HomeMy WebLinkAbout04/05/2011 07 2010 Year-End Budget Revenue & Expenditure Report BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
0 Item No.
For Meeting Of : April 5, 2011
ITEM TITLE: 2010 Year -End Budget Revenue & Expenditure Report
SUBMITTED BY: Dick Zais, City Manager
Rita DeBord, Finance Director
Cindy Epperson, Deputy Director of Accounting & Budgeting
CONTACT PERSON/TELEPHONE: Dick Zais, 575 -6040
Rita DeBord, 575 -6070
Cindy Epperson, 575 -6070
SUMMARY EXPLANATION:
As previously projected, actual 2010 budget performance was effectively managed in the midst
of an economic downturn and overall departmental expenditures have again been restrained
below authorized budget levels. As a result of these factors, the City's final year -end 2010
financial position stayed within minimum guidelines. : General Fund .revenues were $48.4 million
- under budget by about $230,000 (or 0.5 %). In addition, expenditures of $48.5 million were
contained below budget by $1.8 million (or 3.5 %), as a result of strict cost control measures
implemented by City Management in mid -2010, which included salary savings from position
vacancies and a 5 -day furlough of non - emergency personnel. The General Fund only used about
$117,000 of reserves in 2010, but still ended with a balance of $4.5 million, which is 9.3% of the
2011 adopted budget.
411 Parks and Streets funds the other tax-supported funds) both curbed expenditures pp ) penditures in response to
dropping revenues. The net result for the 3 General Government funds was a use of reserves of
slightly over $440,000, from $6.4 million to $6.0 million. After encumbrances for projects, goods
and services that were included in the 2010 budget but not received or completed by year -end
are carried forward (about $414,000), the ending reserve balance is about $5.6 million.
Continued...
Resolution Ordinance Contract Other (Specify) 2010 Year -End Report
Funding Source: NA ��
APPROVED FOR SUBMITTAL: \ . -
City Manager
STAFF RECOMMENDATION: Accept Report
BOARD /COMMISSION /COMMITTE RECOMMENDATION: A preliminary version of the 2010
Year End Report was presented to the Budget Council Committee at their February 23, 2011
meeting.
COUNCIL ACTION:
•
2010 Year -End Budget Revenue and Expenditure Report Agenda Statement — Continued
Even though a national recession was identified as beginning in December, 2007, Yakima's 11)
general economy started softening in mid -2008, although not as severely as some governments
in the state and nation. Sales tax and permit fees dropped substantially in 2009 and continued at
the lower levels through 2010. Even though the revenue stream has seemed to flatten and begin
to improve, future revenue growth is not expected to increase at the same pace as the recent
past. In the absence of sustained growth in City revenues, Council has adopted an austere 2011
General Government budget, to maintain a balanced budget and acceptable reserves. Since the
beginning of the economic downturn, the City has reduced its authorized permanent budgeted
positions by 42, representing approximately 80,000 hours of work annually. The Council Budget
Committee is continuing to review the sustainability and prioritization of City services, following its
"Priorities of Government" budget model adopted by the full Council in mid -2009.
Total 2010 actual expenditure for all funds was $171.3 million compared to the 2010 amended
budget of $205.5 million -- $34.2 million or approximately 16.6% Tess than the City Council's
authorized appropriation level, primarily due to deferred spending for major Capital Improvement
Projects, which are or will be re- budgeted for 2011. All other funds ended 2010 with fund
balances at expected /acceptable levels.
Conclusion:
Given the current state of the local and national economy, the state of the worldwide affairs and
the related potential impacts to all government entities, City management has taken a strict and
conservative approach to budgeting of revenues and continues to maintain tight controls on
expenditures. Overall, the 2010 year-end fiscal position reflects that the City of Yakima was able
to effectively manage its economic environment.
MEMORANDUM
April 1, 2011
TO: The Honorable Mayor and
Members of the City Council
FROM: Dick Zais, City Manager.
Rita DeBord, Finance Director
Cindy Epperson, Deputy Director of Acct & Budget
SUBJECT: 2010 Year -End Budget Revenue and Expenditure Report
11) In accordance with past practice, we are submitting for your review, the City of Yakima's
2010 year -end actual compared to budgeted Revenue and Expenditure Report for both
Operating and Capital Budgets. Balances shown are subject to final adjustments made as a
result of the year -end closing process, which will not be officially concluded until the State
Auditor's work is completed. We do not, at this time, expect that any adjustments will
materially affect the balances represented in this report.
Year -end information is reported by fund, in the following order:
• City -Wide Overview
• General Government Budget Results
• Other Operating / Enterprise Funds
• Capital Funds
• Reserve Funds
• Operating Reserves
• Bond Redemption Funds
• Conclusion
of 25
Year -End Report 2010.doc 1
•
•
This page was intentionally left blank.
11111
Year -End Report 2010 2 of 25
CITY -WIDE OVERVIEW
0
As previously projected, actual 2010 budget performance was effectively managed in the
midst of an economic downturn and overall departmental expenditures have again been
restrained below authorized budget levels. As a result of these factors, the City's final
year -end 2010 financial position stayed within minimum guidelines.
The City of Yakima started to experience the national recession with a downturn in sales
tax during the last quarter of 2008. Cost containment measures in General Government
(i.e., tax - supported) funds have been implemented mid -year 2009, 2010 adopted budget,
and mid -year 2010 to address revenue reductions. The 2011 revenue budget was
developed based on projections that the revenues would flatten at the lower levels
experienced in 2010. This assumption for revenue resulted in additional budget reductions
for 2011, because of the increase in outside costs, such as fuel, and insurance (medical,
liability),-Through the first uarter of 2011; sales tax is slightly
_.._
property-and q above 2010 -
(about 3 %), and the final property tax levy should meet or exceed budget estimates,
depending on collection rates. Therefore, management is not recommending additional
cost containment measures at this time. The recent escalation in fuel prices was not
• foreseen prior to budget adoption, and a citywide appropriation will be coming to Council
mid -year, when the amount can be better quantified. The Council Budget Committee is
continuing to review the sustainability and prioritization of City services, within the
Council's "Priorities of Government" Model.
As illustrated in Chart I, General Government 2010 actual expenditures were $57,879,332
compared to the amended budget of $59,900,694 -- $2,021,362 or 3.4% less than budget
authorizations. Strict cost reduction measures, including a 5 day furlough, were
implemented in mid -2010, and were effective in achieving necessary savings. By
operational unit, the largest contributor to the positive variance in General Fund
expenditures is the Police Department, which had a significant reduction in outside jail
costs. The Parks and Recreation budget also experienced salary savings from vacancies,
along with the elimination of the Americorps program. Information Systems had several
projects in process, but not completed that helped create this variance in this calendar
year, but will be carried forward into the 2011 budget.
Total 2010 actual expenditures for all funds was $171,324,277 compared to the 2010
amended budget of $205,515,902 -- $34,191,625 or approximately 16.6% less than the City
Council's authorized appropriation level, primarily due to deferred spending for major
Capital Improvement Projects, which are or will be re- budgeted for 2011.
Year -End Report 2010.doc 3 of 25
Chart I •
CITY OF YAKIMA
2010 EXPENDITURE COMPARISON
(Budget vs. Actual — December Year -to -Date)
2010
Amended 2010 --- - - - --- Variance ---- --- - --
Funds ' Budget Actual Amount (1) Percent
General $50,257,377 $48,479,186 $1,778,191 3.5%
Parks and Recreation 4,218,655 4,062,236 156,419 3.7%
Street & Traffic Operations 5,424,662 5,337,910 86,752 1.6%
General Government Subtotal $59,900,694 $57,879,332 $2,021,362 3.4%
Neighborhood Development $5,705,566 $3,479,770 $2,225,796 39:0%
Utilities /Other Operating 61,644,587 57,392,043 4,252,544 6.9%
Capital Improvement 54,398,841 29,614,970 24,783,871 45.6%
G.O. Bonds/Notes 3,697,202 3,602,114 95,088 2.6%
Water /Sewer Revenue Bonds 2,863,042 2,863,042 0 0.0%
Employee Benefit Reserves 13,974,705 13,349,924 624,781 4.5% 0
Operating Reserves 3,316,265 3,133,032 183,233 5.5%
Trust and Agency Funds 15,000 10,050 4,950 33.0%
Total $205,515,902 $171,324,277 $34,191,625 16.6%
(1) Encumbrances: General Government encumbrances (which are not shown here) are $414,266 which
reduces that variance to $1,607,096 or a 2.7% variance from budget. Total encumbrances for all funds are
$3,642,184, which reduces the total variance to $30,549,441 or a 14.9% variance from budget. Most of this
variance is the result of the timing of capital projects. If the capital projects are removed from the
calculation, the remaining operating budgets were under spent by about 6.2 %.
III
Year -End Report 2010 4 of 25
GENERAL GOVERNMENT BUDGET RESULTS
all
In the City of Yakima, General Government is the term used to describe basic tax - supported
activities, which are included in three funds: General Fund; Parks and Recreations Fund; and
Street Fund. Chart II below summarizes actual performance compared to the amended budget for
each of these funds individually, and in total.
Chart II
CITY OF YAKIMA
2010 GENERAL GOVERNMENT PERFORMANCE
(Budget vs. Actual)
General Parks & Rec Street
Fund (1) Fund Fund Total
Beginning Balance
Amended Budget $4,612,886 $339,555 $1,461,266 $6,413,707
Actual Beginning Balance 4,612,886 339,555 1,461,266 6,413,707
(Gain) Loss 0 0 0 0 0
Revenue
IP Amended Budget 48,597,153 4,246,985 5,228,810 58,072,948
Actual 48,361,954 4,108,362 4,964,967 57,435,283
Gain (Loss) (235,199) (138,623) (263,843) (637,665)
Expenditures
Amended Budget 50,257,377 4,218,655 5,424,662 59,900,694
Actual .48,479,186 4,062,236 5,337,910 57,879,332
Difference 1,778,191 156,419 86,752 2,021,362
Revenues Over /(Under) Exp.
Amended Budget (2) (1,660,224) 28,330 (195,852) (1,827,746)
Actual (2) (117,232) 46,126 (372,943) (444,049)
Ending Balance •
Budgeted 2,952,662 367,885 1,265,414 4,585,961
Actual 4,495,654 385,681 1;088,323 5,969,658
Less: Encumbrances 378,640 0 • 35,586' 414,226
Net Balance $4,117,014 $385,681 $1,052,737 $5,555,432
(1) Actual General Fund expenses, including encumbrances, were $495,872 more than actual General
• Fund revenues.
(2) Estimated use of reserves at the time of 2011 budget Adoption was $1.5 million.
Year -End Report 2010.doc 5 of 25
The total General Government 2010 year -end balance, net of encumbrances, equals $5,555,432,
9.3% of the amended budget and $858,275 less than the beginning balance. The cash reserve •
position at the end of 2010 was $5,969,658, which is $444,049 less than the beginning balance.
Chart III presents a historical perspective of the total General Government reserve. In 2009, total
expenditures exceeded total revenues by $2,209,031, thereby dropping the reserve balance. The
2010 budget was adopted using about $1.48 million of reserves —the encumbrance ordinance of
about $350,000, and other appropriations of about $33,000 increased the reliance on reserves to
$1.83 million.
When the Budget Wrap -up document was presented at the end of November, 2010, the year -end
estimates had both revenues and expenditures coming in below budget, which produced a
projected ending balance of $1.5 million. Actual revenues were $282,000 more than the estimate
(primarily because of an unexpected annual utility tax remittance),while expenditures were
$770,000 below estimate, reducing the use of reserves by $1,052,000.
For the ten years prior to 2009, revenues have exceeded budget from a minimum of $536,000 to a
maximum of $1,984,000, annually averaging $1,340,000. During this same time, expenditures have
remained below budget in the range of $1,155,000 to $2,152,000, averaging $1,662,000. Therefore,
over the last decade prior to the "Great Recession ", an estimated use of reserves of about $3.0
million ended up being the "break even" level. 2009 was the first time in many years that revenue
did not even meet expected levels. Even though revenue estimates were reduced for 2010, the
economy continued to languish, so that revenues were again below budgeted levels. Over 2009
0
and 2010 cost containment measures held expenditure levels well below historical savings levels
to keep ending reserves within minimum guidelines.
Chart III
GENERAL GOVERNMENT RESERVES
USAGE AND BALANCE COMPARISON
(1) (2) (3) (4) (5)
2010 2010
2010 Wrap -up Actual
2009 Amended Year -End as of Variance
Actual Budget Estimate 4/1/11 (4 -2)
Beg. Reserve Balance $8,622,738 $6,413,707 $6,413,707 $6,413,707
Revenue 57,290,718 58,072,948 57,152,844 57,435,283
Total Resources 65,913,456 64,486,655 - 63,566,551 63,848,990 (637,665)
Expenditure Budget 59,499,749 59,900,694 58,649,705 57,879,332 (2,021,362)
End. Reserve Balance 6,413,707 4,585,961 4,916,846 5;969,658 (
% of Annual Expenditures n/a 7.7% 8.4% 10.3%
Incr. / (Decr.) in Res f/ Prior Year ($2,209,031) ($1,827,746) ($1,496,861) ($444,049)
% of Expenditure Budget n/a -3.1% -2.6% 0.8%
41110
(1) The appropriation for one -time encumbrances from the 2010 General Government Budget will utilize $414,226
of this actual beginning balance.
Year -End Report 2010.doc 6 of 26
Chart IV illustrates the General. Government Amended 2010 budgets in comparison to actual
0 results for major revenue categories and total expenditures. Immediately following this table is a
narrative review of the actual performance of our major resource categories.
Chart IV
CITY OF YAKIMA
2010 GENERAL GOVERNMENT REVENUE
(Budget vs. Actual - December Year -to -Date)
2010
Amended Actual Variance
GENERAL FUND Budget To -Date Amount Percent
Revenue
Property Tax $8,523,000 $9,190,326 $667,326 7.8%
Criminal Justice Sales Tax .3% 1,682,000 1,626,432 (55,568) (3.3 %)
Criminal Justice Sales Tax .1% 960,000 927,461 (32,539) (3.4 %)
Retail Sales & Use Tax 12,703,000 12,653,993 (49,007) (0.4 %)
Franchise Fees 42,000 44,520 2,520 . 6.0 %)
Utility Tax 12,340,000 11,991,269 . (348,731) (2.8 %)
Business License Tax 520,000 511,926 (8,074) (1.6 %)
Gambling Tax 928,000 843,004 (84,996) (9.2 %)
Dangerous Bldg Tax Assess. 35,000 4,927 (30,073) (85.9 %)
Leasehold Excise Tax 4,000 7,173 3,173 79.3%
Police Federal Grants 135,000 155,471 20,471 15.2%
Fire Federal Grants 0 27,000 27,000 n/a
Criminal Justice Funds 640,000 498,430 . (141,570) (22.1 %)
Liquor Excise Tax 405,000 420,824 15,824 3.9%
Liquor Profits 695,000 679,326 (15,674) (2.3 %)
School Resource Officers 370,440 291,150 (79,290) (21.4 %)
Other Intergovernmental 715,968 740,956 24,988 3.5%
Licenses and Permits 689,000 768,469 79,469 11.5%
Charges for Service 4,914,680 4,917,224 2,544 0.1%
Fines and Forfeitures 1,736,900 1,658,467 (78,433) .(4.5 %)
Misc. Revenue 511,294 363,606 (147,688) (28.9 %)
Non- Revenue 1,000 0 (1,000) (100.0 %)
Transfers From Other Funds 40,000 40,000 0 0.0%
Total Revenue $48,591,282 $48,361,954 ($229,328) (0.5 %) •
Plus: Beginning Fund Balance 4,612,886 4,612,886 0 0.0%
Total Resources $53,204,168 $52,974,840 ($229,328) (0.4 %)
Less: Expenditures $50,251,506 $48,479,187 ($1,772,319) (3.7 %)
Ending Fund Balance $2,952,662 $4,495,653 $1,542,991
, 0 Less: Encumbrances 0 378,640 378,640
Net Fund Balance $2,952,662 $4,117,013 $1,164,351
Year -End Report 2010 7 of 25
I
Chart IV (Continued...) •
2010
Amended Actual Variance
Budget To -Date Amount Percent
Parks and Recreation Fund
Property Tax $1,788,500 $1,665,500 $(123,000) (6.9 %)
Intergovernmental 147,700 139,555. (8,145) (5.5 %)
Charges for Services 946,365 930,907 (15,458) (1.6 %)
Misc. Revenue/Non- Revenue 247,420 221,835 (25,585) (10.3 %)
Transfers From Other Funds 1,117,000 1,150,565 33,565 3.0%
Total Revenue $4,246,985 $4,108,362 $(138,623) (3.3 %)
Plus: Beginning Fund Balance 339,555 339,555 0 0.0%
Total Resources $4,586,540 $4,447,917 $(138,623) (3.0 %)
Less: Expenditures $4,218,655 $4,062,236 $156,419 3.7%
Ending Fund Balance $367,885 $385,681 $17,796
Less: Encumbrances 0 0 0
Net Fund Balance $367,885 $385,681 $17,796
Street/Traffic Fund
Property Tax 3,708,000 3,375,700 • (332,300) (9.0 %)
•
County Road Tax 0 27;411 27,411
Fuel Tax - Street 1,200,000 1,253,503 53,503 4.5%
Other Intergovernmental 0 0 0
Charges for Services 215,760 227,461 11,701 5.4%
Misc. Revenue /Non- Revenue 105,050 80,892 (24,158) (23.0 %)
Total Revenue $5,228,810 $4,964,967 (263,843) (5.0 %)
Plus: Beginning Fund Balance 1,461,266 . 1,461,266 0 0.0%
Total Resources $6,690,076 $6,426,233 (263,843) (3.9 %)
Less: Expenditures $5,424,662 $5,337,910 86,752 1.6%
Ending Fund Balance $1,265,414 $1,088,323 (177,091)
Less: Encumbrances 0 35,586 (35,586)
Net Fund Balance $1,265,414 $1,052,737 ($212,677)
General Government Summary
Beginning Fund Balance $6,413,707 $6,413,707
Resources $58,067,077 $57,435,283 (631,794) (1:1 %)
Expenditures $59,894,823 $57,879,333 2,015,490 • 3.4%
Ending Fund Balance $4,585,961 $5,969,657 1,383,696
Less: Encumbrances 0 414,226 (414,226)
Net Fund Balance $4,585,961 $5,555,431 $969,470
Year -End Report 2010 8 of 25
General Government Budget Results (Continued...)
General Government Resources
In total, General Fund 2010 actual revenue was under the amended budget by $229,328.
Significant individual categories demonstrating changes from the amended budget included:
Utility Taxes — down ($348,731); Miscellaneous Revenue (primarily interest earnings) — down
($147,688); and Criminal Justice -State shared revenue — down ($141,570).
Property Tax is allocated in each budget cycle to General, Parks, Streets, Fire Capital Debt Service,
and Fire Pension funds. The Citywide budget for 2010 was $15,819,265, while actual collections
totaled $16,016,381, a variance of $197,116 or 1.2 %. Receipts were estimated to be negatively
impacted because of the crisis in the housing market, but actual collections ended up higher than
average.
It should be noted that Property Tax is the only major revenue source allocated to each of the
General Government operating funds. Therefore, when budget reductions were made in the
Parks and Streets funds, a re- allocation of property tax was used to balance these funds which
resulted in the variances displayed in the prior chart.
Sales Tax of $12,653,993 virtually flat compared to the 2009 actual of $12,623,990, and slightly less
than the 2010 budget. The downward trend in sales tax receipts started in the 4th quarter of 2008,
extending for 18 months into 2010. April 2010 was the first month of a slight upward turn. To put
ID this in historical perspective, 2006 actual sales tax was $12,698,230 —more than 2010 actual, 5 years
later. Even though the recession hit all areas of the country, it appears that the agricultural sector
has not been as negatively affected as many other sectors of the economy. Statewide, cities
experienced a steeper decline of almost 14% for the calendar year 2009 compared to 2008, and
stayed at the 2009 level for 2010. The actual receipts were slightly above the revised year -end
estimate. Criminal Justice Sales Tax distributions experienced similar trends. The 2011 budget
was conservatively developed assuming sales tax would not recover. However, sales tax is higher
than 2010 by about 3% through the first quarter.
Utility Taxes of $11,991,269 was below budget by ($348,731) or (2.8 %), ending up (0.4 %) less than
2009 actual. The natural gas utility taxes were under budget by (28.2 %), because weather patterns
and a rate decrease. The lower trend was noted during the budget development process, and
actual receipts were about $240,000 more than the final revised estimate. In general, utility taxes
vary because of usage fluctuations and /or rate adjustments.
Criminal Justice Funds received from the state experienced a reduction of ($141,570) from the
amended budget. The major component of this distribution is tied to the City's crime rate as
compared to other cities. Recent improvements in our crime rate dropped the city out of the high
crime formula as of July 2010, so that the distribution was greatly reduced in the 2nd half of the
year. This reduction was noted during budget development, so that the year end estimate and
2011 budget were reduced accordingly.
Year -End Report 2010 9 of 25
General Government Budget Results (Continued...)
School District #7 Resource Officers was reduced by Yakima School District because of its budget
udget
pressures. A vacant police officer position was reduced from General Fund to match this
reduction of a dedicated source of revenue.
Fines and Forfeitures was under budget by ($78,433) or (4.5 %). This revenue can fluctuate
depending on the deployment of the police department . This reduction was also noted early in
the year, and the year end estimate was reduced accordingly.
Miscellaneous Revenues consist primarily of interest earnings. Because of the downturn in rates
of return for eligible investments, 2010 ended ($147,688) below budget. This reduction was also
anticipated and included in the year end estimate.
The General Fund 2010 year -end balance was originally estimated to be $3,418,846 in the 2011
Adopted Budget. However, the net effect of some unanticipated revenue in excess of budget,
expenditure savings and outstanding unpaid purchase orders increased this balance by $1,076,807
to a total of $4,495,653. Bear in mind, however, that the 2011 budget has been amended to provide
for $378,640 in year -end encumbrances, (e.g., 2010 expenditures carry -over to 2011).
The General Fund revised balance for year -end 2011 is estimated to be $3,867,434, and is to be
maintained as a cash flow reserve, and as a reserve for unanticipated fiscal impacts, such as the
continuing reductions in revenues because of the ongoing recession and escalation in fuel
prices. After including encumbrances, a total of $628,219 has been used as a resource to balance
the amended 2011 budget, if needed. Note: The 2010 amended budget allocated $1,660,224 of
reserves to balance. However, even though the revenues did not reach estimates by about
$230,000, expenditures were curtailed by about $1.8 million so that General Fund only used
$117,000 to balance in 2010.
When the 2010 General Fund revenues (excluding beginning fund balances) are compared to prior
year, there is an increase of $766,255 or 1.6% from $47,595,699to $48,361,954, at the end of a
national recession (See Table I attached.) Although, if the reallocation of property taxes into
General Fund is not included in the calculation, total revenues only increased by about $311,000.
General Fund expenditures saw a decrease of ($1,315,441) or (2.6 %) from 2009 actual levels.
Several factors combined to create this decrease:
> A five -day furlough for most AFSCME and management /union exempt employees;
> A concentrated effort to reduce outside jail costs; and
> Other cost containment measures approved at the beginning of the 2010 budget cycle,
including the reduction of over 23 permanent positions.
Year -End Report 2010 10 of 25
General Government Budget Results (Continued...)
With revenues continuing to feel the ressure of the national recession and expenditures
P p
responding to the economic issues listed above, General Fund used reserves, but not to the extent
originally projected. However, it took directed budget constraints to accomplish this. Because of
the concern of ongoing sustainability of services, the Council Budget Committee continues to
review General Government operations. As 2011 unfolds, this committee will continue to review
the various dynamics that affect the budget. Staff will continue to monitor revenues and
expenditures.
Overall, General Fund Resources, which include the Beginning Fund Balance, were ($229,328) or
(0.5 %) less than the 2010 Amended Budget; and were within 0.7% or $348,188 above year -end
estimates presented in the 2011 Budget Wrap -up. General Fund expenditure savings, after
providing for year -end encumbrances and adjustments, amounted to $1,399,551 or 2.8% of the
authorized 2010 budget.
Parks and Recreation actual resources were ($138,623) or (3.3 %) less than the amended budget for
2010. Major components of this variance include the reallocation of property taxes back to
General Fund by an amount similar to the planned cost reduction measures. The transfer of
utility taxes slightly exceeded budget. Expenditures were below the authorized amended budget
for 2010 by $156,419 or 3.7 %. The year -end balance for the Parks and Recreation Fund of $385,681
40 is $46,126 more than the beginning balance.
The 2011 budget is virtually. balanced. Therefore, the Parks Fund revised balance for year -end
2011 is now estimated to be $387,229.
Street Fund resources were ($263,843) or 5.0% less than the amended budget with the reallocation
of property taxes being the major variance. Expenditures were under budget levels by 1.6% or
$86,752, as cost containment measures were offset by year end snow and ice control. The
year -end balance is decreased by $372,943 to $1,088,323.
After considering encumbrances of $35,586, the Street Fund's revised balance for year -end 2011 is
now estimated to be $1,056,043.
Chart V summarizes the actual status of General Government expenditures through year -end
2010, and compares these expenditures to amended budget authorization levels.
•
•
Year -End Report 2010 11 of 25
Chart V
•
CITY OF YAKIMA
2010
GENERAL GOVERNMENT EXPENDITURES
(Budget vs. Actual - December Year -to -Date)
2010 2010 Year -End Unexpended / Percent
Amended Expenditures Encum- Uncommitted Spent
Budget To 12/31/10 brances Balance Committed
Police $22,859,639 $22,045,777 $16,194 $797,668 96.5%
Fire 9,148,439 9,255,216 5,000 (111,777) 101.2%
Information Systems 2,589,406 2,217,763 339,398 32,245 98.8%
Transfers To Other Funds 2,402,275 2,412,206 0 (9,931) 100.4%
Code Administration 1,504,058 1,449,452 0 54,606 96.4%
Financial Services 1,460,278 1,350,881 4,548 104,849 92.8%
Police Pension 1,373,040 1,368,431 0 4,609 99.7%
Municipal Court 1,262,770 1,206,063 0 56,707 95.5%
Utility Services 1,256,127 1,119,629 0 136,498 89.1%
Legal 1,142,950 1,057,092 0 85,858 92.5% i s
Engineering 1,002,489 954,014 5,000 43,475 95.7%
Planning 768,484 699,196 0 69,288 91.0%
City Manager 518,563 502,075 0 16,488 96.8%
Indigent Defense 480,000 467,697 0 12,303 97.4%
Human Resources 467,478 431,156 0 36,322 92.2%
Records 445,728 422,071 0 23,657 94.7%
Purchasing 432,432 415,042 0 17,390 96.0%
City Hall Maintenance 404,486 380,399 0 24,087 94.0%
Intergovernmental 382,865 372,948 0 . 9,917 97.4%
City Council 207,265 197,013 0 10,252 95.1%
State Examiner 103,000 92,528 0 10,472 89.8%
Urban Area Hearings Exam. 45,605 62,537 8,500 (25,432) 155.8%
Total General Fund 50,257,377 48,479,186 378,640 1,399,551 97.2%
Parks & Recreation Fund 4,218,655 4,062,236. 156,419 96.3%
Street & Traffic Ops. 5,424,662 5,337,910 35,586 51,166 99.1%
Total General Government $59,900,694 $57,879,332 $414,226 $1,607,136 97.3%
•
•
Year -End Report 2010 12 of 25
General Government Budget Results (Continued...)
411 As the recession eroded General Government revenues, cost containment measures were put in
place in April. Many of the large positive variances are the result of these reductions, which
included a concentrated effort to reduce variable costs by doing such things as implementing a
furlough, holding vacancies and cancelling contracts.
Notable deviations from budgetary authorizations after including year -end encumbrances, were
as follows:
Police Department expenditures after encumbrances were below the amended budget by
$797,668 or 3.5 %, due primarily to savings from the successful implementation of measures to
reduce jail costs, and a few position vacancies.
Fire Department, the 2nd largest General Government budget, ended the year more than the
amended budget by ($111,777); expending 101.2% of its approximately $9.1 million budget. The
overages were the result of a combination of overtime caused by major fires throughout the year,
and unanticipated retirement /year -end cash -outs.
Information Systems came in $32,245 or 1.2% under budget primarily because of the manager's
position vacancy.
Transfers to Other Funds was over - budget by ($9,931), as the underlying utility revenue that is
the basis for a major transfer to Parks and Recreation came in a little better than expected.
Several operating divisions in the General Fund ended 2010 under budget primarily due to salary
savings and the 5 -day furlough:
• Code Administration had vacancies throughout the year, resulting in a savings of $54,606
from the 2010 budget.
• Financial Services spent $104,849 or 7.2% less than the 2010 budget, because of the
vacancy of a Financial Services Specialist (subsequently eliminated for the 2011 budget).
Additionally, there was turnover in other existing staff throughout the year.
• Utility Services ended 2010 under budget by $136,498 or 10.9 %, because of several
turnovers in the existing staff, and lower use of debit /credit cards to pay utility bills. Note:
This amount is reimbursed 100% by the utilities.
• Legal Department also experienced several vacancies, bringing expenditures $85,858 or
7.5% less than budget.
• Engineering was $43,475 or 4.3% under budget, attributable primarily to a retirement, and
reduced use of temporary staff.
Year -End Report 2010.doc 13 of 25
General Government Budget Results (Continued...) •
Planning experienced savings of $69,288 or 9.0% below the 2010 budget, consisting both of
vacancies and a reduced volume of land use change requests, which affected line items such as
postage, advertising and printing costs.
Human Resources spent $36,322 or 7.8% less than its 2010 budget, primarily because of the slow
down in recruitment expenses, as many vacancies were held open.
Records saved $23,657 or 5.3 %, because the municipal code update was less than anticipated.
Indigent Defense spent $12,303 or 2.6% less than the 2010 budget, which can vary dependent on
the number of appeals requiring indigent defense.
The Intergovernmental category typically ends a year close to the budgeted amount. However, in
2010, this is below budget by $9,917 because of program timing regarding the contract for the
community policing component of the federal Byrne grant.
City Council ended 2010 $10,252 or 4.9% below budget, mostly because of a concentrated effort to
reduce mobile communication and travel /training costs.
Urban Area Hearings Examiner exceeded budget by $25,432, as this cost is a function of the •
number and complexity of cases being brought before the examiner.
Parks and Recreation experienced a savings of $156,419 or 3.7% below budget, due primarily to
salary savings from vacancies, and the mid -year cancellation of the contract for the Americorps
program.
Street and Traffic Operations expenditures were $51,166 — 0.9% less than budget, primarily due
to salary savings.
•
Year -End Report 2010 14 of 25
OTHER OPERATING / ENTERPRISE FUNDS
Table IV attached depicts the City's Operating and Enterprise Funds.
The Economic Development Fund revenues of $123,669 consist mostly of the allocation approved
by the state legislature for economically challenged communities. Additionally, in 2009 the state
started to measure the "base" sales tax generated in the LIFT Redevelopment Area (i.e. Yakima
Resources long -range plan). Although this revenue was historically recorded as general sales tax,
a portion of this sales tax (about $21,000) was allocated to this fund in 2010 to provide adequate
funding /match for planning efforts pertaining to this major economic development project. The
City also obtained County SIED funding of $25,000 for planning efforts related to North 1St Street
corridor revitalization. Expenditures were $223,983 or 94.8% of budget. This fund includes
professional services related to the HUD Section 108 loan program (such as appraisals, title
reports, etc.), and other economic development efforts. Additionally, a small portion of the
Community & Economic Development administrative staff costs are allocated to this budget. The
ending fund balance is $198,520, which will continue to be used to support programs which
promote economic development.
The Neighborhood Development Fund ended 2010 with a fund balance of $311,989. Actual
expenditures equaled $3,479,770 - 61.0% of budget, and revenues amounted to $3,414,456 - 61.5%
of amended budget. Because of the timing of project costs, this fund typically is underspent in
comparison to total grant authority in any particular year. The encumbrance ordinance included
$1,921,315 to carry - forward into the 2011 budget, which represents the unspent balance of Federal
grants awarded in 2010 and prior. The single family home rehabilitation programs and support
for infrastructure improvement are major components in the unspent balance.
Community Relations revenues of $521,986 were 109.4% of the amended budget, because cable
franchise fees were 10% more than originally estimated. Expenditures equaled $513,131 - 91.4%
of the 2010 amended budget authorization which is tied to the timing of equipment replacement.
The year -end fund balance of $901,959 includes the carry forward of capital grant resources from
the cable TV franchise provider, per contract.
The Community Services Fund includes the Healthy Families Yakima grant funded program.
Expenditures of $64,387 were 31.1% of budget, because of a slow down of in -kind donations and
available grant match. Revenues of $74,348 consist of grant reimbursements and donations. The
ending balance is $15,560. The program is in its final year, and every effort will be made to secure
donations to match the entire remaining balance of the grant, to maximize the grant dollars and
the positive influence in the community.
Growth Management Fund has a year -end balance of $23,116. The only activity contemplated in
this fund relates to grant- supported growth management planning projects, with one substantially
completed in 2010, and one rebudgeted in 2011. The cash balance is restricted as program/local
match for these grants.
Year -End Report 2010.doc 15 of 25
Other Operating / Enterprise Funds (Continued...)
II/
Cemetery Fund revenues were $240,059 - 98.5% of amended budget estimates and expenditures
equaled $245,460 - under the amended budget by 95.8% or $10,695. The year -end Cemetery fund
balance is $81,766. Revenues included a subsidy of $50,000 from the Parks and Recreation Fund
that was required to maintain an adequate fund balance.
Emergency Services Fund actual revenues equaled $1,094,658 - 102.9% of budget estimates. The
EMS levy is an allocation of the countywide property tax based on population and call volume.
Expenditures equaled $1,093,525 - 98.5% of budget. The year -end balance is $64,512.
Public Safety Communications revenues were $3,060,384 - 100.8% of budget and expenditures
equaled $3,068,448 - 99.1% of budget, primarily due to temporary position vacancies. The ending
fund balance is $248,819, which is an 8.5% reserve — within guidelines.
Police Grants fund was opened in 2009 in order to account for narcotics forfeitures upon the
dissolution of the City - County Narcotics Unit (CCNU), and the federal ARRA police- related
operating grants. Both of these programs have extensive tracking /reporting requirements, and by
nature are variable so that isolating the programs outside of General Fund will assist in
accounting for applicable expenditures and reducing volatility in the General Fund. Grant and
program revenues in 2010 were $947,523, and expenditures were $914,321, leaving $331,146 as a
fund balance.
Parkin g and Business Improvement (PBIA) Fund actual revenues of $223,821 were 93.2% of S
budget estimates and expenditures were $204,638 - 85.3% of budget. The contract with the
Committee for Downtown Yakima calls for them to receive all DYBID receipts less administrative
costs. 2010 was also the first full year of parking enforcement in the City lots. The year -end
balance is $21,823.
Trolley Fund total revenue was $150,038 while expenditures were $150,422 or 52.4% of budget.
The year -end balance is $4,551. The budget included a reimbursable grant to refurbish the trolley
barn which will be carried forward into 2011.
Front Street Business Improvement Area (FSBIA) total revenue was $2,453 - 69.4% of budget and
expenditures for marketing/improving the area were $3,248. The year -end balance is $7,618.
Convention Center (Tourist Promotion Fund) actual revenues were $1,375,465 or 97.9% of budget
estimates, as the economic downturn affected Hotel/Motel tax and convention volume. Operating
expenditures came in at $1,442,044 - 98.2% of the amended budget for 2010. The year -end fund
balance is $178,564 or 12.2% of the budget.
Public Facilities District - Convention Center Fund realized revenues of $655,164 - 96.2% of the
2010 budget, as falling sales taxes affected this revenue. This was recognized early enough in the
year to reduce expenditures to $641,133 - 93.1% of budget, and below actual revenues. The
ending fund balance is $169,919.
Year -End Report 2010 16 of 25
Other Operating / Enterprise Funds (Continued...)
410 Tourism Promotion Area Fund receipts and expenditures amounted to $388,980 or 102.8% of the
2010 budgets. The ending balance at December 31, 2010 is $414. This fund does not build
reserves. Its purpose is to promote Yakima as a tourism destination, and all funds received each
month are forwarded to the Yakima Visitors and Convention Bureau for that purpose. Because
revenues exceeded budget by $10,775, expenditures also exceeded budget by the same amount.
Capitol Theatre Fund actual revenues of $270,822 were 87.4% of amended budget estimates
because of a drop in Cable TV Utility Tax, resulting from an allocation by the provider of revenues
associated with internet service in their bundled rates. Expenditures were $284,749. The balance
at year -end is $114,877.
Public Facilities District Capitol Theatre Fund realized revenues of $494,190 - 98.2% of the 2010
budget, as sluggish sales tax also affects this revenue. Expenditures which include transfers of
$22,000 to the Capitol Theatre construction fund and $460,000 to make required debt service
payments on the 2009 bond issue were $493,964 - 98.4% of budget, and below actual revenues.
The ending fund balance is $23,857.
Recovery Grants Program Fund was reactivated to account for Federal ARRA grants that cross
fund /functional boundaries. The City was awarded a Department of Energy grant for
conservation efforts in late 2Q09. About half of the grant award, or $387,011 was spent in 2010.
• Matching grant revenue is also recorded, so that there is no fund balance. The balance of grant
activity was included in the encumbrance ordinance, to be carried forward into 2011.
Stormwater Operating Fund concluded its third year of operations with revenue of $2,142,285 or
102.0 %. As this is being billed through Yakima County on the property tax bills, the better
collection rate on property taxes discussed previously applies to this revenue, too. Expenditures
were $1,801,236 or 82.2% of budget. The largest variance was in the area of Yakima County
regional administration, as the County received grants to defray a portion of their costs. This fund
also experienced salary savings from position vacancies, as the program is still in its start -up
phase, and allocation of personnel is still being balanced. The ending balance is $814,689, which
will be available for cash flow purposes, as the stormwater receipts follow the property tax cycle
(i.e. most receipts are in April and October).
Transit Operating Fund revenues of $7,320,959 were 0.7% less than budget estimates.
Approximately $4.2 million of Transit Sales Tax was allocated to this budget, while State and
Federal operating grants were $2.1 million. The remaining $1.0 million is derived from fares,
including the contract with Selah, vanpool, advertising, etc. Expenditures were $7,209,479 - 96.5%
of the amended budget. Most of this variance can be attributed to a reduction in usage of the Dial -
a -Ride program. The year -end fund balance is $784,710. The reduction in sales tax also affected the
transit program in 2010. However, the expenditure savings noted above still allowed for a
transfer to the capital fund, although less than 2009. This fund will be monitored closely in 2010 - -if
• sales tax continues to decline, service reductions may need to be implemented.
Year -End Report 2010 17 of 25
Other Operating / Enterprise Funds (Continued...)
Refuse Fund revenues were $4,930,512 - 102.6% of the budget estimate. Actual g ctual expenditures were
$4,802,640 - 99.7% of budget. The year -end fund balance is $348,549, which is 7.2% of budget, and
improved enough from the prior year to meet minimum guidelines.
Wastewater Operating Fund actual revenues equaled $18,018,785 - 4.5% above amended budget
estimates, notably from higher than anticipated connection charges and related new services.
Expenditures were $17,574,185 - 99.9% of authorized levels to maximize transfers to capital funds.
The year -end fund balance is $2,613,999.
Water Operating Fund actual revenues were $7,475,969 for 2010 - 101.2% of budget estimates,
driven by increased volume, and reimbursement for work done on capital projects. Expenditures
were $7,648,496 - 98.4% of authorized budget levels. The year -end fund balance is $1,938,292.
Irrigation Fund actual revenues equaled $1,903,641 - 68.7% of budget estimates. Expenditures
were $1,862,091 or 67.5% of budget. The budget was originally built to include a transfer to the
capital fund and debt service fund totaling $1.2 million in compliance with the capital charges
billed by the irrigation utility. When the new utility system was implemented in April, the capital
component of the irrigation rate was deposited directly into the capital fund, eliminating the
double budgeting. When this is taken into consideration, the operating fund was balanced, as
revenues slightly exceeded expenses. The balance at year -end was $323,314.
Equipment Rental Fund expenditures equaled $4,915,677 and were 94.5% of the amended budget.
•
Revenues of $5,056,071 were 101.5% of budget estimates, as actual costs and charges to the
operating divisions for fuel slightly higher than anticipated. One vehicle scheduled for purchase
in 2010 had not yet come in, and the encumbrance ordinance includes $295,875 to be carried
forward into 2011. The operating component of the budget was virtually balanced. The $4,370,748
year -end balance primarily represents the City's Equipment Replacement Reserve.
Environmental Fund revenues equaled $532,526 or 58.7% of budget estimates. Expenditures were
$388,824 or 33.2% of budget, as the dirt removal associated with Richardson Airway, and Airport
tank cleanup projects were both substantially completed and well below the original budget by
almost $500,000. The fuel capacity expansion project has been delayed, and the encumbrance
ordinance includes $68,000 to complete the airport projects, and $225,000 for the expansion
project. The year -end fund balance is $602,021.
Public Works Administration Fund actual revenue for 2010 was $1,176,239 - 99.2% of budget
estimates. Actual expenditures totaled $1,046,827 - less than the amended budget by10.9% as this
budget also participated in the mid -year furloughs, and was benefitted by a reduction in natural
gas rates. The year -end fund balance is $348,803.
•
Year -End Report 2010 18 of 25
Summary
Other Operating and Enterprise Funds generated revenues of 62 003 902 — 95.1% of budget
g � g $62,003,902 et g
estimates; expenditures equaled $60,871,813 and were 90.4% of the authorized budget. The Total
Other Operating Enterprise Funds carry forward fund balance is $14,844,135. (About $4.4 million
or 29% of this balance consists of the Equipment Rental Replacement Reserve.) In total, without
considering the Equipment Rental budget, the fund balances average about 16.8% of the budget,
or just slightly more than a 2 month operating reserve.
411
•
Year-End Report 2010 19 of 25
CAPITAL FUNDS
Table V represents the fiscal status of Capital Construction and Reserve Fund budgets for 2010.
The Arterial Street Fund reflects an actual expenditure level of 55.0 %, or $3,383,341 for 2010. The
major projects substantially completed in 2010 were the Nob Hill bridge repair; the signalization
at 66th and Summitview Avenues; and the William 0. Douglas Trail Projects. Incomplete projects
to be carried forward into the 2011 budget include Coolidge Avenue improvements; and the
reconstruction project at 16th and Washington Avenues. Revenue equals $2,703,591 or 90.8% of
budget estimates and is derived from Federal and State shared funds. Gas Tax funds were
slightly above budget, coming in at $586,000 compared to the budget of $550,000, while
expenditures are based on the timing of work done on an approved project prospectus. The fund
balance at year -end is $517,311.
The Central Business District (CBD) Capital Fund is used to account for comprehensive
downtown planning and redevelopment efforts. Expenditures in 2010 included the Phase IV of
Downtown Redevelopment/Pedestrian project, to be supported by State grants; and the contract
with the Committee for Downtown Yakima (CDY) for CBD maintenance. These totaled $1,048,433
- 90.0% of budget authorizations and revenue totaled $1,008,473 - 98.7% of budget, representing
grant reimbursement for Phase 1V and monthly parking permits. The year -end balance is
$391,994.
Capitol Theatre Construction Fund is used to account for g capital rants /im p rovements for the
p
Theatre. Revenues were $133,341 consisting primarily of contributions from the Capitol Theatre
Corporation (CTC) to accomplish certain portions of the expansion project, while expenditures for
the planned improvements to the production center were $4,439,534 or 97.1% of budget. The
project is substantially complete —any unspent appropriation will be carried - forward to 2011. The
balance at December 31 is $124,227.
The Parks and Recreation Capital Funds actual revenue equaled $562,526 or 76.7% -- (consisting
primarily of capital grants and community donations) while actual expenditures through year -end
2010 were $673,520 - 85.5% of the amended budget. The major project included in the 2010
budget is the development of upper Kiwanis Park. The unspent balance along with the applicable
financing is being rebudgeted for 2011. The year -end fund balance is $203,296.
The Fire Capital Fund experienced actual expenditures of $1,355,703 - 91.8% of budget, including
the balance of the new ladder truck, and the remodel of Station 94 (located at the Airport).
Revenues were $185,387 - 88.5% of budget estimates. The major components of revenue include a
transfer of $50,000 of REET 1, which can be used for Fire capital needs relating to
property/building improvements, but not rolling stock; and a transfer from the EMS Fund of
$75,000 to support apparatus replacement. The year -end balance is $253,164.
1111
Year-End Report 2010 20 of 25
Capital Funds (Continued...)
• Law and Justice Capital Fund revenue, which included an allocation of Local Criminal J ustice
Sales Tax receipts, was $840,726 or 81.0% of budget, primarily because of the rebudgeting of a
capital grant. Project and equipment expenditures (i.e. replacement vehicles, the Integrated
Public Safety System, etc.) were $895,634 - 77.2% of authorized levels. The fund balance at year-
end was $330,558.
The Public Works Trust Construction Fund accounts for the revenue generated by the first 1 /4%
Real Estate Excise Tax (REET 1) and expenditures (including debt service) for General
Government projects associated with the State Public Works Trust Fund Loan Program. Receipts
for 2010 totaled $604,570. Of this amount, about $517,000 represents REET 1 proceeds; and $75,000
are transfers from other funds for debt service. Expenditures were $910,805 or 76.4% of budget
during 2010. These include Debt Service -- $360,000; Parks and Fire Capital Contributions --
$100,000; and City Hall improvements -- $451,000. Savings resulted from the deferment of City
Hall planned improvements. The balance at year -end is $865,817.
The Real Estate Excise Tax — 2nd 3/4% (REET 2) Capital Fund accounts for the 2nd 1 /4% Real Estate
Excise Tax, and related interest earnings. Revenue was $521,570 - 98.4% of the budget,
Expenditures were $751,048 - 48.9% of budget, because of the timing of the grind and overlay
project and 16th and Washington Avenue reconstruction project. The balance at year end is
$839,948.
Note: Both REET revenues are particularly sensitive to the current economic condition, as
housing sales were curtailed by the national banking crisis. After the federal homeownership
program was completed in mid -2010, this revenue took an even sharper fall. The downturn was
factored into the 2010 year end estimates and 2011 budget. 2010 revenues were even less than the
revised estimate, and 2011 is currently below 2010. Budgeted projects in 2011 can tentatively go
forward, however, these reserves are being depleted, and future capital improvements may be
postponed.
The LID Construction Control Fund is used to account for the resources and costs associated with
LID projects. Expenses for these projects are incurred and paid for through up -front interest
bearing warrants which are redeemable when the projects are completed from individual
pay -off's in full or from the proceeds of bond sales for that portion of the project or projects to be
financed over several years. The year -end fund balance is $0 as there are no LID construction
projects in process as of December 31, 2010.
The Transit Capital Reserve Fund has a year -end balance of $1,276,134 which represents the
reserves that the City Council has directed be set aside to provide funds for equipment
replacement. For 2010, the actual expenditures were $2,281,234 - 83.5% of budget. Encumbrances
include about $90,000 for the replumbing of the Public Works complex. Revenues were $2,436,936
- exceeding budget estimates by $94,931 as more sales tax was available for capital purposes than
• originally budgeted.
Year -End Report 2010 21 of 25
Capital Funds (Continued...)
The Stormwater Capital Fund ended its third year with a balance of $722,827. Revenues of
$350,000 consisted of a transfer from the Operating fund. Expenditures of $147,047 or 40.0% of
budget included drainage improvement projects. Projects to be carried forward into 2011 include
"J" Street, and Nob Hill/Fair Ave drainage improvements.
The Convention Center Capital Improvement Funds actual revenues were $464,377 consisting
primarily of an allocation of City Hotel/Motel tax and a grant of Yakima County Hotel/Motel tax
from the Public Facilities District. Expenditures were $574,541 - 58.0% of budget, and the
encumbrance ordinance included a carry forward of $63,000 for the planned purchase of
equipment. The balance of the County funded improvements will be carried- forward into 2011 by
a non - lapsing appropriation. The year -end balance is $377,465.
The Cumulative Reserve for Capital Improvement Funds actual expenditures were $7,405,455 -
39.1% of the amended budget primarily for Railroad /Grade Separation costs, which is being
funded by State and Federal grants, and the Utility Management System, funded by transfers
from the utilities. Revenues were $9,355,091, and the balance at year -end is $3,402,817. (Most of
the railroad project is already rebudgeted in 2011).
The purpose of the Wastewater Facilities Capital Reserve Fund is to provide resources for major
repairs /maintenance at the plant annually. Revenues equaled $151,640 - 99.8% of the amended
budget, and are derived from Sewer Operating contributions, Sewer Service Agreements with
Union Gap and Terrace Heights, and investment income. There were expenditures for capital
improvements and repairs of $799 - 1.6% of the $50,000 budget authorization for emergency
repairs. The fund balance at year -end is $628,016.
The Wastewater Collection System Project Fund provides principally for off -site system
improvements such as new interceptor and trunk line extensions. For 2010, $1,557,350 in revenue
came primarily from a Wastewater Operating Fund transfer. Expenditures of $467,928 were
primarily for a neighborhood wastewater improvements and miscellaneous system repairs.
Projects to be carried - forward into 2011 include improvements to the collection system in
conjunction with the development of the Cowiche Canyon area and unsewered neighborhoods;
the Yakima Speedway/Race Street interceptor, and start -up costs related to the implementation of
Automated Meter Reading. The year -end balance is $5,012,921.
In 2010 the Domestic Water Improvement Fund expenditures totaled $351,247 - 11.7% of budget,
and included a new well at Gardner Park, and other watermain replacement projects. Revenue to
this fund totaled $1,516,300 and included $950,000 from the Water Operating fund, $564,000 from
a Public Works Trust Fund loan for the Gardner Park well, and interest earnings. The balance of
the 2010 budget was mostly rebudgeted when the 2011 budget was adopted, with the exception of
the new well project which will be carried forward by means of a non - lapsing appropriation. The
2010 year -end balance is $3,713,738.
Year -End Report 2010 22 of 25
Capital Funds (Continued...)
Wastewater Facility Project Fund actual expenditures for 2010 were $2,423,131 - 61.3% of budget,
for treatment plant projects. Actual revenues were $1,742,846 consisting primarily of $1.6 million
from the Wastewater Operating fund, with balance consisting of interest earnings and other
miscellaneous contributions. The year -end balance is $3,142,560 to be used for the continuation of
the capital program at the wastewater facility, and the 2011 budget will be adjusted with a non-
lapsing appropriation as needed.
The Irrigation System Improvement Fund is used to account for capital improvement projects.
For 2010, revenue totaled $1,148,055 consisting of the capital component of the irrigation rate, and
interest earnings. Expenditures were $2,470,183 or 95.0% of the budget, which were'spent
primarily on the General, Capital Hill, and Fruitvale Canal Diversion systems leaving a balance of
$835,564. Construction on various sections of the system will be carried forward into the 2011
budget.
Summary
Capital Improvement Funds received revenues of $26,215,186 - 69.3% of budget estimates;
expenditures equaled $29,614,970 and were 54.4% of the authorized budget. The carry forward
fund balance is $22,638,357. Incomplete project balances were either already carried forward in
Ank the 2011 budget, or will be recorded as non - lapsing appropriations.
•
111/
Year -End Report 2010 23 of 25
RESERVE FUNDS
•
Table VI reflects the status of the City's Reserve Funds at year -end 2010.
The Unemployment Compensation Reserve provides for unemployment claims filed by former
employees. Through year -end 2010, the City had actual expenditures of $151,048 - 63.8% of the
amended budget. Revenues were $149,700 - 105.4% above budget. The reserve balance at
year -end is $392,537. Because of the continuing possibility of reductions in force in response to
the economic downturn, rates were increased by 25% for 2011.
The Employees Health Benefit Reserve provides for group medical, vision and dental claims for
present, retired and terminated City employees and eligible dependents. Actual expenditures
through year -end were $10,364,643 - 98.2% of the amended budget. Revenue of $10,127,840 was
100.8% of the amended budget, so that 2010 used over $236,000 of reserves. The year -end balance
is $2,537,959, before the estimate for incurred but unpaid claims.
Financial Disclosure requirements prescribe that liabilities be recognized when incurred. The self -
insurance auditor recommended that we record 15% of the annual paid claims as a liability.
Therefore, about $1.3 million in medical and dental claims representing 15% of the prior 12
months will be recorded as a liability in the financial statements. The ending fund balance after
considering this transaction will be about $1.2 million.
To accommodate health -care industry inflation coupled with the City's experience, rates were
increased by about 6.0% for the 2011 budget. Affordable insurance coverage continues to be the
focus of the Insurance Board, and a change in benefit design was implemented in February 2010.
This change was not expected to actually reduce plan costs, but to slow the growth of required
premium contributions.
The Worker's Compensation Reserve provides for payment by the City of industrial insurance
claims and time loss for City employees who are injured in the performance of their assigned
duties. Revenues were $1,230,897 - 87.2% of budget estimates and expenditures were $1,222,828 -
83.2% of the amended budget. The Reserve Fund balance of $1,177,332 is the cash balance. For
the same reasons discussed above, a liability will be presented in the financial statements of about
$740,000 which will leave the fund balance of about $483,000. Because cash reserves were
replenished in 2010, the 2011 rates were reduced by 12 %.
The Wellness /Employee Assistance Program fund expenditures ended the year at $63,896 or
71.1% of budget. Revenues were $68,303 or 113.8 %, leaving a balance of $147,369. Revenues are
recorded at the end of the year as medical insurance savings from vacant positions, therefore the
balance needs to carry this fund's activity to the end of the next year.
Firemen's Relief and Pension expenditures were $1,547,509 - 95.2% of budget through year -end
2010. Actual revenues were $1,575,935 - 99.8% of budget. The fund balance at year -end is
$774,349, and reflects the Pension Board's policy to build reserves for potential long -term medical
•
care needs of the LEOFF I retirees.
Year -End Report 2010 24 of 25
OPERATING RESERVES
•
Table VI illustrates the position of the City's Contingency Reserve Funds.
General Contingency Fund -- The year -end balance is $235,364..
Capitol Theatre General Contingency Reserve -- In 2010, $71,927 was transferred to the Capitol
Theatre Operating Fund to fund the Theatre's annual capital improvement program. The
year -end balance is $381,766.
The Risk. Management Reserve Fund was established to provide for payment of insurance
coverages and for claims incurred for liability losses. Annual allocations are made by City
operating departments to this fund. Total revenues received were $2,906,249, and expenditures
equaled $3,014,749. Major expenses included: $452,000 for payments of claims, $712,000 for
outside legal services (revenues include $231,000 of insurance reimbursement for services relating
to prior City ownership of the Yakima Resources site), $293,000 for property insurance coverage,
and $800,000 for general liability_ insurance.
The year -end Risk Management fund balance is $901,100, before outstanding claims are
considered. The required claim reserve at December 31, 2010 is estimated to be about $976,000,
which will result in an adjusted funded balance of about ($75,000) to be reported in the 2010
financial statements. The 2011 budget included a 3% rate adjustment to pay the balance of
outstanding claims, continued professional support, and rebuild reserves. This reserve balance
will also be monitored for adequacy throughout 2011, 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. Reserve balances are in compliance with bond covenants.
CONCLUSION
Given the current state of the local and national economy, the state of worldwide affairs and the
related potential impacts to all government entities, City management has taken a conservative
approach to budgeting of revenues and continues to maintain tight controls on expenditures.
Overall, the 2010 year -end fiscal position reflects that the City of Yakima was able to effectively
manage its economic environment.
Year -End Report 2010 25 of 25
City of Yakima Table I
Page 1 of 2 General Government Resources 100.0%
3 Year Comparison - December 2010 Year to Date • of Year
General Fund Resources: 2008 2009 2010
% Amended
To -Date Rcvd To -Date Rcvd Budget To -Date Rcvd
Property Tax $7,437,787 101.5% $8,057,000 104.3% $8,523,000 $9,190,326 107.8%
Criminal Justice Sales Tax Inc .3% 1,676,175 103.2% 1,619,573 94.1% 1,682,000 1,626,432 96.7%
Criminal Justice Sales Tax 929,067 102.2% 902,308 91.8% 960,000 927,461 96.6%
Sales Tax 13,719,058 100.3% 12,623,990 90.6% 12,703,000 12,653,993 99.6%
Franchise Tax
Nob Hill Water Assn. - -2.0% 40,245 93.6% 52,945 111.3% 42,000 44,520 106.0%
Utility Tax
Pacific Power -- 6.0% 3,405,099 113.0% 3,677,212 100.7% 3,816,000 3,699,964 97.0%
Nob Hill Water Assn. - -14.0% 283,680 94.6% 372,950 113.0% 325,000 328,326 101.0%
Natural Gas -- 6.0% 1,292,335 83.6% 1,593,020 119.0% 1,710,000 1,228,159 71.8%
Yakima Waste Systems - -10.0% 329,913 94.8% 324,738 104.8% 320,000 321,325 100.4%
Cellular Telephone -- 6.0% 1,446,082 123.2% 1,596,266 103.3% 1,570,000 1,933,749 123.2%
Telephone -- 6.0% 1,074,537 86.7% 1,001,993 87.9% 1,070,000 902,397 84.3%
Water -- 14.0% 883,411 97.5% 994,227 109.7% 980,000 977,223 99.7%
Wastewater -- 14.0% 1,963,497 101.3% 2,062,101 104.1% 2,129,000 2,156,011 101.3%
Refuse -- 9.0% 381,196 102.7% 418,431 100.8% 420,000 444,115 105.7%
Total Utility Tax 11,059,750 102.1% 12,040,938 103.7% 12,340,000 1 97.2%
Business License Tax 533,091 106.6% 519,941 100.0% 520,000 511,926 98.4%
Gambling Tax 913,885 96.1% 923,090 99.0% 928,000 843,004 90.8%
Dangerous Bldg Tax Assessment 39,064 n/a 22,509 n/a 35,000 4,927 14.1%
Leasehold Excise Tax 3,992 1996.0% 18,623 9311.5% 4,000 7,173 179.3%
Total Taxes 36,352,114 101.3% 36,780,917 98.1% 37,737,000 37,801,031 100.2%
Police Federal Grants 152,677 57.6% 176,465 50.6% 135,000 155,471 115.2%
Fire Federal Grants 72,000 102.9% 69,000 115.0% 0 27,000 n/a
Criminal Justice Funds 568,110 133.9% 645,935 149.9% 640,000 498,430 77.9%
Liquor Excise Tax 403,020 102.5% 411,997 98.1% 405,000 420,824 103.9%
Liquor Profits 565,917 93.5% 580,137 93.6% 695,000 679,326 97.7%
School Dist. #7 Resource Officers 352,828 100.0% 363,512 98.1% . 370,440 291,150 78.6%
Other Intergovermental 549,490 113.1% 806,553 125.8% . 715,968 740,956 103.5%
Total Intergovernmental 2,664,042 102.6% 3,053,599 105.6% 2,961,408 2,813,157 95.0%
erp 3/31/2011 Revenues Gen Gov- 2010.xls
•
City of Yakima Table I
Page 2 of 2 General Government Resources 100.0%
3 Year Comparison - December 2010 Year to Date of Year
General Fund Resources (Contd.) 2008 2009 2010
Percent Percent Amended Percent
To -Date Received To -Date Received Budget To -Date Received
Licenses and Permits $993,122 114.0% $711,835 87.4% $689,000 $768,469 111.5%
Charges for Service 4,808,037 107.5% 4,719,210 96.7% 4,914,680 4,917,224 100.1%
Fines and Forfeitures 1,582,815 114.8% 1,631,593 99.9% 1,736,900 1,658,467 95.5%
Misc. Revenue 1,010,088 106.8% 657,445 71.1% 511,294 363,606 71.1%
Non - Revenue 467 46.7% 1,100. 110.0% 1,000 0 0.0%
Transfers From Other Funds 40,000 100.0% 40,000 100.0% 40,000 40,000 100.0%
Capital Lease Financing 0 0 0 0
Total General Fund Revenue $47,450,685 102.8% $47,595,699 97.8% $48,591,282 $48,361,954 99.5%
Beginning Balance 6,250,708 100.0% 6,798,731 100.0% 4,612,886 4,612,886 100.0%
Total General Fund Resources $53,701,393 102.4% $54,394,430 98.0% $53,204,168 $52,974,840 99.6%
Parks & Recreation Fund Resources:
Property Tax • 1,800,000 • 100.0% 1,623,500 90.2% 1,788,500 1,665,500 93.1%
Intergovernmental 153,252 87.7% 178,965 99.3% 147,700. 139,555 94.5%
Charges for Services. 886,086 97.0% 898,505 96.2% 946,365 930,907 98.4%
Misc. Revenue/Non- Revenue 290,212 146.4% 218,863 85.5% 247,420 221,835 89.7%
Transfers From Other Funds 1,046,359 94.7% 1,176,799 109.6% 1,117,000 1,150,565 103.0%
Total Parks/Rec. Fund Revenue $4,175,909 99.6% $4,096,632 96.5% $4,246,985 $4,108,362 96.7%
Beginning Balance 549,439 100.0% 451,356 100.0% 339,555 339,555 100.0%
Total Parks/Rec. Fund Resources • $4,725,348 99.7% $4,547,988 96.9% $4,586,540 $4,447,917 97.0%
Street/Traffic Fund Resources:
Property Tax 4,220,202 100.0 %. 4,209,000 97.6% 3,708,000 3,375,700 91.0%
County Road Tax 9,260 0.0% 8,463 0.0% 0 27,411 0.0%
Fuel Tax - Street 1,306,335 91.4% 1,249,776 92.6% 1,200,000. 1,253,503 104.5%
Other Intergovernmental 91,834 . 0.0% 33,535 0.0% 0 0 0.0%
Charges for Services 35,274 223.8% 30,453 193.2% 215,760 227,461 105.4%
Misc. Revenue/Non- Revenue 145,373 242.1% 47,411 55.7% 105,050 80,892 77.0%
Total Street/Traffic Fund Revenue $5,808,278 101.4% $5,578,638 96.8% $5,228,810 $4,964,967 95.0%
Beginning Balance 1,386,069 100.0% 1,372,651 100.0% 1,461,266 1,461,266 100.0%
Total Street/Traffic Fund Resources $7,194,347 ..101.2% $6,951,289 97.4% $6,690,076 $6,426,233 96.1%
Total General Government Resources $65,621,088 102.1% $65,893,707 97.9% $64,480,784 $63,848,990. 99.0%
•
erp 3/31/2011 Revenues Gen Gov- 2010.xls
City of Yakima Table II
General Government Summary of Operations 100.0 %
3 Year Comparison - December 2010 Year to Date Of Year
2008 2009 2010
Rcvd Rcvd Amended Rcvd
To -Date Exp To -Date Exp Budget To -Date Exp
General Fund
Beginning Balance $6,250,708 $6,798,731 $4,612,886 $4,612,886
Revenues $47,450,685 102.8% $47,595,699 97.8% $48,591,282 $48,361,954 99.5%
Expenditures $46,916,043 96.8% $49,794,628 96.1% $50,251,506 $48,479,187 96.5%
Ending Balance $6,785,350 $4,599,802 $2,952,662 $4,495,653
Parks and Recreation Fund
Beginning Balance $549,439 $451,356 $339,555 $339,555
Revenues $4,175,909 99.6% $4,096,632 96.5% $4,246,985 $4,108,362 96.7%
Expenditures $4,274,493 96.7% $4,208,433 96.1% $4,218,655 $4,062,236 96.3%
Ending Balance $450,855 $339,555 $367,885 $385,681 •
Street/Traffic Fund
Beginning Balance $1,386,069 $1,372,651 $1,461,266 $1,461,266
Revenues $5,808,278 101.4% $5,578,638 96.8% $5,228,810 $4,964,967 95.0%
Expenditures $5,821,695 93.7% $5,490,023 90.4% $5,424,662 $5,337,910 98.4%
Ending Balance $1,372,652 $1,461,266 $1,265,414 $1,088,323
Total General Government
Beginning Balance $8,186,216 $8,622,738 $6,413,707 $6,413,707
Revenues $57,434,872 102.4% $57,270,969 97.6% $58,067,077 $57,435,283 98.9%
Expenditures $57,012,231 96.5% $59,493,084 95.5% $59,894,823 $57,879,333 96.6%
Net General Government Balance $8,608,857 $6,400,623 $4,585,961 $5,969,657
erp 3/31/2011 Revenues Gen Gov- 2010.xls
0 0
Ci IeIV
of Yakim a
City
Other Operating/Enterprise Funds
2010 Budget vs. Actual
Actual Revenue Appropriations
Beginning % % Ending
Other Operating/ Balance Amended Actual Re- Amended Actual Ex- Balance
Enterprise Funds 1/1/2010 Budget Revenue ceived Budget Expenditures pended 12/31/2010
Economic Development $ 298,834 $ 143,000 $ 123,669 86.5% $ 236,304 $ 223,983 94.8% $ 198,520
Community Development 377,303 5,549,082 3,414,456 61.5% 5,705,566 3,479,770 61.0% 311,989
Community Relations 893,104 477,200 521,986 109.4% 561,448 513,131 91.4% 901,959
Community Services 5,599 205,000 74,348 36.3% 206,834 64,387 31.1% 15,560
Growth Management 24,372 25,373 21,888 86.3% 49,745 23,144 46.5% 23,116
Cemetery 87,167 243,750 240,059 98.5% 256,155 245,460 95.8% 81,766
Emergency Services 63,379 1,063,870 1,094,658 102.9% 1,110,329 1,093,525 98.5% 64,512
Public Safety Communications 256,883 3,037,277 3,060,384 100.8% 3,095,475 3,068,448 99.1% 248,819
Police Grants 297,944 1,175,228 947,523 80.6% 1,279,668 914,321 71.4% 331,146
P.B.I.A. (Parking & Business Imp.) 2,640 240,170 223,821 93.2% 239,989 204,638 85.3% 21,823
Trolley 4,935 213,479 150,038 70.3% 287,218 150,422 52.4% 4,551
Front Street Business Imp. Area 8,413 3,535 2,453 69.4% 5,000 3,248 65.0% 7,618
Convention Center
(Tourist Promotion) 245,143 1,404,500 1,375,465 97.9% - 1,469,180 1,442,044 98.2% 178,564
Public Facilities District - Convention Ctr 155,888 681,000 655,164 96.2% 689,000 641,133 93.1% 169,919
Tourism Promotion Area 414 378,205 388,980 102.8% 378,205 388,980 102.8% 414
Capitol Theatre 128,804 309,927 270,822 87.4% 319,749 284,749 89.1% 114,877
Public Facilities District - Capitol Theatre 23,631 503,000 494,190 98.2% 502,000 493,964 98.4% 23,857
Recovery Grants Program 0 814,000 387,011 47.5% 814,000 . 387,011 47.5% 0
Stormwater Operating Fund 473,640 2,100,000 2,142,285 102.0% 2,191,887 1,801,236 82.2% 814,689
Transit 673,230 7,371,005 7,320,959 99.3% 7,471,870 7,209,479 96.5% 784,710
Refuse 220,677 4,805,525 4,930,512 102.6% 4,814,792 4,802,640 99.7% 348,549
Wastewater Operating 2,169,399 17,249,214 18,018,785 104.5% 17,583,255 17,574,185 99.9% 2,613,999
Water Operating 2,110,819 7,386,837 7,475,969 101.2% 7,774,807 7,648,496 98.4% 1,938,292
Irrigation 281,764 2,771,600 1,903,641 68.7% 2,758,394 1,862,091 67.5% 323,314
Equipment Rental 4,230,354 4,983,304 5,056,071 101.5% 5,201,037 4,915,677 94.5% 4,370,748
Environmental 458,319 907,423 532,526 58.7% 1,172,873 388,824 33.2% 602,021
Public Works Admin. 219,391 1,185,331 1,176,239 99.2% 1,175,373 1,046,827 89.1% 348,803
Total Other Operating Funds $ 13,712,046 $ 65,227,835 $ 62,003,902 95.1% $ 67,350,153 $ 60,871,813 90.4% $ 14,844,135
cje 3/31/2011
Table V
City of Yakima
Capital Improvement Funds
2010 Budget vs. Actual
Actual Revenue Appropriations
Beginning % % Ending
Balance Amended Actual Re- Amended Actual Ex- Balance
Capital Improvement Funds 1/1/2010 Budget Revenue ceived Budget Expenditures pended 12/31/2010
Arterial Street $ 1,197,061 $ 2,976,767 $ 2,703,591 90.8% $ 6,154,428 $ 3,383,341 55.0%
$ 517,311
Transportation Improvement 0 0 0 0 0 0
Central Business District Capital 431,954 1,021,800 . 1,008,473 98.7% 1,165,185 1,048,433 90.0% 391,994
Capitol Theatre Construction 4,430,420 37,000 133,341 360.4% 4,570,000 4,439,534 97.1% 124,227.
Parks and Recreation Capital 314,290 733,420 562,526 76.7% 788,142 673,520 85.5% 203,296
Fire Capital 1,423,480 209,588 185,387 88.5% 1,476,079 1,355,703 91.8% 253,164
Law and Justice Capital 385,466 1,038,035 840,726 81.0% 1,159,603 895,634 77.2% 330,558
Public Works Trust Construction 1,172,052 615,000 604,570 98.3% 1,191,851 910,805 76.4% 865,817
REET 2 Capital 1,069,426 530,000 521,570 98.4% 1,536,822 751,048 48.9% 839,948
LID Construction Control (897,020) 0 932,407 36,200 35,387 0
Transit Capital Reserve 1,120,432 2,342,005 2,436,936 104.1% 2,732,039 2,281,234 83.5% 1,276,134
Stormwater Capital Fund 519,874 434,781 350,000 80.5% 368,040 147,047 40.0% 722,827
Convention Center
Capital Improvement 487,629 ' 808,500 464,377 57.4% 990,134 574,541 58.0% 377,465
Reserve for Capital Improvement 1,453,181 21,093,775 9,355,091 44.4% 18,946,251 7,405,455 39.1% 3,402,817
Wastewater Facilities
Capital Reserve 477,175 152,000 151,640 99.8% 50,000 799 1.6% 628,016
Sewer Construction 3,923,499 1,388,000 1,557,350 112.2% 3,685,000 467,928 12.7% 5,012,921
Domestic Water Improvement 2,548,685 2,045,460 1,516,300 74.1% 2,997,200 351,247 11.7% 3,713,738
Wastewater Facility Project 3,822,845 1,505,000 1,742,846 115.8% 3,951,867 2,423,131 61.3% 3,142,560
Irrigation System Improvement 2,157,692 884,000 1,148,055 129.9% 2,600,000 2,470,183 95.0% 835,564
Total Capital Improvement Funds $ 26,038,141 $ 37,815,131 $ 26,215,186 69.3% $ 54,398,841 $ 29,614,970 54.4% $ 22,638,357
cje 3/31/ • •
Table VI
City of Yakima
Reserves and Other Funds
2010 Budget vs. Actual
Actual Revenue Appropriations
Beginning ' . % Ending
Employee Benefit Balance Amended Amended Actual Ex- Balance
Reserves . 1/1/2010 Budget Revenue ceived Budget Expenditures pended 12/31/2010
Unemployment Compensation
Reserve $ 393,885 ' 142,000 $ 149,700 105.4% $ 236,861 $ 151,048 63.8% $ 392,537
Employees Health Benefit
Reserve 2,774,762 10,051,000 10,127,840 100.8% 10,553,586 10,364,643 98.2% 2,537,959 (1)
Worker's Compensation Reserve 1,169,263 1,412,300 1,230,897 ' , 1,469,617 1,222,828 83.2% 1,177,332 (1)
Wellness/EAP 142,962 61111 68,303 89,849 63,896 71.1% 147,369
Firemens' Relief and Pension 745,923 99.8% 1,624,792 1,547,509 95.2% 774,349
Total Employee Benefit
Reserve Funds $ 5,226,795 $ 13,243,865 $ 13,152,675 99.3% $ 13,974,705 $ 13,349,924 95.5% $ 5,029,546
Operating Reserves
Contingency $ 256,720 $ 50,000 $ 25,000 50.0% $ 225,000 $ 46,356 20.6% $ 235,364
Capitol Theatre Reserve 451,642 2,000 2,051. 102.6% 71,927 71,927 100.0% 381,766
Risk Management Reserve 1,009,600 2,559,500 2,906,249 113.5% 3,019,338 3,014,749 99.8% 901,100 (1)
Total Operating Reserve Funds . $ 1,717,962 $ 2,611,500 $ 2,933,300 112.3% $ 3,316,265 $ 3,133,032 94.5% $ 1,518,230
Other Funds
Cemetery Trust $ 578,512 $ 23,000 $ 23,638 102.8% $ 15,000 $ 10,050 67.0% $ 592,100
Pass Through Grants $ - $ - $ - $ - $ - $ -
(1) These fund balances exclude an accrual for incurred but not reported claims.
cje 3/31/2011
Table VII
City of Yakima
Bond Redemption Funds
2010 Budget vs. Actual
Actual Revenue Appropriations
Beginning % % Ending
General Obligation Bond Balance Amended Actual Re- Amended Actual Ex- Balance
Redemption 1/1/2010 Budget Revenue ceived Budget Expenditures pended 12/31/2010
L.I.D. Guaranty $ 79,830 $ 100 $ 157 $ - $ - $ 79,987
1994 G.O. Ltd. - Police & Streets 109,611 512,000 511,996 100.0% 511,788 511,788 100.0% 109,819
1995 G.O. Street, Parks & Fire 192,246 297,000 295,978 99.7% 296,550 296,550 100.0% 191,674
G.O. Line of Credit 0 50,000 0 0.0% 50,000 0 0.0% 0
1996 G.O. LTD - Convention Center 63,252 429,200 429,000 100.0% 427,815 427,815 100.0% 64,437
2002 G.O. Convention Center 151,195 1,028,896 1,028,896 100.0% 1,014,286 1,014,286 100.0% 165,805
2005 G.O. Parks and Recreation Bond 8,564 989,763 987,389 99.8% 989,763 989,763 100.0% 6,190
L.I.D. Debt Service Control 26,030 382,000 361,025 94.5% 407,000 361,912 88.9% 25,143
Total General Obligation Bond
Redemption Funds $ 630,728 $ 3,688,959 $ 3,614,441 98.0% $ 3,697,202 $ 3,602,114 97.4% $ 643,055
Water /Sewer Revenue Bond Redemption
1997 Water Revenue Bond Reserve $ 270,007 $ 400 $ 400 100.0% $ $ - $ 270,407
1996 Revenue Bond Reserve 145,363 700 700 100.0% 0 0 146,063
Water /Sewer Revenue Bonds 113,727 540,687 540,687 100.0% 540,287 540,287 100.0% 114,127
1997 Water Revenue Bonds 4,816 238,839 238,839 100.0% 238,814 238,814 100.0% 4,841
2008 Water /Sewer Revenue Bond 0 414,613 414,613 100.0% 414,613 414,613 100.0% 0
2003 Wastewater Bond Redemption 2 1,346,645 1,346,645 100.0% 1,346,644 1,346,644 100.0% 3
2003 Irrigation Bond Redemption 35,436 322,684 322,684 100.0% 322,684 322,684 100.0% 35,436
Water /Sewer Revenue Bond Reserve 967,700 2,500 2,500 100.0% 0 0 970,200
2003 Sewer Revenue Bond Reserve 828,650 0 0 0 0 828,650
Total Water /Sewer Revenue
Bond Redemption Funds $ 2,365,701 $ 2,867,068 $ 2,867,068 100.0% $ 2,863,042 $ 2,863,042 100.0% $ 2,369,727
cje 3/31/
III III