Fund Tax Revenue (2023 YTD) a c a) $5,868,802 $5,771,257 E t v is r Property Tax EMS Tax Other Taxes 3 Packet Pg. 8 I 5.1.b I City of Edmonds, WA Monthly Revenue Summary -General Fund 2023 General Fund Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 2,843,094 $ 2,843,094 $ 2,320,252-18.39% February 5,636,382 2,793,288 4,920,100-12.71% March 8,487,993 2,851,611 8,150,445 -3.98% April 12,010,212 3,522,219 16,689,365 38.96% May 22,451,612 10,441,400 21,615,550 -3.72% June 25,498,180 3,046,568 23,772,230 -6.77% July 28,462,795 2,964,616 27,008,084 -5.11% August 31,857,014 3,394,219 30,494,023 -4.28% September 34,651,707 2,794,693 October 39,245,890 4,594,183 November 49,438,148 10,192,259 December 52,558,830 3,120,682 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 $ 343,196 $ 343,196 $ 151,084 -55.98% February 564,002 220,806 270,799 -51.99% March 914,189 350,187 521,829 -42.92% April 1,199,839 285,649 745,931 -37.83% May 1,552,936 353,097 1,053,507 -32.16% June 1,933,322 380,387 1,272,041 -34.20% July 2,318,897 385,574 1,582,268 -31.77% August 2,728,590 409,693 1,854,598 -32.03% September 3,157,962 429,373 October 3,549,820 391,858 November 3,941,307 391,487 December 4,400,000 458,693 Real Estate Excise Tax 1 & 2 500,000 0 JAN FEB MAR APR MAY RUN JUL AUG SEP OCT NOV DEC +Current Year Budget � Prior Year *The monthly budget forecast columns are based on a five-year average. 1-M O CL d lC C R C E t`M N O N r+ N 7 7 Q r.+ C O E t V M a+ r+ a 4 Packet Pg. 9 I 5.1.b I SALES TAX SUMMARY Sales Tax Analysis By Category Current Period: August 2023 Year -to -Date Total $7,597,605 Automotive Repair, Construction Trade, Health & Personal Care, $169,494 $1,237,324 $59,075 Accommodation, Mdffig and Accessories, $236,419� Co t' Amusement & Recreation, $62,249 Business Services, $799,111 Gasoline, $0 Retail Food Stores, $254,706 Retail Automotive, mmumca ions, Misc Retail, ,8(4oManufactuting, $86,407336$165,217 $1,403,683 Wholesale Trade, $225,200 Others, $186,183 Eating & Drinking, $879,641 il-o Annual Sales Tax Revenue 12,000,000 — $10,302,518 $1 27 10,000,000 — $7,395,114 $8,406,296 $8,452,715 $8,317,046 8,000,000 $7,597,605 6,000, 000 — 4,000, 000 2,000, 000 0 2017 2018 2019 2020 2021 2022 YTD 2023 5 Packet Pg. 10 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 5,538,698 -0.53% July 6,580,085 1,012,114 6,542,037 -0.58% August 7,669,335 1,089,249 7,597,605 -0.94% 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 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 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 5,794,100 -3.91% July 6,148,773 118,816 5,817,644 -5.39% August 6,198,768 49,995 5,868,802 -5.32% 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 Pe rs onaMope rty 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 --0--CurrentYeaz Budget �PriorYear *The monthly budget forecast columns are based on a five-year average. 6 Packet Pg. 11 I 5.1.b 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 65,542 431,287 -1.78% July 541,031 101,910 543,193 0.40% August 629,368 88,337 633,755 0.70% September 748,356 118,987 October 835,253 86,898 November 933,046 97,793 December 993,712 60,666 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 Year Budget -d-- Prior Year City of Edmonds, WA Monthly Revenue Summary -Sewer Utility Tax 2023 Sewer Utility Tax 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 79,080 501,909 -4.19% July 620,193 96,343 596,420 -3.83% August 699,682 79,489 673,646 -3.72% September 799,189 99,507 October 879,620 80,432 November 976,901 97,281 December 1,055,821 78,920 Sewer Utility Tax 1,200,000 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 RUN JUL AUG SEP OCT NOV DEC -CurrentYear Budget -d-- Prior Year *The monthly budget forecast columns are based on a five-year average. 7 Packet Pg. 12 I 5.1.b I City of'Edmonds, WA Monthly Revenue Summary -Meter Water Sales 2023 Meter Water Sales Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals 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 4,312,420 -5.79% July 5,644,291 1,066,835 5,431,418 -3.77% August 6,565,058 920,767 6,336,928 -3.47% 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 YTD Variance Budget Forecast Budget Forecast Actuals 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 3,004,165 -10.81% July 3,844,019 475,908 3,441,481 -10.47% August 4,895,662 1,051,643 4,390,758 -10.31% 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 0 I 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. L-M 0 CL d lC C R C ILL t`M N O N r+ N 7 3 Q r+ C 4) E t V M a+ r+ a g Packet Pg. 13 I 5.1.b 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 $ February March April May June July August September October November December 958,430 $ 1,745,646 2,695,497 3,484,346 4,445,696 5,235,623 6,198,081 6,992,099 7,987,044 8,790,485 9,763,192 10,551,011 958,430 $ 900,021 787,217 1,665,119 949,850 2,565,291 788,849 3,333,389 961,351 4,249,590 789,927 5,021,702 962,458 5,967,694 794,018 6,690,009 994,945 803,441 972,707 787,819 -6.09 -4.61 -4.83 -4.33 -4.41 -4.09 -3.72 -4.32 Unmeter Sewer Sales 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. L1 9 Packet Pg. 14 I 5.1.b I City ofEdmonds, WA Monthly Expenditure Report -General Fund 2023 General Fund Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 6,137,826 $ 6,137,826 $ 4,868,760 -20.68% February 11,064,571 4,926,745 10,063,682 -9.05% March 15,921,618 4,857,047 14,793,075 -7.09% April 20,583,943 4,662,325 18,985,494 -7.77% May 25,612,342 5,028,399 23,497,459 -8.26% June 31,411,865 5,799,523 28,704,022 -8.62% July 36,363,006 4,951,141 33,359,621 -8.26% August 41,130,318 4,767,313 38,672,822 -5.97% September 46,432,507 5,302,189 October 51,692,989 5,260,482 November 57,566,174 5,873,185 December 63,970,754 6,404,580 City of Edmonds, WA Monthly Expenditure Report -Non -Departmental 2023 Non -Departmental Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 2,703,415 $ 2,703,415 $ 1,642,894 -39.23% February 4,120,779 1,417,364 3,380,586 -17.96% March 5,420,914 1,300,136 4,986,307 -8.02% April 6,544,202 1,123,288 6,091,521 -6.92% May 7,951,492 1,407,290 7,245,913 -8.87% June 10,036,224 2,084,733 9,392,113 -6.42% July 11,274,698 1,238,474 10,555,304 -6.38% August 12,335,881 1,061,182 12,600,704 2.15% September 13,768,928 1,433,047 October 15,093,355 1,324,427 November 16,728,866 1,635,512 December 18,488,589 1,759,723 *The monthly budget forecast columns are based on a five-year average. L1 O CL Q f4 C C IL M N O N N 3 3 Q C d E t V f4 r.+ Q 10 Packet Pg. 15 1 I 5.1.b I City of Edmonds, WA Monthly Expenditure Report -City Council 2023 City Council Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 31,587 $ 31,587 $ 33,649 6.53% February 65,597 34,010 71,252 8.62% March 104,151 38,554 108,460 4.14% April 141,020 36,870 142,437 1.00% May 188,108 47,087 180,396 -4.10% June 237,876 49,768 208,152 -12.50% July 275,165 37,290 249,010 -9.51% August 325,994 50,829 283,971 -12.89% September 365,198 39,203 October 398,695 33,497 November 440,782 42,088 December 486,719 45,937 City of Edmonds, WA Monthly Expenditure Report -Office of Mayor 2023 Office of Mayor Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 41,345 $ 41,345 $ 32,343 -21.77% February 84,589 43,243 63,133 -25.37% March 126,357 41,768 101,671 -19.54% April 168,957 42,600 133,210 -21.16% May 210,634 41,677 164,114 -22.09% June 251,812 41,178 195,229 -22.47% July 293,809 41,997 229,429 -21.91% August 335,446 41,636 259,788 -22.55% September 377,299 41,854 October 418,301 41,002 November 461,679 43,378 December 505,239 43,560 *The monthly budget forecast columns are based on a five-year average. 1-M O CL d lC C R C U. t`M 04 O N r+ N 7 IM 7 Q r+ C 4) E t V M a+ r+ a 11 Packet Pg. 16 1 I 5.1.b I City ofEdmonds, WA Monthly Expenditure Report -Human Resources 2023 Human Resources Cumulative Budget Forecast Monthly Budget Forecast YTD Actuals Variance January $ 115,695 $ 115,695 $ 93,116 -19.52% February 219,840 104,145 164,590 -25.13% March 315,272 95,432 230,737 -26.81% April 415,812 100,540 296,057 -28.80% May 516,054 100,242 367,942 -28.70% June 651,834 135,780 455,291 -30.15% July 741,246 89,412 531,164 -28.34% August 839,112 97,865 605,627 -27.83% September 944,153 105,041 October 1,042,607 98,454 November 1,156,556 113,949 December 1,297,746 141,190 City of Edmonds, WA Monthly Expenditure Report -Municipal Court 2023 Municipal Court Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 135,694 $ 135,694 $ 114,975 -15.27% February 273,214 137,520 231,321 -15.33% March 414,829 141,615 352,625 -15.00% April 558,136 143,307 476,351 -14.65% May 711,840 153,704 611,186 -14.14% June 853,118 141,278 726,808 -14.81% July 997,788 144,670 855,668 -14.24% August 1,159,264 161,476 980,820 -15.39% September 1,307,192 147,929 October 1,460,910 153,718 November 1,645,269 184,359 December 1,827,709 182,440 *The monthly budget forecast columns are based on a five-year average. L1 O CL Q f4 C C LL M N O N N 3 3 Q C d E t V f4 r.+ Q 12 Packet Pg. 17 1 I 5.1.b 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 $ 82,768 $ 82,768 $ 84,200 1.73% February 173,748 90,980 172,586 -0.67% March 267,297 93,549 263,059 -1.59% April 356,785 89,487 362,832 1.70% May 449,350 92,565 470,437 4.69% June 543,530 94,180 599,614 10.32% July 642,047 98,517 718,488 11.91% August 759,375 117,328 872,904 14.95% September 869,058 109,683 October 983,298 114,241 November 1,129,896 146,598 December 1,312,555 182,659 *The monthly budget forecast columns are based on a five-year average. L1 13 Packet Pg. 18 1 I 5.1.b 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 $ 240,643 $ 240,643 $ 355,645 47.79% February 398,793 158,150 530,347 32.99% March 615,290 216,497 683,467 11.08% April 701,637 86,346 798,011 13.74% May 824,702 123,066 888,529 7.74% June 965,060 140,358 982,174 1.77% July 1,069,578 104,518 1,136,037 6.21% August 1,225,467 155,890 1,267,203 3.41% September 1,381,721 156,254 October 1,557,117 175,396 November 1,672,249 115,132 December 1,943,624 271,375 Administrative Services Fund 512 - Technology Rental Fund 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 Yeaz Budget -0-- Prior Year City of Edmonds, WA Monthly Expenditure Report -Administrative Services 2023 Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 265,902 $ 265,902 $ 253,437 February 452,065 186,163 571,249 March 638,942 186,877 774,413 April 830,237 191,295 964,313 May 1,020,418 190,181 1,156,484 June 1,279,620 259,202 1,327,293 July 1,494,954 215,334 1,531,898 August 1,686,406 191,452 1,715,648 September 1,878,906 192,501 October 2,079,936 201,029 November 2,305,663 225,728 December 2,502,670 197,007 -4.69% 26.36% 2,200,000 2,000,000 21.20% 1,800,000 16.15% 1,600,000 13.33% 1,400,000 1,200,000 3.73% 1,000,000 2.47% 800,000 1.73% 600,000 400,000 200,000 0 Administrative Services JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC --+-Current Yeaz Budget � Prior Yeaz *The monthly budget forecast columns are based on a five-year average. 14 Packet Pg. 19 I 5.1.b I City ofEdmonds, 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 96,815 347,909 -28.13% June 580,890 96,815 427,830 -26.35% July 677,705 96,815 534,282 -21.16% August 774,520 96,815 559,282 -27.79% September 871,335 96,815 October 968,150 96,815 November 1,064,965 96,815 December 1,161,780 96,815 City Attorney 1,200,000 1,100,000 1,000,000 900,000 800,000 700,000 600,000 500,000 _S 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 -Police 2023 Police Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 1,151,199 $ 1,151,199 $ 1,041,369 -9.54% February 2,301,161 1,149,962 2,119,852 -7.88% March 3,503,278 1,202,117 3,173,554 -9.41% April 4,662,822 1,159,544 4,326,784 -7.21% May 5,864,448 1,201,626 5,521,298 -5.85% June 7,133,272 1,268,824 6,661,514 -6.61% July 8,339,111 1,205,839 7,971,401 -4.41% August 9,474,966 1,135,855 9,201,003 -2.89% September 10,670,868 1,195,902 October 11,909,831 1,238,963 November 13,362,651 1,452,820 December 14,826,373 1,463,722 L1 O Q Q f4 C C LL M N O N N 3 3 Q C d E t V f4 r.+ Q *The monthly budget forecast columns are based on a five-year average. 15 Packet Pg. 20 I 5.1.b I City ofEdmonds, WA Monthly Expenditure Report -Development Services 2023 Planning & Development Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 396,763 $ 396,763 $ 286,492 -27.79% February 814,630 417,867 595,086 -26.95% March 1,215,923 401,293 913,919 -24.84% April 1,639,139 423,216 1,265,403 -22.80% May 2,055,194 416,055 1,622,646 -21.05% June 2,468,896 413,702 1,934,311 -21.65% July 2,920,497 451,601 2,263,472 -22.50% August 3,344,297 423,800 2,566,672 -23.25% September 3,786,123 441,826 October 4,225,508 439,384 November 4,698,931 473,423 December 5,246,507 547,576 Planning & Development 5,500,000 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 keoff 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 Yeaz Budget -0-- Prior Year City of Edmonds, WA Monthly Expenditure Report -Parks & Recreation 2023 Parks & Recreation Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals January $ 459,579 $ 459,579 $ 589,720 28.32% February 962,158 502,579 958,125 -0.42% March 1,464,827 502,669 1,386,849 -5.32% April 1,968,317 503,490 1,788,118 -9.15% May 2,483,065 514,748 2,229,794 -10.20% June 3,029,389 546,324 2,623,359 -13.40% July 3,627,065 597,675 3,206,401 -11.60% August 4,246,106 619,041 3,766,096 -11.30% September 4,912,622 666,516 October 5,460,137 547,515 November 6,019,055 558,918 December 6,598,994 579,939 L1 Parks & Recreation 7,000,000 6,500,000 6,000,000 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 Yeaz Budget � Prior Yeaz *The monthly budget forecast columns are based on a five-year average. 16 Packet Pg. 21 I 5.1.b I City of Edmonds, 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 637,500 106,250 102,751 -83.88% July 743,750 106,250 128,411 -82.73% August 850,000 106,250 128,411 -84.89% September 956,250 106,250 October 1,062,500 106,250 November 1,168,750 106,250 December 1,275,000 106,250 City of Edmonds, WA Monthly Expenditure Report -Facilities Maintenance 2023 Facilities Maintenance Cumulative Monthly YTD Variance Budget Forecast Budget Forecast Actuals % January $ 279,527 $ 279,527 $ 335,018 19.85% February 638,903 359,376 935,298 46.39% March 1,011,874 372,971 1,264,752 24.99% April 1,367,475 355,601 1,451,697 6.16% May 1,690,876 323,401 1,803,967 6.69% June 1,957,047 266,171 2,002,414 2.32% July 2,280,286 323,239 2,209,753 -3.09% August 2,699,956 419,669 2,409,557 -10.76% September 3,185,324 485,369 October 3,725,458 540,133 November 4,170,818 445,360 December 4,877,452 706,634 Facilities Maintenance 11500,000 1,000,000 - 500,000 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC _Current Year Budget Prior Year *The monthly budget forecast columns are based on a five-year average. rm O Q- d lC C R C LL M N (D N r+ N 7 7 Q r+ C 4) E t V M a+ r+ a 17 Packet Pg. 22 I 5.1.b I City of Edmonds, WA Monthly Expenditure Report -Engineering 2023 Engineering Cumulative Monthly TFD Variance Budget Forecast Budget Forecast ActuaIs January $ 283,132 $ 283,132 $ 261,418 -7.67% February 567,413 284,281 531,670 -6.30% March 856,666 289,253 807,168 -5.78% April 1,149,630 292,964 1,076,687 -6.34% May 1,470,075 320,445 1,353,969 -7.90% June 1,765,968 295,893 1,652,623 -6.42% July 2,074,354 308,386 1,918,939 -7.49% August 2,376,166 301,813 2,184,156 -8.08% September 2,668,549 292,382 October 2,965,801 297,252 November 3,290,206 324,405 December 3,615,509 325,303 Engine a ring 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 Yew Budget Prior Year L1 O Q O ca C C M M N O N N 3 3 Q C d E t C1 14 r.+ Q *The monthly budget forecast columns are based on a five-year average. 18 Packet Pg. 23 I 5.1.b I Page 1 of 1 CITY OF EDMONDS REVENUES BY FUND - SUMMARY Fund 2023 Amended 8/31/2022 8/31/2023 Amount No. Title Budget Revenues Revenues Remaining %Received 001 GENERAL FUND $ 52,558,830 $ 27,906,485 $ 30,494,023 $ 22,064,807 580/( 009 LEOFF-MEDICAL INS. RESERVE 225,000 112,500 112,500 112,500 500/( 011 RISK MANAGEMENT RESERVE FUND - - - - 00/( 012 CONTINGENCY RESERVE FUND 447,522 - 446,522 1,000 1000% 014 HISTORIC PRESERVATION GIFT FUND - - - - 00/( .-. C 016 BUILDING MAINTENANCE FUND 17,480 28,150 67,766 (50,286) 388% C N 017 MARSH RESTORATION & PRESERVATION FUND - 1,150 3,829 (3,829) 00/, N O 018 EDMONDS HOMELESSNESS RESPONSE FUND 200,000 - - 00/( U) 019 EDMONDS OPIOID RESPONSE FUND - - 25,112 (25,112) 00/( a 104 DRUG ENFORCEMENT FUND 167,650 1,080 1,529 166,121 10/( 111 STREET FUND 2,015,410 1,096,862 1,330,722 684,688 660/( C O 112 COMBINED STREET CONST/IMPROVE 12,366,800 1,744,795 6,092,682 6,274,118 490% rr N 117 MUNICIPAL ARTS ACQUIS. FUND 99,220 111,207 61,711 37,509 620/, 118 MEMORIAL STREET TREE - - - - 00/( 120 HOTEL/MOTEL TAX REVENUE FUND 84,400 67,562 70,876 13,524 840/, O t 121 EMPLOYEE PARKING PERMIT FUND 38,960 13,438 14,332 24,628 370/( Y L 122 YOUTH SCHOLARSHIP FUND 1,660 1,266 1,344 316 810/( O 123 TOURISM PROMOTIONAL FUND/ARTS 30,440 23,607 25,022 5,418 820/( d 125 REAL ESTATE EXCISE TAX 2 2,320,090 1,225,092 977,167 1,342,923 420/( .a 126 REAL ESTATE EXCISE TAX 1 2,302,980 1,218,626 1,001,589 1,301,391 430/c m 127 GIFTSCATALOGFUND 232,490 2,980,092 176,513 55,977 760/( N 130 CEMETERY MAINTENANCE/IMPROVEMT 150,960 165,828 143,170 7,790 O 950/( N 136 PARKS TRUST FUND 5,460 2,423 (7,497) 12,957 -1370/, t O 137 CEMETERY MAINTENANCE TRUST FD 51,500 31,845 34,527 16,973 670/( d 138 SISTER CITY COMMISSION 10,430 2,731 2,866 7,564 270/c 140 BUSINESS IMPROVEMENT DISTRICT 88,645 76,637 66,649 21,996 750/( V 141 AFFORDABLE AND SUPPORTIVE HOUSING FUND 65,000 41,142 39,100 25,900 C 600/( 10 C 142 EDMONDS RESCUE PLAN FUND 1,879,000 - 817,937 1,061,063 440/c IL 143 TREE FUND 215,100 296 3,960 211,140 20/( CV) O 231 2012 LT GO DEBT SERVICE FUND 309,800 41,009 28,458 281,343 9% C14 332 PARKS CAPITAL CONSTRUCTION FUND 2,713,902 1,750,731 1,255,836 1,458,066 460% 411 COMBINED UTILITY OPERATION - 103,955 89,005 (89,005) 00/( Q 421 WATER UTILITY FUND 11,950,114 6,696,004 7,260,061 4,690,053 610/, C 422 STORM UTILITY FUND 9,095,452 4,776,225 5,533,553 3,561,899 610/( 423 SEWER/WWTP UTILITY FUND 16,895,408 12,895,400 12,159,684 4,735,724 720/( v 424 BOND RESERVE FUND 1,991,860 593,173 586,520 1,405,340 290/c 511 EQUIPMENT RENTAL FUND 4,253,740 1,213,983 1,938,285 2,315,455 460/( Q 512 TECHNOLOGY RENTAL FUND 1,634,131 771,593 1,045,016 589,115 640/( $ 124,2199434 $ 6598949888 $ 7199009369 $ 529319,065 580% 19 Packet Pg. 24 I 5.1.b I Page 1 of 1 C ITY OF EDMO NDS EXPENDITURES BY FUND - SUMMARY Fund 2023 Amended 8/31/2022 8/31/2023 Amount No. Title Budget Expenditures Expenditures Remaining %Spent 001 GENERAL FUND $ 63,970,754 $ 30,838,095 $ 38,672,822 $ 25,297,932 60°/ 009 LEOFF-MEDICAL INS. RESERVE 367,140 190,793 228,623 138,517 62°/ Ol l 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 17,074 128,411 1,146,589 10% .-. C 017 MARSH RESTORATION & PRESERVATION FUND - - - - 0°/ O .N 018 EDMONDS HOMELESSNESS RESPONSE FUND - - - 0°/ N 3 019 EDMONDSOPIOID RESPONSE FUND - - - - 0°/ y 104 DRUG ENFORCEMENT FUND 45,800 6,291 32,485 13,315 71°/ Ill STREET FUND 2,746,179 1,442,986 1,852,073 894,106 67°/ 112 COMBINED STREET CONST/IMPROVE 11,273,695 1,724,086 5,898,243 5,375,452 52°/ C 117 MUNICIPAL ARTS ACQUIS. FUND 207,380 73,879 66,875 140,505 32°/ N 118 MEMORIAL STREET TREE - - - - 0°/ 120 HOTEL/MOTEL TAX REVENUE FUND 95,400 41,735 12,918 82,482 14°/ Cy 121 EMPLOYEE PARKING PERMIT FUND 26,880 - 825 26,055 3°/ Q O t 122 YOUTH SCHOLARSHIP FUND 3,000 322 75 2,925 3°/ Y 123 TOURISM PROMOTIONAL FUND/ARTS 28,500 533 11,950 16,550 L 42°/ O 125 REAL ESTATE EXCISE TAX 2 4,315,418 1,647,362 1,488,715 2,826,703 34°/ d 126 REAL ESTATE EXCISE TAX 1 2,227,383 634,710 426,840 1,800,543 19°/ .a 127 GIFTSCATALOGFUND 551,598 20,135 199,537 352,061 36°/ m 130 CEMETERY MAINTENANCE/IMPROVEMT 291,530 131,408 171,894 119,636 5 9 % N O 136 PARKSTRUST FUND 216,062 2,687 161,439 54,623 75°/ N 137 CEMETERY MAINTENANCE TRUST FUND 50,000 - - 50,000 0°/ t O 138 SISTER CITY COMMISSION 11,900 70 488 11,412 4% d 140 BUSINESS IMPROVEMENT DISTRICT 88,575 41,606 43,541 45,034 49°/ 01 is 142 EDMONDS RESCUE PLAN FUND 1,879,000 503,581 1,097,143 781,857 C 143 TREE FUND 239,800 - - 239,800 0°/ C 231 2012 LT GO DEBT SERVICE FUND 309,800 41,009 37,745 272,055 12°/ LL 332 PARKS CAPITAL CONSTRUCTION FUND 2,255,647 3,853,592 1,222,313 1,033,334 M 54°/ C14 421 WATER UTILITY FUND 11,949,308 4,374,091 6,202,286 5,747,022 52°/N,, N 422 STORM UTILITY FUND 8,525,900 3,124,310 3,489,601 5,036,299 41°/ 0 423 SEWER/WWTP UTILITY FUND 18,972,999 10,958,789 9,890,999 9,082,000 52 424 BOND RESERVE FUND 1,989,820 589,342 574,892 1,414,928 29°/ 511 EQUIPMENT RENTAL FUND 4,966,825 819,901 2,245,174 2,721,651 45°/ 4) 512 TECHNOLOGY RENTAL FUND 1,943,624 953,307 1,267,203 676,421 65°/ v R $ 140,855,817 $ 62,031,692 $ 75,425,111 $ 65,430,706 54°/ Q 20 Packet Pg. 25 5.1.b Page 1 of 3 CITY OF EDMO NDS REVENUES - GENERAL FUND 2023 Amended 8/31/2022 8/31/2023 Amount Tiitle Budget Revenues Revenues Remaining %Received TAXES: 1 REAL PERSONAL / PROPERTY TAX $ 11,327,000 $ 5,791,640 $ 5,868,802 $ 5,458,198 520N 2 EMSPROPERTYTAX 4,578,000 2,306,797 2,353,857 2,224,143 5101( 3 VOTED PROPERTY TAX 500 32 4 496 10N 4 LOCAL RETAIL SALES/USE TAX 1 11,900,000 7,348,080 7,597,605 4,302,395 640/( 5 NATURAL GAS USE TAX 7,600 12,868 10,133 (2,533) 1330/( 6 1/10 SALES TAX LOCAL CRIM JUST 1,150,000 674,591 689,255 460,745 600N 7 ELECTRIC UTILITY TAX 1,900,000 1,224,526 1,261,884 638,116 660/( 8 GASUTILITYTAX 845,000 590,667 680,160 164,840 800N 9 SOLID WASTE UTILITY TAX 384,000 239,562 274,405 109,595 710% C 10 WATERUTILITYTAX 1,000,234 575,820 633,755 366,479 630/( N 11 SEWERUTILITYTAX 942,960 555,978 673,646 269,314 710/( v 12 STORMWATER UTILITY TAX 621,458 423,053 439,078 182,380 710/( _N 13 T.V. CABLE UTILITY TAX 850,000 549,077 547,889 302,111 640/( 14 TELEPHONE UTILITY TAX 773,000 308,018 273,614 499,386 350/( 15 PULLTABSTAX 80,200 56,600 51,319 28,881 640/( �0 16 AMUSEMENT GAMES 350 - 22 328 60/( C 17 LEASEHOLD EXCISE TAX 326,000 230,182 236,093 89,907 720/( O 36,686,302 20,887,490 21,591,520 15,094,782 59% N LICENSES AND PERMITS: G1 18 FIRE PERMITS -SPECIAL USE 250 150 50 200 200/( 19 POLICE - FINGERPRINTING 700 25 630 70 900/( 20 VENDINGMACHINE/CONCESSION 94,500 52,135 58,125 36,375 620/( Op 21 FRANCHISE AGREEMENT-COMCAST702,700 523,616 521,826 180,874 740N N 22 FRANCHISE FEE-EDUCATION/GOVERNMENT 41,000 23,804 21,801 19,199 530N ` 23 FRANCHISE AGREEMENT-ZIPLY FIBER 100,600 35,890 28,403 72,197 280N O 24 OLYMPIC VIEW WATER DISTRICT FRANCHISE 450,000 291,170 331,302 118,698 740/( 25 GENERAL BUSINESS LICENSE 250,000 159,903 166,403 83,597 67% d 26 DEV SERV PERMIT SURCHARGE 80,000 68,735 69,945 10,055 870/( -a 27 RIGHT OF WAY FRANCHISE FEE 30,000 30,173 13,962 16,038 470/( 28 BUILDINGPERMITS 750,600 524,071 236,161 514,439 310/( M 29 FIRE PERMIT - - 5,600 (5,600) 00/( N 30 ENGINEERING PERMIT - - 57,062 (57,062) 00N N 31 ANIMAL LICENSES 24,000 12,287 13,631 10,369 570/( ... 32 STREET AND CURB PERMIT 75,000 69,291 21,134 53,866 280/( 33 STREET AND CURB PERMIT W/LEASEHOLD TAX - - 5,280 (5,280) 0% C. 34 OT R NON -BUS LIC/P ERMIT S 20,000 - 12,971 7,029 65% 35 SPECIAL EVENT REVIEW - 14,653 601 (601) 00N 2,619,350 1,805,903 1,564,887 1,054,463 60% v INTERGOVERNMENTAL: C 36 FEDERAL GRANTS- BUDGET ONLY 166,309 - - 166,309 00x C 37 DOJ 15-0404-0-1-754 - BULLET PROOF VEST 9,000 5,237 - 9,000 00/( E 38 WA SASSOC OF SHERIFFS TRAFFIC GRANT - 992 24,921 (24,921) 00N ch 39 HIGH VISIBILITY ENFORCEMENT 11,100 718 11,464 (364) 103% Np 40 CORONAVIRUS RELIEF FUND 1,494,875 - 79,960 1,414,915 501( cV 41 HOUSING TO INFRASTRUCTURE PROGRAM (CHIP) 1,361,011 - 1,361,011 00/( v 42 STATE GRANTS- BUDGET ONLY 244,645 - 244,645 00/( 43 STATE GRANT FROM OTHER JUDICIAL AGENCIES 161,004 - - 161,004 00N Q 44 WA STATE TRAFFIC COMM GRANT - 307 - - 00N 45 SCHOOL ZONE - - 1,337 (1,337) 00N 46 WASHINGTON STATE ARTS COMMISSION 34,000 2,000 3,000 31,000 9% O 47 PUD PRIVILEDGE TAX 210,500 214,277 219,274 (8,774) 1040N t 48 TRIAL COURT IMPROVEMENT 16,740 10,776 10,676 6,064 640/( R 49 CJ- POPULATION 13,070 10,942 11,529 1,541 880/( 50 CRIMINAL JUSTICE -SPECIAL PROGRAMS 50,600 38,827 40,722 9,878 800N Q 51 MARIJUANA EXCISE TAX DISTRIBUTION 125,000 49,330 51,603 73,397 410N 52 DUI - CITIES 4,500 3,497 1,540 2,960 340/( 53 FIRE INS PREMIUM TAX - 56,744 75,698 (75,698) 00/( 54 LIQUOR EXCISE TAX 325,000 221,986 230,427 94,573 710/( 55 LIQUOR BOARD PROFITS 343,200 166,379 164,299 178,901 480/( 56 MISCELLANEOUS INTERLOCAL REVENUE - 13,780 500 (500) 00N 57 FIRST RESPONDERS FLEX FUND 1,000 279 90 910 90N 58 DISCOVERY PROGRAMS TECHNOLOGY ACQ. 550 - - 550 00% 59 AWC - SEEK FUND - 3,108 - - 00N 4,572,104 799,178 927,038 3,645,066 200% 2022 Local Retail Sales/Use Taxrevenues are $249,525 higher than 2021 revenues Please also see pages pages 5 & 6. 21 Packet Pg. 26 5.1.b Page 2 of 3 CITY OF EDMO NDS REVENUES - GENERAL FUND 2023 Amended 8/31/2022 8/31/2023 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 CURREXPEN 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 ANIMAL CONTROL SHELTER 29 ZONING/SUBDIVISION FEE 30 BUILDINGPLAN REVIEW AND INSPECTION 31 FIRE PLAN REVIEW 32 PLANNINGREVIEW AND INSPECTION 33 S.E.P.A. REVIEW 34 ENGINEERING PLAN REVIEW AND INSPECTION 35 CRITICAL AREA STUDY 36 GYM AND WEIGHTROOM FEES 37 PROGRAM FEES 38 HOLIDAY MARKET REGISTRATION FEES 39 UPTOWN EVENINGMARKET FEES 40 WINTER MARKET FEES 41 EDMONDS COMMUNITY FAIR FEES 42 BIRD FEST REGISTRATION FEES 43 INTERFUND REIMBURSEMENT -CONTRACT SVCS $ 3,000 $ 3,669 $ 1,758 $ 1,242 590% 600 191 183 417 310% 6,000 441 - 6,000 00/( 150 1 - 150 00/( 300 - - 300 00/( 4,000 98 - 4,000 00/( 1,000 56 71 929 70% 50 128 178 (128) 3560/( 25,000 - - 25,000 00/( 100 51 32 68 320% 1,000 - - 1,000 00/( 190,000 158,135 35,031 154,969 180% 1,400 2,885 - 1,400 00/( 100,000 67,173 39,959 60,041 400/( 5,000 3,048 39,189 (34,189) 7840/( 30,000 5,201 7,482 22,518 250/( 14,000 3,169 1,684 12,316 120/( 210,970 105,485 170,569 40,401 810/( - 25 20 (20) 00/( 67,000 49,842 59,319 7,681 890% 1,050 702 - 1,050 00/( 38,000 12,578 7,049 30,951 190/( 3,000 431 172 2,828 60% 10,000 20,497 20,649 (10,649) 2060/( 3,500 721 647 2,853 180/( 1,077,500 486,524 611,546 465,954 570/( 5,000 2,356 4,262 738 850/( - - 100 (100) 00% 65,600 74,573 17,064 48,536 260/( 425,000 272,848 583,529 (158,529) 1370/( 4,000 10,951 16,379 (12,379) 4090% 500 110 57,895 (57,395) 115790/( 3,000 5,180 1,585 1,415 530/( - - 81,012 (81,012) 00/( 14,000 11,860 11,742 2,258 840/( 13,000 1,437 5,185 7,815 400/( 990,959 517,352 666,681 324,278 670/( 5,000 2,895 4,400 600 880/( 5,000 4,690 - 5,000 00/( 5,000 7,430 9,005 (4,005) 1800/( - - 560 (560) 00/( 1,000 645 - 1,000 00/( 3,427,765 1,998,554 2,481,508 946,257 720/( 6,757,444 3,831,933 4,936,444 1,821,000 73% Q 22 Packet Pg. 27 5.1.b Page 3 of 3 CITY OF EDMO NDS REVENUES - GENERAL FUND 2023 Amended 8/31/2022 8/31/2023 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 TRAFFIC CAMERA INFRACTIONS 5 CRT COST FEE CODE LEG ASSESSMENT (LGA) 6 CURRENT TRAFFIC INFRACTIONS 7 NON -TRAFFIC INFRACTION PENALTIES 8 OTHER INFRACTIONS'04 9 PARKING INFRACTION PENALTIES 10 PARKANDDISZONE 11 DWI PENALTIES 12 DUI - DP ACCT 13 CRIM CNV FEE DUI 14 DUI - DP FEE 15 CRIMINAL TRAFFIC MISDEMEANOR 8/03 16 CRIMINAL CONVICTION FEE CT 17 CRIM CONV FEE CT 18 OTHER NON-TRAF MISDEMEANOR PEN 19 OTHER NON TRAFFIC MISD. 8/03 20 COURT DV PENALTY ASSESSMENT 21 CRIMINAL CONVICTION FEE CN 22 CRIM CONV FEE CN 23 PUBLIC DEFENSE RECOUPMENT 24 BANK CHARGE FOR CONY. DEFENDANT 25 COURT COST RECOUPMENT 26 BUS. LICENSE PERMIT PENALTY 27 MISC FINES AND PENALTIES MISCELLANEOUS: 28 INVESTMENT INTEREST 29 INTEREST ON COUNTY TAXES 30 INTEREST - COURT COLLECTIONS 31 LOAN INTEREST 32 SPACE/FACILITIESRENTALS 33 BRACKET ROOM RENTAL 34 LEASESLONGTERM 35 DONATION/CONTRIBUTION 36 PARKSDONATIONS 37 BIRD FEST CONTRIBUTIONS 38 POLICE CONTRIBUTIONS FROM PRIV SOURCES 39 SALE OF JUNK/SALVAGE 40 SALES OF UNCLAIM PROPERTY 41 CONFISCATED AND FORFEITED PROPERTY 42 OTHERJUDGEMENT/SETTLEMENT 43 POLICE JUDGMENTS✓RESTITUTION 44 CASHIER'S OVERAGES/SHORTAGES 45 OTHER MISC REVENUES 46 SMALL OVERPAYMENT 47 NSF FEES - PARKS & REC 48 NSF FEES - MUNICIPAL COURT 49 NSF FEES - DEVEL SERV DEPT 50 L&I STAY AT WORK PROGRAM 51 US BANK REBATE TRANSFER IN: 52 INSURANCE RECOVERIES 53 INTERFUND TRANSFER FROM FUND 011 53 INTERFUND TRANSFER FROM FUND 136 52 TRANSFER FROM FUND 127 TO TAL GENERAL FUND REVENUE $ 2,000 $ 1,075 $ 1,403 $ 597 700/( 130,000 52,648 49,653 80,347 380% 18,000 2,904 1,155 16,845 60/( 50,000 - - 50,000 00/( 10,000 3,697 1,481 8,519 1501( - - 44,010 (44,010) 00/( 1,000 - 5,486 (4,486) 5490/( 1,500 807 1,322 179 880/( 125,000 22,782 7,030 117,970 60% 2,000 364 739 1,261 370/( 7,000 2,578 2,653 4,347 380/( 300 63 1 299 00/( 100 18 - 100 00% 1,500 1,078 1,033 467 690/( 25,000 7,145 5,419 19,581 220/( 2,000 1,050 863 1,137 430/( 700 103 8 692 10% 100 - 100 0 1000/( 12,000 14,673 241 11,759 20/( 800 27 100 700 130/( 1,000 234 91 909 90% 200 - - 200 00/( 6,000 2,058 1,088 4,912 180/( 4,000 2,649 3,451 549 860/( 1,000 295 909 91 910/( 1,000 75 - 1,000 00/( 150 - - 150 00/( 402,350 116,322 128,236 274,114 320% 321,240 163,284 116,892 204,348 360/( 10,960 6,295 42,201 (31,241) 3850/( 12,180 3,372 1,781 10,399 1501( 12,080 - - 12,080 00/( 175,000 116,554 123,353 51,647 700/( 2,100 - - 2,100 00/( 210,000 137,479 150,871 59,129 720/( 1,500 239 105 1,395 70/( 3,500 5,050 16,500 (13,000) 4710/( 1,500 2,015 1,500 - 1000/( 5,000 249 - 5,000 00/( 300 432 7,551 (7,251) 25170/( 3,800 2,825 3,055 745 800/( 2,000 - - 2,000 00/( 146,000 - 49,007 96,993 340/( 200 100 87 113 440/( - 734 14 (14) 00/( 5,000 5,185 21,932 (16,932) 4390/( 100 36 1 99 10/( 100 30 30 70 300/( 150 60 - 150 00/( - 30 34 (34) 00/( - - 8,702 (8,702) 00/( 8,500 8,541 7,494 1,006 880/( 921,210 452,508 551,109 370,101 600% 500,000 - 722,723 (222,723) 1450% 25,000 - - 25,000 00/4 75,070 - 72,066 3,004 960% - 13,150 - - 00% 600,070 13,150 794,789 (194,719) 1320% $ 52,558,830 $ 27,906,485 $ 30,494,023 $ 22,064,807 580% t Q 23 Packet Pg. 28 I 5.1.b I Page 1 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent GENERAL FUND EXPENDITURES (001) 1 SALARIES AND WAGES $ 23,174,368 $ 11,566,780 $ 14,226,353 $ 8,948,015 610% 2 OVERTIME 649,080 707,645 629,691 19,389 970/( 3 HOLIDAY BUY BACK 294,001 10,798 9,101 284,900 30% 4 BENEFITS 7,959,238 4,296,030 5,082,004 2,877,234 640% 5 UNIFORMS 130,851 62,059 100,881 29,970 770% 6 PENSION AND DISABILITY PAYMENTS 165,023 56,412 55,264 109,759 330% 7 SUPPLIES 770,473 303,731 316,673 453,800 410/( 8 SMALL EQUIPMENT 307,791 133,370 220,916 86,875 720/( 9 PROFESSIONAL SERVICES 21,173,217 9,848,837 12,524,553 8,648,664 590/( 10 COMMUNICATIONS 241,295 111,924 147,899 93,396 610% 11 TRAVEL 86,242 38,761 75,567 10,675 880/( 12 EXCISE TAXES 16,500 19,269 17,234 (734) 1040% 13 RENTAL/LEASE 2,869,548 1,337,275 1,795,429 1,074,119 630/( 14INSURANCE 625,650 503,160 625,650 (0) 1000/( 15 UTILITIES 663,800 368,306 438,587 225,213 660/( 16 REPAIRS&MAINTENANCE 673,900 291,805 543,256 130,644 810% 17 MISCELLANEOUS 673,640 361,502 393,700 279,940 580% 18 INTERGOVERNMENTAL PAYMENTS 50,000 50,000 50,000 - 1000/( 19 INTERFUND SUBSIDIES 1,341,982 542,500 986,522 355,460 740% 20 BUILDINGS 500,000 81,116 285,637 214,363 570/( 21 MACHINERY/EQUIPMENT 430,000 74,310 74,690 355,310 170/( 22 CONST RUCT IONS PROJECTS 800,565 - 7,480 793,085 10% 23 PRINCIPAL PAYMENT LEASES 50,000 - 50,000 00% 24 GENERAL OBLIGATION BOND PRINCIPAL 191,620 - - 191,620 00% 25 INTEREST ON LONG-TERM EXTERNAL DEBT 131,470 72,294 65,733 65,737 500% 26 OTHER INT EREST & DEBT SERVICE COSTS 500 212 - 500 00% 33,970,754 30,838,095 38,672,822 25,297,932 600/( LEOFF-MEDICAL INS. RESERVE(009) y 27 BENEFITS $ 206,650 $ 122,185 $ 115,248 $ 91,402 56% .a 28 PENSION AND DISABILITY PAYMENTS 152,990 54,419 113,375 39,615 740% 3 29 PROFESSIONAL SERVICES 7,000 13,704 - 7,000 00% m 30 MISCELLANEOUS 500 485 - 500 0% N 367,140 190,793 228,623 138,517 620c N RISK MANAGEMENT RESERVE FUND (011) `-' 31 MISCELLANEOUS $ 25,000 S $ - $ 25,000 00/( t 25,000 - 25,000 00% 0 CL HISTORIC PRESERVATION GIFTFUND (014) d 32 SUPPLIES $ 100 $ $ - $ 100 00/( 33 PROFESSIONAL SERVICES 200 - 200 00/( 34 MISCELLANEOUS 5,600 - 5,600 0% _ 5,900 - 5,900 00/( C BUILDING MAINTENANCEFUND (016) 35 PROFESSIONAL SERVICES $ 121,500 $ 450 $ - $ 121,500 LL 00/( M 36 REPAIR&MAINTENANCE 1,153,500 16,072 15,468 1,138,032 10/( N 37 BUILDINGS 112,943 (112,943) 00/( N 38 MACHINERY/EQUIPMENT 552 - 0% N 1,275,000 17,074 128,411 1,146,589 10% 3 DRUG ENFORCEMINTFUND (104) 39 SMALL EQUIPMENT $ $ $ 32,485 $ (32,485) 00/( Q 40 PROFESSIONAL SERVICES 45,000 - 45,000 00/( ++ 41 REPAIR/MAINT 800 - 800 00/( y 42 MACHINERY/EQUIPMENT 6,291 - 00/( 45,800 6,291 32,485 13,315 710/( v R Q 24 Packet Pg. 29 I 5.1.b I Page 2 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent STREETFUND (111) 1 SALARIES AND WAGES $ 1,154,552 $ 462,854 $ 710,426 $ 444,126 620/( 2 OVERTIME 38,400 24,130 21,302 17,098 550% 3 BENEFITS 440,911 226,436 290,447 150,464 660% 4 UNIFORMS 6,000 4,013 4,404 1,596 730% 5 SUPPLIES 263,000 146,628 133,415 129,585 5101( 6 SMALL EQUIPMENT 20,000 985 6,250 13,750 310% 7 PROFESSIONAL SERVICES 23,210 14,644 7,121 16,089 310% 8 COMMUNICATIONS 4,500 4,770 3,941 559 880/( 9 TRAVEL 1,000 - - 1,000 00/( 10 RENTAL/LEASE 304,730 194,613 204,616 100,114 670/( 11 INSURANCE 126,466 184,111 126,467 (1) 1000% 12 UTILITIES 273,730 153,717 158,990 114,740 580% 13 REPAIRS & MAINTENANCE 52,000 22,493 12,550 39,450 240/( 14 MISCELLANEOUS 8,000 3,408 6,642 1,358 830% 15 BUILDINGS 25,000 - - 25,000 00/( 16 OTHERIMPROVEMENTS - 165,353 (165,353) 00% 17 GENERAL OBLIGATION BOND PRINCIPAL 4,380 - - 4,380 00/( 18 INTEREST 300 185 149 151 500% COMBINED STREErCONST/IMPROVE(112) 19 PROFESSIONAL SERVICES 20 REPAIRS & MAINTENANCE 21 INTERFUND SUBSIDIES 22 LAND 23 CONSTRUCTION PROJECTS 24 INTERGOVERNMENTAL LOANS 25 INTEREST MUNICIPAL ARTS ACQUIS. FUND (117) 26 SUPPLIES 27 SMALL EQUIPMENT 28 PROFESSIONAL SERVICES 29 TRAVEL 30 RENTAL/LEASE 31 REPAIRS& MAINTENANCE 32 MISCELLANEOUS HO TEL/MO TEL TAX REVENUE FUND (120) 33 PROFESSIONAL SERVICES 34 MISCELLANEOUS 35 INTERFUND SUBSIDIES EMPLOYEE PARKING PERMIT FUND (121) 36 SUPPLIES 37 PROFESSIONAL SERVICES YOUTH SCHOLARSHIP FUND (122) 38 SUPPLIES 39 MISCELLANEOUS TO URIS M PRO MO 110 NAL FUND/ARTS (123) 40 PROFESSIONAL SERVICES $ 2,746,179 $ 1,442,986 $ 1,852,073 $ 894,106 670% $ 3,817,980 $ 870,330 $ 1,184,703 $ 2,633,277 310% 1,139,535 1,433 1,074,099 65,436 940/( 172,650 - 21,388 151,262 120% 270,000 69,759 - 270,000 00/( 5,818,580 709,132 3,563,125 2,255,455 610% 54,070 72,201 54,058 12 1000/( 880 1,230 869 11 990/( $ 11,273,695 $ 1,724,086 $ 5,898,243 $ 5,375,452 520/( $ 4,700 $ 930 $ 924 $ 3,776 200N 1,700 - - 1,700 00% 191,000 70,609 61,269 129,731 320% 80 - - 80 00/( 3,000 32 2,968 10% 300 - - 300 00/( 6,600 2,340 4,650 1,950 700% $ 207,380 $ 73,879 $ 66,875 $ 140,505 320% $ 90,400 $ 39,735 $ 10,918 $ 79,482 120% 1,000 - - 1,000 00/( 4,000 2,000 2,000 2,000 500% $ 95,400 $ 41,735 $ 12,918 $ 82,482 140/( $ 1,790 $ $ 825 $ 965 460% 25,090 - 25,090 00% $ 26,880 $ $ 825 $ 26,055 30% $ - $ 322 $ - $ - 00% 3,000 - 75 2,925 30% $ 3,000 $ 322 $ 75 $ 2,925 30% $ 28,500 $ 533 $ 11,950 $ 16,550 420% $ 28,500 $ 533 $ 11,950 $ 16,550 420% O CL d ll' is C R C LL ch tV O N N 3 Im M a C O E s v R .r a 25 Packet Pg. 30 I 5.1.b I Page 3 of 6 C TIY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %, Spent REAL ESTATE EXCISE TAX (125) 1 SUPPLIES $ - $ 13,609 $ - $ - 00% 2 PROFESSIONAL SERVICES 616,867 673,830 311,806 305,061 5101( 3 REPAIRS& MAINTENANCE 1,148,910 98,419 303,833 845,077 260% 4 INTERFUND SUBSIDIES 5,684 - - 5,684 00/( 5 LAND 200,000 - 77,708 122,292 390/( 6 CONSTRUCTION PROJECTS 2,343,957 861,504 795,368 1,548,589 340/( $ 4,315,418 $ 1,647,362 $ 1,488,715 $ 2,826,703 340/( 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 INT EREST & 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 RENTAL/LEASE 22 MISCELLANEOUS 23 INTERFUND SUBSIDIES C EVIEYERY MAINTEVANC F/IMPRO VEMEVT (130) 24 SALARIES AND WAGES 25 OVERTIME 26 BENEFIT S 27 UNIFORMS 28 SUPPLIES 29 SUPPLIES PURCHASED FOR INVENTORY/RESALE 30 PROFESSIONAL SERVICES 31 COMMUNICATIONS 32 TRAVEL 33 RENTAL/LEASE 34 UTILITIES 35 REPAIRS & MAINTENANCE 36 MISCELLANEOUS PARKS TRUSTFUND (136) 37 PROFESSIONAL SERVICES 38 INTERFUND SUBSIDIES C EVIEIERY MAINTENANCE TRUST FUND (137) 39 SMALL EQUIPMENT SISTER CITY COMMISSION (138) 40 SUPPLIES 41 TRAVEL 42 MISCELLANEOUS BUSINESS IMPROVOUIENTDISTRICTFUND (140) 43 SUPPLIES 44 PROFESSIONAL SERVICES 45 MISCELLANEOUS EDMONDS RESCUEPLAN FUND (142) 46 PROFESSIONAL SERVICES TREE FUND (143) 47 SUPPLIES 48 PROFESSIONAL SERVICES 49 LAND $ 292,065 $ 454,508 $ 247,766 $ 44,299 850% 578,340 16,897 26,392 551,948 501( 148,575 10,138 - 148,575 00% 100,000 - 100,000 - 1000/( 848,963 97,473 - 848,963 00/( 155,470 - - 155,470 00/( 103,970 55,314 51,982 51,988 5001( - 380 700 (700) 00% $ 2,227,383 $ 634,710 $ 426,840 $ 1,800,543 190% $ 241,455 $ $ 96,158 $ 145,297 400/( - 5,791 (5,791) 00X 89,033 43,015 46,018 480/( 146,000 6,985 42,552 103,448 290/( 500 - - 500 00/( 56,500 - 56,500 00/( 17,510 11,673 5,837 670/( 600 - 348 252 580/( - 13,150 - - 00/( $ 551,598 $ 20,135 $ 199,537 $ 352,061 360X $ 172,817 $ 68,800 $ 91,496 $ 81,321 530% 3,500 788 1,712 1,788 490/( 61,328 26,324 34,363 26,965 560/( 1,000 - - 1,000 00/( 7,000 1,986 3,803 3,197 540% 20,000 12,959 18,667 1,333 930/( 4,200 1,150 3,248 952 770N 1,700 1,148 1,152 548 680/( 500 - - 500 00/( 9,420 7,850 6,332 3,089 670/( 5,565 2,885 3,823 1,742 690/( 500 3,536 - 500 00X 4,000 3,981 7,299 (3,299) 1820/( $ 291,530 $ 131,408 $ 171,894 $ 119,636 590/( $ 43,842 $ 2,687 $ - $ 43,842 00% 172,220 - 161,439 10,781 940% $ 216,062 $ 2,687 $ 161,439 $ 54,623 750% $ 50,000 $ $ $ 50,000 00% $ 50,000 $ $ $ 50,000 00N $ 1,500 $ $ 24 $ 1,476 20/( 4,500 - 4,500 00/( 5,900 70 464 5,436 80% $ 11,900 $ 70 $ 488 $ 11,412 40% $ 4,091 $ 6,232 $ 7,212 $ (3,121) 1760/( 78,327 34,556 35,119 43,208 450% 6,157 817 1,210 4,947 200/( 88,575 41,606 43,541 45,034 490% $ 1,879,000 $ 503,581 $ 1,097,143 $ 781,857 580/( 1,879,000 503,581 1,097,143 781,857 580% 1,000 $ $ - $ 1,000 00/( 39,800 - 39,800 00% 199,000 - 199,000 0% 1-M O CL d is C C LL M N O N r.+ N a r-� C O E t v R r a Packet Pg. 31 1 I 5.1.b I Page 4 of 6 C ITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent 2012 LTGO DEBTSERVIC FUND (231) 1 GENERAL OBLIGATION BOND $ 235,000 $ - $ - $ 235,000 09 2 INTEREST 74,800 41,009 37,395 37,405 509 3 OTHER INTEREST & DEBT SERVICE COSTS - - 350 (350) 09 $ 309,800 $ 41,009 $ 37,745 $ 272,055 129 PARKS CONSTRUCTION FUND (332) 4 INTERFUND SUBSIDIES 5 PROFESSIONAL SERVICES 6 CONSTRUCTION PROJECTS 7 GENERAL OBLIGATION BONDS 8 INTEREST WATER FUND (421) 9 SALARIES AND WAGES 10 OVERTIME 11 BENEFIT S 12 UNIFORMS 13 SUPPLIES 14 WATER PURCHASED FOR RESALE 15 SUPPLIES PURCHASED FOR INVENTORY/RESALE 16 SMALL EQUIPMENT 17 PROFESSIONAL SERVICES 18 COMMUNICATIONS 19 TRAVEL 20 EXCISE TAXES 21 RENTAL/LEASE 22 INSURANCE 23 UTILITIES 24 REPAIRS& MAINTENANCE 25 MISCELLANEOUS 26 INTERFUND SUBSIDIES 27 BUILDINGS 28 MACHINERY/EQUIPMENT 29 CONSTRUCTION PROJECTS 30 GENERAL OBLIGATION BONDS 31 REVENUE BONDS 32 INTERGOVERNMENTAL LOANS 33 INTEREST 34 OTHER INTEREST & DEBT SERVICE COSTS S TO RM FUND (422) 35 SALARIES AND WAGES 36 OVERTIME 37 BENEFITS 38 UNIFORMS 39 SUPPLIES 40 SMALL EQUIPMENT 41 PROFESSIONAL SERVICES 42 COMMUNICATIONS 43 TRAVEL 44 EXCISE TAXES 45 RENTAL/LEASE 46 INSURANCE 47 UTILITES 48 REPAIR & MAINTENANCE 49 MISCELLANEOUS 50 INTERFUND SUBSIDIES 51 LAND 52 BUILDINGS 53 MACHINERY/EQUIPMENT 54 CONSTRUCTION PROJECTS 55 GENERAL OBLIGATION BONDS 56 REVENUE BONDS 57 INTERGOVERNMENTAL LOANS 58 INTEREST 59 OTHER INTEREST & DEBT SERVICE COSTS $ - $ 62,656 $ - $ - 09 1,352,620 413,383 141,867 1,210,753 109 805,377 3,351,494 1,056,621 (251,244) 1319 .•. 50,000 - - 50,000 09 47,650 26,059 23,825 23,825 509 $ 2,255,647 $ 3,853,592 $ 1,222,313 $ 1,033,334 549 U) $ 1,205,783 $ 500,022 $ 668,112 $ 537,671 t� 559 N 24,000 10,723 13,289 10,711 559 440,577 212,705 263,493 177,084 609 4,000 3,008 3,614 386 9M M 150,000 100,107 100,766 49,234 679 N 2,398,000 1,117,721 1,259,858 1,138,142 539 C 180,000 103,147 104,485 75,515 589 N 13,500 3,749 6,730 6,770 5M 3 2,256,928 605,340 952,559 1,304,369 429 CY 35,000 22,132 23,236 11,764 669 200 - 462 (262) 2319 C 1,696,934 878,124 963,171 733,763 579 N 202,496 100,333 126,202 76,294 629 ` 225,380 122,359 225,379 1 1009 O 35,000 20,920 21,767 13,233 629 71,130 23,457 19,972 51,158 289 123,600 127,434 165,003 (41,403) 13M 01 646,370 194,533 189,888 456,482 299 3 12,500 - - 12,500 09 M 10,000 10,044 5,943 4,057 599 N 1,670,000 87,212 969,308 700,692 589 C 2,940 - - 2,940 09 333,830 - - 333,830 M -t 25,840 25,839 25,839 1 1009 O 185,300 104,805 92,769 92,531 509 y 378 444 (444) 09 $ 11,949,308 $ 4,374,091 $ 6,202,286 $ 5,747,022 529 jp $ 1,113,757 $ 506,826 $ 735,908 $ 377,850 669 26,000 10,792 8,865 17,135 349 398,973 211,243 261,965 137,008 669 LL 6,500 5,543 4,928 1,572 769 N 46,000 30,970 22,233 23,767 489 N 4,000 985 1,713 2,287 4M +� 3,143,445 977,092 1,056,007 2,087,438 349 3,200 4,246 4,272 (1,072) 13M I 4,300 1,982 - 4,300 M Q 499,658 483,110 501,645 (1,987) 1009; 307,168 175,270 195,513 111,655 649 31,679 82,335 31,680 (1) 1009 10,500 9,726 10,075 425 960 t 189,130 12,663 11,602 177,528 69 232,300 131,483 155,847 76,453 679 Q 283,341 74,810 72,689 210,652 260 680,000 - - 680,000 M 25,000 - - 25,000 M 56,474 - 12,536 43,938 229 1,031,645 281,617 285,112 746,533 289 107,290 - - 107,290 M 160,870 - - 160,870 09 61,600 61,590 61,590 10 1009 103,070 61,859 55,231 47,839 549 165 193 (193) M $ 8,525,900 $ 3,124,310 $ 3,489,601 $ 5,036,299 419 27 Packet Pg. 32 I 5.1.b I Page 5 of 6 CITY OF EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent SEWER FUND (423) 1 SALARIES AND WAGES $ 3,159,792 $ 1,201,082 $ 2,047,088 $ 1,112,704 6M 2 OVERTIME 130,000 87,349 103,632 26,368 80° 3 BENEFITS 1,043,665 481,116 723,222 320,443 69° 4 UNIFORMS 11,500 7,815 8,348 3,152 7M 5 SUPPLIES 453,000 181,945 312,294 140,706 699 6 FUEL CONSUMED 20,000 - - 20,000 V 7 SUPPLIES PURCHASED FOR INV OR RESALE 5,000 - - 5,000 09 8 SMALL EQUIPMENT 83,900 104,243 8,642 75,258 100 9 PROFESSIONAL SERVICES 2,587,949 1,600,151 1,792,655 795,294 694 10 COMMUNICATIONS 48,000 31,615 31,534 16,466 66° 11 TRAVEL 5,000 - 144 4,856 34 12 EXCISE TAXES 1,026,360 703,057 823,454 202,906 8V 13 RENTAL/LEASE 344,978 212,297 212,753 132,225 629 14 INSURANCE 360,663 203,936 364,070 (3,407) 1019 15 UTILITIES 3,607,060 1,650,769 2,223,615 1,383,445 62° 16 REPAIR & MAINTENANCE 728,630 726,075 328,325 400,305 459 17 MISCELLANEOUS 138,350 172,681 237,006 (98,656) 171° 18 INTERFUND SUBSIDIES 1,588,089 1,175,403 326,829 1,261,260 219 19 BUILDINGS 12,500 - - 12,500 00 20 MACHINERY/EQUIPMENT - 68,126 - - 09 21 CONSTRUCTION PROJECTS 2,976,163 1,989,039 61,040 2,915,123 29 22 GENERAL OBLIGATION BONDS 129,820 - - 129,820 09 23 REVENUE BONDS 55,310 - - 55,310 00 24 INTERGOVERNMENTAL LOANS 104,000 174,591 103,986 14 10V 25 INTEREST 353,270 182,515 177,781 175,489 5V 26 OTHER INTEREST & DEBT SERVICE COSTS - 4,985 4,582 (4,582) V $ 18,972,999 $ 10,958,789 $ 9,890,999 $ 9,082,000 52° BOND RESERVE FUND (424) 27 REVENUE BONDS $ 840,010 $ - $ - $ 840,010 09 28 INTEREST 1,149,810 589,342 574,892 574,918 509 $ 1,989,820 $ 589,342 $ 574,892 $ 1,414,928 299 28 Packet Pg. 33 5.1.b Page 6 of 6 C ITY O F EDMO NDS EXPENDITURES BY FUND - DETAIL 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent EQ UIPMENT RENTAL FUND (511) 1 SALARIES AND WAGES $ 395,171 $ 195,698 $ 261,308 $ 133,863 669 2 OVERTIME 2,000 222 878 1,122 449 3 BENEFITS 132,345 67,420 84,833 47,512 649 4 UNIFORMS 1,500 934 1,253 247 849 5 SUPPLIES 149,120 65,962 78,355 70,765 5M 6 FUEL CONSUMED 1,000 - - 1,000 M 7 SUPPLIES PURCHASED FOR INVENTORY/RESALE 458,880 245,831 194,092 264,788 429 8 SMALL EQUIPMENT 58,000 3,264 2,850 55,150 59 9 PROFESSIONAL SERVICES 46,750 999 1,023 45,727 29 10 COMMUNICATIONS 3,000 1,428 1,938 1,062 659 11 TRAVEL 1,000 - 1,870 (870) 1879 12 RENTAL/LEASE 17,470 6,930 11,170 6,300 649 13 INSURANCE 50,178 51,903 52,373 (2,195) 1049 14 UTILITIES 14,000 12,863 14,291 (291) 1029 15 REPAIRS& MAINTENANCE 60,000 34,785 39,914 20,086 679 16 MISCELLANEOUS 12,000 5,976 8,170 3,830 689 17 MACHINERY/EQUIPMENT 3,564,411 125,685 1,490,854 2,073,557 429 $ 4,966,825 $ 819,901 $ 2,245,174 $ 2,721,651 459 TECHNOLOGY RENTAL FUND (512) 18 SALARIES AND WAGES $ 657,771 $ 212,735 $ 376,510 $ 281,261 579 19 OVERTIME 2,000 880 225 1,775 119 20 BENEFITS 191,954 81,260 136,359 55,595 719 21 SUPPLIES 5,000 5,389 4,862 138 979 22 SMALL EQUIPMENT 181,800 32,987 81,813 99,987 459 23 PROFESSIONAL SERVICES 61,860 29,809 31,832 30,028 510 24 COMMUNICATIONS 58,770 47,356 51,602 7,168 889 25 TRAVEL 1,500 - - 1,500 09 26 RENTAL/LEASE 4,640 2,973 1,094 3,546 249 27 REPAIRS& MAINTENANCE 666,729 286,312 559,700 107,029 849 28 MISCELLANEOUS 55,600 1,719 10,147 45,453 189 29 MACHINERY/EQUIPMENT 56,000 251,887 13,060 42,940 239 $ 1,943,624 $ 953,307 $ 1,267,203 $ 676,421 659 TOTAL EXPENDITURE ALL FUNDS $ 140,855,817 $ 62,031,692 $ 75,425,111 $ 65,430,706 549 t O CL d R C R C LL ch N O N N Im 7 Q C O s R Q 29 Packet Pg. 34 5.1.b Page 1 of 1 CITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN SUMMARY 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent 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 $ 486,719 $ 215,904 $ 283,971 $ 202,748 58% 505,239 238,242 259,788 245,451 51 % 1,297,746 620,253 605,627 692,119 47% 1,827,709 799,325 980,820 846,889 54% 2,502,670 1,416,372 1,715,648 787,022 69% 1,161,780 622,645 559,282 602,498 48% 18,488,589 9,457,188 12,600,704 5,887,885 68% 14,826,373 8,195,392 9,201,003 5,625,370 62% 230,681 56,281 69,152 161,529 30% 1,312,555 362,340 872,904 439,651 67% 5,246,507 2,289,744 2,566,672 2,679,835 49% 324,650 87,457 168,503 156,147 52% 6,598,994 3,003,579 3,766,096 2,832,898 57% 4,283,090 2,015,568 2,613,096 1,669,994 61 % 4,877,452 1,457,804 2,409,557 2,467,895 49% $ 63,970,754 $ 30,838,095 $ 38,672,822 $ 25,297,932 60% CITY OF EDMO NDS EXPENDITURES - UTILITY- BY FUND IN SUMMARY 2023 Amended 8/31/2022 8/31/2023 Amount Budget Expenditures Expenditures Remaining %Spent WATER UTILITY FUND $ 11,949,308 $ 4,374,091 $ 6,202,286 $ 5,747,022 STORM UTILITY FUND 8,525,900 3,124,310 3,489,601 5,036,299 SEWER/WWTP UTILITY FUND 18,972,999 10,958,789 9,890,999 9,082,000 BOND RESERVE FUND 1,989,820 589,342 574,892 1,414,928 $ 41,438,027 $ 19,046,533 $ 20,157,779 $ 21,280,248 t O CL d R C 52% M C 41% LL M 04 52% O N 29% �w 49% Q r C O t v is r a 30 Packet Pg. 35 I 5.1.b I Page 1 of 2 CITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL Title 2023 Amended Budget 8/31/2022 Expenditures 8/31/2023 Expenditures Amount Remaining %Spent CITY COUNCIL SALARIES AND WAGES $ 219,276 $ 122,982 $ 148,536 $ 70,740 68% BENEFITS 103,845 61,298 69,158 34,687 67% SUPPLIES 11,000 1,498 1,290 9,710 12% SERVICES 152,598 30,127 64,987 87,611 43% $ 486,719 $ 215,904 $ 283,971 $ 202,748 58% OFFICEOFMAYOR SALARIES AND WAGES $ 282,988 $ 165,708 $ 173,620 $ 109,368 61% BENEFITS 90,087 56,969 59,588 30,499 66% SUPPLIES 1,500 1,732 1,118 382 75% SERVICES 130,664 13,834 25,462 105,202 19% $ 505,239 $ 238,242 $ 259,788 S 245,451 51% HUMAN RESOURCES SALARIES AND WAGES $ 782,258 $ 315,329 $ 341,118 $ 441,140 44% BENEFITS 243,609 106,562 128,059 115,550 53% SUPPLIES 13,600 809 2,318 11,282 17% SERVICES 258,279 197,553 134,132 124,147 52% $ 1,297,746 $ 620,253 $ 605,627 $ 692,119 47% MUNIC IPAL C O URT SALARIES AND WAGES $ 1,234,740 $ 510,169 $ 655,795 $ 578,945 53% BENEFITS 345,764 159,108 202,655 143,109 59% SUPPLIES 23,048 7,305 8,083 14,965 35% SERVICES 224,157 122,743 114,288 109,869 51% $ 1,827,709 $ 799,325 $ 980,820 $ 846,889 54% ADMINISTRATIVE SERVICES SALARIES AND WAGES $ 1,601,894 $ 870,896 $ 1,113,280 $ 488,614 69% BENEFITS 465,703 273,609 318,237 147,466 68% SUPPLIES 13,000 7,761 5,566 7,434 43% SERVICES 422,073 264,107 278,565 143,508 66% $ 2,502,670 $ 1,416,372 $ 1,715,648 $ 787,022 69% C ITY ATTORNEY SERVICES $ 1,161,780 $ 622,645 $ 559,282 $ 602,498 48% $ 1,161,780 $ 622,645 $ 559,282 $ 602,498 48% NON -DEPARTMENTAL SALARIES AND WAGES $ 101,750 $ - $ $ 101,750 0% BENEFITS 239,583 87,443 85,261 154,322 36% SUPPLIES 5,000 - - 5,000 0% SERVICES 16,426,684 8,704,740 11,413,187 5,013,497 69% INTERFUND SUBSIDIES 1,391,982 592,500 1,036,522 355,460 74% DEBT SERVICE - PRINCIPAL 191,620 - - 191,620 0% DEBT SERVICE - INTEREST' 131,970 72,505 65,733 66,237 50% $ 18,488,589 $ 9,457,188 $ 12,600,704 $ 5,887,885 68% PO LIC E S ERVIC ES SALARIES AND WAGES $ 9,366,760 $ 5,255,688 $ 5,707,500 $ 3,659,260 61% BENEFITS 3,280,628 1,865,396 2,041,304 1,239,324 62% SUPPLIES 342,941 168,530 190,497 152,444 56% SERVICES 1,786,044 837,076 1,234,328 551,716 69% DEBT SERVICE - PRINCIPAL 50,000 - - 50,000 0% MACHINERY/EQUIPMENT - 68,702 27,373 (27,373) 0% $ 14,826,373 $ 8,195,392 $ 9,201,003 $ 5,625,370 62% S ATELLITE O FFIC E SALARIES AND WAGES $ 38,537 $ 1,449 $ 29,120 $ 9,417 76% BENEFITS 7,298 274 15,970 (8,672) 219% SUPPLIES 17,000 11,057 226 16,774 1% SERVICES 167,846 43,501 23,836 144,010 14% $ 230,681 $ 56,281 $ 69,152 $ 161,529 30% O CL d d' is C R C LL M N O N N Im M Q r-� C O E t t) R .r a 31 Packet Pg. 36 1 Page 2 of 2 CITY OF EDMO NDS EXPENDITURES - GENERAL FUND - BY DEPARTMENT IN DETAIL 2023 Amended 8/31/2022 8/31/2023 Amount Title Budget Expenditures Expenditures Remaining %Spent C O MMUNITY S ERVIC ES /EC O N DEV. SALARIES AND WAGES $ 613,413 $ 153,446 $ 438,310 $ 175,103 71% BENEFITS 165,783 47,078 110,982 54,801 67% SUPPLIES 4,075 269 1,144 2,931 28% SERVICES 529,284 161,548 322,468 206,816 61% $ 1,312,555 $ 362,340 $ 872,904 $ 439,651 67% PLANNING & DEVELOPMENT SALARIES AND WAGES $ 2,392,581 $ 1,341,586 $ 1,561,397 $ 831,184 65% BENEFITS 779,673 467,779 568,951 210,722 73% SUPPLIES 23,400 5,168 9,468 13,932 40% SERVICES 2,050,853 475,210 426,856 1,623,997 21% $ 5,246,507 $ 2,289,744 $ 2,566,672 $ 2,679,835 49% HUMAN SERVICES PROGRAM SALARIES AND WAGES $ 101,849 $ 47,094 $ 74,320 $ 27,529 73% BENEFITS 29,301 13,042 23,374 5,927 80% SUPPLIES 15,000 1,207 3,608 11,392 24% SERVICES 178,500 20,506 67,201 111,299 38% MACHINERY/EQUIPMENT - 5,608 - - 0% 324,650 87,457 168,503 156,147 . 2 PARKS & REC REATIO N SALARIES AND WAGES $ 3,288,534 $ 1,606,600 $ 1,985,926 $ 1,302,608 60% BENEFITS 1,078,818 548,972 684,632 394,186 63% SUPPLIES 468,900 175,233 234,572 234,328 50% SERVICES 1,672,742 672,773 817,913 854,829 49% MACHINERY/EQUIPMENT 90,000 43,052 46,948 48% $ 6,598,994 $ 3,003,579 $ 3,766,096 $ 2,832,898 57% PUBLIC WORKS ADMINISTRATION SALARIES AND WAGES $ 409,900 $ 86,100 $ 278,671 $ 131,229 68% BENEFITS 150,075 41,644 84,312 65,763 56% SUPPLIES 9,600 3,019 7,622 1,978 79% SERVICES 98,006 55,240 58,335 39,671 60% $ 667,581 $ 186,004 $ 428,940 $ 238,641 64% FACILITIES MAINTENANCE SALARIES AND WAGES 1,287,006 580,466 868,055 418,951 67% BENEFITS 462,021 233,831 326,281 135,740 71% SUPPLIES 128,000 52,618 69,154.33 58,846 54% SERVICES 1,359,860 509,772 848,685 511,175 62% MACHINERY/EQUIPMENT 1,640,565 81,116 297,381 1,343,184 18% $ 4,877,452 $ 1,457,804 $ 2,409,557 $ 2,467,895 49% ENGINEERING SALARIES AND WAGES $ 2,395,963 $ 1,227,710 $ 1,489,499 $ 906,464 62% BENEFITS 812,924 451,495 519,387 293,537 64% SUPPLIES 2,200 896 2,921 (721) 133% SERVICES 404,422 149,464 172,350 232,072 43% $ 3,615,509 $ 1,829,565 $ 2,184,156 $ 1,431,353 60% TOTAL GENERAL FUND EXPENDITURES $ 63,970,754 $ 30,838,095 $ 38,672,822 $ 25,297,932 60% 1-M O CL d d' is C R C LL M N O N rr to a r-� C 4) t t) R .r r.+ a 32 Packet Pg. 37 5.1.b GENERAL FUND OVERVIEW BALANCES CHANGE IN FUND BALANCES GENERAL FUND ---- ACTUAL ---- ---- ACTUAL ---- & SUBFUNDS 8/31 /2023 8/31 /2023 Q2 YTD Fund Balance Cash Balance 001-General Fund * $ 3,724,156 $ 957,244 $ 2,173,753 $ (8,178,799: o 009-Leoff-Medical Ins. Reserve 100,741 116,693 51,932 (116,123, 'y 011-Risk Management Reserve Fund 25,000 25,000 - - 012-ContingencyReserve Fund 2,228,672 2,228,672 446,522 446,522 G 014-Historic Preservation Gift Fund 11,701 11,701 - - c 016-Building Maintenance 4,235,959 4,379,235 25,839 (60,645: 017 - Marsh Restoration & Preservation 853,595 853,595 - 3,829 0 018 - Edmonds Homelessness Response Fd 200,000 200,000 m 019 - Opioid Response Fund 25,112 25,112 - 25,112 CY Total General Fund & Subfunds $ 11,404,934 $ 8,797,251 $ 2,698,047 $ (7,880,104" ii 0 L *$8,914,686 of the fund balance in Fund 001 added to the $2,228,672 balance in Fund 012, represent the required 0 20% operating reserve. d a� There are no interfund loans outstanding at this time. n m N O N GOVERNMENTAL FUNDS OVERVIEW o CL LL BALANCES CHANGE IN FUND BALANCES C14 0 ---- ACTUAL ---- ---- ACTUAL ---- N N GOVERNMENTAL FUNDS 8/31 /2023 8/31 /2023 Q2 YTD Fund Balance Cash Balance Q General Fund & Subfunds $ 11,404,934 $ 8,797,251 $ 2,698,047 $ (7,880,104; E Special Revenue 15,739,992 21,098,737 582,341 (610,842: Capital Projects - Fund 332 241,205 162,488 (241,319) 33,523 ca Q Total Governmental Funds $ 27,386,132 $ 30,058,477 $ 3,039,069 $ (8,457,423: *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. 38 5.1.b SPECIAL REVENUE FUNDS OVERVIEW BALANCES CHANGE IN FUND BALANCES GOVERNMENTAL ---- ACTUAL ---- ---- ACTUAL ---- SPECIAL REVENUE 8/31/2023 8/31/2023 Q2 YTD Fund Balance Cash Balance 104 - Drug Enforcement Fund $ 36,614 $ 39,753 $ 1,041 $ (30,956 _ 111 - Street Fund (112,667) (55,462) 221,483 (521,351 0 112 - Combined Street Const/Improve 2,633,944 (128,753) 123,175 194,439 3 117 - Municipal Arts Acquis. Fund 629,724 659,927 (20,569) (5,164 0 120 - Hotel/Motel Tax Revenue Fund 152,823 142,296 17,303 57,958 G 121 - Employee Parking Permit Fund 88,539 92,019 2,640 13,507 -0 122 -Youth Scholarship Fund 16,477 17,183 122 1,269 123-Tourism Promotional Fund/Arts 128,243 128,216 2,222 13,072 0 125 - Real Estate Tax 2 2,781,009 2,868,489 (579,947) (511,548 126 - Real Estate Excise Tax 1 * 4,600,270 4,708,475 215,137 574,749 3 127 - Gifts Catalog Fund 3,040,769 3,182,872 (70,805) (23,024 Cy 130- Cemetery Mai ntenance/Improvement 239,445 252,299 (1,267) (28,724 0 136 - Parks Trust Fund (7,497) - - (168,935; N 137 - Cemetery Maintenance Trust Fund 1,137,827 1,189,000 14,086 34,527 Y 138- Sister CityCommission 22,272 23,194 2,465 2,377 0 140 -Business Improvement Disrict 62,892 62,892 (5,156) 23,108 d 141 -Affordable and Supportive Housing I'd 273,666 266,027 - 39,100 142 - Edmonds Rescue Plan Fund (214,618) 7,409,555 658,594 (279,206 m 143 - Tree Fund 230,260 240,756 1,816 3,960 N Total Special Revenue $ 15,739,992 $ 21,098,737 $ 582,341 $ (610,842 N *$200,000 of the fund balance in Fund 126 has been reserved for Marsh Restoration Funding, as well as $1,000,000 for the purchase of Open Space. 00 a� ENTERPRISE FUNDS OVERVIEW U_ M N BALANCES CHANGE IN FUND BALANCES O N ENTERPRISE ---- ACTUAL ---- ---- ACTUAL ---- FUNDS 8/31/2023 8/31/2023 Q2 YTD Q Fund Balance Cash Balance c m 421 -Water Utility Fund $ 32,946,398 $ 9,775,142 $ 1,293,400 $ 1,057,775 E 422 -Storm Utility Fund 20,115,684 6,859,768 2,832,824 2,043,951 t 0 423 - Sewer/WWTP Utility Fund 65,268,019 17,210,094 7,527,964 2,268,685 Q 424 - Bond Reserve Fund 855,589 855,589 5,357 11,628 411 -Combined Utility Operation 89,005 132,091 30,565 89,005 Total Enterprise Funds $ 119,274,695 $ 34,832,685 $ 11,690,109 $ 5,471,044 *$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. 39 5.1.b SUMMARY OVERVIEW BALANCES CHANGE IN FUND BALANCES ---- ACTUAL ---- ---- ACTUAL ---- CITY-WIDE 8/31/2023 8/31/2023 Q2 YTD Fund Balance Cash Balance Governmental Funds $ 27,386,132 $ 30,058,477 $ 3,039,069 $ (8,457,423; _ Enterprise Funds 119,274,695 34,832,685 11,690,109 5,4-11,044 0 'N Internal Services Fund 9,829,228 5,440,913 129,436 (529,075 3 Total City-wide Total $ 156,490,055 $ 70,332,074 $ 14,858,613 $ (3,515,455 c ca c O INTERNAL SERVICE FUNDS OVERVIEW N 3 a 0 L O BALANCES CHANGE IN FUND BALANCES rt+ a� ---- ACTUAL ---- ---- ACTUAL ---- m INTERNAL SERVICE FUNDS 8/31/2023 8/31/2023 Q2 YTD N Fund Balance Cash Balance — o v 1r 511 -Equipment Rental Fund $ 9,088,912 $ 5,009,232 $ 152,945 $ (306,889 a 512-Technology Rental Fund 740,316 431,681 (23,509) (222,186 aD Total Internal Service Funds $ 9,829,228 $ 5,440,913 $ 129,436 $ (529,075 _ �a c ii M N O N N 3 3 Q C d E t C1 �4 r.+ 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. 40 5.1.c GENERAL FUND CHANGES IN FUND BALANCE 2022 2022 2023 2018 2019 2020 2021 Preliminary (Jan -June) (Jan -June) Beginning Fund Balance 10,273,342 11,233,279 15,552,188 13,868,744 15,915,322 15,915,322 11,902,955 Revenue Taxes 30,755,578 30,846,665 30,738,452 32,979,704 34,209,103 17,556,491 18,065,830 Licenses and permits 2,401,855 2,299,972 2,276,861 2,453,186 2,560,170 1,340,224 1,144,640 Intergovernmental 1,014,434 1,008,432 1,633,633 1,608,646 1,367,288 481,432 780,861 Charges for services 5,810,961 6,419,836 5,412,044 5,913,557 3,020,623 2,068,027 3,296,454 Fines and forfeitures 616,783 496,093 287,693 272,302 182,881 65,865 91,556 Interest earnings 273,228 573,806 265,627 122,257 (34,099) 139,808 102,447 Miscellaneous 931,495 587,882 322,816 347,519 368,221 188,450 290,442 Operating Revenues Nonoperatine Revenues Transfers in Debt proceeds Sale of capital assets Contracts Insurance recoveries Total Revenue Expenditures General government Public safety Transportation Economic environment Mental and physical health Culture and recreation Debt service Capital outlay Operating Expenditures Nonoperating Expenditures Leases Transfers out Debt refunding Total Expenditures Prior Period Adjustments Change in position 41,804,334 42,232,686 40,937,126 43,697,171 41,674,187 21,840,298 23,772,230 75,884 4,793,650 1,535,800 388,547 26,300 13,150 - 5,273 - - - - - - - - 482,709 15,570 - 16,977 - 257,520 - - 41,901,061 47,026,336 42,489,903 44,085,718 42,440,716 21,853,448 23,772,230 10,288,694 11,565,563 12,514,526 11,866,885 9,821,698 6,399,056 7,940,079 22,585,212 23,036,185 23,759,212 22,765,260 26,107,688 13,083,358 15,246,261 4,779 5,012 5,012 2,088 - - - 1,460,763 1,562,702 1,675,334 1,991,624 2,245,945 1,045,179 1,332,364 178,859 164,888 147,957 84,642 38,676 31,392 6,836 4,331,806 4,158,397 3,732,644 4,341,658 4,926,663 2,169,413 2,813,364 197,694 197,967 296,624 60,228 321,989 72,505 65,733 93,105 110,935 835,048 268,885 1,605,828 141,537 312,863 39,140,912 40,801,649 42,966,358 41,381,270 45,068,487 22,942,441 27,717,500 - - - - 69,534 - - 1,800,212 1,905,778 1,206,990 657,870 1,315,062 542,500 986,522 40,941,124 42,707,427 44,173,348 42,039,140 46,453,083 23,484,941 28,704,022 959,937 4,318,909 (1,683,445) 2,046,578 (4,012,367) (1,631,493) (4,931,793) Ending Fund Balance 11,233,279 15,552,188 13,868,744 15,915,322 11,902,955 14,283,830 6,971,163 R:\Finance Committee\2023\Jan-June 2023 P&L 7/27/2023 Packet Pg. 41 5.1.d 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,SCOTT PMSEY Packet Pg. 42 5.1.d FILED WITH THE CITY CLERK: June 28, 2019 PASSED BY THE CITY COUNCIL: July 2, 2019 RESOLUTION NO. 1433 Packet Pg. 43 5.1.d City of Edmonds Fund Balance Reserve Policy July 2019 Q Packet Pg. 44 5.1.d Table of Contents DRAFT........................................................................................................ Error! Bookmark not defined. ARTICLEI INTRODUCTION..................................................................................................................... 5 ARTICLE II CRITERIA FOR ESTABLISHING APPROPRIATE FUND BALANCE RESERVE LEVELS......................................................................................................................................................... 6 Section1. Volatility.................................................................................................................. Section2. Operating Fund Size................................................................................................ Section 3. Purpose of Fund Balance Reserves.......................................................................... Section4. Bond Ratings............................................................................................................ ARTICLE III COMMITTED GENERAL FUND BALANCE RESERVES POLICY ................ Section 1. Establishment and Purpose of Operating General Fund Operating Reserve ........... ARTICLE IV CONTINGENT RESERVE FUND BALANCE POLICY .................................... ARTICLE V ANNUAL FUND BALANCE TYPES - STATUS REPORT ................................ ARTICLE VI FIVE-YEAR RESERVE RATE REVIEW............................................................ ARTICLE VII DEVIATIONS FROM POLICY.......................................................................... ................. 6 ................. 6 .................6 ................. 6 ................. 6 ................. 6 ................. 7 ................. 9 ................. 9 ................. 9 ARTICLEVIII DEFINITIONS.....................................................................................................................9 ARTICLEIX EFFECTIVE DATE..............................................................................................................12 Page 4 Packet Pg. 45 5.1.d 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. 46 5.1.d 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 Operating 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. 47 5.1.d 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. 48 5.1.d 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 Operating 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. 49 5.1.d 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. 50 5.1.d 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 I 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. Nonspendable 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. 51 5.1.d 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. 52 5.1.d 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. 53 5.2 City Council Agenda Item Meeting Date: 10/19/2023 Snohomish County Tax Asessor Presentation Staff Lead: City Council Department: City Council Preparer: Beckie Peterson Background/History Linda Hjelle is the Snohomish County Assessor, 2016 to present. Prior to being elected to this position, she was the Chief Deputy Assessor for 26 years. Recommendation N/A Narrative Ms. Hjelle will present how Property Tax works, including levies and the Assessor's office. Packet Pg. 54 5.3 City Council Agenda Item Meeting Date: 10/19/2023 2024 Budget Workshop: 2024 Proposed Revenues Staff Lead: City Council Department: City Council Preparer: Beckie Peterson Background/History The 2024 Proposed Budget includes several revenue proposals for Council to consider. Recommendation N/A Narrative Council will discuss and consider 2024 proposed revenues including: ARPA (Decision Package 65) Building Maintenance Fund Transfer (Decision Package 65) Red -Light Traffic Cameras (Decision Package 7) Property Tax Increase Grants Other - Levy Options for 2024 Discussion points: 1. What do we like about these revenue sources? 2. What are our concerns? 3. Which do we prioritize in 2024? 4. What other revenue sources could we consider? Attachments: 2024 Decision Package #7 2024 Decision Package #65 Packet Pg. 55 gIDPBdgtRpt Decision Package Budget Report 10/2/2023 2:00:40PM City of Edmonds 5.3.a Decision Package #7 Decision Package: 410-24006 - Traffic Cameras Date Budget Year Group Version Priority Duration Approval Status 08/30/2023 2024 aehlert 0 6 Ongoing Pending Item Description In order to address complaints and reduce collisions, red light cameras, are offered as an option for enhancing traffic safety in the city of Edmonds. Justification One of the highest priorities of both the Mayor and the City Council is to improve traffic and pedestrian safety. Traffic safety related issues are often the number one complaint the police department receives. It is important to mitigate factors related to traffic complaints and collisions. One prominent factor that causes collisions and the resulting injuries is red light running. The City Council has already approved school zone cameras with a company called Verra Mobility. The contract is in place and allows for additions to the contract to add red light cameras, as soon as those additions are approved by council. Approval to proceed could be made by council prior to approving the overall 2024 budget. Installing red light cameras at high -traffic and high -collision intersections serves to educate, inform and reinforce safe driving behaviors, which reduces the number of injuries and deaths to drivers, passengers, and pedestrians. Because red light tickets do not go on a drivers license record, they do not increase insurance rates for the driver. Nearly all of the cities in the vicinity of Edmonds have already installed similar camera systems. Despite our priority for increasing public safety, the City of Edmonds is one of the few medium- to large -size cities in the region that does not currently have similar cameras in operation. Issuing citations for red light infractions is a proven methodology for reducing poor driver behavior such as running red lights and making illegal and dangerous turns. Research was completed by the Edmonds Police Department Traffic Sergeant which used traffic data in the city of Edmonds to identify the top twelve intersections where accidents have occurred in the last five years. The fine related to v each red light traffic infraction is approximately $130. Verra Mobility will examine the intersections selected and determine the approximate number of cars that commit red light running at each intersection, which would inform the decision as to U the locations ultimately chosen. Each red light camera lease is approximately $5,000 per camera per month, money which 5 is earned back in citation revenue. This Decision Package assumes that at least six red light cameras will be installed in 2024 and be running for about eight months of the year, generating around 280 citations per month, a number below the co number of citations currently being issued by similar cameras in neighboring cities. _ o_ Describe All Funding Sources w .v This decision package adds the revenue for 5 school zone cameras that begin operation in January 2024. Costs for these p cameras were carried forward from 2023 but not additional revenue. This package also adds cost and revenue for 6 red N light cameras, assuming that those will be in operation for around eight months of the year. N Describe Future or Ongoing Costs = m General Fund if needed E t c� Project Status (if applicable) Q Narrative Not Defined FISCAL DETAILS 2024 Operating Expenditures 001.000.41.591.21.70.00 PRINCIPAL PAYMENT LEASES 180,000.00 Total Operating Expenditures 180,000.00 Total Expenditures 180,000.00 Revenues 001.000.353.10.030.00 TRAFFIC CAMERA INFRACTIONS-3,500,000.00 Total Revenues-3,500,000.00 Packet Pg. 56 giDPBdgtRpt Decision Package Budget Report 5.3.a Decision Package #7 10/2/2023 2:00:40PM City of Edmonds Net Budget -3,320,000.00 Packet Pg. 57 gIDPBdgtRpt Decision Package Budget Report 5.3.b 9/27/2023 1:59:07PM City of Edmonds Decision Package #65 Date 08/11 /2023 Decision Package: 310-24001 - Transfer Funds from 016 and ARPA Budget Year Group Version Priority Duration 2024 sharp 0 1 One -Time Item Description Transfer money from 016 and ARPA to the General Fund Justification Transfer money from 016 and ARPA to the General Fund Describe All Funding Sources Transfer money from 016 and ARPA to the General Fund Describe Future or Ongoing Costs N/A Project Status (if applicable) N/A FISCAL DETAILS 2024 Operating Expenditures 016.100.66.597.18.55.01 TRANSFER TO FUND 001 2,000,000.00 Total Operating Expenditures 2,000,000.00 Total Expenditures 2,000,000.00 Revenues 001.000.333.21.019.00 CORONAVIRUS RELIEF FUND 001.000.397.18.016.00 INTERFUND TRANSFER FROM 016 Total Revenues Net Budget -6,500,000.00 -2,000,000.00 -8,500,000.00 -6,500,000.00 Approval Status Pending cc a� c� M a _ 0 y N N O N C N E t 0 R Q Packet Pg. 58