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Home My WebLink About11/19/2024 08.D. Second public hearing on the 2025-2026 Preliminary Biennial Budget for the City of Yakima r:- `y 7 ljlt ii! .s BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 8.D. For Meeting of: November 19, 2024 ITEM TITLE: Second 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 second public hearing prior to adoption of the 2024-2025 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 and accept public comment. ATTACHMENTS: 2025-2026 Public Hearing 11.19.24 JT.pptx 182 ilFriirliki,:\ ,,,,,copr„) t 'a; .41\41, , .....om • ,, \1 111t , . � 2025-2026 ' „<=__________ ___, ,,\ , _____, „.________„.. _ ---.. .---..------- 4-_ 1MDGA - Priority Based ie— " I Biennial Budget c- Sav 9 \ " \ r r a5 6 — r .xVehs" Public Hearing \` Al 2 3' Jr ,.- November 14, 2024 ,` 0 r 183 Yakima CityCounciI 's Selected Strategic Pri orities M A Safe&Healthy Yakima . /y U� .HMuce to rwntaei or P.od.living In the streets V a rw,ucnmimaucnmo-c •rocmnp mr a p,e t t 0 wen sugh[y Rn a •Px.a on hre Prevuntwn through doa+Rn arc • A Safe & Healthy Yakima „a�a�, A Resilient Yakima •Frayr,.tula.nne mnntern ipbust A Resilient Yakima m;,eTraetpre • •Sn hue city processes •ezpa capttrty to tlolncr on budgeted { City o 1 O •nxP ea and locusble cn econg practices •de a lop end taus m xp+wmc ment •BPdd end leverage local and te6mrarnl • A Thriving Yakima Yakima coalitions Strategic • An Engaged Yakima Priorities a AThri>yigYakima •Redoce homelessness .B..emra ,rx,n.rran„� m buse destination ea •Promote Yakima s unique culture •May mire current assets in the C011.01111y •k.aos.1 PP.rtrann..r.r youth and lelnl+ee •Become a connected community �QQ An Engaged Yakima w'�� •t ester CM,vonman. •Promote n paa,ye community image •Oeeelop a col tore at lxro•way � � cernmunl[alnan -. `y A Page 2 184 General Fund Forecast General Fund - 001, 003, 612 with Transfers -Including Revenue Loss Replacement 2025 2026 Projected Projected Beginning Balance S 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 Aint-14.1%(Actual) 11,476,129 2026 Policy Rsv Arnt-3.3%(Actual) 2,829,629 Net Fund Balance $ — $ — 2025 Current ending balance of$11,476,129 is at 14.1%,burn rate is less than 2 months 2026 Current ending balance of$2,829,629 is at 3.3%,burn rate is less than a month 185 General Fund Forecast General Fund - 001 , 003, 612 with Transfers - Including Revenue Loss Replacement 2024 2025 2026 YE Est Projected Projected $ 11,4/6,129 Beginning Balance $ 13,197,529 $ 18,328,640 Revenues 31,635,000 Sales Tax 29,023,265 30,368,000 22,204,342 Utility& Franchise Taxes 21,551,207 21,729,567 9,119,285 Property Tax 8,807,406 8,985,965 3,392,037 Charges for Services 3,374,899 3,318,674 2,812,858 Intergovernmental Revenues 5,522,191 2,780,966 1,440,000 Other Taxes&Assessments 1,334,458 1,457,000 1,835,750 Licenses and Permits 1,723,150 1,810,750 4,339,808 Fines &Forf, Transfers, Misc 5,906,269 4,327,808 76,//9,080 Total Revenues 77,242,845 74,778,730 Expenditures 49,958,741 Salaries &Wages 44,032,906 47,244,977 18,859,133 Personnel Benefits 16,839,598 18,181,332 2,261,637 Supplies- Cons & Resale 2,133,165 2,247,037 11,720,933 Services & Payments 2,561 8 9 11,361,732 - 146,000 Page 4 Capital Outlays 934,067 146,000 154,663 186 2025 General Fund REVENUES BY SOURCE EXPENDITURES BY CATEGORY $74,7783730 $813631 ,241 Deficit: $(6,852,511) Utility&Franchise Taxes 29.1% Salaries & IN ages Sales Tax 40.6% --- Personnel Iycnctit5 Property Tax � 22.3"„ 12.0' , Transfers Supplies for Fines&Forf,Transfers, /27 Charges for Services �� (onsumption & 4'4°° Resale Debt",en. & 5.8% Serx'icts& pass- 1.70„ Licenses and Other Taxes Intergovernmental (apitalOut]ays Through PaNmoms Permits Assessments Revenues 0,4 ° I3.0 2.4% 2.0% 3.7% 187 2026 General Fund REVENUES BY SOURCE EXPENDITURES BY CATEGORY $76,779,080 $85,425,580 Deficit: $(8,646,500) Salaries&Wages 58.5°0 t_ti'it\ & F:anihi,, .,.:r ',II, Li s Transfers 2.7% Property.1�� Debt Service& i t.y"„ Capital Outlays 0.4% E ines Fort,Transfers'f Chirges for Service 'll Se }', ervics&Pass- �.6"„ intets,o\Einmcntal Through Payments Personnel Benefits t icenses and Other la xes& 13.7% o ['er�nitti �sscssments t`rx`nne,, Supplies for 22.1/0 -.i,„ 1 90„ ' ��'' " Consumption& Resale 188 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 4- Expenditures 4- Revenues 189 General Fund Ending Fund Balance vs Policy Reserve (Fund 001 Only - With Transfers) With ARPA Revenue Replacement $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 —•—GF End Balance —•— Policy Rsv Amt-16.7% Page 8 190 General Fund Ending Fund Balance vs Policy Reserve (Fund 001 Only - With Transfers) Without ARPA Revenue Replacement $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 —•—Policy Rsv Amt-16.7% —•—GF End Bal without Rev Replacement Page 9 191 Citywide Proposed 2025 REVENUES BY SOURCE EXPENDITURES BY CATEGORY $305,209,832 $313,618,031 Deficit: $(8,408,199) Property Tax Seri ices& I'ass-I hrough Utility&Franchise 8 2% Supplies for I'aNntents Taxes Consumption & � ll 23.G 7 6% Charges for Services Resale 20.9'. 3?", Sales Tax Personnel 14.0`io Benefits Capital Outlatis I Intergovernmental Revenues Other Taxes& I 19.8% Assessments Fines&Forf, 2.3% Transfers,Misc Salaries& 11'agrs I)rbt Scrticc 26.1% 2,.1"„ 1.9% I rans!ers Licenses and 6.0 Permits 1.1% 192 Citywide Proposed 2026 REVENUES BY SOURCE EXPENDITURES BY CATEGORY $274,977,299 $286,898,448 Deficit: $(11,921,149) t.tilitc l r�nchi5e Prr+}ler ; i : Supplies for ,!. Consumption& Services&Pass Through I.i v c, Payments Resale ti 3S°<<> 24.6°% 5aleti Iae Chr_,es I‘r �tr‘,irca Personnel I—s) 't._) Benefits 17.2% t. Capital Outlays I • 17.2% 1 Irltergm.ernmentaI lrrlcs ` Irlr(, r T r misters, Alist Rev ,r ue,, Debt Service S, trier I aw,,k Salaries&Wages 21 6"„ 1 t.i 28.9% 2.0°1° Nssess rile tits t„ Transfers Licenses and 6.6% Permits 193 Citywide Expenditures vs Revenue $350,000,000 $300,000,000 ` 4100.11.111. $250,000,000 $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 4- Expenditures -0- Revenues limo- 194 Systemic Change Impacting The Budget COLA Inflation (2024) Worker's Comp Medical Insurance Collective Bargaining Capital Facilities 44 Recruitment/Retainage of Employees Page 13 195