The URL can be used to link to this page

2023-12-12 City Council FIN Packet1 2 OF BbMG ti Agenda Edmonds City Council 1,00 FINANCE COMMITTEE - SPECIAL MEETING CITY COUNCIL CONFERENCE ROOM 121 - 5TH AVENUE N, EDMONDS, WA 98020 DECEMBER 12, 2023, 4:30 PM COUNCIL COMMITTEE MEETINGS ARE WORK SESSIONS FOR THE COUNCIL AND CITY STAFF. COMMITTEE MEETING AGENDAS DO NOT INCLUDE AUDIENCE COMMENTS OR PUBLIC HEARINGS. STAFF AND COUNCILMEMBERS ATTEND COMMITTEE MEETINGS VIRTUALLY, AND MEMBERS OF THE PUBLIC ARE ENCOURAGED TO ATTEND THE SAME WAY. PERSONS WISHING TO ATTEND THIS MEETING VIRTUALLY IN LIEU OF IN -PERSON ATTENDANCE CAN CLICK ON OR PASTE THE FOLLOWING ZOOM MEETING LINK INTO A WEB BROWSER USING A COMPUTER OR SMART PHONE: HTTPS://ZOOM. US/J/95798484261 OR JOIN BY DIAL -UP PHONE: US: +1 253 215 8782 WEBINAR ID: 957 9848 4261 IF MEMBERS OF THE PUBLIC CANNOT ACCESS THE VIRTUAL COMMITTEE MEETINGS WITH THEIR PERSONAL DEVICES, A MONITOR IS PROVIDED ON CITY COUNCIL COMMITTEE NIGHTS FROM 3:30- 930 PM AT THE CITY COUNCIL CONFERENCE ROOM AT 121 5TH AVE N, EDMONDS WA. COMMITTEE MEMBERS: WILL CHEN (CHAIR), SUSAN PAINE, COUNCIL PRESIDENT (EX-OFFICIO MEMBER) CALL TO ORDER COMMITTEE BUSINESS 1. 2023 December Budget Amendment Ordinance (15 min) ADJOURNMENT: 5:30 PM Edmonds City Council Agenda December 12, 2023 Page 1 2.1 City Council Agenda Item Meeting Date: 12/12/2023 2023 December Budget Amendment Ordinance Staff Lead: Dave Turley Department: Administrative Services Preparer: Marissa Cain Background/History Amend the 2023 Ordinance No. 4313 Staff Recommendation Staff recommends to include on the December 19th City Council agenda for review and approval by full Council. Attachments: 2023 December Budget Amendment Exhibits 2023 December Budget Amendment Ordinance Packet Pg. 2 2.1.a 2023 December Budget Amendment Budget Amendment for: December 19, 2023 Item Description: The Street Fund (111) is currently in the position to end the year with a negative fund balance. Per the Washington State Auditor's BARS manual, "when a fund has a negative fund balance, it has effectively borrowed money from other funds." If a negative fund balance is estimated to last beyond 60 days, then the government should follow the procedures for an Interfund Loan, as outlined by the WA SAO BARS Manual. This decision package was created to keep the city in accordance with the State Auditor's requirements by creating budget authority for a one-time cash transfer from the REET 1 Fund, as 25% of available REET 1 funds up to $1,000,000 (which the city has not exceeded) are permitted for the use of maintenance costs for REET 1 capital projects. This one-time transfer will keep the Street Fund 111 from eoine ne ative and essential) "borrowin " from other funds throw h the end of 2023. Department: Finance Fund MULTIPLE FUNDS Name: Division: Title: REET Interfund Transfer to Street Department Preparer: Marissa Cain Budget Amendment Type For Council To Consider 7 Date of Discussion or Budget Approval? How is this amendment funded? 1 100% Ending Fund Balance What is the nature of the expenditure? One -Time Is the Expenditure Operating or Capital? 10perating Expenditure Increase (Decrease) Account Number Description 2023 2024 2025 2026 2027 126.000.68.597.95.55.11 Interfund Subsidies $ 400,000 $ $ $ $ Total Expenditure Increase Decrease $ 400.000 $ $ $ $ Revenue Increase (Decrease) Account Number Description 2023 2024 2025 2026 2027 111.000.397.42.126.00 Operating Transfer -In $ 400,000 $ $ $ S Total Revenue Increase(Decrease) $ 400,000 $ $ $ S Ending Fund Balance Increase (Decrease) Account Number Description 2023 2024 2025 2026 2027 126.000.39.508.30.00.00 Ending Fund Balance $ 400,000 $ $ $ $ 111.000.68.508.30.00.00 Ending Fund Balance 400,000 Total Ending Fund Balance Increase Decrease $ S $ $ $ Packet Pg. 3 2.1.a 2023 December Budget Amendment Budget Amendment for: December 19, 2023 Description: The parks department purchased three pieces of equipment that they request be added to the Equipment Rental Fund and a B-Fund Replacement Fund be established. The equipment includes a Conservation Seeder, a John Deer Terrain - Cut Mower and a John Deer Gator. The purchases were initially made from the General Fund but staff are requesting the budget and expenditure be moved from the General Fund to the Equipment Rental Fund. The B-Fund will be established next year during the budget process. The life expectancy of these pieces is approximately 10 years. Parks/ Parks/ Parks I Budget Amendment Type Date of Discussion or Budget Approval? How is this amendment funded? What is the nature of the expenditure? Is the Expenditure Operating or Capital? Expenditure Increase (Decrease) Rental Rental Purchases Previously Approved Budget By Council December 2022 Approval of 2023 Budget DP#640-23009 (#26) 100% Ending Fund Balance One -Time Capital Fund ' MULTIPLE FUNDS Name: Account Number Description 2023 2024 2025 2026 2027 001.000.64.594.76.64.00 Parks Maintenance Equipment $ 90,758 $ $ $ $ 001.000.39.597.48.55.11 Transfer to Fleet Equipment Rental 90,758 511.100.77.594.48.64.00 Equipment Rental Equipment Purchase 90,758 Total Expenditure Increase Decrease $ 90,758 $ $ $ $ Revenue Increase (Decrease) Account Number Description 2023 2024 2025 2026 2027 511.100.397.48.001.00 Transfer in From General Fund $ 90,758 $ $ $ S Total Revenue Increase(Decrease) $ 90,758 $ $ $ S Ending Fund Balance Increase (Decrease) Account Number Description 2023 2024 2025 2026 2027 $ S $ $ $ Total Ending Fund Balance Increase Decrease $ S $ $ $ Packet Pg. 4 2.1.a 2023 December Budget Amendment Budget Amendment for: December 19, 2023 Description: This computer equipment is required for the additional police vehicles approved and purchased in 2023 as take home vehicles. The equipment includes computer, docking station and printer per vehicle. The approved decision packages prepared by the Police Department and mentioned below did not include budget for this equipment. DP #410-23001-1 Vehicle DP #410-23005 - 5 Patrol Vehicles DP #410-23007 - 2 Patrol Vehicles DP #410-23004 - 9 Patrol Vehicles Car Budget Amendment Type Date of Discussion or Budget Approval? How is this amendment funded? What is the nature of the expenditure? Is the Expenditure Operating or Capital? Expenditure Increase (Decrease) ve Services Services on behalf of Michelle Bennett ew Item For Council To Consider 4th Quarter Budget Amendment Approval of 2023 Adopted Budget 12/2022 100% Ending Fund Balance On -Going Operating Fund 512 TECHNOLOGY Name: RENTAL FUND Fill out on -going costs & revenues Account Number Description 2023 2024 2025 2026 2027 512.100.31.594.18.64.1011 MACHINERY/EQUIPMENT (capital) $ 78,836 $ - $ - $ - $ 001.000.41.521.10.45.11 Interfund Rental 13,140 13,140 13,140 13,140 13,140 Total Expenditure Increase Decrease $ 91,976 $ 13,140 $ 13,140 $ 13,140 $ 13,140 Revenue Increase (Decrease) Account Number Description 2023 2024 2025 2026 2027 512.100.348.00.000.00 Rental Charge B fund $ 13,140 $ 13,140 $ 13,140 $ 13,140 $ 13,140 Total Revenue Increase(Decrease) $ 13,140 1 $ 13,140 $ 13,140 $ 13,140 $ 13,140 Ending Fund Balance Increase (Decrease) Account Number Description 2023 2024 2025 2026 2027 512.100.31.508.00.00.00 Ending Fund Balance $ 65,696 $ 13,140 $ 13,140 $ 13,140 $ 13,140 001.000.39.508.00.00.00 Ending Fund Balance 13,140 13,140 13,140 13,140 13,140 Total Ending Fund Balance Increase Decrease $ 78,836 $ I I$ $ Packet Pg. 5 2.1.b Section 2. Effective Date. This ordinance, being an exercise of a power specifically delegated to the City legislative body, is not subject to referendum, and shall take effect five (5) days after passage and publication of an approved summary thereof consisting of the title. MAYOR, MIKE NELSON ATTEST/AUTHENTICATE: CITY CLERK, SCOTT PASSEY APPROVED AS TO FORM: OFFICE OF THE CITY ATTORNEY: CI JEFF TARADAY FILED WITH THE CITY CLERK: PASSED BY THE CITY COUNCIL: PUBLISHED: EFFECTIVE DATE: ORDINANCE NO. Packet Pg. 7 EXHIBIT "A": Budget Amendment Summary (December 2023) 2.1.b FUND NO. FUND DESCRIPTION 2023 BEGINNING FUND BALANCE REVENUE EXPENDITURES 2023 ENDING FUND BALANCE 001 GENERAL FUND 11,902,952 52,558,830 63,983,894 477,888 009 LEOFF-MEDICAL INS. RESERVE 216,864 225,000 367,140 74,724 011 RISK MANAGEMENT RESERVE FUND 25,000 - 25,000 - 012 CONTINGENCY RESERVE FUND 1,782,150 447,522 - 2,229,672 014 HISTORIC PRESERVATION GIFT FUND 11,701 - 5,900 5,801 016 BUILDING MAINTENANCE 4,296,604 17,480 1,275,000 3,039,084 017 MARSH RESTORATION & PRESERVATION FUND 849,766 - - 849,766 018 EDMONDS HOMELESSNESS RESPONSE FUND 200,000 200,000 019 EDMONDS OPIOID RESPONSE FUND - - - - 104 DRUG ENFORCEMENT FUND 67,570 167,650 45,800 189,420 111 STREET FUND 408,684 2,415,410 2,746,179 77,915 112 COMBINED STREETCONST/IMPROVE 2,439,505 12,366,800 11,273,695 3,532,610 117 MUNICIPAL ARTS ACQUIS. FUND 634,888 99,220 207,380 526,728 120 HOTEL/MOTELTAXREVENUEFUND 94,864 84,400 95,400 83,864 121 EMPLOYEEPARKINGPERMITFUND 75,032 38,960 26,880 87,112 122 YOUTH SCHOLARSHIP FUND 15,208 1,660 3,000 13,868 123 TOURISM PROMOTIONAL FUND/ARTS 115,171 30,440 28,500 117,111 125 PARK ACCl/I MP ROVEM ENT 3,292,557 2,320,090 4,315,418 1,297,229 126 SPECIAL CAPITAL FUND 4,025,522 2,302,980 2,627,383 3,701,119 127 GI FTS CATALOG FUND 3,063,792 232,490 551,598 2,744,684 130 CEMETERY MAINTENANCE/IMPROV 268,169 150,960 291,530 127,599 136 PARKS TRUST FUND 161,439 5,460 216,062 (49,163) 137 CEMETERY MAINTENANCE TRUSTFD 1,103,300 51,500 50,000 1,104,800 138 SISTER CITY COMMISSION 19,895 10,430 11,900 18,425 140 BUSINESS IMPROVEMENT DISTRICT FUND 39,784 88,645 88,575 39,854 141 AFFORDABLE& SUPPORTIVE HOUSING FUND 234,566 65,000 - 299,566 142 EDMONDS RESCUE PLAN FUND 64,588 1,879,000 1,879,000 64,588 143 TREE FUND 226,300 215,100 239,800 201,600 211 LID FUND CONTROL - - - - 231 2012 LTGO DEBTSERVICE FUND - 309,800 309,800 - 332 PARKS CONSTRUCTION 207,683 2,713,902 2,255,647 665,938 421 WATER 31,888,623 11,950,114 11,949,308 31,889,429 422 STORM 18,071,732 9,095,452 8,525,900 18,641,284 423 SEWER/TREATMENT PLANT 62,999,334 16,895,408 18,972,999 60,921,743 424 BOND RESERVE FUND 843,961 1,991,860 1,989,820 846,001 511 EQUIPMENT RENTAL FUND 9,395,801 4,344,498 5,057,583 8,682,716 512 Technology Rental Fund 962,502 1,647,271 2,022,460 587,313 Tota Is 160,005,507 124,723,332 141,438,551 143,290,288 C d E C d E Q N 3 m L E N v d M N CD N d C> C cC C O r C d E C d E Q 4) Co 3 m L d E d C� d f� M N CD N C d E L V �4 r r.+ Q Packet Pg. 9 2.1.b EXHIBIT "B": Budget Amendments by Revenue (December 2023) FUND NO. FUND DESCRIPTION Adopted Budget Ord.#4289 1/1/2023 Adopted Amendment Ord.#4297 3/2/2023 Adopted Amendment Ord.#4300 4/25/2023 Adopted Amendment Ord.#4310 6/20/2023 Adopted Amendment Ord.#4313 7/25/2023 Proposed Amendment Ord.# 2023 Amended Revenue Budget 001 General Fund $ 49,991,791 $ 360,954 $ 834,000 $ $ 1,372,085 $ $ 52,558,830 009 Leoff-Medica I Ins. Reserve 225,000 - - 225,000 011 Risk Management Reserve Fund - - - 012 Contingency Reserve Fund 447,522 447,522 014 Historic Preservation Gift Fund - - - 016 Building Maintenance Fund 17,480 17,480 017 Marsh Restoration & Preservation Fund - - 018 Edmonds Homelessness Response Fund 019 Edmonds Opioid Response Fund - - 104 Drug Enforcement Fund 167,650 - 167,650 111 Street Fund 1,815,410 - 200,000 400,000 2,415,410 112 Combined Street Const/Improve 8,308,065 2,776,000 1,282,735 - - 12,366,800 117 Municipal Arts Acquis. Fund 98,098 - - 1,122 99,220 118 Memorial Street Tree - - 120 Hotel/Motel Tax Revenue Fund 84,400 - 84,400 121 Employee Parking Permit Fund 38,960 38,960 122 Youth Scholarship Fund 1,660 1,660 123 Tourism Promotional Fund/Arts 30,440 30,440 125 ParkAcq/Improvement 2,320,090 2,320,090 126 Special Capital Fund 2,302,980 - 2,302,980 127 Gifts Catalog Fund 135,340 97,150 232,490 130 Cemetery Maintenance/Improv 150,960 - 150,960 136 Parks Trust Fund 5,460 5,460 137 Cemetery Maintenance Trust I'd 51,500 51,500 138 Sister City Commission 10,430 10,430 140 Business Improvement District Fund 88,645 88,645 141 Affordable and Supportive Housing Fund 65,000 - 65,000 142 Edmonds Rescue Plan Fund 1,249,000 420,000 210,000 1,879,000 143 Tree Fund 215,100 - 215,100 211 Lid Fund Control - - - 231 2012 LTGO Debt Service fund 309,800 309,800 332 Parks Construction 927,205 1,786,697 2,713,902 421 Water 11,950,114 - - 11,950,114 422 Storm 8,903,407 117,045 75,000 9,095,452 423 Sewer/Treatment Plant 15,898,844 - 996,564 16,895,408 424 Bond Reserve Fund 1,991,860 - 1,991,860 511 Equipment Rental Fund 4,188,740 - 65,000 90,758 4,344,498 512 Technology Rental Fund 1,413,372 67,822 152,937 13,140 1,647,271 617 Firemen's Pension Fund - - - - - Totals $ 112,956,801 $ 5,108,518 $ 2,984,257 1 $ $ 3,169,858 1 $ 503,898 $ 124,723,332 C d E C d E Q r.+ N C1 7 m L 4) E d C� 4) M N CD N N v C M C L 0 C N E C d E Q d 7 m L d E d V d M N CD 04 C E t v Q Packet Pg. 10 2.1.b EXHIBIT "C: Budget Amendment by Expenditure (December 2023) FUND NO. FUND DESCRIPTION Adopted Budget Ord. #4289 1/1/2023 Adopted Amendment Ord. #4297 3/2/2023 Adopted Amendment Ord. #4300 4/25/2023 Adopted Amendment Ord. #4310 6/20/2023 Adopted Amendment Ord. #4313 7/25/2023 Proposed Amendment Ord. # 2023 Amended Expenditure Budget 001 General Fund $ 55,716,788 $ 1,970,899 $ 4,093,110 $ $ 2,189,957 $ 13,140 $ 63,983,894 009 Leoff-Medical Ins. Reserve 367,140 - - - - 367,140 011 Risk Management Reserve Fund 25,000 25,000 012 Contingency Reserve Fund - - 014 Historic Preservation Gift Fund 5,900 - 5,900 016 Building Maintenance Fund 1,215,000 60,000 1,275,000 017 Marsh Restoration & Preservation Fund - - - 018 Edmonds Homelessness Response Fund 019 Edmonds Opioid Response Fund - - 104 Drug Enforcement Fund 45,800 45,800 111 Street Fund 2,350,969 - 232,445 162,765 2,746,179 112 Combined Street Const/Improve 7,214,960 2,776,000 1,282,735 - 11,273,695 117 Municipal Arts Acquis. Fund 182,880 24,500 - 207,380 118 Memorial Street Tree - - - 120 Hotel/Motel Tax Revenue Fund 95,400 95,400 121 Employee Parking Permit Fund 26,880 26,880 122 Youth Scholarship Fund 3,000 3,000 123 Tourism Promotional Fund/Arts 28,500 - - 28,500 125 ParkAcq/Improvement 2,473,362 1,589,536 252,520 - 4,315,418 126 Special Capital Fund 1,631,812 137,000 31,700 426,871 400,000 2,627,383 127 Gifts Catalog Fund 497,598 - - 54,000 - 551,598 130 Cemetery Maintenance/Improv 249,413 - 42,117 291,530 136 Parks Trust Fund - 43,842 172,220 216,062 137 Cemetery Maintenance Trust I'd 25,000 25,000 - 50,000 138 Sister City Commission 11,900 - 11,900 140 Business Improvement District Fund 88,575 88,575 141 Affordable and Supportive Housing Fund - - - - 142 Edmonds Rescue Plan Fund 1,249,000 420,000 210,000 1,879,000 143 Tree Fund 239,800 - - 239,800 211 Lid Fund Control - - 231 2012LTGO Debt Service Fund 309,800 309,800 332 Parks Construction 468,950 1,786,697 - - 2,255,647 421 Water 11,335,050 300,000 184,061 130,197 11,949,308 422 Storm 7,603,123 483,840 205,414 233,523 8,525,900 423 Sewer/Treatment Plant 15,381,246 650,000 457,699 2,484,054 18,972,999 424 Bond Reserve Fund 1,989,820 - - - 1,989,820 511 Equipment Rental Fund 3,695,807 671,411 64,640 534,967 90,758 5,057,583 512 Technology Rental Fund 1,617,205 67,822 68,400 190,197 78,836 2,022,460 617 1 Firemen'S Pension Fund - - - - - - Totals 1 $116,145,678 $ 10,586,547 $ 7,292,724 $ $ 6,830,868 $ 582,734 $ 141,438,551 C d E C E Q rr N C1 7 m L 4) E d C� 4) M N CD N N v C R C 0 C N E C d E Q d 7 m L E d V d M N 0 N C d E s C) r Q Packet Pg. 11 EXHIBIT "D": Budget Amendment Summary (December 2023) 2.1.b Proposed Proposed Amendment Proposed Amendment Changein Amendment Change in Ending Fund Number Revenue Change in Expense Fund Balance 001 - 13,140 (13,140) 111 400,000 - 400,000 126 - 400,000 (400,000) 511 90,758 90,758 - 512 13,140 78,836 (65,696) Total Change 503,898 582,734 (78,836) C d E C d E Q N 3 m L E (i M N O N d C> C R C L 0 w+ C d E d E Q rt+ 4) 3 m L d E d d M N O N C d E L V �4 r r-. Q Packet Pg. 12