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09/07/2021 06.B. 2021 2nd Quarter Financial Report 1 s° `Z,'. .,t a°++a 0� cut • rr 11 i ',i enc u nrry 1 BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 6.B. For Meeting of: September 7, 2021 ITEM TITLE: 2021 2nd Quarter Financial Report SUBMITTED BY: Jennifer Ferrer Santa Ines, Director of Finance and Budget SUMMARY EXPLANATION: Staff will present a summary and analysis on the economic impact of the COVI D-19 emergency on the City's current budget. There are important questions that affect level of services to be answered, concerns to be addressed, and course-correction strategies to be communicated to citizens. The Second Quarter Financial Report for 2021 is attached and consists of the following: 1. Summary Narrative 2. Financial Reports • Cash Balance Trend • Material Revenue Performance Charts • Fund Balance Summary • Revenue and Expenditure Comparison to Budget and Actual Year-to-Date • General Government Revenue Historical Year-to-Date Detail • General Government Expenditure Historical Year-to-Date Detail • Other Funds - Revenue, Expenditure and Fund Balance Summary ITEM BUDGETED: NA STRATEGIC PRIORITY: Public Trust and Accountability APPROVED FOR SUBMITTAL BY THE CITY MANAGER RECOMMENDATION: Review only. Submitted for routine transparency and accountability. ATTACHMENTS: Description Upload Date Type ❑ 2nd Quarter Financial Report 9/2/2021 Corer Memo 2 ''0 A 14 l'.4.•*I� 1 t FINANCE DEPARTMENT II 4 c''''' . 1. co" %,(,)'.. .... 1 ,t, ..... ....,, i %,, 4**.........' Ep �__ To: Honorable Mayor and Members of the City Council Bob Harrison,City Manager From: Jennifer Ferrer-Santa Ines,Director of Finance &Budget Kimberly Domine,Financial Services Manager Kathy Miles,Financial Services Technician-Payroll Date: August 17,2021 Subject: 2021 2nd Quarter Financial Update This financial update is a preliminary,unaudited,report for the 2nd quarter ended June 30,2021,one half,or 50% of the year,intended to inform and assist governance decisions for future planning. In total, city revenues are at 44.1%of budget and expenditures are at 38.5%of budget. The timing of Property Tax Revenue, coming in,and the timing of Capital Fund Expenditures,going out,are normally the biggest reasons that revenues and expenditures are below 50%at this point in the year. Cash position and revenue charts on the following pages provide insight into the monitoring of revenue and the management of expenses. The Quarterly Treasury report,a separate report also available on the City's website,provides further cash and investment analysis. This report is a progress report until the annual independent audit is completed because complete accrual analysis for invoices not yet received is only done at year-end,not quarterly. COVID-19's Economic Effects on City Revenues The American Rescue Plan Act (ARPA) funds will positively impact 2021 as details become known, increasing budgeted revenues and expenses and will affected "normal"budgetary percentages in the accompanying reports uniquely as this year progresses. The economic effects of COVID-19, and the CARES Act,affected 2020 uniquely,complicating comparison to prior year. As has been monitored and reported continuously,there was a substantial economic effect on the City's budgeted revenues: • Sales Tax had significant downturns during May and June of 2020,and has since recovered to exceed 2021 budgeted levels,achieving 119.5%of budget through June. • Lodging Tax had a significant downturn in 2020 due to the economic effects of the COVID-19 pandemic and began 2021 with a January remittance that was 53%of January 2019 (pre-COVID). Lodging Tax is at 33.5% of budget at the halfway mark in the year. • Building Permits,Fire Inspection Fees and Gambling revenues all decreased during 2020, are continuing below budget in 2021 and are being monitored monthly. 3 General Fund's Performance to Budget General Fund Revenues in total are at 68.9%;the largest components are: • Intergovernmental Revenues(grants, excise taxes and other state and government distributions)are at 359.8% mostly due to the American Rescue Plan funds. • Property Tax is at 56.3%. • Sales Tax is at 53.4%. • Criminal Justice Tax is at 52.1%. • Gambling Tax is at 27.6% mainly due to COVID restrictions. • Building Permits are at 37.8%. • Fire Inspection Fees are at 4.2%due to low inspection volume during COVID. General Fund Expenditures in total are at 46.2%. The largest component variances are: • Interfund Distributions (transfers from the General Fund to other funds)are at 57.8%due to higher utility tax revenues that estimated. • Indigent Defense is currently at 52.1%. • City Council is at 50.3%due to annual Dues& Subscriptions paid in the first quarter. 4 CASH POSITION AND REVENUE UPDATE City staff monitors revenues and manages expenses continuously. Cash &Investments As a current over-all indicator,the 4-year historic core city-wide cash and investments balance trend shows June at$119.5 million. Each month is best compared to the same month in previous years to account for seasonality and other annual events. CASH AND INVESTMENTS HISTORY $125,000,000 - - $100,000,000 - 11 - I EE 000 - 000 - NS< L01��1�� 1� P�011b 1��1���0,�11�b �'09 �1�01N9 �,�.09�0,�.091 1,�\1r0 0 NO)�1�01�0 11�\1r1 LO1� 11�1 0,e>Sales Tax This is the largest single funding source for the city. The 2nd quarter cumulative of$10.2 million exceeds budget by$1,225,395 or 12.0%and is greater than prior year by$1.7 million. Some of this increase may be due to purchases funded by COVID response activity or one-time stimulus check payments from the government. The city receives sales tax from the State on a 2-month lag from the actual point-of-sale transactions so these figures are for actual transactions through April. The graph below shows Sales Tax revenues for General Fund (see p. 9). SALES TAX REVENUE $20,000,000 - $15,000,000 - $10,000,000 - $5,000,000 - $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 3 5 Property Tax The 2nd quarter cumulative revenue tracked roughly on budget. The 2021 budget increased by$316,666 due to assessed valuations(a combination of the existing cap at 1%and new growth). PROPERTY TAX REVENUE $30,000,000 $20,000,000 $10,000,000 — $0 i Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative Prior Year Cumulative Water The 2nd quarter cumulative revenue of$4.6 million through June is up$119,193. A rate increases of 5% went into effect in January of 2021. WATER REVENUE $15,000,000 7 $10,000,000 — $5,000,000 — $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec M Budget Cumulative U Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 4 6 Refuse The 2nd quarter cumulative revenue of$3.4 million is up$374,780 over budget and $382,048 over prior year. An average 3.5%rate increase in Refuse rates was approved by Council for each year 2021 through 2025 as reflected in the 2021 budget. REFUSE REVENUE $7,500,000 — $5,000,000 — $2,500,000 — Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative Prior Year Cumulative Lodging Tax The 2nd quarter cumulative revenue of$413,360 is up$37,310 over budget and down$42,032 compared to prior year. The comparison of each month's revenue to the same month in prior year is improving. In the coming months through 2021 revenue is expected to fall short of prior year due to the continuing economic effects of the COVID-19 pandemic. LODGING TAX REVENUE $1,500,000 — $1,000,000 — $500,000 — $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 5 7 Real Estate Excise Tax(REET I &II, combined) The 2nd quarter cumulative revenue of$1.6 million is up$503,768 over budget and up$633,366 over prior year. The current increase is attributed to a higher than estimated real estate market,with home owners capitalizing on strong demand for housing. REET 1/REET2 $3,000,000 $2,000,000 $1,000,000 $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative U Current Year Cumulative — Prior Year Cumulative Building Permits The 2nd quarter cumulative revenues of$325,441 are down$122,218 below budget and $12,577 above prior year. BUILDING PERMIT REVENUE $1,000,000 - $750,000 - $500,000 - --- $250,000 - $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Budget Cumulative f Current Year Cumulative Prior Year Cumulative Finance Quarterly Report-Page 6 8 CITY-WIDE FUND BALANCE SUMMARY CHANGE IN FUND BALANCE 2021 As of June 30 Beginning 2021 2021 Ending Balance 1 Actual Rev. Actual Exp. Balance General Fund $ 13,295,598 $ 48,284,200 $ 32,772,509 $ 28,807,289 Parks and Recreation 1,060,444 2,970,689 2,245,281 1,785,852 Street&Traffic Operations 915,423 3,391,289 3,094,328 1,212,384 General Government Subtotal 15,271,465 54,646,178 38,112,118 31,805,525 Other Governmental Operating Funds 5,420,249 6,245,260 7,011,407 4,654,102 Government Capital Funds 19,731,255 6,133,631 15,406,836 10,458,050 Enterprise Operating Funds 26,266,474 28,505,069 27,739,215 27,032,328 Enterprise Capital Funds 41,263,704 4,946,345 4,842,004 41,368,045 Internal Service Funds 4,798,320 3,755,374 3,552,847 5,000,847 Employee Benefit Reserve 5,609,521 7,447,340 8,494,029 4,562,832 Risk Management Reserves 3,376,377 2,649,570 2,860,831 3,165,116 Debt Service&Agency Funds 4,254,563 4,237,710 2,884,669 5,607,604 Total2 $ 125,991,928 $ 118,566,477 $ 110,903,956 $ 133,654,449 This is a progress report to provide transparency and accountability. This table shows fund balances by fund at this point in time,and some negative balances are typical for the first three quarters due to timing of seasonal fluctuations such as Property Tax revenues that come in twice a year,and debt payments made periodically,as well as other seasonal factors. This is intended to provide transparency and accountability but is a snapshot, not a reliable measure of predicted year-end. Annual audited financial reports are provided annually and can be compared year to year. 1 Beginning fund balances are not final and may vary upon completion of the 2020 year-end Audit currently in progress. 2 Due to rounding,some totals in the above chart may not correspond with the sums in other charts within this document. Finance Quarterly Report-Page 7 9 CITY WIDE REVENUES & EXPENDITURES BY FUND GROUPING REVENUE COMPARISON (Budget vs.Actual) 2020 2021 Annual Annual Amended Actual % Amended Actual % Budget as of 6/30 Rec'd Budget as of 6/30 Rec'd General $ 75,227,693 $ 32,928,436 43.8% $ 70,081,216 $ 48,284,200 68.9 % Parks and Recreation 5,551,742 2,445,384 44.0% 5,745,833 2,970,689 51.7% Street&Traffic Operations 8,661,450 3,176,393 36.7% 6,353,125 3,391,289 53.4 % General Government Subtotal 89,440,885 38,550,213 43.1 % 82,180,174 54,646,178 66.5 % Other Government Operating Funds 18,028,690 5,800,258 32.2% 20,526,875 6,245,260 30.4 % Government Capital Funds 38,183,760 15,519,904 40.6% 29,268,555 6,133,631 21.0 % Enterprise Operating Funds 66,779,346 26,758,229 40.1 % 68,198,108 28,505,069 41.8 % Enterprise Capital Funds 13,009,100 3,485,741 26.8% 31,865,671 4,946,345 15.5 % Internal Service Funds 8,457,087 3,342,537 39.5 % 7,674,739 3,755,374 48.9 % Employee Benefit Reserves 16,480,664 7,191,317 43.6% 16,293,943 7,447,340 45.7% Risk Management Reserve 5,037,870 2,522,690 50.1 % 5,126,916 2,649,570 51.7% Debt Service&Agency Funds 16,200,206 11,691,894 72.2% 7,495,303 4,237,710 56.5 % Total $ 271,617,608 $ 114,862,783 42.3 % $ 268,630,284 $ 118,566,477 44.1 % EXPENDITURE COMPARISON (Budget vs.Actual) 2020 2021 Annual Annual Amended Actual % Amended Actual % Budget as of 6/30 Exp'd Budget as of 6/30 Exp'd General $ 74,784,998 $ 31,160,146 41.7% $ 70,875,093 $ 32,772,509 46.2 % Parks and Recreation 5,612,841 2,046,662 36.5 % 5,861,436 2,245,281 38.3 % Street&Traffic Operations 8,694,368 4,398,167 50.6% 6,352,464 3,094,328 48.7% General Government Subtotal 89,092,207 37,604,975 42.2% 83,088,993 38,112,118 45.9 % Other Government Operating Funds 18,408,008 6,003,262 32.6% 20,582,767 7,011,407 34.1 % Government Capital Funds 35,772,446 4,417,400 12.3 % 39,860,233 15,406,836 38.7% Enterprise Operating Funds 70,890,869 26,754,925 37.7% 67,120,225 27,739,215 41.3 % Enterprise Capital Funds 25,268,221 3,113,832 12.3 % 37,588,968 4,842,004 12.9 % Internal Service Funds 10,791,242 4,063,398 37.7% 9,910,780 3,552,847 35.8 % Employee Benefit Reserves 16,242,798 7,124,149 43.9% 16,433,061 8,494,029 51.7% Risk Management Reserve 5,047,422 2,463,801 48.8% 5,688,793 2,860,831 50.3 % Debt Service&Agency Funds 16,140,617 11,058,384 68.5 % 7,554,302 2,884,669 38.2 % Total $ 287,653,830 $ 102,604,126 35.7% $ 287,828,122 $ 110,903,956 38.5 % Finance Quarterly Report-Page 8 io GENERAL GOVERNMENT REVENUE DETAIL GENERAL GOVERNMENT REVENUES 2021 Revenues as of June 30 Amended Percent General Fund 2019 2020 2021 Budget Rec'd Property Tax $ 6,162,064 $ 5,859,715 $ 5,164,793 $ 9,179,830 56.3 % General Sales Tax 8,582,881 8,633,825 10,343,662 19,357,000 53.4% Criminal Justice Sales Tax 1,689,479 1,720,133 2,110,294 4,053,000 52.1 % Utility&Franchise Taxes 8,784,220 9,076,600 9,922,251 19,914,735 49.8% Other Taxes 538,975 462,120 306,595 1,073,000 28.6% Licenses and Permits 1,115,461 879,624 805,996 1,888,700 42.7% Intergov't Revenues r 1,916,205 1,751,118 14,717,128 4,089,909 359.8% Charges for Services 3,555,932 3,559,973 3,673,212 7,357,443 49.9% Fines and Forfeitures 839,074 517,314 659,023 1,862,800 35.4% Other Revenue 381,841 468,013 581,245 1,304,800 44.5 % Total General Fund 33,566,132 32,928,435 48,284,199 70,081,217 68.9% Parks&Recreation Property Tax 1,412,195 1,540,731 1,536,122 2,702,528 56.8% Intergov't Revenues 2 23,798 36,787 5,958 69,330 8.6% Charges for Services 450,959 162,810 333,933 955,250 35.0% Other Revenue 734,985 705,055 1,094,676 2,018,725 54.2% Total Parks&Recreation 2,621,937 2,445,383 2,970,689 5,745,833 51.7% Streets Property Tax 1,721,843 2,190,495 2,451,144 4,392,125 55.8% Intergov't Revenues 712,016 644,085 647,040 1,408,000 46.0% Charges for Services 321,346 251,100 253,720 505,000 50.2% Other Revenue 61,293 90,714 39,385 48,000 82.1 % Total Streets 2,816,498 3,176,394 3,391,289 6,353,125 53.4% Total General Government $ 39,004,567 $ 38,550,212 $ 54,646,177 $ 82,180,175 66.5 % Note: Year to date revenues above are consistent with historical trends with the exception of those noted in the footnotes. 1$13.1 million of American Rescue Plan Act(ARPA)funds were receipted in May,2021. The budget amendment is scheduled to be approved by Council in the 3rd quarter. 2 Intergovernmental revenues are affected by the timing of grant reimbursements to the City. Finance Quarterly Report-Page 9 11 GENERAL G D VERNMENT EXPENDITURE DETAIL GENERAL FUND EXPENDITURES 2021 Expenditures as of June 30 Amended Percent 2019 2020 2021 Budget Exp'd Police $ 14,083,521 $ 13,455,239 $ 13,608,252 $ 30,063,726 45.3 % Fire 7,530,446 7,293,732 7,727,089 15,742,516 49.1 % Information Technology 1,686,325 1,873,332 2,049,951 4,371,084 46.9% Finance 769,406 852,472 1,106,530 2,515,279 44.0% Interfund Distributions 1,180,368 832,308 1,278,413 2,212,053 57.8% Legal 886,055 931,414 1,001,941 2,057,127 48.7% Code Administration 966,817 887,079 895,026 1,948,326 45.9% Municipal Court 779,416 769,728 823,883 1,763,503 46.7% City Management 268,319 241,588 383,640 1,344,243 28.5 % Firemen's Relief/Pension 658,542 680,066 580,142 1,176,390 49.3 % Indigent Defense 524,724 537,342 546,859 1,050,000 52.1 % Engineering 354,346 308,400 450,668 955,317 47.2% Police Pension 416,647 394,504 387,099 872,197 44.4% Human Resources 386,842 374,799 356,166 818,769 43.5 % Planning 343,248 390,151 359,841 796,695 45.2% City Clerk/Records 226,977 298,289 248,385 791,632 31.4% Purchasing 304,951 240,190 211,888 447,309 47.4% Clean City Program 1 - 73,533 145,301 441,008 32.9% City Hall Facility 253,050 295,604 186,444 435,460 42.8% Economic Development 156,449 117,181 158,958 342,145 46.5 % City Council 145,550 145,514 143,193 284,786 50.3 % Parking 81,453 77,809 46,279 275,239 16.8% Intergovernmental 86,194 89,872 76,563 170,288 45.0% Total General Fund 32,089,646 31,160,146 32,772,511 70,875,092 46.2% Parks&Recreation Fund 2,259,925 2,046,662 2,245,281 5,861,436 38.3 % Street&Traffic Ops. 2,949,693 4,398,167 3,094,328 6,352,464 48.7% Total General Government $ 37,299,264 $ 37,604,975 $ 38,112,120 $ 83,088,992 45.9% 1 Expenditures commenced following the Nov 2019 Clean Cities funding increase in solid waste utility tax Finance Quarterly Report-Page 10 12 OTHER FUNDS DETAIL OTHER GOVERNMENT OPERATING FUNDS 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Economic Development $ 53,014 $ - $ - $ 53,014 Neighborhood Development 1 453,104 103,990 1,003,049 (445,955) Community Relations 881,473 379,150 322,254 938,369 Cemetery 133,228 163,246 171,085 125,389 Emergency Services 99,131 918,898 775,374 242,655 Public Safety Communication 910,846 2,432,129 2,276,513 1,066,462 Police Grants 1,036,623 135,887 212,466 960,044 PBIA(Park/Bus Improvement Area) 75,810 94,063 45,011 124,862 Trolley 48,500 11,275 5,986 53,789 Front Street Bus Improvement Area 4,278 1,893 - 6,171 Convention Center(Tourist Promo)2 184,296 638,871 858,443 (35,276) Capitol Theatre 53,872 194,824 219,811 28,885 PFD-Convention Center 1,228,948 540,636 580,533 1,189,051 Tourism Promotion Area 53,971 220,831 224,551 50,251 PFD-Capitol Theatre 203,157 409,567 316,333 296,391 Total Other Gov't Operating Funds $ 5,420,251 $ 6,245,260 $ 7,011,409 $ 4,654,102 GOVERNMENTAL CAPITAL FUNDS 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Arterial Street $ 2,049,246 $ 1,439,215 $ 697,499 $ 2,790,962 Central Bus District Capital 72,576 3,601 11,610 64,567 Capitol Theatre Construction 259,770 30,000 5,582 284,188 Yakima Redevelopment Area 3 736,562 1,500,000 9,675,390 (7,438,828) Parks&Recreation Capital 391,355 17,303 41,623 367,035 Fire Capital 381,861 95,294 4,710 472,445 Law and Justice Capital 1,025,340 285,903 122,636 1,188,607 Public Works Trust Construction 3,544,984 851,407 643,211 3,753,180 REET 2 Capital 2,004,985 803,284 724,586 2,083,683 Street Capital 3,833,625 1,005,040 611,776 4,226,889 Convention Center Cap Improvement 5,043,523 102,584 2,868,213 2,277,894 Reserve for Capital Improvement 387,427 387,427 Total Gov't Capital Funds $ 19,731,254 $ 6,133,631 $ 15,406,836 $ 10,458,049 1 The grant reimbursement to offset expenditures have not yet been received,causing the ending fund balance to be negative. 2 City Council approved a$500,000 transfer in the third quarter to the Convention Center to offset decreased revenue due to COVID. 3 YRDA capital fund shows a negative ending fund balance due to the extensive reporting requirements of a DOE grant reimbursement of approximately$7.6 million. This reimbursement is scheduled for receipt in the 4th quarter of 2021. Finance Quarterly Report-Page 11 13 ENTERPRISE OPERATING FUNDS 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Airport Operating $ 604,551 $ 804,950 $ 740,508 $ 668,993 Stormwater Operating 1,732,243 2,118,371 1,972,376 1,878,238 Transit Operating 7,576,254 3,840,060 4,205,119 7,211,195 Refuse 3,052,139 4,166,078 3,771,328 3,446,889 Wastewater Operating 8,430,757 11,754,254 11,190,258 8,994,753 Water Operating 3,941,397 4,797,166 4,798,926 3,939,637 Irrigation 929,133 1,024,190 1,060,700 892,623 Total Enterprise Operating Funds $ 26,266,474 $ 28,505,069 $ 27,739,215 $ 27,032,328 ENTERPRISE CAPITAL FUNDS 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Airport Capital $ 789,623 $ 774,858 $ 1,031,735 $ 532,746 Stormwater Capital 5,129,720 609,000 856,617 4,882,103 Transit Capital 6,102,037 27,814 33,816 6,096,035 Wastewater Facilities Capital 4,809,220 489,917 108,767 5,190,370 Wastewater Construction Capital 8,144,051 750,000 1,561,534 7,332,517 Wastewater Capital 5,284,555 375,000 773,894 4,885,661 Water Capital 5,053,942 1,200,000 116,428 6,137,514 Irrigation Capital 5,950,556 719,757 359,215 6,311,098 Total Enterprise Capital Funds $ 41,263,704 $ 4,946,346 $ 4,842,006 $ 41,368,044 INTERNAL SERVICE FUNDS 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Equipment Rental $ 3,520,021 $ 1,957,512 $ 1,774,199 $ 3,703,334 Environmental 551,877 424 30,241 522,060 Public Works Administration 721,025 682,205 633,083 770,147 Utility Services 5,398 1,115,233 1,115,323 5,308 Total Enterprise Operating Funds $ 4,798,321 $ 3,755,374 $ 3,552,846 $ 5,000,849 Finance Quarterly Report-Page 12 14 EMPLOYEE BENEFIT RESERVES 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Unemployment Comp Reserve $ 296,730 $ 114,196 $ 74,996 $ 335,930 Employees Health Ben Reserve 4 4,362,388 6,465,658 7,121,529 3,706,517 Worker's Comp Reserve 5 841,693 867,485 1,281,885 427,293 Wellness/EAP 108,710 - 15,619 93,091 Total Employee Benefit Reserve $ 5,609,521 $ 7,447,339 $ 8,494,029 $ 4,562,831 RISK MANAGEMENT RESERVE 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance Risk Management Reserve $ 3,376,377 $ 2,649,570 $ 2,860,831 $ 3,165,116 DEBT SERVICE &AGENCY FUNDS 2021 As of June 30 Beginning 2021 2021 Ending Fund Balance Actual Rev. Actual Exp. Balance GO Bond Redemption 2002 GO Convention Center 217,154 493,823 326,848 384,129 2005 GO Various Bonds 6 17,239 2,083,508 2,152,607 (51,860) 1996 GO LTD-Convention Center 44,684 - - 44,684 LID Debt Service Control - 2,679 - 2,679 Total GO Bond Redemption $ 279,077 $ 2,580,010 $ 2,479,455 $ 379,632 Water/Sewer Revenue Bond Redemption WW Rev Bond&2008 Debt Service $ 343,871 $ 193,425 $ 29,938 $ 507,358 Irrigation Bond Debt Service 179,953 136,275 38,563 277,665 WW Rev Bond Rsv&2012 Debt Svc 2,634,044 582,100 43,067 3,173,077 Total W/S Rev Bond Redemption $ 3,157,868 $ 911,800 $ 111,568 $ 3,958,100 Agency Funds YakCorps 99,950 739,425 293,647 545,728 Cemetery Trust 717,668 6,475 - 724,143 Total Agency Funds $ 817,618 $ 745,900 $ 293,647 1,269,871 Total Debt Service&Agency Funds $ 4,254,563 $ 4,237,710 $ 2,884,670 $ 5,607,603 4 2021 expenditures reflect claims at 62%mid-year. 5 Year to date Workers Compensation claims($274,984)are up over 300%compared to last year at this time($81214). 6 Monthly transfers of revenue are scheduled to accommodate annual debt service which may result in a negative ending fund balance mid- year. 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