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Home My WebLink About11/04/2024 08.E. First public hearing on the 2025-2026 Preliminary Biennial Budget for the City of Yakima. O F`} '� i4 �e+ i • 1.:4'" \r,..;:...Negor....?) k":` OR`OAA ID_1¢ BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 8.E. For Meeting of: November 4, 2024 ITEM TITLE: First public hearing on the 2025-2026 Preliminary Biennial Budget for the City of Yakima. SUBMITTED BY: Vicki Baker, City Manager Viren Mayani, Director of Finance and Budget SUMMARY EXPLANATION: This is the first public hearing prior to adoption of the 2025-2026 Preliminary Biennial Budget and provides members of the public an opportunity to provide input. ITEM BUDGETED: N/A STRATEGIC PRIORITY 24-25: A Resilient Yakima RECOMMENDATION: Conduct the public hearing. ATTACHMENTS: 2025-2026_Public Hearing_11.4.24_ 135 +'5 V lk, ,- ____ 2025-2026 , 0"/ ,______." ,,„.... „..,_____________„... „:-._---,--- 4. �G1. Priority Based -,,-- .....,-- t ok 4_ ,...- I Biennial Budget ,..10 c- Say 9 k �X4e�SeS lb Hearing • November 4, 2024 4 3 �' 7 • r 136 Yakima CityCouncil' s Selected Strategic Priorities -M A Safe&Healthy Yakima +oaa °.ufnon,.. �k> ��m ,oovom�o"m.w.fnfarbwi • A Safe Bit Healthy Yakima A Resilient Yakima o..,dstfxma.,vs m„.,f«,�„onos, • A Resilient Yakima _ •Buit°mons aaa°it'yt°�n.% a, _„ .e"na..s,osnv,o don...on o"a.ema •Adopt sonable dxigettng City of •o,v°rnfv end focus y,«o„o"oc elirvaiooment • • A Thriving Yakima •"a,drod..r.... .�d,�bM Yakima `°""p"' Strategic • An Engaged Yakima Priorities a AThr.ngo..to. xji Yakima .a.mre n.mx bust .Im� ,�fw.for M14. lanwitea Aga An Engaged Yakima •Pion-role an tore of o-evv image 1, 137 Page 2 General Fund Forecast General Fund-001,003,612 with Transfers-Including Revenue Loss Replacement 2025 2026 Projected Projected Beginning Balance $ 18,328,640 $ 11,476,129 Total Revenues 74,778,730 76,779,080 Total Expenditures 81,631,241 85,425,580 Est End Fund Balance $ 11,476,129 2,829,629 2025 Policy Rsv Amt-14.1%(Actual) 11,476,129 2026 Policy Rsv Amt-3.3(Actual) 2,829,629 Net Fund Balance $ — $ — 2025 Current ending balance of$11,476,129 is at 14.1%,bum rate is less than 2 months 2026 Current ending balance of$2,829,629 is at 3.3%,bum rate is less than a month 138 General Fund Forecast General Fund- 001, 003, 612 with Transfers - Including Revenue Loss Replacement 2024 2025 2026 YE Est Projected Projected Beginning Balance $ 13,197,529 $ 18,328,640 $ 11,476,129 Revenues Sales Tax 29,023,265 30,368,000 31,635,000 Utility&Franchise Taxes 21,551,207 21,729,567 22,204,342 Property Tax 8,807,406 8,985,965 9,119,285 Charges for Services 3,374,899 3,318,674 3,392,037 Intergovernmental Revenues 5,522,191 2,780,966 2,812,858 Other Taxes&Assessments 1,334,458 1,457,000 1,440,000 Licenses and Permits 1,723,150 1,810,750 1,835,750 Fines&Forf,Transfers,Misc 5,906,269 4,327,808 4,339,808 Total Revenues 77,242,845 74,778,730 76,779,080 Expenditures Salaries&Wages 44,032,906 47,244,977 49,958,741 Personnel Benefits 16,839,598 18,181,332 18,859,133 Supplies-Cons&Resale 2,133,165 2,247,037 2,261,637 Services&Payments 2,561,889 11,361,732 11,720,933 Capital Outlays 934,067 146,000 146,000 Debt Service 166,852 153,978 154,663 Transfers 5,443,257 2,296,185 2,324,473 Total Expenditures 72,111,734 81,631,241 85,425,580 Est End Fund Balance $ 18,328,640 $ 11,476,129 $ 2,829,629 Policy Rsv Amt-16.7% $ 12,042,660 $ 13,632,41% $ 14,266,072 Net Fund Balance $ 6,28 ,5 980 2 156 288 11 436 443 139 2025 General Fund REVENUES BY SOURCE EXPENDITURES BY CATEGORY $74,778,730 $81,631,241 Deficit: $(6,852,511) Utility&Franchise Taxes 29.1% Salaries&Wages 41114 57.9% Sales Tax 40.6% Personnel Benefits Property Tax 22.3% ' 12.0%li, ' Transfers Supplies for Fines&Forf,Transfers, Charges for Services 2.8% Consumption& Misc j 4'4% Debt Service& Resale 5.8% Ca ital Outla s Services&Pass- 2.7% Licenses and Other Taxes Intergovernmental 0 4p y Through Payments Permits Assessments Revenues 13.9% 2.4% 2.0% 3.7% 140 2026 General Fund REVENUES BY SOURCE EXPENDITURES BY CATEGORY $76,779,080 $85,425,580 Deficit: $(8,646,500) Salaries&Wages 58.5% Utility&Franchise Taxes 28.9% Sales Tax 41.2% Transfers Illo!„ 2.7% Property Tax Debt Service& 11.9% Capital Outlays 0.4% Fines&Forf,Transfers, Charges for Services Misc 4.4°/0 Services&Pass- 5.6% Intergovernmental Through Payments Personnel Benefits Licenses and Other Taxes& Revenues 13.7% 221% Permits Assessments Supplies for 2.4% 1.9% 3'7% Consumption& Resale 141 General Fund Expenditures vs Revenues (General Fund - 001, 003, 612) $90,000,000 $80,000,000 $70,000,000 $60,000,000 2018 2019 2020 2021 2022 2023 2024 2025 2026 Actual Actual Actual Actual Actual Actual YE Est Projected Projected *Expenditures 4-Revenues 142 General Fund EndingFund Balance vs PolicyReserve (Fund 001 Only-With Transfers) With ARPA Revenue Replacement —.....-•� $30,000,000 $20,000,000 $10,000,000 ♦ —s. • • • • $— ($10,000,000) ($20,000,000) ($30,000,000) ($40,000,000) ($50,000,000) 2023 2024 2025 2026 2027 2028 2029 Actual YE Est Budget Budget Projected Projected Projected —•—GF End Balance ♦-Policy Rsv Amt-16.7% 143 General Fund EndingFund Balance vs PolicyReserve (Fund 001 Only-With Transfers) Withor Rev Replan $30,000,000 $20,000,000 $10,000,000 $— ($10,000,000) ($20,000,000) ($30,000,000) ($40,000,000) ($50,000,000) 2023 2024 2025 2026 2027 2028 2029 Actual YE Est Budget Budget Projected Projected Projected -0-Policy Rsv Amt-16.7% ♦-GF End Bal without Rev Replacement 144 Citywide 2025 REVENUES BY SOURCE EXPENDITURES BY CATEGORY $305,209,832 031 Deficit: $(8,408,199) $313,618, Property Tax Services&Pass-Through Utility&Franchise 8.2% Supplies for Payments Taxes Consumption& 23.6% 7.6% - - Charges for Services Resale 20.9% 3.2% Sales Tax Personnel 14.0% Benefits M 15.2% Capital Outlays 25.0% Intergovernmental Revenues Other Taxes& 19.8% Assessments Fines&Forf, 2.3% Transfers,Misc Salaries&Wages Debt Service 26.1% 25.1% /° Transfers 1.9 Licenses and 6.0% Permits 1.1% 145 Citywide 2026 REVENUES BY SOURCE EXPENDITURES BY CATEGORY $274,977,299 448 Deficit: $(11,921,149) $286,898, Utility&Franchise Property Tax Supplies for 9.3% Consumption& Services&Pass-Through Taxes Payments Resale 8.7% 3.5% 24.6% Sales Tax r Charges for Services Personnel 15.9% 24.0% Benefits 17.2% Capital Outlays 17.2% Fines&Forf, Intergovernmental Transfers,Misc RepBier saxes& Salaries&Wages Debt Service 23.6% 14'Assessments 28.9% 2.0% 2 6% Transfers Licenses and 6.6% Permits 1.2% 146 Citywide Expenditures vs Revenue $350,000,000 $300,000,000 $250,000,000 �" V'' $200,000,000 $150,000,000 2018 2019 2020 2021 2022 2023 2024 2025 2026 Actual Actual Actual Actual Actual Actual YE Est Projected Projected f Expenditures ♦Revenues 147 ARPA Projects Update Activity Statu s1Balan ce Convention Center Support Completed Domestic Violence Advocate Completed Police Cars(57) Completed 3-Fire Engines.2-Rescue Vehicles, 3-Command Vehicles, 1-Tech Rescue Vehicle Completed Budgeted in GF (IT)to be Technology completed in 2025 Acquisition of the former BOA building Completed MLK Aquatic Ctr. $1_5M capital fund $719K Aquatic Center at M LK Jr. Park(capital and operating) operating fund PENDING:Acquisition of the Chamber Building Budgeted in General Fund PENDING:YWCA Budgeted Overtime Completed LIFT match for Mill Site Budgeted in fund 323 Former Nelson Dam Phase 1 Unfunded Future City Hall Unfunded M ill Site Phase 2 Unfunded U nderserved water& Sewer U nfunded Balance in GF salaries for 2024 Completed 148 Systemic Change Impacting The Budget COLA Inflation (2024) Worker's Comp Medical Insurance Collective Bargaining 1 .. Capital Facilities Recruitment/Retainage of Employees 149 Page 14