HomeMy WebLinkAbout05/06/2025 07.B. 2025 1st Quarter Financial Report r:-
`y � ljlt
r&1-
ii!
'I!I/
s• r
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 7.B.
For Meeting of: May 6, 2025
ITEM TITLE: 2025 1st Quarter Financial Report
SUBMITTED BY: *Craig Warner, Director of Finance & Budget
SUMMARY EXPLANATION:
The First Quarter Financial Report for 2025 is attached and consists of the following:
• Summary Narrative
• Financial Reports
• Cash Balance Trend
• Material Revenue Performance Charts
• Fund Balance Summary
• Revenue and Expenditure Comparison to Budget and Actual Year to-Date
• General Government Revenue Historical Year-to-Date Detail
• General Government Expenditure Historical Year-to-Date Detail
• Other Funds - Revenue, Expenditure and Fund Balance Summary
This is an informational update, pending completion of year-end close process and independent audit.
ITEM BUDGETED: N/A
STRATEGIC PRIORITY 24-25: A Resilient Yakima
RECOMMENDATION: Review only. Submitted for routine transparency and accountability.
ATTACHMENTS:
2025 FN 1st Quarter Report.pdf
17
"., FINANCE DEPARTMENT
To: Honorable Mayor and Members of the City Council
Vicki Baker,City Manager
From: Craig Warner,Director of Finance &Budget
Kathy Miles,Finance Department Analyst
Date: May 6,2025
Subject: 2025 1st Quarter Financial Update
This financial update is a preliminary, unaudited,report for the 1st quarter ended March 31,2025, (one
quarters,or 25%of the year),intended to inform and assist governance decisions for future planning. In
total,city revenues are at 16.6%of budget and expenditures are at 18.1%of budget. The timing of certain
revenue payments and Capital fund expenditures are normally the biggest reasons that revenues and
expenditures are below 25%at this point in the year.
Cash position and revenue charts on the following pages provide insight into the monitoring of revenue
and the management of expenses. The Quarterly Treasury report: a separate report,also available on the
City's website,provides further cash and investment analysis.
This report is not a final report,as the annual independent audit for 2025 will not be completed until later
in 2026,which may affect final numbers.
COVID's Economic Effects on City Revenues
The American Rescue Plan Act (ARPA) funds have impacted budgeted revenues and expenses,affecting
"normal"budgetary percentages in the accompanying reports uniquely for 2021 through 2025,and will
likely do so until 2026,when this funding is required to be spent. The economic effects of COVID and
the CARES Act also affected the budget uniquely,further complicating comparison to prior years. As
has been monitored and reported continuously,there was a substantial economic impact to many of the
City's budgeted revenues as a result of the pandemic.
In more detail,Sales Tax revenue for 2024 ($23.1 million)was 99.5%of the 2023 ($23.2 million) for the
year,while the cost of living increase based on the year was 2.5%1. The 1st quarter 2025 numbers are
currently at 97.4%of 1st quarter 2024 numbers,continuing to show declining revenue. Significant
changes are shown on the next page.
• Sales Tax is currently below budget by 8.1%at the end of the 1st quarter. Major categories that
effected this change in Sales Tax were:
Construction is down 11.5%,mainly in the residential remodeling and commercial and
institutional construction categories.
1 Social Security Administration-Based on the increase in the Consumer Price Index(CPI-W)from the third quarter of 2022 through the third
quarter of 2023.
Finance Quarterly Report-Page 1 18
• Wholesale Trade is down 9.2%,mainly in the durable goods category,continuing a trend
that began in early 2024.
• Real Estate,including rentals and leasing,was down 8.7%from last year,continuing a
decline that started mid-year in 2023.
• The largest increase for the quarter is in the Miscellaneous Other category,which was up
by 3.8%,with the largest increase in administration and support services.
• Fire Inspection Fees decreased dramatically during 2020 and into 2021 due to COVID,improving
marginally in 2022 and 2023. Revenue for the 1st quarter of 2025 is currently well below budget
forecasts-at only 5.7%budgeted revenue received. This revenue stream continues to be
monitored.
General Fund's Performance to Budget
General Fund revenues,in total,are at 19.1%of budgeted amounts for the 1st quarter. The most
significant variances are:
• Sales Tax,the major contributor to the General Fund,is at 22.1%of the Amended Budget,
down$142,633 from the first quarter of 2024.
• Intergovernmental revenue for the General Fund (15.3%)is below 25%mainly due to the
timing of incoming grant funds.
• Other Revenue (42.7%),is in the negative due to a negative amortization,which will be
corrected with a journal entry at year end when final numbers are known.
• Property Tax is currently at 10.3% due to the timing of these revenue payment from the
County.
• Other Taxes (0.1%)are below 25% due to the timing of an assessment for dangerous buildings.
General Fund Expenditures in total are at 21.4%. The most significant variances are:
• Economic Development (3.3%) is below 25% due to salary savings.
• Codes (12.5%) is under 25%of expenditures due mainly to an ARPA Connecting Housing to
Infrastructure Program(CHIP) grant where the work has not yet been completed.
• City Clerk/Records (13.8%)is below 25% due to budgeted election costs that have not yet
materialized.
• Municipal Court,at 14.9%,is experiencing lower expenditures in both salary saving and
professional services.
• Intergovernmental is at 62.5% due to the timing of payments to external agencies.
• City Council is at 38.4% due to the timing of professional service and dues and subscription
payments.
General Fund Balance
The General Fund (001),which provides for public safety and general government services,was
positively affected by the end of 2023 due to the upturn of the fair value rates and increased interest
returns. These revenues were the main reason the year ended with a minimal increase to fund balance
rather than a decrease.
In the 1st quarter of 2025,the General Fund (001)balance decreased by$2.5 million,to$13.6 million,and
is currently at 17.6%of the Amended Budget. This amount will change as the year progresses,but is an
indicator of what is currently trending.
Finance Quarterly Report-Page 2 19
CASH POSITION AND REVENUE UPDATE
City staff monitors revenues and manages expenses continuously.
Cash& Investments
As a current over-all indicator,the 4-year historic core city-wide cash and investments balance trend
shows March at$146.0 million. Each month is best compared to the same month in previous years to
account for seasonality and other annual events.
CASH AND INVESTMENTS HISTORY
$175,000,000 -
$150,000,000 -
$125,000,000 -
$100,000,000 -
$75,000,000 -
$50,000,000 -
$25,000,000 -
$0
Sales Tax
This is the largest single funding source for the city. The 1st quarter city-wide cumulative revenue of$9.1
million is below the quarterly cumulative amount budgeted by$795,047 or 8.1%,and is less than the
prior year 1st quarter number by$263,765. The city receives sales tax from the State on a 2-month lag
from the actual point-of-sale transactions so these figures are for actual transactions through January.
The stabilization of inflation and more cautious spending are the most likely items influencing the slower
rate of increase of revenues from sales tax receipts. The graph below shows General Fund Sales Tax
revenues (General Sales Tax (001) and Criminal Justice Sales Tax (003) -as seen on page 10).
SALES TAX REVENUE
$50,000,000 -
$40,000,000 -
$30,000,000 -
$20,000,000 -
$10,000,000 -
$0 • • •
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
• Budget Cumulative 411 Current Year Cumulative Prior Year Cumulative
20
Finance Quarterly Report-Page 3
Property Tax
The 1st quarter cumulative Property Tax revenue is currently tracking close to budgeted amounts. The
2025 budget increased by$553,795 from the final 2024 budgeted amount due to assessed valuations(a
combination of the existing cap at 1%and new growth). The following graph includes city-wide
property tax revenue.
PROPERTY TAX REVENUE
$30,000,000
$20,000,000 -
$10,000,000 •
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative •Current Year Cumulative Prior Year Cumulative
Water
The 1st quarter cumulative water operating revenue of$2.5 million through March is up$235,955 from
last year,mainly due to rate increases after the completion of a cost of service and rate study for the
division in 2024.
WATER REVENUE
$15,000,000
$10,000,000
$5,000,000
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
• Budget Cumulative S Current Year Cumulative Prior Year Cumulative
21
Finance Quarterly Report-Page 4
Wastewater
The 1st quarter cumulative wastewater operating revenue of$5.7 million is up$571,182 over budget and
above prior year by$274,607. A cost of service and rate study for the division was presented to City
Council in July of 2024,and was implemented in the 2025 budget.
WASTEWATER REVENUE
$30,000,000 -
$20,000,000 -
$10,000,000 -
$0 • } } f
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative S Current Year Cumulative Prior Year Cumulative
Stormwater
For the provision of stormwater compliance and stormwater collection services a tax is levied against the
total assessments collected from annual stormwater assessment charges at the current rate of fifteen
percent,plus five percent designated for Aquatics Facilities beginning in 2025 for a total of 20%. The 1st
quarter cumulative operating assessments of$577,957 are up$96,284 over budget and$78,454 over prior
year.
STORMWATER REVENUE
$5,000,000 -
$4,000,000 -
$3,000,000 -
$2,000,000 -
$1,000,000 -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
• Budget Cumulative S Current Year Cumulative Prior Year Cumulative
22
Finance Quarterly Report-Page 5
Refuse
The 1st quarter cumulative automated residential revenue of$2.1 million is up$203,888 over budget and
$72,243 over prior year. An average 3.5%rate increase in Refuse rates was approved by Council for each
year 2021 through 2025.
REFUSE REVENUE
$io,000,000 -
$7,500,000 -
$5,000,000 -
$2,500,000 -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative S Current Year Cumulative Prior Year Cumulative
Lodging Tax
The 1st quarter cumulative revenues of$304,521 are up$44,742 over budget and up$2,722 compared to
prior year,and are currently 17.2%over budgeted amounts.
LODGING TAX REVENUE
$3,000,000 -
$2,000,000 -
$1,000,000 -
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative S Current Year Cumulative Prior Year Cumulative
23
Finance Quarterly Report-Page 6
Real Estate Excise Tax (REET I & II,combined)
REET continues to struggle,with the 1st quarter cumulative revenue for REET currently$226,885 under
budget,and down$111,180 over prior year. This is mainly due to the continuing reduction in property
sales and fluctuating interest rates.
REET 1/REET 2
$4,000,000 -
$3,000,000 -
$2,000,000 -
$1,000,000 -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative S Current Year Cumulative Prior Year Cumulative
Building Permits
After posting a minor increase at the end of the first quarter,and with a continuing downward trend in
the last 3 quarters,the 2025 1st quarter cumulative revenues of$211,139 are$20,133 over budget and
$27,388 above prior year. Permit activity shows that there were 236 permits for 136 dwelling units in the
1st quarter for 2025,compared with 180 permits for 43 dwelling units in 2024,with the difference in
permit type mainly within the single family and residential alteration categories.
BUILDING PERMIT REVENUE
$i,000,000 -
$750,000 -
$500,000 -
$250,000 -
$0 •
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative Current Year Cumulative Prior Year Cumulative
24
Finance Quarterly Report-Page 7
CITY-WIDE FUND BALANCE SUMMARY
CHANGE IN FUND BALANCE
2025 As of March 31 %of Change
Beginning 2025 2025 Ending Amended in Fund
Balance Actual Rev. Actual Exp. Balance Budget Balance
General Fund(001) $ 16,111,949 $ 14,011,200 $ 16,482,784 $ 13,640,365 17.6% (15.3)%
Criminal Justice(003) 886,807 773,835 758,768 901,874 25.1% 1.7
Firemen's Relief&Pension(612) 1,208,708 73,981 338,675 944,014 87.8% (21.9)%
Policeman's Relief&Pension(613) — 69,630 160,767 (91,137) (12.8)% n/a
General Fund Subtotal 18,207,464 14,928,646 17,740,994 15,395,116 18.7% (15.4)%
Parks&Recreation 809,132 1,036,888 1,123,936 722,084 12.4% (10.8)%
Streets&Traffic 3,213,153 558,077 1,177,819 2,593,411 47.9% (19.3)%
General Government Subtotal 22,229,749 16,523,611 20,042,749 18,710,611 20.0% (15.8)%
Governmental Operating Funds 11,062,939 4,697,325 5,484,727 10,275,537 45.6% (7.1)%
Governmental Capital Project Funds 18,937,669 2,456,584 2,285,041 19,109,212 38.1% 0.9
Enterprise Operating Funds 39,050,129 15,047,520 15,265,133 38,832,516 53.3% (0.6)%
Enterprise Capital Project Funds 48,095,426 3,886,215 4,337,346 47,644,295 123.8% (0.9)%
Internal Service Funds 9,270,866 2,169,965 1,966,986 9,473,845 72.2% 2.2 %
Employee Benefit Reserve 5,094,524 4,639,995 5,103,199 4,631,320 23.6% (9.1)%
Risk Management Reserves 7,185,679 1,144,323 3,701,207 4,628,795 61.0% (35.6)%
Debt Service&Agency Funds 3,831,410 1,197,123 192,887 4,835,646 142.8% 26.2 %
Citywide Total $164,758,391 $ 51,762,661 $ 58,379,275 $158,141,777 49.2% (4.0)%
This is a progress report to provide transparency and accountability. This table shows fund balances by
fund categories at this point in time. This is intended to provide transparency and accountability but is a
snapshot,not necessarily a reliable measure of predicted year-end.
In the 1st quarter of 2025,the General Fund (001)balance decreased by$2.5 million,to$13.6 million,and
is currently at 17.6%of the Amended Budget. This amount will change as the year progresses,but is an
indicator of what is currently trending.
Staff and Council continue discussions to review options,new revenues or budget reductions to comply
with reserve policies in the coming years.
25
Finance Quarterly Report-Page 8
CITY WIDE REVENUES & EXPENDITURES BY FUND GROUPING
REVENUE COMPARISON
(Budget vs.Actual)
2024 2025
Annual Annual
Amended Actual % Amended Actual cyo
Budget as of 3/31 Rec'd Budget as of 3/31 Rec'd
General Fund $ 76,462,964 $ 16,384,638 21.4% $ 78,111,545 $ 14,928,644 19.1 %
Parks&Recreation 6,553,589 1,059,790 16.2 % 5,833,469 1,036,888 17.8%
Streets&Traffic 6,615,518 767,637 11.6% 5,139,628 558,077 10.9 %
General Government Subtotal 89,632,071 18,212,065 20.3 % 89,084,642 16,523,609 18.5 %
Other Governmental Operating Funds 36,514,776 4,527,919 12.4% 24,133,218 4,697,325 19.5 %
Government Capital Funds 40,145,035 1,523,818 3.8% 46,233,275 2,456,584 5.3 %
Enterprise Operating Funds 67,722,972 14,040,076 20.7% 71,582,381 15,047,520 21.0%
Enterprise Capital Funds 35,335,920 4,279,049 12.1 % 38,953,339 3,886,215 10.0%
Internal Service Funds 12,027,532 2,221,593 18.5 % 11,418,910 2,169,965 19.0%
Employee Benefit Reserve 20,443,592 4,387,996 21.5 % 22,213,927 4,639,995 20.9 %
Risk Management Reserves 4,546,286 1,136,605 25.0% 4,546,286 1,144,323 25.2 %
Debt Service&Agency Funds 5,108,771 1,134,824 22.2 % 3,387,164 1,197,123 35.3 %
Citywide Total $ 311,476,955 $ 51,463,945 16.5 % $ 311,553,142 $ 51,762,659 16.6%
EXPENDITURE COMPARISON
(Budget vs.Actual)
2024 2025
Annual Annual
Amended Actual % Amended Actual cyo
Budget as of 3/31 Exp'd Budget as of 3/31 Exp'd
General Fund $ 83,198,498 $ 16,851,517 20.3 % $ 82,953,238 $ 17,740,997 21.4%
Parks&Recreation 6,558,589 1,219,926 18.6% 5,839,290 1,123,936 19.2 %
Streets&Traffic 6,903,842 1,145,875 16.6% 5,416,703 1,177,819 21.7%
General Government Subtotal 96,660,929 19,217,318 19.9 % 94,209,231 20,042,752 21.3 %
Other Governmental Operating Funds 35,929,822 5,132,645 14.3 % 22,547,958 5,484,727 24.3 %
Government Capital Funds 40,277,202 1,267,431 3.1 % 50,156,581 2,285,041 4.6%
Enterprise Operating Funds 74,312,073 15,442,195 20.8% 72,846,032 15,265,133 21.0%
Enterprise Capital Funds 46,326,210 1,815,006 3.9 % 38,486,041 4,337,346 11.3 %
Internal Service Funds 16,316,835 2,310,933 14.2 % 13,118,707 1,966,986 15.0%
Employee Benefit Reserve 19,366,358 5,917,891 30.6% 19,642,144 5,103,199 26.0%
Risk Management Reserves 7,497,242 3,425,304 45.7% 7,585,674 3,701,207 48.8%
Debt Service&Agency Funds 5,024,842 254,761 5.1 % 3,387,164 192,887 5.7%
Citywide Total $ 341,711,513 $ 54,783,484 16.0% $ 321,979,532 $ 58,379,278 18.1 cyo
26
Finance Quarterly Report-Page 9
GENERAL GOVERNMENT REVENUE DETAIL
GENERAL GOVERNMENT REVENUES
2025 2025
Revenues as of March 31 Amended Percent
General Fund 2023 2024 2025 Budget Rec'd
Sales Tax $ 5,546,690 $ 5,639,913 $ 5,497,250 $ 24,846,000 22.1 %
Utility&Franchise Taxes 6,012,305 5,754,653 6,229,692 21,729,567 28.7%
Property Tax 989,703 932,410 1,091,952 10,585,965 10.3 %
Criminal Justice Sales Tax 1,246,253 1,310,270 1,242,337 5,522,000 22.5 %
Charges for Services 690,104 729,800 425,323 3,318,674 12.8%
Other Revenue 477,121 271,181 (1,208,273) 2,826,808 (42.7)%
Intergovernmental 868,564 668,795 690,544 4,513,781 15.3 %
Licenses&Permits 444,244 476,114 591,270 1,810,750 32.7%
Fines&Forfeitures 236,162 281,723 366,983 1,501,000 24.4%
Other Taxes&Assessments 44,969 319,778 1,566 1,457,000 0.1 %
Total General Fund 16,556,115 16,384,637 14,928,644 78,111,545 19.1 %
Parks&Recreation
Property Tax 305,408 323,741 319,506 2,970,919 10.8%
Charges for Services 164,725 172,260 188,322 702,115 26.8%
Other Revenue 500,598 522,703 524,592 2,142,562 24.5 %
Intergovernmental 5,958 41,085 4,468 17,873 25.0%
Total Parks&Recreation 976,689 1,059,789 1,036,888 5,833,469 17.8%
Streets&Traffic
Property Tax 423,414 415,225 272,426 3,130,000 8.7%
Charges for Services 825 26,803 1,629 583,628 0.3 %
Other Revenue 1,970 8,648 2,127 - n/a
Intergovernmental 323,991 316,962 281,895 1,426,000 19.8%
Total Streets&Traffic 750,200 767,638 558,077 5,139,628 10.9 %
Total General Government $ 18,283,004 $ 18,212,064 $ 16,523,609 $ 89,084,642 18.5 %
Year to date revenues above are mostly consistent with historical trends,significant differences are noted
below.
• Sales Tax,the major contributor to the General Fund,is at 22.1%of the Amended Budget,
down$142,633 from the first quarter of 2024.
• Intergovernmental revenue for the General Fund (15.3%)is below 25%mainly due to the
timing of incoming grant funds.
• Other Revenue (42.7%),is in the negative due to a negative amortization,which will be
corrected with a journal entry at year end when final numbers are known.
• Property Tax is currently at 10.3% due to the timing of these revenue payment from the
County.
• Other Taxes (0.1%)are below 25% due to the timing of an assessment for dangerous buildings.
((42.7)%)is over 25%,mainly due to investment interest.
27
Finance Quarterly Report-Page 10
GENERAL GOVERNMENT EXPENDITURE DETAIL
GENERAL FUND EXPENDITURE DETAIL
2025
Expenditures as of March 31 Amended Percent
General Fund 2023 2024 2025 Budget Exp'd
Police $ 8,649,722 $ 7,911,377 $ 8,298,026 $ 39,514,410 21.0%
Fire 4,613,502 4,143,495 4,410,136 18,459,325 23.9 %
Information Technology 1,290,719 1,021,849 1,147,375 5,130,490 22.4%
Legal 544,970 563,424 572,646 2,735,673 20.9 %
Municipal Court 619,530 535,743 454,020 3,051,658 14.9 %
Financial Services 613,437 466,538 541,379 2,051,184 26.4%
Code Administration 412,391 391,538 402,500 3,216,952 12.5 %
Indigent Defense 387,201 431,609 448,319 1,750,000 25.6%
Human Resources 178,083 181,191 370,909 1,318,305 28.1 %
Environmental Planning 138,027 248,895 185,508 1,093,388 17.0%
Firemen's Relief&Pension 302,530 284,858 338,675 1,074,763 31.5 %
Engineering 276,475 228,374 180,196 1,036,878 17.4%
City Clerk/Records 136,437 (132,560) 109,943 795,648 13.8%
Economic Development 192,669 189,911 26,048 781,498 3.3 %
Police Relief&Pension 329,465 196,650 160,767 712,800 22.6%
City Management 159,168 319,214 126,131 678,878 18.6%
City Hall Facility 113,069 110,849 132,597 590,671 22.4%
Purchasing 79,422 67,831 113,607 490,456 23.2 %
City Council 115,225 120,512 126,957 330,622 38.4%
Intergovernmental 81,305 93,476 100,598 161,001 62.5 %
Operating Transfers 1 (99,227) (523,258) (505,340) (2,021,362) 25.0%
Parking 2 3,685 n/a
Total General Fund $ 19,137,805 $ 16,851,516 $ 17,740,997 $ 82,953,238 21.4
Year to date expenditures above are consistent with historical trends other than the items noted below.
• Economic Development (3.3%) is below 25% due to salary savings.
• Codes (12.5%) is under 25%of expenditures due mainly to an ARPA Connecting Housing to
Infrastructure Program(CHIP) grant where the work has not yet been completed.
• City Clerk/Records (13.8%)is below 25% due to budgeted election costs that have not yet
materialized.
• Municipal Court,at 14.9%,is experiencing lower expenditures in both salary saving and
professional services.
• Intergovernmental is at 62.5% due to the timing of payments to external agencies.
• City Council is at 38.4% due to the timing of professional service and dues and subscription
payments..
1 City Service charges are required to be shown as a reimbursement of expense instead of a revenue per the State Auditor. These numbers can
vary dependent upon the timing of the City Services Reimbursements and transfers out.
2 Parking was moved into the Police department as of 2023. A final journal entry will be done for 2023 once all reoccurring charges have
expired.
28
Finance Quarterly Report-Page 11
OTHER FUNDS DETAIL
OTHER GOVERNMENT OPERATING FUNDS
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
Neighborhood Development $ 1,021,927 $ 1,612,586 $ 1,810,890 $ 823,623 (19.4)%
Community Relations 549,516 108,417 155,866 502,067 (8.6)%
Aquatic Center at MLK Jr Park 719,000 - - 719,000 -%
Aquatics Facilities - 92,406 171,798 (79,392) n/a
Clean City Program 869,897 202,225 189,603 882,519 1.5%
Cemetery 116,450 181,251 94,623 203,078 74.4%
Emergency Services 589,612 266,715 533,005 323,322 (45.2)%
Public Safety Communication 1,792,118 910,345 1,181,510 1,520,953 (15.1)%
Police Grants 1,140,176 22,361 15,164 1,147,373 0.6%
Opioid Lawsuit 904,535 - - 904,535 -%
Downtown Yakima Business Impr District 104,040 100,787 561 204,266 96.3%
Trolley 47,796 4,563 1,578 50,781 6.2%
Front Street Business Improvement 6,621 1,150 - 7,771 17.4%
Convention&Event Center 1,127,857 479,204 570,845 1,036,216 (8.1)%
Capitol Theatre 96,737 90,846 107,621 79,962 (17.3)%
PFD-Convention&Event Center 801,724 208,042 218,863 790,903 (1.3)%
Tourism Promotion Area 136,695 191,066 191,066 136,695 -%
PFD-Capitol Theatre 970,538 157,607 173,980 954,165 (1.7)%
American Rescue Plan Act(ARPA)1 67,700 67,754 67,754 67,700 -%
Total Other Gov't Operating Funds $ 11,062,939 $ 4,697,325 $ 5,484,727 $ 10,275,537 (7.1)%
GOVERNMENTAL CAPITAL FUNDS
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
CBD Capital Improvement $ 55,024 $ - $ - $ 55,024 -%
Capitol Theatre Capital 224,258 15,000 - 239,258 6.7%
Yakima Revenue Development Area 2,214,921 7,152 41,307 2,180,766 (1.5)%
Parks&Recreation Capital 583,375 1,071,813 682,694 972,494 66.7%
Fire Capital 573,449 29,889 6,909 596,429 4.0%
Law&Justice Capital 1,421,399 106,230 5,716 1,521,913 7.1%
Real Estate Excise Tax(REET 1) 2,771,591 245,797 152,412 2,864,976 3.4%
Real Estate Excise Tax(REET 2) 389,902 224,685 126,308 488,279 25.2%
Transportation Benefit District 4,818,377 315,919 287,402 4,846,894 0.6%
Street Overlay&Construction 3,641,435 391,236 971,972 3,060,699 (15.9)%
Convention&Event Center Capital 2,199,865 48,863 10,321 2,238,407 1.8%
Cumulative Reserve for Capital Impr 44,073 - - 44,073 -%
Total Gov't Capital Funds $ 18,937,669 $ 2,456,584 $ 2,285,041 $ 19,109,212 0.9%
1 The American Rescue Plan Act(ARPA)Special Revenue Fund(180)was created to account for funds received from the Office of Financial
Management(OFM)to aid in the recovery from the budgetary,economic,and financial impacts of the COVID pandemic.
29
Finance Quarterly Report-Page 12
ENTERPRISE OPERATING FUNDS
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
Airport Operating $ 1,618,140 $ 423,596 $ 444,089 $ 1,597,647 (1.3)%
Stormwater Operating 3,618,182 577,957 1,241,312 2,954,827 (18.3)%
Transit Operating 16,490,860 2,062,556 2,235,841 16,317,575 (1.1)%
Refuse 6,009,577 2,367,302 1,967,793 6,409,086 6.6%
Wastewater Operating 5,411,591 6,453,910 5,581,756 6,283,745 16.1%
Water Operating 5,588,730 2,690,450 2,930,681 5,348,499 (4.3)%
Irrigation Operating 2 313,049 471,749 863,661 (78,863) (125.2)%
Total Enterprise Operating Funds $ 39,050,129 $ 15,047,520 $ 15,265,133 $ 38,832,516 (0.6)%
ENTERPRISE CAPITAL FUNDS
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
Airport FAA $ (593,015) $ 15,844 $ 37,288 $ (614,459) 3.6%
Stormwater Capital 5,194,931 543,489 35,039 5,703,381 9.8%
Transit Capital 5,577,999 7,641 894,287 4,691,353 (15.9)%
Wastewater Facilities Capital 3,574,455 239,917 15,372 3,799,000 6.3%
Wastewater Construction Capital 9,969,371 270,505 145,022 10,094,854 1.3%
Wastewater Projects Capital 5,889,948 800,000 539,827 6,150,121 4.4%
Water Capital 16,028,926 1,000,000 601,636 16,427,290 2.5%
Irrigation Capital 2,452,811 1,008,819 2,068,875 1,392,755 (43.2)%
Total Enterprise Capital Funds $ 48,095,426 $ 3,886,215 $ 4,337,346 $ 47,644,295 (0.9)%
INTERNAL SERVICE FUNDS
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
Equipment Rental /Reserves $ 7,425,824 $ 1,435,362 $ 927,079 $ 7,934,107 6.8%
Environmental 242,266 - 43,309 198,957 (17.9)%
Public Works Administration 774,398 422,901 493,385 703,914 (9.1)%
Utility Services 828,378 311,702 503,213 636,867 (23.1)%
Total Enterprise Operating Funds $ 9,270,866 $ 2,169,965 $ 1,966,986 $ 9,473,845 2.2%
2 The negative Irrigation Operating fund balance will be corrected with a transfer from the Irrigation Capital fund at year-end if needed.
30
Finance Quarterly Report-Page 13
EMPLOYEE BENEFIT RESERVES
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
Unemployment Compensation Reserve $ 473,539 $ 64,494 $ 13,002 $ 525,031 10.9%
Employees Health Benefit Reserve 3,220,679 3,582,692 4,473,018 2,330,353 (27.6)%
Worker's Compensation Reserve 1,170,004 992,809 609,780 1,553,033 32.7%
Wellness/Employee Assist Program 230,302 - 7,399 222,903 (3.2)%
Total Employee Benefit Reserve $ 5,094,524 $ 4,639,995 $ 5,103,199 $ 4,631,320 (9.1)%
RISK MANAGEMENT RESERVE
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
Risk Management Reserve $ 7,185,679 $ 1,144,323 $ 3,701,207 $ 4,628,795 (35.6)%
DEBT SERVICE,CUSTODIAL&TRUST FUNDS
2025 As of March 31 %Change
Beginning 2025 2025 Ending in Fund
Fund Balance Actual Rev. Actual Exp. Balance Balance
GO Bond Redemption
2020 Cony&Event Ctr /Capitol Theatre $ 633,195 $ 316,273 $ - $ 949,468 49.9 %
Miscellaneous LTGO Bonds 17,626 178,249 - 195,875 n/a
Total GO Bond Redemption 650,821 494,522 - 1,145,343 76.0 %
Water/Sewer Revenue Bond Red
2008 Wastewater Revenue Bonds 375,065 96,888 (2,713) 474,666 26.6 %
2004 Irrigation System Revenue Bonds 230,594 68,725 (5,825) 305,144 32.3 %
2012 Wastewater Revenue Bonds 1,620,948 1,620,948 0/0
Total W/S Rev Bond Redemption 2,226,607 165,613 (8,538) 2,400,758 7.8 %
Custodial and Trust Funds
Custodial Fund 210,587 499,804 198,425 511,966 143.1 %
Cemetery Trust 743,395 37,184 3,000 777,579 4.6 %
Total Custodial&Trust Funds 953,982 536,988 201,425 1,289,545 35.2 %
Total Debt Svc,Custodial&Trust Funds $ 3,831,410 $ 1,197,123 $ 192,887 $ 4,835,646 26.2 cyo
31
Finance Quarterly Report-Page 14