HomeMy WebLinkAbout09/16/2008 09A 2nd Quarter 2008 Revenue and Expenditure Report BUSINESS OF THE CITY COUNCIL
• YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 31 9 A
For Meeting Of Sept 16, 2008
ITEM TITLE: 2nd Quarter 2008 Revenue and Expenditure Report
SUBMITTED BY: Dick Zais, City Manage c-
Rita DeBord, Finance Director_ - 10
Cindy Epperson, Financial Services Manager t
CONTACT PERSON/TELEPHONE: Cindy Epperson, 575 -6070
SUMMARY EXPLANATION:
The attached report provides a comprehensive summary of the City of Yakima's 2008 budget
and expenditure status through June 30, 2008. Overall, the 2nd quarter activity reflects a stable
fiscal position.
The underlying economic condition of the City continues to be supported by capital spending,
and sales tax is exhibiting a growth rate of about 5.4% as of June 30, which has subsequently
declined to 4.6% by the end of August. Although sales tax has continued to grow each month,
the rate of growth has slowed in the second half of the year. It should be noted that sales tax
represents only one third of total General Fund revenues which are otherwise performing within
normal conservative projections. City expenditures are also within authorized appropriation
levels. However, it has been necessary to make adjustments in the 2008 budget for increased
expenses for higher fuel costs.
Staff has nearly completed initial development of the 2009 preliminary budget estimates. The
2009 Forecast document, an overview /summary of the citywide budget, is scheduled to be
presented at the October 21 City Council meeting. The detailed Preliminary Budget/Policy Issue .
document is scheduled to be released on October 31. These documents will include updated
revenues and expenditures for the third quarter.
Resolution Ordinance Contract Other (Specify) Report
Funding Source: Not Applicable
APPROVED FOR SUBMITTAL:��� �r
City Manager
STAFF RECOMMENDATION: Accept Report
BOARD /COMMISSION RECOMMENDATION:
COUNCIL ACTION:
Ill MEMORANDUM
SEPTEMBER 11, 2008
TO The Honorable Mayor and Members of the City Council
FROM: Dick Zais, City Manager
Rita DeBord, Finance Director
Cindy Epperson, Financial Services Manager
SUBJECT: Second Quarter 2008 Budget Revenue and Expenditure Report
This report provides a comprehensive summary of the City's financial status from
January 1 through June 30, 2008. This summary information is provided by fund in the
following categories:
• General Government Resources
• General Government Expenditures .
• Other Operating and Enterprise Funds
• • Capital Funds
• Reserve Funds
Overall, the City's second quarter budget status reflects a stable fiscal position.
As of this date, the 2008 amended City of Yakima Budget is $186,599,819 or $5,135,279
greater than the adopted 2008 Budget. The increase is due primarily to carry-over 2007
encumbrances of $4.4 million, and SIED funded infrastructure project of $453,000.
Additional appropriations have either already been presented or are tentatively
scheduled for Council action. Typically, appropriation requests are brought forward if:
1) There has been a significant escalation in a cost that the operating funds are not able
to absorb (i.e. fuel), or
0 2) The City has received additional revenue, either through grant awards or program
fees, which obligates the City to expend additional funds.
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•
The following is a partial list of appropriations that will affect the total City budget
III
presented in this report:
D Fuel (cost escalation)
➢ Police and Stormwater Grants
D Tourism Promotion Area (additional revenue)
D Downtown Yakima Business Improvement District (new assessment)
D Parks and Recreation Programs (certain fee based programs)
The table presented below is a summary of the total city budget, summarized by fund
types.
CITYWIDE EXPENDITURE SUMMARY
2008 2008
Amended Actual as of Variance Variance
Funds Budget 6/30 Amount Percent
General $48,157,459 $23,155,538 $25,001,921 51.9%
Parks and Recreation 4,284,706 1,941,844 2,342,862 54.7%
Street and Traffic Operations 6,171,683 2,664,393 3,507,290 56.8%
General Government Subtotal 58,613,848 27,761,775 30,852,073 52.6 °/�
Community Development 4,679,359 1,363,703 3,315,656 70.9%
Utilities / Other Operating 55,246,508 27,411,555. 27,834,953 50.4%
Capital Improvement 45,498,213 7,004,404 38,493,809 84.6%
G.O. Bonds / Notes 2,740,769 1,043,696 1,697,073 61.9%
Water / Wastewater Revenue Bonds 3,960,459 1,260,548 2,699,911 68.2%
Employee Benefit Reserves 12,572,068 5,744,864 6,827,204 54.3%
Operating Reserves 3,268,595 1,106,336 2,162,259 66.2%
Trust and Agency Funds 20,000 0 20,000 100.0%
Total $186,599,819 $72,696,881 $113,902,938 61.0%
GENERAL GOVERNMENT RESOURCES
Table I identifies and compares General Government resources by major source through the
second quarter for 2006, 2007 and 2008. As of June 30, 2008, total General Government
resources, which include actual beginning balances, are at $37,736,324 or 60.1% of the total 2008
budget. (This compares to a level of 58.2% for the same period in 2007.)
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fp GENERAL FUND RESOURCES
Property Tax receipts for the first six months of 2008 are $4,213,982 or 57.5% of this year's
budget compared to $3,823,839 or 55.8% of last year's budget for the same period. The first half
assessment was due to the County by April 30. Yakima County Treasurer's Office estimates
that we should collect between 96% and 98% of the current year levy, and 50% of the
delinquent tax balance. Collections appear to be on target to meet this estimate.
Criminal Justice Sales Tax (0.3 %) receipts are $814,995 or 50.2% through the first half of 2008,
while prior year receipts were $704,392 or 49.1% of budget. The increase year- over -year is the
result of a change in the budgeted allocation, coupled with a 7% growth rate. This latest
revenue source is on track to meet budgetary expectations. Local Criminal Justice Sales Tax
(General Fund) receipts through the second quarter are $450,309 or 49.5% compared to
$428,172 or 50.9% at this time last year.
Sales tax receipts through June 30 are $6,735,016 or 49.3% of budget estimates compared to
$6,388,219 or 48.6% at this time last year. There is a two -month lag from the point of sale to
our receipt of the tax. Sales tax revenue is continuing to demonstrate growth over the prior
year of approximately 5.4 %, tied primarily to construction /durable good activity spurred by
historically low interest rates; the City's designation as a federal "Renewal Community" that
0 encourages job creation by tax incentives (primarily accelerated depreciation rates on new
construction); and development in newly annexed areas.
Franchise tax receipts of $11,716 through the second quarter are at 27.2% of budget estimates
as compared to $7,997 or 21.6% for the same period last year. It should be noted that the
Natural Gas franchise fee of 2% was converted to a utility tax in the fall of 2006. -
Utility tax receipts through the second quarter are $5,771,387 or 53.3% for 2008 compared to
$5,453,168 or 52.9% for the first six months of 2007, representing a growth rate of 5.8% year
over year. Cellular utility taxes are recovering from the lower levels experienced in 2006, as
wireless communications continue to expand; however, "land line" telephone usage is
shrinking as wireless methods expand. The electric utility taxes are ahead of prior year (by
20.5 %), because of collections in new annexation areas and weather patterns. Conversely,
natural gas utility taxes are down by 14.1 %, because of a recent rate decrease. Overall, utility
taxes are performing as expected.
Business License receipts through the second quarter are $501,374 or 100.3% compared to
$487,207 or 97.4% for the first six months of 2007. Most of this revenue is collected at the
beginning of the budget year, as this is an annual fee.
Gambling Tax has fallen off slightly — receipts through June 30, 2008 are $479,979 or 50.5% of
budget, compared to $493,048 in 2007. An establishment with significant delinquencies has
• closed, and collections are being pursued by Legal. It is uncertain how the closure will affect
the activity in other establishments. Therefore, the year -end estimate has been reduced.
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General Government Resources (Continued )
The Police and Fire Federal Grants, a total of $95,875, are a function of timing of
reimbursement requests.
State Shared Revenue such as Liquor Excise of $201,741 or 51.3% is close to budget estimates
for this period, as are Liquor Profits of $284,948 or 47.1 %. Criminal Justice funds of $304,328
are at 71.8% of budget, because the allocation of the distribution is recalculated each July. In
2007 the City was included in a "high crime" distribution, and we anticipated that this would
end in 2008. However, the relative allocation did not change in July, so the City will receive
the higher amount through 2008. These distributions are made on a per capita basis, so
annexations have a positive impact on these revenues.
Overall, Total Intergovernmental revenues are above budget with $1,290,745 or 51.0%
received through June 30, 2008. Any changes have been incorporated into the year end
estimates.
Licenses and Permits revenue is $488,471 or 56.0% of budget through the second quarter of
2008, compared with 2007 receipts of $503,516 or 63.9 %. Permitting activity is exceeding
current budget levels, and is contributing to the maintenance of sales tax receipts, as permits
are the precursor to construction spending.
Fines and Forfeitures are $819,304 or 59.4% of budget as of June 30, 2008, compared to $709,935
or 54.9% through the same time in 2007. Recent court decisions, which slowed collections in
certain categories of fines in prior years, have been resolved so that court fines are slowly
rebounding. Additionally, there has been an increased volume as the Police Officers authorized
by the new criminal justice sales tax and the Safe Community Action Plan complete their
training requirements and are deployed.
Other Miscellaneous Resources
The category of Miscellaneous Revenue consists primarily of interest earnings, which are
performing as expected. To simplify accounting for interest earnings, state pool interest is all
recorded into the General Fund, and transfers are made to other funds from time to time. The
Non - Revenue category contains sale of fixed assets or damage reimbursements. All other
General Fund revenue sources are performing as expected through the second quarter.
Beginning Balance
The actual 2008 General Fund Beginning Balance is $6,250,708; $810,850 more than the 2007
final amended Beginning Balance of $5,439,858. Of the total 2008 Beginning Balance, $1,954,256
is presently obligated to balance the amended General Fund budget, as compared to $1,823,919
of Beginning Balance which was used to balance the 2007 amended General Fund budget.
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0 General Government Resources (Continued )
Total General Fund Revenues equal $24,580,874 or 53.3% of budget through June 30, 2008.
This compares with $23,169,190 or 53.2% of last year's budget revenues through the second
quarter of the year.
Summary: .
Overall, this revenue performance is satisfactory, with modest growth overall. As we
develop the 2009 Preliminary Budget, the revenue estimates for 2008 will be revised to take
into account latest trends.
PARKS AND RECREATION FUND RESOURCES
Parks and Recreation revenues of $2,059,387 are at 50.6% of budget estimates through the
second quarter of 2008. This compares with last year's revenues for six months of $2,088,290 or
50.6 %. Utility Tax receipts on City —owned utilities amounting to $453,884 (41.1% of the 2008
estimate) have been transferred, to date, to the Parks Fund from the General Fund. The total
revenue is performing as expected in the first half of the year.
0 STREET AND TRAFFIC OPERATIONS FUND RESOURCES:
Street Fund revenues are $2,909,847 or 50.8 %. Fuel tax receipts are $627,264 or 43.9 %,
compared to $654,061 or 46.4% for the same period in 2007. This reduction below prior year
actual and budget is the result of escalating gas prices. This is a "per gallon" tax, therefore,
higher gas prices reduce total consumption. We are estimating this important source of --
revenue for street maintenance to remain below budget estimates by the end of the year. As of
June 30, 2008 Property Tax, the major revenue category in the Street Fund, is $2,233,535 or
52.9% of the total 2008 budget (as compared to 52.4% or $2,054,203 for the same period last
year).
Summary
Table II identifies the beginning balance, revenues and expenditures to date, and the ending
balance for each of the three General Government Funds. For 2008, at the end of the second
quarter, the Cumulative General Government Revenue is $29,550,108, compared to $28,092,513
at June 30, 2007. The increase of $1,457,595 or 5.2% can be attributable primarily to the growth
in sales tax, spurred by construction activity; an increase in intergovernmental revenues tied to
Public Safety; and revenues from new annexation areas (revenues from the Occidental
annexation were just beginning at the end of the second quarter of 2007).
III
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GENERAL GOVERNMENT EXPENDITURES
Table III summarizes expenditure activity on a departmental basis for General Government
budgets.
GENERAL FUND EXPENDITURES
General Fund budget data of interest include:
Police expenditures, $10,168,066 or 48.0 %, are below first quarter averages, because of position
vacancies, and a flattening of outside jail costs.
Information Systems expenditures are at $1,306,213 or 46.1% and are tied to the timing of
contract payments and project implementation.
Code Administration and Financial Services are both at 47.8 %, primarily due to vacancies and
related salary savings.
Legal has spent $685,541 or 50.6% through the second quarter, primarily due to the resignation
of the City Attorney. When future salary savings are considered, this Department is estimated
to stay within its total budget by year end.
Municipal Court, Engineering, and Utility Services are at 43.4 %, 41.3% and 46.5%
respectively, because of position vacancies.
Records expenditures of $267,846 or 54.6% include one -time payment of election costs of
$129,000.
City Hall Maintenance expenditures are $238,563 or 57.0% because the entire payment to the
Risk Management Fund to purchase property/boiler insurance was made in the first half of the
year.
Intergovernmental and SunDome expenditures are 65.3% and 53.3% respectively because of
the timing of payments to outside agencies. 2008 expenditures are anticipated to closely match
budget for the year.
City Council expenditures are $137,906 or 67.3% of budget, since the Association of
Washington Cities (AWC) dues of about $54,000 are paid in full in the first half of the year.
State Examiner expenditures are $4,753 or 4.6 %, a function of the timing of field work for the
2007 Financial Statement Audit. Total 2008 expenditures should come in at or slightly below
the original budget.
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;ur.
General Government Expenditures (Continued )
Urban Area Hearings Examiner totals $14,800 or 20.8% for the first half of the year. This
expenditure is variable, based on the number and complexity of cases brought before the
examiner.
All other General Fund Departments are close to the second quarter average of 50 %.
Summary:
In total, the General Fund is 48.1% expended through the second quarter, and is within
authorized budget levels.
Based on the actual beginning fund balance and budgeted revenues and expenditures
through June 30, 2008 the 2008 General Fund budgeted ending balance is projected to be $4.3
million or 8.9% of the amended 2008 expenditure budget.
PARKS AND STREETS EXPENDITURES
0 Parks expenditures are at 45.3 %, and Street and Traffic Operations expenditures are at 43.2%
to date. In both areas, many costs are seasonal in nature, and as the impact of summer
recreation and parks and street maintenance programs is accounted for, the associated
program costs should bring actual expenditure levels closer to budget by year —end, although
both budgets have position vacancies. Street and Traffic Operations has also made 100% of its
budgeted payments for its debt service obligations, along with the insurance payment to the
Risk. Management Fund.
Summary:
Overall, General Government expenditures are within budget estimates — 47.4% through
June 30, 2008. The 2008 expenditures to date of $27,761,775 are $1,658,066 or 6.3% greater than
the 2007 expenditures of $26,103,709. This increase is spurred by the implementation of the
Safe Community Action Plan (which was begun in the 3 quarter of 2007), along with
increased costs to serve the new annexations. Increases in mandated costs, such as
contributions to the state retirement system, along with other increased external private
sector costs, such as fuel, insurance (both medical and liability /property), maintenance parts,
and private utilities, continue to pressure basic service delivery. To offset these increased
costs, staff has made reductions in budgeted expenditures in other areas.
Additionally, revenues have also grown during this same time -frame; 2008 total revenue of
$29,550,108 is at 52.9% of budget. This results in a net revenue over expenditures of
• $1,788,333 through the 2nd quarter of 2008 (compared to $1,988,804 and $1,155,862 respectively
in 2007 and 2006). Management is making a concentrated effort to end 2008 expenditures
within current year revenues.
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OTHER OPERATING AND ENTERPRISE FUNDS
Table IV represents the status of the Operating and Enterprise Funds.
The Economic Development Fund has a fund balance of $165,547 at the end of the second
quarter. Expenditures are at $96,699 or 61.8% of budget. This expenditure budget is
earmarked for economic development projects, including the downtown renewal work plan.
Revenues of $39,571 represent the local city assistance from the state for economically
distressed communities.
The Neighborhood Development Fund shows a fund balance of $144,282 at the end of the
second quarter. Revenues are at $1,111,554 or 24.4% of budget, a function of the timing of
Federal Grant reimbursement and program income, while expenditures are $1,363,703 or 29.1%
of budget, a function of the timing of program expenditures.
Community Relations Fund revenues are $252,011 or 54.1% of budget through the second
quarter, while expenditures are $245,632 or 44.9 %; resulting in a fund balance of $846,351 at
June 30.
The Community Services Fund is being used to account for the Healthy Families Yakima
initiative. Revenues are $147,498 or 25.2% of the budget as of June 30, and program
expenditures are at $143,663 or 24.3 %. The program has begun an extensive media campaign,
and is continuing marriage education classes. The fund balance is $4,377 at the end of the
second quarter.
Growth Management Fund has a fund balance of $24,372 at June 30. This budget
accommodates grants to complete portions of the Comprehensive Plan in compliance with the
Growth Management Act.
Cemetery Fund revenues are $127,334 or 45.9% of budget through the second quarter.
Expenditures are $131,898 or 51.2 %. The fund balance at June 30 is $32,551.
Emergency Services Fund received $584,531 or 55.7% through the first half of 2008, and
expended $593,189 or 53.7 %, leaving a fund balance of $210,568. Expenditures include the full
year transfer for both insurance and equipment replacement.
Public Safety Communications Fund revenues are $1,328,233 or 53.3% of budget and
expenditures are $1,397,836 or 51.9 %. The resulting fund balance is $362,929 at June 30, 2008.
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• Other Operating and Enterprise Funds (Continued )
PBIA (Parking and Business Improvement) assessments and collections follow quarterly
cycles. Revenues are at $34,647 or 52.0 %, and this represents the final billing of the prior area.
Expenditures are $40,989 or 42.5% of budget. This fund will likely require an appropriation to
implement the maintenance program contemplated in the newly formed PBIA. The fund
balance at June 30 is $28,528.
Trolley (Yakima Interurban Lines) Operating Fund revenues are $214,361 and expenditures
are $210,072 or 44.8 %. This budget includes a grant for improvements to the Trolley Barn
which is currently in process. The balance at June 30 is $5,435.
Front Street Business Improvement Area revenues are $2,085 or 76.2% through the second
quarter. As there were no expenditures, the resulting balance is $8,265 at June 30, 2008.
Convention Center (Tourist Promotion) Fund revenues of $685,460 are presently at 49.4% of
budget. Expenditures are $733,840 or 52.0% of budget. The balance at June 30 is $113,704.
Historically, the first half revenues are lower than the rest of the year, because of the slowdown
in convention business and hotel /motel tax generated during the winter months. This fund is
anticipated to break even by year end.
Public Facilities District Fund revenues of $474,713 are 43.1% of budget. Expenditures are
III
$470,399 or 42.2 %. This fund includes the start -up of the new state sales tax credit to be used
for the Capitol Theatre expansion project. Through 6 months, the new credit had been
collected and transferred for 3 months. The fund balance at June 30 is $140,020.
Tourism Promotion Area Fund receipted and expended $151,648 or 41.0% of the 2008 budget.
Like hotel /motel tax, the tourism promotion fee is lowest in the first quarter through the winter
months. All fees collected are forwarded by contract to the Yakima Valley Visitors' and
Convention Bureau for promotion emphases. The ending balance at June 30, 2008 is $414.
Capitol Theatre Fund revenues are $148,813 or 48.9% of budget. Expenditures of $160,533 are
at 52.7 %, a function of timing maintenance projects around show schedules. The fund balance
at June 30 is $142,245.
Stormwater Operating Fund revenues are $811,789 or 76.9% of budget, while expenditures are
$366.591 or 35.1% of budget, because this new utility was in a start-up phase in the 1St half of
the year. The fund balance at June 30 is $445,198. The underlying revenue was billed on the
County property tax statements, with a majority received in April.
III
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Other Operating and Enterprise Funds (Continued )
1 110
Transit operations completed the second quarter of 2008 with revenues totaling $3,386,825 or
47.4% of budget, and expenditures at $3,738,737 or 52.6 %. The entire contribution for
insurance premiums was made in the first hall of the year. Additionally, the increase in the
price of diesel fuel has a significant impact in this budget. (An appropriation for fuel was
made in the 3 quarter). The operating fund balance at June 30 is $312,169.
Refuse expenditures are $2,085,398 or 47.1% of the budget through June 30, 2008. Total
revenues are at $1,964,843 or 46.7 %, because of the timing of the rate adjustment and billing
cycles. The fund balance at June 30 is $339,707.
Wastewater Operating Fund revenues are $7,591,248 or 47.1% of estimated levels, while
expenditures are at $8,472,265 or 51.0% of budget, which reflects the full repayment of the
Apple Tree bond and insurance. The fund balance at June 30 is $1,130,760.
Water Operating Fund revenues of $2,626,494 to date equal 39.1% of budget estimates, and
reflect the timing of the rate adjustment, billing cycles and historically lower water usage in
the winter months. Expenditures are at $3,608,062 or 49.5 %. The fund balance at June 30 is
$907,935.
Irrigation Fund revenues are at $1,259,141 or 49.1% of budget estimates. Expenditures are •
$1,391,085 or 52.2% through the second quarter —ditch charges were paid in the first quarter.
The fund balance at June 30 is $153,257.
The Equipment Rental Fund shows revenues of $2,718,261 or 48.9% of budget estimates,
primarily because of the timing of transfers in from other funds for additions to fleet. These
are typically done in the 2nd half of the year. Expenditures are at $2,780,407 or 52.8 % —a
function of timing of major fleet purchases. The fund balance at June 30 is $3,819,407.
Environmental Fund expenditures are $11,756 or 2.6 %. The fund balance at June 30 is
$565,121. This fund's revenue comes in primarily at the end of the year, and expenditures are
project based.
Public Works Administration revenues are $594,962 or 50.0% of budget through the second
quarter, and expenditures are $580,856 or 48.2% of budget over the same time period. The
fund balance at June 30 is $149,775.
Summary:
In total, Other Operating and Enterprise Funds have generated revenues of $26,256,022 or
45.3 %, while expenditures are at $28,775,258 or 48.0% of budget estimates through the first
six months of 2008. Overall, revenues and expenditures are performing as expecting through
this time frame.
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,, ,,,,,
ill CAPITAL FUNDS
Table V represents the status of our Capital Construction and Capital Reserve Fund balance.
The activity in the capital funds is dependent on the scope and timing of projects; therefore, the
percentage comparison to budget is not expected to reflect the percentage of the year
completed.
Several projects are under construction or approaching the construction phase in the Arterial
Street Fund. $7,365,987 is budgeted for construction projects during 2008 - -the major ones
being the 3 Avenue grind and overlay, 16th and Washington Avenue intersection
reconstruction, and the W.O. Douglas bridge and trail pathways. Revenue through June is
$384,603 or 5.4% of budget, and consists primarily of transportation grants, and an allocation of
gas tax. Expenditures, which are based on an approved project prospectus, are $1,107,121 or
15.0% of budget. The fund balance at June 30 is $325,464.
The Central Business District (CBD) Capital Fund includes the third phase of improvements
along Yakima Avenue, done as part of the Downtown Yakima Futures Initiative. Revenues of
$369,312 or 35.8% represent primarily a state grant, interest earnings, and the monthly parking
lot fees, while the. expenditures of $287,983 or 17.4% represents some close out costs for phase
II and preliminary planning for phase III. The balance at June 30 is $1,761,742.
®
The Capitol Theatre Construction Fund accounts for major capital projects proposed for the
Theatre. For 2008, these include 4 improvements to the existing facility funded by a capital
grant, and the beginning of the expansion project, consisting of utility relocation. Revenues of
$121,539 consist of the first 3 months collection of the newly established Public Facilities
District (PFD) sales tax credit, and related expenditures are $98,656 through the second quarter,
leaving a fund balance of $160,866 as of June 30.
Expenditures in the Parks and Recreation Capital Fund are at $55,324 or 4.2 %, while revenue
is $158,980 or 14.9% through June 30, leaving a balance of $577,479. Expenditures consist
primarily of improvements to the Harman Center parking lot and Franklin Pool. Other
budgeted projects include a skate park, a study concerning a potential new aquatic center, and
the development of upper Kiwanis Park which are in various stages of completion.
Fire Capital Fund expenditures through the second quarter of 2008 are at $260,993 or 20.6 %,
consisting primarily of the balance of the replacement pumper truck. Revenues of $262,344 or
20.0% have been received. The balance at June 30 is $558,105. The major project in this fund's
budget is the replacement of a ladder truck partially funded by a councilmanic general
obligation bond.
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Capital Funds (Continued )
•
Law and Justice Capital Fund revenues to date are $299,232 or 35.9% and expenditures are
$245,936 or 29.7% of budget. The fund balance at June 30 is $572,867.
The Public Works Trust Construction Fund was created to accumulate revenue received and
to track projects associated with the State Public Works Trust Loan Program. Revenue of
$531,251 or 51.3% of budget has been received through the second quarter and includes the
first quarter percent Real Estate Excise Tax (REET 1). Expenditures are $556,494 or 31.8% of
budget through the same period, and the ending fund balance is $2,002,565.
The Real Estate Excise Tax — Second quarter percent (REET 2) Capital Construction
Fund accounts for the second quarter percent Real Estate Excise Tax (REET 2). Through
the second quarter, $446,251 or 31.0% of the revenue budget have been received. There
have been expenditures of $139,913 or 6.9% out of this fund to date, as many of the
street maintenance programs were just getting started in the spring. The fund balance
at June 30, 2008 is $1,579,490.
The Local Improvement District (LID) Construction Control Fund is used to account for
resources and costs associated with LID projects. Projects are paid for through interest bearing
warrants redeemable at the end of the project either by pay -off's by affected property owners
or proceeds of bond sales. Therefore, this fund will carry a negative fund balance until active .
projects are completed. The balance as of June 30 is ($62,701).
The Transit Capital Reserve Fund collected revenues of $8,277 or 0.7 %. Concurrently,
expenditures of $325,728 have been made through June 30, 2008. (All Transit sales tax goes into
the operating fund until the grant is drawn down.) The current fund balance of $1,923,900
represents the reserve that the City Council has directed be set aside to provide funds for
capital projects and equipment.
The Stormwater Capital Fund received $100,000 or 50% of the revenue budget as a transfer
from the Stormwater Operating Fund. Expenditures consisted of $29,025 or 16.6 %, resulting in
an ending balance of $70,975 at June 30.
The Convention Center Capital Improvement Fund reflected a balance of $253,127 in the
Convention Center Reserve at the end of the second quarter of 2008. Hotel/Motel tax of
$31,750, a contribution from the Public Facilities District (PFD) of $30,500, and interest earnings
make up the revenue of $63,450. Expenditures were $26,983 or 25.1% as budgeted projects were
in various stages of completion.
At the end of the second quarter the Cumulative Reserve for Capital Improvement Fund
shows a balance of $218,971. Expenditures are $324,279 or 3.5% of budget, a result of project
timing, while revenues are $375,000 or 4.0% of budget. The major project budgeted in this fund
CJE /Finance Page 12
Rev /Exp 2nd Qtr Report .doc -- 09/11/08
41) Capital Funds (Continued )
is the Railroad Grade Separation. As this project is funded primarily by reimbursable grants, a
transfer of $200,000 of gas tax from the Arterial Street Fund was transferred into this fund in
2007 to provide cash flow for the project. Finance may still need to review options to provide
adequate cash flow during interim times between project payments and the receipt -of grant
reimbursements when construction begins.
The purpose of the Wastewater Facilities Capital Reserve Fund is to provide resources for
contingency modifications at the Wastewater Treatment Plant. Revenues of $140,925 to date
represent Sewer Operating Fund contributions, Sewer Service Agreements with Union Gap
and Terrace Heights, and investment income. Expenditures of $29,101 or 4.0% in 2008 are for
replacement of the digester Dystor covers. The fund balance at June 30 is $997,571. '
The Sewer Construction Fund, provides principally for off —site system improvements such as
new interceptor and trunk line extensions. The actual revenue of $1,033,872 or 71.7% consists
of a drawdown of a Public Works Trust Fund loan for the River Road project and a transfer
from the operating fund. Expenditures at the end of the second quarter amount to $117,726 or
5.6% of budget. Major projects in the 2008 budget include a sewer trunk line in the Congdon
annexation area, and sewer improvements in under- served neighborhoods. The fund balance
• at June 30 is $1,847,612.
In the Domestic Water Improvement Fund expenditures are $213,060 or 10.3% through the
second quarter. The 2008 budget includes phase 2 of the 2nd level reservoir pipeline
replacement / improvement, and a new well. Revenues are anticipated to be $1,708,000, and
include a Public Works Trust Fund loan, a transfer from the operating fund, and interest
earnings. To date, $350,000 or 20.5% of the budgeted revenue has been posted. The fund
balance at June 30 was $1,650,760.
The Wastewater Facility Project Fund ended second quarter 2008 with a fund balance of
$5,811,510. For 2008, budget expenditures of $7,187,473 are anticipated to continue
construction of capital improvements mandated by new NPDES permit requirements. Actual
expenditures through the second quarter of 2008 are $1,950,784 or 27.1% and revenues to date
are $6,427,954 or 80.6 %. The budgeted revenue of $7,972,467 is mostly made up of $5.5 million
of revenue bond proceeds; $1,265,000 of a Public Works Trust Fund loan for the ultraviolet
disinfection upgrade; and transfers from the Wastewater Operating Fund. Revenues through
the second quarter are $6,427,954 or 80.6 %, since proceeds from the bond issue have been
realized, along with a draw on the PWTF loan, and a portion of the operating fund transfers. .
The Irrigation System Improvement Fund revenues for the second quarter of 2008 amounted
to $457,147 or 49.1 %. $1,210,010 or 34.9% has been expended for system repairs, leaving a fund
0 balance of $3,758,408, consisting mainly of accumulated capital contributions. -
CJE /Finance Page 13
Rev /Exp 2nd Qtr Report.doc -- 09/11/08
•
RESERVE FUNDS
IP
Table VI illustrates the position of the City's Employee Benefit and Pension Reserve Funds.
The Unemployment Compensation Reserve is used to pay unemployment claims filed by
former employees. Through the second quarter, the City had actual expenditures amounting
to $91,798 or 68.1% of the 2008 budget. The first half of the year often has higher claim
experience because of the timing of utilization of permanent part -time employees. Revenue,
which is primarily from pro - rations to City operating departments, is $41,782 or 51.0% through
the second quarter. The current reserve balance is $409,781. The City operates a self - insured
program.
The Employees Health Benefit Reserve pays for group medical and dental claims for covered
City employees and eligible dependents. Revenues for this fund are primarily generated from
monthly charges for each covered employee which are paid by operating budgets through
assessments and through payments from active and retired employees and other persons who
are entitled to participate in the City's health benefit plan. Actual revenues through the second
quarter were $4,416,227 or 49.9% while expenditures of $4,043,024 or 43.4% were experienced.
The current fund balance is $3,886,878, before considering the required 15% reserve of
approximately $1,025,000, and meets self - insured reserve guidelines.
The Worker's Compensation Reserve provides for payment by the City of industrial insurance
medical claims and time loss payments for City employees who are injured while performing
their assigned duties. Through the second quarter, expenditures were $827,704 or 60.4% of
budget. Revenues, billed on an interfund basis, are at $539,984 or 41.8 %. The June 30, 2008
fund balance is $927,985 on a cash basis, without considering the liability of ongoing claims of
about $525,000. Because of the increase in costs compared to the revenue allocation, a
surcharge was included in the 2008 budget for operations experiencing high utilization, and a
rate increase of 10% is being proposed for the 2009 budget cycle.
The Wellness/Employee Assistance Program fund expenditures during the second quarter
were $45,803 or 36.2% of budget, leaving a balance of $95,936 at June 30, 2008. Revenues are
recorded at the end of the year as medical insurance savings from vacant positions.
Firemens' Relief and Pension expenditures are at $736,535 or 45.2% of budget through June 30,
2008. Revenue to date, which is largely dependent upon the flow of property tax receipts, is
$897,074 or 55.5 %. The second quarter balance at June 30 is $806,392.
CJE /Finance Page 14
Rev /Exp 2nd Qtr Report.doc -- 09/11/08
•
Reserve Funds (Continued )
General Contingency Reserves
Table VI also illustrates the position of the Contingency Reserve Funds of the City.
The General Contingency Fund has a $373,215 balance at June 30, 2008.
The Capitol Theatre Reserve is programmed to transfer $71,927 to the Capitol Theatre
Operating Fund to support its ongoing capital /maintenance expenses —half or $35,964 has been
transferred to date. Additionally, this fund is budgeted to extend an interfund loan of $500,000
to the construction fund, to complete the utility relocation portion of the Theatre's expansion
project. (This loan is proposed to be paid back upon the issuance of a General Obligation bond
in 2009.) This will be drawn down as the project is paid for in the capital fund. Revenues of
$10,044 are 33.5% of budget, and represent interest earnings on the reserve balance (often
received bi- annually). The fund balance as of June 30 is $549,150.
The Risk Management Reserve provides for payment of liability insurance through the City's
self- insurance program. The Reserve is funded by allocations from the various operating funds
of the City transferred at the beginning of the year, and interest earned by the fund. Revenue
to date amounts to $2,262,346 or 99.2% of budget. Expenditures, which encompass payment of
the City's self — insured liability program, broker fees, legal services, claims adjustment fees, and
payments for annual premiums on property and miscellaneous insurance, are $1,047,017 or.
43.7% of budget (the general liability annual premium of about $476,000 is paid in the third
quarter). The cash balance at June 30 is $2,253,292 with ut considering the liability for incurred
but unpaid claims of about $1.1 million. This reserve balance will be monitored for adequacy
throughout 2008, and may require enhanced contributions from operating funds.
Bond Redemption Funds
Table VII illustrates the financial position of the City's General Obligation and Revenue Bond
Funds. The timing of actual expenditures are a function of the terms of each bond and its .
related repayment schedule. (One general obligation bond fund temporarily has a negative
balance at the end of the second quarter, because of the timing of the debt service payment in
comparison to revenue collection).
CJE /Finance Page 15
Rev /Exp 2nd Qtr Report.doc -- 09/11/08
City of Yakima Table I
Page 1 of 2 General Government Resources 50.0%
3 Year Comparison - June 2008 Year to Date of Year
General Fund Resources: 2006 2007 2008
Percent Percent Amended Percent
To -Date Received To -Date Received Budget To -Date Received
Property Tax $4,111,462 57.3% $3,823,839 55.8% $7,327,8001 $4,213,982 57.5%
Criminal Justice Sales Tax Inc .3% 695,106 52.0% 704,392 49.1% 1,624,000 814,995 50.2%
Criminal Justice Sales Tax 402,327 51.3% 428,172 50.9% 909,000 450,309 49.5%
Sales Tax 6,161,547 50.4% 6,388,219 48.6% 13,675,000 6,735,016 49.3%
Franchise Tax
Nob Hill Water Assn. - -2.0% 10,050 31.4% 7,997 21.6% 43,000 11,716 27.2%
Natural Gas -- (2.0% 2005) 303,828 91.5% 0 0.0% 0 0 n/a
Total Franchise Tax 313,878 86.2% 7,997 21.6% 43,000 11,716 27.2%
Utility Tax
Pacific Power -- 6.0% 1,515,809 55.1% 1,543,116 53.8% 3,012,792 1,859,404 61.7%
Nob Hill Water Assn. - -14.0% 70,847. 32.1% 56,679 20.6% 300,000 82,967 27.7%
Natural Gas -- 6.0% (4% 2005) . 1,099,860 127.9% 1,127,148 75.1% 1,545,000 968,401 62.7%
Yakima Waste Systems -- 10.0% 174,580 49.7% 167,891 47.4% 348,000 162,144 46.6%
Cellular Telephone -- 6.0% 545,966 53.3% 573,460 50.4% 1,174,000 705,703 60.1%
Telephone -- 6.0% 610,074 46.6% 602,850 50.1% 1,240,000 586,283 47.3%
Water -- 14.0% 342,447 41.3% 350,803 42.3% 906,000 339,198 37.4%
Sewer -- 14.0% 857,907 49.6% 860,354 47.6% 1,939,000 888,938 45.8%
Refuse -- 9.0% 164,112 50.8% 170,867 50.3% 371,000 178,349 48.1%
Total Utility Tax 5,381,602 57.2% 5,453,168 52.9% 10,835,792 5,771,387 53.3%
Business License Tax 484,097 96.8% 487,207 97.4% 500,000 501,374 100.3%
Gambling Tax 500,698 46.8% 493,048 50.1% 951,000 479,979 50.5%
Dangerous Bldg Tax Assessment 8,287 n/a . 5,179 n/a .10,000 28,448 284.5%
Leasehold Excise Tax 3,246 1623.0% 4,983 2491.5% 200 2,095 1047.5%
Total Taxes 18,062,250 .57.3% 17,796,204 52.1% 35,875,792 19,009,301. 53.0%
Police Federal Grants 0 0.0% 49,761 29.3% 265,000 47,875 18.1%
Fire Federal Grants 0 0.0% 11,186 13.7% 70,000 48,000 68.6%
Criminal Justice Funds 119,914 31.0% 303,864 77.3% 424,150 304,328 71.8%
Liquor Excise Tax 169,278 52.9% 186,662 54.7% 393,000 201,741 51.3%
Liquor Profits 266,536 43.7% 332,256 55.1% 605,000 284,948 47.1%
School Dist. #7 Resource Officers 171,276 49.9% 171,276 49.9% 352,800 176,414 50.0%
Other Intergovermental 133,698 49.6% 144,539 54.9% 422,268 227,439 53.9%
Tot rgovernmental 860,702 38.1% 0,544 54.6% 2,532,218 1,290,745 51.0% ilo .
cje /wla 9/11/2008 Revenues Gen Gov -2008
• City Okima Table I
•
Page 2 of 2 . General Government Resources 50.0%
3 Year Comparison - June 2008 Year to Date of Year
General Fund Resources (Contd.) 2006 2007 2008
Percent Percent Amended Percent
To -Date Received To -Date Received Budget To -Date Received
Licenses and Permits $377,471 63.8% $503,516 63.9% $871,500 $488,471 56.0%
Charges for Service 2,056,242 50.1% 2,147,830 49.9% 4,461,293 2,402,236 53.8%
Fines and Forfeitures 638,126 48.5% 709,935 54.9% 1,378,700 819,304 59.4%
Misc. Revenue 457,035 72.3% 763,460 97.5% 942,700 526,901 55.9%
Non - Revenue 100,352 99.4% 8,701 870.1% 1,000 3,916 391.6%
Transfers From Other Funds , 75,000 68.2% 40,000 100.0% 40,000 40,000 100.0%
Capital Lease Financing 0 0 0 0
Total General Fund Revenue $22,627,178 55.7% $23,169,190 53.2% $46,103,203 $24,580,874 53.3%
Beginning Balance 4,762,269 100.0% 5,439,858 100.0% 5,302,179 6,250,708 117.9%
Total General Fund Resources $27,389,447 60.3% $28,609,048 58.4% $51,405,382 $30,831,582 60.0%
Parks & Recreation Fund Resources:
Property Tax 969,642 52.6% 1,015,521 52.4% 1,800,000 952,647 52.9%
Intergovernmental 41,787 49.1% 80,776 44.6% 174,700 60,183 34.4%
Charges for Services 393,381 49.3% 473,703 61.7% 799,465 489,560 61.2%
Misc. Revenue/Non- Revenue 99,819 49.0% 75,565 29.5% 188,270 103,113 54.8%
Transfers From Other Funds 450,225 47.0% 442,725 44.9% 1,105,000 453,884 41.1%
Total Parks /Rec. - Fund - Revenue $ 1,954,854 50 3% $2,088, -290 50.6% $4 $2,059,387 50.6%
Beginning Balance 479,487 100.0% 431,032 100.0% . 575,059 549,439 95.5%
Total Parks /Rec. Fund Resources $2,434,341 55.8% $2,519,322 55.3% $4,642,494 $2,608,826 56.2%
Street/Traffic Fund Resources:
Property Tax 1,744,709 52.6% 2,054,203 52.4% 4,220,202 2,233,535 52.9%
County Road Tax 272,654 0.0% 83,100 0.0% 0 5,363 0.0%
Fuel Tax - Street 599,804 48.4% 654,061 46.4% 1,430,000 627,264 - 43.9%
Other Intergovernmental 0 0.0% 5,394 0.0% 0 0 0.0%
Charges for Services 14,599 85.9% 11,579 68.1% 15,760 7,426 47.1%
Misc. Revenue/Non- Revenue 20,264 201.6% 26,696 44.5% 60,050 36,259 60.4%
Total Street/Traffic Fund Revenue $2,652,030 52.0% $2,835,033 50.6% $5,726,012 $2,909,847 50.8%
Beginning Balance 1,133,674 100.0% 1,064,222 100.0% 1,059,014 1,386,069 130.9%
Total Street/Traffic Fund Resources $3,785,704 60.7% $3,899,255 58.5% $6,785,026 $4,295,916 63.3%
Total General Government Resources $33,609,492. 60.0% $35,027,625 58.2% $62,832,902 $37,736,324 60.1%
cje /wla 9/11/2008 Revenues Gen Gov -2008
City of Yakima Table II
General Government Summary of Operations 50.0%
3 Year Comparison - June 2008 Year to Date Of Year
2006 2007 2008
Percent Percent Percent
Received Received Amended Received
To -Date Expended To -Date Expended Budget To -Date Expended
General Fund
Beginning Balance $4,762,269 $5,439,858 $5,302,179 $6,250,708
Revenues $22,627,178 55.7% $23,169,190 53.2% $46,103,203 $24,580,874 53.3%
Expenditures $21,255,263 59.6% $21,350,010 47.1% $48,057,459 $23,155,534 48.2%
Ending Balance $6,134,184 $7,259,038 $3,347,923 $7,676,048
Parks and Recreation Fund
Beginning Balance $479,487 $431,032 $575,059 549,439
Revenues $1,954,854 50.3% $2,088,290 50.6% $4,067,435 $2,059,387 50.6%
Expenditures $1,975,737 56.4% $1,939,844 46.2% $4,284,706 $1,941,844 45.3%
Ending Balance $458,604 $579,478 $357,788 $666,982
Street/Traffic Fund
Beginning Balance $1,133,674 $1,064,222 $1,059,014 $1,386,069
Revenues $2,652,030 52.0% $2,835,033 50.6% $5,726,012 $2,909,847 50.8%
Expenditures $2,847,200 59.0% $2,813,855 47.6% $6,171,683 $2,664,393 43.2%
Ending Balance $938,504 $1,085,400 $613,343 $1,631,523
Total General Government
Beginning Balance $6,375,430 $6,935,112 $6,936,252 $8,186,216
Revenues $27,234,062 54.9% $28,092,513 52.7% $55,896,650 $29,550,108 52.9%
Expenditures $26,078,200 59.3% $26,103,709 47.1% $58,513,848 $27,761,771 47.4%
Net General Government Balance $7,531,292 $8,923,916 $4,319,054 $9,974,553
111 • III
cje /wla 9/11/2008 Revenues Gen Gov -2008
Table III
0 City of Yakima
General Government Expenditures
2008 Budget vs. Actual
2008 2008
Amended Expenditures Unexpended Percent
Budget , To 6/30/08 Balance Spent
Police $ 21,194,224 $ 10,168,066 $ 11,026,158 48.0%
Fire 8,426,307 4,222,370 4,203,937 50.1%
Information Systems 2,834,751 1,306,213 1,528,538 46.1%
Transfers To Other Funds 2,192,535 996,225 1,196,310 45.4%
Code Administration 1,641,453 785,188 856,265 47.8%
Financial Services 1,453,768 694,446 759,322 47.8%
Police Pension 1,412,950 679,166 733,784 48.1%
Legal 1,354,666 685,541 669,125 50.6%
Municipal Court 1,289,964 559,412 730,552 43.4%
Engineering 1,154,464 476,952 677,512 41.3%
Utility Services 1,089,336 507,074 582,262 46.5%
Planning , 737,706 357,648 380,058 48.5%
0 Records 490,224 267,846 222,378 54.6%
City Manager 488,608 242,332 246,276 49.6%
Human Resources 465,627 229,291 236,336 49.2%
City Hall Maintenance 418,299 238,563 179,736 57.0%
Indigent Defense 385,000 180,000 205,000 46.8%
Intergovernmental 288,685 188,398 100,287 65.3%
Purchasing 271,231 120,058 151,173 44.3%
City Council 204,961 137,906 67,055 67.3%
SunDome 150,000 79,977 70,023 53.3%
State Examiner 103,000 4,753 98,247 4.6%
Urban Area Hearings Exam. 71,000 14,800 56,200 20.8%
Probation Services 25,000 11,676 13,324 46.7%
District Court 13,700 1,637 12,063 11.9%
Total General Fund $ 48,157,459 $ 23,155,538 25,001,921 48.1%
Parks & Recreation Fund 4,284,706 1,941,844 2,342,862 45.3%
Street & Traffic Ops. 6,171,683 2,664,393 3,507,290 43.2%
Total General Government $ 58,613,848 $ 27,761,775 30,852,073 47.4%
110 ._
cje 9/10/2008
Table IV
City of Yakima
Other Operating/Enterprise Funds
2008 Budget vs. Actual
Actual Revenue Appropriations
Beginning % % Ending
Other Operating/ Balance Amended Actual Re- Amended Actual Ex- Balance
Enterprise Funds 1/1/2008 Budget Revenue ceived Budget Expenditures pended 6/30/2008
Economic Development $ 222,675 $ 114,168 $ 39,571 34.7% $ 156,556 $ 96,699 61.8% $ 165,547
Neighborhood Development 396,431 4,563,480 1,111,554 24.4% 4,679,359 1,363,703 29.1% 144,282
Community Relations 839,972 466,100 252,011 54.1% 547,054 245,632 44.9% 846,351
Community Services 542 584,485 147,498 25.2% 590,107 143,663 24.3% 4,377
Growth Management 24,372 25,466 0 0.0% 49,745 0 0.0% 24,372
Cemetery 37,115 277,550 127,334 45.9% 257,599 131,898 51.2% 32,551
Emergency Services 219,226 1,050,213 584,531 55.7% 1,104,501 593,189 53.7% 210,568
Public Safety Communications 432,532 2,490,581 1,328,233 53.3% 2,691,381 1,397,836 51.9% 362,929
P.B.I.A. (Parking & Business Imp.) 34,870 66,600 34,647 52.0% 96,343 40,989 42.5% 28,528
Trolley 1,146 469,653 214,361 45.6% 468,619 210,072 44.8% 5,435
Front Street Business Imp. Area 6,180 2,735 2,085 76.2% 3,000 0 0.0% 8,265
Convention Center
(Tourist Promotion) 162,084 1,386,724 685,460 49.4% 1,410,662 733,840 52.0% 113,704
Public Facilities District 135,706 1,101,000 474,713 43.1% 1,114,424 470,399 42.2% 140,020
Tourism Promotion Area 414 370,000 151,648 41.0% 370,000 151,648 41.0% 414
Capitol Theatre 153,965 304,567 148,813 48.9% 304,737 160,533 52.7% 142,245
Stormwater Operating Fund 0 1,056,000 811,789 76.9% 1,045,506 366,591 35.1% 445,198
Transit 664,081 7,150,005 3,386,825 47.4% 7,112,376 3,738,737 52.6% 312,169
Refuse 460,262 4,209,470 1,964,843 46.7% 4,425,990 2,085,398 47.1% 339,707
Wastewater Operating 2,011,777 16,124,580 7,591,248 47.1% 16,609,719 8,472,265 51.0% 1,130,760
Water Operating 1,889,503 6,710,437 2,626,494 39.1% 7,294,587 3,608,062 49.5% 907,935
Irrigation 285,201. 2,562,950 1,259,141 49.1% 2,666,215 1,391,085 52.2% 153,257
Equipment Rental 3,881,553 5,564,401 2,718,261 48.9% 5,267,173 2,780,407 52.8% 3,819,407
Environmental 576,877 135,000 0 0.0% 454,750 11,756 2.6% 565,121
Public Works Admin. 135,669 1,189,940 594,962 50.0% 1,205,464 580,856. 48.2% 149,775
Total Other Operating Funds $ 12,572,153 $ 57,976,105 $ 26,256,022 45.3% $ 59,925,867 . $ 28,775,258 48.0% $ 10,052,917
cje 9/11/.
• .
• 0 1111V
City of Yakima
Capital Improvement Funds
2008 Budget vs. Actual
Actual Revenue Appropriations
- Beginning % % Ending
Balance Amended Actual Re- Amended Actual Ex- Balance
Capital Improvement Funds 1/1/2008 Budget Revenue ceived Budget Expenditures vended 6/30/2008
Arterial Street $ 1,047,982 $' 7,136,981 $ 384,603 5.4% $ 7,365,987 $ 1,107,121 15.0% $ 325,464
Central Business District Capital 1,680,413 1,030,800 369,312 35.8% 1,657,227 287,983 17.4% 1,761,742
Capitol Theatre Construction 137,983 1,308,353 121,539 9.3% 1,281,103 98,656 7.7% 160,866
Parks and Recreation Capital 473,823 1,065,000 158,980 14.9% 1,330,000 55,324 4.2% 577,479
Fire Capital 556,754 1,309,588. 262,344 20.0% 1,265,272 260,993 20.6% 558,105
Law and Justice Capital 519,571 833,000 299,232 35.9% 828,300 245,936 29.7% 572,867
Public Works Trust Construction 2,027,808 1,035,000 531,251 51.3% 1,752,702 556,494 31.8% 2,002,565
REET 2 Capital 1,273,152 1,440,000 446,251 31.0% 2,016,215 139,913 6.9% 1,579,490
LID Construction Control (37,413) 385,000 0 0.0% 385,000 25,288 6.6% (62,701)
Transit Capital Reserve 2,241,351 1,146,000 8,277 0.7% 2,407,652 325,728 13.5% 1,923,900
Stormwater Capital Fund 0 200,000 100,000 50.0% 175,000 29,025 16.6% 70,975
Convention Center
Capital Improvement 216,660 89,700 63,450 70.7% 107,682 26,983 25.1% 253,127
Reserve for Capital Improvement 168,250 9,380,100 375,000 4.0% 9,375,000 324,279 3.5% 218,971
Wastewater Facilities
Capital Reserve 885,747 152,000 140,925 92.7% 720,000 29,101 4.0% 997,571
Sewer Construction 931,466 1,441,350 1,033,872 71.7% 2,115,000 117,726 5.6% 1,847,612
Domestic Water Improvement 1,513,820 1,708,000 350,000 20.5% 2,065,200 , 213,060 10.3% 1,650,760
Wastewater Facility Project 1,334,340 7,972,467 6,427,954 80.6% 7,187,473 1,950,784 27.1% 5,811,510
Irrigation System Improvement 4,511,271 931,000 457,147 49.1% 3,463,400 1,210,010 34.9% 3,758,408
Total Capital Improvement Funds $ 19,482,978 $ 38,564,339 $ 11,530,137 29.9% $ 45,498,213 $ 7,004,404 15.4% $ 24,008,711
cje 9/10/2008
Table VI
City of Yakima
Reserves and Other Funds
2008 Budget vs. Actual
Actual Revenue Appropriations
Beginning % % Ending
Employee Benefit Balance Amended Actual Re- Amended Actual Ex- Balance
Reserves 1/1/2008 Budget Revenue ceived Budget Expenditures pended 6/30/2008
Unemployment Compensation
Reserve $ 459,797 $ 82,000 $ 41,782 51.0% $ 134,739 $ 91,798 68.1% $ 409,781
Employees Health Benefit
Reserve 3,513,675 8,856,940 4,416,227 49.9% 9,310,906 4,043,024 43.4% 3,886,878 (1)
Worker's Compensation Reserve 1,215,705 1,290,300 539,984 41.8% 1,369,838 827,704 60.4% 927,985 (1)
Wellness /EAP 141,739 115,000 0 0.0% 126,382 45,803 36.2% 95,936
Firemens' Relief and Pension 645,853 1,617,230 897,074 55.5% 1,630,203 736,535 45.2% 806,392
Total Employee Benefit
Reserve Funds $ 5,976,769 $ 11,961,470 $ 5,895,067 49.3% $ 12,572,068 $ 5,744,864 45.7% $ 6,126,972
Operating Reserves
Contingency $ 359,070 $ 75,000 $ 37,500 50.0% $ 300,000 $ 23,355 7.8% $ 373,215
Capitol Theatre Reserve 575,070 30,000 10,044 33.5% 571,927 35,964 6.3% 549,150
Risk Management Reserve 1,037,963 2,281,057 2,262,346 99.2% 2,396,668 1,047,017 43.7% 2,253,292 (1)
Total Operating Reserve Funds $ 1,972,103 $ 2,386,057 $ 2,309,890 96.8% $ 3,268,595 $ 1,106,336 33.8% $ 3,175,657
Other Funds '
Cemetery Trust $ 555,681 $ 26,000 $ 10,891 41.9% $ 20,000 $ - 0.0% $ 566,572
Pass Through Grants $ - $ - $ - $ - $ - $ -
(1) These fund balances exclude an accrual for incurred but not reported claims.
cje 9/10/ 1111
• • Toe II
City of Yakima
Bond Redemption Funds
2008 Budget vs. Actual
Actual Revenue Appropriations
Beginning % % Ending
General Obligation Bond Balance Amended Actual Re- Amended Actual Ex- Balance
Redemption 1/1/2008 Budget Revenue ceived Budget Expenditures vended 6/30/2008
L.I.D. Guaranty $ 79,682 $ 300 $ 76 $ - $ - $ 79,758
1994 G.O. Ltd. - Police & Streets 267,586 514,100 313,000 60.9% 517,938 38,969 7.5% 541,617
1995 G.O. Street, Parks & Fire 194,363 295,000 160,965 54.6% 293,788 29,394 10.0% 325,934
1997 G.O. Line of Credit 918 24,366 24,366 100.0% 25,284 25,284 100.0% 0
1996 G.O. LTD - Convention Center 59,062 431,000 187,220 43.4% 428,645 74,323 17.3% 171,959
1998 G.O. Street Bond 90,977 87,961 87,961 100.0% 178,938 178,938 100.0% 0
2002. G.O. Convention Center 150,482 460,000 230,000 50.0% 459,075 336,638 73.3% 43,844
2005 G.O. Parks and Recreation Bond 4,661 650,100 253,783 39.0% 650,101 360,150 55.4% (101,706)
L.I.D. Debt Service Control 20,477 191,000 23,456 12.3% 187,000 0 0.0% 43,933
Total General Obligation Bond
Redemption Funds $ 868,208 $ 2,653,827 $ 1,280,827 48.3% $ 2,740,769 $ 1,043,696 38.1% $ 1,105,339
Water /Sewer Revenue Bond Redemption
1997 Water Revenue Bond Reserve $ 269,207 $ 400 $ - 0.0% $ - $ - $ 269,207
1978 Revenue Bond Reserve 346,527 700 0 0.0% 345,827 202,564 143,963
Water /Sewer Revenue Bonds 109,529 547,595 273,892 50.0% 547,195 0 0.0% 383,421
Apple Tree Sewer Revenue Bond . 0 521,339 521,339 100.0% 521,339 521,339 100.0% 0
1997 Water Revenue Bonds 4,466 243,085 121,955 50.2% 243,060 90,128 37.1% 36,293
1978 Water /Sewer Revenue Bond 165,636 472,564 202,564 42.9% 638,200 9,100 1.4% 359,100
2003 Wastewater Bond Redemption 1 1,346,635 673,316 50.0% 1,346,635 330,816 24.6% 342,501
2003 Irrigation Bond Redemption 35,435 318,203 159,102 50.0% 318,203 106,601 33.5% 87,936
Water /Sewer Revenue Bond Reserve 962,700 2,500 0 0.0% 0 0 962,700
• 2003 Sewer Revenue Bond Reserve 828,650 0 0 0 0 828,650
Total Water /Sewer Revenue
Bond Redemption Funds $ 2,722,151 $ 3,453,021 $ 1,952,168 56.5% $ 3,960,459 $ 1,260,548 31.8% $ 3,413,771
cje 9/10/2008