HomeMy WebLinkAbout08/16/2022 06.D. 2022 2nd Quarter Financial Report Y�'1114'+
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 6.D.
For Meeting of:August 16, 2022
ITEM TITLE: 2022 2nd Quarter Financial Report
SUBMITTED BY: Jennifer Ferrer-Santa Ines, Director of Finance & Budget
Kimberly Domine, Financial Services Manager
Kathy Miles, Financial Services Technician - Payroll
SUMMARY EXPLANATION:
1. Summary Narrative
2. 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
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Review only. Submitted for routine transparency and accountability.
ATTACHMENTS:
Description Upload Date Type
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To: Honorable Mayor and Members of the City Council
Bob Harrison,City Manager
From: Jennifer Ferrer-Santa Ines,Director of Finance &Budget
Kimberly Domine,Financial Services Manager
Kathy Miles,Financial Services Technician-Payroll
Date: August 16,2022
Subject: 2022 2nd Quarter Financial Update
This financial update is a preliminary,unaudited,report for the 2nd quarter ended June 30,2022,two
quarters,or 50%of the year,intended to inform and assist governance decisions for future planning. In
total,city revenues are at 45.7%of budget and expenditures are at 35.0%of budget. The timing of certain
revenue payments and Capital fund expenditures,are normally the biggest reasons that revenues and
expenditures are below 50% 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 2022 will not be completed until later
in 2023,which may affect final numbers.
COVID's Economic Effects on City Revenues
The American Rescue Plan Act (ARPA) funds positively impacted 2022,increasing budgeted revenues
and expenses and affecting"normal"budgetary percentages in the accompanying reports uniquely. The
economic effects of COVID and the CARES Act affected 2021 uniquely,complicating comparison to prior
year.
As has been monitored and reported continuously,there was a substantial economic impact to many of
the City's budgeted revenues due to COVID in 2020 and 2021. While numbers for most of these revenues
improved in the first part of 2022 and year-to-date numbers are still showing growth from last year
(103.7%),the growth has slowed significantly from the beginning of the year (115.8%).
• Sales Tax is currently exceeding budget by 17.1%in the 2nd quarter. Major categories that are
leading this increase in Sales Tax are:
Real Estate,Rental and Leasing is up 9.4%,with the largest increase in office machinery
and equipment rental,up 40.6%over last year.
3
• Accommodations and food services are up 19.6%,mainly due to the food services and
drinking places category,which is up 34.1%.
• Construction is also going strong with an increase of 11.7% over last year,mostly in the
specialty trade category (masonry,plumbing,electrical,etc), up 21.3%.
• Other services are up 21.9%, with linen supply services up by 56.7%.
• The miscellaneous category is currently at 17.2%,with the largest increase in health care
and social assistance,up 140.7%.
• Lodging Tax had a significant downturn in 2020 and 2021 due to the economic effects of the
COVID pandemic but has improved significantly in the first half of 2022. Lodging Tax is now
showing significant signs of improvement at 143.1% of budget for the 2nd quarter.
• Building Permits and Fire Inspection Fees decreased during 2020 and into 2021, and while
building permit revenue is improving(but still below budget expectations),fire inspection fees
are still well below budget,and are continuing to be monitored monthly.
• Gambling revenues continue to struggle to reach budget expectations in the 2nd quarter of 2022,
as three of these establishments went out of business or did not renew their licenses,and reported
revenues from these businesses are down over all.
General Fund's Performance to Budget
General Fund Revenues in total are at 48.9%;the largest components are:
• Property Tax is at 57.2%,mainly due to the timing of payments.
• Licenses and Permits,showing improvement from 2nd quarter 2021,are at 52.2%.
• Criminal Justice Tax is at 50.7%.
• Other Taxes are down,mainly due to the timing of these revenue payments.
General Fund Expenditures in total are at 43.6%. The largest component variances are:
• Interfund Distributions (transfers from the General Fund to other funds)are at(475.4)%. As
of 2021,City Service charges are required to be shown as a reimbursement of expense,instead
of a revenue per the State Auditor. This change was implemented by the City towards the
end of the year,consequently, there was not time to update the Amended Budget with City
Council at the time of this report.
• Intergovernmental is at 63.7%.
• Human Resources, City Clerk,Economic Development, City Hall Facility and Parking are all
currently under 40% of expenditures,most likely due to the timing of billings received.
4
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 June at$149.2 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 -
$50,000000 -
$25,000,000 -
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Sales Tax
This is the largest single funding source for the city. The 2nd quarter cumulative revenue of$13.3 million
exceeds the cumulative budget by$2.3 million or 17.1%and is greater than prior year by$811,071. 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 April. Rising inflation,unchanged spending and consumption
by end users have all influenced the 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
$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
Finance Quarterly Report-Page 3
5
Property Tax
The 2nd quarter cumulative Property Tax revenue is tracking right on budget. The 2022 budget
increased by$313,175 due to assessed valuations(a combination of the existing cap at 1%and new
growth). The following chart includes city-wide property tax revenue.
PROPERTY TAX REVENUE
$30,000,000 -
$20,000,000 -
—
$10,000,000 -
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative Current Year Cumulative Prior Year Cumulative
Water
The 2nd quarter cumulative revenue of$4.4 million for Water through June is down$185,729 from last
year,most likely due to cooler spring weather, the timing of billings,and changes to the billing cycle. A
rate increases of 5% went into effect in January of 2022. January 2022 was overstated,as there was a
billing error in January that was corrected in February.
WATER REVENUE
$15,000,000
$10,000,000 -
$5,000,000 -1
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Finance Quarterly Report-Page 4
6
Wastewater
The 2nd quarter cumulative revenue of$10.5 million is up$240,307 over budget and$80,235 over prior
year. An average 3.2%rate increase was approved by Council for 2022. A cost of service and rate study
for the division was planned and budgeted for 2022,but will not be completed until 2023.
WASTEWATER REVENUE
$30,000,000 -
$20,000,000 -
$10,000,000 -
$0 I 1 I I I I i 1 I
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative Current Year Cumulative Prior Year Cumulative
Stormwater
The 2nd quarter cumulative operating assessments of$2.5 million are down$155,923 under budget and
$44,679 over prior year. 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. A journal entry at year end is required to account for the timing of
payments and the intergovernmental nature of this revenue.
STORMWATER REVENUE
$5,000,000 -
$4,000,000 -
$3,000,000 - —
::::::
: ,'f
I 1 I I
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Finance Quarterly Report-Page 5
7
Refuse
The 2nd quarter cumulative Refuse revenue of$3.6 million is up$1,374 over budget and $205,621 over
prior year. An average 3.5%rate increase in Refuse rates was approved by Council for each year 2021
through 2025 as reflected in the 2022 budget.
REFUSE REVENUE
$10,000,000 -
$7,500,000 -
$5,000,000 -
$2,500,000 -
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative Current Year Cumulative Prior Year Cumulative
Lodging Tax
The 2nd quarter cumulative revenue of$647,650 is up$194,956 over budget and up$229,290 compared to
prior year. The comparison of each month's revenue to the same month in prior year improved through
the last six months of 2021,and into the 2nd quarter of 2022,showing steady improvement for the first
time in almost two years. The City is hopeful that this positive trend steadily continues moving forward.
LODGING TAX REVENUE
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
• Budget Cumulative S Current Year Cumulative Prior Year Cumulative
Finance Quarterly Report-Page 6
8
Real Estate Excise Tax(REET I &II, combined)
The 2nd quarter cumulative revenue for REET of$1.6 million is up$136,408 over budget and down
$11,249 over prior year, most likely due to fluctuating interest rates.
REET 1/REET 2
$4,000,000 -
$3,000,000 -
$2,000,000 -
i
$1,000,000 -
$0 I I 1 I 1
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative U Current Year Cumulative Prior Year Cumulative
Building Permits
After a slow start in 2022, the 2nd quarter cumulative revenues of$370,188 are up$89,255 over budget
and $44,747 above prior year,showing improvement from the slow start in the first two months of 2022.
Permit activity shows that there were 107 permits for 40 dwelling units in 2022,compared with 88
permits for 15 dwelling units in 2021,with the majority of increase within the single family and duplex
categories.
BUILDING PERMIT REVENUE
$1,000,000 -
$750,000 -
$500,000 -
$250,000 -
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Budget Cumulative Current Year Cumulative Prior Year Cumulative
Finance Quarterly Report-Page 7
9
CITY-WIDE FUND BALANCE SUMMARY
CHANGE IN FUND BALANCE
2022 As of June 30
Beginning 2022 2022 Ending
Balance Actual Rev. Actual Exp. Balance
General Fund $ 15,273,951 $ 33,972,728 $ 31,140,678 $ 18,106,001
Parks and Recreation 1,097,390 2,695,729 2,634,938 1,158,181
Street&Traffic Operations 1,250,587 3,161,905 2,659,470 1,753,022
General Government Subtotal 17,621,928 39,830,362 36,435,086 21,017,204
Other Governmental Operating Funds 7,180,598 29,473,220 7,615,769 29,038,049
Government Capital Funds 15,677,324 3,990,241 3,764,778 15,902,787
Enterprise Operating Funds 34,185,286 29,497,755 33,285,681 30,397,360
Enterprise Capital Funds 44,571,861 13,138,211 7,539,668 50,170,404
Internal Service Funds 4,648,412 4,317,313 4,702,628 4,263,097
Employee Benefit Reserve 5,115,078 7,600,814 8,610,245 4,105,647
Risk Management Reserves 3,788,205 3,104,411 3,319,001 3,573,615
Debt Service&Agency Funds 5,247,798 4,629,099 3,451,916 6,424,981
Total $ 138,036,490 $ 135,581,426 $ 108,724,772 $ 164,893,144
This is a progress report to provide transparency and accountability. This table shows fund balances by
fund at this point in time. This is intended to provide transparency and accountability but is a snapshot,
not a reliable measure of predicted year-end.
Finance Quarterly Report-Page 8
10
CITY WIDE REVENUES & EXPENDITURES BY FUND GROUPING
REVENUE COMPARISON
(Budget vs.Actual)
2021 2022
Annual Annual
Amended Actual % Amended Actual %
Budget as of 6130 Rec'd Budget as of 6/30 Rec'd
General $ 69,979,616 $ 48,498,615 69.3 % $ 69,524,615 $ 33,972,728 48.9
Parks and Recreation 5,745,833 2,970,689 51.7% 5,702,395 2,695,729 47.3 %
Street&Traffic Operations 6,353,125 3,391,289 53.4% 6,478,808 3,161,905 48.8 %
General Government Subtotal 82,078,574 54,860,593 66.8% 81,705,818 39,830,362 48.7%
Other Government Operating Funds 1 34,206,215 6,245,260 18.3 % 32,916,898 29,473,220 89.5
Government Capital Funds 23,266,690 6,133,631 26.4% 36,166,287 3,990,241 11.0 %
Enterprise Operating Funds 68,198,108 28,963,053 42.5 % 67,345,914 29,497,755 43.8 %
Enterprise Capital Funds 31,865,671 4,946,345 15.5 % 37,796,070 13,138,211 34.8 %
Internal Service Funds 7,715,777 3,756,087 48.7% 10,002,954 4,317,313 43.2
Employee Benefit Reserves 16,293,943 7,447,340 45.7% 17,700,231 7,600,814 42.9
Risk Management Reserve 5,126,916 2,649,570 51.7% 5,826,575 3,104,411 53.3
Debt Service&Agency Funds 7,495,303 4,721,549 63.0% 7,100,227 4,629,099 65.2 %
Total $ 276,247,197 $ 119,723,428 43.3 % $ 296,560,974 $ 135,581,426 45.7%
EXPENDITURE COMPARISON
(Budget vs.Actual)
2021 2022
Annual Annual
Amended Actual % Amended Actual %
Budget as of 6/30 Exp'd Budget as of 6/30 Exp'd
General $ 70,950,328 $ 32,850,760 46.3 % $ 71,467,427 $ 31,140,678 43.6
Parks and Recreation 5,861,436 2,258,391 38.5 % 6,378,807 2,634,938 41.3
Street&Traffic Operations 6,352,464 3,099,823 48.8% 6,567,056 2,659,470 40.5
General Government Subtotal 83,164,228 38,208,974 45.9% 84,413,290 36,435,086 43.2 %
Other Government Operating Funds 29,723,343 6,993,886 23.5 % 27,687,115 7,615,769 27.5
Government Capital Funds 35,397,699 15,407,649 43.5 % 31,827,259 3,764,778 11.8
Enterprise Operating Funds 67,535,670 27,795,119 41.2% 75,027,602 33,285,681 44.4
Enterprise Capital Funds 37,588,968 4,843,604 12.9% 52,126,085 7,539,668 14.5 %
Internal Service Funds 9,910,780 3,569,716 36.0% 9,696,770 4,702,628 48.5 %
Employee Benefit Reserves 16,933,061 8,494,029 50.2% 16,963,080 8,610,245 50.8 %
Risk Management Reserve 5,688,793 2,860,831 50.3 % 5,555,497 3,319,001 59.7
Debt Service&Agency Funds 7,554,302 2,884,669 38.2% 7,100,485 3,451,916 48.6
Total $ 293,496,844 $ 111,058,477 37.8% $ 310,397,183 $ 108,724,772 35.0
1 Other Government Operating Funds are at 89.5%due to a distribution of ARPA funding in the amount of$13.0 million in June of this year.
Currently,there is$3.3 million and$2.8 million,respectively,of Police and Fire vehicles that are yet to be accounted for in this fund that has
not yet been invoiced.
Finance Quarterly Report-Page 9
11
GENERAL G D VERNMENT REVENUE DETAIL
GENERAL GOVERNMENT REVENUES
2022 2022
Revenues as of June 30 Amended Percent
General Fund 2020 2021 2022 Budget Rec'd
Property Tax $ 5,859,715 $ 5,164,793 $ 5,342,593 $ 9,335,615 57.2 %
General Sales Tax 8,633,825 10,343,662 10,841,479 22,306,000 48.6
Criminal Justice Sales Tax 1,720,133 2,110,294 2,423,548 4,781,000 50.7
Utility&Franchise Taxes 9,076,600 10,141,099 9,784,175 20,325,209 48.1
Other Taxes 462,120 301,478 348,543 1,082,000 32.2
Licenses and Permits 879,624 805,960 890,537 1,704,700 52.2 %
Intergovernmental Revenues 1 1,751,118 14,717,128 1,931,613 3,918,878 49.3 %
Charges for Services 3,559,973 3,673,933 1,407,694 3,449,776 40.8 %
Fines and Forfeitures 517,314 659,023 589,894 1,418,000 41.6 %
Other Revenue 468,013 581,245 412,652 1,203,437 34.3
Total General Fund 32,928,435 48,498,615 33,972,728 69,524,615 48.9
Parks&Recreation
Property Tax 1,540,731 1,536,122 1,485,575 2,673,716 55.6 %
Intergovernmental Revenues 1 36,787 5,958 26,166 199,955 13.1 %
Charges for Services 162,810 333,933 464,129 945,115 49.1 %
Other Revenue 705,055 1,094,676 719,859 1,883,609 38.2 %
Total Parks&Recreation 2,445,383 2,970,689 2,695,729 5,702,395 47.3
Streets
Property Tax 2,190,495 2,451,144 2,445,946 4,399,808 55.6
Intergovernmental Revenues 1 644,085 647,040 684,021 1,574,000 43.5 %
Charges for Services 251,100 253,720 2,697 505,000 0.5 %
Other Revenue 90,714 39,385 29,241 - n/a
Total Streets 3,176,394 3,391,289 3,161,905 6,478,808 48.8 %
Total General Government $ 38,550,212 $ 54,860,593 $ 39,830,362 $ 81,705,818 48.7
Note: Year to date revenues above are consistent with historical trends with the exception of those noted
in the footnotes.
1 Intergovernmental revenues are affected by the timing of grant reimbursements to the City.
Finance Quarterly Report-Page 10
12
GENERAL G D VERNMENT EXPENDITURE DETAIL
GENERAL FUND EXPENDITURES
2022
Expenditures as of June 30 Amended Percent
2020 2021 2022 Budget Exp'd
Police $ 13,455,239 $ 13,654,857 $ 14,144,291 $ 32,502,596 43.5 %
Fire 7,293,732 7,743,017 8,089,878 16,226,271 49.9%
Information Technology 1,873,332 2,054,530 1,928,843 4,497,068 42.9%
Finance 852,472 1,107,242 1,202,011 2,775,553 43.3 %
Legal 931,414 1,002,973 1,012,918 2,192,864 46.2%
Code Administration 887,079 897,865 840,093 2,024,585 41.5 %
Municipal Court 769,728 824,533 837,232 1,824,344 45.9%
Indigent Defense 537,342 546,859 568,078 1,100,000 51.6%
Firemen's Relief/Pension 680,066 580,142 549,270 1,045,252 52.5 %
Engineering 308,400 452,425 400,555 987,677 40.6%
Human Resources 374,799 356,902 356,013 935,521 38.1 %
Planning 390,151 360,123 358,092 826,804 43.3 %
City Management 241,588 384,064 375,771 819,157 45.9%
Police Pension 394,504 387,099 318,138 717,932 44.3 %
City Clerk/Records 298,289 248,624 257,980 685,847 37.6%
Economic Development 117,181 158,958 230,357 595,761 38.7%
City Hall Facility 295,604 186,663 206,381 518,211 39.8%
Purchasing 240,190 212,127 218,814 452,601 48.3 %
City Council 145,514 144,184 147,946 284,804 51.9%
Interfund Distributions 1 832,308 1,278,413 (1,028,343) 216,330 (475.4)%
Parking 77,809 46,807 39,600 101,986 38.8%
Intergovernmental 89,872 76,563 86,760 136,261 63.7%
Clean City Fund 2 73,533 145,790 n/a
Total General Fund 31,160,146 32,850,760 31,140,678 71,467,425 43.6%
1 As of 2021 City Service charges are required to be shown as a reimbursement of expense instead of a revenue per the State Auditor.This
change was implemented by the City at the end of the 2021 fiscal year. Therefore,City Service charges and transfers affect the quarterly
amounts due to the timing of recurring journal entries,and will self correct by the end of the year.
2 The Clean City Fund,originally set up as part of the General Fund,was authorized as a special revenue fund by ordinance on 9/7/21.
Finance Quarterly Report-Page 11
13
OTHER FUNDS DETAIL
OTHER GOVERNMENT OPERATING FUNDS
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Economic Development 606,936 $ - $ - $ 606,936
Neighborhood Development 427,756 287,313 462,147 252,922
Community Relations 870,766 328,540 334,503 864,803
Clean City Program 18,813 386,610 218,675 186,748
Cemetery 172,379 204,106 200,258 176,227
Emergency Services 145,497 943,771 791,906 297,362
Public Safety Communication 1,351,097 2,310,746 1,998,379 1,663,464
Police Grants 936,847 197,144 305,656 828,335
PBIA(Park/Bus Improvement Area) 80,691 84,259 45,452 119,498
Trolley 41,242 8,734 3,874 46,102
Front Street Bus Improvement Area 7,238 1,351 1,565 7,024
Convention&Event Center 607,144 743,202 1,026,335 324,011
Capitol Theatre 83,416 211,304 207,775 86,945
PFD-Convention Center 1,248,458 476,976 630,399 1,095,035
Tourism Promotion Area 91,785 466,710 466,710 91,785
PFD-Capitol Theatre 422,833 361,366 340,035 444,164
American Rescue Plan Act(ARPA)1 67,700 22,461,088 582,100 21,946,688
Total Other Gov't Operating Funds $ 7,180,598 $ 29,473,220 $ 7,615,769 $ 29,038,049
GOVERNMENTAL CAPITAL FUNDS
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Central Bus District Capital 55,012 4 - 55,016
Capitol Theatre Construction 273,635 30,000 200,735 102,900
Yakima Redevelopment Area 2 20,664 - 227,181 (206,517)
Parks&Recreation Capital 313,601 72,922 321,319 65,204
Fire Capital 455,050 69,312 15,848 508,514
Law and Justice Capital 1,371,642 161,722 74,688 1,458,676
Public Works Trust Construction 4,360,786 861,729 970,732 4,251,783
REET 2 Capital 1,530,662 797,660 743,733 1,584,589
Street Capital 3,066,264 811,811 221,698 3,656,377
Street Overlay&Reconstruction 2,206,592 1,023,134 1,054,284 2,175,442
Cony&Event Center Cap Impr 3 1,659,537 155,204 (107,641) 1,922,382
Reserve for Capital Improvement 363,879 6,743 42,201 328,421
Total Gov't Capital Funds $ 15,677,324 $ 3,990,241 $ 3,764,778 $ 15,902,787
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.
2 YRDA capital fund shows a negative ending fund balance due to the the timing of revenues. This fund should not be negative at year-end..
3 Actual expenditures are negative pending an accrual of a final project payment. Until required documentation is received,final payment to a
vendor cannotbe made.
Finance Quarterly Report-Page 12
ENTERPRISE OPERATING FUNDS 14
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Airport Operating $ 1,134,481 $ 956,564 $ 765,896 $ 1,325,149
Stormwater Operating 1,617,825 2,520,665 2,187,574 1,950,916
Transit Operating 10,001,495 4,084,267 4,286,502 9,799,260
Refuse 3,914,939 4,457,074 3,853,259 4,518,754
Wastewater Operating 12,148,164 11,730,287 13,433,236 10,445,215
Water Operating 6,501,625 4,738,550 7,680,326 3,559,849
Irrigation 4 (1,133,243) 1,010,348 1,078,888 (1,201,783)
Total Enterprise Operating Funds $ 34,185,286 $ 29,497,755 $ 33,285,681 $ 30,397,360
ENTERPRISE CAPITAL FUNDS
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Airport Capital 5 $ (2,091,151) $ 496,561 $ 228,132 $ (1,822,722)
Stormwater Capital 5,058,189 800,000 150,844 5,707,345
Transit Capital 7,197,904 65,137 3,389 7,259,652
Wastewater Facilities Capital 5,392,682 489,917 50,420 5,832,179
Wastewater Construction Capital 5,951,592 3,750,000 527,897 9,173,695
Wastewater Capital 5,669,543 3,000,000 224,705 8,444,838
Water Capital 6,752,721 500,000 290,381 6,962,340
Irrigation Capital 10,640,381 4,036,596 6,063,900 8,613,077
Total Enterprise Capital Funds $ 44,571,861 $ 13,138,211 $ 7,539,668 $ 50,170,404
INTERNAL SERVICE FUNDS
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Equipment Rental $ 3,128,706 $ 2,588,862 $ 2,584,369 $ 3,133,199
Environmental 532,192 62,048 295,550 298,690
Public Works Administration 699,162 702,671 652,049 749,784
Utility Services 288,352 963,732 1,170,660 81,424
Total Enterprise Operating Funds $ 4,648,412 $ 4,317,313 $ 4,702,628 $ 4,263,097
4 The correction to the negative fund balance for Irrigation will require a journal entry once the State Auditors have completed their 2021 audit
in the 3rd quarter.
5 Airport Capital has a negative fund balance due to changes in depreciation of fixed assets per the State Auditor. Once these numbers are
finalized,a journal entry will be made to correct this issue.
Finance Quarterly Report-Page 13
EMPLOYEE BENEFIT RESERVES 15
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Unemployment Comp Reserve $ 417,521 $ 114,079 $ 91,917 $ 439,683
Employees Health Ben Reserve 3,672,300 6,637,412 7,280,815 3,028,897
Worker's Comp Reserve 863,377 849,323 1,222,066 490,634
Wellness/EAP 161,880 - 15,447 146,433
Total Employee Benefit Reserve $ 5,115,078 $ 7,600,814 $ 8,610,245 $ 4,105,647
RISK MANAGEMENT RESERVE
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
Risk Management Reserve $ 3,788,205 $ 3,104,411 $ 3,319,001 $ 3,573,615
DEBT SERVICE &AGENCY FUNDS
2022 As of June 30
Beginning 2022 2022 Ending
Fund Balance Actual Rev. Actual Exp. Balance
GO Bond Redemption
2002 GO Convention Center $ 184,239 $ 679,024 $ 318,523 $ 544,740
2005 GO Various Bonds 6 16,603 1,735,151 2,182,632 (430,878)
Total GO Bond Redemption $ 200,842 $ 2,414,175 $ 2,501,155 $ 113,862
Water/Sewer Revenue Bond Redemption
WW Rev Bond&2008 Debt Service $ 344,852 $ 191,200 $ 26,000 $ 510,052
Irrigation Bond Debt Service 220,723 136,075 36,313 320,485
WW Rev Bond Rsv&2012 Debt Svc 2,675,944 581,400 29,267 3,228,077
Total W/S Rev Bond Redemption $ 3,241,519 $ 908,675 $ 91,580 $ 4,058,614
Agency Funds
YakCorps $ 913,936 $ 639,773 $ 310,963 $ 1,242,746
Custodial Fund 170,016.66 657,516 542,218 285,315
Cemetery Trust 721,484 8,960 6,000 724,444
Total Agency Funds $ 1,805,437 $ 1,306,249 $ 859,181 2,252,505
Total Debt Service&Agency Funds $ 5,247,798 $ 4,629,099 $ 3,451,916 $ 6,424,981
6 Fund balance may be negative due to the timing in interest accrual payments. These numbers should correct by year-end.
Finance Quarterly Report-Page 14